التماسك النصي وعلاقته بالنص القرآني دراسة نظرية في ضوء التراث النقدي والبلاغي

The concept of cohesion is not only a semantics one that exists within the meaning of text; it refers to grammatical relations of the Text The concept of cohesion is not only a semantics one that exists within the meaning of text; it refers to grammatical relations of the Text that exist within surface structure of the text, and that define it as a text. That is why the study of cohesion is important in text linguistics, especially in the Text of holy Qur‘ān.  Therefore the ancient researchers have chosen it in different ways in the Qur‘ānic textual analysis. The ancient Arab started the study of Cohesion to prove the Qur‘ānic text as “Mojza” and “ijaaz” because of its organization and arrangement of text according the “Nazem” “Insijaam” “Ittisaaq” “Iltehaam” and many others. The English term that substitutes these terms is just Cohesion and Coherence. So we can say that the Arab was doing well about the discourse/textual analysis of the texts, especially the Qur‘ānic textual cohesion was their main goal. This research work differ from previous works in many aspects, while  the researcher focuses on the concept of cohesion and its various aspects, particularly in terms of the cohesion and coherence in Arabic Language in the light of Qur‘ānic text. That exist within surface structure of the text, and that define it as a text. That is why the study of cohesion is important in text linguistics, especially in the Text of holy Qur‘ān.  Therefore the ancient researchers have chosen it in different ways in the Qur‘ānic textual analysis. The ancient Arab started the study of Cohesion to prove the Qur‘ānic text as “Mojza” and “ijaaz” because of its organization and arrangement of text according the “Nazem” “Insijaam” “Ittisaaq” “Iltehaam” and many others. The English term that substitutes these terms is just Cohesion and Coherence. So we can say that the Arab was doing well about the discourse/textual analysis of the texts, especially the Qur‘ānic textual cohesion was their main goal. This research work differ from previous works in many aspects, while  the researcher focuses on the concept of cohesion and its various aspects, particularly in terms of the cohesion and coherence in Arabic Language in the light of Qur‘ānic text.

Corporate Governance and Market Value in Pakistan

Corporate Governance is the mechanism by which companies are managed and controlled in the best interest of the shareholders. In order to eliminate the agency problems and to strive for goal congruence between the corporate managers and shareholders, different codes of corporate governance have been developed keeping in view the legal, social and economic structure of a particular country. In Pakistan code of Corporate Governance 2003 was initially adopted which was revised and updated in the form of Code of Corporate Governance 2012. This research study focuses on the relationship between corporate governance and market valuation in order to confirm that those companies that employ good corporate governance mechanism are valued more than other non-complying companies. For this purpose, two measures of value i.e. Tobin Q and MVA have been used while corporate governance is measures through six variables i.e.Ratio of Executive directors to Total Directors (Re), Ratio of Independent Directors to Total Directors (Ri), Role duality (Rd), Ratio of Management Remuneration to Total Salaries (Rm), Number of Board Meetings (Dm) and Ownership concentration (Ow) along-with four control variables i.e. Size of the firm (Sz), Sales Growth (Sg), Leverage of firm (Lev) and Return on Assets (ROA). In order to determine the relationship between the two variables sample of companies included in KSE-100 index of Pakistan Stock Exchange have been selected while multiple regression technique and Pearson?s correlation is used for the purpose of analysis. The result of data analysis shows significant relationship of corporate governance measures with both Tobin Q and MVA, which is consistent with the previous studies. The findings of the study recommend adoption of corporate governance practices to the Governments Agencies, Policy makers and Corporate managers as it will result in enhancing profitability, growth, market value at microeconomic level while it with lead to greater market stability by enhancing investor?s confidence, development of corporate and financial markets, improving FDI and GDP growth at macroeconomic level. Pakistan is the major emerging market of South Asia and being strategic partner of China in the China Pakistan Economic Corridor (CPEC) it will be the center of major economic and corporate activity in the near future. However in order to attract potential corporate investors the corporate governance framework requires further restructuring and improvement while financial, legal and economic environment needs to strengthen along with development of physical infrastructure to obtain maximum economic gains from the CPEC projects.