Journal of Quantitative Methods <p style="text-align: justify;"><em>Journal of Quantitative Methods&nbsp;</em>(<em>JQM</em>) is a multidisciplinary bi-annual journal launched in 2017 by the Dr Hasan Murad School of Management (HSM), University of Management and Technology (UMT), Lahore, Pakistan.&nbsp;<em>JQM</em>&nbsp;provides new insights and fosters critical debate about the role of data analysis in business and economics.&nbsp;<em>JQM</em>&nbsp;is a double-blind peer-reviewed publication dedicated to the exchange of the latest academic research and practical information on all the aspects of quantitative methods in business and social sciences. The journal publishes original research papers, reviews, and case studies by academicians and professionals.</p> en-US <p style="text-align: justify;"><em>JQM</em> follows an open-access publishing policy and full text of all published articles is available free, immediately upon publication of an issue. The journal’s contents are published and distributed under the terms of the <a href="">Creative Commons Attribution 4.0 International</a> (<a href="">CC-BY 4.0</a>) license. Thus, the work submitted to the journal implies that it is original, unpublished work of the authors (neither published previously nor accepted/under consideration for publication elsewhere). 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 <a href="" target="_blank" rel="noopener">Copyright and Author Consent Form.</a></p> (Sajid Ali) (Syed Mughees Ul Hassan, Editorial Assistant) Fri, 23 Jun 2023 00:00:00 +0000 OJS 60 Is this a reality? Occupational stress impacts on Employee Turnover Intention mediated by Democratic Leadership <h2>Abstract:</h2> <p><strong>Purpose</strong> – Human Resource is an essential asset of any organization. Competent pool of employees imparts their potential for the success and sustainability of the organization but the democracy which prevail in some organizations render the potential of employees and employees suffered stress and anxiety which ultimately lead them towards quitting their jobs.</p> <p><strong>Design/methodology/approach</strong> – Self-administered, and online method for surveying was used the gathering of data of the Pakistani banking sector. The data were collected from the 315 respondents. 400 questionnaires were distributed but get back only 315 responses for analysis.</p> <p><strong>Findings</strong> – The structural model of Smart PLS and construct reliability and validity model were used which inclined towards the significant relationship between the variables. Results show that occupational stress and democratic leadership have contingent effect on the employee turnover intention.</p> <p><strong>Practical Implications</strong> – organizations should eradicate the occupational stress on employees. They should develop the self confidence among the employees. Democracy should be minimized, and employees should be rewarded according to their performance not favoritism. These practices can eliminate the turnover intentions from the mind of employees.</p> <p><strong>Originality/Value</strong> – This study suggests that Occupational stress is the important factors that influence directly on the Employee Turnover Intention and Democratic Leadership also mediated the effect of Occupational stress and Employee turnover intention.</p> Ahmad Tisman Pasha, Shahroze Habib, Syed Faraz Ahmed Gilani ##submission.copyrightStatement## Wed, 12 Jul 2023 09:11:02 +0000 Inflation Forecasting Under Different Macroeconomic Conditions: A Case Study of Pakistan <p><em>Inflation forecasting has been important task for monetary authorities, policy makers and government. Prediction about inflation confer us a precise image of how the economy is expected to accomplish in the future. It is essential job for researchers to examine which methods are suitable for inflation forecasting. We have used Naive model, ARIMA model, Philips curve model and Philips Curve (TAR) under different macroeconomic conditions with reference to real-time, revised and final data from 1974 to 2014 and predicted out-of-sample inflation forecast for 2015, </em><em>afterward we roll-forward our regression from 1975 to 2015 to forecast inflation for 2016.We have analyzed naive model is superior to other modelsbecause RMSE and MAE of naive model are less than other models by using real-time, revised and final data for one year-ahead out-of-sample inflation forecasting. On the other hand for two years ahead out of sample inflation forecast, according to real-time data RMSE shows that naive model is most superior to other models whereas MAE shows that Philips curve Threshold auto regressive model is most superior to other models. According to revised and final data for two years ahead out of sample inflation forecasting both forecasting accuracy measures shows Naive model is most superior to other models.</em></p> Iqra Iqbal, Ahsan Satti ##submission.copyrightStatement## Wed, 12 Jul 2023 09:10:09 +0000 Economic Welfare and the COVID-19 Pandemic in Nigeria: An Overview of the First Half of 2020 <p><em>Corona virus pandemic is a current misery not only to health status but also to economic wellbeing and to the world at large. This study examines the relationship between the pandemic outbreak and economic welfare using daily data on proximate economic welfare measures-real Gdp and changes in consumer price index-and the disease indicator variables-discharge rate, fatality rate, spread rate and number of tested cases. The Prosperity theory is adopted and the estimation issue is rooted from the robust least squares technique due to the failed normality assumption of the conventional least squares. Results indicate that corona virus due to its spread lowers labour supply and causes production shortages and subsequently results in hike in price and loss of real income value. High discharge rate can increase real income value and hence economic welfare. Immediate Financing, regulatory, equity and diversification strategies are needed to revive the Nigerian economy.</em></p> Olakunle Jimoh ##submission.copyrightStatement## Wed, 12 Jul 2023 09:09:07 +0000 Unraveling the Mystery of Default Prediction: A Study on the Textile Industry in Pakistan <p>Default events are inevitable in any economy and can have a considerable impact on economic stability. However, predicting defaults before occurrence has always been a challenging task for researchers around the world. In Pakistan, the textile industry experiences a high rate of default, which motivated us to conduct a study on predicting default in this sector. We analyzed data from 134 listed companies in the textile industry between 2000 and 2020, and segregated the industry into three sub-sectors (Composite, Spinning and Weaving with Textile Associated Products) for better analysis. After reviewing the literature, we identified five widely-used default prediction models which led us to perform a comparative study to validate their performance. Findings revealed that Grover’s G-Score Model was the best predictor of default, followed by Springate’s S-Score Model based on both model accuracy and model validation. However, it is important to note that our study is limited to the textile sector and future studies could include other sectors and more advanced methods to improve accuracy. This study can be useful for investors and financial analysts in assessing the risk of default in the textile industry and making informed investment decisions.</p> Jahanzaib Alvi, Imtiaz Arif ##submission.copyrightStatement## Mon, 26 Jun 2023 11:07:24 +0000 Hybrid Modeling of Arima, ANN and SVM for Macro Variables Forecasting in Pakistan <p style="text-align: justify;"><em>Time series forecasting remains a challenging task owing to its nonlinear, complex and chaotic behavior. The purpose of this paper is to analyze the forecast performance of different models for Pakistan’s macroeconomic variables such as inflation, exchange rate and stock return. In which linear Autoregressive integrated moving average (ARIMA) model and nonlinear models like artificial neural networks (ANN) and Support vector machines (SVM) are employed. Then a hybrid methodology is used which combines the linear ARIMA with nonlinear models of ANN and SVM. The forecasting performance of all models i.e., ARIMA, ANN, SVM, ARIMA-ANN and ARIMA-SVM are compared on the basis of RMSE and MAE. The results indicate that the best forecasting model to achieve high forecast accuracy is the hybrid ARIMA-SVM.</em></p> Hafsa Hina, Rizwan Ali, Amena Urooj ##submission.copyrightStatement## Fri, 24 Feb 2023 13:08:56 +0000 Empirical Assessment of Business Competitiveness and Income Distribution: A Case of Selected Lower-Middle-Income Economies <p>The present study attempts to quantify the quadratic nexus between income distribution and business competitiveness. The study also adds interaction term of development expenditure with business competitiveness to examine impact of both on income inequality. The present study uses yearly panel data from 2008 to 2018 for 27 lower-middle-income&nbsp;economies. The results of the study are based on Quantile Regression for Panel Data (QRPD). The findings of the study reveal a U-shaped pattern between business competitiveness and income inequality. Further, an insignificant negative impact of development expenditure on income inequality is observed. However, if lower-middle-income economies take into account development expenditure with business competitiveness then the impact on income inequality gets significant with the same sign. The variable urban population is significant and decreases income inequality while broad money (proxy of financial development), trade, and rule of law have a significant role in increasing income inequality. The study suggests that development expenditure and business competitiveness may increase simultaneously for more equal distribution of income. Moreover, standardization of rule of law in lower-middle-income economies is also very important for equal distribution of income.&nbsp;</p> Muhammad Ibrahim Saeed, Saima Sarwar ##submission.copyrightStatement## Wed, 04 Jan 2023 11:06:28 +0000 Performance of Modality Tests on Existence of Bimodality <p>In this paper, the Robertson’s and Fryer’s (1969) conditions are applied for the existence of bimodality in the mixture of normals. Best modality test is the pre-requisite to evaluate whether the existing data is a unimodal or bimodal. On the same data the researchers also assessed the bimodality through modality tests. For this purpose the modality tests are compared on size and power properties designed by Monte Carlo simulation. After using the simulated critical values, the results showed that the entire modality tests have stable sizes. In power assesment, mostly the Silverman Bandwidth test was found the best test.</p> Abdul Ghafar Shah, Shahid Akbar, Habib Nawaz ##submission.copyrightStatement## Wed, 04 Jan 2023 00:00:00 +0000 Triple Bottom Line Corporate Sustainability and Organizational Performance: The Mediation of Employees Work Engagement <p>Management scholars are currently focusing on designing research that could cater the big issues of 21<sup>st</sup> century organizations including sustainability. Current research uses and extends Triple Bottom Line perspective that conceptualizes sustainability as comprising of economic, social and environmental dimensions. Though most of the previous research has focused on sustainability as a consequence of innovation and quality, present research contributes to literature by studying corporate sustainability as an antecedent of quality performance and innovation performance. Employees’ work engagement has also been incorporated in the framework as a potential mediator. To test the conceptual framework, a positivist research philosophy was utilized with cross-sectional design and quantitative approach via structured questionnaires. Data was collected from Iron and Steel Industry of Pakistan that has second highest growth rate for year 2017-18, and the responses aggregated to 216 in number. Structural equation modeling was used to validate the constructs through measurement model, and to test the hypotheses through structural model. The results revealed that corporate sustainability (economic, social and environmental) positively influences organizational performance (quality and innovation performance), and employees’ work engagement partially mediates this relationship. In Pakistan, the GDP and the cost of environmental degradation are increasing simultaneously. Current research offers a solution to this problem through suggesting that adopting sustainable practices can help resolve country’s environmental issues without taking a toll on organizational performance. It also explains that corporate sustainability leads to organizational performance through employees’ work engagement, thus providing an effective way to enhance employees’ work engagement as well.</p> Fizza Kanwal, Umer Ayub, Kashif Rathore ##submission.copyrightStatement## Wed, 04 Jan 2023 00:00:00 +0000 Evaluating Nonresponse Bias for a Hypernetwork Sample Generated from a Probability-Based Household Panel <p>Hypernetwork sampling aims to generate representative samples of populations for which a sample frame does not exist or is too costly to construct. This multi-level sampling method relies on nominations from one sample source (Stage 1 sample) to construct another sample (Stage 2 sample). However, nonresponse from the Stage 1 sample has the potential to produce bias in Stage 2 of the hypernetwork sample if Stage 1 respondents differ from nonrespondents. This paper examines nonresponse in a hypernetwork sample of religious congregations in the U.S. generated from a probability-based household panel that includes background information for all panelists including Stage 1 nonrespondents. This study also illustrates the benefits of constructing a hypernetwork sample by using a sample of already recruited panelists for whom information has already been collected. We find Stage 1 nonrespondents tend to be from rural areas and not from the Midwest, compared to Stage 1 respondents. Results also suggest that the impact of subsequent survey reminders on key Stage 1 estimates decreased after the third reminder during Stage 1 fielding. Additionally, we find that Stage 1 nonresponse impacts the Stage 2 estimates for congregational characteristics. Specifically, the congregations nominated by Stage 1 late respondents tend to have the following characteristics: located in the South, predominantly African American, more likely to be conservative/evangelical Protestant or black Protestant, younger, urban or suburban, helped people register to vote, less likely to have a school, and have fewer child participants. Post-survey weighting adjustment of the Stage 1 sample decreased the risk for nonresponse bias in the Stage 1 hypernetwork sample and in the Stage 2 sample of congregations.</p> Brad R. Fulton, Ipek Bilgen, Vicki Pineau, Lindsay Liebert, David P. King, Michael Dennis ##submission.copyrightStatement## Thu, 20 Oct 2022 00:00:00 +0000 Estimating Gender Wage Gap and Its Decomposition in Pakistan <p>This study estimates the gender wage gap in Pakistan by applying Nopo’s decomposition procedure. This technique is a non-parametric alternative to the Blinder-Oaxaca (B-O) technique of decomposition. It addresses the issue of gender wage gap in the common support and decomposes the total wage gap into four components. One of these components focuses on gender discrimination, while the other three explain individual characteristic differences. For this purpose, the study used Pakistan Social and Living Standard Measurement Survey data for the years 2013-14 and 2018-19. The results of the non-parametric procedure revealed that there was an 18.91% gender wage gap in Pakistan in 2013-14. This figure increased to 29.48% in 2018-19. Furthermore, the results of the decomposition technique showed that about 17.7% and 27.54% of the total wage gap was due to gender discrimination in the labor market in 2013-14 and 2018-19, respectively. In the same time periods, almost 2% was due to the differences in individual characteristics. The policy implication is that the government should chalk out and implement such policies that can decrease gender discrimination in the labor market.</p> Ahmed Raza Cheema, Adeel Saleem, Jabbar Ul Haq, Bazam Shehzadi ##submission.copyrightStatement## Sat, 08 Oct 2022 00:00:00 +0000