In this paper, we examine the conjecture that managerial earnings forecast error is associated with long-run price performance of IPOs. We find evidence that firms with high forecasting error performed worst in the three years after going public, while firms with conservative earnings forecast performed better in terms of stock price return. Our results show that the mean absolute forecast error of IPO profit forecasts in Bangladesh is 90\%, implying actual profits deviate 90\% from the forecasted profits in the IPO prospectuses. We find that in the long run, IPOs performed poorly when managers reported their earnings with overoptimisim in [...]

The aim of this paper is to study the nexus between banks' characteristics and economic growth in developing/underdeveloped countries that are members of the Organization of Islamic Cooperation (OIC). This paper applies a dynamic panel model for all conventional banks operating in OIC countries for the period 1989-2008. The main finding of the study is that banks' loans foster economic growth in the long run. In addition, banks' deposits, liquidity, foreign ownership, and size have a positive impact on economic growth and the results are significant at 1\% level. Similarly, stock market development and money supply play a vital role [...]

Remittance has been one of the most vital behind the economic development of Bangladesh. But due to the global pandemic, remittance flow all over the world was disrupted.In Bangladesh also, the dynamism of remittance was disturbed but later on with the advancement of time it began to regain its momentum during the global pandemic. The main purpose of this paper is to evaluate the changes in the dynamics of remittance in Bangladesh that have occurred during the pandemic period and to observe the differences with that of the pre-covid period. Moreover, the major sources and purposes of remittance inflow [...]

There are numerous aspects available that play a significant portrayal in responsible financial management behavior. The research paper focused on the financial management behavior of individuals young and adults of Pakistan and the impact of financial knowledge and psychological aspects (locus of control, herding behavior, and overconfidence) on financial management behavior directly and through financial attitude as mediator. We also explored how financial risk tolerance complements both these direct and indirect relationships. We proposed a theoretical framework modifying Bapat (2020) model by including other behavioral factors like herding behavior and overconfidence. We regulate the relation between independent and dependent variables, [...]

Family businesses are prominent and quite sound identity in every corner of the world. Dominant families have a solid motive for extracting personal advantages through minority shareholder resource exploitation and indulging in lessening the shareholders' wealth, especially in developing countries. An effective governance system guards against these activities while still influencing long-term results by eliminating these. This analysis broadens this focus by exploring the impact of independent directors, board scale, leverage, dividend delivery, and firm size on financial performance in Chinese listed family-owned businesses. Secondary data from released annual reports and governance practices reports was used to analyze 212 family-owned [...]

This study examines how the financial services accessed and delivered through digitalization in Pakistan. Digital infrastructure refers to Internet, mobile phones, ATMs, tablets, chips, biometric devices and any other existing digital communication system. Currently, financial markets have become more reliant on digitalization as digital integrated financial markets are playing an important role in the development of financial sector, increase market competitions, performance of intermediaries and the efficiency in their daily operations. Based on secondary data and stakeholders' interviews, the study provides an overview of digital financial inclusion, explores the possible opportunities and key challenges to digital financial services in Pakistan. [...]

Despite the attainment of 87% electricity access, majority of the middle and low-income households in South Africa are faced with the huge challenge of transition from fuel wood to electricity for domestic activities especially cooking and heating. This article highlights the role of demographic variables in household decisions to use fuel wood instead of electricity in the Province of the Western Cape. We employed a quantitative cross-sectional survey design and a two-stage stratified random sampling technique to capture 1199 respondents using Enumeration Areas (EAs) demarcated to the province for the 2011 Census. Using chi-square and multivariate analysis, the outcome of [...]

This work investigates the impact of capital structure (CS) and corporate governance (CG) on dividend policy. The sample selected for this study includes all firms in the cement sector of the Pakistan stock exchange. The CS and CG are measured using the debt to equity ratio (DER) and managerial and institutional ownership mechanisms. The dividend policy (DP) is measure using the dividend payout ratio. The fixed effect model of regression is used for estimation and correlation matrix. The data normality, autocorrelation and multicollinearity are also used as a tool of analysis. The results show no outliers problem in the data [...]

In the current environment, firms' performance is reflected to be a significant aspect of their competitive edge. If the firm's performance cannot be improved, its competitive advantage might be decreased. It was noted in the literature that the performance of the Pakistani banking industry had decreased. Besides these concerns, there are numerous other factors that are related to declining performance. Among them, corporate social responsibility (CSR) is also included. Therefore, the objective of this study is to examine the moderating effect of the market environment on the relationship between corporate social responsibility and firm performance in the banking sector in [...]

This article has been retracted : ........... In the context of the COVID-19's outbreak and its implications for the financial sector, this study analyses the aspect of hedging and safe-haven under pandemic. Drawing on the daily data from 02 August 2019 to 17 April 2020, our key findings suggest that the contagious effects in financial assets' returns significantly increased under COVID-19, indicating exacerbated market risk. The connectedness spiked in the middle of March, consistent with lockdown timings in major economies. The effect became severe with the WHO's declaration of a pandemic, confirming negative news effects. The return connectedness suggests that COVID-19 [...]