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Financial Risk Management: Impact on Financial Institutions in Pakistan

Thesis Info

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Author

Iftikhar Ahmad

Program

PhD

Institute

Qurtuba University of Science and Information Technology

City

Peshawar

Province

KPK

Country

Pakistan

Thesis Completing Year

2018

Thesis Completion Status

Completed

Subject

Management

Language

English

Link

http://prr.hec.gov.pk/jspui/bitstream/123456789/10316/1/Iftikhar_Ahmad_Management_Sciences_2018_QUSIT_Peshawar_28.08.2018.pdf

Added

2021-02-17 19:49:13

Modified

2024-03-24 20:25:49

ARI ID

1676724718585

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This study investigates the evolutionary process of financial risk management practices connected with different aspects of risk management and financial performance across the financial sector of Pakistan. Despite the growing number of risk management practices in the financial sector in recent years, financial risk management was still at an early stage of development and further research is recommended. The literature review identifies a gap in the financial risk management literature, prompting the development of a theoretical framework to investigate key aspects critical to effective implementation of the risk management. A risk management framework was developed to address key shortcomings of the existing risk management practices in the financial sector and to provide practical guidance to academics and practitioners. The research was conducted as a two-stage empirical study in the finance industry, employing a mixed method of data collection and analysis. Primary data was collected through a questionnaire from the staff members of the financial institutions working in various departments to understand the Risk-Management practices adopted by the financial institutions. The sample size was composed 318 staff members. The questionnaire data was analyzed by adopting the Ordinary Least Square (OLS) Regression model to examine the different aspects of Risk-Management practices. Secondary data was collected from the annual financial reports of the selected financial institutions for ten-years from 2006-2015. The sample of the study comprised 29 banks and 04 Development Financial Institutions (DFI’s). The secondary data was analyzed by utilizing the Panel Regression Model. The literature review supports the industry view of continuous internal and external pressures towards risk management implementation across financial institutions. The research findings confirm that risk management is perceived to have slowly transformed from a process of compliance to a strategic tool and become a source of value creation and competitive advantage. The study also shows that aligning risk management with core organizational strategies and risk culture have been the underlying factors driving a strategic risk management framework sustainable over time. Insufficient senior management support for risk management and inadequate Financial Risk Management: Impact on Financial Institutions in Pakistan ix dynamic risk culture identify as the greatest challenges to risk management sustainability. The study revealed that it is pivotal for financial institutions to formulate an effective Risk-Management system to identify, monitor, measure, evaluate and control different types of risks. The study also showed that effective risk management is valuable for the improvement of financial performance of the financial institutions working in Pakistan. The main contribution to the knowledge of this study is the risk management guidelines for its effective implementation. Specifically, this research offers academics and finance industry practitioners a better understanding of organizational factors critical to the implementation of a strategic risk management framework, supported by empirical evidence.
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مولانا سید اسعد مدنی

مولانا سید اسعد مدنی ؒ
افسوس صد افسوس کہ ۶؍ فروری کو مولانا اسعد مدنی نے داعی اجل کو لبیک کہا، اناﷲ وانا الیہ راجعون، ان کی وفات قوم و ملت کا بڑا خسارہ ہے۔
راقم نے انہیں کئی بار دیکھا اور اس حال میں دیکھا جب وہ صحت مند، توانا، تروتازہ، متحرک اور جوش عمل سے سر شار تھے لیکن ملاقات کا شرف دو تین بار ہی حاصل ہوا، مارچ ۱۹۸۸؁ء میں ان کے والد بزرگوار مولانا سید حسین احمد مدنیؒ پر مسجد عبدالنبی نئی دہلی میں سمینار ہوا تھا جس کے کنویز ڈاکٹر رشید الوحیدی مرحوم تھے، اس میں پہلی بار ان سے شرف نیاز حاصل ہوا، بڑی بشاشت اور گرم جوشی سے ملے، آخری بار ۱۹۹۲؁ء میں سعودی سفارت خانے سے حج بیت اﷲ کا ویزا لینے گیا تو دفعتاً ان پر نظر پڑی، لپک کر ملا، دریافت کرنے پر اپنے کو بتایا تو قریب کی کرسی پر بیٹھنے کے لیے کہا اور کچھ دیر تک باتیں کیں، غالباً بیماریوں کا سلسلہ شروع ہوچکا تھا، اس لیے مجھے بہت مضمحل اور بجھے بجھے سے نظر آئے۔
مولانا اسعد صاحب ۵؍ نومبر ۲۰۰۵؁ء کو وہیل چیئر سے گرگئے، سر اور دماغ میں چوٹ آئی، عصر کی نماز کی تیاری کررہے تھے کہ بے ہوش ہوگئے اور دہلی کے اپولو اسپتال میں داخل کیے گئے جہاں تین ماہ تک موت و حیات کی کشمکش میں مبتلا رہنے کے بعد ۶ فروری کو ہزاروں لاکھوں عقیدت مندوں کو سوگوار اور اشک بار چھوڑ کر رفیق اعلا سے جاملے۔
اس وقت مسلمان بڑی ابتلا اور کشمکش کے دور سے گزر رہے ہیں، ملی قیادت کا میدان مولانا حفظ الرحمان مرحوم کے بعد ہی سے خالی چلا آرہا تھا، مولانا اسعد کی جرأت و بے باکی سے اس کی تلافی ایک حد تک ہوئی مگر ان کے اٹھ...

Investigation of Microstructure and Stress Corrosion Cracking in Al-6061-T6 Alloy at Different Loads

Stress corrosion cracking (SCC) refers to the damage of mechanical components which are under the combined action of static load and corrosive environment. This phenomenon occurs in various applications including naval and aerospace industry where aluminum and steel alloys experience mechanical loadings in the presence of corrosive environments. In this research work, microstructural and environmental influence on corrosion behavior of Al-6061-T6 at different static loads was investigated. A new test fixture was developed for stress corrosion cracking. Dog-bone shaped tensile specimens of Al-6061-T6 were manufactured using CNC milling machine. Tests were conducted at constant loads of 200 N, 500 N and 800 N, in three different environments: dry ambient conditions, distilled water and 3.5% NaCl solution. Testing continued for different intervals of time i.e. 96 hours, 68 hours and 4.5 hours respectively. After each set of experiments, specimens were observed for cracks using metallurgical microscope. Detailed fractographic investigation of all the tested specimens was carried out using Scanning Electron Microscope (SEM). Excessive corrosion and material degradation was observed in specimens tested in distilled water and 3.5% NaCl environments. Microstructural analysis depicted pitting corrosion and crack deformation.  Some regions clearly showed that grain boundaries were attacked due to oxidation and chemical attack causing weakening of grain boundaries and resulted into intergranular corrosion. Precipitates and grain boundaries in Al-6061-T6 served as a reason of crack initiation due to hydrogen diffusion. Fractographic investigation provided the evidence of trans granular fracture as well as intergranular fracture which was observed as dimples and extensive ductile tearing.

Expression of Mismatch Repair Proteins in Colorectal Cancer at Aga Khan University Hospital, Nairobi

Introduction: Microsatellite instability is one of three molecular pathways described in the pathogenesis of colorectal carcinoma. The presence of microsatellite instability in patients with colorectal cancer has implications for prognosis and family counselling. Deficiency in mismatch repair genes leads to microsatellite instability and this can be reliably demonstrated in formalin fixed paraffin embedded tissue by methods, which include immunohistochemistry for the detection of mismatch repair proteins. Local data show a disproportionately large number of younger patients with colorectal cancer compared to that documented in Caucasians. Colorectal cancer in younger ages is often attributed to deficient mismatch repair. The objective of this study therefore, was to determine the proportion of colorectal cancers associated with the microsatellite instability pathway through detection of the mismatch repair proteins on immunohistochemistry. Materials and Methods: This was a retrospective study of 80 colorectal adenocarcinoma resection specimens received over a three-year period from January 2009 to January 2012. The mismatch repair gene mutation expression was analysed by immunohistochemical staining for products of mismatch repair genes. Associated clinical and pathologic characteristics were reviewed and documented. Results: The proportion of deficient mismatch colorectal cancer in the study was 19.4% [95% CI 11.7%-30.4%].There was a significant but weak association between mismatch repair gene protein expression and tumour grade, and tumour infiltrating lymphocytes (tumour grade Cramer’s V=0.263, p=0.031; tumour infiltrating lymphocytes Cramer’s V=0.246, p=0.044). Mismatch repair gene protein expression outcome showed significant but moderately strong association with the anatomic site of tumour, and tumour histological type (anatomic site Cramer’s V=0.469, p=0.001, tumour histological type Cramer’s V=0.469, p=0.001,). Conclusions: The study provides preliminary data of the contribution of the deficient mismatch repair molecular pathway of colorectal cancer in Kenya.