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The concept of stock price crash probability has become popular in recent years. In Pakistan, being an emerging economy, this area needs to be explored yet. This research investigates the impact of internal and external predictors effecting stock price crash probability for the period of 2006-2021. Pooled OLS is utilized as a baseline regression with clustering at firm level to test the hypothesis. For robustness analysis, in order to capture issues of serial correlation and cross sectional dependency, FGLS and GMM regression techniques are employed. Furthermore, in this study theoretical arguments are built on the basis of bad news hoarding theory, agency theory and information asymmetry. The findings suggest that corporate tax avoidance has an insignificant relation with stock price crash probability. While, other predictors have an inverse relation with stock crash probability. The results are consistent while using FGLS technique however, GMM estimates exhibit corporate tax avoidance as a significant predictor. Overall, the outcomes support H2 and H3, while H1 is rejected particularly for market of Pakistan. This study attempts to assist investors, regulators and policymakers to timely predict the chances of a stock price and thus make corrective decisions to mitigate its chances. [ABSTRACT FROM AUTHOR]

The present study explores the impact of fossil fuel energy consumption, population growth, and renewable energy consumption on the climate change conditions in Pakistan. The study has utilized the symmetric and asymmetric ARDL techniques for estimation of coefficients. The length of data is from 1975-2020. The findings have shown diverse conclusion on account of the regressors in short and long run. As a policy recommendation, it is suggested that the renewable energy sources be used in order to have a better control over CO2 emission. [ABSTRACT FROM AUTHOR]

Purpose. To study CO2 emissions through the use of renewable energy (RE) in the countries of the South Asian Association for Regional Co-operation (SAARC) region (Bangladesh, Bhutan, Sri Lanka, India, Pakistan, Afghanistan, Nepal, and the Maldives) using the data between 2002 and 2020. Methodology. For the purpose of the study, panel estimation methods were employed including Pooled Mean Group (PMG), Mean Group (MG), and Dynamic Fixed-Effect (DFE). Findings. Hausman test confirms the efficiency of PMG estimation method compared to MG estimation method and DFE estimation method. The results of PMG indicate long-run relationships among the studied variables. Besides, the outcomes of PMG reveal the negative impact of RE on CO2 emissions in the long-run, while in the short-run, the study did not reveal the impact of RE on CO2 emissions. In the case of specific countries, the results show that RE features increased CO2 emissions in a country like Pakistan in the short-run, while RE decreases CO2 emissions in Bhutan, Nepal and Afghanistan in the short-run. Originality. The study found the impact of RE consumption on CO2 emissions in SAARS countries obtained for the first time in the terms of SAARS region. Practical value. The governments of the SAARC countries can use the results of the study attempting to decrease CO2 emissions. [ABSTRACT FROM AUTHOR]

According to economists, rapid economic growth depends on the active energy system of any country. Through financial development, the latest trend of globalization applies pressure on energy consumption, which eventually validates growth in the economy. Therefore, the role of financial development and renewable energy consumption on economic growth is still being questioned. This paper contributes to this issue by raising concerns about the possible asymmetric links among financial development, renewable energy, and economic growth along with capital and labor. Applying a nonlinear autoregressive distributed lag model, our paper demonstrates that neglecting the involvement of nonlinearities leads to confusing conclusions. Results show that variables of interest have asymmetric impacts in short- and long-runs. Our analysis shows that short- and long-run impacts of renewable energy consumption and financial development on growth vary significantly. Notably, this study finds that renewable energy consumption has a positive and significant impact on economic growth in the short- and long-runs, and financial development has a strong, asymmetric, and positive effect on economic growth in the short and negative effects in long-run. The findings also have important implications for policymakers as well as investors in Pakistan's energy sector. [ABSTRACT FROM AUTHOR]

In the current study, we investigate the dynamic association of tourism, renewable energy, income, foreign direct investment (FDI), and carbon dioxide (CO2e) for Pakistan over 1990–2017. We established four plausible hypotheses and verified by employing the autoregressive distributed lags model and Granger causality based on vector error correction model (VECM). Considering the cointegration relationship between the variables, the outcomes of autoregressive distributed lags suggested that tourism increases economic growth, and economic growth induces tourism in the long-run, thus confirming tourism-led development, and growth-led tourism hypothesis; similarly, the tourism generates CO2e emissions, which supported the tourism-led emission hypothesis. The role of renewable energy consumption found to be a significant moderator, thus helping to enrich tourism, accelerating economic growth, and combating CO2e in the country. VECM causal results indicated the significant bidirectional causal linkages between tourism and economic growth—another causality found between tourism and CO2e. There is one-way causality from FDI and renewable energy towards income simultaneously. Overall, the designers of policies will find this study useful for policymaking at government levels for smooth economic growth, investment, and sustainable tourism sector. [ABSTRACT FROM AUTHOR]

This paper aims to empirically shed light on the pertinence of enhancing trade and foreign capital flows with relevance to stimulating greater use of renewable energy resources across selected South Asian economies namely Bangladesh, India, Pakistan and Sri Lanka. The economic transition from the use of non‐renewable energy tothe renewable alternatives is an interesting genre of research keeping the partial attainment of the United Nations' 2030 Sustainable Development Goals agenda into consideration. Against this milieu, trade and financial liberalization policies are anticipated to play a pivotal role in facilitating the renewable energy transition phenomenon across South Asia. The overall results from the econometric analyses imply that higher degrees of trade openness and greater foreign currency inflows can invariably play critically important roles in amplifying the shares of renewables in the total energy consumption levels across this region. Thus, these findings impose key policy implications for attainment of energy sustainability across South Asia. [ABSTRACT FROM AUTHOR]

To understand the nexus between economic growth and energy sources, in this study, we have selected Pakistan and collected data over the period 1980–2016. The neoclassical production function of Pakistan is augmented with conventional and renewable energy, capital, and labor. Conversely, the conventional and renewable models are being constructed by using GDP as an independent variable. This paper applied linear and nonlinear ARDL models to see whether the influence of conventional and renewable energy consumption on GDP per capita of Pakistan is symmetric or asymmetric and vice versa. Furthermore, the asymmetric causal effects between the energy variables and economic growth are also discussed. From the findings of the study, we deduce the long-run asymmetric effects of renewable energy on the economic growth of Pakistan. Similarly, the asymmetric effects of GDP, in the long run, are confirmed in both energy models. The symmetric and asymmetric causality results have recommended growth and conservation hypothesis. The findings propose that renewable energy is a significant factor in boosting the economic growth of Pakistan and a decline in the use of renewable energy could actually stem the economic growth of Pakistan. [ABSTRACT FROM AUTHOR]

The objective of this study is to explore the dynamic linkages between health expenditure, economic growth, CO2 emission, information and communication technology and renewable energy consumption in the case of Pakistan. To fulfill the study objective, a variety of econometric methods is employed over the period of 1995–2017. The results indicated the dynamic linkages among under-considered variables. The results established that economic growth and CO2 emission have a positive Impact on health expenditure, while information and communication technology and renewable energy consumption have a negative impact on health expenditure. Moreover, bidirectional Granger causality is confirmed between Health expenditure, economic growth, carbon dioxide emission, and information and communication technology. The unidirectional causality is running from renewable energy consumption to these variables. Short-run causality is running from renewable energy consumption to health expenditure and economic growth. Furthermore, short-run causality is running from information and communication technology to economic growth. Consequently, this study empirically contributed by confirming the critical role of information and communication technology and renewable energy consumption in reducing health expenditure. So, the policymakers should invest in information and communication technology and renewable energy projects to enhance air quality and provide a healthy environment to society. • This study established that ICT reduces health expenditure and CO2 emission. • Renewable energy consumption reduces health expenditure and CO2 emission. • CO2 emission and economic growth have a positive impact on health expenditure. • Health expenditure, CO2 emission, economic growth, and ICT have two-way causality. • Renewable energy causes health expenditure, CO2 emission, economic growth, and ICT. [ABSTRACT FROM AUTHOR]

The relationship between renewable energy consumption (REC), foreign direct investment (FDI) inflows, economic growth, and their resulting impact on CO2 emissions is widely discussed area in energy and environmental literature; however, there is an unseen literature on moderation and mediation effect of per capita income and FDI inflows with the renewable energy consumption on CO2 emissions in developing countries like Pakistan, which is being evaluated in this study by using a consistent time series data for a period of 1975-2016. The results show that economic growth and FDI inflows both increase CO2 emissions, while REC substantially decreases CO2 emissions during the study time period. The results do not support the inverted U-shaped Environmental Kuznets Curve (EKC) hypothesis for per capita income (and FDI inflows) and per capita CO2 emissions in a country. The results supported 'pollution haven hypothesis' where FDI inflows damage the natural flora of the country. By inclusion of moderation and mediation effect of per capita income and FDI inflows with the REC on CO2 emissions averted the positive impact of REC, and converted into negative externality, where environmental sustainability agenda is compromised by lower environmental regulations and unsustainable production techniques that increase country's economic growth. The study concludes that by adding REC in existing energy portfolio may help to reduce CO2 emissions while strict environmental compliance may disregard the negative externality of unsustainable production and it will support to achieve green development programmes in a country.