This study aims to investigate the direct relationship between precautionary cash holdings, cash flow volatility and the financial constraints of Pakistani firms for the period 2003–2013.The study also takes into account the 2008 financial crisis. This study seeks to discover that if a firm is...

Purpose: This study is intends to understand and document the impact of market-based — market returns and momentum — as well as firm-specific — size, book to market ratio (B/M), price to earnings ratio (PER) and cash flow (CF) — factors on pricing of Shari'a compliant securities as...

This study examines the incidence of earnings management around the privatizations of State Owned Enterprises in Pakistan during 1991-2005. Using the modified Jones model and a sample of large privatizations (minimum US$1 million), it shows that the sampled firms experienced increase in...

This paper constructs a signal-based composite index, namely ESCORE, which captures the context of earnings management. Specifically, ESCORE aggregates 15 individual signals related to both accrual and real earnings management based on prior relevant literature. After establishing that ESCORE is...

This study proposes a renewal of the contemporary Islamic banking Murabaha financing model as it aggravates financial fragility with waning economic efficiency. We adapt the working capital framework of successful US companies like Amazon and Walmart and model an innovative Murabaha facility as...