Journal of Policy Research publishes new and original research in the fields of development studies, corporate sociology, public policy, psychology, monetary system, political science, linguistics, culture and civilizations, education, business reforms, regulatory reforms and political economy. The Journal is interested in both theoretical and applied research. Research articles related to public administration and bureaucratic reforms are also welcomed.
Impact of Mandatory IFRS Adoption on Accounting Practices: Empirical Evidence from Pakistan
Accounting practice in Pakistan has become an issue of investigation into the effect of obligatory adoption of International Financial Reporting Standards (IFRS). The basis of the article is the review of changes in the earnings management, the fair character of proving the financial reports, the extent of comparativeness of the financial statement in 2008 to 2020 with the help of panel data set which covers 200 non-financial organizations which are at the list of the Pakistan Stock Exchange since 2008 when it switched to the IFRS. The study finding is that the management has gone so much down after the introduction of it earned management is whereby there have been improvements in quality of disclosure and comparability of the financial statements after the introduction of it. The results can indicate that a generic standard of any emerging market of financial reporting has been improved due to the use of IFRS. The results have implications to the regulators, the policymakers and the practitioners who are generally interested in improving the standard of financial reporting in developing economies and this outcome can not be ignored.
IFRS, Accounting Practices, Earnings, Earnings Management, Financial Disclosures, Comparability, Pakistan and Emerging Markets
Copyright (c) 2022 Journal of Policy Research
Exploring the Impact of Internal Corporate Governance on the Relation Between Disclosure Quality and Earnings Management in UK Listed Companies
<span lang="EN-US" style="font-size: 10.0pt; line-height: 115%; font-family: 'Calibri',sans-serif; mso-ascii-theme-font: minor-latin; mso-fareast-font-family: Calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; color: black; mso-themecolor: text1; mso-ansi-language: EN-US; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">The article is dedicated to the impact of the internal corporate governance mechanism in the mediation of the relationship between quality of disclosure and the earnings management of the UK listed companies. Although in past literature, it has been determined that high quality level of disclosure minimizes managerial opportunism to the minimum, the degree to which the relationship operates in interdependence with other internal governance processes has not gained the due importance especially in the advanced, mature capital markets as in the United Kingdom. Using panel data from a sample of non-financial firms listed on the London Stock Exchange (LSE) between 2012 and 2021, the study examines how components of corporate governance—such as board independence, audit committee effectiveness, ownership concentration, and CEO duality—affect the strength and direction of the disclosure–earnings management link. The estimate of the discretionary accruals based on the Modified Jones Model is used as the indicator of the earnings management, and the quality of disclosure is proved with the help of the utilization of the self-designed disclosure index, which considers compliance with the IFRS, and also the narrative reporting standards.The empirical findings indicate that earnings management has negative relationship with the quality of disclosures which do not agree with the fact that the lack of transparency deters opportunism. Speaking more accurate, quality-of-disclosure and quality-of-earnings manipulation are more negatively correlated among the firms with an appropriate internal governance given the firms, whose board is independent and the members of the audit committee are at work. Quite on the reverse, the impoverished governance regimes weaken disclosure as a disciplining model. This conclusion is capable of making contributions to the theory upon safety which should regard the topic of corporate disclosures and openness and governance as it sheds light on interactive effects among the practice of disclosure and internal control arrangements settings. The recommendations to the regulators and the corporate boards and investors of the corporate environment in the UK interested in making the reporting of the corporate environment more honest and the possibility of manipulating the earnings limited will make the practical implications of the study.
disclosure quality, accounting management earnings, internal corporate governance, external board independence, the listed companies in UK, discretional accruals
Does Intellectual Capital in Islamic Banks Outperform Conventional Banks? Evidence from Pakistan
This study examines the comparative performance of intellectual capital in Islamic banks versus conventional banks in Pakistan over the period 2015–2020. The analysis employs the Value-Added Intellectual Coefficient (VAIC) framework, which decomposes intellectual capital into human capital efficiency (HCE), structural capital efficiency (SCE), and capital employed efficiency (CEE). Simulated data representing bank financial metrics are used to compare the two groups. Descriptive statistics and independent-sample t-tests are applied. Results show that Islamic banks have significantly higher average HCE and CEE, while conventional banks have higher average SCE. The findings suggest that Islamic banks leverage human and capital resources more effectively, whereas conventional banks rely more on structural systems. The implications of these differences for banking strategy and management of intellectual capital are discussed.
intellectual capital, Islamic banks, conventional banks
Cross-Country Analysis of Corporate Governance Mechanisms and Agency Costs: Evidence from OECD and Emerging Economies Before and After COVID-19
This study investigates the role of corporate governance mechanisms in mitigating agency costs across both OECD and emerging economies, with a comparative lens on the pre- and post-COVID-19 periods. Building upon prior research that primarily focused on ownership concentration and audit committee independence in single-country contexts, this paper expands the analytical framework to include a broader range of governance variables such as board diversity, executive compensation, CEO duality, and dividend policy. Using panel data from listed firms across six countries between 2010 and 2022, the study incorporates both forward-looking (Tobin's Q and free cash flow interaction) and backward-looking (expense ratio and asset utilization) proxies for agency costs. Regression analysis reveals that internal governance structures exhibit varying degrees of effectiveness, depending on institutional settings, firm type (financial versus non-financial), and economic phase (pre-COVID-19 versus post-COVID-19). Notably, the pandemic intensified the importance of independent board oversight and incentive-aligned compensation structures. The findings offer valuable insights for policymakers, investors, and corporate managers in designing resilient governance frameworks that are tailored to the evolving risks associated with agency in various economic environments.
Agency Costs; Corporate Governance; Ownership Structure; Board Diversity; Executive Compensation; OECD; Emerging Economies; COVID-19; Tobin’s Q; Audit Committee; Comparative Analysis
Beyond the Boardroom: When Does Female Ownership Matter for Corporate Value in Family-Owned Firms?
Family-owned firms in emerging markets can endure a governance issue because of concentrated ownership and the agency problem between the controlling and the minority shareholders. Although the gender dimensions of boardroom representation have received interest, the effect of female ownership as a unique system of governance has not been addressed adequately. The present study explores the role of ownership of women as a threshold to firm value in Thai-listed family-owned firms through the use of multiple regression-based explanations with reference to the theory of agency and the stewardship theory. Results revealed that a woman-owned firm value does not add independently unless the percentage of female’s ownership is above a critical point but that directors who are women remain positive contributors to the corporate valuation. Moreover, a combination of large female ownership and directorship proves a synergistic effect in canceling out the adverse effect of the family influence. These findings demonstrate why there should be significant gender representation beyond symbolic presence in an ownership structure. Practical implications of the study also offer policy and business executives the ability to create gender-neutral governance and sustainable firm performance in the emerging economies.
Female ownership, Family firms, Female directors, corporate governance, Emerging markets, Firm value, Agency theory, Stewardship theory and Gender diversity and Thailand
Dr. Muhammad Umer Farooq , Dr. Abdul Salam Lodhi , Dr. Khurshed Iqbal , Ameer Muhammad Kasi , Dr. Amjad Masood , Noor Ahmad Khan , Dr. Abid Hussain Nadeem , Muhammad Imran Afzal
Institutional Shielding under Uncertainty: Governance Quality and Investment Behavior in Asian Economies
The authors conduct a study regarding how the quality of governance influences the influence of uncertainty on investment behavior within the sample of three Asian economies. Based on uncertainty investment theories and the institutional theory, we assume that quality governance institutions can protect economies against the negative impacts of macroeconomic uncertainty and political uncertainty thus stabilizing investment flows. To make the results robust we estimate panel data (2000-2022) of 15 Asian countries using fixed-effects, random-effects, and dynamic system GMM estimations. We find that uncertainty has a negative effect on the investment level but this effect is highly mitigated in samples with a higher quality of governance especially with regard to regulatory effectiveness and the rule of law. The research has significant policy implications to the emerging Asian economies since there is need to ensure that institutional structures are intensified to attract and maintain investment in unstable economies.
Quality of governance; Investment behavior; Economic uncertainty; Institutional shielding; Asian economies; Dynamic panel analysis; Political risk; System GMM
Copyright (c) 2023 Journal of Policy Research
Disaggregating Health Spending: The Role of Corruption Control and Health Budget Composition on Public Health in Pakistan
This paper addresses the issues related to the diverse impacts of disaggregated health spending and corruption control on national health outcomes within the context of Pakistan. The health expenditure, differentiated into preventive, curative, and administrative categories, has made the research, to some extent, detailed in the manner in which specific elements of these budgets influence health indicators, such as life expectancy, infant mortality, and under-five mortality. The analysis, based on panel data of national and provincial health accounts from 2005 to 2022, using fixed and random effects models, indicates that preventive health expenditure has a very positive impact on the health state, as measured by life expectancy and child mortality. On the other hand, the curative and administrative costs have either a less significant or negative impact, or are inconsistent. It has also been established that the successful management of corruption is positively correlated to all the expected indicators of enhanced health performance. However, the fact that corruption, as indicated by the interaction effect of corruption control on health budget composition, significantly impairs the effectiveness of health spending in areas with high corruption levels. These findings suggest that greater transparency and investment in preventive care are necessary to achieve Sustainable Development Goal 3 in Pakistan.
Anti-corruption, preventive care, restorative care, expenditure structure of health, life expectancy, infant mortality, under-five mortality, public health, Pakistan, SDG3, governance
Beyond Governance: Exploring the Role of ESG Integration and Political Stability in Attracting Sustainable FDI in Emerging Markets
As sustainability becomes a defining criterion in global capital flows, emerging markets are under growing pressure to attract foreign direct investment (FDI) that is aligned with Environmental, Social, and Governance (ESG) principles. While governance quality has long been recognized as a foundational factor influencing investment decisions, the combined role of ESG integration and political stability remains underexplored. This study investigates how ESG adoption and political stability contribute to attracting sustainable FDI in emerging economies. Using a panel dataset of 30 emerging markets from 2010 to 2023, we employ Fixed Effects (FE) and System Generalized Method of Moments (GMM) estimations to address endogeneity and unobserved heterogeneity. Our findings reveal that ESG integration significantly enhances sustainable FDI inflows, and this effect is further amplified in politically stable environments. Governance quality, while still important, plays a complementary role. These results underscore the need for holistic investment policies that combine ESG commitments with institutional stability to foster long-term, responsible investment. The study offers actionable insights for policymakers, development agencies, and institutional investors seeking to align capital with the Sustainable Development Goals (SDGs).
Sustainable FDI, ESG integration, political stability, emerging markets, institutional quality, responsible investment, SDGs
The Reciprocal Relationship Between Earnings Management, Disclosure Quality, and Board Independence: Evidence from Pakistan
This study investigates the reciprocal relationship between earnings management, disclosure quality, and board independence using panel data from non-financial firms listed on the Pakistan Stock Exchange (PSX) from 2015 to 2020. Drawing on agency theory and the evolving corporate governance landscape in emerging markets, the study explores how governance mechanisms not only constrain earnings manipulation but are also shaped by it over time. Earnings management is proxied through discretionary accruals using the Modified Jones Model, while disclosure quality is measured through a customized disclosure index developed from firm annual reports. Board independence is operationalized as the percentage of independent non-executive directors on the board. Using simultaneous equation modeling (2SLS), the analysis reveals a significant negative association between board independence and earnings management, and between disclosure quality and earnings management, supporting the hypotheses that governance mechanisms reduce financial reporting opportunism. More notably, the findings demonstrate that prior-year earnings management significantly weakens board independence and deteriorates disclosure quality in subsequent periods—highlighting a feedback loop where earnings manipulation erodes governance integrity. These results underscore the importance of reciprocal accountability in corporate governance. In an environment like Pakistan, where enforcement mechanisms are still developing, the research provides timely policy insights. Regulators such as the Securities and Exchange Commission of Pakistan (SECP) must emphasize not only compliance with governance codes but also the prevention of cyclical deterioration in transparency and oversight. The study contributes to the literature by offering a dynamic perspective on governance and earnings management in emerging markets.
earnings management, disclosure quality, board independence, corporate governance, Pakistan, discretionary accruals, emerging markets
Copyright (c) 2021 Journal of Policy Research
Exploring the Mediating Roles of Cleaner Production and Environmental Quality Management in Enhancing Zero-Waste and Differentiation Outcomes: Evidence from Emerging Economies
In the face of rising environmental challenges and competitive pressures, firms in emerging economies are increasingly adopting sustainable practices to gain both ecological and strategic advantages. This study examines the mediating roles of Cleaner Production (CP) and Environmental Quality Management (EQM) in the relationship between environmentally oriented strategies and two key outcomes: zero-waste performance and differentiation advantage. Drawing on the resource-based view and institutional theory, a conceptual model is developed and empirically tested using data from 310 manufacturing firms across emerging Asian economies. The findings, derived through Structural Equation Modeling (SEM), reveal that both CP and EQM serve as significant mediators in enhancing environmental and strategic outcomes. CP facilitates operational improvements that reduce waste at the source, while EQM drives organizational alignment, continuous improvement, and stakeholder engagement. The results emphasize the importance of integrating both technical and managerial systems to realize the benefits of sustainability initiatives fully. This study contributes to the circular economy literature by offering practical insights for policy and management in industrializing regions.
Cleaner Production, Environmental Quality Management, Zero-Waste Performance, Differentiation Advantage, Circular Economy, Emerging Economies, Sustainable Manufacturing, Strategic Environmental Management
Cross-Industry Evidence on Activity-Based Costing Implementation and Technological Integration in Emerging Markets
This study explores the implementation of Activity-Based Costing (ABC) across diverse industries in emerging markets, focusing on the associated challenges and the extent of technological integration. ABC as a strategic decision-making instrument is more precise in attribution of costs but its use within a developing economy is always compartmented by organizational lethargy, lack of technical skills and constraint of resources. Based on empirical findings on various industries, such as manufacturing, healthcare, services, and logistics, this study cites some of the most important driving and impediment forces that affect the ABC implementation. In particular, the study examines the role of digital technologies such as Enterprise Resource Planning (ERP) systems, cloud-based platforms, and artificial intelligence in supporting ABC deployment. The cross-industry result shows a huge disparity on the implementation outcomes based on sector parameter, organization size and digital preparedness. The results support the fact that cost management strategies should be coordinated with technological abilities to enhance efficiency and competitiveness of operations. The study will help fill the gap of the few studies on ABC conducted in emerging economies with an option to guide managers and policymakers who wish to modernize their cost systems using integrated technology solutions.
Activity-Based Costing (ABC), Emerging Markets, Cross-Industry Analysis, Cost Management, Technological Integration, ERP Systems, Artificial Intelligence, Implementation Challenges, Management Accounting, Developing Economies
Cryptocurrency Price Dynamics: Unveiling Bitcoin’s Predictors
The advancement in technologies has changed the picture of today’s economy. Cryptocurrency is the most trending currency nowadays. The form of cryptocurrency that is most commonly used in trading is Bitcoin. Since 2016, continuous fluctuations have been observed in the price of Bitcoin. The objective of the current study is to classify the strong predictor of Bitcoin’s price fluctuations and the associations of all these variables with each other. The price of several variables is selected as independent variables, including oil, VIX index, and US dollars. The price values for all study variables are collected for one year daily. The study findings indicated that lag 2 in the VAR model is the optimum lag for the model using HQIC and SBIC criteria, so today’s price depends on the previous two days’ price of independent variables. The correlation results indicated that the previous two-day price of EURO predicts the BTC’s today’s price. A negative association is found between VIX and BTC. It is indicated that a 1 percent increase in the price of the VIX index will lead to the 60 decreases in BTC’s today price. The study also showed that it is not the price of BTC that forecasts today’s worth of BTC, but it is the prices of VIX, euro, and oil that can predict today’s price of BTC.
Cryptocurrency, Bitcoin, Oil price, VIX index
Copyright (c) 2024 Journal of Policy Research
Unpacking the Role of Renewable Energy Integration and Green Trade Policies on Environmental quality and Carbon-Neutral Economic Growth: A Dynamic Comparative Analysis of South Asian Economies
The purpose of this study is to measure the efficiency of green trade policies to encourage appropriate economic behavior. Some of the friendly trade eco policies such as Eco friendly trade agreement, –Carbon Tariffs, Technology transfers seek to spur some level of eco responsibility and reduce the economic infringements on the ecology. This research, therefore, seeks to examine the role of these policies in enhancing carbon neutral growth and their relevance as an instrument for development in South Asia. We conducted comparative research on South Asian countries regarding " the Role of Renewable Energy Integration and Green Trade Policies on Environmental quality and Carbon-Neutral Economic Growth: A Dynamic Comparative Analysis of South Asian Economies "using data from selected emerging nations. Data was gathered from the World Bank website, covering the period from 2001 to 2022, alongside data from Organizations such as the World Bank, IMF, Asian Development Bank, and Asian bank provide extensive datasets and publications related to Renewable Energy Integration and Green Trade Policies, Environmental quality and Carbon-Neutral Economic Growth. We conducted robustness checks, pairwise correlation tests, linear regression, symmetry analysis, and VIF tests. The present research contributes towards understanding the details of the interactions between RE integration, green trade policies and economic development of SA economies. The results reveal the importance of renewable energy sources in enhancing environmental quality as well as produce vivid revelation of the effect of CO₂ emissions on the environment. Increase in GDP has been predicted by the green trade policies thus indicating that sustainability of trade policies can enhance the growth of the economy hence supporting the economic hypothesis, about sustainability of trade polices but there impact on quality of outputs is unknown. Besides, technological advancement as an impediment of economic development as an element of innovation for a low-carbon economy. On the other hand, negative correlation between labor force participation and GDP reveals Lounge that calls for labor market changes with respect to productivity and efficiency.
Renewable Energy Integration, Green Trade Policies, Environmental quality and Carbon-Neutral Economic Growth
Unveiling the Nexus between Dark Triad Personality Traits and Academic Dishonesty: The Parallel Mediation of Moral Disengagement and Academic Entitlement and Moderating Effect of Perceived Teacher’s Approachability.
This paper aims to explore the relationship between Dark Triad Personality Traits and academic dishonesty, using Social Cognitive Theory as a framework. It also investigates moral disengagement and academic entitlement as potential mediators and examines perceived teacher approachability as a moderator. This study employs a quantitative approach. A sample of 336 business students across Bachelor's, Master's, and Ph.D. levels were surveyed using an anonymous questionnaire. The proposed model was evaluated using PLS-SEM 4. The results revealed a positive correlation between dark personality traits and academic dishonesty. Mediation analysis indicated that moral disengagement mediates the relationship between dark traits and academic dishonesty. Furthermore, moderation analysis confirmed that perceived teacher approachability plays a role in reducing academically dishonest behaviors. Overall, the findings emphasize the significance of dark triad personality traits, moral disengagement, and perceived teacher approachability in predicting academic dishonesty, contributing to its prevention. This study primarily relies on self-reported data, which may be affected by social desirability bias, and focuses on a single region, limiting the generalizability of the results.
Academic Dishonesty (AD), Academic Misconduct (AM), Moral Disengagement (MD), Academic Entitlement (AE), Dark Triad Personality Traits (DTPT), And Higher Education Institutions (Heis)
Navigating the effect of Work-Family Conflict on Job Performance: The Mediating Role of Work-Family Guilt and the Moderating Effects of Gender Role Orientations and Reducing Work
This paper explores how work-family conflict is intertwined with the relationship between job performance and also delves into the mediating role of work-family guilt. Additionally, this study explores its moderation effects of gender roles and reducing work. As the paper argues, the existing research on this subject has had several gaps. The approach is grounded on two major theories namely role dynamics theory and source attribution perspective. A correlational research design was followed to test the proposed hypotheses. Data were collected from 127 married employees (73 males and 54 females) working in the service sector in Pakistan. Reliable and validated scales measured work-family conflict, work-family guilt, job performance, gender role orientations, and reducing work. Statistical analyses, moderated-moderated mediation, and so on were conducted on these relationships. The results showed that work-family conflict negatively impacted job performance and that work-family guilt is a significant mediator. On the contrary, though, gender role orientations as well as reducing work were not expected to moderate the mediated relationships. This study pointed out how important work-family guilt is in explaining how work-family conflict influences job performance. The study contributes to the organizational behavior literature by emphasizing the emotional mechanisms underlying WFC and their impact on employee performance. Practically, the findings underline the importance of developing organizational policies that minimize work-family conflict and provide emotional support to employees. The insights gained open new avenues for research, particularly in culturally diverse contexts like Pakistan, where traditional gender norms play a significant role in shaping work and family dynamics.
Work-family conflict, job performance, work-family guilt, gender role orientations, reducing work, role dynamics theory
Current Corruption Indices: Assessing Reliability and Relevance
Corruption manifests in various forms and casts long shadows across nearly all economic sectors. Numerous measures, commonly known as perception indices, effectively assess corruption levels across different countries. However, each corruption index has its limitations because corruption cannot be quantified precisely. A significant drawback of perception indices is that a single corrupt act, when amplified by the media, can disproportionately influence these indices, leading to an overestimation of corruption levels. Conversely, the absence of more granular, experience-based indicators often leads to an underestimation of corruption. Neither perception-based nor experience-based indicators alone can accurately capture the full extent of corruption. While each country faces its unique challenges with corruption, the averaged and standardized techniques previously used in perception indices tend to force corruption measures into a narrow range, which has resulted in minimal changes in the values of these indices over time. In this research paper, the perception indices of corruption are critically evaluated. Since developed and developing countries have distinct social, moral, cultural, and economic foundations, it is inappropriate to compare them using the same corruption barometer. This paper discusses why policymakers cannot solely rely on perception indices.
Corruption Perception Index, Corruption, Criticism of CPI, Control of Corruption, Perception surveys, Novel Corruption Index
Disaggregating the Ecological Footprints of Trade in Pakistan
This study employs an ARDL model to examine the long- and short-run relationships between economic growth, trade in services, energy, and Pakistan’s import ecological footprints, using time-series data from 1990 to 2022. The model demonstrates strong illustrative power, with an R-squared of 0.9865 and a low RMSE of 0.0071, emphasizing the accuracy of modeling Import Footprints. In the long run, the bio-capacity of imports emerges as a significant positive factor (coefficient = 1.2846, p < 0.001), revealing that imports with high bio-capacity demand, such as agricultural or forest products, are major contributors to the ecological footprint. Although GDP has a tad significant effect (p = 0.059), indicating potential efficiency gains in import production per GDP unit, energy consumption, inflation, and population effects remain statistically insignificant, suggesting that their environmental impacts may be channeled primarily through domestic production. In the short run, import bio-capacity continues to reveal a significant effect (coefficient = 1.0623, p = 0.005), highlighting that fluctuations in bio-capacity-intensive imports can immediately alter the ecological footprint. The results indicate that while trade in services and energy consumption show limited direct environmental impacts, managing imports with substantial bio-capacity needs is critical for sustainable trade policy. This analysis provides intuitions into the ecological implications of Pakistan’s import composition and highlights the importance of aligning trade and environmental policy to manage long-term ecological footprints effectively.
Ecological Footprints, Bio-capacity, Trade
Beyond Borders: Revisiting the Indo-Pak Conflict Through the prism of the China-Pakistan Economic Corridor Dilemma
Foreign Direct Investment is a crucial instrument within the realm of geoeconomic strategy. The consistent and substantial financial inflows made by China towards the China-Pakistan Economic Corridor (CPEC) have emerged as a significant concern for India as it reexamines its strategic position in the region. India perceives this investment as unfavorable and a threat to its national interests. A potentially stable and economically prosperous Pakistan could effectively enhance its ability to advocate for the Kashmir cause within the power corridor. China's dream to revitalize its ancient silk route still exists as Pakistan and China are connected by a paved highway in the Uygur Autonomous Region of Xinjiang. China's investment flows have been identified as a possible trigger for conflict within the Indo-Pak dyad and the broader India-Pakistan-China triangle. The effects of this conflict can potentially jeopardize the region's stability and peace, consequently enhancing and multiplying existing global challenges. This study examines the impact of the Pakistan-India standoff on regional dynamics by explaining the potential conflict arising from using FDI as a tool for geoeconomic strategy.
Foreign Direct Investment, GeoeconomicStrategies, Indo-Pak conflict
Environmental Social and Governance Impetus and Firm Performance: Assessing the Role of Sustainability on Corporate Success
This study investigates the level and impact of Environmental, Social, and Governance (ESG) reporting among non-financial firms listed on the Pakistan Stock Exchange (PSX), aiming to draw conclusions on ESG reporting levels, its impact on financial performance, and the mediating role of investment rating. The findings indicate that while ESG reporting in Pakistan is increasing, compliance is below 50% for most indicators, with social sustainability averaging 53.36%. Environmental sustainability reporting is associated with improved Return on Assets (ROA) and Tobin's Q, highlighting better asset utilization and market valuation for firms that prioritize environmental disclosures. Similarly, social and governance sustainability reporting positively influence financial performance by enhancing employee productivity, customer loyalty, decision-making, and risk management. A composite ESG index demonstrates a holistic approach to sustainability, benefiting financial performance by improving stakeholder relations and capitalizing on sustainable opportunities. Investment rating mediates the relationship between ESG reporting and financial performance, suggesting that higher ESG disclosures lead to better investment ratings and, consequently, improved financial outcomes. This study aligns with existing literature from developed countries and extends the understanding of ESG reporting's benefits to a developing country context, specifically Pakistan. While ESG reporting is a well-explored area in developed countries, this study adds unique value by concentrating on non-financial firms listed on the Pakistan Stock Exchange (PSX), contributing to a relatively under-researched context in a developing country. Exploration of the mediating role of investment rating is a notable original contribution, revealing how higher ESG disclosures not only directly impact financial outcomes but also lead to improved investment ratings, which in turn enhance financial performance.
ESG, Investment Rating, Return on Assets, Tobin’s Q, Non-Financial Firms, Pakistan Stock Exchange
Organizational Politics, Occupational Stress, and Psychological Health among Traffic Wardens
Traffic wardens play an imperative role in society. They work day and night to manage untidiness on the roads and provide peaceful travel to citizens. To examine the relationship between organizational politics, occupational stress, and psychological health among traffic wardensIn this correlational study, the sample was collected from different cities of Lahore through purposive sampling. Only male 25-50 years participants with a minimum of one year of work experience in traffic wardens were included in this study and wardens with above 50 and less than 1 year were excluded from the study. Demographic form, General Health Questionnaire-28 (GHQ-28), General Work Stress Scale (GWSS), and Perception of Political Organization (POPS) measures were used in this study and data was analyzed by using SPSS, Version 26. The finding shows that organizational politics had a significant positive relationship with occupational stress which means that the individuals with more organizational politics had higher levels of occupational stress. The stepwise regression shows that occupational stress is a higher predictor of GHQ. This study concluded that there is a significant positive relationship with occupational stress which means that the individuals with more organizational politics had higher levels of occupational stress.
Organizational Politics, Occupational Stress, Psychological Health, Traffic Wardens
Engaging the Next Generation: Political Awareness and Voting Preferences in Pakistan Election 2024
This study examines the relationship between students' awareness of the political context in Pakistan and their voting preferences in the 2024 elections, while also exploring the moderating role of gender.Data were collected through a survey of 306 social sciences’ students who voted first time in 2024 elections from Khawaja Fareed University, the Islamia University of Bahawalpur, and Bahauddin Zakaria University in South Punjab. The questionnaire assessed political awareness and voting preferences, with hypotheses tested using structured regression analysis. The findings of the study revealed that political awareness has positive influence on voting preference. Moreover, gender play a moderating role on the relationship of political awareness and voting preference. The study suggests future research should investigate mediating factors, such as socio-economic background, and additional moderating variables to deepen the understanding of this relationship. Practical implications highlight the need for policymakers and educational institutions to enhance political awareness among students, which is crucial for fostering civic engagement. This research contributes to the understanding of political behavior among youth in Pakistan and emphasizes the importance of awareness in shaping electoral outcomes.
Between Rights and Realities: The Struggle for Freedom of Speech in Pakistan
In Pakistan the 1973 Constitution enshrines the right to freedom of speech. However, this essential freedom has been gradually eroded by a complex interplay of sociopolitical factors and legal restrictions. Ultimately various forces ranging from political pressures and security concerns to social and religious norms have considerably curtailed this constitutional right. The study investigates how political unrest religious beliefs and state surveillance contribute to a culture of self-censorship through a qualitative analysis of academic literature, legal documents, news articles and interviews with journalists and legal experts. This study highlights the growing discrepancy between the legal and constitutional rights and the actual experiences of people in Pakistan who are attempting to exercise their right to freedom of speech.
Does Urbanization Impede Environmental Sustainability? Panel Data Evidence from South Asia
Climate change and global warming are burning issues in present era and urbanization can be a factor of carbon dioxide emission expansion which erodes environment quality. Considering rapid urbanization in South Asia during last few decades, this study examines the association between urbanization and CO2 emission. Panel data time series econometric techniques such as; panel DOLS, FMOLS and granger causality are applied by using panel data for 1973-2018. The results show that urbanization increases CO2 emission in the long run and this finding is also supported by the results of individual country based analyses. Moreover, unidirectional causal linkage from urban expansion to carbon dioxide emission and from energy consumption to carbon emission prevail. Important policy implications are proposed based on the findings. Energy efficient urban public transportation facilities, industrial emission abatement policies, awareness of masses through media etc. can help to reduce carbon emission whereas provision of social amenities in rural areas can lead to ease press of human movement towards urban areas.
Urbanization, Carbon Emission, South Asia, Panel Analysis
Engaging with History in the Digital Age: A Study of Technology-Based Distance Learning in History
In recent years, technological advancements have revolutionised nearly every aspect of our lives, including education. Technology has had a profound impact, particularly in distance learning and teaching of history. With the rise of the internet, interactive software, and various digital tools, historical education has become more accessible and engaging. The article investigates technology-based distance learning and teaching of history, examining its effectiveness and the transformative effects it has on educators, students, and the overall learning experience. It analyses the teaching of history through traditional classroom-based methods, such as chalkboards and face-to-face teaching, to modern technology-driven platforms like online courses, virtual classrooms, and digital tools through Learning Management Systems, MS Teams, and Google Classrooms. Focusing on the teaching of history, the research investigates how technological innovations have redefined instructional approaches, engagement, and accessibility in distance learning systems. By analysing progress in educational technologies, including the use of multimedia, digital archives, interactive modules, and video conferencing, this study assesses how these tools enhance students’ understanding of historical content. It also evaluates the challenges educators face in adapting to these technologies and the efficacy of online platforms in fostering critical thinking, contextual analysis, and historical inquiry. The study examines the potential of digital tools to democratize history education, making it more inclusive and accessible, while addressing the potential drawbacks such as digital literacy gaps and the limitations of student-teacher interaction in virtual settings. To sum up, this study emphasizes the growing role of technology in shaping the future of history teaching and its implications for both instructors and learners in the 21st century.
History, Distance Learning, Technology-based Learning, Virtual Classroom, Learning Management System, Digital Literacy, Digital Tools
Servant Leadership and Entrepreneurial Performance of SME’s: Testing the Effects of Pro-Social Motivation and Duty Orientation
The purpose of this study is to investigate the impact of servant leadership on entrepreneurial performance with the mediating role of duty orientation and moderating role of pro-social motivation. Small and medium-sized firms (SMEs) are essential for the growth of the global economy because they encourage innovation and employment creation. Modern leadership models such as servant leadership put the needs of their followers first, inspiring them and promoting organizational success. In today's fast-paced company climate, entrepreneurial performance is essential. Servant leadership inspires people and promotes an innovative and trusting culture. Duty orientation encourages dedication and responsibility, which strengthens the relationship between servant leadership and entrepreneurial performance. Entrepreneurial activity is encouraged by pro-social motivation, which is driven by a sense of social duty. This strengthens the link between entrepreneurial success and servant leadership. This study used cross-sectional data from 120 employers and employees from small and medium enterprises (SMEs) to explore the impact of servant leadership on entrepreneurial performance with the mediating role of duty orientation and moderating role of pro-social motivation. The data collected were analyzed using SEM, in Smartpls4. All hypotheses proposed in this study were accepted. Findings proved that servant leadership has a significant positive influence on entrepreneurial performance. Findings also proved that duty orientation significantly mediates the relationship between servant leadership and Entrepreneurial performance. Findings suggest that Pro-social motivation moderates the relationship between servant leadership and entrepreneurial performance. Companies should focus and foster servant leadership within their leadership ranks, putting a strong emphasis on empathy and a supportive workplace environment, in order to increase organizational success. All levels of leadership can benefit from these traits being ingrained through leadership development and training programs. Additionally, encouraging a sense of responsibility in workers through training initiatives that place a strong emphasis on accountability can help businesses perform better. Pro-social motivation can further connect with servant leadership concepts and assist entrepreneurial activities by being acknowledged and valued in hiring and performance assessments.
Gender, Education, Age Group, Number of Employees, Work Experience
Impact of Bilingual Education on Students Linguistic Proficiency and Cognitive Development at University Level
This study investigates the impact of bilingual education on university students' linguistic proficiency and cognitive development. The research aims to explore the relationship between bilingual education and students' linguistic abilities while assessing its influence on cognitive functions such as memory, critical thinking, and problem-solving skills. The research hypothesizes that students enrolled in bilingual education programs were demonstrate higher linguistic proficiency and enhanced cognitive development compared to those in monolingual programs. The population consists of university students enrolled in bilingual education programs across various disciplines, with a sample of 200 students selected through stratified random sampling. The study employs a cross-sectional design, utilizing a quantitative research approach. Data collection is conducted through standardized language proficiency tests and cognitive assessment tools, supplemented by structured questionnaires to gather demographic and educational background information. The data were analyzed using descriptive statistics, correlation analysis, and multiple regression techniques to identify significant relationships and impacts. The findings of this study are expected to contribute valuable insights into the effectiveness of bilingual education at the university level, offering implications for curriculum development and educational policy in multilingual contexts.
Cognitive Development, Language, Skills, Self-efficacy, Proficiency
Unveiling the Uncanny: A Study of Gothic Elements in Jinnistan by Ayesha Muzaffar
This research explores the gothic elements in Jinnistan by Ayesha Muzaffar. This study utilizes the theory of uncanny by Sigmund Freud as a theoretical framework. Freud explores the word play between the concept of "homely" and its opposite, leading some to associate the unheimlich with the notion of the "unfamiliar." The study also uses Catherine Belsey’s textual analysis as an analytical framework. Gothic literature is a worldwide recognized genre. Gothic stories included symbols that symbolically conveyed the inner suffering of their tortured protagonists, such as supernatural phenomenon, unsettling environments, and ruined architectural settings. In Pakistan, gothic fiction is in its emerging phase with only a few writers exploring this genre in their noteworthy writings. Ayesha Muzaffar is a notable author in realm of horror fiction. The analysis of this study focuses on how the cultural elements have influenced the elements of uncanny in Jinnistan. This study aims to get better understanding of the evolutionary progression of gothic elements within Pakistani literature.
Gothic Elements, Jinnistan, Ayesha Muzaffar, Sigmund Freud, Uncanny
Let the Employees Strengthen for a Sustainable Future: A Systematic Literature Review of Sustainable HRM
This study aims to analyze the developments in construct of sustainable human resources management and to identify key elements, trends and research gaps for future. Therefore, a systematic literature review was carried out using Google Scholar database, covering the period from 2001 to 2024, which resulted in a corpus of 115 scientific articles.The date is simply tabulated The results showed four categories, which comprise 74% of the elementary units of the corpus analyzed. The first comprised studies on sustainable leadership, based on individual and group power and embedded in its principles, processes, practices and organizational values. The second demonstrated the relationship among human resources management, environmental sustainability and organizational performance. The third category considered the tensions and paradoxes between human resources management practices and sustainability: on the one hand, human resources management should focus on cost reduction and corporate profitability (in the short-term); on the other, their actions should provide long-term sustainability of organizational performance. The last category dealt with the link between human resources management and the social dimension of sustainability, especially with regard to organizational social responsibility and the company’s relationship with its stakeholders. In conclusion, this paper aims to contribute to the ongoing discussion on the topic of sustainable human resources management by analyzing the state of the art and future directions of human resources studies.
Sustainable Human Resources Management, Sustainability, Social Responsibility
Investigate How Self-Regulation Strategies can Enhance Student Autonomy, Motivation, and Long-Term Learning Outcomes
This study investigates the relationships between self-regulation strategies, student autonomy, motivation, and long-term learning outcomes among university students in Punjab. A quantitative research design was employed, utilizing a sample of 350 students from various top universities. The study hypothesized that self-regulation strategies are positively related to student autonomy (H1), significantly impact student motivation (H2), and positively influence long-term learning outcomes (H3). Data were collected through structured questionnaires measuring self-regulation, autonomy, motivation, and learning outcomes. Reliability analysis indicated strong internal consistency across scales, with Cronbach's alpha values ranging from 0.82 to 0.90. Correlation analysis revealed significant positive relationships among all constructs, with self-regulation strategies showing the highest correlation with student autonomy (r = 0.62). Multiple regression analysis confirmed the predictive power of self-regulation on student motivation (B = 0.45, p < .001). ANCOVA results demonstrated that self-regulation strategies significantly affect long-term learning outcomes (F(1, 346) = 17.65, p < .001), accounting for 30% of the variance. The findings underscore the critical role of self-regulation in enhancing student autonomy, motivation, and academic success, suggesting that educational interventions should focus on developing self-regulation skills.
Self-Regulation, Student Autonomy, Motivation, Quantitative Research, Academic Performance, Learning Strategies
The Moderating Role of Digital Innovation between Digital Leadership, learning and Sustainable Performance among Small and Medium-Sized Firms
This research effort explores the role of digital leadership, learning and innovation in influencing sustainable performance among small and medium enterprises. Digital leadership and learning have been considered as exogenous constructs to predict sustainable performance, and digital innovation is incorporated as a moderator variable to assess the relationships. This study bridges the research gap in explaining the role of digital leadership, which is an untapped research area for explaining sustainable performance. Similarly, digital learning is an essential element in sustainable performance. Further, digital innovation plays an effective and striking role in adopting and implementing technological advancements to achieve organizational goals. The researcher focused on the SME sector of Punjab, Pakistan to investigate the hypothesized relationships between variables. The convenience sampling technique was applied and G*Power was utilized to select the sample. Later, Smart-PLS was utilized for analysis. The results revealed that digital leadership remains insignificant in predicting sustainable performance. Digital learning and digital innovation were significant in influencing sustainable performance. Moreover, digital innovation moderates the relationship between digital learning and sustainable performance, but no moderation effect was observed between digital leadership and sustainable performance. Implications, future research avenues, and limitations of the study are given at the end of this paper.
Sustainable Performance (SP), Digital Leadership (D_LS), Digital Learning (D_LR), Digital Innovation (D_INN), Small and Medium Enterprises (SME)