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The assessment of interdependence between stock markets is an important aspect of international portfolio management. The purpose of this paper is to examine and highlight the diversification potential of South Asian stock markets vis-à-vis developed and European stock markets.

The developed stocks markets include USA and UK, and South Asian stock markets include India, Pakistan and Sri Lanka while DJ STOXX 600 index is used to represent the European stock markets. Monthly data are used to examine long-run relationship through ARDL bound testing approach and estimates are obtained using DLOS. Short-term dynamics are captured through vector error correction-based Granger causality.

South Asian stock markets are closely linked with each other; similarly, developed/European markets are interlinked. US stock market not only impacts European stock markets, it also Granger cause South Asian stock markets. The findings suggest increase in comovement of South Asian stock markets with the global markets after financial crises of 2007-2008.

The diversification benefits of South Asian stock markets for international investors are still evident due to their low relationship (in both long and short run) with developed/European stock markets.

Given the emergence of South Asian stock markets, new insight on their relationship with developed stock markets can provide interesting findings for international portfolio diversification. The South Asian equity markets are an important source of investment because of their immense growth and weak correlation with international markets.

The purpose of this paper is twofold: to find out the perception of university librarians about the current and required competencies and to identify the current rank and to point out the benchmark for competencies of library professionals at public universities in Pakistan.

Quantitative research design is used for the conduct of the current study. A structured questionnaire was used to collect data. The Special Libraries Association instrument “Competencies for Information Professionals of the 21st Century” was used to design the questionnaire. A paired sample t-test is used to establish whether there is any noteworthy distinction between the current and required levels of skills. Inferential statistic was also used and independent sample t-test and ANOVA was used to identify the difference in perception on the basis of different demographic variables.

There is a significant gap between the perceptions of university librarians about their present skills and required skills. The present level of skills is lower than the desired level of competence. There is no significant relationship between the length of job (i.e. experience), grade and skills of academic librarians. But in the case of gender, male have a higher score on the current level of competencies while female have a higher score on the required level of skills.

The findings of this study are helpful for universities in the recruitment, management and training of their librarians on the basis of required skills. Furthermore, it will be useful for librarians in their career planning and continuing education and library schools to revise their curriculum in accordance with needs.