Journal of Management Science Research Review
The Journal of Management Science Research Review (JMSRR) is a double-blind peer-reviewed scholarly journal that publishes high-quality empirical and theoretical research articles in all areas of management science. The journal is committed to publishing rigorous and relevant research that makes a significant contribution to the field of management science.
From Compliance to Capability: Reframing Financial Due Diligence in Global Health Partnerships
Financial due diligence is a central component of global health financing, primarily designed to ensure accountability and mitigate financial risk. However, in practice, it is often applied as a compliance-driven, pass/fail mechanism, which may limit the participation of high-potential partners, particularly in low-resource settings. This paper argues for a reframing of financial due diligence from a risk-screening tool to a strategic enabler of partner capability and programme effectiveness. Drawing on existing literature and practice-based insights, the paper proposes a capability-oriented due diligence approach that integrates risk management with structured capacity building. The paper contributes to ongoing discussions on global health financing by outlining a conceptual framework that balances accountability with the need to support innovation and strengthen institutional capacity.
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Blue Economy Development in Pakistan: Employment Potential and Policy Readiness
Pakistan's blue-economy is strategically important but immensely underutilized. The country possesses a major Arabian Sea coastline, three commercial ports, significant fisheries resources, globally important mangroves and a long underused Makran coast, yet policy rhetoric has moved faster than implementation. The study focuses on the sectors most likely to produce real jobs rather than speculative headlines: fisheries and post-harvest value chains, aquaculture and mariculture, coastal tourism, ports and logistics, shipping support services, ship recycling and repair, blue carbon and coastal ecosystem restoration. It uses comparative policy analysis, legal framework, sector diagnostics and official statistical evidence to test not only where employment may emerge along-with capacity whether the legal and institutional architecture is ready to support . Pakistan is not starting from zero, but it is not governing the blue economy at an internationally credible standard either. Ports and maritime security institutions are relatively stronger; fisheries governance remains only partly effective; aquaculture, tourism management and ship-recycling compliance remain underprepared; and climate adaptation is still insufficiently integrated into economic planning. Recent federal and provincial policy moves in 2025-26 show greater seriousness than before, especially in Balochistan, but implementation remains uneven. The country can make the most realistic employment gains from disciplined upgrading of existing value chains through traceability, harbour modernization, better cold chain, skills, environmental compliance, coastal service systems and community inclusion. Pakistan does not lack maritime assets. It lacks coordinated execution, investable project pipelines and credible federal-provincial delivery arrangements.
DIGITAL PAYMENT SYSTEMS AND FINANCIAL INCLUSION IN DEVELOPING COUNTRIES: PANEL EVIDENCE FROM 24 EMERGING ECONOMIES, 2010–2023
We investigate the effect of digital payments on financial inclusion in 24 developing economies between 2010 and 2023. Using a balanced panel data from the World Bank Global Findex Database, World Development Indicators, and IMF Financial Access Survey, the study estimates Pooled OLS, Fixed Effects and Random Effects models to investigate the effects of mobile money adoption and digital payments on total account ownership, female account ownership and account ownership for the poorest 40% of the population. The Hausman specification test is used to inform model choice. The empirical results show that digital payments have a statistically and economically significant positive impact on overall account ownership (β = 0.927, p < 0.001) and financial inclusion of women (β = 0.876, p < 0.001), and mobile money adoption has a significant impact on the reduction of exclusion gaps among the poorest income quintile (β = 0.653, p < 0.00 The gender financial inclusion gap is largely driven by country-specific effects. The Friedman non-parametric tests validate the highly significant improvement across all Global Findex surveys (2011-2021) within countries. This research extends the burgeoning research on fintech-inclusion by offering panel evidence and policy insights for policymakers, regulators and development practitioners in the Global South. Keywords: Digital payments, financial inclusion, mobile money, panel data, developing countries, gender gap, fintech
Exploring the Dynamics of Financial Markets and Corporate Financial Decisions
Background: The financial markets and corporate financial decisions are closely intertwined and have an important influence on economic results. The way in which market, in terms of stock prices, interest rates, and volatility affect corporate decisions, and vice versa, is a significant research topic. These aspects have been studied independently in previous studies, yet the mutual relationship has not been investigated to the full extent. The purpose of the research is the following: the investigation of the dynamic relationship between a financial market and corporate financial decisions and how the variables of the market translate into corporate strategies and vice versa. Method: It was a mixed-method study involving both quantitative and qualitative analysis of the secondary data (financial markets stocks prices, interest rates, market volatility), and qualitative data (interviews with corporate managers). The data were analyzed using regression analysis, correlation tests and thematic analysis. Findings: The findings indicate that the financial market conditions, including the changes in stock prices and interest rates, play a major role in the decision-making process of corporate investment, capital structure, and risk management. Conversely, these are corporate decisions which include capital expenditure and dividend policy of the company and are felt in the behavior of the market. Conclusion: The paper shows how the financial markets and corporate financial decisions are mutually dependent on each other. It points to the necessity of a complex solution to realize how they influence each other, which can be helpful to managers in corporations and investors.
Fear Of Being Offline: Nomophobia As A Predictor Of Anxiety Among Students
The current research paper was meant to investigate the connection between nomophobia and anxiety in university students. Two hundred and sixty students were chosen, and nomophobia and anxiety levels were measured with the help of standardized tests, such as the Nomophobia Questionnaire (NMP-Q) and the Beck Anxiety Inventory (BAI). A regression analysis was performed to estimate the predictive relationship between the variables, whereas independent samples t-test were used to study differences based on gender. The results indicated that nomophobia was a significant predictor of anxiety in university students which means that there was significant correlation between the variables. Also, significant gender differences in the scores of nomophobia and anxiety were found in both male and female students. The results indicated that the differences in means were significant although there were higher scores in males in terms of anxiety, the findings indicate that nomophobia is not a major predictor of anxiety in this sample. Such results indicate that more studies are required to understand additional psychological and situational variables that could contribute to anxiety in students of universities.
Privatization-Induced Job Insecurity and Its Multilevel Consequences: A Qualitative Study of Psychological, Performance, Health, and Social Outcomes in Pakistan’s State-Owned Financial Institutions
Present study aims to explore the role of privatization-induced insecurity of job among employees of Pakistan’s public sector financial institutions and to examine the multidimensional consequences related to physical health, family, work-life imbalances, and psychological related domains. 125 semi-structured in-depth interviews taken under qualitative study by utilizing the interpretivist approach among state-owned five financial institutions which are undergoing privatization or anticipating privatization. Interviews were analysed through thematic analysis to know the patterns in lived experiences of employees. Results of the study indicate that perceived job insecurity due to privatization functions as persistent and chronic stressor factor rather than temporary change is the organization. Emotional exhaustion, stress, and anxiety are the main psychological strains that emerges as mechanism which link to perceived job insecurity and be a reason for multiple outcomes like reduce contextual and task performance, physical health deterioration, work-life imbalances, and negative spill-over into social relationships and family. Coping strategies at individual level provides relief up to limited level but organizational support plays crucial role in mitigating adverse effects of perceived job insecurity due to privatization among employees. The study contributes theoretically and methodologically by utilizing the in-depth semi-structured interviews. Policymakers and leaders of organizations must incorporate the well-being of employees while considering privatization of state-owned institutions by effective strategies of communication, stress-reduction interventions, and supportive management practices.
Social media Based Destination Brand Community Engagement (SMBDBCE): a mediated analysis for the social-media marketing strategies of destination brands in Pakistan
With the advancements in the technology, social media has gained a significant importance in the tourism sector, markedly for destination branding. Literature has ample work available on the branding but scant literature is available on the social media marketing strategies and its impact on branding specifically the branding of northern destinations of Pakistan. To fill the mentioned gap in the literature, this study has conceptualized the framework of social media engagement and its impact on the destination brand visit intention of the tourists as a consequent of positive engagement on the social media-based destination brand platforms. The study has analyzed the impact of social media Based Destination Brand Community Engagement (SMBDBCE) on Intention to Visit (ITV) and the mediated impact of Destination Brand Customer Engagement (DBCE) in this relationship. The study has used a quantitative approach and has collected a sample of 351 visitors of northern destinations of Pakistan i.e. Naltar Valley and Fairy Meadows in this study, via purposive sampling: a non-probability sampling technique and the analysis has been done by using Structural Equation Modeling (SEM) on Smart PLS 4. The results have revealed that there is a positive and significant relation between the Social Media Based Destination Brand Community Engagement (SMBDBCE) and Intention to Visit (ITV) and the Destination Brand Customer Engagement (DBCE) significantly and positively mediates this relationship. The results have shed light on the notable need for the northern destination brands of Pakistan to develop such marketing strategies for their social media based destination brand platforms that engage the tourists and visitors in those platforms by the provision of adequate information and lucrative user friendly pertained facilities that enable them to share the positive and worthwhile experiences to facilitate the social media based destination brand community.
Nexus Among Financial Stability and Financial Performance
The study finds how Pakistani commercial banks' financial performance is impacted by financial stability, specifically non-performing loans (NPL). It employs economic value-added (EVA) and return on assets (ROA) as performance measurements, taking into account macroeconomic data like gross domestic product (GDP), inflation, and monetary policy rates in addition to internal aspects like bank age and size. NPL and both financial performance metrics are negatively correlated, according to an analysis of panel data from 15 banks between 2020 and 2025. Furthermore, although the monetary policy rate has a negative impact on performance, its effect on EVA is considered negligible. On the other hand, variables like GDP, bank age, and size have a strong positive impact, especially on ROA. The study suggests that banks adopt more stringent financial stability guidelines, update these guidelines frequently to improve loan procedures, and evaluate the depreciated asset values used as collateral on an annual basis in order to improve financial performance. Notably, this study creatively uses EVA to investigate the relationship between financial stability and financial performance—a metric that was frequently disregarded in earlier research.
Public Funding and Public Benefit: Balancing Commercialization and Equity in Health Innovation
Public funding plays a critical role in advancing health innovation, particularly in high-risk areas such as vaccine development and pandemic preparedness. However, the relationship between public investment and public benefit remains contested, especially when commercialization processes prioritize private returns over equitable access. This paper examines the tension between public funding, commercial incentives, and public health outcomes, arguing that public benefit is not an automatic outcome of public investment but must be actively negotiated. Drawing on existing literature and recent global health experiences, including the COVID-19 pandemic, the study identifies key limitations in current funding models, particularly their emphasis on risk minimization and insufficient mechanisms for ensuring equitable access. The paper proposes a “Balanced Public Return Framework” that integrates risk-sharing, access conditions, commercial incentives, and accountability mechanisms to better align financial structures with public health goals. The findings highlight the importance of structured negotiation strategies and adaptive financing models to ensure that public investments generate meaningful and equitable health outcomes while sustaining innovation.
EXPLORING THE LINK BETWEEN HIGH-PERFORMANCE WORK PRACTICES AND INNOVATIVE WORK PERFORMANCE: THE MEDIATING EFFECT OF EMPLOYEE MOTIVATION
Background: High-Performance Work Practices (HPWPs) are widely recognized as strategic human resource practices that enhance employee capabilities, motivation, and organizational performance. However, limited research has examined how HPWPs influence employees’ innovative work performance, particularly in Pakistan’s manufacturing sector. Moreover, the underlying psychological mechanisms explaining this relationship remain insufficiently explored. This study investigates the impact of HPWPs on innovative work performance, focusing on the mediating role of employee motivation in selected sugar manufacturing companies of Khyber Pakhtunkhwa, Pakistan. Methods: The study adopted a positivist research philosophy and a quantitative survey design. Data were collected from employees working in various departments and job levels in selected sugar mills in Khyber Pakhtunkhwa. Stratified random sampling was used to ensure proportional representation of employee categories. Five High-Performance Work Practices were examined: recruitment and selection, performance appraisal, training and development, employee involvement, and compensation system. A structured questionnaire was used to collect primary data, and the responses were analyzed using Statistical Package for the service solutions (SPSS) version 21. Results: The findings revealed that all five High-Performance Work Practices had a significant positive relationship with employees’ innovative work performance. The analysis further indicated that employee motivation significantly mediated the relationship between HPWPs and innovative work performance. This suggests that effective implementation of HR practices enhances innovation primarily by improving employees’ motivation. Conclusion: The study concludes that High-Performance Work Practices play a crucial role in promoting innovative work performance through enhanced employee motivation. The findings contribute to the limited empirical literature on HRM practices and innovation in Pakistan’s manufacturing sector, particularly the sugar industry, and provide practical implications for managers seeking to improve innovation through effective human resource strategies. Keywords: High-Performance Work Practices, Employee Motivation, Innovative Work Performance, Human Resource Management, Sugar Industry, Pakistan.
Measuring and Mitigating Inequality in AI-Driven Labor Markets
The quick integration of AI into labor markets have fueled concerns of economic inequality with respect to wage polarization, job displacement, and unequitable distribution of technological dividends. While these problems are already established through various researches, lack of measures and policies for AI induced inequality is evident. This paper tries to build a comprehensive measurement system for inequality with the focus of AI influenced labor markets and policy and technology that can tackle it. It will be theorized that AI has a disproportionate benefit on high-skill labor and has made low-skill and routine labor vulnerable. Based on the mixture of methods (econometric estimation on labor markets, simulation to model potential adoption of AI) inequality metrics such as Gini coefficients, wage dispersion indices, task based measures are being considered. Policy and case study can also be adopted to compare policy and technology such as reskilling and taxation, and algorithmic fairness solutions. The findings of this study would argue that adoption of AI exacerbated current inequality, through increasing demand on high-skill and mechanization on routine labor. But well-designed policy of reskilling workforce, inclusive design of AI and redistributive policy can effectively mitigate these impacts. Early policy and action have a larger effect than reactive measures. In conclusion, this research is an effort to illustrate both the potential to worsen economic inequality and solutions by AI and contribute to the design of effective AI policy for equitable future.
THE IMPACT OF NON ECO-FRIENDLY PACKAGING ON GREEN BRAND EQUITY: THE MEDIATING ROLE OF GREENWASHING & ECO-LABEL CONFUSION & THE MODERATING ROLE OF BRAND TRUST & GREEN BRAND
The research aims to determine the antecedents of green brand equity in Pakistan’s FMCG market through green branding, eco-label credibility, perceived greenwashing, and their interactive effects. The need for environmental friendliness is proposed as a moderator on the effects of green branding and brand trust toward green brand equity while examining the mediating roles of eco-label credibility and perceived greenwashing in the relationship between environmental friendliness and green brand equity. This positivist quantitative research employs a cross-sectional survey method. Primary data were collected from 409 respondents among FMCG consumers in Pakistan using a structured questionnaire comprising closed-ended questions based on five-point Likert scales ranging from strongly disagree to strongly agree with statements related to different constructs under study. Data analysis involved the PLS-SEM (SmartPLS) application for assessing both measurement model validity/reliability aspects, together with testing direct/moderating/mediating paths’ significance levels within the proposed conceptual framework model structure. The results show that the need for environmental friendliness significantly increases both perceptions towards eco-label credibility as well as perceivedgreenwashing. The moderating effects of environmental friendliness on the relationship between brand trust and green brand equity, and green branding and green brand equity, are not supported. The study also finds no support for the indirect effects of environmental friendliness on green brand equity through eco-label credibility and perceived greenwashing. Therefore, Pakistani FMCG firms should focus on a consistent evidence-based green branding rather than only labels. Environmentally oriented consumers seem to be more vigilant and at the same time more skeptical; hence, firms should enhance the credibility of green claims through transparent, verifiable communication to avoid skepticism without assuming that consumers will automatically reward labels or punish perceived greenwashing. This paper adds to existing works on green branding by showing that in Pakistan’s FMCG sector, green brand equity is mainly driven by green branding itself and not so much by eco-label credibility or consumers’ perception of greenwashing. The findings exhibit the “aware-but-constrained” consumer pattern typical for emerging markets and provide context-specific evidence on why certain green cues do not convert into brand equity. https://doi.org/10.5281/zenodo.19605191
Sustainable Hospitality Architecture: A Socio-Economic and Environmental Assessment of Green Building Practices with Managerial Insights
The growing demand for environmentally responsible infrastructure has positioned sustainable hospitality architecture as a critical area of research, particularly in emerging economies. This study examines the socio-economic and environmental implications of green building practices in the hospitality sector, while also providing practical managerial insights for effective implementation. The research aims to evaluate how sustainable architectural design influences operational efficiency, cost management, environmental performance, and customer satisfaction in hospitality facilities. A quantitative research approach was adopted using a structured questionnaire distributed to hotel managers, architects, and facility supervisors in major urban areas. A sample of 120 respondents was selected through convenience sampling to ensure ease of data collection. Key variables included green building practices, perceived cost efficiency, environmental performance, and service quality outcomes. Data were analyzed SmartPLS software. The findings indicate that green building practices have a significant positive impact on environmental performance and moderate improvements in operational cost efficiency and customer satisfaction. Additionally, managerial awareness and strategic planning were found to play a crucial role in the successful adoption of sustainable practices. The study concludes that integrating sustainability into hospitality architecture not only enhances environmental outcomes but also contributes to long-term economic benefits. It is recommended that hospitality managers adopt cost-effective green design strategies, invest in staff training, and align sustainability goals with operational planning to maximize overall performance. This research provides a practical and easily replicable framework for future studies in similar contexts.
Does FinTech Accelerate ESG Performance? Evidence from Digital Banks
The rapid growth of financial technology (FinTech) has transformed banking operations, particularly through digital banks that leverage data analytics, automation, and platform-based services. While FinTech is often associated with efficiency and innovation, its role in advancing environmental, social, and governance (ESG) performance remains underexplored. This study investigates whether FinTech adoption accelerates ESG performance in digital banks. It aims to assess the relationship between technological innovation and sustainability outcomes, testing the hypothesis that higher levels of digitalization are positively associated with improved ESG metrics. The study likely employs a quantitative panel-data approach using a sample of digital banks across multiple jurisdictions. FinTech intensity is measured through digital infrastructure investment, platform integration, and AI utilization, while ESG performance is evaluated using standardized ESG scores. Regression analysis, controlling for bank size, profitability, capital adequacy, and macroeconomic factors, is used to identify causal relationships. Robustness checks, including fixed-effects models and endogeneity controls, strengthen empirical validity. The findings suggest that greater FinTech integration is positively associated with enhanced ESG performance, particularly in environmental efficiency and governance transparency. Digital banks demonstrate improved risk monitoring, reduced operational carbon footprints, and stronger compliance mechanisms through automated reporting systems. However, social impact outcomes vary depending on regulatory frameworks and financial inclusion strategies. FinTech appears to function as a catalyst for ESG advancement in digital banking by improving transparency, efficiency, and accountability. Strategic alignment between technological innovation and sustainability objectives is critical to maximizing long-term value creation and responsible financial development.
Modeling International Tourism Demand: Evidence from European Arrivals to Pakistan Using Panel Data Techniques
This study investigates the determinants of international tourism demand in Pakistan using annual panel data from ten European source countries — the United Kingdom, Belgium, Germany, Spain, the Netherlands, France, Sweden, Switzerland, Norway, and Turkey — spanning the period 1990 to 2019. The Autoregressive Distributed Lag (ARDL) bounds testing approach to cointegration is applied to each country individually to identify both long-run and short-run relationships between tourist arrivals to Pakistan and four key explanatory variables: real gross domestic product (RGDP), relative price of tourism (RPT), unemployment rate (UNR), and population growth rate (PGR). The Augmented Dickey-Fuller (ADF) unit root test confirms that the series are integrated at mixed orders — I(0) and I(1) — which justifies the use of the ARDL framework. The bound test results reveal statistically significant long-run cointegrating relationships for the United Kingdom, Belgium, Germany, Spain, the Netherlands, and Turkey, while France, Sweden, Switzerland, and Norway exhibit no such long-run associations. The long-run coefficients indicate that real income is the dominant and most consistent driver of tourist arrivals, with elasticities ranging from 5.70% for Spain to 13.21% for the United Kingdom. Relative tourism prices exert a negative influence on demand, reflecting the price sensitivity of European visitors, while population growth in the source country and unemployment rates produce mixed and country-specific effects. Error Correction Model (ECM) estimates confirm relatively rapid adjustment to equilibrium, with correction speeds ranging from 52.2% per annum for the UK to 214% for Germany. Structural stability of all estimated models is confirmed by CUSUM and CUSUMSQ tests. The findings carry important implications for Pakistan's tourism policy, suggesting that marketing efforts in high-income European markets, competitive pricing strategies, and improvements in destination infrastructure are essential for sustainable growth in inbound tourism.
ENTREPRENEURSHIP IN THE AGE OF GENERATIVE AI: ETHICAL AND STRATEGIC IMPLICATIONS
Abstract The accelerated development of generative artificial intelligence (GenAI) is transforming the entrepreneurial landscape by providing an opportunity to be innovative, automate, and make decisions based on data. This paper explores the ethical and strategic issues of GenAI in entrepreneurship by employing the systematic literature review (SLR) method Based on recent academic literature (2023-2025 PRISMA-guided, n=180 empirical studies). the research determines the way GenAI can be used to increase opportunity recognition, speed up business model innovation, and increase efficiency in operations. Nevertheless, it also demonstrates some severe ethical issues, such as the problem of data privacy, algorithmic bias, the ambiguity of intellectual property, and the threats of misinformation. The results indicate that GenAI has meaningful competitive benefits, but the sustainable implementation of the technology will demand strong ethical governance systems. The research adds to the literature as it suggests a new techno-ethical entrepreneurial concept that incorporates innovation and responsibility. Keywords: Generative AI, Entrepreneurship, Ethical AI, Strategy, Innovation, Digital Transformation. https://doi.org/10.5281/zenodo.19492392
The Effect of Regulatory Frameworks on the Growth of Cryptocurrency Markets
The rate of the emergence of cryptocurrency economies as a small-scale technological experiment to a multi-trillion-dollar type of assets has been matched by extensive variations in regulatory approaches by jurisdictions. This article assesses the impact of regulatory frameworks on the development of cryptocurrency markets, which summarizes the recent empirical research on regulatory clarity, regulatory enforcement, institutional acceptance, and cross-jurisdictional comparisons. The discussion shows that regulatory regimes affect the development of the market immensely and unequally in the diverse aspects of market capitalization, trading volume, initial coin offering activity and institutional participation. The experience of the European Union with its Markets in Crypto-Assets (MiCA) regulation shows that effective regulatory frameworks are able to minimize uncertainty and result in institutional capital inflow and fragmented or antagonistic regulatory frameworks are able to push trading to offshore markets. United States studies have indicated that, where enforcement strategies are heavy and there has not been explicit rulemaking then the regulatory arbitrage strategies exist and there is no reduction of the underlying demand. The article concludes that the conditions of a stable cryptocurrency market development are regulatory clarity, global coordination, balanced frameworks that offer the protection of consumers and financial stability without suffocating innovation. Keywords: Institutional adoption, cryptocurrency markets, regulatory frameworks, financial regulation, market growth, regulatory arbitrage.
DEPARTMENTAL HUMAN CAPITAL CAPACITY IN YOUTH DEVELOPMENT; A TRAINING NEEDS ASSESSMENT OF DIRECTORATE OF YOUTH AFFAIRS, GOVERNMENT OF BALOCHISTAN
Training Needs Assessment (TNA) is a critical tool for enhancing institutional capacity and staff performance in public sector organizations. In Balochistan, the Directorate of Youth Affairs (DoYA) faces significant challenges in implementing youth development policies due to gaps in technical, managerial, and attitudinal competencies among its staff. This study provides evidence-based insights into the specific training needs of youth-focused institutions in Balochistan, guiding targeted capacity-building interventions. This study aims to identify these capacity gaps and prioritize training interventions to strengthen the Directorate’s ability to deliver effective youth programs. A mixed-method approach was employed, combining a structured questionnaire with 27 respondents and 10 key informant interviews (KIIs), complemented by secondary data from departmental reports and policy documents. The assessment focused on knowledge, skills, and attitudes across multiple functional areas. Findings indicate that the highest training needs were in Communication, Public Speaking & Presentation Skills (73.1%), Self-Accountability & Integrity (65.4%), and Attitude to Adopt New Methods, Tools & Technologies (61.6%), while Proactive Attitude for Learning & Self-Development ranked lowest at 34.6%. Preferred training methods included in-house workshops (41%), exposure visits (29%), online training (19%), and mentoring/coaching (11%). The study recommends a phased capacity-building approach, integrating technical skills, leadership development, and digital literacy, supported by multi-year training strategies, mentorship programs, and succession planning to ensure sustainability. Systematic TNA and structured professional development are essential to enhance institutional performance, policy implementation, and long-term youth development outcomes in Balochistan. Keywords: Training Need Assessment, Youth, Directorate Of Youth Affairs, Balochistan
Corporate Social Responsibility and Firm Financial Performance: The Mediating Role of Internal Control Effectiveness under COSO and SOX Frameworks — Evidence from Pakistan
This study explores the association between Corporate Social Responsibility (CSR) and firm financial performance (FFP) by examining the mediating role of internal control efficacy within the COSO and Sarbanes–Oxley (SOX) structures. Representing upon Stakeholder Theory, Legitimacy Theory, Agency Theory, and the Resource-Based View, the study hypothesized CSR as a multidimensional paradigm encompassing economic, legal, ethical, philanthropic, environmental, stakeholder, and governance responsibilities. A mixed-method methodology is engaged using primary assessment data to quantify CSR observes and internal control efficiency, supplemented by five-year averaged secondary financial data (ROA, ROE, and Tobin’s Q) from firms listed on the Pakistan Stock Exchange. Using multivariate regression and bootstrapped mediation analysis, the study tests whether internal control serves as a governance technique that transforms CSR creativities into outstanding financial results. The conclusions are projected to contribute to the developing literature on sustainable finance and corporate governance by clarifying the internal managerial mechanisms through which CSR enriches firm value in developing markets. The study offers theoretical, managerial, and regulatory suggestions for solidification governance driven CSR in developing economies.
Riding the Trade Waves: Gender-Differentiated Employment Dynamics in Asia
International trade plays a critical role in shaping labour market dynamics across economies around the world. However, instability or fluctuations in trade flows, referred as the trade volatility, can influence employment patterns across genders. This study examines how trade fluctuations effect gender-differentiated employment among Asian economies. Using data from the World Bank database for the period from 2011 to 2023, covering 11 Asian countries, this study implies panel-data estimation techniques, including fixed and random effects models to control for unobserved heterogeneity. Two separate models are estimated in the empirical analysis for male and female employment shares. The findings reveal that trade volatility has a statistically significant impact on female employment as compared to male employment across Asian region. The empirical findings show that females are more vulnerable to external trade shocks in Asian labour markets. Overall, the study underscores the importance of implementing gender-targeted policies to mitigate the negative impacts of uncertainty in trade flows and for the promotion of more inclusive employment outcomes. Keywords: Trade volatility, Asian economies, panel data, gender-disaggregated employment
The Impact of Digital Relationship Marketing Capabilities towards One-to-One Customer Relationship Quality in Online Platform: The Mediating Role of Customer Perceived Relevance
This empirical study investigates the structural mechanisms governing how digital relationship marketing capabilities influence individualized customer relationship quality within the modern e-commerce ecosystem. Grounded in the Stimulus-Organism-Response (S-O-R) paradigm, the research challenges the prevailing assumption that advanced technological interventions automatically generate relational bonds. The researchers deployed a quantitative, cross-sectional methodology, utilizing purposive sampling to collect primary data from 250 university students in Selangor, Malaysia, who actively engage with platforms such as Shopee, Lazada, and TikTok Shop. The researchers analyzed the dataset utilizing IBM SPSS Statistics and the Hayes PROCESS macro to evaluate both direct and mediated pathways. The mathematical results reveal a compelling state of full mediation. While digital capabilities strongly predict customer perceived relevance, the direct impact of technological stimuli on relationship quality collapses to absolute statistical insignificance upon introducing the cognitive mediator. The study definitively proves that algorithms, data-driven insights, and omnichannel infrastructures completely fail to foster trust, commitment, or satisfaction unless the consumer explicitly interprets those interventions as contextually relevant. These findings compel e-commerce executives to abandon exploitative, volume-driven data extraction and adopt sustainable, value-centric personalization strategies that respect the human cognitive load. Keywords: Digital Relationship Marketing, Customer Perceived Relevance, S-O-R Paradigm, Customer Relationship Quality, E-commerce Algorithms, Mediation Analysis.
Audit Quality as a Moderating Mechanism between Earnings Management and Firm Valuation
This study examines the effect of earnings management on firm valuation and the moderating role of audit quality using panel data from publicly listed non-financial firms over 2019-2024. The empirical results reveal that earnings management has a significant negative impact on firm valuation, with regression estimates showing a coefficient of β = -0.42 (p < 0.01) in the baseline model and β = -0.30 (p < 0.05) after including interaction effects. This indicates that increased managerial manipulation leads to a measurable decline in market value, confirming that investors penalize firms with lower earnings quality. Audit quality demonstrates a strong positive association with firm valuation, with coefficients of β = 0.35 (p < 0.01) and β = 0.31 (p < 0.01) across models. This suggests that firms audited by high quality auditors benefit from enhanced credibility and higher market valuation. Most importantly, the moderating effect of audit quality is confirmed by the positive and significant interaction term (β = 0.28, p < 0.05), indicating that audit quality weakens the negative impact of earnings management on firm valuation. The overall model exhibits solid explanatory power, with an adjusted R² of 0.39 and F statistic of 26.32, highlighting the robustness of the findings. Descriptive statistics show that the mean firm valuation (Tobin’s Q) is 1.42, while average earnings management is relatively low (mean = 0.021) and approximately 65% of firms are audited by high quality auditors. Control variables behave consistently with theory: firm size (β = 0.09) and profitability (β = 0.15, p < 0.05) positively affect valuation, whereas leverage has a negative effect (β = -0.12, p < 0.05). Growth opportunities remain statistically insignificant (β = 0.06, p > 0.10). Overall, the results confirm that earnings management significantly reduces firm value, but high audit quality mitigates this adverse effect, reinforcing its role as effective governance and signaling mechanism in enhancing market confidence.
Fostering Sustainable Workplace Wellbeing through Responsible Leadership via lens of Signalling Theory: Mediating Effect of Employee Oriented HRM in Banking Sector of Pakistan
The well-being of employees should not be considered solely an HR issue but rather an important ethical and strategic priority for businesses in order to achieve long-lasting organizational resilience and legitimacy. Over the last decade, there has been a movement away from viewing employee well-being as an independent responsibility of the employee to being an organizational responsibility that is tied to corporate ethics, stakeholder expectations and the creation of sustainable value (Bocean et al., 2022). The UN’s Sustainable Development Goals (in particular, Goal 3: Good Health and Well-Being and Goal 8: Decent Work and Economic Growth) indicate that organizational practices should promote employee well-being and dignity in the workplace as part of the higher goal of achieving global sustainability.
Comparative Effects Of Visual And Pressure Biofeedback On Pain, Range Of Motion And Disability In Symptomatic Forward Head Posture
To understand the forward head posture, this study aims to study the impact of visual and pressure biofeedback on pain, range of motion, and disability. The main objective of our study is to understand the difference between these two interventions on the patients presenting with forward head posture. This randomized control trial study was conducted in Bahawal Victoria Hospital, Bahawalpur. A total of 32 patients were included in this study of which 16 was for the visual and 16 were for the pressure biofeedback. A purposive sampling technique was used and the 32 patients were equally distributed in groups A and B. The data was compared between two groups using the SPSS software and this revealed that significant improvements were recorded in the neck flexion, left-right rotation and flexion, NRPS, and NDI score. However, when comparative post-intervention analysis was done within the groups, it revealed a significant difference in neck flexion, right side rotation, ROM, and NDI score. However, no significant difference was found in NRPS score and neck extension. The study findings reveal that although both visual and pressure biofeedback therapies were successful in enhancing range of motion and lowering disability however, based on their mean value Pressure biofeedback is slightly more effective as compared to visual feedback in terms of outcome measure indicated. Advanced interventions are required that take into account individual characteristics and investigate the long-term effects on a varied population. To further our understanding of effective therapies for people with forward head posture, future research should address the limitations that have been discovered. A large sample size and prolonged intervention of clinical approaches could achieve more reliable results as compared to our 32-sample size and 4-weeks intervention duration. A Study on patients with more similar backgrounds in the context of demographics and biomechanical features would enhance the study's reliability.
Empowering the Workforce: Mediating Role of AI Acceptance in Transformational Leadership and Employee Outcomes
The rapid integration of artificial intelligence (AI) into organizational processes has transformed contemporary workplaces, necessitating leadership approaches that facilitate employee acceptance of AI-driven systems. The purpose of this research is to examines influence of transformational leadership on job satisfaction, employee engagement, and quality of work life through AI acceptance as a mediating variable. Further, this study evaluate moderating role of training and development in relationship of transformational leadership and AI acceptance. The population of the study is employees from manufacturing and service sector. Convenience sampling technique is used to draw sample from the population. The sample size of the study is 511 employees. Results showed that transformational leadership positively influence the AI acceptance. Results also revealed that AI acceptance positively influence the job satisfaction, employee engagement, and quality of work life. It is further revealed that AI acceptance mediate the relationship between transformational leadership and job satisfaction, employee engagement and quality of work life. At last, result showed that training and development moderate the relationship between transformational leadership and AI acceptance. This means training and development strengthen the relation between transformational leadership and AI acceptance. Training and development help the organizations to accept AI technology with transformational leadership. This research provides valuable guidance for organizational leaders, HR professionals, and policymakers in large-scale Pakistani enterprises across manufacturing, technology, and service sectors. By highlighting the role of transformational leadership in fostering AI acceptance, the study emphasizes the importance of leadership development programs designed to enhance employees’ readiness for technological change.
The Impact of Green Transformational Leadership and Green Human Resource Management on Sustainable Competitive Advantage: Mediating Role of Green Innovation Performance
With the increasing environmental challenges and the competition becoming tougher, companies are increasingly considering sustainability as a part of their overall strategies. This study looked at how green transformational leadership and Green Human resource management affect sustainable competitive advantage. It further verified the role of green innovation performance as an intermediate. The study relied on the figures of 220 employees in firms that emphasize on sustainability. They checked their ideas with the help of a method known as structural equation modeling. The findings indicated that green transformational leadership Green human resource management is useful in turn enhances sustainable competitive advantage. Green innovation also relates green human resource management to sustainable competitive advantage to some degree. The study found that GIP partially connects GTL, GHRM, and SCA, showing that innovation is key in turning green efforts into competitive benefits. This research adds to what is already known by bringing together ideas about leadership, human resources, and innovation within a sustainability context. The findings offer useful advice for business leaders and policy makers. They suggest that companies should encourage green leadership and use HRM that support the environment to drive innovation and gain a sustainable edge. The study also talks about future research areas and the limitations of the current work.
Effect of Social Media Marketing on Customer Product Loyalty
This study investigates the mediated pathways through which social media marketing fosters brand loyalty among Pakistani consumers in the burgeoning e-commerce landscape, focusing on electronic word-of-mouth (e-WOM), perceived usefulness, trust, and social satisfaction as key mediators. Drawing on the Technology Acceptance Model and uses-and-gratifications theory, a conceptual framework posits a sequential chain: social media marketing → e-WOM → perceived usefulness/trust → social satisfaction → loyalty. The result is derived from the 120 respondents from the city of Karachi, using Smart PLS-SEM to verify the positive relationships with e-word of mouth being the strongest prediction with path coefficient. and validating hypotheses H5 (reviews/influencer endorsements boost loyalty, p<0.01) while rejecting H6 due to context-specific mediation needs in Pakistan's collectivist culture. Findings align with Kumar Singh et al. (2021), Bilgies et al. (2023), and Daud et al. (2018), emphasizing authentic peer endorsements over ads for repeat purchases and recommendations. Practical implications guide brands to allocate 60% budgets to micro-influencers and user-generated content for higher retention (25-40%). Recommendations include multilingual surveys for demographic generalizability, A/B testing of e-WOM authenticity, crisis-response analyses, and AI vs. human endorsement comparisons. This research equips Pakistani SMEs with evidence-based strategies to convert digital buzz into sustainable loyalty, bridging global trends with local realities. Keywords: Social Media Marketing; Brand Loyalty; Electronic Word-of-Mouth (e-WOM); Perceived Usefulness; Trust; Social Satisfaction; Technology Acceptance Model (TAM); Uses and Gratifications Theory; E-commerce; Consumer Behavior; Micro-Influencers; User-Generated Content; PLS-SEM; Pakistani Consumers; Digital Marketing Strategy
The Role of Microfinance in Improving Financial Stability of Rural Households in Hyderabad Region, Sindh, Pakistan
This research investigates since microfinance is helping rural households in Hyderabad, Sindh, gain financial stability. Microcredit, savings behavior, financial literacy, and women's empowerment are the focus areas. The study used a quantitative methodology. Primary data was obtained from 420 respondents using a survey with a five point Likert scale. The data was analyzed using PLS SEM. Findings of the study show that microcredit has a positive impact on financial stability (β = 0.29), that savings behavior has the highest positive impact (β = 0.34), financial literacy contributes positively (β = 0.21), and that women empowerment has a positive impact (β = 0.25). The model accounts for 68 percent of the financial stability variance (R² = 0.68). This shows that the model has good explanatory power. This study demonstrates that credit alone is insufficient. For long term stability, financial literacy, saving behavior, and women participation are necessary. This study only provides a one region and cross sectional data. For future studies, it is recommended that a cross region and longitudinal data collection approach be undertaken. Exploring digital finance and Islamic microfinance methods is also recommended. Keywords: Microfinance, Financial Stability, Microcredit, Savings Behavior, Financial Literacy, Women Empowerment, Rural Households, PLS SEM.
Reimagining Archaeological Tourism in Pakistan: An Inclusive Approach to Sustainable Heritage Development
Tourism is considered to be one of the fastest-growing sectors in the world, and tourism has played an important role in economic growth, employment, and cultural interactions. In the tourism industry, archaeological tourism has also been considered an important part of tourism, particularly because of its potential to create a link with cultural and historical legacies. However, despite being a country with a strong archaeological history, Pakistan has not been able to utilize its tourism potential to a great extent. This paper aims to explore the limitations of the current archaeological tourism system in Pakistan and propose an inclusive approach to archaeological tourism for sustainable growth in the country. This paper has been conducted with a qualitative approach, and secondary data has been used as a data collection tool. Thematic analysis has also been conducted to explore some of the key issues affecting archaeological tourism in Pakistan. The findings suggest that tourism in Pakistan is currently facing limitations such as a lack of diversification, a lack of representation of historical periods such as the Hindu Shahi Empire, and a lack of infrastructure. The paper has also shown that an inclusive approach to archaeological tourism, considering various historical legacies, has a strong potential to improve tourism in Pakistan.
Innovative Aquaculture for Entrepreneurship Growth: Insights from RAS Adoption in Pakistan
Recirculating Aquaculture Systems (RAS) have emerged as a transformative technology in aquaculture, offering sustainable production through water recycling, biofiltration, and controlled environmental management. This study investigates the impact of RAS adoption on entrepreneurship development in Pakistan, focusing on provincial case studies, SME growth, value chain enhancement, employment generation, and innovation promotion. Using a qualitative exploratory design with secondary data sources, including peer-reviewed articles and government reports, thematic analysis was conducted to assess entrepreneurial outcomes. The findings indicate that RAS facilitates technology-driven startups, urban and peri-urban aquaculture enterprises, and high-value niche markets, while strengthening linkages across the aquaculture value chain. However, adoption is constrained by technical and energy-related challenges. The study applies Rogers'Diffusion of Innovations Theory to explain the adoption patterns of RAS among early and late entrepreneurial adopters, and Barney's Resource-Based View (RBV) to highlight how technological and knowledge resources provide a competitive advantage to entrepreneurs. The integration of these theories demonstrates that strategic resource deployment and innovation diffusion are critical for scaling RAS-based entrepreneurship in Pakistan. Policy support, training, and renewable energy integration are recommended to overcome adoption barriers, ensuring sustainable economic growth, enhanced food security, and the development of a technology-driven aquaculture entrepreneurial ecosystem.
POST PURCHASE SERVICE QUALITY AND CUSTOMER BEHAVIOR IN CROSS- BORDER E-COMMERCE: A PAKISTANI CONSUMER PERSPECTIVE
The rapid growth of cross-border e-commerce (CBEC) has transformed global retail by enabling consumers to access international markets through digital platforms. While prior research has largely focused on pre-purchase and logistical aspects, the post-purchase phase remains underexplored despite its critical role in shaping customer satisfaction and behavior. This study investigates the impact of Post-Purchase Service Quality (PPSQ) on customer behavior from a Pakistani consumer perspective. Specifically, it examines five dimensions of PPSQ—Order Tracking (OT), Easy Exchange and Return (EER), Responsive Customer Support (RCS), Product Usage Instructions (PUI), and Loyalty and Reward Programs (LRP)—and their influence on Customer Satisfaction (CS), which subsequently affects Repurchase Intention (RPI) and Electronic Word-of-Mouth (eWOM). A quantitative, cross-sectional research design was employed using a structured online questionnaire distributed among Pakistani consumers with CBEC experience. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The findings reveal that Order Tracking, Easy Exchange and Return, and Responsive Customer Support significantly and positively influence customer satisfaction, whereas Product Usage Instructions and Loyalty and Reward Programs do not show a significant impact. Furthermore, customer satisfaction is found to be a strong predictor of both repurchase intention and electronic word-of-mouth. The study highlights that operational reliability and effective post-purchase support are the key drivers of customer satisfaction in CBEC, particularly in emerging markets like Pakistan where perceived risk is high. These findings provide valuable theoretical contributions by extending service quality literature to the post-purchase phase and offer practical insights for e-commerce platforms to prioritize resources effectively. Overall, the research underscores the importance of enhancing post-purchase experiences to foster customer loyalty and sustainable growth in cross-border e-commerce . Keywords: Cross-Border E-Commerce, Post-Purchase Service Quality, Customer Satisfaction, Repurchase Intention, Electronic Word-of-Mouth, Pakistan https://doi.org/10.5281/zenodo.19603686
A Critical Examination of Unemployment and Its Socioeconomic Effects in Emerging Markets
Unemployment is a long-standing issue in developing economies, which has a considerable impact on economic conditions and social welfare. The socioeconomic impacts of unemployment are critically evaluated in this paper by studying the effects of unemployment on income distribution, poverty levels and social inequality. The paper examines structural and cyclical forms of unemployment including the rise in population, the skills gap, and the lack of industrial growth. Based on secondary data and comparative analysis of selected emerging economies, the study identifies the impacts of long-term unemployment in lowering income levels in households, consumer spending, and reliance on informal sectors. Moreover, the paper examines the social implications of joblessness, including the increased crime rate, mental health problems, and decreased access to education and healthcare. The results indicate that unemployment not only undermines economic development but also increases social inequalities, which undermines sustainable development. The paper highlights the importance of specific policy responses, such as skill training, labor market policies, and investment in job generating sectors, to reduce the negative impacts of unemployment and ensure inclusive economic growth in emerging markets.
Human Capital and Organizational Performance Nexus: A Case Study of Private Universities in Peshawar
This study examines correlation between human capital and university performance in private sector universities in Peshawar, Pakistan via faculty knowledge, skills, and competencies on research output, academic performance, institutional reputation and student employability. Intellectual Capital literature suggests that intangibles, especially human capital, plays a pivotal role in universities performance however, most of the studies have considered a limited perspective of human capital or its outcomes. Similarly, there is dearth of such research in the regional context and in private sector higher educational institutions. Using quantitative methodology, data was collected from 286 faculty members across six universities. The statistical analysis indicates a substantial positive correlation between human capital and university performance (r = 0.658, p < 0.01), with regression analysis demonstrating that human capital accounts for 43.3% of performance variance. Hypotheses testing suggests that human capital has a positive effect on all four performance dimensions. The findings highlight the critical importance of human capital in enhancing organizational performance in universities. This study contributes to the literature by offering a holistic framework for evaluating university performance through developing human capital and addresses a contextual and sector gap in the evolving body of intellectual capital research.
The Moderating Role of Artificial Intelligence Literacy in Sustainable Tourism Development
Sustainable tourism development has become a global priority, particularly in environmentally vulnerable regions such as Pakistan, where ecological degradation and resource mismanagement threaten long-term sectoral growth. Despite increasing scholarly attention, the underlying mechanisms linking environmental-specific leadership, employee motivation, and technological capability remain fragmented. Addressing this gap, the present study employs a PRISMA 2020-based systematic literature review to synthesize contemporary research published between 2020 and 2026. A total of 52 peer-reviewed studies were selected from Scopus, Web of Science, ScienceDirect, and Google Scholar. Drawing on Self-Determination Theory (SDT), Grit Theory, and emerging perspectives on Artificial Intelligence (AI) literacy, the study develops an integrated conceptual framework explaining sustainable tourism development. The findings reveal that environmental-specific leadership—encompassing Environmental-Specific Servant Leadership, Green Transformational Leadership, and Green Inclusive Leadership—significantly fosters a green psychological climate, which enhances employees’ green harmonious passion and subsequently shapes positive green attitudes. These attitudes are identified as critical drivers of sustainable tourism outcomes. Importantly, the study highlights AI literacy as a key moderating factor that strengthens the relationship between employee green attitude and sustainable tourism development by enabling effective implementation of sustainability practices through digital tools. The review contributes to the literature by integrating leadership, motivational, and technological perspectives into a unified framework, offering a micro-foundational understanding of sustainability in tourism. The study provides practical implications for policymakers and practitioners by emphasizing leadership development, digital capability enhancement, and sustainability-oriented human resource practices as essential drivers of long-term sustainable tourism growth.
Board Diversity and Firm Value: Beyond Gender to Cognitive and Experiential Heterogeneity in Corporate Boards
Purpose – This article disputes the existing emphasis on demographic diversity (and especially gender) in corporate board studies by suggesting that cognitive and experiential heterogeneity- differences in the manner in which directors think, what they know, and in what ways they have encountered the business world- are more likely to affect firm value. Although gender and ethnic diversity are still a factor in the equity and legitimacy, the empirical findings to associate the demographic diversity with the financial performance is at best inconsistent. This paper summarizes current meta-analytic data indicating that cognitive diversity (expertise, experience, industry background) is a stronger predictor of innovation and governance performance as compared to more superficial demographic factors. Methodology and Approach- This theoretical paper is a synthesis of research findings of various meta-analyses (including more than 500 studies) and recent empirical studies in board diversity, cognitive heterogeneity and firm performance. It introduces a model that differentiates between the dimensions of demographic, cognitive, and experiential diversity. Findings - The synthesis has found three important insights: (1) demographic diversity is weak and inconsistent in direct impact on firm financial performance; (2) cognitive diversity, as measured through director dissent, expertise variety, and industry experience heterogeneity, is consistently predictive of board effectiveness and innovation; (3) demographic diversity could facilitate cognitive diversity, but only when board processes (psychological safety, constructive debate) are appropriately nurtured. Originality and Value – This article takes the discussion of diversity beyond check-the-box demographic measures of diversity to a more complex appreciation of what constitutes boards being intellectually resource-rich. It gives practical guidelines of nominating committees to construct cognitively heterogeneous boards.