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This study investigates the impact of corporate governance mechanisms on performance related turnover. Our results indicate that smaller boards and institutional block holders are positively related to the likelihood of performance related turnover. CEOs that also hold the position of the chairman of the board or belong to a founding family face lower likelihood of turnover. CEO stock ownership is negatively related to turnover and CEOs who own 3 percent or more of their company stock face a significantly lower likelihood of performance related turnover. Moreover, protection from external control market has no effect either on the likelihood of turnover.

Following the financial crisis, across the Western world, defense budgets have undergone substantial and far-reaching cuts. But in the emerging markets there has been a significant rise in defense expenditure (DE). Countries such as China, Brazil, and India have doubled or even tripled their defense spending during the past two decades. It has been generally argued that terrorism can potentially affect economic growth adversely in the short run through a number of channels. Terrorist attacks can increase uncertainty which limits the scope for domestic investments and also diverts foreign direct investment. In order to mitigate terrorism, increased government spending on security can crowd out more growth-enhancing public and private investments in social sectors such as health and education, which in turn may affect the long run growth of a nation. Terrorism also hinders growth by raising the cost of doing business in terms of higher wages, larger insurance premiums, and greater security expenditures. These higher costs result in reduced profits and, thus, smaller return on investment. Terrorist attacks can also destroy infrastructure, thereby leading to business disruptions. This study attempts to examine both the short- (SR) and long-run (LR) associations among terrorism, DE, and its impact on GDP taking time series evidence, using autoregressive distributed lag model (ARDL) model from some selected countries of Asia – India, China, Bangladesh, and Pakistan – during 1990 to 2014. The results show that there are LR associations among the three variables for Pakistan only.

The Federal Government of Pakistan has been interrogated by the tribal communities of the country regarding socio-economic inclusiveness. The Islamic Republic of Pakistan has a large number of ethnic groups, and most of them are economically vulnerable and societally excluded due to partial governmental policy and societal construction. Most of the tribal groups are concentrated in Baluchistan, North-Western Frontier province and the Federally Administered Tribal Areas (FATA). Due to the lopsided developmental policy and existence of the feudal system, the wealth and lands are concentrated in a handful number of rural elites. The tribal communities are not only socio-economically backward but also trapped by terrorism. Due to financial crisis and large-scale unemployment, tribal youths have been involved with various radical forces and criminal activities. The secessionist movement of the Baloch people has a long history of deprivation. This chapter intends to investigate the socio-economic challenges of the tribal people of Pakistan and the reluctant outlook of the federal government. It will also delineate how the tribal youths are being attached to terrorist groups due to unemployment and how this is more dangerous to the security of Pakistan. This chapter is based on the content analysis method. The basic argument of this chapter is that socio-economic inclusiveness is required in a multi-ethnic country to ensure social harmony, national integration and national security.