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Financial Leverage and Firms’ Performance: Empirical Investigation of KSE-100 Index Farhan Ahmed; Iqra Awais; Muhammad Kashif
ETIKONOMI Vol 17, No 1 (2018)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (284.164 KB) | DOI: 10.15408/etk.v17i1.6102

Abstract

Capital generation to fund everyday operations and long-term expansions is a constant concerning element in the corporate world. This study aims to investigate the optimal level of capital structure that firms can adopt to improve their financial performance given the industry dynamics and economic circumstances of the country. Using Hausman’s specification test, annual data for the period 2005 – 2014 of Karachi Stock Exchange (KSE) 100 index listed securities has been collected to analyze the impact of financial leverage on the firms’ performance. Return on assets, return on Equity, and TOBIN’s Q are the proxies of financial performance analyzed against financial leverage for the KSE 100 index listed firms. The finding of the paper indicates that capital structure, leverage, interest cover and sales growth as most significant variables impacting firms’ profitability.   DOI: 10.15408/etk.v17i1.6102
The Role of Metacognitive Scaffolding in Mathematical Communication on Mathematics Students Damar Rais; Yue Wen Yan; Muhammad Kashif
Journal of Multidisciplinary Science: MIKAILALSYS Vol 4 No 2 (2026): Journal of Multidisciplinary Science: MIKAILALSYS
Publisher : Darul Yasin Al Sys

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58578/mikailalsys.v4i2.10375

Abstract

Although written mathematical communication is central to students’ ability to express reasoning coherently, the role of metacognitive scaffolding in connecting internal thinking with external mathematical discourse remains insufficiently examined. This study investigates whether metacognitive scaffolding functions as a bridge between internal thought and external discourse in students’ written mathematical communication and whether initial metacognitive awareness moderates this effect. A quasi-experimental pretest–posttest control group design was employed with 72 mathematics education students. The experimental group received six sessions of metacognitive scaffolding through guided prompts, such as “What is your first step and why?” and “How does this step connect to the next?”, whereas the control group received conventional instruction without such prompts. Written mathematical communication was assessed using a validated test measuring structural coherence, including logical flow, mathematical language use, and step-linking. Metacognitive awareness was measured using an adapted Metacognitive Awareness Inventory questionnaire. The ANCOVA results revealed a significant and large effect of metacognitive scaffolding on structural coherence, ηp² = 0.292, p < .001, with the strongest effects observed in logical flow and step-linking. Metacognitive awareness also significantly moderated the intervention effect, B = -3.41, p = .009, indicating that students with lower initial metacognitive awareness benefited most from the intervention. Qualitative think-aloud protocols further showed that scaffolding activated internal discourse, promoted the use of logical connectors, and strengthened self-monitoring during written mathematical explanation. These findings contribute to commognitive theory by demonstrating that improving external mathematical communication can support internal cognitive processes. Practically, the study suggests that mathematics educators can integrate metacognitive prompts into worksheets to help students produce more coherent written explanations, particularly those with underdeveloped metacognitive skills.