International Capital Mobility and Domestic Institutions:Corporate Finance and Governance in Four European Cases

This article considers the impact of international capital mobility on thecharacter of corporate finance and corporate governance in four European countries (Germany, France, Spain, and Italy). We take issue with the widespread view that the growth of international financial markets and the lifting of capital controls will in themselves produce convergence in national systems of corporate finance and governance. Although we find evidence of convergence in specific aspects of financial regulation (e.g., the abandonment of selective credit regulation and the dismantling of barriers to universal banking), these regulatory changes have not produced any clear convergence toward either the Anglo-Saxon model of corporate finance and governance predicted in much of the literature or the alternative German bank-based model. The reasons for this, we suggest, have much to do with the way in which the politics of financialreform are likely to differ from those postulated in market-driven models of regulatory change and the fact that countries are susceptible to international pressures in different ways.     

Influence of leadership style on job satisfaction of NGO employee: The mediating role of psychological empowerment

The objective of this investigation is to analyze the impact of leadership styles on frontline employee psychological empowerment, and thereby, improving the job satisfaction level of employees. A questionnaire‐based survey was conducted in nongovernmental organization (NGO) functioning in two major cities (Islamabad and Peshawar) of Pakistan, analyzing a total sample size of 319. Structural equation modeling results revealed that transformational leadership style has a significant association with job satisfaction, and the effect is partially mediated by the psychological empowerment. Conversely, findings showed that the relationship between transactional leadership and psychological empowerment was insignificant. Though, there existed a direct positive relationship between transactional leadership and job satisfaction. This research makes an important contribution in the area of leadership, which can be useful for NGOs to recognize the importance of leadership and encourage psychological empowerment of frontline employees. The findings also provide significant implications for organizations to understand better the importance of leadership, which will be helpful to enhance organizational success.     

Address of Foreign Minister of Pakistan at SIIS(Shanghai,24 February 2010)

<正>Honorable President, Distinguished Scholars, Ladies and Gentlemen, I consider it a special privilege to speak at the prestigious Shanghai institutes for international studies(SIIS).This institute has come to signify the intellectual vigour of the great Chinese nation.Through its extensive web of institutes and centers of learning,the SIIS encapsulates the rich thought and intellectual traditions of a civilization that spans 5 millenniums.This is indeed a heritage in which you,as scholars,can take justifiable pride.     

Empirical examination of public debt sustainability in African economies: A panel data analysis

This study intends to investigate public debt sustainability across 29 Sub-Sahara African (SSA) economies, employing various econometric specifications, for the sampled years 1996–2020. The study employs Bohn's (Are stationarity and cointegration restrictions really necessary for the intertemporal budget constraint? Journal of monetary Economics, 54(7), pp.1837–1847.) framework of sustainability as the baseline model to assess public debt sustainability across the sampled Sub-Sahara African economies. As additional tests of public debt sustainability in order to support the baseline findings, the study also employs panel unit root and timeseries unit tests. The baseline findings from the OLS, panel quantile and instrumental panel quantile regressions show that public debt is sustainable across the panel of SSA economies. The positive and statistically significant response of primary balance under the Bohn's framework of sustainability manifest that the intertemporal budget constraint is not violated in the sampled economies. The consistency in the estimates under the OLS, panel quantile and instrumental panel quantile regressions also show that the estimates are robust throughout the estimation process. Also, utilizing the panel unit root test for public debt sustainability, the findings show that public debt is stationary over the sampled years which implies that intertemporal budget constraint holds and that public debt is sustainable across the sampled SSA economies. However, the timeseries analysis indicate that although majority of the SSA economies have sustainable public debt ratios, four countries namely Uganda, Sudan, Togo and Cote d'Ivoire have unsustainable public debt ratios. The study has important policy implications in terms of prudent public debt management and fiscal management for the sampled SSA economies.     

The New Racial Calculus: Electoral Institutions and Black Representation in Local Legislatures

In this study we revisit the question of black representation on city councils and school boards using a novel substantive and methodological approach and longitudinal data for a sample of over 300 boards and councils. Conceptualizing black representation as a two-stage process, we fit Mullahy's hurdle Poisson models to explain whether and to what extent blacks achieve representation in local legislatures. We find that while the size of the black population and electoral arrangements matter more than ever, especially for overcoming the representational hurdle, the extent to which the black population is concentrated is also strongly associated with black council representation. Further, whereas black resources and opportunities to build "rainbow" coalitions with Latinos or liberal whites are marginally if at all related to black legislative representation, we find that legislative size is an underappreciated mechanism by which to increase representation, particularly in at-large systems, and is perhaps the best predictor of moving towards additional representation.     

Framework for teachers' acceptance of information and communication technology in Pakistan: Application of the extended UTAUT model

The motive of this research paper is to investigate the teachers' adoption of information and communication technology (ICT) in Pakistan and the application of extended UTAUT model in a new context. A number of factors can cause changes in intention towards the usage of ICT including social, behavioral, and psychological factors, but this study, using the UTAUT model, is limited to examining the behavioral determinants of teachers' acceptance of ICT. To achieve the objective, a quantitative approach was adopted where questionnaire‐based data were obtained for analysis. The analyses were conducted on 341 valid responses that were collected from the teachers of high secondary schools in Khyber Pakhtunkhwa province, Pakistan. Getting the data analyzed through SPSS and AMOS, our results show that performance expectancy, efforts expectancy, social influence, facilitating conditions, and information technology capabilities play a significant role in shaping teachers' adoption of ICT. Moreover, behavioral intentions mediate the relationship between the predictors and ICT usage. Based on the findings of this paper, administrators and government are recommended to spend additional efforts and money by launching programs for their teachers to increase the usage of ICT in their teaching and schools. The study provides numerous insights for teachers, school administrators, and government ICT‐based smart teaching and learning institutions.