Nawaz Ahmad

Factors Influencing Students’ Career Choices: Empirical Evidence from Business Students

The right career choice for the students entering into the professional education is critical having high impact on their professional life and future achievement. This is the turning point: it cannot be left, on intuition, preconceived notions, wild imaginations or popular concepts. A missperceived career choice directs all individual efforts and resources into wrong direction, when not aligned with the expectations; would not only be frustrating Abstract

Empirical analysis of stock returns and volatility: evidence from Asian stock markets

AbstractThe objective of this research isto measure and examine volatilities among important stock markets of Asia and to ascertain a causal relation between volatility and stock returns. For this purpose six markets KSE100 (Karachi, Pakistan), BSE Sensex (Mumbai, India), NIKKEI 225 (Tokyo, Japan), Hang Seng (Hong Kong), Shanghai Stock Exchange (SSE) (Shanghai, China) and KOSPI (Seoul, South Korea) were considered. Stock market indices comprise of daily data from the period January 2002 to December 2009. The graphical representation of time series shows the preliminary examination of stock behaviors. The analysis shows the high correlation and heteroskedastic trend (volatility) among the stock markets in selected time period. After preliminary analysis the formal descriptive method of mean, standard deviation and coefficient of variation have been applied for measuring and ranking purposes. The results show that KOSPI has the highest average annual return of 12.67% and followed by BSE with 11.61%, whereas...

Speed of mean reversion: an empirical analysis of KSE, LSE and ISE indices

The purpose of this study is to determine the presence of mean reversion in the stock markets indices of Pakistan, moreover, to measure, and compare the speed of mean reversion of the stock markets indices across Pakistan. In order to carry out the research study, the daily data of three stock indices of Pakistan such as: KSE-100, LSE-25 and ISE-10 are collected from 2003 to 2014. After the application of tests such as ARCH and GARCH, it was found that returns series of KSE-100, LSE-25 and ISE-10 indices exhibit mean reversion, indicating that the returns revert back to their historical value after reaching an extreme value. Further, the mean reversion rate shows that KSE-100 index has the slowest mean reversion, however, the ISE-10 index has the fastest mean reversion among the three indices. Therefore, the results of the study concluded that KSE-100 index, due to the slowest mean reversion rate has higher volatility over a longer period of time. On the contrary, since, ISE-10 index has exhibited the fastest mean reversion with the lowest volatility as compared to others. But due to fast mean reversion rate, it will help investors to gain profits over a shorter period of time. Thus, it can be recommended that the investor willing to bear the risk of time and looking for long-term investment should invest in KSE-100 index. However, investors looking for higher profits in a shorter period can invest in the ISE-10 index but with higher risk-returns trade-off.

Estimation of long-run relationship of inflation (CPI & WPI), and oil prices with KSE-100 index: evidence from Johansen multivariate cointegration approach

This research is an attempt to framework the applied strides to evaluate the long run relationship among commonly used inflation proxies induces such as, wholesale price index (WPI) and consumer price index (CPI), and crude oil price (COP) with KSE100 index returns. In this research we used monthly data for the time period from July 1995 to June 2016, and thus, in this way total 252 observations have been considered. Time series have been made stationary by applying ADF and PP tests at first difference. Johansen multivariate conintegration approach was used to test the long-term association amongst the considered macroeconomic variables. The results indicated that CPI and COP significantly affect KSE100 index returns that indicated CPI along with COP have foreseen power to impact KSE100 index. In contrary, the results of WPI and COP do not have long run relationship with KSE100 index in case of Pakistani economy. Results of variance decomposition exhibited that the index of LKSE100 was realistically rarer exogenous in connection to distinctive factors, as around 92.31% of its variation was explained due to its own specific shocks. It is concluded that CPI and COP can impact the KSE100 index returns. It is confirmed by the results of impulse response function that there is a positive and long run relationship between KSE100 returns and consumer price index (proxy of inflation) and international crude oil prices.

Measuring consumer awareness and marketing's impact on brand selection

Today Brands have become a vital part of every humans life. They have integrated themselves into the working and non-working segments of our routine. Due to this values as well as society has changed in totality. In this dissertation it was aimed to investigate whether awareness effects a selection of a brand or marketing/advertising efforts are responsible for customers buying a certain brand. Also it was aimed how brand managers or marketers can benefit from the results of this research. Adopting a quantitative approach whereas qualitative variables will be derived to numbers as in the shift from qualitative to quantitative, data was gathered from student population of Green wich University and linear regression was applied to test the causal hypotheses. It was observed that awareness was not a significant predictor on brand selection whereas marketing/advertising was seen as a significant predictor on brand selection. This research can be followed up by brand teams and can work around the findings of this research in order to develop campaigns that will help in pointing or targeting key areas in this research aswell.

The Determinants of Job Satisfaction in Public Service Organization

In this article, the author analyses the democratization of executive power and management as the most important priority of further developing of democratic reforms in the country. It is known, that main support of democratic image of government, is provided by division of power. An article represents examples from history concerning division of power, principles of introduction of checks and balances system in public administration. Moreover, opinions of the articles author are proved by opinions on the matter of such great thinkers of history, as Platon, Aristotle, Polibiy, S.L. Montesquieu, D. Lilbern, J. Lock and others. Besides, the thoughts of President of the Republic of Uzbekistan I.A. Karimov, which are actual even nowadays, are brought in the article. The statements, which have been put forward in article, are actively realized in the country. Additionally, the Concept of further developing the democratic reforms and formation of civil society in the country, which is offered by the President of the Republic of Uzbekistan, forms the base of the actual state and public construction in the Republic of Uzbekistan. Offers in this Concept, for example, amendments and supplements in the Changes and additions are brought in the Constitution of the Republic of Uzbekistan with a view at further deepening of democratic reforms and formation of civil society, democratization of governmental authorities and management, ensuring more balanced distribution of powers between three subjects of the government. In the majority of developed countries, the institute of a vote of no confidence in which the disapproval of governmental activities is expressed, acts as a key instrument of influence of parliament on the government. Same a way adheres also to the Republic of Uzbekistan. In addition, it is remarkable, that according to the offer of fractions, the reports from heads of the ministries and departments are included in the Program within parliamentary hearings on such questions.