”بانگ درا" سے” 13 " بال جبریل" سے "27" غزلوں کا انتخاب کیا گیا ہے۔ اس طرح کل” 4 “غزلیات اس مونوگراف میں شامل ہیں۔
Every Human need Peace. Making peace is a matter of individual and institutional choice, as well as of individual and institutional change. Thus, peace requires a sense of inner conversion (metanoia) a change in policies and practices. Peace-making ultimately requires commitment, courage and sacrifice. Islam proved that Muslims and non-Muslims are all equal as human beings and are equal in human compassion and relation-ship. The teaching and instructions given by Islam with regard to mutual respect and moral excellence are primarily meant for Muslims; however, non-Muslims are also included in it. The Holy Prophet Muhammad. Taught his followers high morals and considerate in dealing with others. The Holy Prophet Muhammad, gave ideas concerning human rights, collective justice, tolerance, and mutual peaceful existence in the internati-onal relations. This article explains about the interfaith dialog according to the Sayings of Holy Prophet Muhammad.
The study aimed to explore the impact of executive compensation and ownership concentration on firm performance. For this purpose relevant part of 524 annual reports of companies listed on KSE 100 are examine during the period from 2008 to 2014.
The regulatory framework (the Companies Ordinance 1984 and Code of Corporate Governance 2002) is very well articulated and covering all aspect of compensation and ownership concentration but the compliance of the law is not significant in Pakistan. Since many SROs are required to maintained functional website having information regarding company profile, Governance, investor relationship, media, election of directors, statement of compliance and financial statement. I am unable to access functional website of at least 15% of targeted sample (KSE 100 index).
Since majority of the companies in Pakistan are family centered that lead to ownership centering and these family owned companies are performing well therefore the owners does not open the slot for individual/institutional investors to avoid hostile takeover. CEO dominance is high under such conditions since the probability is higher that CEO is the owner of the company and he/she has the major role in BOD selection. This dominating position empowers him/her to restrict the monitoring role of the BOD and directors forced to ratify management decisions. CEO uses the same influence for setting up the compensation of top executives. This study also confirms that compensation has the positive relationship with firm performance where majority shareholding is with institutional investor but the same relationship become negative if ownership changes to non-institutional investors. Companies having financial business are subject to multiple legal / regulatory reviews in Pakistan. Studyreveals that legal regulation has impact on this relationship since I have observe that top executive compensation relationship with the firm performance is insignificant in companies having financial business in the comparison to the companies involve in non-financial business where I found some relationship between top executive compensation and firm performance.
Ownership structure in Pakistan also has the impact on relationship between ownership concentration and firm performance. Study observes the negative relationship between ownership concentration (represent by capital owned by top five shareholders) and firm performance. Market as whole observed an approximate reduction of .033% in AROA by Increase of 1% in ownership concentration. Institutional investors have external exposure and experience to manage companies therefore their ability to produce good results are higher. Study confirmed that ownership concentration have the positive relationship with firm performance where majority of the shareholding is with institutional investor but the same relationship become negative if ownership changes to non-institutional investors.
It noted that results of above mention variables are varying in different sectors. Impact of executive compensation and ownership concentration on firm performance is high in sectors like Services, Cement, Chemical, Fertilizer, Oil and Gas and other industry while sectors like Banks, Food, Power Generation and Distribution have limited impact and no impact have been noted in Non-banking Finance Companies and Textile.