آداب معاشرت، سورة حجرات کی گیارهویں اور بارهویں آیات کے تناظر میں

Dr. Shari'ati is a revolutionary intellectual personality of this century. He regarded Islamic values ​​as the guarantee of salvation and success for humanity. He sought to mobilize and revive frozen Islamic ideas. That is, tried to bring the Islamic concept out of the boundaries of formal and congested boundaries into common and general thoughts. Dr. Shari'ati also presented a unique view that divine Imam transcends than worldly governments and this divine leadership cannot be determined by (Shuraiet). Rather, it can be diagnosed by an obvious reason (Nass). This doctrine of Dr. Shari'ati is contrary to the ideology of the Sunni and the Shi'ite’s concept of Imamat and Khilafat because the Sunni sect believes that Khilafat Or Imamt should be determine by the Shurait (Council) and Shiites by the will(Nass). According to Dr. Shairathi, Imamat cannot be determining through Shourait or Nass but it can be identified by the superior attributes of the Imam. He believes that Imamat is not an external factor which can gain by attainment or by choice; rather, it is an Inherit object.  In accepting this doctrine of Dr. Shari'ati, than the Imamat becomes a part of the system of naturalism (Takveeni). That makes the Imamat not a model process for humanity. So it would be a complicated issue to discuss and discover either the theory of Dr. Shari'ati is a applicable idea of Imamat or it is a just onlyu idialogy which cannot be practiced. The dissertation has been written to examine the reality of these two cases either Imamat is inherit case or it can be attainment case through Shouriat or Nass.   

Determinants of Tunneling: A Study of Non-Financial Concentrated Firms in Pakistan

Conflicting interests of minority and majority shareholders in concentrated firms entice severe illegal tunneling. Tunneling is siphoning of firm’s resources by the controlling shareholders for their private benefits at the cost of minority shareholders. This consequently inflicts losses to minority shareholders, discourages investors and affects the entire firm''s operations. This study aims to examine determinants of tunneling in the non-financial concentrated firms and to predict the short and long run association of influential factors. Study is relying on the secondary panel data collected during 2000 to 2015. Firm’s annual report, Pakistan Stock Exchange and State Bank of Pakistan were used as data sources. Using Fixed Effect Model andARDL, results show that except executive compensation, all are statistically significant using inter-corporate loan as proxy for tunneling. Similarly, all the factors are statistically significant using cash dividend as proxy for tunneling. Results also present that these factors show a significant effect in association with tunneling for short and long run confirmed through ARDL. Theoretically, this study contributes to agency theory and economic theory of crime. While, practically the study contributes to investors, owners and regulatory institutions of the market. Findings of the study share thorough information to investors which may help them for better portfolio decision. Additionally, study also apprise a vast array of stakholders of the firms about the severity of the tunneling and its deep rooted impairments to entire firm’s operations. Recommendations of the study guide regulatory infrastructure of the market to establish and implement rules for shareholders’ protection, encourage investment and harness transparent business environemnts.