Finance

The innovation of generic technology for the development of the manufacturing sector has an important basic role, and for the generic technology research and development, there is lack of effective attention. Especially in manufacturing industry, the development of generic technology still can't meet the national economy and the needs of the development of manufacturing industry. Especially compared with foreign countries generic technology innovation development and application there is a considerable gap. On the basis of introducing the classification and features of manufacturing generic technology, this paper analyzes the influence factors and main body of generic technology innovation in the manufacturing industry. Finally, it derived the process model of manufacturing generic technology innovation from the process model of manufacturing technology innovation

This paper emphasizes on the measurement of mutual fund performance and timing abilities of income fund managers in Pakistan. To analyze the income fund performance Treynor measure is used which assumes that fund managers possess diversified portfolios. Timing abilities are ascertained by using Treynor and Mazuay measure and data for five years ranging from July 2009 to June 2014 is used and it consists of 30 income funds. Results showed that 23 of the total income funds had positive treynor values which indicate good performance and also an indicator of better diversification. Treynor and Mazuay measure also had a better indication of timing abilities as 2/3rd of the managers performed well in this regard.

The main purpose of this research is to examine the impact of corporate social responsibility initiative of the state bank of India on the customer satisfaction. A conceptual frame work comprised of four elements (economic, social, legal and philanthropic) developed by carroll 1991 is used to examine the impact of corporate social responsibility on customer satisfaction. A multivariate likert scale (1-5) has been developed with one additional dimension customer satisfaction. A sample of 192 customers of the bank has been used to collect the data. Regression and correlation analysis is conducted using SPSS 22 on full version of data to generate the result of analysis. The results show that there is a significant and positive impact of CSR dimensions on customer satisfaction. Also this research shows that economic CSR have a significant impact on customer satisfaction. This result is confirmed by correlation analysis. Correlation analysis shows that the CSR positively and significantly correlated with customer satisfaction. Hence the research found that there is significant and strong positive relationship between improved customer satisfaction and CSR. This study concluded that improving customer perception of CSR practices such as legal, ethical and philanthropy CSR will improve customer satisfaction. Therefore the banks should take initiatives to improve their CSR practices to enhance customer satisfaction

A sound fiscal position is an essential pre-requisite for achieving macroeconomic stability and is a critical ingredient of sustainable economic growth and poverty reduction. Better fiscal management helps mobilize domestic savings, increase efficiency of resource allocation and achieve other worthwhile development goals. On the other hand, lax fiscal policy limits options open to the government for economic recovery, sustainable growth and poverty alleviation. The present study evaluates the fiscal situation in Pakistan and sheds light on its implications for Economic Growth and poverty reduction. Study finds that Pakistan economy have shown great resilience over the years against disastrous events. However, situation of poverty reduction is not satisfactory; Pakistan’s health and education indicators depict a dismal picture when compared with the countries with same level of development. As revenue generation efforts was only partially successful and Pakistan was unable to generate adequate revenues to meet expenditure. Consequently, successive governments have tried to reduce the deficit by reducing the development expenditure which hampered the growth process and resulted in a decline in human development indicators and increased the incidence of poverty.

The entrepreneurship is one of the factors accelerating economic growth. There is a strong relationship between entrepreneurship and economic growth. Many of the earlier studies had established this relationship and had constructed theoretical models based on the empirical findings (Casson, 1990 and Livesay 1995, Goel 1997, Glancey and McQuaid, 2000,). Access to finance is one of the factors determining entrepreneurship. The small and medium enterprises in developing countries face significant barriers to finance. The small and medium enterprises are constrained by gaps in the financial system such as high administrative costs, high collateral requirements and lack of experience within financial intermediaries. Increased access to finance for small and medium enterprises can improve economic conditions in developing countries by fostering innovation, macro-economic resilience, and GDP growth. Many studies had identified the access to finance as the major factor determining entrepreneurship. The World Bank and the International Finance Cooperation (IFC) rank economies according to their ease of doing business. In this framework, the ability for business to get credit is an important criterion. The Global Entrepreneurship Monitor (GEM) Entrepreneurship Framework Condition also highlights the availability of financial resources for small, medium enterprises in the form of debt and equity, as one of the key factors for stimulating and supporting entrepreneurial activity. The World Bank Enterprise Surveys reveal that, in low-income countries, on an average 43% of businesses with 20 to 99 employees’ rate, access to finance or cost of finance as a major constraint to current operations. In high-income countries, only 11% of businesses of the same size rate, access to finance as a constraint. In this backdrop, an attempt was made to analyze the impact of financial inclusion on entrepreneurship in India.

This study focused on the impact of ICTs usage on the performance of women entrepreneurs in the South Western States of Nigeria .The purpose of the research was to highlight the types of ICTs tools frequently used by women entrepreneurs and its effect on their performances. A total of 120 women entrepreneurs who were randomly selected participated in the study and data were analyzed using descriptive statistics. The results indicated that the use of mobile phones, television, radio, magazines and newspapers are the tools frequently used by entrepreneurs while internet services, electronic mails and computers are underutilized due to the fact that they are expensive and also because majority of the women entrepreneurs lack computer skills. Furthermore, it was discovered that mobile phones being one of the ICTs tools are sources of cheaper and faster communication and majority of the respondents believed that it has contributed positively to their performances. However, it was concluded that women entrepreneurs’ use of ICT infrastructure and systems in South-Western Nigeria is limited and even the ones in use are not widely explored and channeled for business development. Therefore, the study recommended that efforts should be made by governments and service providers to ensure that women entrepreneurs are made aware of new ICT applications and innovative services that are of use to the business sector. Also, government should ensure prompt and adequate electricity supply in order to overcome the problems of incessant power failure which served as a major challenge to the usage of ICTs tools by the entrepreneurs.

This study was conducted to check the random walk behavior in the Karachi Stock Exchange. Daily, weekly and monthly stock returns of KSE 100 index for the period from 1st Jan. 1998 to 29th Feb. 2012 was tested by using descriptive statistics, VAR test, RUN test, KS test and unit root tests (ADF test and PP). Results of all the tests indicate that the KSE don’t follow random walk behavior and thus not weak form efficient, and there are chances of abnormal profit for the technical investors.

This study aims to analyze relationship between corporate social responsibility (CSR) and corporate financial performance (CFP) using content analysis from 1972 to 2012. In this study, strategy of Margolis and Walsh (2001), Orlitzky et al. (2003), and Dam (2008) is implemented and financial measures such as stock market returns, Tobin’s Q, and accounting profits ratios e.g. return on assets (ROA), return on equity (ROE), and return on sales (ROS) are targeted. Study concludes that strong positive relationship exists between CSR and CFP using Tobin’s Q as financial performance measure, mostly studies found positive relationship between CSR and CFP using ROA, ROE, & ROS as financial performance measure, and mostly studies found negative relationship between CSR and CFP using stock market returns as financial performance measures. This study will provide literature evidences as record about CSR and CFP to empirical as well as theoretical prospective researcher and limitations are discussed also.

In the modern commercial era, companies and their managers are subjected to well publicized pressure to play an increasingly active role in society – so called “Corporate social responsibility”. It has been argued that an element in this development is simply enlightened self-interest in that social responsibility enhances corporate image and financial performance. To date the evidence to support this thesis derives from North America. Outside this continent evidence for any relationship is sparse. This study will initially attempt to definethe concept of corporate social responsibility and to examine its guiding principles. Subsequently, the available empirical research into the link between corporate social responsibility and economic performance will be evaluated this study examines different impacts of positive and negative CSR activities on financial performance of hotel, restaurant and airline companies, theoretically based on positivity and negativity effects. Findings suggest mixed results across different industries and will contribute to companies’ appropriate strategic decision-making for CSR activities by providing more precise information regarding the impacts of each directional CSR activity on financial performance.

This study is based on observation on court-domination; it tries to answer how the governmental organs and their staff who were not chosen by people directly should answer people. The same essay has introduced some concepts of answering, it is to examine some answering goals in the governmental centers and their different aspects. This study is to assign an example as a theoretical form in order to compare some of usual answering systems in the world. The writer, by using the same examples of answering systems in English and America which are two political (parliamentary and boss) systems and those of Pakistan and Bangladesh have explained all details. The writer hops to study the reply systems in the foresaid societies, let us know about these systems and their effects.