Contracting plays a dominant role mostly in large scale and complex projects. Its use in construction projects takes the role of risk transference and governance. Despite the developments taking place in the discipline of project management in general and contracting in specific, projects are...

The motivation for this review paper comes from the growing interest of researchers in governance mechanisms in emerging markets where family and concentrated ownership structures are ubiquitous. Specifically, in this review, we summarize and synthesize hypotheses and findings from different...

This paper presents an overview of the theoretical and related empirical literature on the association between financial system development and economic growth. It describes the role of financial system development in economic growth at the macro level, both theoretically and empirically. It...

Relationship banking has emerged as an important mechanism through which banks, especially the smaller ones, overcome problems associated with information asymmetry. Relationship banking also creates value for the borrowing firm through a number of channels such as more chances of loan...

Performance measurement has been defined and redefined over the years. Researchers have tried to explain this important area of management control with respect to their area of specialty. However, very few researches have tried to adopt a multi-disciplinary approach. This has resulted in a...

The slow diffusion of information hypothesis has emerged as a more convincing explanation for lead-lag patterns in assets returns compared to traditional explanations such as non-synchronous or thin trading, liquidity factor, or size factor, etc. We provide further support to slow diffusion of...

Several empirical studies have reported that the level of short-term financing is higher in firms operating in developing countries. Short-term financing increases risk of default as it matures quickly and leaves little room for the borrowing firm to manage its cash flows. But if the firm has a...

The debt-maturity structures of listed firms in Pakistan have shown significant decline over the last decade. In this study, we investigate changes in both the demand-side and supply-side factors that are responsible for this decline. For this purpose, we study 364 firms for a period of...

The finance literature reports mixed results about the stock market reaction to dividend announcements. This study has tried to figure out that the heterogeneous stock market reaction to dividend announcements might be attributed to several firm-specific financial and non-financial factors. In...

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...