Board of Governors Institute of Business and Technology ...ibtjbs.ilmauniversity.edu.pk/journal/jbs/4.2/title.pdf · Dr. Ishrat ul Ebad Khan Governor of Sindh Chairman Chancellor,

Board of GovernorsInstitute of Business and Technology (BIZTEK)

PatronDr. Ishrat ul Ebad Khan

Governor of Sindh

Chairman

Chancellor, BIZTEK

Rizwan MemonSecretary, Education Department

Government of Sindh

Justice Agha Rafique Ahmed KhanFederal Secretary Law & Justice Division

Shamim Ahmed ShamsiPresident

Karachi Chamber of Commerce and Industry

Air Commodore (R) Prof. Dr. Ijaz MalikVice Chancellor, Air University, Islamabad

M. Anwar Dawood

Adnan AbidCEO, Noman Abid & Company Limited

Col (R) Tahir HussainVice-chairman & Rector

ChairmanHEC

A. K. M. SaeedAdvisor, NACL (Holdings and Investment)

Noman Abid Lakhani

Volume 4, Number 2

Fall 2008

A Cointegration Analysis of Public Debt Service and GDP in IndonesiaMuhammad Cholifihani– 68-81

Is Mudaraba’a Lawful?Farooq Aziz, Noor Muhammad Jamali – 82-88

Education in Japan: The School as a Business, Teachers and Students as CommoditiesRab Paterson– 89-103

Exploring the Effects of Single vs. Multiple Products and Multiple Celebrity EndorsementsNam-Hyun Um– 104-114

Chinese Education Tradition-The Imperial Examination System In Feudal ChinaHe Gan– 115-133

AFTA: Effect on Malaysian EconomyKhurram Ghani, Yuserrie Zainuddin, Hassan Gholipour Fereidouni, Ali Ziaee– 134-141

Measurement and Investigation of Creation Shareholders' Wealth in Indian Car ManufacturerCompanies

Akbar Aminimehr, Badar Alam Iqbal– 142-156

Journal of Management and Social SciencesManaging Editor & PatronNoman Abid Lakhani

ChancellorInstitute of Business and Technology (BIZTEK)

Editor in ChiefCol (R) Tahir HussainVice-chairman & Rector

Institute of Business and Technology (BIZTEK)Editor

Riaz Ahmed Shaikh

BOARD OF EDITORS

Manager CirculationMujtaba Passwala

JMSS is published by the:

Editorial Assistant

Tariq Rashid Baig

Arsalan Mujahid GhouriUsman Ali Siddiqui

Associate EditorsNoor Ahmed Memon

Noor Zaman

Creative Graphic Designer

DM NaultMike o’ DONNELLRebecca L. SCHIFFShahzad AHMAD KHANRosalie Arcala HALLPark Gyun YEOLJoseph SOETERSAnik CHATTERJEEBadar Alam IQBALRavinder RENAMuhammad Aslam JAVEDMansoor-uz-Zafar DAWOODMashood Ahmad KHANMuhammad Ali SIDDIQUIFauzia Naeem KHANZareen ABBASSILina SHUJANoor Muhammad JAMALIFarooq AZIZIshaque ANSARISyed Jaffar AHMED

University of CalgaryUniversity of WestminsterHarvard Law SchoolNeurology and Sleep Consultant,PennsylvaniaUniversity of PhilippinesGyeongsang National UniversityNeatherland Defence AcademyPresidency CollageAligarh Muslim UniversityPNG University of TechnologyUniversity of DelhiKing Faisal UniversityLUMHSBIZTEKBIZTEKUniversity of SindhPAF– KIETUniversity of SindhFederal Urdu UniversityState Bank of PakistanUniversity of Karachi

Calgary, CanadaUnited KingdomUSAUSAPhilippinesKoreaBreda, NeatherlandKolkata, IndiaAligarh, IndiaPapua New GuineaDelhi, IndiaSaudi ArabJamshoro, PakistanKarachi, PakistanKarachi, PakistanJamshoro, PakistanKarachi, PakistanJamshoro, PakistanKarachi, PakistanKarachi, PakistanKarachi, Pakistan

Research AssociateNaveed -Ur-Rehman Khan

Institute of Business and Technology (BIZTEK)Main Ibrahim Hydri Road, Korangi Creek, Karachi-75190, Pakistan.

UAN : (92-21) 111-428-428, Fax : (92-21) 5092384, URL : www.biztek.edu.pkExecutive Development Center (City Campus)

Uzma Plaza, 1st, 2nd & 3rd Floor, Plot No. 20-A/1, Block-6, PECHS, Main Shahra-e-Faisal, KarachiPhone: 021-4301085-88, Fax: 021-4301089, URL: www.biztek.edu.pk

Clifton Campus:C-52 Block-2 Clifton, Karachi.Tel: 021- 5824791-93, Fax: 021- 5824794

Gulshan Campus:Opposite Samdhani Hospital Allama Shabbir Ahmed Usmani Road. Block2, Gulshan-e-Iqbal, Karachi.

Tel: 021- 4969984-7, Fax: 021- 4969988

Reference List and Citations: Authors are requested to follow the Chicago Style of Manual forreferring and citation. List references alphabetically by the author(s) last name and then by the year. Pleaserefer name of all the authors for collective work and avoid using et al . in lieu of authors' names. Donot use abbreviated name of journals and institutions. Clearly mention the web site(s) address(s) for thearticle, paper or report that is neither published nor accepted for publication.

INSTRUCTIONS TO AUTHORS

Author(s) are requested to please carefully read all the instructions before submitting a manuscript to theJournal of Management and Social Sciences (JMSS). Manuscripts not prepared as per below mentionedspecifications may be returned to the author(s) and may experience significant delays in review and timeto publication.

MANUSCRIPT SUBMISSION

Three hard copies of manuscripts of articles, comments, notes or book-reviews, should be submitted to

Tables and Figures: Figures, tables and boxes should be numbered consecutively in Arabic numeral,(e.g. Figure 1, Figure 2, and Table 1, Table 2, etc.). Do not draw colourful customized figures and graphs.Please avoid inserting figures and tables in the main text. Instead, in the space immediately after theparagraph in which the figure or table is first referenced, insert a text tag as: [Figure 1 here].

Soft copy of figures/graphs and tables should be accompanied with the soft copy of the manuscript inMicrosoft Excel or any other compatible format, in files separate from the text file(s).

Title Page: This includes the title of the article, complete name(s) of author(s), active email(s) andinstitutional affiliation(s) respectively. Acknowledgements or any other special note (if given) shouldalso be on this page.

General Format and Style: Manuscripts should be formed in double space, with 1.25-inch margins onall sides on A4 size page. The text as well as footnotes should be written in Times New Roman font ofsize 12 point. Do not use multiple columns. If you are using special characters or symbols, not availablein Microsoft Word, or Adobe Acrobat then please attach the true type font(s) files. The soft copy mustexactly match the hard copy.

One soft copy of the manuscript should also be received at [email protected],[email protected], [email protected] Manuscripts should be prepared in US Englishusing a word processing (preferably in MS Word) program and saved as a .doc or .rtf files. or pdf files.

Footnotes: All footnotes should be numbered in Arabic numeral, corresponding to numbers in the text,and placed at the bottom of the page rather than end of the manuscript.

soft copy in any standard spreadsheet format. If the manuscript is supported by any econometriccomputations or mathematical estimation then name the software with version and send the relevantestimation file and/or program routines.

Data and Programming Routines: Data used in the article should be separately provided alongwith the

The EditorJournal of Management and Social Sciences

Institute of Business and Technology (BIZTEK)Main Ibrahim Hydri Road, Korangi Creek

Karachi-75190 Pakistan

MANUSCRIPT SPECIFICATIONS

Abstract: All manuscripts should contain a well-summarized abstract of 100 to 200 words. This shouldbe a separate file on the soft copy and a separate page on the hard copy. The abstract should be relatedto the hypothesis and information being presented, as well as the conclusions and results of generalinterest.

Editorial ReviewsProduct Description

"Development" is one of the most ubiquitousyet least understood concepts of our age.It is something all governments claim to beengaged in and is considered desirable byscholars, activists, policymakers, andlaypeople alike. Yet it is also a highlycontested term. For some, development issimply a matter of economic growth. Othersmaintain that it must entail improving lifeexpectancy, literacy, education levels, andaccess to resources. Others yet, disillusionedby the results of development initiatives,have rejected development altogether,equating it with a self-serving aid industrythat entraps the poor in a vicious cycle ofdependency. Still, critics argue these "post-development" theorists merely replicateearlier doctrines of development and havethemselves become part of the problem theywish to transcend. This book, a collectionof works by scholars of development, examines the theory and practice ofdevelopment and its implications and varied meanings in Asian contexts. Itattempts to understand development both in its objective and constructivistsenses. That is, it examines how societies and nations have developed overtime and how leaders, experts and governments have attempted to shapethese same societies and nations. It also analyzes development in civil societyand how non-state actors have conceived, participated in and been affectedby the process. Has true development been occurring in Asia? Is it possibleto direct development? How are real people affected by development? Shouldthe concept of development be retained or discarded? These are a few keyquestions covered in this book.

Product Details• Paperback: 276 pages• Publisher: Brown Walker Press (December 15, 2008)• Language: English• ISBN-10: 1599424886• ISBN-13: 978-1599424880• Product Dimensions: 9 x 6 x 0.6 inches

Editorial ReviewsProduct Description

"Development" is one of the most ubiquitousyet least understood concepts of our age.It is something all governments claim to beengaged in and is considered desirable byscholars, activists, policymakers, andlaypeople alike. Yet it is also a highlycontested term. For some, development issimply a matter of economic growth. Othersmaintain that it must entail improving lifeexpectancy, literacy, education levels, andaccess to resources. Others yet, disillusionedby the results of development initiatives,have rejected development altogether,equating it with a self-serving aid industrythat entraps the poor in a vicious cycle ofdependency. Still, critics argue these "post-development" theorists merely replicateearlier doctrines of development and havethemselves become part of the problem theywish to transcend. This book, a collectionof works by scholars of development, examines the theory and practice ofdevelopment and its implications and varied meanings in Asian contexts. Itattempts to understand development both in its objective and constructivistsenses. That is, it examines how societies and nations have developed overtime and how leaders, experts and governments have attempted to shapethese same societies and nations. It also analyzes development in civil societyand how non-state actors have conceived, participated in and been affectedby the process. Has true development been occurring in Asia? Is it possibleto direct development? How are real people affected by development? Shouldthe concept of development be retained or discarded? These are a few keyquestions covered in this book.

Product Details• Paperback: 276 pages• Publisher: Brown Walker Press (December 15, 2008)• Language: English• ISBN-10: 1599424886• ISBN-13: 978-1599424880• Product Dimensions: 9 x 6 x 0.6 inches

1000500350250

Journal of Information and Communication Technology

Main Ibrahim Hydri Road, Korangi Creek, Karachi-75190UAN: 111-428-428, Fax: (92-21) 5092384

e-mail: [email protected] [email protected]

Main Campus

Uzma Plaza, 1st, 2nd & 3rd Floor, Plot No. 20-A/1, Block-6, PECHS, Main Shahra-e-Faisal, Karachi.Phone: 021-4301085-88, Fax: 021-4301089, e-mail: [email protected] URL: www.biztek.edu.pk

Executive Development Center (City Campus)

Clifton Campus:C-52 Block-2 Clifton, Karachi.Tel: 021- 5824791-93, Fax: 021- 5824794

Gulshan Campus:Opposite Samdhani Hospital Allama Shabbir Ahmed Usmani Road.

Block-2, Gulshan-e-Iqbal, Karachi.Tel: 021- 4969984-7, Fax: 021- 4969988

Main Ibrahim Hydri Road, Korangi Creek, Karachi-75190UAN: 111-428-428, Fax: (92-21) 5092384

e-mail: [email protected] [email protected]

Main Campus

Uzma Plaza, 1st, 2nd & 3rd Floor, Plot No. 20-A/1, Block-6, PECHS, Main Shahra-e-Faisal, KarachiPhone: 021-4301085-88, Fax: 021-4301089, e-mail: [email protected] URL: www.biztek.edu.pk

Executive Development Center (City Campus)

EconomicsManagementMarketing Finance

Human Resource

Information Technology TelecommunicationMISEducation

Media Sciences Social Sciences

Clifton Campus:C-52 Block-2 Clifton, Karachi.Tel: 021- 5824791-93, Fax: 021- 5824794

Gulshan Campus:Opposite Samdhani Hospital Allama Shabbir Ahmed Usmani Road.

Block-2, Gulshan-e-Iqbal, Karachi.Tel: 021- 4969984-7, Fax: 021- 4969988

MPhil / PhD

The candidates must haveMaster degree (or at leastminimum 6 years postmatriculation studies inrelevant field)

The Candidates must haveMPhile degree in the subject

Candidates must clear a teston international GRE pattern

Candidates who have passedHEC’s PhDentry test are alsoeligible

Approval of the proposal andits submission to BIZTEKBASR (Board of AdvancedStudies and Research)

Successful complet ioncompulsory course workprogram, spanned one year(three quarters).

Presentation of the proposalin seminar or workshop

Publication of two researcha r t i c l e s i n n a t i o n a l /international journal ofrelevant field.

Approval of the dissertationby two international referees.

Presentation and defence ofthe dissertation in a closedroom viva-voce examination.

Pre Admission to MPhil

Pre EnrolmentPre Qualification Research

Pre Admission to Ph.D

This vast world has shrunk into a small village. The Global Village! All barriershave been broken down. Worldwide accessibility has become as simple as talkingto your neighbor. Doing business across the world is as simple as logging on yourcomputer. The Internet Technology is not just for games, chatting and occasionalresearch anymore, now it is an essential part of everyday life of every one. A businesscannot flourish without becoming a global enterprise and becoming active part ofthe Global Village. Information and Communication Technology is the vehicleproviding the access to the Global Village.

The technology is changing very rapidly because of the advanced featuresof ICT, Al, Telecommunication, e-commerce, IS, Robotics, Cyber Security, Data Mining,Network Storage Technologies, Software and Hardware Technologies. Now a daysthe technology becomes obsolete in 12 to 18 months, thus it is imperative for us tokeep ourselves updated on the latest developments in ICT or become obsolete andbe left out into oblivion. Today the user and the student of ICT must be willing tolearn constantly to keep abreast with the technology growth.

JICT is an international Journal of Information and Communication Technology,published by BIZTEK on bi-annual basis. We welcome the submission of articlesfrom researchers, academicians and practitioners in the area of ICT. For instructionto submission of manuscripts, please see the title flap. The papers should be ofmoderate length for the sake of greater diversity. Please note that submissionsshould be original contributions and will go through a rigorous evaluation process.

JICT does not charge any fee for submitting, reviewing and/or posting manuscriptsbefore of after acceptance of the article.

Journal of Information and Communication TechnologyInstitute of Business & Technology - BIZTEK

Main Ibrahim Hydri Road, Korangi Creek, Karachi-75190, Pakistane-mail: [email protected], [email protected]

UAN: +(92 21) 111-428-428 Fax: +(92 21) 5092384

Uzma Plaza, 1st, 2nd & 3rd Floor, Plot No. 20-A/1, Block-6, PECHS, Main Shahra-e-Faisal, KarachiPhone: 021-4301085-88, Fax: 021-4301089, e-mail: [email protected] URL: www.biztek.edu.pk

Executive Development Center (City Campus)

Clifton Campus:C-52 Block-2 Clifton, Karachi.Tel: 021- 5824791-93, Fax: 021- 5824794

Gulshan Campus:Opposite Samdhani Hospital Allama Shabbir Ahmed Usmani Road. Block-2, Gulshan-e-Iqbal, Karachi.

Tel: 021- 4969984-7, Fax: 021- 4969988

The Journal of Management and Social Sciences (JMSS) is published bi-annually(Spring and Autumn) under the aegis of the Institute of Business and Technology(BIZTEK)-a non-profit academic institute, recognized by Higher Education Commission(Govt. of Pakistan) and legislated by Sindh Assembly through Act-II of 2004. It aimsto disseminate knowledge and brings forth the culture of research.

For the sake of said purpose, the JMSS is considerably subsidized not only for Pakistanisubscribers but also for the nationals of LDCs (least developed countries). LDCsinclude economies annually listed by the World Bank in World Development Indicators(WDI).

Institute of Business & Technology (Biztek)Main Ibrahim Hydri Road, Korangi Creek, Karachi-75190, Pakistan

UAN : (92-21) 111-428-428 Fax No : (92-21) 5092384E-mail : [email protected] Url : www.biztek.edu.pk