I devise a novel way of linking the neoclassical theory and the q-theory of investment that does away with the need to impute variables from noisy market signals and directly uses the cross-section of observable and relatively more precisely measurable firm characteristics. I show that for a...

Financial inclusion for individuals has been a topic of widespread research & policy interest in the recent years. Even though widely regarded as an important policy objective, an adequate theoretical framework elaborating the choice process behind such phenomenon is lacking in the literature....

Islamic economics has its roots in the divine sources of Islam. Despite a respectable body of literature on the subject, a little progress has been made in developing theory of Islamic economics. The paper proposes a methodology for making a beginning in this direction. The divine sources of...

Making a critical review of the conventional classification of factors of production, this paper presents a new classification based on the modes of payments for them approved by shariah. Entrepreneurial and hired factors of production are then described and their demand and supply conditions...

This study examines the applicability of two capital structure theories; i.e., Pecking Order Theory (POT) and Trade-Off Theory (TOT). An extensive panel dataset of 293 non-financial firms listed on the Karachi Stock Exchange (KSE) for the period 2001 to 2013 is used to test those hypotheses. The...

The paper is a sequel of an earlier paper by the present writer on the same subject. The basic idea of the present paper as well the previous one was that the Muslim economists, if they are serious about developing Islamic economics as a social science, should move away from the process of...

The existing literature on Islamic economics has not undergone any of the processes of verification or falsification. It is mostly restatement of the postulates as found in the Qur'an or hadith. The literature on methodology of Islamic economics is either superfluous, or ambiguous or confusing....

Dr. Fahim Khan's paper critically examines the conventional method of classifying the factors of production into land, labour, capital and entrepreneurship. It offers an alternative method of classifying the factors of production into two main categories, viz., Hired Factors of Production (HFP)...

The paper aims at explaining the need for a starting point for developing an Islamic theory of economics. The paper emphasizes that what is needed is not a ‘theory of Islamic economics' but an ‘Islamic theory of economics'. It is not merely semantics. The paper explains what difference it...