This study aims to extend the relationship of corporate entrepreneurship and agency cost, to firm performance. It also examines this relationship in the presence of behavioral biases to address the behavioral finance approach, and validates it in developed (USA) and developing (Pakistan) economies, in order to generalize the study. The design of this dissertation is to investigate the relationship of corporate entrepreneurship, agency cost and firm performance across both behavioral and traditional approaches of finance. The validated construct has been adopted to measure the corporate entrepreneurship, behavioral biases and risk perception of USA and Pakistani non-financial sector companies listed on the New York Stock Exchange (NYSE) and the Karachi Stock Exchange (KSE), respectively. The data for firm performance and agency cost has been taken from Balance Sheets Analyses (SBP Report) for Pakistani companies and from annual reports of the USA companies on a three yearly average bases (2009, 2010 and 2011). The findings highlight the significant negative relationship between corporate entrepreneurship and agency cost in USA, showing that corporate entrepreneurship can act as an excellent technique in reducing agency problems within organizations, ultimately leading to high performance, however, there is an insignificant impact between corporate entrepreneurship and agency cost in Pakistani context. Regarding the behavioral finance approach, both economies didn’t show any significant relationship of behavioral biases on risk perception; however, a significant relationship of risk perception on corporate entrepreneurship, depicts behavioral biases didn’t impact corporate finance decisions. It shows that corporate finance decisions may differ from person to person irrespective from culture to culture and from country to country, pointing towards individualistic approach. This study provides a foundation for future studies on the relationship of corporate entrepreneurship, agency cost and firm performance. My study helps executives to assess their own scenario while making effective entrepreneurial and financial decisions within companies and how to control or reduce the impact of behavioral biases in particular situations, in order to maximize their return Keywords: Corporate Entrepreneurship, Agency Cost, Firm Performance, Behavioral Biases, and Corporate Financial Decisions.
" جب تمہیں اپنے آپ کو بلند کرنے کی خواہش ہوتی ہے تو تم نظر اوپر اٹھاتے یوں۔۔مگر میں نیچے دیکھتا ہوں کیوں کہ میں بلندی پر ہوں ۔ تم میں سے کون ہے جو ایک ساتھ ہنسے بھی اور بلندی پر بھی ہو ۔ جو سب سے اونچے پہاڑوں پر چڑھتا ہے وہ ہر ایک غم ناک کھیل اور غم آلود سنجیدگی پر ہنستا بھی ہے " اردو ادب میں ایسے بہت سے لکھنے والے گزرے ہیں جن کا لکھا ہوا کہانی سے پر ہوتا تھا کہانی پن ہی ان کی پہچان اور شناخت تھی مگر جیسے جیسے وقت گزرتا گیا دن مہینوں میں ، مہینے سالوں میں سال صدیوں میں تبدیل ہوئے تو لکھنے کے تقاضوں میں بھی تبدیلی آئی۔اکیسویں صدی انقلاب کی صدی ہے ایسا ہرگز نہیں کہ ایک انقلابی نعرہ لگایا اور انقلاب برپا ہوگیا بلکہ صدیوں سے آزاد ذہنوں نے اس کی آبیاری کی ہے تب جا کر یہ آزادی کی گھڑیاں میسر آئی ہیں ۔ ہر دور کا ادب اپنے الگ تقاضے اور رجحان رکھتا ہے مگر ان میں جو مشرک چیز ہے وہ ہے فنکار کا تخیل جس فنکار کے تخیل کے گھوڑے جتنے بے لگام ہوں گے وہ اتنا ہی بڑا فنکار ہوگا بشرطیکہ وہ لفظوں کی فسوں کاری سے واقف بھی ہو۔ احمد ندیم قاسمی ایک جگہ لکھتے ہیں : " ہمارے ذق فن کا اصرار ہے کہ اگر فن کار حس کار نہیں تو وہ فن کار نہیں ۔ " اس سے مراد ہے کہ فن کار اردگرد کی چیزوں کو چار چار آنکھوں سے دیکھتا ہے ایک عام انسان کے لیے راستے میں آنے والی جھاڑیاں رکاوٹ کا باعث ہیں مگر ایک فن کار اس سے زندگیوں کو بن رہا ہوتا ہے یہ ہی ذوق جمال ہے ۔ ایک فن کار اگر ایک...
This study aims to find out: (1) students’ perceptions toward bilingual education in ICP (International Class Program) toward the use of two languages of instructions (English and Indonesian) by the lecturer in classroom. (2) to investigate its benefit for students in ICP chemistry education. The researcher adopted a descriptive qualitative research with a case study method. To gain the data, the researcher employed questionnaire with the students. The subjects in this study were 24 of students sixth semester belong to the International Class Program (ICP) chemistry education in State University of Makassar. The results of this study showed that there were the bilingual education helps the students to gain control their English skill. It showed that students’ positive perceptions toward the use of bilingual language as language instruction in the classroom by the lecturer. It is concluded that teaching chemistry in English facilitates the learners’ attempt in learning English.
Investment behaviour comes under the field of behavioural finance. It is a process of investors' decision making
at micro level. The process based on some specific features of investment products and services. This study
was subjective in nature and cleared the scope of quantitative research in this regard to understand the
investment behavior of generation Y investors while they are investing in the stock markets. A purposive
sampling technique was used to collect data from the 325 respondents representing generation Y working in
financial institutions. A structured questionnaire technique was used for data collection so the analysis could
reflect true results. Multiple regression analysis technique was used to test the study hypotheses.
The findings of this study indicates that investment choices, level of risk and behavioural biasness have direct
influence on the portfolio selection of the generation Y investors and they are not behaving according to
traditional theories of finance. The results also demonstrate that the generation Y investors of financial
institutions understand the stock selection criteria and perceived risk attitudes toward the investment
decisions. Theoretically, this study provides a possible solution to understand the behaviour of generation Y
investors.
Practically, this study is helpful for financial institutions to suggest best financial securities according to the
behaviour of generation Y investors. At the end, this study also contributing in the existing literature on the
behaviour of generation Y investors.