نظرة الكونفوشيوسية إلى الكون والإنسان

Confucius was born on September 28, 551BC. He was a teacher, writer, politician, philosopher and ideologue of the ancient China. The philosophy of Confucius emphasizes personal and governmental morality, correctness of social relationships, justice and sincerity. He championed strong family loyalty and ancestor worship. He also recommended family as a basis for an ideal government. His thoughts received official sanction and were further developed into a system known as Confucianism. Confucius' principles found the basis of the common Chinese traditions, beliefs and culture. Confucianism is often followed in a religious manner by the Chinese, but the arguments continue over whether it is a religion or not. The opponents argue that its values are secular, therefore, it is not a religion, while its supporters argue that despite the secular nature of Confucianism, it is based on a worldview that is religious, and, thus, can rightly be called a religion. Confucianism discusses elements of the afterlife and views concerning Heaven, but it is relatively unconcerned with some transcendental matters, often considered essential to a religious thought. This article provides an outlook of the Confucianism regarding the universe and the humanity and its comparison with the Islamic viewpoint of the same.

Impact of Leverage and Liquidity on Performance of Firms

The study is made to explore the impact of leverage and liquidity on the performance of firms. Liquidity and leverage are two of the most important pillars and on these pillars whole operations of the business stand. This research has attempted to establish a relationship between leverage and liquidity with the financial performance of firms operating in Pakistan. Some selected textile firms operating in Pakistan were selected as sample for the research. The data of 76 textile firms was collected. The variables included in this research relating to leverage are as follows total debt to total asset ratio, short term debt to total asset ratio and long term debt to total asset ratio. Liquidity was calculated by using current ratio only. Size was included as control variable. Seven performance variables are used in this research like ROE, ROA, and EPS etc. Descriptive, correlation and panel data analysis were made. Panel data test was applied to find regression between variables. The findings of this research were that low leverage ratios mean high performance as it is negatively associated with performance. Liquidity was significantly and positively related to the performance of textile firms. All the variables except stock price (SP) have positive and significant relationship with the leverage and liquidity of the textile firms. Stock price has no relation with the leverage of the firm while, positive and significant relation with the liquidity of the textile firms. Government should take considerable steps in promoting investment and growth of textile sectors_ Management should formulate careful strategies relating to the decisions involved in the capital structure and liquidity. The similar research can be repeated by adding new variables and by changing the nature of study into exploratory research.