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Item FINANCIAL PERFORMANCE AND EFFICIENCY OF TAKAFUL COMPANIES(UMT.Lahore, 2022-03-07) ADEEL ILYASItem DETERMINANTS OF TAKAFUL DEMAND(UMT.Lahore, 2022-04-29) FAREEDA ASHRAFTakaful (Islamic insurance) in Pakistan is experiencing faster growth day after day. Despite the actual fact that the Takaful sector remains to endure its developing stage, however, the estimated growth could make 20% to 25% within the future ten years, through USD$ 13.5 billion as price involvement in 2019.This study aims to look for out the relationship between Takaful demand and Economic factors in Pakistan.Item COMPARATIVE EFFICIENCY OF SUKUK, CONVENTIONAL AND GREEN BONDS PRE AND DURING COVID-19(UMT.Lahore, 2022)This study uses asymmetric multifractal analysis to compare the efficiency of the sukuk, conventional, and green bond markets before and during the Covid-19 pandemic. Particularly, the asymmetric multifractal detrended fluctuation analysis (A-MF-DFA) approach examines the multifractal scaling behavior independently during upward and downward trends in bond markets. Our experimental findings conclusively show that the markets for sukuk, conventional, and green bonds are multifractal. Consequently, during the COVID-19 epidemic, inefficiencies in all bond markets considerably increased. The findings also shows that the downward multifractality is more grounded than upward multifractality, which means markets are more efficient when prices start to decline, notably in sukuk bonds. The conventional bond markets will typically be more effective than the sukuk and green bond markets for general business sector patterns for the majority of the study time frame. The traditional bond market's larger size and longer maturity compared to the sukuk and green bond markets can be directly linked to this outcome. It is found that during the COVID-19 pandemic, inefficiencies dramatically increased in each of the three security markets, although the sukuk security market appears to have demonstrated a greater level of efficiency. The study's conclusions have a range of implications for investors, portfolio managers, and policymakers.Item The Impact of Technological Innovation and Financialization on the Environmental Degradation(UMT.Lahore, 2022-05-20) Asima MunirThis study took place to know the effect of Financialization and Technological innovation on the Environmental Degradation indicator like carbon emission (CO2), on the income and regional basis classified countries, the panel data is collected from the World Bank Database, International Monetary Fund OECD Patent Statistics & Our World in Data form websites over the period 1990 to 2020. Carbon emission is used as the dependent variable while Renewable energy consumption, Non-renewable energy consumption, Urbanization and Trade liberalization are taken as the control variables. For the data analysis, pooled mean group technique are used because the data has the cross sectional dependence according to the CD Test and Westerlund (2005) test shows the variables are co-integrated in all the panels.Item Determinants of Vertical Integration Impact of Vertical Integration on Operational risk and Financial Performance(UMT.Lahore, 2022-05-20) Usman SafdarThe purpose of the study is to find determinants of vertical integration and also checked the impact of vertical integration on operational risk and financial performance of the Pakistan manufacturing sector firms. To achieve the objectives of the study, 90 companies of automobile and textile sectors are taken for the period 2011–2019 where Fixed Effect Model is used. Our findings show that the Pakistan manufacturing sector (automobile and textile) is characterized by the strength and dispersion of the determinants of vertical integration. The determinants particularly transactional cost, market share and inventory cost are the basic conditions and the structure of manufacturing sector (automobile and textile). The later findings reveals that the vertical integration and profitability have a positive correlation but on the other side operational risk is reduced and has an inverse impact in manufacturing sector (automobile and textile). This confirms the idea that vertical integration is usually accompanied by determinants of vertical integration (transactional cost, market share and inventory cost) that offset its saving (saving in transactional cost, market share and inventory cost related to monopoly power). This study provides guidelines for researchers, students and industrial practitioners in future.Item Impact of Vertical Integration on Sustainability and Financial Performance Evidences from Textile Sector of Pakistan(UMT.Lahore, 2022-05-20) Ayesha AshrafThe purpose of this study is finding the impact of Vertical Integration on sustainability and to find the impact of vertical integration on financial performance. To achieve the objectives of the study, textile sector 77 companies are taken for the period 2011 – 2019. Tobit regression is used to look at the impact of the Vertical Integration on the Sustainability and the Fixed Effect Model is used to look for the impact of the vertical integration on the Financial Performance due to the nature of the data. Results show a significant relationship between the vertical integration and financial performance while vertical integration has some significant and negative impact on some components of sustainability i.e., social sustainability, whereas this study could not find the relationship between economic sustainability and environmental sustainability. This study explains the significant relation with some components of sustainability of the textile sector of Pakistan while in Pakistan more work and different strategies are required to use for the better findings of the results in the relationship of sustainability and vertical integration. This study provides valuable guidelines for researchers, students and industry practitioners in futureItem Impact of Investor Sentiment on Stock Returns(UMT.Lahore, 2023-07-24) AROOJ AKBARThis paper examines the interconnection among online investor's emotion and market returns within the SAARC region using the Twitter Happiness Index (THI) as a measure of emotion. Four empirical techniques are applied: Ordinary Least Squares (OLS) regression, Granger causality analysis, Quantile-on-Quantile (Q-Q) regression, and Cross Quantilogram analysis. The analysis utilizes a comprehensive dataset of Twitter data related to stock market discussions in the SAARC region. OLS regression explores the overall connection among emotion and returns of market while considering other factors. Granger causality analysis interrogates the causal connection among emotion and subsequent returns. Q-Q regression examines the emotion-return connection across different market conditions and levels of returns. Cross Quantilogram analysis explores the relationship’s direction and magnitude, capturing nonlinearity and asymmetry. The results provide valuable insights into the effect of online investor's emotion on market gains in the SAARC region, benefiting investors, policymakers, and market participants in the area.Item SOCIOECONIMIC WELL BEING OF WOMEN(UMT.Lahore, 2022-03-21) SAMINA AHMADMen and women are two wheels of the same cart. Both genders must participate to boost their social and economic well-being. However, our society is a male dominating society in which women do not get equal rights and opportunities to enhance their social and economic stability and they are financially, socially, and morally exploited, abandoned, and ignored by society. The current study focuses on the role of Akhuwat microfinance in empowering women and recognizes its importance in poverty alleviation. The researcher adopted a mix method approach for a depth evaluation of the phenomenon in context of Akhuwat, an interest free microfinance foundation. Akhuwat microfinance has been shown to affect improvements in women's lives, including social status, family well-being, and household conditions. It improves when they use the services of a microfinance institution, and interest free loans add to their happiness. The current study looked at 3 objectives‟ to see how they influenced women's decision-making abilities in their household and social lives. Women's empowerment is influenced by a variety of characteristics such as education, age, family type and marital status. Women are also more likely to be altruistic and spend the majority of their wealth on their families. In order to obtain more meaningful results data were collected from a sample of 250 women from an Akhuwat Microfinance Institute using a comprehensive questionnaire, the current study can be expanded by integrating more components and expanding the sample size.Item APPLICATION OF THEORY OF PLANNED BEHAVIOR ON MUSLIMS INTENTIONS(UMT.Lahore, 2022-03-07) MUHAMMAD MUSAPurpose: The purpose of this study was to use a theoretical model based on the theory of planned behavior to investigate the impact of attitude, subjective norms, perceived behavioral control, awareness and knowledge, religiosity, and service quality on the Muslim minority intention to use Islamic banking in Spain. Design / Methodology: An adopted questionnaire with 36 items was used to collect data from 300 Muslim respondents living in Catalonia, Spain, who knows of the existence and knowledge of Islamic banking. Factor analysis, reliability analysis, and regression analysis were applied to analyze the data using Smart PLS software. Findings: The study found that people‘s attitudes, subjective norms, perceived behavioral control, service quality, and awareness and knowledge were the significant influencers affecting the intention to use Islamic banking. Religiosity has no relevance in developing preferences about using Islamic banking in Spain. Research Limitations: The sample has 300 participants living in Catalonia, although results should apply to all Muslims in Spain. Also, this study does not consider behavioral intention as a moderator. Research Implications: The research is original, and its implications will help target Muslim minority customers with customized products. The study shows the potential for Islamic banks in the Span and the possibility of raising awareness about Islamic banking.Item Determinants of Factors Affecting Portfolio at risk in Microfinance Institutions in Pakistan(UMT.Lahore, 2022-02-24) Hajra ShafqatThe most important aim of microfinance institutions is to eradicate the poverty and promote the economic development. To Expand the Micro-credit is one of the most important main businesses of Micro Finance Institutions (MFIs). Nevertheless, all microloans are not given to the poorest entrepreneurs do wonderful further of initiating the anticipated returns. however, this bad impact has a significant effect on the loan PAR (Portfolio at risk). The MFIs play important role, so this research was performed to indicate the determinants of loan PAR in the industry of microfinance. The objective of this research is to investigate those factors which affect the loan PAR in the microfinance industry of Pakistan. This research used panel regression estimates to investigate the significant impact of all the variables on the loan PAR (Portfolio at Risk). Moreover, chose 25 MFIs from all over the Pakistan. GLS results suggested that female borrowers, deposit to loan ratio, profit margin, GDP and firm’s size are significant in both models. These outcomes recommend that absence of adequate data and monitoring are the aspect of increase in loan PAR. MFIs should take primarily steps to reduce loan PAR. Like to increase the monitoring capacity of the MFIs.Item Volatility of Marijuana Stock Index during COVID-19 Pandemic(UMT.Lahore, 2022-11-11) Moeez AhmadThis study examines the volatility of marijuana stocks index during COVID-19, using Autoregressive Conditional Heteroscedasticity Model. The researcher examines the volatility of marijuana stocks index during the said period and analyze whether the increased demand for Marijuana and other related drugs has affected the variance of these firms’ stock and index returns. The findings reveal that the COVID-19 has affected the index substantially, and returns show an abnormal pattern and indicate the sensitivity and volatility of these firms to the news of verified cases and causalities. Due to increased risk of pandemic’s unpredictability and economic loss, market is more volatile. The findings also indicate that pandemic and volatility have long term association. Therefore, firms need to be vigilant in understanding such risk factors, to respond to them timely.Item Factors Affecting Performance of Employees in the Islamic Banking Sector of Pakistan(UMT.Lahore, 2022) Saad AkbarIn today’s dynamic and fast-paced environment, banks are functional in a highly competitive setting, making them pertinent to differentiate themselves from others to remain competitive. To be strategically successful, banks need to have employees passionate about their work and strive to take their organization to greater heights. The lack of job involvement in employees and high turnover is one of the critical issues banks' management face. This lack of interest leads ultimately to a lack of performance among the employees. Although, several factors influence the employee’s performance at the workplace or specifically in the banking sector. This study examines the variables or human resource related factors that affect the employee's performance within Islamic banks of Pakistan. The study was quantitative that mainly focuses on the Islamic banks of Lahore, Punjab region. Primary data was collected with the help of a survey instrument from 300 Islamic bank employees. Multiple regression was applied using SPSS software. Employee performance was a dependent variable, whereas financial rewards, motivation, job stress, training and development, and organization culture were independent variables. The study finds that all five factors have a statistically significant relationship with the performance of the Islamic banking sector employees. The study finds the positive effect of motivation, training and development, financial rewards, and organisation culture on employee performance. On the other hand, stress negatively affects the employee's performance. The study findings will help identify and create proper human resource practices and organizational culture in the Islamic banking industry in Pakistan.