http://www.bereview.pk/index.php/BER/issue/feedBusiness & Economic Review2023-03-21T07:14:04+00:00Prof. Dr. Atta ur Rahmanber@imsciences.edu.pkOpen Journal Systems<p>The Business & Economic Review (B&ER), ISSN 2519-1233 (Online), ISSN 2074-1693 (Print), is a semi-annual publication of the Institute of Management Sciences Peshawar, Pakistan and is recognized by the Higher Education Commission (HEC) of Pakistan.</p> <p>The B&ER is devoted to the publication of papers that advance knowledge of the practical and theoretical aspects of management, economics, and social sciences. B&ER welcomes empirical to conceptual and review papers with strong methodology from the mentioned disciplines.</p>http://www.bereview.pk/index.php/BER/article/view/446 Environmental, Social and Governance Practices and Capital Market Response: Evidence from Emerging Countries 2023-03-21T07:14:03+00:00Muhammad Naeem mnaeemshah90@yahoo.com Hamid Ullah Shahid Jan Kakakhel This study aims to investigate the impact of ESG practices on the capital market response of emerging countries in terms of market-adjusted returns (MAR), market value added (MVA), and Tobin's Q (TQ). The study used the data of 1042 firms from 26 emerging countries from 2010 to 2019. The data was collected from Refinitiv ESG (formerly Thomson Reuter Asset4) and DataStream; and used the panel data regression technique such as fixed effects (FE), random effects (RE), and Feasible Generalized Least Square (FGLS) models. Results showed that pillar-wise, Environmental, Social, and Governance scores and aggregate ESG scores have a significant and positive impact on capital market response. To the best of author's knowledge, limited studies demonstrate the association between ESG practices and capital market response in emerging countries. Therefore, the current study has useful implications for investors, regulators, socially responsible analysts, and policymakers of emerging countries, as well as it is also essential for government agencies and other related agencies in emerging countries. 2022-10-31T00:00:00+00:00##submission.copyrightStatement##http://www.bereview.pk/index.php/BER/article/view/447 Kirkpatrick Model and Training Effectiveness: A Meta-Analysis 1982 To 2021 2023-03-21T07:14:03+00:00Fahad Nawaz fahad.nawaz1@gmail.com Wisal Ahmed Muhammad Khushnood By examining the overall success of managerial training concerning Kirkpatrick's training effectiveness paradigm, this work seeks to contribute to the substantial contributions of prior 40-year research in the area. Additionally, this study seeks to assess the overall findings regarding its renowned levels, reaction, learning, behavior, and results of Kirkpatrick's training model and associations among these levels. Through a meta-analytic process, this study statistically extends and unifies the management training literature. The Kirkpatrick model was the subject of a meta-analysis that covered 41 papers (n=41) between 1982 and 2021. Although accommodating literary study regarding Kirkpatrick's four levels of the training assessing model recommended positive association among its distinct levels, the results do not indicate a significant development in the usefulness of managerial training from 1982 through 2021. The implications have a direct bearing on the choice of evaluation techniques for upcoming research on the effectiveness of management training programs. The academic world and practitioners both value this implication. The potential exclusion of prior research and the variety of assessment techniques employed in earlier studies—beyond the simple categories of objective and subjective assessment—are among the study's limitations. The fact that this study spans a significant amount of time is its key contribution. The approach thus provides a wider perspective on managerial training throughout time.2022-10-31T00:00:00+00:00##submission.copyrightStatement##http://www.bereview.pk/index.php/BER/article/view/448 Determinants of Financial Stress: Panel Data Analysis of Emerging Countries 2023-03-21T07:14:03+00:00Haleema Sadia haleema.sadia@iiu.edu.pk Arshad Ali Bhatti Jawad Ahmad Azeez This study explores the potential determinants of financial stress in the panel of emerging middle-income countries from 2000 to 2016. A variety of driving factors of financial stress classified into domestic, global, and institutional factors besides international linkages and regional dummies are taken. The study uses Principal Component Analysis to develop composite indices for the quality of institutions and financial stress. The authors apply various static and dynamic panel data techniques for robustness analysis. Findings underline the role of institutional quality in mitigating financial stress in these countries. Also, the authors conclude that deterioration in country characteristics and external factors stimulate financial stress in the selected countries. The study calls for strengthening the institutional setup that helps reduce political uncertainty, hence financial stress. It further suggests coordination in fiscal policy and mitigating recessionary trends to manage financial stress. It would have been insightful to evaluate the key drivers of financial stress in future through refined measures of political risk. 2022-10-31T00:00:00+00:00##submission.copyrightStatement##http://www.bereview.pk/index.php/BER/article/view/449 Women entrepreneurship stewardship via Shared workspaces: Challenges and Growth in the Textile sector 2023-03-21T07:14:03+00:00Misbah Faiz haleema.sadia@iiu.edu.pk Women entrepreneurs generally have to face plenty of challenges. This study provides deeper insights into the challenges that the women entrepreneurs in textile industry face in Pakistan and the kind of support that is required by the women entrepreneurs in order to grow their businesses through a shared workspace (SWW). In order to achieve the objectives of the study, qualitative research has been carried out and a total of 14 interviews have been conducted from women entrepreneurs operating in the textile industry. The study concludes that women entrepreneurs in the textile industry have to face challenges in various forms which include financial challenge, loans related challenges, registration challenges, external challenges, internal business challenges, social challenges and networking challenges with external challenges being the most dominant amongst these. These challenges act as a hurdle in the pathway of success of these entrepreneurs and hampers their growth in the competitive market. A shared workspace in this regard tends to be a suitable option for the women entrepreneurs which provides support to the women entrepreneurs in the form of financial support, non-financial support (trainings, business growth support, workshops, mentoring, technological support, networking, marketing, and advertisement support), and has all the basic suitable facilities including business center, prayer room, day care, and a safe and healthy environment. Moreover, flexible, or multiple payment options should be available for the women entrepreneurs from which they can opt for. Results indicate that non-financial support is the most integral form of support that needs to be offered by SWWs which reflects that SWWs should have a keen focus on it for enhancing women participation in SWWs.2022-10-31T00:00:00+00:00##submission.copyrightStatement##http://www.bereview.pk/index.php/BER/article/view/450 Which Generation is more Environmental Consciousness? A comparative study of Generation Z & Millennial to predict effect of Digital Ads on Green Buying Decisions 2023-03-21T07:14:04+00:00Khansa Zaman dr.khansa@szabist-isb.edu.pk This paper aims to investigate the impact of green YouTube Ads toward green brand attitude and purchase intention with moderating role of environmental consciousness. The data was collected from 349 social media users (Generation Z and Millennial) who frequently use YouTube for information or entertainment purpose. The data was collected in three-time lags by employing purposive sampling technique. Results of the study indicated that YouTube ads has a significant impact on developing green brand attitude which further form the purchase intention toward green products. Environmental consciousness is an important factor as it has a buffering effect on the relationship between green brand attitude and green purchase intention. The moderation and mediation model were assessed by using process model and it is found that purchase intention is developed in presence of green brand attitude and environmental consciousness. The results of t-test revealed significant difference between generation Z and Millennial, with former more inclined toward green buying. This study establishes its originality by employing Theory of Reasoned Action to investigate consumer’s attitude toward green YouTube ads by analyzing the effect of environmental consciousness. This study is significant to brand managers in terms of devising the brand communication policies and strategies through social media.2022-10-31T00:00:00+00:00##submission.copyrightStatement##