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Journal of Accounting and Finance in Emerging Economies
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This is an Open Access Journal

Open Access journal
ISSN (Print) 2519-0318 - ISSN (Online) 2518-8488
Published by CSRC Publishing

[3 journals]

Corporate Social Responsibility Moderates the Relationship of Corporate
Governance and Investment Decisions; New insight from Emerging Markets
- Authors: Khatiba Asmat Zahra , Quratulain Benish, Muhammad Umer, Muhammad Sadiq Shahid
  Abstract: Purpose: This paper examines the relationship between Corporate Governance, Corporate Investment, and Financial Performance of firms with moderating relationship of Corporate Social Responsibility in emerging markets of Asia (Pakistan, China, Malaysia, and India). Design/Methodology/Approach: To examine the impact, the panel data of 214 non-financial listed firms from 2014–to 2019 was collected. Findings: We documented a new insight that CSR and CG are significantly associated with CI and FP. Results also show that the quality of CG and CSR enriches the CI decisions that improved FP. Findings also show that CSR moderates the relationship between CG and CI decisions, and between CG and firms’ FP. The board directors and ownership concentration have a positive relationship with CI decisions and FP. Overall CSR moderates the relationship between CI and CP. Implications/Originality/Value: These findings are beneficial to the management of corporations working in emerging markets to improve CSR activities. This research also contributes to existing literature, on how CSR moderates the relationship between CG and CI decisions in the given contexts.
  PubDate: 2022-03-31
  DOI: 10.26710/jafee.v8i1.2187
  Issue No: Vol. 8, No. 1 (2022)
Islamic Microfinance and Women Entrepreneurial Success: Mediating Role of
Human Capital
- Authors: Muhammad Zahir Faridi, Shazia Nawaz, Sadia Bibi
  Pages: 1 - 12
  Abstract: Purpose: This paper examines Islamic microfinance impeding sustainable women’s entrepreneurial performance in South Punjab, Pakistan. Further, we examine whether human capital mediates the relationship between variables Design/Methodology/Approach: To examine the impact, the primary data were collected from 220 women entrepreneurs who obtained microfinance from Islamic microfinance institutions (IMFIs) and Non-Islamic microfinance institutions operating in South Punjab, Pakistan. The correlation and regression models are used to translate the relationship and measure the impacts of microfinance on women’s entrepreneurial performance. Findings: Results show that Islamic microfinance plays a positive role in women's entrepreneurial success. Further, documented that IMFIs have contributed more to entrepreneurial growth as compared to non-IMFIs. Implications/Originality/Value: This paper can be further extended by incorporating more factors and increasing sample size in order to get more significant results.
  PubDate: 2022-03-31
  DOI: 10.26710/jafee.v8i1.2125
  Issue No: Vol. 8, No. 1 (2022)
Literacy, Poverty and Trade Openness in Pakistan: An Empirical
Investigation
- Authors: Syed Jawwad Raza Bukhari, Ahmad Raza Cheema, Salyha Zulfiqar Ali Shah
  First page: 13
  Abstract: Purpose: Education plays a vital role in improving the standard of living of the masses by providing them with better job opportunities and future earnings. This study has attempted to investigate the impact of the literacy rate on poverty in Pakistan. Methodology: This study is based on secondary data and has employed the Johansen Cointegration and VECM technique for empirical investigation. Headcount ratio is a dependent variable, employed as a proxy for poverty. In the present study, explanatory variables are literacy rate, trade openness, FDI and inflation rate. Findings: The empirical findings from the study show that literacy rate and trade openness show a negative relationship with poverty in Pakistan. However, inflation shows a positive relationship with poverty. Policy Implications: The study suggests that policymakers should initiate suitable measures to improve the education system in Pakistan. There is a dire need of increasing the enrolment rate at the primary level and special check on the drop-out ratio in public schools.
  PubDate: 2022-03-31
  DOI: 10.26710/jafee.v8i1.2112
  Issue No: Vol. 8, No. 1 (2022)
The Nexus between Economic Factors and Practice of Child Marriage: A Case
Study of District Mohmand Khyber Pakhtunkhwa
- Authors: Syed Haroon Shah, Niaz Muhammad, Aman Ullah
  Pages: 25 - 32
  Abstract: Purpose: This study aims to examine the economic factor as a stimulant behind the phenomena of child marriage in District Mohmand Khyber Pakhtunkhwa Methodology: For this purpose, 200 sample respondents were selected through quota sampling from the selected Tehsil of Mommand agency. Furthermore, a chi-Square test was performed for measuring the association between study variables at Bivariate and Multivariate levels of analysis. Findings: Findings of the study unveil that economic factors significantly contributed to the phenomena of child marriage practices for both genders Implications: Based on study findings it has been recommended that efforts on micro and macro levels should be made to decrease the level of poverty, particularly in rural areas where the practice of child marriage is more prevalent than in urban areas. By providing social alternatives to marriage, such as education, skill, and technical development opportunities, especially for young girls, and the provision of loans to the poor families for entrepreneurship, the unfortunate practice of child marriage can be significantly overcome
  PubDate: 2022-03-31
  DOI: 10.26710/jafee.v8i1.2132
  Issue No: Vol. 8, No. 1 (2022)
The Determinants of Convexity in the Flow-Performance Relationship: A
Study of Pakistani Mutual Funds
- Authors: Saleh Nawaz Khan, Javed Iqbal, Shahid Amin, Atif Rafique
  Pages: 33 - 44
  Abstract: Purpose: This paper aims to study the potential sources of convexity in the flow-performance relationship curve in the Asian region. Design/Methodology/Approach: The sample for this study includes 75 mutual funds from three broader investment categories: stock funds, balanced funds, and asset allocation funds. The data is collected from the financial reports of the respective funds from 2011 to 2020. The study employs the ordinary least square method on unbalanced panel data. Findings: The findings show that the fund flows are positively associated with fund performance in the Pakistani mutual fund market. The result also confirmed that the shape of the relationship is convex. The fund size and marketing expenditures are positively associated with convexity. However, fund age does not affect the convexity. The Result also confirmed that fund rating is not an appropriate proxy for fund size. Practical Implication- In period of low performance mutual fund management can retain their investors by increasing their marketing expenditures and fund size. Originality/Value: This paper fulfills an identified need to study the sources behind non-linear flow-performance relationship curve in the Asian region. This study also aims to resolve the conflict in literature relating to the fund size on the convexity of the flow performance relationship.
  PubDate: 2022-03-31
  DOI: 10.26710/jafee.v8i1.2162
  Issue No: Vol. 8, No. 1 (2022)
Women Empowerment Policy-2017 of Khyber Pakhtunkhwa, Pakistan; Formation,
Annual Funds Allocation, and Implementation Gap Analysis
- Authors: Shabana Gul, Javed Iqbal, Adnan Javed
  Pages: 45 - 58
  Abstract: Purpose: The government of Khyber Pakhtunkhwa (KP) launched Women Empowerment Policy (WEP) in 2017, the policy was based on the Women Empowerment Policy Framework (WEP-Framework) of 2014. Several policy interventions were planned to be achieved during the five-year implementation of WEP-2017. Approach: This study aimed to analyze WEP-2017 from three distinct perspectives: 1) the formation of WEP-2017 as a strategic policy document focusing on the analysis of the identified key performing areas, the designed objectives, and the planned interventions/activities, 2) the linkage of WEP-2017 as a policy document with the annual fund's allocation of the govt. through annual development on gender mainstreaming interventions and 3) the implementation gap analysis of WEP-2017 by reviewing and comparing the post-2017 sectoral strategies of Agriculture, Education, Health, and Industry sectors with that of WEP-2017. Findings: The study concluded that WEP-2017 objectives are non-quantifiable and specific, similarly no linkage between govt. funds allocation with WEP-2017 schemes was determined. Value: The mentioned factors along with lack of advocacy and awareness within the govt. departments led to the non-achievement of the intended objectives of WEP-2017.
  PubDate: 2022-03-31
  DOI: 10.26710/jafee.v8i1.2179
  Issue No: Vol. 8, No. 1 (2022)
Impact of Internal Corporate Governance Mechanism on Social Performance of
Microfinance Institutions in Pakistan
- Authors: Zahid Imran, Owais Shafique
  First page: 59
  Abstract: ABSTRACT Purpose: The purpose of this research is to examine the impact of internal corporate governance mechanisms on the social performance of microfinance institutions of Pakistan. Design/Methodology/Approach: A survey questionnaire was used to collect data. Data were collected manually and online (Google survey form). The data collected were analyzed through Smart PLS. Findings: The results showed that board of directors, board meetings and frequency of board meetings as components of internal corporate governance mechanism have a positive and significant impact on the social performance of microfinance institutions of Pakistan. Implications/Originality/Value: The originality and contribution of this study is that this is the first study that analyzed the impact of board of directors, board meetings and frequency of board meetings as a component of internal corporate governance mechanism on the social performance of microfinance institutions of Pakistan.
  PubDate: 2022-03-31
  DOI: 10.26710/jafee.v8i1.2186
  Issue No: Vol. 8, No. 1 (2022)