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The purpose of this paper is to evaluate the degree to which Islamic banks in Pakistan use risk management practices (RMPs) and techniques in dealing with different types of risk.

A standardized questionnaire is used which covers six aspects: understanding risk and risk management (URM), risk assessment and analysis (RAA), risk identification (RI), risk monitoring (RM), credit risk analysis (CRA) and RMPs.

This study found that the Islamic banks are somewhat reasonably efficient in managing risk where URM, RM and CRM are the most influencing variables in RMPs.

The paper's findings are limited to the RMPs of Islamic banks in Pakistan.

This paper explores the RMPs of the Islamic banks in Pakistan. The results can be used as a valuable feedback for improvement of RMPs in the Islamic banks in Pakistan and will be of value to those people who are interested in the Islamic banking system.

This paper aims to investigate the impact of FDI on the stock market development in Pakistan, both aggregate as well as sector wise, the reason being that no such work has been carried out in this context.

The study is based on secondary data for the period 1985‐2011. Johansen co‐integration approach is used for determining relationship among variables for aggregate stock market development in long run. Granger causality test is also applied to check the causal relation between the variables. Correlation analysis and regression analysis has been used for examining the relationship of sector wise development, FDI and economic growth in Pakistan.

The results support the positive role of FDI in boosting the aggregate stock market development in long run. Bi‐directional causality between FDI and economic growth has been found along with the uni‐directional causality between aggregate stock market development and economic growth. For sector wise development the relationship of FDI is positive in the sectors where FDI concentration is high in recent years whereas and negative in other sectors.

Co‐integration coefficients showed a positive and statistically strong relationship between FDI and aggregate market capitalization thus reflecting the complementary role of FDI in the stock market development of Pakistan.

The purpose of this paper is two folds: first, to analyze the long-run relationship between terrorism and key macroeconomic indicators (GDP growth, GDP per capita, inflation and unemployment) and second, to determine the direction of causality between these variables in Pakistan.

The relationship between terrorism and various macroeconomic indicators is analyzed by applying Johansen cointegration analysis. Furthermore, the causality between terrorism and macroeconomic indicators is tested by applying Toda Yamamoto Granger causality test.

The results show that there exists a long-run relationship between terrorism and key macroeconomic indicators. Furthermore, the results suggest that there exists a bi-directional causality between terrorism and inflation. The causality between GDP per capita, unemployment, GDP growth and terrorism is unidirectional.

There is a lack of research work conducted to analyze the long-run relationship and direction of causation between terrorism and various macroeconomic indicators specifically for Pakistan. The current paper fills the gap in the literature by using sophisticated econometric techniques and recent data set to provide the evidence of the relationship between terrorism and various macroeconomic indicators.

The current research study aims to explore the rising appeal of creative industry for institutionally embedded women entrepreneurs of rural Khyber Pakhtunkhwa.

A qualitative research methodology is adopted to conduct the research study. Primary data is collected through in-depth interviews with 38 women entrepreneurs working in two sectors of creative industry in rural Khyber Pakhtunkhwa.

The research study explored creative industry as the most informal, non-traditional, low cost, flexible and convenient business sector for institutionally embedded Pukhtoon women entrepreneurs of rural KP.

The study draws the attention of policymakers and government to consider the informal norms in which women entrepreneurship is deeply embedded, while making entrepreneurship development policies and programs. The research study drives the attention of government toward making entrepreneurial education and training facilities easily available so that the skill and talent of women entrepreneurs can be more polished and enhanced. It further suggests that if the policymakers and Government of Pakistan take positive initiations and recognize the paramount importance, the creative industry of Pakistan has the potential of contributing toward uplifting of the economy.

The study helps in identifying the prevailing social and cultural norms in KP that shapes the choice of women entrepreneurs toward entrepreneurship in creative industry. It emphasizes to understand the reasons, for which women in KP, opt to open their entrepreneurial ventures in creative industry.