Economics

This paper aims to determine the interaction of commercial energy distribution, including the installed capacity of hydroelectric energy, hydroelectric energy generation, the installed capacity of thermal energy, thermal energy generation, the installed capacity of nuclear energy, and nuclear energy generation, with economic progress in Pakistan over the 1970–2019 period. Both linear and non-linear autoregressive distributed lag models were used to ascertain the symmetric and asymmetric short- and long-run effects. The findings from the linear autoregressive distributed lag model analysis revealed evidence that increases in the installed capacity of nuclear energy, alongside higher levels of hydroelectric energy generation and thermal energy generation, have positively affected economic growth in the short run, while a greater installed capacity of nuclear energy has positively affected economic growth in the long run. The findings from the non-linear autoregressive distributed lag ...

Only unstructured single-path model selection techniques, i.e., Information Criteria, are used by Bounds test of cointegration for model selection. The aim of this paper was twofold; one was to evaluate the performance of these five routinely used information criteria {Akaike Information Criterion (AIC), Akaike Information Criterion Corrected (AICC), Schwarz/Bayesian Information Criterion (SIC/BIC), Schwarz/Bayesian Information Criterion Corrected (SICC/BICC), and Hannan and Quinn Information Criterion (HQC)} and three structured approaches (Forward Selection, Backward Elimination, and Stepwise) by assessing their size and power properties at different sample sizes based on Monte Carlo simulations, and second was the assessment of the same based on real economic data. The second aim was achieved by the evaluation of the long-run relationship between three pairs of macroeconomic variables, i.e., Energy Consumption and GDP, Oil Price and GDP, and Broad Money and GDP for BRICS (Brazil, Russia, India, China and South Africa) countries using Bounds cointegration test. It was found that information criteria and structured procedures have the same powers for a sample size of 50 or greater. However, BICC and Stepwise are better at small sample sizes. In the light of simulation and real data results, a modified Bounds test with Stepwise model selection procedure may be used as it is strongly theoretically supported and avoids noise in the model selection process.

Only unstructured single-path model selection techniques, i.e., Information Criteria, are used by Bounds test of cointegration for model selection. The aim of this paper was twofold; one was to evaluate the performance of these five routinely used information criteria {Akaike Information Criterion (AIC), Akaike Information Criterion Corrected (AICC), Schwarz/Bayesian Information Criterion (SIC/BIC), Schwarz/Bayesian Information Criterion Corrected (SICC/BICC), and Hannan and Quinn Information Criterion (HQC)} and three structured approaches (Forward Selection, Backward Elimination, and Stepwise) by assessing their size and power properties at different sample sizes based on Monte Carlo simulations, and second was the assessment of the same based on real economic data. The second aim was achieved by the evaluation of the long-run relationship between three pairs of macroeconomic variables, i.e., Energy Consumption and GDP, Oil Price and GDP, and Broad Money and GDP for BRICS (Brazil,...

This study is conducted to check volatility spillovers from the US to Emerging seven stock markets before and after the Global Financial Crisis through the VAR-GARCH model. The pre The Global Financial Crisis (GFC) sub-sample data ranges from

This paper evaluates the role that integration of Islamic corporate governance has on the overall sustainable financial performance of a firm. Unlike the case with traditional corporate governance, Islamic institutions have a shariah supervisory board (SSB) which is tasked with the role of acting as the main supervisory, ensuring that the organization is observing the established shariah principles to guide its performance. The qualitative study methodology was adopted for the study to aid in comprehension of the underlying issues concerning adoption of Islamic corporate governance in a firm and the impact it has on sustainable financial performance. The study relied on qualitative research technique via sending questionnaires to 50 CEO and Board of directors selected via snowball sampling. The questionnaires were meant to examine the concept of ICG and the impact it has on the sustainable financial performance of an organization in Turkey. The results indicate there is a strong pos...

State aid control can encourage the design of more effective growth-enhancing policies and it can ensure that competition distortions remain limited so that the European Union (EU) internal market remains open and contestable. The objectives of this paper are exhaustive in nature. One of them is to examine the impact of different aids on GDP of EU for time period of 2005 to 2015. Another is to evaluate the proportion of different aids in a year and their cross-year analysis. To achieve the objectives, descriptive as well as inferential analysis has been used and to assess the effect of different aids on GDP of EU, the Autoregressive Distributed Lag (ARDL) Model has been used. The descriptive analysis reveals that the aid in subsidies (SUB) and tax exemptions (TAX) have the larger proportion throughout the time period. The results of ARDL model conclude that the two aids SUB and TAX having the largest proportion do not have a significant impact on EU GDP.

This study examines large Canadian and US firms to decompose the variation of firm profitability into year, industry, year-industry and firm components. Return on Assets (ROA), Return on Equity (ROE) and Return on Sales (ROS) provide three measures of firm profitability. For all three measures and both countries, firm effects provide the biggest contribution to the variability in firm profits with year-industry effects second, year effects third, and industry effects last. These results match those of previous studies. Comparing Canadian and US firms, firm effects explain more of the variation in the profitability of Canadian firms. Finally, the combination of industry, year and firm factors explain more the overall variation in profitability of our sample of Canadian firms than our sample of US firms.

The purpose of this paper is of highlighting the link between motivation and job satisfaction. The research was started from a number of assumptions to show that the individual's expectations are related to motivation, while real rewards obtained by acts carried out are related to satisfaction. To achieve this goal was achieved an investigation on 68 employees using questionnaire method. The empirical basis of this paper is the interpretation’ results of all answers, obtained from the applied within the company questionnaire.

Strategic management is a form of predictive management focused on anticipating changes and changes to be made within the firm. Under market economy conditions, each firm, irrespective of its ownership, profile or size, needs to constantly adapt to market and environmental requirements in which it operates, to improve its economic and financial performance and its ability to compete in the report with other companies. This paper presents a research on the analysis of the diversification strategy of the product according to which that the company is constantly improving its existing products and increasing its product portfolio from year to year in order to maintain market leadership and consumer satisfaction with its products.

Romania has rich and varied natural and anthropogenic resources that represent a chance in the development of tourism. Economically, tourism is a factor in the progress of the country's economy, with broad and positive implications for the development of the entire society, acting in the direction of introducing tourism resources into the economic circuit. Every enterprise in the tourist complex must constantly demonstrate its ability to compete and adapt, attract new customers and keep old ones, upgrading new services, implementing development strategies, and gaining a larger market share. The aim of this paper is to analyze the consumer satisfaction of tourism market in Romania and I considered that one of the most relevant methods of analyzing the Romanian tourism vision is the method of survey. Research is based on an analysis of social, psychological, economic, managerial and cultural aspects. The purpose of applying this questionnaire was to determine how it can contribute...

This study examines the relationship between the Karachi stock exchange and macro-economic variables. Monthly data for the time period July 2005 to April 2014 has been considered. CPI, FX, GDP, INT, Gold prices and oil prices in Pakistan are chosen as the macroeconomic variables. Unit root tests, Johansen and Juselius 1990 Cointegration, long & Short term granger causality under VECM framework along with the Sims 1980 variance decomposition and Pulse impulse response function has been employed. The analysis suggest that there is the long run cointegration among the variables and KSE and all the variables granger cause the KSE 100 index in the long run whereas in short run only forex granger cause KSE. An interesting finding is the significant explanation of variance in KSE 100 Index by the oil prices in Pakistan and the adverse response of the KSE on the one standard deviation shock to the oil prices.

In the conditions of the competitive economy, a special role has the capitalization of the human and the managerial potential. Career management aims at planning and modeling the progress of employees within the organization in relation to the needs assessments of the organization, but also in relation to the performance of the potential and individual preferences of employees. Career involves the interaction between organizational and individual factors and this paper presents the parallelism between organizational career management (OCM) and individual career management (ICM). The purpose of this paper is to study the theoretical and applied aspects of the career. In order to highlight these aspects, a research was undertaken within an organization, which allowed the study of the career process and the major influencing factors.

The implementation of green supply chain management (GSCM) in developing countries is represented by less advanced economic growth than in industrialized countries. It is reasonable to presume that different nations may have different constructs influencing GSCM adoption. Even though, there is a gap in the literature regarding the execution of GSCM in developing nations like Pakistan. This demonstrates the necessity and importance of undertaking empirical research on the variables influencing GSCM adoption from the perspective of Pakistan small and medium enterprises (SMEs). To close the gap in GSCM research, this study tries to pinpoint the variables influencing GSCM adoption among Pakistan SMEs. SPSS software version 23 is used to apply statistical techniques to the primarily obtained data. The survey form was administrated to 600 target respondents from all administrative levels. There were 210 complete and usable survey forms, showing a response rate of around 35%. First, the re...

Romania has rich and varied natural and anthropogenic resources that represent a chance in the development of tourism. Economically, tourism is a factor in the progress of the country's economy, with broad and positive implications for the development of the entire society, acting in the direction of introducing tourism resources into the economic circuit. Every enterprise in the tourist complex must constantly demonstrate its ability to compete and adapt, attract new customers and keep old ones, upgrading new services, implementing development strategies, and gaining a larger market share. The aim of this paper is to analyze the consumer satisfaction of tourism market in Romania and I considered that one of the most relevant methods of analyzing the Romanian tourism vision is the method of survey. Research is based on an analysis of social, psychological, economic, managerial and cultural aspects. The purpose of applying this questionnaire was to determine how it can contribute to achieving performance in the development of Romanian tourism by knowing the peculiarities of the motivation of tourists to choose the local tourism, starting from the idea that the permanent implementation of new development strategies is the secret of an efficient management.

Strategic management is a form of predictive management focused on anticipating changes and changes to be made within the firm. Under market economy conditions, each firm, irrespective of its ownership, profile or size, needs to constantly adapt to market and environmental requirements in which it operates, to improve its economic and financial performance and its ability to compete in the report with other companies. This paper presents a research on the analysis of the diversification strategy of the product according to which that the company is constantly improving its existing products and increasing its product portfolio from year to year in order to maintain market leadership and consumer satisfaction with its products.

Performance appraisal is one of the core activities of human resource management. This activity allows the determination of the degree to which the employees perform their tasks efficiently and pay fairly and completely the responsibilities they have been assigned. The process involves evaluating the results obtained, assessing the physical, intellectual, professional and managerial potential, and comparing them with the objectives and requirements of the job occupied by the employee. The evaluation must be systematic (the evaluation procedures must be part of the firm's policy) and formalized; in addition, it allows for employer-employee dialogue. The ultimate goal of assessing employee behavior is to evaluate the organization. The objective of the paper is to carry out an assessment of the staff of the HR department and the method chosen for determining the results is that of the questionnaire.