https://ojs.umt.edu.pk/index.php/jfar <div class="row" style="text-align: justify;">The Journal of Finance and Accounting Research (JFAR) is a multidisciplinary international journal of the Department of Banking and Finance, Dr Hasan Murad School of Management (HSM), University of Management and Technology (UMT), Lahore, Pakistan. JFAR is committed to publishing high-quality studies in finance and related fields and is widely circulated, both nationally and internationally.&nbsp;Accounting, Finance &amp; Auditing are seen as essential components for the successful implementation of market-based development policies supporting economic liberalization in the rapidly emerging economies. JFAR publishes research articles and reviews within the whole field of&nbsp; Accounting, and it will continue to provide information on the latest trends and developments in this ever-expanding subject.</div> en-US <p style="text-align: justify;">JFAR follows an open-access publishing policy and full text of all articles is available free, immediately upon acceptance. Articles are published and distributed under the terms of the <a href="https://creativecommons.org/licenses/by/4.0/">Creative Commons Attribution 4.0</a> International License.&nbsp;Thus, work submitted to UMT Journals implies that it is original, unpublished work of the authors; neither published previously nor accepted/under consideration for publication elsewhere.&nbsp;On acceptance of a manuscript for publication, a corresponding author on the behalf of all co-authors of the manuscript will sign and submit a completed&nbsp;<a href="https://ojs.umt.edu.pk/index.php/jfar/libraryFiles/downloadPublic/19">Author Consent, Copyright, and Declaration Form.</a></p> [email protected] (Editorial Office JFAR) [email protected] (Editorial Assistant) Thu, 15 May 2025 10:53:02 +0000 OJS 3.1.1.4 http://blogs.law.harvard.edu/tech/rss 60 https://ojs.umt.edu.pk/index.php/jfar/article/view/2071 <p>Digitalization has become an economic force in the modern era, restructuring traditional business models, approaches, and procedures. The embracing of widespread digital technology, along with continuous development of human capital, to promote entrepreneurship is a significant challenge. This paper investigates the effect of digitalization and GDP on entrepreneurship, as well as the moderating effect of human capital. For this purpose, fixed effect estimation technique was used on annual unbalanced panel data of 139 countries collected for a period of 9 years, that is, from 2011 to 2019. The findings show that digitalization has a positive and a statistically significant impact on entrepreneurship in the singleton model, as well as a positive and significant impact in all other models. Similarly, GDP growth also has a positive and significant effect across all the models. Human capital, proxied as tertiary school education, was also found to have a positive and significant impact on entrepreneurship. The analysis shows that the impact of digitalization is more significant in countries where tertiary education fosters the development of human capital, than in those countries that offer primary and secondary education. Furthermore, human capital also moderates the nexus between digital financial inclusion, economic growth, and entrepreneurship. The results of the regional comparison also depict that there is a strong positive and significant impact of all the proxies of digitalization and GDP growth on entrepreneurship in Europe and Central Asia, as compared to East Asia and the Pacific. These results show that the higher the level of digitalization, economic growth, and human capital, the higher the level of entrepreneurship.</p> . Abaidullah, Muhammad Zahid Iqbal, Muhammad Kashif Ali, Syed Sikander Ali Shah ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jfar/article/view/2071 Thu, 15 May 2025 00:00:00 +0000 https://ojs.umt.edu.pk/index.php/jfar/article/view/2002 <p>The current study aimed to examine the effect of portfolio turnover on the performance of <em>Shariah</em>-compliant equity funds of Pakistan. On the basis of literature, five additional explanatory variables were included specifically expense ratio, age, size, risk, and fund flow. Panel data regression was applied on the data of 10 <em>Shariah</em>-compliant equity funds of Pakistan for the time period July 2014 to June 2018. Panel data regression model was selected on the basis of two sequential tests namely Hausman test and fixed effects test. The results indicated a significant positive relationship between fund performance and portfolio turnover, which served as evidence to articulate portfolio turnover as a rewarding activity. Moreover, results showed significant positive relationships of fund performance with risk and fund flow, indicating that fund performance improves by making high risk investments and attracting large fund flow. This study is distinctive as it endeavored to examine the turnover-performance relationship in respect of <em>Shariah</em>-compliant equity funds of Pakistan. Furthermore, the study considered only <em>Shariah</em>-compliant equity funds; consequently, this relationship may be studied in future for other types of mutual funds of Pakistan.</p> <p>&nbsp;</p> Muhammad Shoaib Hassan, Muhammed Huzaifa, Naseer Abbas ##submission.copyrightStatement## http://creativecommons.org/licenses/by/4.0 https://ojs.umt.edu.pk/index.php/jfar/article/view/2002 Thu, 15 May 2025 00:00:00 +0000