Ammad Zafar | University of Karachi (original) (raw)

Papers by Ammad Zafar

Research paper thumbnail of SMEs and its Role in Economic and Socio-Economic Development of Pakistan

International Journal of Academic Research in Accounting, Finance and Management Sciences

SME's contributes to over 55% of GDP and over 65% of total employment in high-income countries. S... more SME's contributes to over 55% of GDP and over 65% of total employment in high-income countries. SME 's and informal enterprises, account for over 60% of GDP and over 70% of total employment in low-income countries, while they contribute over 95% of total employment and about 70% of GDP in middle-income countries. Small and medium-sized enterprises (SMEs) are non-auxiliary, autonomous firms which employ less than 250 number of workers in Pakistan or having paid-up capital up to Rs.25 million and sales up to Rs.250 million per annum. Moreover, SME segment is the foundation of Pakistan's economy as far as its commitment towards GDP, work era and fare improvement. Economy related access is a key driver in building up the SME division which thusly prompts economic growth of the country. SMEs constitute about 90% of the considerable number of ventures in Pakistan; utilize 80% of the non-rural work constrain; and their contribution in the yearly GDP is up to 40%, roughly it has proportion of 30% in Pakistan's all exports. SMEs are spread in all areas of Pakistan with a noteworthy fixation in Punjab (65.4%). The contribution of Balochistan in the nation's SME part happens to be the littlest (2.3%) while those of Sindh and Khyber-Pakhtunkhwa are 18% and 14.3%, separately. Despite of significant contribution of SMEs to the economic growth of Pakistan, more than 90% young people in the biggest city i.e. Karachi, believe they do not have enough economic opportunities for their professional growth. The studies reveal that, SMEs not only impacts GDP. It also helps to enhance the livelihood of people of the country by creating more economic opportunities. The study focuses on structural analysis of SMEs and its role on economic and socioeconomic growth of Pakistan. It also discusses the socioeconomic challenges faced by Pakistan.

Research paper thumbnail of SMEs and its Role in Economic and Socio-Economic Development of Pakistan

International Journal of Academic Research in Accounting, Finance and Management Sciences, Dec 8, 2017

SME's contributes to over 55% of GDP and over 65% of total employment in high-income countries. S... more SME's contributes to over 55% of GDP and over 65% of total employment in high-income countries. SME 's and informal enterprises, account for over 60% of GDP and over 70% of total employment in low-income countries, while they contribute over 95% of total employment and about 70% of GDP in middle-income countries. Small and medium-sized enterprises (SMEs) are non-auxiliary, autonomous firms which employ less than 250 number of workers in Pakistan or having paid-up capital up to Rs.25 million and sales up to Rs.250 million per annum. Moreover, SME segment is the foundation of Pakistan's economy as far as its commitment towards GDP, work era and fare improvement. Economy related access is a key driver in building up the SME division which thusly prompts economic growth of the country. SMEs constitute about 90% of the considerable number of ventures in Pakistan; utilize 80% of the non-rural work constrain; and their contribution in the yearly GDP is up to 40%, roughly it has proportion of 30% in Pakistan's all exports. SMEs are spread in all areas of Pakistan with a noteworthy fixation in Punjab (65.4%). The contribution of Balochistan in the nation's SME part happens to be the littlest (2.3%) while those of Sindh and Khyber-Pakhtunkhwa are 18% and 14.3%, separately. Despite of significant contribution of SMEs to the economic growth of Pakistan, more than 90% young people in the biggest city i.e. Karachi, believe they do not have enough economic opportunities for their professional growth. The studies reveal that, SMEs not only impacts GDP. It also helps to enhance the livelihood of people of the country by creating more economic opportunities. The study focuses on structural analysis of SMEs and its role on economic and socioeconomic growth of Pakistan. It also discusses the socioeconomic challenges faced by Pakistan.

Research paper thumbnail of Analysis of Factors Affecting Quality of Schools/Colleges (A Case Study of Karachi based on Perception of Parents of School Going Children

The importance of education is a fact that cannot be denied by anyone no matter which religion, s... more The importance of education is a fact that cannot be denied by anyone no matter which religion, sect or race the person belongs to. All the parents want their children to get the best education and be successful. This paper highlights the factors that bring impact on the education quality provided in schools and colleges which can satisfy parents that their children are getting the best. This study aimed to analyzed different determinants like policy of admission, the quality of school and most importantly the curriculum of the schools and colleges. In this study, 1991 household were visited for interview of 11,127 respondents. 1184 respondent were fell into criteria for the response of question related to overall quality of schools and colleges. This study found that admission criteria, curriculum taught in schools and colleges and fee structure are main factors to assist overall quality of schools and colleges. More than 93% respondents are satisfied with overall quality of schools and colleges, when they are satisfied with admission criteria. Similarly, 91% with satisfaction of curriculum taught and more than 92% having satisfaction because of satisfaction on fee structure.

Research paper thumbnail of BRICS: Is the Group Really Creating Impact

International Journal of English Literature and Social Sciences (IJELS), 2017

In 2001, Jim O’Neill coined the acronym for Brazil, Russia, India and China as the largest emergi... more In 2001, Jim O’Neill coined the acronym for
Brazil, Russia, India and China as the largest emerging
markets economies. He expected them to grow faster than
the developed countries and to play an increasingly
important role in the world. In 2009, BRIC countries held
their first summit which in its 3rd summit turned into
BRICS with the addition of South Africa. The BRICS now
represent 3 billion people and a combined GDP of $16
trillion. The group is the third giant after the EU and the
US. Analysts predict that the BRICS will overtake US in
terms of GDP this year and the G7 by 2030. In the
summit in July 2014, BRICS leaders have approved
creating the BRICS New Development Bank which would
fund long-term investment in infrastructure and more
sustainable development. The economics projections
show that till 2040, the BRICS is expected to rule the
world market

Research paper thumbnail of The Effect of Financial Leverage and Market Size on Stock Returns on the Karachi Stock Exchange: Evidence from Selected Stocks in the Non-Financial Sector of Pakistan

THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT, 2017

This paper studies the effect of financial leverage and market size of selected stocks on stock r... more This paper studies the effect of financial leverage and market size of selected stocks on stock returns. Ordinary Least Square (OLS) regression models were used to test the relationship between the dependent and independent variables. The leverage of the selected sector was estimated from the Annual Financial reports covering a period of twelve years from 2014 to 2015 non-financial sectors listed in Karachi Stock Exchange. Furthermore, stock index prices of the selected stocks between 2004-2015 for non-financial sector are used to calculate stock return. Capital structure decisions are very important for any firm because they have a direct impact on firm value as well as shareholder’s wealth. The positives or negatives of these decisions determine the future value of any business. Some studies discussed multiple outcomes or relation between stock return and leverage. Some studies reveal positive relationship between them, some review show negative outcomes and some has blended results. The study concluded that there is statistically significant direct relationship between size which is proxy of market capitalization and stock return (100 index prices). However, there is feeble and inverse relationship between financial leverage and stock return, and this relationship is not significant, so there is no statistically significant relationship between financial leverage and shareholders return.

Research paper thumbnail of SMEs and its Role in Economic and Socio-Economic Development of Pakistan

International Journal of Academic Research in Accounting, Finance and Management Sciences

SME's contributes to over 55% of GDP and over 65% of total employment in high-income countries. S... more SME's contributes to over 55% of GDP and over 65% of total employment in high-income countries. SME 's and informal enterprises, account for over 60% of GDP and over 70% of total employment in low-income countries, while they contribute over 95% of total employment and about 70% of GDP in middle-income countries. Small and medium-sized enterprises (SMEs) are non-auxiliary, autonomous firms which employ less than 250 number of workers in Pakistan or having paid-up capital up to Rs.25 million and sales up to Rs.250 million per annum. Moreover, SME segment is the foundation of Pakistan's economy as far as its commitment towards GDP, work era and fare improvement. Economy related access is a key driver in building up the SME division which thusly prompts economic growth of the country. SMEs constitute about 90% of the considerable number of ventures in Pakistan; utilize 80% of the non-rural work constrain; and their contribution in the yearly GDP is up to 40%, roughly it has proportion of 30% in Pakistan's all exports. SMEs are spread in all areas of Pakistan with a noteworthy fixation in Punjab (65.4%). The contribution of Balochistan in the nation's SME part happens to be the littlest (2.3%) while those of Sindh and Khyber-Pakhtunkhwa are 18% and 14.3%, separately. Despite of significant contribution of SMEs to the economic growth of Pakistan, more than 90% young people in the biggest city i.e. Karachi, believe they do not have enough economic opportunities for their professional growth. The studies reveal that, SMEs not only impacts GDP. It also helps to enhance the livelihood of people of the country by creating more economic opportunities. The study focuses on structural analysis of SMEs and its role on economic and socioeconomic growth of Pakistan. It also discusses the socioeconomic challenges faced by Pakistan.

Research paper thumbnail of SMEs and its Role in Economic and Socio-Economic Development of Pakistan

International Journal of Academic Research in Accounting, Finance and Management Sciences, Dec 8, 2017

SME's contributes to over 55% of GDP and over 65% of total employment in high-income countries. S... more SME's contributes to over 55% of GDP and over 65% of total employment in high-income countries. SME 's and informal enterprises, account for over 60% of GDP and over 70% of total employment in low-income countries, while they contribute over 95% of total employment and about 70% of GDP in middle-income countries. Small and medium-sized enterprises (SMEs) are non-auxiliary, autonomous firms which employ less than 250 number of workers in Pakistan or having paid-up capital up to Rs.25 million and sales up to Rs.250 million per annum. Moreover, SME segment is the foundation of Pakistan's economy as far as its commitment towards GDP, work era and fare improvement. Economy related access is a key driver in building up the SME division which thusly prompts economic growth of the country. SMEs constitute about 90% of the considerable number of ventures in Pakistan; utilize 80% of the non-rural work constrain; and their contribution in the yearly GDP is up to 40%, roughly it has proportion of 30% in Pakistan's all exports. SMEs are spread in all areas of Pakistan with a noteworthy fixation in Punjab (65.4%). The contribution of Balochistan in the nation's SME part happens to be the littlest (2.3%) while those of Sindh and Khyber-Pakhtunkhwa are 18% and 14.3%, separately. Despite of significant contribution of SMEs to the economic growth of Pakistan, more than 90% young people in the biggest city i.e. Karachi, believe they do not have enough economic opportunities for their professional growth. The studies reveal that, SMEs not only impacts GDP. It also helps to enhance the livelihood of people of the country by creating more economic opportunities. The study focuses on structural analysis of SMEs and its role on economic and socioeconomic growth of Pakistan. It also discusses the socioeconomic challenges faced by Pakistan.

Research paper thumbnail of Analysis of Factors Affecting Quality of Schools/Colleges (A Case Study of Karachi based on Perception of Parents of School Going Children

The importance of education is a fact that cannot be denied by anyone no matter which religion, s... more The importance of education is a fact that cannot be denied by anyone no matter which religion, sect or race the person belongs to. All the parents want their children to get the best education and be successful. This paper highlights the factors that bring impact on the education quality provided in schools and colleges which can satisfy parents that their children are getting the best. This study aimed to analyzed different determinants like policy of admission, the quality of school and most importantly the curriculum of the schools and colleges. In this study, 1991 household were visited for interview of 11,127 respondents. 1184 respondent were fell into criteria for the response of question related to overall quality of schools and colleges. This study found that admission criteria, curriculum taught in schools and colleges and fee structure are main factors to assist overall quality of schools and colleges. More than 93% respondents are satisfied with overall quality of schools and colleges, when they are satisfied with admission criteria. Similarly, 91% with satisfaction of curriculum taught and more than 92% having satisfaction because of satisfaction on fee structure.

Research paper thumbnail of BRICS: Is the Group Really Creating Impact

International Journal of English Literature and Social Sciences (IJELS), 2017

In 2001, Jim O’Neill coined the acronym for Brazil, Russia, India and China as the largest emergi... more In 2001, Jim O’Neill coined the acronym for
Brazil, Russia, India and China as the largest emerging
markets economies. He expected them to grow faster than
the developed countries and to play an increasingly
important role in the world. In 2009, BRIC countries held
their first summit which in its 3rd summit turned into
BRICS with the addition of South Africa. The BRICS now
represent 3 billion people and a combined GDP of $16
trillion. The group is the third giant after the EU and the
US. Analysts predict that the BRICS will overtake US in
terms of GDP this year and the G7 by 2030. In the
summit in July 2014, BRICS leaders have approved
creating the BRICS New Development Bank which would
fund long-term investment in infrastructure and more
sustainable development. The economics projections
show that till 2040, the BRICS is expected to rule the
world market

Research paper thumbnail of The Effect of Financial Leverage and Market Size on Stock Returns on the Karachi Stock Exchange: Evidence from Selected Stocks in the Non-Financial Sector of Pakistan

THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT, 2017

This paper studies the effect of financial leverage and market size of selected stocks on stock r... more This paper studies the effect of financial leverage and market size of selected stocks on stock returns. Ordinary Least Square (OLS) regression models were used to test the relationship between the dependent and independent variables. The leverage of the selected sector was estimated from the Annual Financial reports covering a period of twelve years from 2014 to 2015 non-financial sectors listed in Karachi Stock Exchange. Furthermore, stock index prices of the selected stocks between 2004-2015 for non-financial sector are used to calculate stock return. Capital structure decisions are very important for any firm because they have a direct impact on firm value as well as shareholder’s wealth. The positives or negatives of these decisions determine the future value of any business. Some studies discussed multiple outcomes or relation between stock return and leverage. Some studies reveal positive relationship between them, some review show negative outcomes and some has blended results. The study concluded that there is statistically significant direct relationship between size which is proxy of market capitalization and stock return (100 index prices). However, there is feeble and inverse relationship between financial leverage and stock return, and this relationship is not significant, so there is no statistically significant relationship between financial leverage and shareholders return.