Muhammad Mushafiq, Shamsa Khalid, Muhammad Khalid Sohail and Tayyebah Sehar
The main purpose of this study is to investigate the investment choices' relationship with cognitive abilities, risk aversion, risky investment intentions, subjective financial…
Abstract
Purpose
The main purpose of this study is to investigate the investment choices' relationship with cognitive abilities, risk aversion, risky investment intentions, subjective financial literacy and objective financial literacy.
Design/methodology/approach
To examine the relationship, two investment choices were given to 256 subjects from Pakistan. Questionnaire had total 20 questions for measuring five variables. To review this nexus, discriminant analysis was used as to explore the depth of the nexus that is the ability of the variables to predict the investment choices.
Findings
This study establishes the findings that Investment choices are guided by risk aversion, risky investment intentions, financial literacy (subjective and objective) and cognitive abilities. The risk aversion has negative relation to investment choices and other variables depict positive relationship to with investment choices.
Practical implications
This study provides a new and useful understanding into the existing literature on investment choices. The results are significant as the cognitive abilities show a positive contribution to the investment choices. This is point of significance as the portfolio managers and advisors would get help in regards of advising investments as they are aware what factors impact the investment choices.
Originality/value
This study is novel in its nature to evaluate investment choices using the cognitive ability alongside risk attitudes and financial literacy.
Details
Keywords
Syed Jalaluddin Haider and Khalid Mahmood
The aim of this study is to provide an insight to international readers into the perspective of doctoral level research in Pakistan. The factors which led to the start of this…
Abstract
Purpose
The aim of this study is to provide an insight to international readers into the perspective of doctoral level research in Pakistan. The factors which led to the start of this program and difficulties encountered in this regard at different universities are discussed.
Design/methodology/approach
The study is mainly based on review of the literature. Research theses approved at MPhil and PhD level are evaluated. Some information collected from Library and Information Science (LIS) schools through personal communication is also provided.
Findings
The problems that did not allow success in the doctoral programs in LIS were: lack of encouragement by seniors in a real sense; low esteem for indigenous PhD degree in the eyes of fellow professionals; little or no impact of early recipients of the degree on profession; and non‐availability of financial assistance to the prospective candidates. Of the findings mention is made of: no fixed criteria for admission; the research topics do not concern the problems; and absence of proper supervision/guidance resulting in poor quality of thesis in most cases. Suggestions include: formation of a high level committee comprising senior library educators under the Higher Education Commission to work out problems and streamline the process; maintenance of close links with library schools in other countries, particularly in the English speaking world, which are interested in global librarianship.
Originality/value
This paper is the only evaluation of postmaster level LIS education in Pakistan. The findings are useful for planners of LIS education at postmaster level in Pakistan as well as in other developing countries.