Department of Management Science
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Item Impact of Shareholders’ Activism on Governance Practices and Firm Performance in Pakistan: A Response for Family Controlled Firms(Library Informtion services, CUI Lahore, 2019) Ayesha Amjad; CIIT/FA17-RMS-008/LHR; Dr. Sajid Nazir; LHR TP 5696This study has set out to empirically examine the impact of one of the monitoring mechanism of corporate governance on the overall performance of the firm. Call of previous researches stimulate this study to respond by taking sample of 150 nonfinancial firms listed on PSX to investigate impact of ownership structure on performance of the firms while taking into account multiple dimensions. The study has taken firm performance as it dependent variable which is measured through two proxies: Return on Assets and Tobin’s Q. The independent variable of the study is Ownership Structure of corporate governance measured through five proxies: Institutional Ownership, Family Ownership, Family Control, Group Affiliation and Institutional Activism. The study has employed System GMM econometric technique to investigate the relationship. According to computed results, Family Ownership puts positive and highly significant impact on market performance of the firm. Similarly, there exists strong and significant relation among Family Control and market value of firm. There is highly significant association among Group Affiliation (GA) and market performance of the firm but in negative direction. Similarly, Institutional Ownership (IOS) is significantly related to accounting and market performance of the firm. Moreover, joint impact of Institutional and Family Ownership (IOSxFOS) is positively and significantly related to accounting performance of the firm. Finally, Institutional Activism (Inst_Act)is positively and significantly related to accounting performance of firm.Item Impact of Corporate Governance on Firm Performance: A Case of Insurance Industry of Pakistan(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2014) Hafiz Muhammad Raheel Arif; FA11-MSMS-013; Dr. Talat Azfa; LHR TP 4385The study is aimed to investigate the outcome of the influence of corporate governance on financial performance of two-tiered insurance industry of Pakistan i.e. Non-life insurance companies and life insurance companies for the period 2005-2012. The study has used four dimensions of corporate governance mechanisms including board composition, board compensation, ownership structure, and audit quality. The study uses twelve corporate governance variables which are categorized under three categories making corporate governance indices which are; corporate governance index of board structure, corporate governance index of ownership structure, and corporate governance index of audit quality. Each category includes variables (i) corporate governance board index, (a) board size, (b) board independence, (c) chief executive officer duality, (d) board diversity, and (e) executive remuneration, (ii) corporate governance ownership index, (a) institutional ownership, (b) ownership concentration, and (c) family ownership, (iii) corporate governance audit index, (a) audit committee size, (b) audit fees, (c) audit committee independence, and (d) independence of audit committee chairman and a set of control variables including premiums growth, liquidity, firm size for both life and non-life insurance companies and firm age for non-life and leverage for life insurance companies. Both accounting and marketing measures are used as financial performance variables viz. return on assets, return on equity as accounting measures, and Tobin’s Q as marketing measure of financial performance. The study separately gives the results of the non-life and life insurance companies while making a comparison between the both. Findings of the study insinuate that index of board structure and index of audit has positive and significant relationship with the both type of financial performance variables of non-life and life insurance companies, governance index of ownership structure has negative effect with all performance measures. While in control variables, size, age and liquidity has positive and premiums growth has negative effect on financial performance variables of non-life insurance companies. And leverage and liquidity of life insurance firms have negative effect with all three performance variables; firm size has positive with return on assets and return on equity but negative with Tobin’s Q and premiums growth has negative association with return on assets and return on equity but positive with Tobin’s Q. The study concludes that return on assets and return on equity are the most suitable variables of measuring financial performance.Item Analyzing Social Entrepreneurship in Microfinance Banks: Connecting Entrepreneurial Orientation and Firm Performance(Library Information Services COMSATS University Islamabad Lahore Campus, 2019-01-30) Fahmal Arshad; SP17-RMS-001; Dr. Basharat Naeem; LHR TP 5693The purpose of this study is to provide a better perceptive of the relationship between entrepreneurial orientation and firm performance in microfinance banks located in Pakistan by evaluating the mediating impact of social entrepreneurship between entrepreneurial orientation and firm performance. This study contributes in entrepreneurial orientation and firm performance link and proves to be the first attempt to address the need of SE as an underlying mechanism. Data was collected from the senior management of microfinance banks in Pakistan. A total of 53 respondents ware collected from 10 MFBs. This study uses SPSS as statistical software and adopts Multiple Linear Regression to test the mediated relationship. The result shows that the direct effect of entrepreneurial orientation and firm performance is significant while indirect effect is insignificant which needs further investigation. The study is limited with primarily low sample size and the deficient measure of time accessible to examine the issue and accumulate information.Item Entrepreneurial Orientation and Firm Performance in Tourism Industry: The Moderating Role of Control Mechanism(Library Information Services, COMSATS University Islamabad, Lahore Campus, 2020) Muhammad Naeem; FA17-RMS-001; Dr. Imran Shafique; LHR TP 6045The construction sector has always been led to environmental challenges caused by unsustainable actions of human activity, thereby, increasing demand for environmental responsibility (ER) practices in the sector. This research is conducted to investigate how key measurements of pro-environmental behaviors (PEBs) could be related to ER practices of construction projects. The results show that employees’ perceptions of ER practices directed toward non-owner stakeholders are positively related to their PEBs. This relationship is partially mediated by the environmental commitment of project participants. Conversely, employees’ perceptions of ER practices directed toward the local community (external stakeholders) have only an insignificant impact on their PEBs. The study uses survey approach to collect data using a self- administered questionnaire from the sample of 340 in different construction firms of Pakistan by using convenience sampling technique. Basic descriptive statistics and Partial Least Squares (PLS) regression is executed to demonstrate how ER activities aimed at different stakeholders could be used and at what mechanism ER practices can efficiently be employed by project participants to stimulate their pro-environmental behaviors (PEBs)