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Research Associate
Dr Muhammad Sadil Ali


PhD (Business Administration, Finance) 2023                                                

Allama Iqbal Open University (AIOU), Islamabad

Thesis Topic: An Empirical Study on Firms’ Ownership Structure and Growth: Evidence from selected South Asian Countries

(Under the Supervision of Prof Dr Syed Muhammad Amir Shah)


MS (Management Sciences, Finance) 2016

Capital University of Science and Technology (CUST), Islamabad

Thesis Topic: Impact of Institutional Ownership on Stock Liquidity: Evidence from Pakistan


Diploma (English Language) 2016

National University of Modern Languages (NUML), Islamabad

BBA (Finance) 2013                                                                                                 

Karakoram International University (KIU), Gilgit Baltistan



Research Associate (BPS-17) May 2023 to-date. Department of Commerce, Allama Iqbal Open University, Islamabad.

Research Associate (BPS-17) 2022 to 2023. Directorate of BASR, Allama Iqbal Open University, Islamabad.

Research Assistant (BPS-16) 2021 to 2022. Dean Office F/O Education, Allama Iqbal Open University, Islamabad.

Research Assistant (BPS-16) 2018 to 2020. Department of Statistics, Allama Iqbal Open University, Islamabad.

Trainee (Accounts and Finance) 2016 to 2017. Oil and Gas Development Company Limited (OGDCL), Islamabad.


  1. Ali, M. S., & Hashmi, S. H. (2018). Impact of Institutional Ownership on Stock liquidity: Evidence from Karachi Stock Exchange, Pakistan. Global Business Review19(4), 939-951.


  1. Ali, M. S., Ali, M. N., & Bagram, M. M. M. (2021). Financial Literacy and Financial Satisfaction: A Moderated Mediation Analysis of Self-Esteem and Financial Behavior. Journal of Independent Studies & Research: Management & Social Sciences & Economics19(1), 67-84.


  1. Ali, M. S., Riaz, L., & Anis, W. (2021). Comparative study on the impact of individual and institutional ownership on firm performance: Evidence from Pakistan Stock Exchange. Journal of Humanities, Social and Management Sciences (JHSMS)2(2), 150-167.


  1. Khan, M. M. S., Ali, M. S., Kamal, A., Shah, S.M.A., & Ullah, S. (2021). International Shocks and Monetary Policy in Pakistan: The Chinese EffectIndian Journal of Economics and Business20(3), 1725-1740.                                                                                                     


  1. Ali, M. S., & Marwat, I. U. K. (2021). Financial Literacy and Saving Behavior of Private Sector Employees in Pakistan: Examining the Mediating Role of Self-efficacy. Journal of Management Sciences8(2), 39-54.



  1. Anis, W., Imtiaz, I., Khan, M.A., Qamar, H., Khan, S. & Ali, M. S. (2021). Financial Literacy and Demographic Factors effect on Investor Preferences for Cash Dividend: A Comprehensive Study of Islamabad based Stock Exchange Investors. Indian Journal of Economics and Business20(2), 1461-1471.


  1. Tashfeen, R., Shah, S. M. A., Ali, M. S., & Anis, W. (2022). Impact of Foreign Direct Investment and Information Communication Technology on Economic Growth: An Empirical Analysis from Selected Developing Countries. Al-Qantara8(2), 201-212.


  1. Khan, M. M. S., Ali, M. S., Ijaz, F., & Kamal, A. (2022). Effectiveness of Islamic Microfinance Institutions Through Customer's Satisfaction in Pakistan. NICE Research Journal, 15(1), 1-14.


  1. Kamal, A., Ali, M. S., Ijaz, F., & Khan, M. M. S. (2022). Impact of Fintech on the Financial Stability of Banks: A Systematic Literature Review. Global Economics Review, 7(4), 33-40.


  1. Siddique, M. S., Qureshi, M. H., Sadiq, G. S., Ali, M. S., & Shah, I. U. (2022). Shariah Legitimacy of Islamic Letter of Credit and Shipping Guarantee Procedure adopted by Islamic Banks in Pakistan. Al-Qantara8(3), 96-107.


  1. Ali, M. S., & Shah, S. M. A. Foreign Ownership and Firm Growth: Evidence from Non-Financial Sector of Pakistan. Journal of Business and Management Research, 2(2), 54-70.


The Allama Iqbal Open University was established in May, 1974, with the main objectives of providing educational opportunities to masses and to those who cannot leave their homes and jobs. During all these past years, the University has more than fulfilled this promise.