Behavioral finance challenged paradigms of standard finance by questioning rationality assumptions posed by market efficiency that had been a focal point for researches in finance and economics. This study aimed to test Strong-Form Efficient Market Hypothesis by employing data from emerging Stock Markets of Pakistan before its amalgamation and applied a different methodology. Firms were tested upon data availability and accordingly, ten firms were selected out of sixteen further for usability criteria of data. A part of the current study also validates the usefulness of dividend announcements for valuing the stock of KSE listed firms and suggested utilizing it in stock price revision. The market was found weak and strong form inefficient whereas the hypothesis for semi-strong form sustained overall

The study examines the volatility spillover between selected emerging Asian and developed stock markets. Moreover, the study analyzes the impact of the financial crisis on volatility spillover between the stock markets. This study used monthly observations for the period 2001-01 to 2017-12 on three emerging markets of Pakistan, China, India and three developed markets of Hong Kong, Japan and the US. First, the asymmetric volatility transmission between the stocks is analyzed by extended EGARCH representation. The study found the existence of asymmetric volatility spillovers throughout the financial crisis. The researcher estimated the VECM granger causality test in the next step. The outcomes revealed existence of bidirectional spillover between Pakistan and India, the US to Japan and Hong Kong. Unidirectional relationship was found from Pakistan and the US to Hong Kong, India to the US and Hong Kong to China. Overall, the results suggest a significant relationship between emerging and developed markets due to integration.

China and India are rising powers of Asia. Both Asian giants have to adopt the policy of interdependence by growing economic ties; on the other side, they have a strict stance on border disputes. This article describes in detail the bilateral relationship between China-India, especially under the Modi doctrine, during his first term. Secondly, it also discusses the limitation of these growing ties and growing concerns for Pakistan. The basic argument of this article is that the growing economic interdependence will affect Pakistan, especially if this interdependence transfer from the economic to military dimension. The whole data is based on exploratory in nature. A qualitative research method has been used to achieve the research goals. Tools used for data collection include oral interviews and content analysis of the existing literature on the subject in the form of books, official reports and research articles. The relevant literature has been objectively analyzed to reach a meaningful conclusion.

In view of corporate lifecycle theory, financial distress is one of the fundamental phase in the life of a firm. Despite being unaffected by Global Financial Crises 2008, that time period proved critical for the corporate sector of Pakistan. This study aims to measures the firm-level financial distress in Pakistan by employing the bankruptcy models of Altman-(1968), Ohlson-(1980), Zmijewski-(1984) and JZ-(2016) for all nonfinancial firms for the years, 2002-2014. The major findings show that Z-score is the best bankruptcy forecast model, followed by Zmijewski model. This study has significance and policy implications as it will help to choose best bankruptcy studies for timely prediction of financial distress leading towards bankruptcy and helps firms to trigger corrective measures thus helping firms from entering into failure.

This study looks into the potential effect of foreign exchange exposure elasticity (FEEE) on the financial distress of non-financial firms from an emerging country (Pakistan) and a developed country (USA) during 2003-2015. It employs mixed methodology in which a comprehensive quantitative analysis is made from the panel data of the sample companies from both countries (Pakistan and USA). Subsequently, views of Chief Finance Officers (CFOs) of different companies are given. Results show that the effect of foreign exchange exposure is not statistically significant on the financial distress of Pakistani firms at contemporaneous level but it has positive significant effect at lagged level. Results also show that at gross exposure level, foreign exchange exposure of US manufacturing firms has a significantly positive effect on their financial distress contemporaneously but not at net market level. In case of US non-manufacturing firms, the foreign exchange exposure elasticity does not impact significantly on the Z-Score at gross exposure level. But the market model shows a weak significant effect of the FE Exposure on the distress of such firms in USA at relatively higher significance level. The firms fundamental attributes except foreign sales exhibit a significant effect on the financial distress. Only debt has negative coefficient which describes a positive effect on the financial distress. The findings have notable implications for the financial stability of the firms, especially in Pakistan.

The purpose of the study is to identity and develops a comprehensive construct for the entrepreneurs in Pakistani context. The study has used qualitative review to highlight the reasons of entrepreneurship and issues faced by emerging entrepreneurs in Pakistan. The study intended to investigate the extant literature on Entrepreneurial Opportunity Recognition. The researchers focused on reputed and leading journals in order to contribute in a more objective manner. A comprehend review indicates that not just entrepreneurial factors but also shows how setups are branded. The study also highlights a comprehensive psychological model for quantitative testing. The previous studies only shows the importance and factors of entrepreneurship, however, this study also have highlighted the reasons for branding in emerging entrepreneurship. The study will impact to elaborate clearly on the information's about not only entrepreneurship but also the directions towards branding.