About Dr. Attaullah Shah

Post-Doc in Finance (2014) from University of Kentucky, USA.

PhD in Finance (2007-2010) from Muhammad Ali Jinnah University, Islamabad

MS in Finance (2004-2007) from Muhammad Ali Jinnah University, Islamabad

Master of Business Administration (2001-2003 major in Finance) Institute of Management Studies, UOP

B.com (1998-2000) from Gomal University D.I. Khan

D.com (1998) from Board of Technical Education Peshawar

S.S.C. (1996) from Board of Intermediate and Secondary Education Bannu

Microsoft Office Specialist Master [ see Certificate]

Distinctions

Best University Teacher Award 2014 conferred by the Higher Education Commission of Pakistan

HEC Approved Supervisor

Best Paper Award Received at INSPIRE International Conference 2014-Dubai

Nominated for HEC-best-University teachers from IMSciences in 2010

MS Degree with distinction

First Position in MBA with CGPA 4.00 on the scale of 4.00

First Position in B.com from Gomal University; Qualified for Gold Medal.

Second Position in D.com II from B.T.E. Peshawar.

Publications

Selected International Publications

8. Safiullah Khan, Attaullah Shah, Faisal Rizwan (2019), “Do Financing Constraints Matter for Technological and Non-technological Innovation? A (Re)examination of Developing Markets” Emerging Markets Finance and Trade,Vol. 57 No. 9, pp.2739-2766 [The Journal is listed in ISI Thompson Reuters JCR, impact factor = 4.0 (2022)] https://doi.org/10.1080/1540496X.2019.1695593
7. Attaullah Shah, Hamid Ali Shah, Joe Labianca, and Jason Smith (2017), “Judicial Efficiency and Capital Structure: An International Study” Journal of Corporate Finance, Vol. 44, pp. 255-274 [The Journal is listed in ISI Thompson Reuters JCR, impact factor = 6.1 (2022); ABDC ranking = A*] https://doi.org/10.1016/j.jcorpfin.2017.03.012
6. Imran Riaz Malik and Attaullah Shah (2017) “The Impact of SSFs on Market Efficiency and Volatility: A Dynamic CAPM Approach“, Emerging Markets Finance and Trade, Vol. 53 No. 2, pp. 339-356, [The Journal is listed in ISI Thompson Reuters JCR, impact factor = 4.0, recognized by the HEC in W-category] http://dx.doi.org/10.1080/1540496X.2016.1210507


5. Shah, H. A., & Shah, A. (2016). The relationship between judicial efficiency and corporate cash holdings: An international study. Economic Modelling, 59, 448-462. [The Journal is listed in ISI Thompson Reuters JCR, impact factor = 4.7 (, recognized by the HEC in W-category] https://doi.org/10.1016/j.econmod.2016.08.016

4. Kiran, F., Khan, N.U., and Shah, A. (2020) “The Herding Behavior on Pakistan Stock Exchange – Using Firm-Level Data” Afro-Asian Journal of Finance and Accounting. Vol.10, No. 1, pp.71-84 [Indexed in Scopus CiteScore = 1.80; ABDC ranking = B]

3. Naimat U.Khan, Qurat Ul Ain Shah Jehan and Attaullah Shah (2017), “Impact of taxation on dividend policy: Evidence from Pakistan” Research in International Business and Finance, Vol. 42, pp. 365-375 [Indexed in Scopus CiteScore = 1.80; ABDC ranking = B] http://www.sciencedirect.com/science/article/pii/S0275531917304610

2. Mohay Ud Din Shah and Attaullah Shah (2017), “Herding behavior in the Pakistan stock exchange: Some new insights” Research in International Business and Finance, Vol. 42, pp. 865-873 [Indexed in Scopus, CiteScore = 1.80; ABDC ranking = B]http://www.sciencedirect.com/science/article/pii/S0275531916303208
1. Ejaz Hussain and Attaullah Shah (2015) “Impact of Ownership Structure on Dividend Smoothing: A Comparison of Family and Non−Family Firms in Pakistan “, Afro-Asian Journal of Finance and Accounting, Vol. 5, No.4, pp. 356-377 [Indexed in Scopus; CiteScore = .34] http://dx.doi.org/10.1504/AAJFA.2015.073489

Selected papers published in HEC-recognized journals

X-category publications
21. Rahim, Imad; Shah, Attaullah (2019) Corporate Financing and Firm Efficiency: A Data Envelopment Analysis Approach The Pakistan Development Review Vol 58 No 1 1-25 [The Journal is recognized by the HEC in X-category]

 20. Imran Riaz Malik, Attaullah Shah, and Safiullah Khan (2019), “Gains and Costs Associated with Resumption of SSFS With Stringent Regulations: A Modified Approach” Pakistan Business Review Vol. 20, No. 4 pp. 953-970 [The Journal is recognized by the HEC in X-category]

 19. Razzaghian, Mariya., & Shah, Attaullah. (2018). An Assessment of the Predictors and Consequences of Workaholism using Hierarchical Models Business & Economic Review Vol 10 No 4 pp.1-26 [The Journal is recognized by the HEC in X-category]

 18. Jalal, Muhammad; Shah, Attaullah (2018) Contrarian and Momentum Investment Strategies in Pakistan Stock Exchange The Pakistan Development Review Vol 57 No 3 253-282 [The Journal is recognized by the HEC in X-category and indexed in Scopus]

 17. Shah, Attaullah, Khan, Khyber; Afraz, Muhammad (2018) The Relationship between Implied Cost of Equity and Corporate Life Cycle Stages South Asian Journal of Management Sciences, Vol 12 No 2 pp. 130-155 [The Journal is recognized by the HEC in X-category] http://sajms.iurc.edu.pk//issues/2018b/SAJMS2.pdf

 

16. Mohib Ullah and Attaulla Shah (2018), “The Role of Firm-Specific Variables in Explaining Heterogeneous Stock Market Reactions to Dividend Announcements” Pakistan Business Review Vol. 20, No. 1 pp. 31-46 [The Journal is recognized by the HEC in X-category] https://pbr.iobm.edu.pk/wp-content/uploads/2018/09/PBR-Vol-20-Issue-1-2018.pdf

 

15. Imran Riaz Malik and Attaulla Shah (2018), “Single Stock Futures and their Impact on Risk Characteristics of the Underlying Stocks: A Dynamic CAPM Approach” South Asian Journal of Management Sciences, Vol. 12. No 1, pp. 46-68 [The Journal is recognized by the HEC in X-category] http://sajms.iurc.edu.pk/issues/2018a/SAJMS3.pdf

 

14. Kamran and Attaullah Shah (2014) “The Impact of Corporate Governance and Ownership Structure on Earnings Management Practices: Evidence from Listed Companies in Pakistan”, The Lahore Journal of Economics, Vol. 19, No. 2, pp. 27-70 [Download] [Recognized by the HEC in X-category]

 13. Syed Hamid Ali Shah and Attaullah Shah (2017), “Short-Term Financing and Risk-Adjusted Profitability: Evidence From Pakistan” Pakistan Business Review, Vol. 19, No.3 pp. 723-743 [Recognized by the HEC in X-category]

 12. Muhammad Afraz and Attaullah Shah (2017), “What Explains the Declining Corporate Debt Maturity of Pakistani Firms? The Analysis of Demand and Supply-Side Factors” Abasyn Journal of Social Sciences, Vol. 10, No.1 pp. 61-85 [Recognized by the HEC in X-category]

 11. Ajid Ur Rehman and Attaullah Shah (2016) ” Lead-Lag Relationship and Directional Asymmetry in Stock Returns of Small and Large Portfolios: Evidence from Karachi Stock Exchange” Business Review. 11(2), 1-15. [Recognized by the HEC in X-category]

 10. Attaullah Shah and Zahoor Khan (2016) “Importance of Judicial Efficiency in Capital Structure Decisions of Small Firms: Evidence from Pakistan. Pakistan Development Review, Vol 55, No. 4, Part II, pp. 361-394. [Recognized by the HEC in X-category and Indexed in Scopus].

9. Afia Saleem and Attaullah Shah (2016) “Fouling Off the Curves: the Mediating Role ofResilience an Assault against Teachers’ Stress “, Pakistan Business Review, Vol. 17, No. 4, pp.1006-1022, [Recognized by the HEC in X-category]

 8. Nicole Rasool and Attaullah Shah (2015) “Evaluating the Impact of Human Resources on Firm Performance: A Literature Review” Journal of Behavioural Sciences, Vol. 25, No. 2, pp. 25-46 [Recognized by the HEC in X-category]

 7. Hamid Ullah and Attaullah Shah (2015), “Related Party Transactions and Corporate Governance Mechanisms: Evidence from Firms Listed On the Karachi Stock Exchange“, Pakistan Business Review, Vol. 17, No. 3, pp. 663-680 [Recognized by the HEC in X-category]

 

6. Hamid Ali Shah and Attaullah Shah (2015) “Can Momentum Portfolios Earn More in the Karachi Stock Exchange?”, Pakistan Business Review, Vol. 17, No. 1, pp. 80-98 [Recognized by the HEC in X-category]

 

5. Attaullah Shah and Jasir Ilyas (2014) “ Is Negative Profitability-Leverage Relationship the only Support for Pecking Order Theory in Pakistan, Pakistan Development Review, Vol 53, No. 1, pp. 33-55 [Recognized by the HEC in X-category]

 4. Fahad Abdullah, Attaullah Shah, and Saifullah Khan (2012). Firm Performance and the Nature of Agency Problems in Insiders-Controlled Firms: Evidence from Pakistan Pakistan Development Review Vol. 4, No. 51 pp:161-183 [CITE] [Recognized by the HEC in X-category]

 3. Attaullah Shah (2011). Impact of Judicial Efficiency on Debt-Maturity Structure: Evidence from Judicial Districts of Pakistan Pakistan Development Review Vol. 4, No. 50 pp:663-682 [Recognized by the HEC in X-category]

 2. Attaullah Shah and Shahid Ali Khan, (2009), “Empirical Investigation of Debt-Maturity Structure: Evidence From Pakistan” , Pakistan Development Review: Vol. 48, No.4, pp. 565-578 [Recognized by the HEC in X-category]

 1. Attaullah Shah and Syed Tahir Hijazi, (2004), “The Determinants of Capital Structure of Stock Exchange-Listed Non-Financial Firms in Pakistan”, Pakistan Development Review: Vol. 43, No. 4, pp. 605-618 [Recognized by the HEC in X-category]

 

Y-category publications

9. Imran Riaz Malik and Attaullah Shah (2016), “Resumption of Single Stock Futures (SSFs) with Stringent Regulations and their Impact on the Risk Characteristics of the Underlying Stocks, Business & Economic Review, 8(2), 12–32 [Recognized by the HEC in Y-category] dx

8. Shahnawaz Khan, Attaullah Shah, Salman Ahmad (2015), “The Role of Out-of-Class Communication in Instructor’s Verbal/Non-Verbal Behavior, Trust, and Student Motivation, Business & Economic Review, Vol. 6, No.1, pp:81-100 dx.doi.org/10.22547/BER/7.1.5
7. Imran Riaz Malik and Attaullah Shah (2014) “Investor Behavior and Future Markets: A Dynamic CAPM Augmented GJR-GARCH Process Approach with Non-normal Distributions”, Pakistan Journal of Applied Economics, Vol. 24, No. 2, pp. 121-142 [Download] [Recognized by the HEC in Y-category]
6. Hassan Sardar, Attaullah Shah and Naimat Ullah Khan (2015) “Conditional Relationship Between Beta And Stock Returns In The Karachi Stock Exchange“, Business Review, Under review
5. Ihsan Ullah and Attaullah Shah (2014), “The Effect of Capital Structure on Abnormal Stock Returns: Evidence from Pakistan“, Business & Economic Review, Vol. 6, No.1, pp:1-18 dx.doi.org/10.22547/BER/6.1.1
 

4. Alina Maqsood and Attaullah Shah (2014), ” Corporate Governance and Cash Holdings in Listed Non-Financial Firms in Pakistan ” Business Review, Vol.9 No.2, pp 48-72 [Download] [Recognized by the HEC in Y-category]

3. Imran Riaz Malik, Attaullah Shah, and Safiullah Khan (2013). Single Stock Futures Trading and Its Impact on Feedback Trading and Volatility: A Case Study of Pakistan, Forman Journal of Economic Studies Vol. 9, (January–December) pp. 81-106 [Download] [Recognized by the HEC in Y-category]
2. Hamidullah and Attaullah Shah. (2013). Lead-Lag Relationship in Spot and Future Market: Evidence from Pakistani Stock Market KSE-100 Index. Business Review, Vol 8: No 1. pp. 135-148 [Download] [Recognized by the HEC in Y-category]
1. Jabeen, Maryam. and Shah, Attaullah. (2013). “The Inter-Relationship between Initial Profits, Growth-Focused Firms, and Profit-Focused Firms: Evidence from KSE 100-Index Pakistan“. Pakistan Journal of Commerce and Social Sciences, Vol. 7 No. 3, pp.671-682 [Download] [Recognized by the HEC in Y-category]

 

Statistical Software Components

10. asdocx : An easy way of creating publication quality tables from Stata commands. To get it, visit this page

9. flexmat : Creates a flexible matrix of real, string and complex elements. To download, type

ssc install flexmat from the command line in Stata

8. fillmissing : Fills missing values in a variable based on a given criterion. To download, type
ssc install fillmissing from the command line in Stata

 

7. asreg: Rolling window regressions and by groups regressions (rolling betas). To download, type ssc install asreg from the command line in Stata

6. asdoc – asdoc: An easy way of creating publication quality tables from Stata commands. To download,type ssc install asdoc from the command line in Stata
5.astile: A fast and byable alternative for XTILE program of Stata. astile can be used for creating portfolios or percentile groups, for details and download, type ssc install astile from the command line in Stata
4. searchfor: A Stata Program module to search for texts in selected or all string variables. For details and download, type ssc install searchfor from the command line in Stata
3. ascol: A Stata Program for converting Stock Prices and Stock Returns from Daily to Weekly, Monthly, Quarterly, and Yearly Frequencies, for details and download, type ssc install ascol from the command line in Stata
2. asrol: A Stata Program for calculating rolling Window Statistics (2015), For details and download, type ssc install asrol from the command line in Stata
1. asm: A Stata Program for Constructing J-K Overlapping Momentum Portfolios (2014), Read here for more details

Research Conferences

15. Conditional Relationship Between Beta And Stock Returns In The Karachi Stock Exchange, Conference Paper: 7th Annual EuroMed Conference September 18-19, 2014 Kristiansand, Norway, September 19, 2014

14. Judicial Efficiency and Capital Structure Decisions. Perspective on Small Business Management and Entrepreneurship: INSPIRE International Conference: Duabi Feb 7-8, 2014.

13. Firm Performance and the Nature of Agency Problems in Insiders-Controlled Firms: Evidence from Pakistan, 28th Annual General Meeting and Conference of Pakistan Society of Development Economists, Isamabad, November 13-15, 2012

12. Lead-Lag Relationship and Directional Asymmetry in Stock Returns of Small and Large Portfolios: Evidence from the Karachi Stock Exchange, 4th South Asian International conference (SAICON-2012) Bhurban, December 05-07, 2012

11. Free Cash Flow, Ownership Structure & Firm Performance: Evidence from Pakistan, 4th South Asian International conference (SAICON-2012) Bhurban, December 05-07, 2012

10. Managerial Stock Ownership and the Maturity Structure of Corporate Debt: Empirical Evidence from Pakistan, 4th South Asian International conference (SAICON-2012) Bhurban, December 05-07, 2012

9. Corporate Ownership Structures and Dividend Announcement Effects: Evidence From Pakistan, Eurasia Business and Economics Society (EBES)-Istanbul, May 24-26, 2012

8. Impact of Judicial Efficiency on Debt-Maturity Structure: Evidence from Judicial Districts of Pakistan, 27th AGM Conference of the PSDE, Islamabad December 13-15, 2011

7. Are Large Industries Informationally Efficient? SIBR Conference, Bangkok Thailand (June 16-18, 2011)

6. The Relationship between Real Exchange Rate and Interest Rate Differentials, 4th Asia Pacific Business Research Conference (April 8-10 2011), Kula Lampur Malaysia

5. The Effect of Family Ownership on Firm Performance: Empirical Evidence from Pakistan. 14th Annual Business Research Conference (2011), Dubai UAE

4. Corporate Cash Holdings: Determinants and Implications, Second International Conference of AGBA-South Asia Chapter (2010). Islamabad, Pakistan

3. Simplicity Vs Accuracy: The Case of CAPM and Fama and French Model, Second International Conference of AGBA-South Asia Chapter (December 28-29, 2010). Islamabad, Pakistan

2. The Determinants of Capital Structure of Stock Exchange-Listed Non-Financial Firms in Pakistan, 20th PSDE Annual Conference January 10-12, 2005, Islamabad, Pakistan

1. The Empirical Investigation of Debt-Maturity Structure: Evidence from Pakistan, 25th PSDE AGM and Conference March 16-18, 2010, Islamabad, Pakistan.