وہ غیروں سے پیمان کرنے لگا ہے
سرا سر ہی نقصان کرنے لگا ہے
تمھاری توجہ، تمھارا تبسم
مرے غم کا درمان کرنے لگا ہے
تغافل ، جفائیں ، ستم کاریاں
بہت مجھ پہ احسان کرنے لگا ہے
مقام تشکر ہے وہ اب تو مجھ پر
دل و جان قربان کرنے لگا ہے
نظر لگ نہ جائے کہ تائبؔ کی خاطر
وہ راحت کے سامان کرنے لگا ہے
This study deals with a historical overview of the entry of Islam to the Indian subcontinent and the contribution of the companions, successor, and their followers in spreading the Prophetic Sunnah in it. Moreover, It contains a brief historical overview of the emergence of hadīth science، its weakness, renaissance, development, and flourishing, and a study of the attention of Muhaddithūn to the Sahih al-Bukhārī by writing its Shuruh, Taliqāt، Hawāshī, and Tarājim in the Indian subcontinent. It has been proven from the study of the history of hadīth science that after the entry of the Ghaznavids and the Ghurids to this region, the science of hadīth weakened due to the interest of the locals in rational sciences until Sultān Ala’ud-Dīn al-Khiljī (d. 716/1316) period. The scholars began to pay attention to the compilations of hadīth in general and Sahih al-Bukhārī in particular, and the first Sharh of Sahih al-Bukhārī appeared by Sheikh al-Hassan b. Muhammad al-Saghānī al-Lāhourī (d. 1252/650). It was revealed from a historical study of Sahih al-Bukhārī’s related studies in the Indian subcontinent that all were written in three stages. The first stage was the era of the renaissance of hadīth science and the emergence of Sahih al-Bukhari’s Shuruh and Hawāshī in the Arabic language. The second stage was the era of the development of hadīth sciences and the emergence of Sahih al-Bukhari’s Shuruh and Tarājim in the Arabic and Persian languages. Besides, the study proved that it was the era of translation and authorship in the Persian language, which was one of the most widespread languages، understanding, and delivered in the scientific community of the Indian subcontinent. As for the third stage, it is the flourishing of hadīth science and the emergence of a diversity of books about the Sahih al-Bukhārī in Arabic, Urdu, and Pashto. It was discovered from the study that the Urdu language took the place of Persian in the dissemination of legal sciences and the authorship of Sahih al-Bukhārī.
This longitudinal study is an empirical investigation into the financial policy of Pakistan''s non-financial corporate sector over a thirteen year period starting from 1999 to 2011 by using panel data methodologies. Most significant capital structure theories can be grouped into two broader categories, namely Pecking Order Theory and Tradeoff Theory. The Pecking order theorists believe that firms follow an order of preference for one source of finance over other sources. Tradeoff theory predicts that firms adjust their capital structure on the basis of underlying costs and benefits of the debt and equity capital. Firms optimize their capital structure by balancing marginal cost with the marginal benefit of the debt. Panel data regressions were applied in a systematic way to test the impact of speed of adjustment on financial performance. The empirical results indicate that the size of the firm, profitability, collateral value of assets, firm specific interest rate, non-debt tax shield, spontaneous finance and short term solvency are the significant determinants of the target capital structure. The Size of the firm, the collateral value of asset and short term solvency have a positive relationship with the target capital structure. On the other hand, profitability firm specific interest rate, non-debt tax shield and spontaneous finance has negative relationship. Growth opportunities have positive but statistically insignificant relationship with contractual debt to asset target ratio and positive and significant relationship with Long term debt to asset and total debt to asset target ratios. The results show that the adjustment speed towards target capital varies across industry and over time. The speed of adjustment is affected by the macroeconomic and firm specific factors. Results also indicate that volatile inflation and higher interest rates impedes the adjustment speed. Banking sector performance, GDP growth rate and distance to target capital structure accelerates the speed of adjustment. It is also found that closer the firms are to their target capital structure by speedy adjustments better the financial performance. Speed of adjustment has a significant effect on the financial performance of Pakistan''s corporate sector. The results are consistent with the other international studies with ignorable differences.