This paper is an attempt to explore the buffering role of environmental factors and access to financial capital on entrepreneurial orientation (EO) and SMEs performance relationship in Pakistan. The population of the study consists of all the SMEs that are operated in KPK, Pakistan. We select the sample from the Peshawar division, which includes three districts i.e. Peshawar, Charssada and Nowshehra. The study used a multistage cluster sampling technique. Through this technique, the study finally selects the 254 organization from the selected population. The managerial levels employees of SMEs were the respondents of the study and the responses were gathered through a structure questionnaire. The study found a significant positive relationship between EO and firm SMEs performance. It is also found that the relationship between EO and SMEs performance is moderated by access to financial capital. Furthermore, EF did not affect the relationship.

The paper aims to extend the resource-based view to dynamic capability view under dynamic environment, by investigating the effects of three strategic orientations (i.e., customer, competitor, and technology) on firm performance mediated through dynamic capabilities. A sample of 180 pharmaceutical firms of Pakistan was drawn using simple random sampling. Data was collected through a self-administrated questionnaire and analyzed using the variance-based structural equation modeling. The findings demonstrated that customer, competitor, and technology orientations have both a direct and indirect relationship with firm performance. The study offers Pakistani pharmaceutical firms a better comprehension of their strategic orientations and demonstrates how the alignment of strategic orientations with dynamic capabilities may result in better firm performance.

European Union passed a resolution in 2002, which bound all the listed companies and firms and required the consolidated and simple accounts to use Financial Reporting Standards starting from January 2005. It will improve firm performance and will have an influence on the information environment for the listed firms. This study provides empirical and theoretical literature regarding the adoption of IFRS, accounting Conservatism and firm performance. This paper provides different theories that discuss the impact of IFRS and accounting conservatism on a firm performance that includes positive accounting theory, modernization theory, contingency theory, and world system theory.

Merger and acquisition (M&A) is a growth policy for business to achieve desire objectives. Its importance is showed by the number of transaction in the previous year. Thus, this study is conducted to know about the influence of M&A on firm performance. The current study is to identify the influence of M&A (pre and post) on bidding banks in Pakistan. And then to analyze factors of firm, industry and countrylevel effect the financial performance of M&A firms. For this purpose, selected 51 listed bidder banks during 2002-2013 and used descriptive statistics, Z test, and regression models for analysis. Results show that M&A is failed to produce a fruitful result for bidding banks in Pakistan. Hence, recommended that direction and practical implication are provided to banks, investors, and policymakers to get knowledge about M&A to secure their investment from financial losses.

Prior literature reports that macro-economic factors of a country affect stock exchange performance and thus firm performance. Recent strands of literature and the fluctuations in currency have a substantive effect on countries' economies. These fluctuations are also a cause of price fluctuations of imports and exports. One such factor which directly affects firm performance is the oil price fluctuations. Thus, this thesis empirically investigates the effect of oil price fluctuations on firm risk for the firms listed on PSX for the period 2012-2017. Secondary data is taken from SBP, Balance Sheet Analysis Database, Pakistan Stock Exchange and the company's website in some cases. Using Panel data, results show that oil prices increase firm risk (beta), which indicates that market participants react to change in oil prices and thus increases risks. The study indicates that policymakers need to control oil prices to keep firm risk in control and thus manage the market towards a better investment environment.

Current study investigates the effect of working capital management on firm performance with the moderating role of ownership structure. A random sample of 77 firms for the period 2011-2015 was selected. By using fixed effect model the study demonstrated statistically significant negative relationship of leverage, average collection period and quick ratio on firm performance, while current ratio, account payable and inventory turnover found with positive significant effect on Firm Performance. Further, the effect of working capital on firm performance was positively affected by Institutional ownership and negatively affected by Managerial ownership. Thus, the results suggest that the owner/manager needs to manage their limited resources efficiently for the improvement of profitability. It is also advised that investor and shareholder pay attention to the level of institutional and managerial ownership at the time of investment..