مقاصد الإسلام في تحقيق السلام

This research focused on highlighting the purposes of Islam in achieving peace. This paper explains how Islam is the religion of peace and security for the worlds. Its provisions, legislations and purposes ensured all mankind the right to security and security of all kinds: Psychological security, financial security, social security and other types of security which ensure that humanity can live in peace. This is without any kind of these securities being subjected to any slight aggression, sabotage, deprivation or injustice, and if any of that happens then it would be a manifestation of violence and terrorism that is neither accepted nor recognized by Islam which is the religion of peace. The research has shown that Islam has preceded all international laws and norms with respect to the legalization of human rights in peace and war times alike and the sanctioning of those who violate them in this world and in the Hereafter. This is done with supporting evidence from the Quran, the Sunnah, the work of the leaders of Muslim Ummah throughout the Islamic centuries, and the testimonies of non-Muslims who have lived the mercy of Islam and come to know the observance of Islam of human rights. The aims of the research are: To demonstrate the legitimate purposes that Islam has brought to preserve human dignity and security. To show the precedence and superiority of Islamic law in the field of human rights care. To highlight the rich Islamic heritage of human values and civilization through the rules of humanitarian dealing in Islamic jurisprudence in war and peace, and the contributions of the purposes of the Sharia in the development of rules for the preservation of rights and freedoms.

Interactions Between Corporate Governance, Earnings Quality Attributes and Value of Firm: Empirical Analysis from Non-Financial Sector of Pakistan

The existing literature concerning governance-value relationship is inconclusive as it assumes that the association is direct. A theoretical argument suggests that the effective corporate governance reduces the information asymmetry through better financial reporting quality. This serves as a tool to reduce this information risk. Following the argument, this study is an attempt to investigate the mediating role of earnings quality, a measure of financial reporting quality, in governance-value association. For estimation, panel data of 214 non-financial listed firms in Pakistan for the period 2003-2014 is considered and one-way random effect estimator for the SUR system is employed, as suggested by Biørn (2004). This study uses principal component analysis to measure the overall corporate governance; and to measure the financial reporting quality, five dimensions are considered to capture the reliability and relevancy characteristics of financial reporting. Value of firm is measured through return on assets and Tobin’s-Q. The findings of the study show that the corporate governance effectively improves the earnings quality and value of the firm, which approves the monitoring role of corporate governance mechanism. Moreover, earnings quality contributes positively in maximizing the value of the firm and the results demonstrate that better earnings quality partially mediates the governance-value association. It is concluded that corporate governance not only improves the value of the firm directly, but also indirectly through the channel of earnings quality. The findings may be of interest to the academic researchers, practitioners and regulators who are interested in discovering the quality of corporate governance practices in Pakistani context. The findings also provide the Pakistani business community insights concerning the quality of corporate governance and corporate reporting. Also, this research helps to inform regulators about the benefits of disclosure of more transparent information to stakeholders and to the firm. Keywords: Earnings quality, channel effect, overall corporate governance, SUR, channel effect, value of firm.