The Rationale for Colonialism: Akbar’s Dream (Notes)

Akbar’s Dream [1892] is among the last poems of Alfred, Lord Tennyson – Poet-Laureate of Britain. It was composed when the British Empire was at its apex of territorial expansion and Queen Victoria was the Empress of India. It is reflective of the position of Tennyson as PoetLaureate – whose ‘official’ task was to celebrate the achievements and other notable events of Britain. Tennyson was an ultra-conservative person who believed that Britain was doing a favour to the peoples they had conquered and subjugated. This was intended for their benefit so as to advance them in the scale of civilization.

An Analysis of Institutional Investors, Information Asymmetry and Stock Market Liquidity A Sector Wise Analysis in Pakistan Stock Exchange

The study was conducted by checking the effect of institutional investors (Ins.Invs) on information asymmetry (Inf.Asym) and stock market liquidity (ML) in Pakistan stock exchange (PSX). The aim of the study was to analyze the Ins.Invs, Inf.Asym, and ML on the basis of most populated non-financial sectors among the other sectors listed at PSX. The purposive sampling is base for the study and has selected four sectors, that is, textile, food, chemical and pharmaceutical and mineral plus cement sector as the sample of the study. The sample comprises of 280 sample firms which constitute 70 percent of the total population. The information of the sample firms has been gathered through reliable sources like annual reports of the sample firms, business recorder, yahoo finance and the official web sites of State Bank of Pakistan and PSX. The panel firm information regression was recommended for the firm information analysis. According to the results of this model; in textile sector, institutional shareholdings (IS) and growth shows insignificant effect on market liquidity while firm size and leverage have significantly affect the ML. Further, IS, growth and leverage have insignificant while size of the firm has significantly affect the information asymmetry. In food sector, institutional shareholdings and growth shows insignificant effect on market liquidity while firm size and leverage shows noteworthy effect on market liquidity. IS, growth and leverage have insignificant effect while firm size has significant effect on information asymmetry. In chemical sector, institutional shareholdings, leverage and growth shows insignificant effect on market liquidity while firm size shows noteworthy effect on ML. Furthermore, IS and growth have unimportant effect while firm size and growth has major effect on information asymmetry. In cement sector, institutional shareholdings, firm size and growth have notably affected the ML as well as the leverage has also considerably affected the ML that shows the significance of the variables of this study. Similarly, IS, growth and leverage have momentous effect while firm size has unimportant effect on information asymmetry.