Research Associate
Dr Muhammad Sadil Ali
sadil.ali@aiou.edu.pk

Education

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

2

Experience

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.

Publications

I. INTERNATIONAL JOURNAL PUBLICATIONS  

  1. Ali, M. S., Shah, S. M. A., & Khan, M. H (2026). Managerial ownership and firm growth in South Asian Region: A moderated-moderation analysis using board gender diversity and masculine culture. Research in International Business and Finance. 90. 103524. Elsevier, SSCI, IF- 7.6 (W Category HEC)
  2. Ali, M. S., Shah, S. M. A., & Ali, M. N. (2026). Ownership Structure and Firm Growth: A Systematic Literature Review and Avenues for future research. International Journal of Management Studies, 33(1). ESCI (X Category HEC)
  3. Riaz, L., Qureshi, S. A., & *Ali, M. S. (2026). Mindful Investing: A Mediated Moderation Model of Personality Traits, Phantasy, and Investment Intentions among Institutional Investors in Pakistan. Interdisciplinary Journal of Management Studies. ESCI (X Category HEC)
  4. Ali, M. S., Riaz, A., & Shah, S. M. A. (2024). Financial Capability, Financial Well-Being, and Life Satisfaction of Women in an Emerging Economy. Journal of Financial Counseling and Planning, 35(4), 105-115. Springer ESCI, IF- 2.1, (X Category HEC)
  5. 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 Effect. Indian Journal of Economics and Business, 20(3), 1725-1740.            (X Category HEC)
  6. 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 Business, 20(2), 1461-1471. (X Category HEC)        
  7. Ali, M. S., & Hashmi, S. H. (2018). Impact of institutional ownership on stock liquidity: Evidence from Karachi Stock Exchange, Pakistan. Global Business Review, 19(4), 939-951. Sage. ESCI, Impact Factor 2.0 (X Category HEC)

II. NATIONAL JOURNAL PUBLICATIONS  

  1. Ali, M. S., Shah, S. M. A., Ali, M., & Nadeem, T. (2026). Enhancing Youth Financial Inclusion through Mobile Banking Adoption: The Moderating Role of Digital Literacy in Technology Acceptance. Pakistan Business Review, 28(1), 96-113. (Y Category HEC)
  2. Ali, M. S., Shah, S. M. A., & Ali, M. (2026). Impact of Managerial Ownership on Firm Growth: A Contemporary Panel Data Analysis of Pakistan's Non-Financial Sector. RADS Journal of Business Management, 8(1). (Y Category HEC)
  3. Ali, M. S., Shah, S. M. A., & Batool, A. (2025). An Empirical Analysis of Firms ‘ownership Structure and Growth: Evidence from Pakistan Stock Exchange. NUST Business Review, 7(2). (Y Category HEC)
  4. Ali, M., *Ali, M. S., & Shah, S. M. A. (2025). From Dormant Capital to Valuable Utility: A Case Study of Regional Campuses of the Allama Iqbal Open University. (2025). Qualitative Research Review Letter, 3(4), 272-298. DOI: https://qrrljournal.com/index.php/Journal/article/view/93 (Y Category HEC)
  5. Aziz, H., Shah, S. M. A. & Ali, M. S. (2025). Revisiting the Link between Financial Distress and Earnings Management: Evidence from Pakistan’s Textile Industry. Qualitative Research Review Letter, 3(4), 74-103. DOI: https://qrrljournal.com/index.php/Journal/article/view/82 (Y Category HEC)
  6. Ali, M. S., Ali, M., & Shah, S. M. A. (2025). The Nexus Between Institutional Investors and Firm Growth in Pakistan’s Non-Financial Sector: A Panel Data Analysis. Pakistan Research Journal of Social Sciences, 4(1), 148-162. (Y Category HEC)
  7. Ali, M., Ali, S., & Malik, N. (2025). Remittances and The Socio-Economic Developments in the Smaller Cities. Pakistan Social Sciences Review, 9(1), 784-796. (Y Category HEC)
  8. Javed, I., Shah, S. A., & Ali, M. S. (2024). Role of Political Connections in the Relationship of Corporate Governance and Financial Performance–Study of Banks in Pakistan. Journal of Business and Management Research, 3(1), 938-954. (Y Category HEC)                             
  9. Ali, M., Nadeem, T., & Ali, M. S. (2024). Analysis of Financial Performance of Islamic Mutual Funds & Islamic Pension Funds in Pakistan. Contemporary Issues in Social Sciences and Management Practices, 3(1), 105-115.       (Y Category HEC)   
  10. Ali, M. S., & Shah, S. M. A. (2023). Foreign Ownership and Firm Growth: Evidence from Non-Financial Sector of Pakistan. Journal of Business and Management Research, 2(2), 54-70. (Y Category HEC)
  11. 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. (Y Category HEC)       
  12. 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. (Y Category HEC)
  13. 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 & Economics, 19(1), 67-84. (Y Category HEC)
  14. 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. (Y Category HEC)       
  15. 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 Sciences, 8(2), 39-54. (Y Category HEC)                             

III. CONFERENCE PRESENTATIONS  

  1.  “Bridging the Digital Divide: Mobile Banking Adoption Intentions in Rural and Urban Areas of District Khushab—User Perception and the Role of Digital Literacy”. Presented at the 38th AGM & PSDE Conference, Marriott Hotel, Islamabad, April 15–17, 2025.
    Awarded Best Research Paper (PKR 300,000)
  2.  “The Nexus Between Institutional Investors and Firm Growth in Pakistan’s Non-Financial Sector: A Panel Data Analysis”. Presented at the 12th Applied Business Research Conference (ABRC), CUST, Islamabad, April 17, 2025.
  3.  “Impact of Managerial Ownership on Firm Growth: A Contemporary Panel Data Analysis of Pakistan’s Non-Financial Sector”. Presented at the 23rd International Research Conference (IRC’25), SZABIST, Islamabad, April 30, 2025.
  4.  “Digital Literacy and Mobile Banking Adoption: The Role of Perceived Ease of Use”. Paper to be presented at the 4th International Conference of Social Sciences on “Contemporary World: Challenges and Transformations, 2025”, Rawalpindi Women University, Rawalpindi, November 13, 2025.
  5.  “Governance and Human Resource Management as Catalysts for Institutional Performance: A Contemporary Analysis of Public Sector Universities in Pakistan”. Presented at the 3rd International Conference on Advancing Research in Social Sciences (ICARSS 2025), AIOU, Islamabad, November 17, 2025.
  6.  “Ownership Dynamics and Firm Growth: Evidence from the Pakistan Stock Exchange”. Paper to be presented at the 3rd International Conference on Advancing Research in Social Sciences (ICARSS 2025), AIOU, Islamabad, November 18, 2025.
  7.  “The Influence of Digital Literacy on Mobile Banking Adoption Through Perceived Usefulness: Implications for Urban Financial Inclusion and Innovation”. Presented at the International Conference on Real Estate (ICRE 2025), NUML, Islamabad, December 2-3, 2025.
  8.  “Enhancing Youth Financial Inclusion through Mobile Banking Adoption: The Moderating Role of Digital Literacy in Technology Acceptance”. Presented at the 9th International Conference on Islamic Banking & Finance, Institute of Business Management (IoBM), Karachi, Pakistan, November 18–20, 2025.
  9.  “Administrative Sciences in Practice: Governance, HRM, and Institutional Performance in Pakistan’s Higher Education Sector”. Presented at the 1st International Online Conference on Administrative Sciences (IOCAS), 4–5 February, 2026, MDPI: Basel, Switzerland. https://sciforum.net/paper/28607
  10. “The Dynamics of Manpower Export in Pakistan: Challenges, Reforms, and Global Prospects”. 39th AGM & PSDE Conference, PIDE, Islamabad, October 14–15, 2026.

About

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.