FOUNDATION UNIVERSITY

DISSERTATION EVALUATION FORM

Foreign Evaluator Profile
Name with Academic Qualification Dr. Biagio Simonetti

Job Title/Designation Professor

Area of Specialization Finance
Name of University University of Sannio
Department in the University
Country Itally

Candidate’s Name Aftab Hussain Tabassam

Program Doctor of Philosophy in Management Sciences

Title of Dissertation Corporate Governance and Firm Performance:
Exploring the Mediating Role of Financial Slack
and Moderating Role of Earnings Quality
Attributes

Assessment of Dissertation
1. After examining the above mentioned dissertation, I hereby recommend as follows:
No. Recommendation Please tick
(√)
Yes No
a. The research fills a gap in the body of knowledge √
b. The research is an original contribution to the body of knowledge √
c. Library research carried out for the study meets the requirements √
d. Field research carried out for the study meets the requirements √
e. Data collection tools are technically sound √
f. Coherent descriptive analysis of data has been carried out √
g. Coherent inferences have been derived form the data analysis √
h. Objectives of the research have been achieved √
j. The overall presentation of research work is satisfactory √
k. The research work has been handled skillfully √

2. Based on the above evaluation, I hereby further recommend as follows:

Please tick (√)
(a) The candidate has ATTAINED sufficient academic merit for
the award of the degree without any amendments/corrections
to the thesis
(b) The candidate has ATTAINED sufficient academic merit for
√
the award of the degree subject to minor corrections to be
made to the thesis
(c) The candidate is required to undertake further work/major
corrections and to submit the thesis for RE-EXAMINATION

(d) The candidate has FAILED to attain sufficient academic merit

for the award of the degree
Detailed Dissertation Assessment
3. A detailed report on dissertation is enclosed.
Signature __________________________________ Date _02/06/2022____________

Official Stamp (if any)

_____________________________________________________

Corporate Governance and Firm Performance: Exploring the

Thesis titled”
Mediating Role of Financial Slack and Moderating Role of Earnings Quality
Attributes. Scholar has investigated the impact of corporate governance practices on corporate
performance by taking financial slack as a mediator and earning quality as a moderator. The study has used
a sample of unbalanced panel dataset of 222 Pakistani non-financial corporations listed on the Pakistan
Stock Exchange (PSX) for 2005-2019. Title of the thesis is from the area of finance in which strategic level
decisions and their impacts have been promulgated. Despite of many strengths of the
study, I have few reservations which if incorporated will enhance the academic worth of the dissertation.
And can be highlighted as follows: -

1- Abstract: - Abstract is too short and doesn’t have all ingredients which are required

according to international standards. So, I will suggest to augment the other relevant

ingredients to make the abstract according to international standards.

2- Introduction: -
Introduction: - Overall introduction is good but there are several strong statements without any

reference e.g “Corporate governance received considerable curiosity across the globe, primarily

due to the East Asian and South American financial breakdown and a succession of corporate

collapses in other innovative republics such as the United States. Hence, corporate governance

appears as a global phenomenon for both developed and developing economies, as the nations’

demand for resources is rapidly increasing.”, this is present in the very second line of first paragraph

of introduction. I will urge the scholar to use references for such strong statements or use word

of may be or might be.

Especially I am not agreed with first two paragraphs. I will suggest to rewrite them to build up the

background. I couldn’t find any specific problem statement in the problem statement section.

Research questions and objectives are not aligned. Significance of study is too vague, seems

student has just assumed the significance. I will suggest to rewrite it with concrete arguments. I

have very strong reservation on gap analysis. I will urge the scholar to find concrete gap with latest
 references to support your model. I am not convinced with the current gap analysis. It should be

justified either by future research directions in latest literature, CSO speeches, practical

requirements etc. I am also not convinced with the contributions scholar has assumed. Concrete

justification is required to claim such potential contributions. Theory and theorization are missing.

Scholar has not identified any overarching theory and is claiming for theoretical contribution. Why

is scope of study is mentioned at the end? Scholar seems too careless in writing the thesis.

1- Literature Review: - Overall it’s a good chapter but inclusion of latest references would make it

more appropriate. I will suggest to please add critical analysis of existing literature in it. In the past

few years corporate governance laws have been significantly changed, I would like the scholar to

add two or three pages at the end of the literature review mentioning the overall changes in

corporate governance code since its inception in Pakistan.

2- Conceptual model is there in the study, but theoretical model is missing.

3- Irrelevant information is presented in methodology chapter. I will suggest to be specific. It’s not a

book where you need to define the things. Be specific. At the end of methodology section do adda

table and present the formulas of all variables used.

4- In results section, Tables are not according to the standard format. Please correct them I also

noted that scholar is wondering around while writing this section. I will suggest to be under the

umbrella of objectives and hypothesis and then present the discussion. I have observed that

scholar is trying to fill the pages by adding irrelevant information. Relate your results objectives,

hypothesis and theoretical claims which you are highlighting in discussion.

5- Conclusion: - Once again conclusion is too general. Be specific. Implications should be with respect

to results analyzed in the study. What is the role of discussion in the conclusion section? Move

this part in data analysis and discussion.

6- Thesis needs serious proof reading. I will urge the student to get it proofread from a language

expert and attach the certificate with the thesis.

At the end, I will suggest that if above reservations are taken care off thesis qualify for the award of PhD
degree. I congratulate to the scholar and his supervisor.I wish the scholar best of luck.