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...

In this study, we attempt to show empirical evidence of momentum profits in Karachi Stock Exchange (KSE) using monthly stocks returns data of 609 stocks over the period June 2004 to March 2014. Using Jegadeesh and Titman (1993) methodology, we find that investors can earn positive returns by...

Purpose: This study is about the determinants of cash holding and impact of cash holding on mutual funds’ performance. In addition, the study analyzes the impact of performance-related determinants of cash holding on funds' performance. ...

Risk and returns relationship is not similar in emerging and developed stock markets. Moreover, due to reasons such as family ownership, lesser trading volume, and smaller capital market, investors in Pakistan are not sufficiently diversified. Therefore, it is argued that both idiosyncratic and...

Profit and growth are considered as important goals in managing firms. This study tests the impact of initial profits on the growth and profit on a sample of firms listed at Karachi Stock Exchange (KSE) for the period 2006 to 2011. In addition to initial profits the study also checked the impact...