Households’ participation in and expenditure on recreation and tourism in Pakistan

We employ Heckman selection models and Probit, OLS techniques to estimate the effect of socio-economic factors on household participation in and expenditure on recreation and tourism in Pakistan. Results show that income, education, region and women’s empowerment increase the probability of households in participation in on recreational and tourism while the number of adults and children in the households decreases probability. Similarly, household income and age of the household head positively but the number of adults and children negatively affect households’ expenditure on tourism. Strategies and policies in favor of low income and large families’ participation in tourism are recommended.     

Relational capital,environmental knowledge integration,and environmental performance of small and medium enterprises in emerging markets

Although several prior studies have examined associations between firm social capital and environmental sustainability, the links between relational resources (i.e., relational capital and ties strength), environmental knowledge integration, and environmental performance have yet to be well established at the micro-level. This study, therefore, aims to determine (1) how environmental knowledge integration serves as a mediating mechanism for the relationship between relational capital and environmental performance and (2) how this impact differs at different levels of ties strength. A quantitative approach has been adopted to examine the main hypotheses using a structural equation model (SEM) technique. Two groups of actors were surveyed, including chief executive officers (CEOs) and financial officers of small and medium-sized enterprises (SMEs) operating in Dubai, United Arab Emirates. In total, 216 survey responses were gathered, suggesting a response rate of 73.22%. Our findings suggest that environmental knowledge integration is a vital mediating mechanism for the relationship between relational capital and SMEs' environmental performance. Also, we find that ties strength moderates the indirect effect of relational capital on SMEs' environmental performance via environmental knowledge integration. Our empirical evidence provides recommendations for SMEs' managers and policymakers to promote environmental sustainability in the emerging market context.     

Post-entry internationalization speed of SMEs: The role of relational mechanisms and foreign market knowledge

Prior research shows that small and medium-sized enterprises (SMEs) can utilize domestic networks with internationally experienced partners to accelerate their internationalization process. Yet, there is a lack of clarity and limited empirical evidence regarding the role of relational mechanisms within these networks in driving post-entry internationalization speed (PIS) of SMEs. To address this gap, this study examines the relational mechanisms-PIS relationship by drawing insights from the relational view to argue that foreign market knowledge mediates the relationship between relational mechanisms and PIS. The hypothesized study model is tested using a structural equation modelling (SEM) technique on a sample of 394 UK based manufacturing SMEs. Our results show that foreign market knowledge acquisition from domestic networks fully mediates the relationship between relational mechanisms and PIS. Additionally, the linkage between foreign market knowledge acquisition and PIS is moderated by domestic environmental hostility, such that the relationship is strengthened when domestic environmental hostility increases. We discuss the contributions and implications of our results and suggest opportunities for future research.     

Extrinsic psychosocial stressors and workers’ productivity: impact of employee age and industry experience

ABSTRACT

This paper aims to explore the impact of employee age and industrial experience on extrinsic psychosocial stressors that may influence the productivity of workers. Using an integrated theoretical approach, this study examines four extrinsic psychosocial stressors, i.e. work environment, infrastructure, economy and country environment. The data were collected from Pakistani construction industry through a questionnaire survey approach. The study’s findings show that workers having diverse ages did not agree over several work environments and economy-related psychosocial stressors, whereas workers having diverse industrial experiences were in disagreement over numerous country environment and economy-related psychosocial stressors. The study concludes that firms need to mitigate the work environment related psychosocial stressors in young workers, such as, over congestion and inaccessibility to different tools, high temperature and workspace atmosphere. Moreover, organizational and governmental support are direly needed to overcome the country environment-related psychosocial stressors of less experienced workers who are more susceptible to these stressors due to the complex organizational culture, occurrence of natural disasters and unfavourable economic and political state of the country.     

Does investor sentiment impact the returns and volatility of Islamic equities?

In this paper, we estimate generalized autoregressive conditional heteroskedasticity (GARCH) and vector autoregressive (VAR) models to examine whether investor sentiment impacts the returns and volatility of various U.S. Dow Jones Islamic equity indices. The results from GARCH estimations show that changes in investor sentiment are positively correlated with the returns of the Shari’ah-compliant market portfolio. In addition, we find similar results for the three Shari’ah-compliant firm-size portfolios (i.e., large-, medium-, and small-cap). However, this relationship is stronger for harder to arbitrage Shari’ah-compliant stocks; that is, investor sentiment has a greater influence on small-cap equities. Additionally, estimations from the vector autoregressive model confirm the aforementioned results. In terms of volatility, GARCH estimations suggest that bullish shifts in investor sentiment in the current period are accompanied by lower conditional volatility in the ensuing period. In general, our findings suggest that as noise traders create more risk the market seems to reward them with higher expected returns.     

Determining the impact of age and LOS on job satisfaction: a case study of Pakistan automotive industry

This research was conducted to ascertain the impact of age and length of service (LOS) on job satisfaction in engineers of Pakistan public sector. Field survey was conducted using job satisfaction survey (JSS) questionnaire having closed-ended questions. Multistage sampling was conducted using a combination of cluster sampling, stratified sampling and random sampling techniques. Power and Precision software was used to determine the sample size. JSS questionnaires were administered amongst 225 electrical and mechanical engineers from five public sector organizations. 158 usable questionnaires were received and data were analyzed in SPSS. Statistical analyses showed existence of an open mouth U-shaped relationship between LOS/age and job satisfaction. It was found that age moderates relationship between LOS and job satisfaction. Non-responsiveness of senior engineers led to one of the limitations of this study. Results of this study can be used for policy-making decisions.     

Ambition, discrimination, and occupational attainment: a study of a British cohort

Examining British cohort data we find significant differencesin the occupational aspirations of boys and girls at age 16that appear to follow a traditional pattern. To isolate theeffect of gender hiring bias on occupational attainment a conditionalhiring model is estimated. This separates the occupational preferencesof workers to join a pool of job applicants from the hiringdecision of employers. Conditional on occupational preferences,we find, in general, no evidence of hiring bias against womenexcept in manual/craft occupations. Failure to control for differencesin career aspirations, in this study, produces an overestimateof the extent of occupational sex discrimination of around 60%.     

Implications of high food prices for poverty in Pakistan

The study estimates the impacts of rising world food prices on poverty in rural and urban areas of Pakistan. Household income and expenditure data for 2004/2005 is used to estimate compensated and uncompensated price and expenditure elasticities using the linear approximation of the almost ideal demand system. Taking the unexpected component of higher domestic food prices in 2007/2008, own and cross price compensated elasticities are used to derive the changes in the quantity consumed, food expenditure and impacts on poverty assuming the food crisis happened in 2004/2005. The results indicate that poverty increased by 34.8%, severely affecting the urban areas where poverty increased by 44.6% as compared to 32.5% in rural areas. The estimates show that 2.3 million people are unable to reach even one‐half of poverty line expenditures while another 13.7 million are just below and 23.9 million are just above the poverty line. In the short run, it is important to ensure food availability to these people. In the long run, the policy environment of subsidizing urban food consumers by keeping wheat prices lower than the international price, needs to be reconsidered to provide the right incentives to increase food availability.     

Beyond the slogan of South-South co-operation

Greater South-South co-operation requires a major political initiative rather than technocratic blueprints. Its ultimate success depends on a fundamental internal restructuring of Third-World societies, including their intellectual emancipation, education of their masses and adoption of alternative development strategies to meet the basic needs of their people. Such co-operation may first emerge between a few Southern nations, rather than on a global basis, and it may follow a period of intensive South-South dialogue through a Third-World Secretariat. The real potential for co-operation is large, both in expanding South-South trade and in organizing meaningful countervailing power to negotiate a new international economic order.