Journal of Business Studies and Economic Research

Effect of Green Supply Chain Management On Financial Performance: Moderating Effect of Institutional Pressure

Raheel Farooqi — 2023-10-04

Green supply chain management (GSCM) and environmental sustainability are still believed to be in their early stages in academic and research sectors, particularly in Asian developing countries. This study takes a more comprehensive approach to assessing the impact of GSCM on financial performance indicators, with organizational performance, environmental performance, and corporate reputation serving as mediators. Institutional pressure was used as moderator as different institutional actors are putting pressure to implement Green supply chain management practices. Data was obtained from 301 supply chain personnel in Pakistan's manufacturing industry, and the theoretical model was evaluated using partial least square structural equation modeling. The statistical results of the data collected indicates that GSCM practices have no significant impact on financial performance, but operational performance, environmental performance, and corporate reputation have a strong mediation effect on financial performance. The moderated regression analysis findings show that the presence of institutional pressures enhances the relationship between GSCM and financial performance. These findings indicate that the adoption of GSCM methods in Pakistan can be helpful to businesses, but in the long run in terms of financial performance.

South Asian Firms Pre and Post Covid-19 Capital Structure Behaviour

Mumtaz Ahmed — 2023-10-04

This study aims to identify the capital structure speed adjustment of South Asian firms, post Covid 19 crisis period. Using a total sample firms of 685 observations, the study found that the speed adjustments of Indian and Pakistani firms are 11.88% and 17.25 %, respectively. On average, Indian firms take 4.21 years to adjust partially whereas it is 2.9 years for firms in Pakistan. Secondly, this paper examines the regional variation among South Asian countries adjustment speed and the determinants which affect this speed. To examining the post-global Covid 19 crisis behavior (economic recovery period) of firm’s capital structure in the South Asian market, this study to our best knowledge is the first attempt to understand the regional macroeconomic variation in the capital structure. The Two-stage linear regression estimator is used due to its reliability over other estimation methods. The analysis provides an understanding that how economic stimulus packages affect the adjustment speed of capital structure in India, but its effect in Pakistan is not significant. It also shed lights on the other variables like size, profitability, tangibility, and GDP that affect the financial leverage and the speed of adjustment towards target leverage.

Application of CAPM in the Chemical and Fertilizer sector: A case study of the Pakistan Stock Exchange

Jameel Ahmed — 2023-10-04

This study aims to examines the Capital Asset Pricing Model (CAPM) for Chemical and Fertilizer sectors firms listed on KSE-100 from January 2010 to December 2020. The research used monthly returns of firms in the chemical and fertilizer sectors and formed three different portfolios to test the model through time series regression. KSE-100 index monthly returns are used as a proxy of market returns for this study. The findings of this study related to individual stocks support the theory’s basic statement that the risk and returns of stock are positively related to each other. Also, the portfolio of the chemical sector’s firm supported the theory. However, the portfolio of the fertilizer sector’s firms and the combined portfolio are not supportive of the theory of CAPM.

An Analysis of Closed End Funds Discount Puzzle

Abdul Majid Nasir — 2023-10-04

Purpose - This study aims to analyze the influence of fund characteristics, market characteristics and underlying assets characteristics on the closed end funds discount.

Design/methodology/approach – We selected quarterly data for 10 closed end funds traded at Karachi Stock Exchange from first quarter of 2005 to second quarter of 2015. We deployed pooled ordinary least square method to explain the relationships.

Findings – Among Fund characteristics; diversification, among market characteristics; KSE 100 index return, consumer price index and real exchange rate and among underlying asset characteristics; financial leverage, return on equity and market capitalization have significantly influenced the closed end funds discount.

Research limitations/implications – The study has a novel contribution in explaining the tendency of the discount. The current study investigates the impact of fund characteristics, underlying assets characteristics and market characteristics on the funds discount. However, the existing studies lacks in explaining the relationship between underlying asset characteristics and the discount.

Originality/value – Our results are robust from all biasness and discrepancies, since, we robust the model by rectifying the serial correlation problem indicated by Wooldridge test. Moreover, all the analysis and results are the authors' original works. Additionally, we propose that Closed End Funds Discount is a function of funds characteristics, market characteristics and underlying assets characteristics.

Keywords: Closed end funds discount, investment, funds characteristics, market characteristics, underlying assets characteristics

Exploring the Impact of E-Procurement on Supply Chain Performance in SMEs of Pakistan: The Moderating Role of Marketing Communication Strategies

Asif Iqbal — 2023-10-04

E-Procurement is a sort of B2B purchasing that makes advantage of internet commerce to locate potential suppliers, make purchases, make payments, and communicate with them. The purpose of this research is to look into the link between e-procurement and supply chain.

The goal of this study was to figure out what the most important factors can be when it comes to Supply chain performance. The subjected variables include E-procurement, Information Sharing, partner relationship, supply chain technology Internalization, supply chain integration, marketing communication. The purpose of this research was to determine which aspects of supply chain performance are the most critical. Some of the factors that have been investigated include e-procurement, information exchange, partner relationships, supply chain technology internalization, supply chain integration, and marketing communications. Previous research was done in a different geographical area with a limited number of respondents, so further studies may plan another paper in different surroundings, despite the fact that previous research only looked at limited variables.

The sample size for this quantitative study was 384 supply chain professionals, and the data was collected using a Google questionnaire form, which was distributed across Pakistan using social media sites such as WhatsApp and others, and the data was analyzed using Smart pls. E-Procurement, information sharing, partner relationships, and supply chain technologies were discussed and analyzed based on the relationships. Internalization and supply chain integration, with the exception of marketing communication, have a positive and significant effect on supply chain performance.

Keywords: supply chain technology Internalization, supply chain performance, supply chain integration, EProcurement, information sharing, partner relationship, marketing communication.