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الحاج شیخ فیروز الدین جاپان والا

الحاج شیخ فیروز الدین جاپان والا
افسوس ہے پچھلے مہینے کی ۷؍تاریخ کوسہ پہر کے وقت محترم الحاج شیخ فیروز الدین صاحب جاپان والے ہمیشہ کے لیے رخصت ہوگئے۔مرحوم دہلی کی پنجابی برادری کی بزرگ ترین شخصیت تھے۔ابھی اپریل کے شروع میں کلکتہ جانا ہوا تھا تو معمول کے مطابق ان سے تقریباً روزانہ ہی ملاقات ہوتی تھی ۔کولوٹولہ نمبر ۸۰ بلڈنگ کابڑاحصہ پچھلے سال منہدم ہوگیاتھا، اس لیے اس مرتبہ قیام مدح ہاؤس ۱۶۔ذکریا اسٹریٹ میں ہوا اورمیزبان حاجی قاسم جادوت صاحب تھے۔
کولوٹولہ نمبر ۸۰ کی نسبت سے یہ مکان فاصلے پرہے شیخ صاحب یا پیادہ چل کریہاں تشریف لاتے تھے اوردیرتک بیٹھتے تھے۔بُڑھاپے کی وجہ سے قدرتی طور پر ناتواں تھے لیکن ان کی صحت کی عام رفتار کودیکھ کرکہیں دوردور بھی یہ خیال نہیں ہوتا تھاکہ اس قدر جلد دنیا سے جارہے ہیں۔
آخری ملاقات ۱۸؍ اپریل کی صبح کوہوئی تھی، حسبِ معمول بہت سی باتیں ہوئیں خاص طور پر انسانی اعمال اوران کے نتائج پردل پذیر گفتگو رہی۔مرحوم اس فلسفے پر بھرپور یقین رکھتے تھے کہ انسان جوکچھ کرتاہے اس دنیا میں کسی نہ کسی رنگ میں اس کا بدل ضرورسامنے آتا ہے، وہ مکافاتِ عمل کے اس پہلو پرزیادہ زور دیتے تھے اورباربار کہا کرتے تھے کہ قانونِ مکافات کوصرف آخرت پر چھوڑ کر بے فکر نہ ہوجانا چاہیے۔ان کی باتیں دل چسپ اوراثر انگیز ہواکرتی تھیں۔مجھ سے بے تکلف تھے اس لیے زیادہ کھل کرباتیں کیاکرتے تھے اور قلندرانہ انداز میں کیاکرتے تھے۔ اس روز دورانِ گفتگو مشہور عالم، محدث اورصوفی شیخ عبدالوہاب شعرانی ؒ کے واقعہ کاذکر آگیا جس کوسن کر دیرتک سردھنتے رہے۔میں نے کہاکہ شیخ نے لکھا ہے کہ جس روز میری بیوی ……اکھڑے اکھڑے تلخ وترش لہجے میں مجھ سے بات کرتی ہے تو سمجھ جاتاہوں کہ میں نے ضرور کوئی ایسا عمل کیاہے جس کا...

The Indian Muslims’ Services to Afghanistan & Turkey (1901-1929)

The Paper attempts to highlight the most significant Muslim personalities of British India who rendered services and sacrifices for the cause of pan-Islamism. They travelled to the neighbouring Muslim states of Afghanistan and Turkey for the larger cause of the Muslim brotherhood, and their freedom from the colonial powers. Their visits were either in official or unofficial capacity. The personalities include; Abdur Rahman Peshawari, Zafar Hasan Aibak, Mualana Ubaidullah Sindhi. The paper argues that these personalities have visited the Muslim countries of Afghanistan and Turkey in order to support the cause of Muslim brotherhood and their peace, development, and freedom. Their way of support was in the form of diplomatic negotiation. Descriptive and analytical methods were followed for analyzation/interpretation of data collected.

The Impact of Behavioral Factors on Investment Decision and Performance: Exploring Multiple Mediation Mechanisms

Behavioral finance is the new-fangled discipline of research in finance. Behavioural finance examines individual investors and market behavior through application of psychology. It addresses the question that how investors behave in the market rather than how they should behave. To address this question, behavioral finance relaxes the assumptions of standard finance and claims the efficient market hypothesis. Behavioral finance also identifies the stock market anomalies that serve as the cornerstone for allowing the market to deviate from the efficient market hypothesis. The market is a combination of buyers and sellers. Therefore, investors‘ behavior is the key notion to generate anomalies in the stock exchange that deviates the market from efficient market hypothesis and makes market inefficient. Asian markets and it‘s individual investors are irrational in contrast to other regions. Therefore, it is necessary to investigate the investors‘ behavior and their performance regarding risk, return, and satisfaction. Subsequently, this study proposed two models in this dissertation named model 1 (heuristics) and model 2 (Prospects) and Chapter 5 entails the results of both these models. The primary objective of this dissertation is to investigate the investor‘s behavior toward their investment performance about stock market anomalies. This current research centers on applying the multi-mediation model in the context of behavioral finance. Hence, the major problem addressed in this study is ―How appropriate is the multi mediation hypotheses model for measuring individual investors‘ investment performance while using stock market anomalies‖? Previous studies have examined the direct impact of behavioral factors on the investment performance of individuals. In contrast, this study examines mediated links through fundamental, technical, and calendar stock market anomalies. Findings rely on data collected through surveys and obtained 324 responses. Confirmatory factor analysis was applied to analyze the collected data. Results show that two mechanisms, fundamental anomalies and calendar anomalies mediate the heuristics–investment performance link, and technical anomalies are not significant mediators of impact on investment performance of individuals. Of the four heuristics components, Availability and representativeness are the strongest predictor of investment performance, followed by fundamental anomalies. Overconfidence is a strong predictor of investment performance of individuals followed by calendar anomalies. Furthermore, the findings imply that two processes, Fundamental and calendar anomalies mediate four prospect dimensions-investment performance link. Among four dimensions of prospect regret aversion and self-control is the strongest predictor of investment performance followed by calendar anomalies. Regret aversion is also strongest predictor of investment x performance via fundamental anomalies. Practical implications are discussed separately in the analysis. This study concludes that anomalies and investors‘ behavior plays a key role in the investment decisions if they use the heuristics and prospects within pertinent bounds. A unique conclusion is that multi mediation analysis can reveal the detailed nature of regular patterns rooted in behavioral finance. Thus, a multi mediations model can be used for future research to investigate the investors‘ behavior and market anomalies. However, it will not be used to measure the traditional finance hypotheses.
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Asian Research Index Whatsapp Chanel

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