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The impact of Islamic finance on economic growth is an ongoing debate. The purpose of this study is to empirically evaluate how the development of Islamic finance affects the long- and short-run economic growth of Pakistan.

The institutional variables, Islamic banking development (IBD), Islamic bond market development (IBM) and Islamic stock market development (ISM), are considered as measures of Islamic financial development, and real gross domestic product (GDP) is taken as measurement proxy of economic growth. The quarter time series data from Q1:2006 to Q4:2021 is analyzed through Autoregressive distributed lag model, Bounds test, ECM and Pairwise granger causality test.

The findings of this study indicate that in the long run, there is a significant and positive correlation between IBD and ISM with the real GDP, though ISM negatively cointegrated with real GDP in the short run. In contrast, IBM and real GDP did not find cointegrated in the long run, though the relationship is significant but negative in the short run.

The findings highlight Islamic financial development in Pakistan can contribute to the country's economic development, and this can be achieved by improving the infrastructure, increasing skilled professionals, creating a favorable legal environment and ensuring financial sector stability. Investors can diversify their investments and mitigate risk by adding Islamic financial instruments to their portfolios.

This pioneering study simultaneously measures the cause and effect relationship between Islamic financial development indicators (Islamic banking, Islamic bond and Islamic stock) and economic growth in Pakistan.

This study aimed to explore the expectations and challenges of institutionalized and noninstitutionalized elderly persons.

A purposive sampling technique was used to recruit the participants. The sample of the study consisted of eight (N = 8) elderly persons. Four were institutionalized, and four were noninstitutionalized. The age range of the participants was between 60 and 80 years. A semi-structured interview guide was prepared to explore expectations and challenges of institutionalized and noninstitutionalized elderly persons. The interviews were audio-recorded and later on transcribed verbatim for a detailed in-depth analysis. The interviews were analyzed by using an interpretative phenomenological analysis.

Emergent and subordinate themes were emerged. Superordinate themes emerged after analysis were expectations from self, expectations from immediate family, expectations for betterment in life, expectations from society, challenges related to physical self, psychological challenges, difficulties due to immediate family, problems at a societal level, satisfactory behavior of children, supportive family, satisfaction from society, positive values in old age, striving for betterment in life and health-promoting behaviors. These themes were interpreted in the context of given subordinate themes and verbatim of the participants.

This study will help implement proper strategies for the betterment of institutionalized and noninstitutionalized persons. The study results can also aid in a better understanding of the challenges faced by the elderly population and also provide them with better facilities to fulfill their expectations.

Recognizing the unique and individualized expectations and challenges of the elderly persons can help in providing them person centered care. Better strategies can be introduced to increase their interactions, for better housing facility, health care, food facilities and transportation.

Old age is a challenging phase for individuals if they face difficulties and challenges. This stage is currently unaddressed by society. So, there is a strong need to bring them to the surface so that we can provide them with opportunities to achieve well-being. It can help in better understanding of challenges faced by the elderly population as well as expectations of the elderly population. This better understanding can give the idea about the different ways that elderly persons use to overcome and face these challenges in their life. A comparative study of expectations and challenges among institutionalized and noninstitutionalized elderly populations will give information about the differences among them, helping to understand them better

The topic of expectations and challenges faced by institutionalized and noninstitutionalized elderly in Pakistan holds significant originality value. Although discussions on aging and elderly care are not uncommon, exploring the specific context of Pakistan adds a unique perspective to the subject. By delving into the cultural context, policy implications and comparative analysis, researchers can contribute to the existing knowledge and pave the way for targeted interventions that enhance the well-being of the elderly population.

This study aims at testing the relationship between corporate real estate (CRE) investment and firm performance of nonfinancial firms in the context of an underdeveloped market, Pakistan.

This study uses a sample of 307 nonfinancial firms listed at the Pakistan Stock Exchange from 2010 to 2020. This study adopts a rigorous methodological approach and employs ordinary least square, fixed effect, generalized method of moments system regressions and the propensity score matching technique to account for potential heteroskedasticity, effects of unobserved variables and endogeneity.

This study finds that as the investment in CRE increases, the firm’s performance decreases. The findings are robust to alternative proxies of CRE investment and alternative methodologies. Furthermore, the findings hold for financially constrained and financially unconstrained firms, high- and low-growth firms and safe and financially distressed firms.

This study extends the evidence about CRE investment in an underdeveloped market and suggests potential avenues for future research.

The findings of this study warrant investors, managers and directors be cautious about CRE investment in firms.

This study uses a new proxy of CRE investment, which is more inclined toward the asset management and financial perspective of CRE investment. Furthermore, to the best of the authors’ knowledge, this is the first attempt to investigate the role of CRE investment in an underdeveloped market.

The paper aims to propose and validate a process-based model to enhance managerial effectiveness among micro, small and medium enterprises (MSMEs). It has been observed that business uncertainties and inadequate financial resources that MSME entrepreneurs and managers face require them to constantly engage in strong self-awareness and self-regulating behavior to enhance the efficacy in their roles and, henceforth, their role performance effectiveness.

The approach for data collection was based on the clustering of MSMEs belonging to the clusters machine tool, pump manufacturing, foundry, textile and auto-component clusters in India. The respondents to the study were MSME entrepreneurs and managers who oversee and manage multiple functions like operations, quality, marketing, sales, supply chain management, procurement, personnel and administration and general administration.

The self-efficacy of entrepreneurial managers of MSMEs is observed to play an integral role in enhancing the efficacy of their roles, thus highlighting the use of a process-based perspective while dealing with constant resource constraints and excessive dynamism in their business contexts. The ability to handle multiple tasks effectively and resilience to manage challenges enhances their role-making process, which is significant in achieving and sustaining goal-oriented behavior among MSME entrepreneurs and managers.

This paper would serve as an effective model for entrepreneurs and managers to enhance their efficacy in the individual and interdependent role context, which would help achieve their individual and organizational goals. The model emphasizes a process-based perspective that thrusts the need to relate to the organizational context, enhancing individual confidence for goal-related behavior and fulfilling their role-related expectations.

This paper presents a model of enhancing managerial effectiveness that discusses self-efficacy as antecedent behavior. Here, personal and environmental factors aid cognition to one’s capability to construct reality, self-regulate, encode information and engage in effective managerial action.