This study examines the level of financial literacy in Pakistan. Financial literacy (or financial knowledge) is typically an input to model the need for financial education and explain variation in financial outcomes. The study reveals that the persons who have more financial knowledge, usually...

This study examines the applicability of two capital structure theories; i.e., Pecking Order Theory (POT) and Trade-Off Theory (TOT). An extensive panel dataset of 293 non-financial firms listed on the Karachi Stock Exchange (KSE) for the period 2001 to 2013 is used to test those hypotheses. The...

This study examines the valuation, liquidity, volatility, and efficiency before and after the integration of Islamabad Stock Exchange (ISE) and Lahore Stock Exchange (LSE) with Karachi Stock Exchange (KSE) to form the Pakistan Stock Exchange (PSX). The firm level daily data is analyzed to...

This case study provides an overview of the Pakistan's stock exchange (PSX) journey from not-for-profit mutual company to for-profit demutualized self-listed entity. The wave of demutualization and public listing of stock markets around the globe is being witnessed for the last two decades. This...

This is a short essay on the enhancement of scrip-wise price bands in Pakistan Stock Exchange from 5% to 7.5%. The author discussed the advantages and disadvantages of broadening the price limits from both regulatory and practitioners' perspective

This study argues the likely misallocation of capital in Pakistan associated with the perverse incentives faced by banking institutions to provide additional loans to weak businesses and households. Businesses and households are more likely to receive additional bank financing if they are...