This study is conducted to test the impact of two fundamental values (FCF & EPS), depicted through financial reports, on security prices. Sample includes all nonfinancial firms listed in KSE-30 Index and covers 9 years period 2000-08. Valuation of securities done through discounting of free cash...

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 paper examines the relationship between idiosyncratic risk and stock returns in BRICS (Brazil, Russia, India, China, and South Africa) countries by applying parametric and nonparametric approaches. It also explores the idiosyncratic risk puzzle by dividing firms into groups based on...

This study documents the asset pricing mechanism of Sharīʿah compliant securities listed on the Karachi Stock Exchange. We select the CAPM market model to test for the impact in variations of stock returns on a sample of Sharīʿah-compliant companies on ten years monthly data (2001-10). We...

This paper aims to empirically investigate holding periods, illiquidity and disposition effect in Karachi Stock Exchange (KSE). KSE 100 Index Companies daily data were collected for a period of five year i.e. 2003-2007. Daily returns, holding periods, illiquidity and volatility were calculated...