شاگرد کے خلاف تادیبی کاروائی کا دائرہ کار سنت نبوی اور فقہ اسلامی کی روشنی میں ایک تحقیقی جائزہ

Education is the development of the different aspects of human being like psychological, social and physical development etc. It is not only the provision of information but it is for the sake of guidance of students to make them beneficial human beings. A teacher inculcates good habits in students and tries to reduce or terminate bad habits in them. Therefore, the responsibility of teacher is to guide the students about good and bad along with improving their academics. But while doing so, the teacher should avoid the ways which can be harmful for the students. Therefore he (the teacher) should know how to guide the students and stop them from wrong doings. At what time what technique, he should adopt that can give benefits to students? He should be aware of the student’s psychology, their age and their abilities. Sometimes punishment is very much necessary for students to make them realize not to commit anything like this again. At this critical moment what can help the student and teacher? The Holy Prophet Muhammad (SAW), being a perfect teacher guided the Umma in this aspect. He used many skills as a teacher and taught his followers, how to guide their children and pupils. Many times the prophets would use to advise his followers on anywrong doing and that is why none of the followers repeated the same mistake. It is very important to follow the teachings of the Holy Prophet in aspect. This research paper discusses the way of handling the students in different situations.

Exploiting the Market Inefficiencies: the Case of Single Stock Futures Arbitrage at Pakistan Stock Exchange Limited

This study examines the pricing efficiency of the derivatives segment of Pakistan Stock Exchange (PSX), particularly the Single Stock Futures (SSF), to look for the arbitrage opportunities. Futures provide profit-making opportunities to the arbitragers if these contracts are being traded above or below their theoretical fair price. A positive mispricing helps to get a riskless profit by selling the futures and buying the underlying stock and negative mispricing yields through buying the futures and selling the underlying stock. These contracts are available for more than forty individual stocks listed on PSX that are selected biannually through uniform selection criteria. The analysis is piloted on one-year data collected from twenty-two firms, engaged in stock futures trading on PSX. Summary statistics confirmed numerous instances of deviation of these future contracts from their fair prices calculated by the cost of carry formula. Though negative deviations were greater in magnitude, positive deviations were relatively more in frequency, leading to the conclusion that SSFs are generally sold on premium in our stock market and arbitrage trading is easier in this market. Results of random effect Tobit model indicated that behavior of price deviations in SSFs can be determined by different factors. It is observed that absolute mispricing increases with the increasing time to maturity of these contracts. Increasing price bands are also associated with increasing volatility of underlying stock. Absolute mispricing behaves differently for liquidity, as measured by trading volume, of futures and their underlying stock. Lower liquidity of underlying stock and higher liquidity of SSFs increases the mispricing spreads. Open interest cannot significantly explain the behavior of mispricing.