The Impact of Going Public Decision on Company Performance: Evidence from Pakistan
This study inspected the association of company performance with the choice of IPO of the firm's registered on the Pakistan Stock Exchange. In particular, two dimensions of performance, Return on Sales and Return on Asset as operating and Tobbin Q as Market performance as dependent variables, Bank debts, Capital Expenditure, Ownership Concentration, Sales Growth and Firm Size as independent variables along with the age of the firm as control variable have been used. Sample of 40 Pakistani IPOstaken for the period of 2005-2016. OLS inferences confirmed that the performance of both pre-IPO and Post-IPO show an influential association with the independent variables. This study provided a path to smaller firms that are in the process to go public. Whereas glimpses for the investors also provided who want to add profitable securities to their portfolio bucket.
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SECP, PSX, IPO, CDC, Operating Performance, Market Performance
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(1) Ihtesham Khan
Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, KP, Pakistan.
(2) Sikandar Shah
MS (Management Sciences), Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, KP, Pakistan.
(3) Wisal Ahmad
Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, KP, Pakistan.
The Impact of Merger and Acquisition on Bank Performance: A Case of Pakistani Banking Sector
Merger and acquisition is the strategy used by banks to expand its development process. In the current study operating and market performance has been assessed of the Banks exercised the M&A by taking the data from 2005-17. The main focus of the study is to evaluate the Banks performance using data collected from nine banks gone through the merger and acquisition strategy with the help of ordinary least square model. The results show significant relationship operating performance but insignificant relation with market performance. Findings provided an opportunity for the Banks to study and utilize the M&A strategy for capturing market share and further development in the competitive market. Furthermore, a glimpse for potential investors has been provided who want to create a profitable portfolio according to market concentration. The implications demands that proper improvement should be considered for the mechanism and regulatory policies to ensure the security of Banks.
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Return on Assets, Merger and Acquisition, Pakistan Stock Exchange, Banks, Operating Performance, Market Performance.
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(1) Muttalib
MS Management Sciences, Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, KP, Pakistan.
(2) Muhammad Faizan Malik
Assistant Professor, Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, KP, Pakistan.
(3) Shehzad khan
Assistant Professor, Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan, KP, Pakistan.
Corporate Sustainability Practices and Organizational Economic Performance
Since last decade corporate sustainability has been of great interest to practitioners and researchers, both. Successful implementation of sustainability practices is vital for organizational survival and competitive advantage. Based on institutional theory, this study aims at to enhance understanding regarding the relationship of sustainability practices and corporate performance directly and indirectly through non-financial performance. Data from managerial level employees of manufacturing and services providing organizations of Pakistan was collected through a survey questionnaire. Based on 346 participants’ responses we found that sustainability practices (exploration and exploitation) have significant relationship with financial and market performance. The multi-mediation analysis shows that all mediators partially mediate the relationship between sustainability practices and corporate performance. In the context of Pakistan, this study is the first of its kind to validate sustainability practices scale.
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Sustainability Practices, Financial and Market Performance, Non-financial Performance, Multiple Mediation
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(1) Sajid Rahman Khattak
Assistant Professor, Institute of Business & Management Sciences, The University of Agriculture, Peshawar, KP, Pakistan.
(2) Imran Saeed
Lecturer, Institute of Business & Management Sciences, The University of Agriculture, Peshawar, KP, Pakistan.
(3) Bilal Tariq
Assistant Professor, Department of Management Sciences, COMSAT, Vehari Campus, Vehari, Punjab, Pakistan.