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Mata, P. N., Ali, S., Lucas, J. L., Martins, J. N., & Zafar, M. (2023). Cross-Sectional ARDL Analysis to Access the Impact of Stressful Living Environment and Extreme Weather Events on Youth’s Education. Economies, 11(6), 1-12. [170]. https://doi.org/10.3390/economies11060170 This study’s primary objective is to investigate the impact of stressful living environments and extreme weather conditions on youth’s education. For the fulfillment of this objective, the unique and latest methodology, such as second-generation unit root, cross-sectional ARDL, and the Westerlund approach are used on panel data taken from India and Pakistan. The cross-sectional dependency test is also employed to determine the internal correlations between cross-sections. The results indicate that there are long- as well as short-run relationships between variables. This study helps to develop policies to manage natural disasters, as well as provide the theoretical background to reduce the stressful living environment. publishersversion published

Mata, M. N., Oladipupo, S. D., Husam, R., Ferrão, J. A., Altuntaş, M., Martins, J. N., Kirikkaleli, D., Dantas, R. M., & Lourenço, A. M. (2021). Another look into the relationship between economic growth, carbon emissions, agriculture and urbanization in thailand: A frequency domain analysis. Energies, 14(16), [5132]. https://doi.org/10.3390/en14165132 This empirical study assesses the effect of CO2 emissions, urbanization, energy consumption, and agriculture on Thailand’s economic growth using a dataset between 1970 and 2018. The ARDL and the frequency domain causality (FDC) approaches were applied to assess these interconnections. The outcome of the bounds test suggested a long-term association among the variables of investigation. The ARDL outcomes reveal that urbanization, agriculture, energy consumption, and CO2 emissions positively trigger Thailand’s economic growth. Additionally, the frequency domain causality test was used to detect a causal connection between the series. The main benefit of this technique is that it can detect a causal connection between series at different frequencies. To the understanding of the authors, this is the first study in the case of Thailand that will apply the FDC approach to capture the causal linkage between GDP and the regressors. The outcomes of the causality test suggested that CO2 emissions, urbanization, energy consumption, and agriculture can predict Thailand’s economic growth in the long term. These outcomes have far-reaching implications for economic performance and Thailand’s macroeconomic indicators. publishersversion published

Bhutta, U., Martins, J. N., Mata, M. N., Raza, A., Dantas, R. M., Correia, A. B., & Rafiq, M. (2021). Intellectual structure and evolution of accounting conservatism research: Past trends and future research suggestions. International Journal of Financial Studies, 9(3), 1-23. [35]. https://doi.org/10.3390/ijfs9030035 Accounting conservatism (AC) is one of the components of financial reporting, and has been widely studied by academicians to identify its impact on information quality. Scholars in accounting have started to explore how AC is related to different fundamental functional areas of organizations. The interest of the scholars has resulted in an increasing number of publications in this field. In this study, we examined 408 indexed publications related to AC. This work’s objectives include analyzing the regional distribution, size, and evolution of this knowledge base by identifying key authors, documents, and journals while exploring current literature, scholarly structure, and highlighting contemporary trends. The findings of the study concluded that most of the studies are conducted in developed nations contexts. However, there are still areas that need further exploration to obtain more profound insights on the subject. This bibliometric review inspires a new generation of researchers on the topic by giving them an overview of the past studies related to AC. publishersversion published

Sindhu, M. I., Mata, M. N., Naveed, M., Mata, P. N., Martins, J. N., Correia, A. B., & Rita, J. X. (2021). Implications Of Corporate Social Responsibility On Credit Rating: A Context Of Developing Economy. Academy of Strategic Management Journal, 20(SI 2), 1-11. This study wants to explore the implications of corporate social responsibility on credit system rating in non-financial corporations of a developing country. Ordered probit regression model has been implementing for data analysis for a sample period of 2013-2019. This data analysis distributed in three phases, overall analysis, initial and ending analysis because of data availability. Firstly, descriptive statistics showed normality of data and correlation statistics indicated a relationship between corporate social responsibilities as independent variable, credit rating and a group of control variables. In all three phases, corporate social responsibility is significantly and positively contributing to the systematic determination of credit rating of organizations and control variables are showing some deviating results. These significant positive results of CSR on credit ratings suggest that by increasing a firm’s credit rating, investment in CSR activities is likely to increase the firm value and shareholders’ value. Credit rating agencies tend to grant moderately high appraisals to firms who appreciate the great social performance. Discoveries of this study will help administrators and also financial specialists to better comprehend the impact of CSR using a loan evaluations and credit ratings. publishersversion published

Khan, K. I., Qadeer, F., Mata, M. N., Chavaglia Neto, J., Sabir, Q. U. A., Martins, J. N., & Filipe, J. A. (2021). Core predictors of debt specialization: A new insight to optimal capital structure. Mathematics, 9(9), 1-25. [975]. https://doi.org/10.3390/math9090975 Debt structure composition is an essential topic of discussion for the management of capital structure decisions. Researchers made extensive efforts to understand the criteria for selecting debts, specifically, to know about the reasons for debt specialization, concealed in identifying its predictors. This question is essential not only for establishing the field of debt structure but also for the financial managers to design corporate financial strategy in a way that leads to attaining an optimal debt structure. Sophisticated financial modeling is applied to identify the core predictors of debt specialization, influencing the strategic choices of optimal debt structure to address this issue. Data were collected from 419 non-financial companies listed at the Karachi Stock Exchange from 2009 to 2015. This study has validated debt specialization by showing that short-term debts maintain their position over the years and remain the most popular type of loan among Pakistani firms. Further, it provides a comprehensive view of the cross-sectional differences among the firms involved in debt specialization by applying a holistic approach. Results show that small, growing, dividend-paying companies, having high expense and risk ratios, followed the debt specialization strategy. This strategy enables firms to reduce their agency conflicts, transaction costs, information asymmetry, risk management and building up their good market reputation. Conclusively, we have identified the gross profit margin, long-term debt to asset ratio, firm size, age, asset tangibility, and long-term industry debt to asset ratio as reliable and core predictors of debt specialization for sustainable business growth. publishersversion published

Idrees, U., Aftab, H., Qureshi, H. A., Mata, M. N., Martins, J. M., Mata, P. N., & Martins, J. N. (2021). The effect of corporate philanthropy on consumer behavior: Open innovation in the operating mechanism. Journal of Open Innovation: Technology, Market, and Complexity, 7(1), 1-13. [100]. https://doi.org/10.3390/JOITMC7010100 The aim of this study was to highlight the effect of corporate philanthropy (CP) on consumer patronage behavior. For this purpose, reciprocity was taken as the key mechanism which determines consumers’ willingness to participate in and buy goods or services of a company performing philanthropic activities. The moderating effect of trust and vicarious licensing was also studied. Considering the importance of CP to society and its residents, it is essential to recognize its effect on consumer patronage behavior. To accomplish this objective, data were collected from 340 respondents via a questionnaire. The results of this research revealed that reciprocity shows a statistically significantly positive association with both participation intention (R = 0.729, R2 = 0.531, p = 0.000, b = 0.740) and purchasing intention (R = 0.71, R2 = 0.534, p = 0.000, b = 0.878). Similarly, trust strengthens the relationship of reciprocity with both participation intention (b = 0.250) and purchasing intention (b = 0.310). However, vicarious licensing weakens the relationship of reciprocity with both participation intention (b = −0.175) and purchasing intention (b = −0.187). The mediation effect of participation intention was also examined in this study. The results of this research will contribute to the benefit of society, since philanthropy plays a vital role in society’s progress. The greater response of consumers towards companies performing philanthropic activities justifies the importance of CP. publishersversion published

Stock markets play a vital role in stimulating economic processes and development through diversification opportunities. Nowadays, purchasing financial instruments, especially stocks during this fluctuating market, is a back-breaker task for investors because of many sector specifications like Food, Auto Assembling, Fertilizer and Textile, etc. This study learns obstruction within the selection of sector and firms for investment to create an efficient portfolio in Pakistan because of the softness of data and miscommunication of economic performance, and plenty of economic models. Thirty-five sectors and five hundred plus companies are registered in the Pakistan Stock exchange, considering the volatile and high-risk market. This study has used a Multi-Criteria Decision-Making (MCDM) strategy by using Multi-Objective Optimization on the idea of Ratio Analysis to seek out the most effective sector and company's financial performance based on the criteria. A review of literature indicates that these methods have not been applied earlier for selection stocks in Pakistan stock exchange. After finding the most effective and efficient performing sector and companies, made portfolio in custody with the most effective two sectors and made hybrid portfolio of those best sector using same criteria and each portfolio is consisted on less then and equal to ten company securities. Results indicate that best optimal portfolio is supported to investor requirements, value of the corporate, return of those companies and prices are top prioritized factor taken during this study. The findings are useful for each new investor and also for financial organization. publishersversion published