Global Disclosure of Economics and Business http://i-proclaim.my/archive/index.php/gdeb en-US support@i-proclaim.my (Managing Editor) support@i-proclaim.my (Global Disclosure of Economics and Business) Sat, 15 Dec 2018 00:00:00 +0000 OJS 3.1.1.4 http://blogs.law.harvard.edu/tech/rss 60 Comparative Analysis of Islamic and Conventional Mutual Funds’ Performance during Financial Crisis and Non-crisis Periods in Pakistan http://i-proclaim.my/archive/index.php/gdeb/article/view/537 <p>This study aims to analyze and investigates the differences in performance of Islamic and conventional mutual funds in three periods, namely the period during the financial crisis period, dated 2008 to 2009, after crises period 2010 to 2017, and the whole period, dated from 2007 to 2017. More specifically the study aims to investigate whether the Shariah compliant Equity, Income and Assets Allocation Mutual funds performed better in terms of risk adjusted basis as compared to the conventional Equity, Income and asset allocation mutual funds. The risk return behaviors were examined by employing performance measures such as Sharpe, Treynor, and Jensen Alpha. Moreover, their performance in coping of systematic risk is also analyzed by regressing macroeconomic variables on returns. Study concluded that Conventional Income mutual funds perform better in all three periods including (crises and non-crises) compare to its counterpart Islamic income mutual funds in both risks adjusted basis and simple arithmetic mean basis, however their difference is not statistically significant. Study also found that Islamic equity mutual funds perform better in crises period as compare to its conventional equity mutual funds in risk adjusted basis In crises period both funds gave negative return, but Islamic equity mutual funds declined less than conventional mutual funds which shows that Islamic mutual funds provide better hedging in crises period., however there were no significant difference among the two in the other two periods. Similarly, Assets Allocation funds also have no significant difference among themselves, however Islamic asset allocation mutual funds outperform conventional asset allocation mutual funds in all three periods, especially in crises period where Islamic funds showing positive returns as compared to conventional fund that were suffering in loss of about 14%. Overall the whole period performance of Islamic mutual funds is slightly better but not statically difference.</p> Imran Ahmed, Danish Ahmed Siddiqui ##submission.copyrightStatement## http://creativecommons.org/licenses/by-nc/4.0 http://i-proclaim.my/archive/index.php/gdeb/article/view/537 Sat, 15 Dec 2018 00:00:00 +0000 An Evaluation on CSR Expenditures and Its Relationship with Financial Performance Variables of the Nationalized Commercial Banks (NCBs) in Bangladesh http://i-proclaim.my/archive/index.php/gdeb/article/view/538 <p>At present corporate social responsibility (CSR) has become an important tool due to contribute the sustainable economic development by ensuring the different benefits for the stakeholders. Corporate social responsibility (CSR) expenditures are extending accepted issue for economic development in competitive business world. The study examines the corporate social responsibility (CSR) expenditures and its relationship with financial performance variables of the sample banks between the years 2012 to 2016 with the use of secondary data. Findings from the analysis display that the sample banks have contributed in the different activities under corporate social responsibility (CSR) program but the contributions were not sufficient over the study period. The study revealed that the corporate social responsibility (CSR) expenditures of the sample banks have shown increasing and decreasing tendency during the study period. The study also revealed that there is no significant influence of financial performance variables on corporate social responsibility (CSR) expenditures of the sample banks over the study period.</p> Mst. Hasna Banu, Aditi Sonia Aishi, Taposh Kumar Neogy ##submission.copyrightStatement## http://creativecommons.org/licenses/by-nc/4.0 http://i-proclaim.my/archive/index.php/gdeb/article/view/538 Sat, 15 Dec 2018 00:00:00 +0000 Impact of Customer, Environment and Company Side Uncertainty and Risk on Logistical Performance: An Analysis on Pakistan Courier Industry http://i-proclaim.my/archive/index.php/gdeb/article/view/539 <p>This study investigates the supply chain uncertainty and risk on the logistics performance of Pakistan courier industry. The three main constructs under the supply chain uncertainty are company side, customer side, and environmental side risk uncertainty. The data has been gathered by means of a questionnaire with a seven scale measurement from which 200 responses have been gathered from the managers, staff members to higher-level managers of the Pakistan Courier industry. The study has used structural equation modeling for the data analysis. The study found that there is a significant relationship between the company-side, customer-side and environmental side risks on the logistics performance of the Pakistan courier industry. The statistical analysis clearly reveals that the courier has been facing the major risk that could affect the health and performance of the company, therefore, it is important to focus on the logistics performance as it is the most notable factor to make courier industry efficient and directly interrelates with the company progress and success.</p> Sehran Akram, Danish Ahmed Siddiqui ##submission.copyrightStatement## http://creativecommons.org/licenses/by-nc/4.0 http://i-proclaim.my/archive/index.php/gdeb/article/view/539 Sat, 15 Dec 2018 00:00:00 +0000 Factors Affecting Islamic and Conventional Mutual Funds’ Returns. A Comparative Analysis of Different Classes of Funds in Pakistan http://i-proclaim.my/archive/index.php/gdeb/article/view/540 <p>This study aims to analyze and investigate the factors influencing returns of Islamic and conventional mutual funds in Pakistan. Furthermore, this study aims to investigate whether macroeconomic and systematic factors affect Shariah compliant Equity, Income and Assets allocation Mutual Funds differently as compared their conventional counterparts. Different statistical techniques like correlation and regression analysis were applied to study their effect. The study concluded that macro-economic factors have an impact on both conventional and Islamic mutual funds however their impact seems to be insignificant at large. Overall funds behaved negatively with discount rate, inflation and GDP, whereas positively with trade and market index. Apart from income funds that were affected positively with discount rate. Furthermore, income funds were not affected by market index.&nbsp; Moreover, inflation and GDP that is usually backed by higher interest rates, also effects overall returns negatively. There was no significant difference in the behavior among the Islamic and conventional funds with respect to the above-mentioned factors. Lastly, there was high correlation among both the equity and asset allocation based mutual funds (both Islamic and conventional). It was also found that asset allocation funds had close resemblance to equity-based funds as compared to income-based funds in term of factors influencing their returns, which suggested that most of the asset allocation funds have more portion of equity as compared to debt and could be considered high risk. Hence, they seem to be against Modern portfolio theory Markowitz (1952) presuming it to be in a minimum level of risk.</p> Imran Ahmed, Danish Ahmed Siddiqui ##submission.copyrightStatement## http://creativecommons.org/licenses/by-nc/4.0 http://i-proclaim.my/archive/index.php/gdeb/article/view/540 Sat, 15 Dec 2018 00:00:00 +0000 Challenges and Opportunities of Grocery Business: A Study on Rangpur City Corporation in Bangladesh http://i-proclaim.my/archive/index.php/gdeb/article/view/543 <p>The study has revealed the challenges and opportunities of grocery business in Rangpur City Corporation in Bangladesh. Seventy individual shop-keepers from seven different areas in Rangpur City Corporation have been selected following stratified random sampling technique and the first-hand information has been collected from the selected respondents using structured questionnaire for rigorously study with due diligence. Empirical findings have revealed that the age of most of the shop business is within the range of five to ten years and the average growth rates of sales and profit are very insignificant and in both the case it is below 10 percent. On the whole, the shop business is not doing. The research finding disclose a long list of hurdles that stand in the way to healthy growth of these highly popular business segment where about 0.75 percent of the citizens are depending for their livelihood. Among the bottlenecks, shortage of capital and severe compaction are the leading causes. Therefore, the study recommends for easy access to the bank credit with a very low rate of interest and lenient terms for sustainable growth in grocery business and welfare of the tiny businessmen as well as their family members and dependents.</p> Omar Faruque, Ayasha Siddiqua ##submission.copyrightStatement## http://creativecommons.org/licenses/by-nc/4.0 http://i-proclaim.my/archive/index.php/gdeb/article/view/543 Sat, 15 Dec 2018 00:00:00 +0000