Volume 4 Number 2 2014

Abstract

The main objective of this paper is to identify investor behaviour in the Colombo Stock Exchange
by using price multiples and the corresponding value drivers. This study uses widely available and easily
identifiable three price multiples (price earning, price to book value and price to sales ratios) and
corresponding three value drivers (earnings per share, the net book value per share and sales). The main
sources of data for this study are secondary data from the Colombo Stock Exchange and published Annual
Reports of the 61 sample companies which covers 80% of the market capitalization. The regression
analysis is used to forecast prices and obtained the pricing errors between the actual and forecasted prices.
The main findings indicate that the net book value is the best value driver amongst all others for the entire
market for investor behaviour. The best value driver is earning per share except for food, beverage and
tobacco category. It is, therefore, recommended to use the net book value per share as the main value
driver for the valuation of stocks in the Colombo Stock Exchange, except for food, beverage and tobacco
sector companies.

system. A quantitative case study approach was used to examine the success of absorptive capacity of ERP end users for ERP system in a leading natural gas distribution company in Pakistan. Structured questionnaires were used for the collection of data from 300 ERP end users. SmartPLS3 software was used for Partial Least Square – Structural Equation Modeling (PLS-SEM) technique for testing the study hypotheses. The findings of the study showed the significant and positive impact of absorptive capacity for understanding, assimilating and applying ERP system on quality of ERP usage. The study also found the significant and positive interactive relationships among three dimensions of absorptive capacity for ERP system. Based on the findings, the study concludes that absorptive capacity for ERP system improves the quality of ERP system utilization in an effective manner and employees should enhance their absorptive capacity through training and education in order to enhance quality of ERP system utilization.

This study utilized Structural Equation Modeling with maximum likelihood discrepancy function to scrutinize relationship among various dimensions of culture and multicultural learning styles, and subsequently the impact thereof on student academic performance. 245 MBA final year students belonging to ‘Punjabi’ ethnic group were examined. The Hypothetical model integrated proven learning styles and cultural theories. While David Kolb’s Learning Styles Inventory inspected characteristics of various learning style preferences, the questionnaire based on Learning Framework on Culture set forth by (Parrish & Linder-VanBerschot, 2010) captured cultural preferences. Three structural models (epistemological beliefs, social beliefs, and temporal perceptions dimension of culture) were analyzed. Epistemological beliefs dimension of culture exhibited positive relationship with multicultural learning styles and proved to be statistically significant for the sampled ethnic group. Interestingly, it was found that, a higher impact of cultural dimension on learning style depicted lower effect on academic performance, and vice versa.

In every organization, there is a thinking created by human that employees (Labor and Management) are also our very valuable asset as related to the other essential assets. In this research, we want to show that the current activities done in many organizations related to Strategic Human Resource Management (SHRM) practices that shown different significant or positive relationship. Organizational performance is taken as the dependent variable and SHRM practices are taken as the independent variables and conceptual framework made on the bases on these variables. Textile industry in Faisalabad, Punjab is taken as the target population because Faisalabad is the hub of textile business in Pakistan. For carrying out this study 300 structured questionnaire were distributed in various textile industries ranging from small and medium level enterprises and 207 completed surveys are collected. The total response rate is approximately 70 %. SPSS software use for checking the reliability of data and also computes the mean, SD and T-test of the data.

Consumer trust has been recognized as a critical component of the electronic banking industry. Extensive efforts in identifying factors that affect trust have shown security mechanisms, consumer’s characteristics, web’s characteristics, and bank’s reputation to play an important role in its development. A survey conducted at an education institution in Malaysia provided both reliable and valid data. The results of this analysis show that there is a significant impact of security mechanisms, consumer’s characteristics, web’s characteristics, and bank’s reputation on a user’s trustworthiness levels on internet banking. Thus, developing this component of perception would assist the consumer trust building effort for online banking. Every step in the online banking activities of users is secured by one of more security mechanisms; consumer’s characteristics, web’s characteristics, and bank’s reputation also directly influenced the user trust levels in internet banking service. Analyzing the role of these mechanisms in developing a user’s perception of security and the impact of this perception on trust provides a pathway to study the role of security in trust development.

This study theoretically and empirically examines the threshold level of inflation in finance-growth relationship in the context of Pakistan by using time series data from 1973-2012. By applying Haung C et.al (2010) techniques, we identify that financial development significantly effects economic growth when inflation is equal to 6%. But as inflation exceeds its threshold, no significant positive relationship exists between financial development and economic growth. Therefore, policy makers may pursue low inflation policy to reap benefits of financial development and financial reforms in boosting economic growth in Pakistan.

This study aims to explore the main reasons of consumption of luxury branded goods. The research also gives an insight upon the main motivational values towards purchasing luxury branded products. The method chosen for analyzing the raw data collected through offline and online questionnaire survey, through snowball sampling technique, was quantitative models namely descriptive statistics and one way ANOVA, that was run through the help of SPSS. The study analyzes the four major motivational values, which motivate people to purchase and consume luxury branded goods, namely; personal values, functional values, individual values and social values. As a result, we find out that functional values were the most significant motivator in purchase decision-making followed by personal values, individual values and social values respectively. One-way ANOVA analysis interprets that four of these values are significant in term of decision-making process while purchasing luxury branded goods. Post Hoc tests showed us the relationship between these values. The social values and fundamental values were highly significant in all the purchase decisions criteria.

The purpose of the study was to measure the effect of interaction behavior of health care providers. The population was the patients of public and private sector hospitals in Karachi. It was a comparative study. There constructs collective make interaction behavior, which are namely; listening, explaining and perceived competence. The dependent variables were satisfaction, confidence and loyalty. The reliabilities were checked through Cronbach’s alpha and the constructs were found to be reliable. The constructs were measured though five point Likert scale. Data was collected though self administered survey form from the patients of private and public sector hospitals of Karachi. Data was analyzed through test of mean, correlation and regression. It was found that private hospitals need to improve the competence component of interaction behavior while the public sector hospitals are required to improve themselves in all the areas of interaction behavior. The areas are listening behavior, explaining behavior and perceived competence.

This paper is aimed at determining the effect of stress on job performance of employees. It is based on empirical research conducted on 133 employees of private sector’s Universities in Karachi that are providing education in the disciplines of Business Administration, Engineering, Medicine, Textile and Fashion. Pertinent data was collected through questionnaires based on close-ended questions. Multiple Linear Regression technique was used to test the hypothesis. The results obtained from the data revealed that workload and role conflict, and inadequate monitory reward are the prime reasons of causing stress in employees, and this stress reduces their efficiency. Thus, it was recommended that employer should minimize stress by lowering the work load, abate the role conflict, pay adequate salary and provide training and counseling to employees in order to improve their job performance and job satisfaction.

Choosing an appropriate professional for the life time and then developing it to the highest possible level is a natural desire of all enthusiastic and competent employees. This research paper identifies and investigates the impact of career planning and development on overall job satisfaction, organizational commitment and employee retention in Pakistani banking sector. For the sake of encompassing the whole spectrum of the banking sector, four leading banks operating in Karachi were chosen for the study. An effort was made to identify the extent to which career planning and development are positively associated with employee productivity, motivation, loyalty and long term retention. The research has been based on the primary data collected from 200 managerial level respondents of the banking sector, with the help of a questionnaire. The data was subsequently analyzed by applying Pearson Chi square statistical tool with the help of software “Statistical Package for Social Sciences (SPSS 20)”. The results have indicated a significant association between independent and dependent variables. However, the research has also identified some anomalies in the existing career development practices of Pakistani banking sector and proposed some remedial measures to further improve employees’ job satisfaction, commitment and retention through career development. Finally, the study proposes that management of Pakistani banks should pay more attention towards career planning and development of their subordinates and frequently interact with them to facilitate them in choosing right career and timely achieving career milestones. Another important recommendation is the creation of trustworthy workplace environment where employees should perceive that their psychological contract is being maintained by the organization. This shall help in developing trustworthy work environment and further lead to better job satisfaction, employee loyalty and long term retention.

FDI plays a vital role in the growth of an economy by providing the opportunity of business expansion, well developed infrastructure, sustain invention and innovation by having technological awareness, and hence results in growth of overall economy. The main idea of this study is to examine the determinants of FDI in Pakistan over the period of 1991-2012 where FDI inflows has fluctuated while facing the period of both the democracy and dictatorship. The research is co relational and explanatory in nature follow the quantitative method and secondary sources are used to collect the data in order to find out the determinants of FDI in Pakistan. A multivariate regression is applied in estimating a long run relationship between FDI and key macroeconomic variables selected for the study. Study also used rigorous techniques of Augmented Dickey-Fuller (ADF) test to find out unit root and Johansen co-integration test. The stationary properties of each time series are examined and found integrated of order one. All independent variables GDP, INT, OPN and EXR are found statistically significant. GDP, exchange rate and interest rate show the positive coefficient while trade openness shows the negative unexpected sign.

This study aims to explore the behavioral profile of Internet and estimate consumer preferences for various Internet service attributes such as always-on functionality, cost, bandwidth, and service reliability. The study used a survey research instrument administered on a sample of Pakistani consumers. Findings of the study show that about a wide majority of consumers have high-speed broadband Internet access and they paid, on average, Rs. 750 per month for its access. Findings also reveal that high-speed broadband users rate all the Internet service attributes higher than the non-users. The findings of the study have significant implications for academicians, practitioners, and policy makers.

Major purpose of this research work was to study the factors affecting job satisfaction level among the faculty members at Laar Campus, University of Sindh Jamshoro as an investigative measure against the high turnover intentions among faculty members of the campus. The study was based on faceted as well as overall approaches to job satisfaction, hence with two-pronged results. Initially, satisfaction level of the faculty members against each of the ten facets taken was individually identified and then an overall job satisfaction score was calculated on the assumption that dissatisfaction on account of certain facets may be offset by satisfaction on account of other facets and the vice versa. Available 15 out of 20 faculty members were involved in the study. Using exploratory study based survey; the data were gathered using a four-point Likert scale based close-ended questionnaire. Back-up interviews were also conducted with the faculty members. Data from interviews proved very helpful in accessing to vey fine and insightful information that was not possible to glean through questionnaire alone. Overall job satisfaction with a mean value of 28.73 was found lying between moderate and high level. This mean was calculated by dividing sum of all individual’s job satisfaction scores by number of respondents. Dissatisfaction level with the organizational policies especially the career development related policies proved to be the biggest source of overall job satisfaction moderators.

The purpose for this study is to investigate the factors affecting consumer decision making of Smartphone. In this study, brand, price, feature, application and quality are used as the independent variables and decision making of Smartphone as the dependent variable. Total of 250 survey questionnaires were distributed in Sungai Petani, Kedah using convenience sampling. A total of 234 were completely answered and these data were analyzed using descriptive statistics, simple linear regression and multiple regression. It has been identified that main factor influence the consumer decision making of Smartphone is price and other factors such as brand, quality, features and applications are also significantly influenced consumer decision making of Smartphone. This finding would be helpful for all the existing and new mobile phone industry to understand better on the factors influence customers when choosing a Smartphone.

The primary objectives of this paper is to examine the relationship between power distance; a cultural dimension adopted from Hofstede’s study and consumer behavior towards conspicuous good. The product category for luxury goods is high ended prestigious mobile phones. This relationship is examined through the need for uniqueness, materialism, consumer’s exhibit of status seeking behavior and functionality/utility. The study is triangulation of Qualitative and Quantitative techniques. Extensive review of related literature is conducted to formulate the conceptual frame work. The investigating instrument for the study consisted of close ended questionnaire. Data was collected from 450 students enrolled in undergraduate and graduate classes in Business school. Power distance had a significant relationship with conspicuous goods. Pakistan has a score of 60 on power distance according to Hofstede’s index. The findings of the study supports the fact that high score on power distance means a status conscious society. The status seeking behavior and materialism had a more significant relationship as compared to need for uniqueness in context of mobile phone usage. Gender differences were also evident in the findings. Female consumers tend to use prestigious mobile phones such as I phones, HTC and blackberry more as a status symbol and need for uniqueness. However it was found that male respondents use expensive mobile phones more for their applications and functionality. Also materialism was found to be asignificant factor for male respondents but not the need for uniqueness. The findings of study are useful for the marketers of luxury products in Pakistan. The population statistics shows that 60% population of country is youth, thus it offers a white space for marketers. Scanty research is available to measure relationship between power distance and mobile phone consumption .This paper fills a gap in the consumer behavior literature in that it specifically addresses the motivations of consumers towards consuming conspicuous goods.