- Multan, Punjab, Pakistan
- Muhammad Ali Jinnah University, Management Sciences, Graduate Studentadd
Predicting financial distress have significant importance in corporate finance as it serves as an effective early warning system for the related stakeholders. The study applies the most admired financial distress prediction O-score model... more
Predicting financial distress have significant importance in corporate finance as it serves as an effective early warning system for the related stakeholders. The study applies the most admired financial distress prediction O-score model and compares its predictive accuracy with estimated logit model. The study estimates logit model by including the profitability ratios, liquidity ratios, leverage ratios, and cash flow ratios. This study filled the gap by using the cash flow ratios to predict financial distress for Pakistani listed firms. The sample for the estimation model consists of 290 firms with 45 distressed and 245 healthy firms for the period 2006-2016 and covers all sectors of Pakistan Stock Exchange. The study provides important insights on the role of different financial ratio in predicting financial distress and shows that estimated logit model produces higher accuracy rate in predicting financial distress. JEL Classifications: G01
Research Interests:
Research Interests:
Environmental degradation has been a major source of concern for the developing countries of the world especially during last two decades. The environmental quality has become on stake in the process of achieving prime... more
Environmental degradation has been a major source of concern for the developing countries of the world especially during last two decades. The environmental quality has become on stake in the process of achieving
prime objectives of higher and sustained economic growth, employment generation and poverty alleviation.
Extended levels of consumption of fossil fuels coupled with the human induced greenhouse gases have put a
heavy toll on the environmental quality that resulted in serious and unprecedented issue of non-renewable
natural resource depletion and global warming. Keeping in mind the notion that, in the era of globalized and
liberalized world economy, analysis of environment-growth nexus would not clear the picture unless
implications of international trade, flows of foreign direct investment, financial development and poverty levels
are taken into consideration. So this study is attempt to analyze the impact of energy consumption, economic
growth, financial development, economic globalization along with poverty incidence measured by poverty head
count ratio on carbon emissions in Pakistan economy. A long run equilibrium association has been found
between carbon emissions and regressors in the carbon emission model. Long run and short run causality have
been found between the variables.
prime objectives of higher and sustained economic growth, employment generation and poverty alleviation.
Extended levels of consumption of fossil fuels coupled with the human induced greenhouse gases have put a
heavy toll on the environmental quality that resulted in serious and unprecedented issue of non-renewable
natural resource depletion and global warming. Keeping in mind the notion that, in the era of globalized and
liberalized world economy, analysis of environment-growth nexus would not clear the picture unless
implications of international trade, flows of foreign direct investment, financial development and poverty levels
are taken into consideration. So this study is attempt to analyze the impact of energy consumption, economic
growth, financial development, economic globalization along with poverty incidence measured by poverty head
count ratio on carbon emissions in Pakistan economy. A long run equilibrium association has been found
between carbon emissions and regressors in the carbon emission model. Long run and short run causality have
been found between the variables.
Research Interests:
Research Interests:
The study is focused on the analysis of financial development and growth in Pakistan economy for the period of 1972-2011. Cointegration techniques and Granger causality test based on the block exogeneity (Wald test) has been applied for... more
The study is focused on the analysis of financial development and growth in Pakistan economy for the period of 1972-2011. Cointegration techniques and Granger causality test based on the block exogeneity (Wald test) has been applied for the analysis. The cointegration test confirmed the long run association among the inflation, credit to private sector, deposits, foreign direct investment, domestic savings and economic growth. The present study supports the “supply-leading” hypothesis in Pakistan economy. Granger causality test results show that there is bidirectional causality between inflation and growth, deposits and growth, and savings and growth. Furthermore, unidirectional causality is running from foreign direct investment to growth. The coefficient of the error correction has the correct sign and is statistically significant. The study also draws some conclusion and suggests some policy implications for the establishment of robust financial sector and setting up a strong growth trajectory of the economy.