While an extensive amount of literature exists on the role of futures markets in influencing various dynamics of spot markets, the question whether they stabilize or destabilize the underlying spot market is unresolved. This study addresses this concern and investigates the impact of SSFs...

The concerns regarding regulations of futures markets and their destabilizing ability are unresolved in both developed and developing markets. Following stringent regulations of single stock futures (SSFs) for resumption episode after financial crises, this study addresses this concern and...

This study explores impact of short-term financing on the operational performance of firms and how the former is related to risk-adjusted profitability. The sample consists of 352 non-financial firms listed on the KSE (now Pakistan Stock Exchange) from 2003 to 2014. We use several dynamic panel...

In this paper, we use unique features of Pakistan's corporate environment to test information asymmetry and agency theories in explaining dividend smoothing behaviour of firms. Based on a sample of 150 non-financial firms listed at the Karachi Stock Exchange over the period of 1999 to 2012, we...

In this technical report, I show how to use asm – a Stata program to construct J-K overlapping momentum portfolios. Also, I outline details of the primary functions/ features of the program. The methods used in this program for constructing momentum portfolios are generally in line with...

This study has investigated the impact of corporate governance mechanisms on related party transactions of Pakistani firms. A sample of 160 non-financial firms are used for the analysis that has reported related party transactions in their annual reports for the sample period 2006 to 2012. The...

This research aims to analyze the risk adjusted performance of Pakistani open-end mutual funds during the time period July 2008 to July 2013 using the most important and widely used risk adjusted performance measures. A sample of 73 open-end funds is used for this purpose. The analysis is free...

During the market turmoil, and later in the year 2008, the Securities and Exchange Commission of Pakistan (SECP) decided to discontinue the trading in single stock futures (SSFs) at the Karachi Stock Exchange (KSE). On 27th July 2009, trading in SSFs were re-launched in those stocks which passed...