This study examines the Capital Asset Pricing Model of Sharpe (1964) Lintner (1965) and Black (1972) as the benchmark model in the asset pricing theory. The empirical findings indicate that the Sharpe-Lintner-Black CAPM inadequately, particularly the explains Pakistan’s equity market...

This is an attempt to empirically investigate the risk and return relationship of individual stocks traded at Karachi Stock Exchange (KSE), the main equity market in Pakistan. The analysis is based on daily as well as monthly data of 49 companies and KSE 100 index is used as market factor...

Using micro-level household data for rural and urban Pakistan, this study estimates Engel equations for 22 commodity groups with quadratic spline specification, in which the number and locations of knots are determined through a search procedure. The study finds that the resulting flexibility...

Theft and corruption are common in electricity distribution systems worldwide. We have analysed electricity theft in the framework of an individual’s choice under uncertainty and through a three-layered principalagent- client model of corruption. The study finds that an individual steals...

Households as well as community water-supply systems for utilisation of underground aquifers are massive consumers of energy. Prevailing energy crisis and focus of the government on demand-side energy policies (i.e., energy conservation) in Pakistan raises need of using energy efficient...

This study measures productive inefficiency in the textile sector of Faisalabad due to recent energy crisis in Pakistan. Primary data is collected randomly from 125 firms of the industry. Results explain that these firms are facing huge production loss which varies from 23 to 65 percent in...

This paper explores the role of network usage, by the start-up self- employed, as a means of attracting customers. Following the theoretical rationale developed here, the network need only be used by business owners who sell goods/services which entail customer-perceived risk. For others, it may...

This paper examines the short- to medium-term trends and volatility in Karachi Stock Exchange (KSE) and further explores the nature of relationship between stock market activities and a set of macroeconomic variables in the 1990s. The analysis is based on daily and monthly data on general stock...

Theft and corruption are common in electricity distribution systems worldwide. Electricity theft is analysed in the framework of an individual’s choice under uncertainty and through a three-layered principal-agent-client model of corruption. [PIDE Working Papers 2013: 92]....

Each system owns different resources which need to be prioritized for bringing economic equilibrium in the society. This study identifies equilibrium in economic development and its relationship with social capital. Inter temporal accumulation of social capital of certain quantum takes place...