Journal of Nusantara Studies (JONUS) (Journal of UniSZA - Universiti Sultan Zainal Abidin)
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MANAGERIAL ABILITIES AND FACTOR INVESTMENT STYLE PERFORMANCES OF MALAYSIAN MUTUAL FUND MANAGERS
Background and Purpose: Studies focusing on mutual fund managerial abilities and investment style strategies are still scarce in the literature. Thus, this study aims to provide new evidence and insights into the managerial abilities and investment style performances of Malaysian fund managers.
Methodology: A total of 444 Malaysian equity mutual funds (EMFs) were evaluated using Carhart’s model incorporated with Treynor-Mazuy (T-M) and Henriksson-Merton (H-M) market timing models for the study period, from January 1995 to December 2017.
Findings: Fund managers displayed superior stock selection skills with 32 percent and 43 percent of funds for T-M and H-M respectively, with perverse market timing ability which accounted for 39 percent and 42 percent of funds for T-M and H-M respectively. Perverse timing ability had reduced the superior stock-picking skills of fund managers. This suggests that the EMFs performance could further improve if respective fund managers perform better in market timing ability. The finding also indicates that size effect (SMB) and value effect (HML) play significant roles in investment style strategies, while results of momentum factor (WML) propose that Malaysian fund managers have followed the contrarian strategy.
Contributions: This study contributes in several ways especially in the literature of portfolio management as the evidence is obtained from the largest mutual funds sample size and the longest study period. Moreover, this study also used the highest frequency data to study the effects of market timing which were overlooked in previous studies.
Keywords: Adjusted carhart, Malaysian market, market timing, mutual fund, stock selection.
Cite as: Ling, P-S., & Abdul-Rahim, R. (2021). Managerial abilities and factor investment style performances of Malaysian mutual funds. Journal of Nusantara Studies, 6(1), 118-135. http://dx.doi.org/10.24200/jonus.vol6iss1pp118-13
THE CONTINUUM OF TERENGGANU DIALECT ALONG THE EAST COAST MALAYSIA: A GEOLINGUISTIC STUDY
Background and Purpose: One of the eminent Malay dialects on the east coast is the Terengganu dialect which is argued to have some linguistic peculiarities. The prominent characteristics are nasal modification, nasal deletion, fricative modification, liquid deletion and monophthongization. These dialectal features are very much different from the standard Malay.
Methodology: This research involved a fieldwork at 52 village points with the participation of 500 informants. They were interviewed and requested to fill in the questionnaires.
Findings: The findings prove that the Terengganu dialectal features are widely used and progressed to southward. Hence the distribution overtly formed a continuum of Terengganu dialect. Non-linguistic factors such as history, socioeconomics and topography also play essential roles in regulating the distribution of this dialect. Historically, Terengganu was regarded as the centre of civilization with the discovery of the inscription stone as early as 1303AD. Its sea served as the silk road for the Chinese merchants. In addition, Terengganu people were expert in making vessels and they are skillful sailors as well. Furthermore, the flatlands along the coast amplifies the movement and dissemination of this dialect.
Contributions: A geolinguistic study presented in this article provides some novel insights into how the Terengganu dialect dispersed, and the dialect continuum was formed using GIS technology.
Keywords: Dialect continuum, east-coast, geolinguistics, Terengganu dialect, topography.
Cite as: Jalaluddin, N. H., Wan Halim, W. A. A., & Saari, K. A. (2021). The continuum of Terengganu dialect along the east coast Malaysia: A geolinguistic study. Journal of Nusantara Studies, 6(1), 176-198. http://dx.doi.org/10.24200/jonus.vol6iss1pp176-19
RESILIENCE, PERCEIVED SOCIAL SUPPORT, AND LIFE SATISFACTION AMONG MALAYSIAN COLLEGE STUDENTS
Background and Purpose: Resilience is an essential element of life satisfaction. Individuals with high resilience are normally able to cope with a problem and find its solutions. Resilience is critical in helping students to achieve life satisfaction and good mental health. In addition, social support has been found as one of the good predictors in achieving life satisfaction. However, the underlying mechanism by which resilience is associated with life satisfaction has been under examined. The current study investigates the association between resilience and life satisfaction among Malaysian college students, focusing on social support as a factor mediating this association.
Methodology: A total of 491 students participated in this study. The data were collected using a set of questionnaires. The mediation model was tested using structural equational modelling.
Findings: Results showed that the total effects of resilience on life satisfaction were significant. Furthermore, social support mediated the influence of resilience on life satisfaction. Therefore, improving resilience and enhancing social support may increase Malaysian college students’ satisfaction in life.
Contributions: The present study has implications on enhancing life satisfaction among college students. Finally, the study highlights the importance of social support in the implementation of intervention programmes with the goal of enhancing life satisfaction.
Keywords: Social support, Malaysian, college students, life satisfaction, resilience
THE TURKISH AND AZERBAIJANI LAWS ON UNFAIR COMPETITION VIA STANDARDISED TERMS OF CONTRACT - ASSESSMENTS AND SUGGESTIONS
This paper presents a comparative analysis between Turkish and Azerbaijani law systems and it attempts to evaluate whether the usage of standardised terms of contract in a way that causes the infringement of the principle of good faith forming unfair competition. Standardised terms are pre-prepared without negotiating with the other contracting parties. The paper highlights that the two countries have strong connections, especially in economic and commercial terms which render even more important convergence of legal regulations. In this respect, upon examining the regulations on standardised terms and unfair competition and considering the fact that the two systems have similar approaches regarding standardised terms, the paper suggests that the usage of standardised terms in a manner that violates good faith should be qualified as unfair competition under Azerbaijani law in accordance with Article 55/1(f) of the Turkish Commercial Code. The paper assesses the issue in conjunction with the Turkish Commercial Code, Turkish Code of Obligations, the Civil Code of Azerbaijan (Mulki Mecelle) and Code on Unfair Competition. The scope of the protection that is envisaged in the relevant Turkish and Azerbaijani codes is studied from consumers’ and merchants’ aspects, respectively. The paper inter alia assesses that protecting all market participants is the most effective way to provide market balance. The paper aims to contribute to the improvement of the economic relations of Turkey and Azerbaijan via its suggestion on harmonising the two law systems in terms of unfair competition regulations.
Keywords: Banks, merchant-consumer, principle of good faith, standardised terms of contract, unfair competition.
Cite as: Gunay, E. D., & Gunay, G. E. (2021). The Turkish and Azerbaijani laws on unfair competition via standardised terms of contract – Assessments and suggestions. Journal of Nusantara Studies, 6(1), 309-322. http://dx.doi.org/10.24200/jonus.vol6iss1pp309-32
EXPLORING COUNSELLORS’ UNDERSTANDING AND PRACTICE OF MULTICULTURAL COUNSELLING IN MALAYSIA
Background and Purpose: In order to make counselling meaningful and culturally relevant, it is essential for counsellors to have a practical counselling model that is context-specific and matches the needs and values of the population of that specific culture. Hence, the present research aims to explore professional counsellors’ understanding and practice of multicultural counselling in Malaysia.
Methodology: This study adopted a complementarity mixed-method research design using both qualitative and quantitative approaches to gauge the different features of multicultural counselling competency.
Findings: Malaysian professional counsellors, as a group, perceived themselves to be multiculturally competent. The most challenging cases encountered by Malaysian counsellors were (a) counselling culturally challenging clients (i.e., culturally different clients), (b) counselling culturally challenging issues/problems (culturally sensitive and complicated issues/problems in Malaysia), and (c) managing personal challenges (dealing with personal cultural and social issues in counselling). Thematic analysis also revealed three emergent themes to describe how Malaysian counsellors engage with culture and diversity in counselling and these themes broadly resembled the three stages of the general counselling process: pre-counselling, during counselling and post-counselling.
Contributions: This research adds to the multicultural counselling literature by generating knowledge regarding the understanding and practice of multicultural counselling in the local socio-political context. Education and training organizations should recognize the critical importance of infusing multicultural counselling education into all subjects and training programs in counsellor education programs and training of novice counsellors in order for it to be seamlessly incorporated into counselling practice.
Keywords: Culture and diversity, Malaysian counselling, multicultural counselling competency, multicultural counselling practice, multicultural counselling understanding.
Cite as: Mohd Jaladin, R. A., Simmonds, J. G., Greenway, P., & Barkatsas, T. (2021). Exploring counsellors’ understanding and practice of multicultural counselling in Malaysia. Journal of Nusantara Studies, 6(1), 323-350. http://dx.doi.org/10.24200/jonus.vol6iss1pp323-35
TEACHER MANAGEMENT OF SELF-REGULATED LEARNING THROUGH ePORTFOLIO
Background and Purpose: Students’ ability to self-regulate their learning and to learn effectively are predictors of success. In developing and initiating Self-Regulated Learning (SRL), teachers play a significant role. Hence, this study aims at exploring teacher management of SRL in the ESL writing classroom using ePortfolio.
Methodology: This study adopts an interpretive paradigm with action research as its methodological approach. The data collection methods consisted of observation, documents, and interview. A total of one teacher and 16 of her students participated in this study. The data were analyzed thematically.
Findings: In using the ePortfolio, the teacher had managed to assist learners SRL development by employing several strategies. It was identified that the teacher used strategies such as setting the learning goals, sharing the criteria of success, questioning techniques, giving feedback, as well as allowing self-assessment activity to take place. These strategies were believed to promote the constructs of independent learning, autonomous learning, and assistance from a more capable peers particularly in learning ESL writing via ePortfolio. Also, a shift in a teacher’s role from being authoritative in the classroom to a facilitative role is deemed necessary in developing SRL among ESL writing students.
Contributions: The results from this study offer new insights into pedagogical strategies that could be considered for promoting SRL in language teaching and learning. An outcome of this research could serve as a guide for teachers in planning their pedagogical approach and to decide on suitable strategies to be employed for different types of learners. Also, the sharing of the teacher practices in this study would provide rooms for other researchers to further explore other possible strategies and ways for strengthening any weaknesses found in the practice.
Keywords: Self-regulated learning, ePortfolio, action research, autonomy, self-assessment.
Cite as: Segaran, M. K., & Hasim, Z. (2021). Teacher management of self-regulated learning through ePortfolio. Journal of Nusantara Studies, 6(1), 373-393. http://dx.doi.org/10.24200/jonus.vol6iss1pp373-39
THE USE OF JAPANESE LANGUAGE DIRECTIVE SPEECH ACTS BY MALAYSIAN TOUR GUIDES
Background and Purpose: Cultural collisions in tourism communication can elicit obstacles or failure to achieve communication goals in social interactions with people of different backgrounds. Communication between cultures can present misunderstandings, vague meanings and frustration due to the diverse social and cultural norms arising from various discourse systems. Among the several types of tourism communication, this study attempted to foreground delivering instructions, a frequently utilised speech act (SA) during tour sessions. More specifically, the study examined the use of SA in giving instructions, as expressed by tour guides throughout tour sessions. Delivering instructions is a straightforward mode of communication, even in intercultural contexts.
Methodology: This study adopted a qualitative research method by collecting data from audio and visual recordings, along with observational notes from interactions between tour guides and tourists particularly during the five Free Independent Travel (FIT) packages. Five Japanese-speaking Malaysian tour guides and 17 Japanese tourists (JTs) were recruited for this study. The categorisation of the Directive Speech Act (DSA) by Searle (1979) and the structure formation of SDA by Blum-Kulka (1989) were employed to analyse the subcategories of the directive.
Findings: Findings indicate that only three subcategories were used, namely the command, insist, and request. The findings also reveal alignment and adjustments to the expressions or utterances when giving instructions. With the aim of effective intercultural communication, the tour guides were identified as adapting to the tourist culture. The expression of instructions, even in an intercultural context, did not confer any contradiction of cultural norms and was unlikely to cause conflict between the tour guides and the JTs.
Contributions: This research is expected to serve as a foundation and reference for parties involved in the teaching and learning the Japanese language, especially in the expression of SA for tourism communication.
Keywords: Speech act, giving directive, Malaysian tourism, tourism communication, Malaysia tour guide
THE EFFECTS OF BLUE DOCUMENTARY ON VIEWERS’ PERCEPTIONS AND ATTITUDINAL CHANGE TOWARD MARINE LIFE CONSERVATION
Background and Purpose: This study aimed to examine the persuasive effects of a blue documentary (BD) representing marine life extinction on viewers’ perceptions and attitudes toward conservation.
Methodology: This study selected 36 participants using purposive sampling according to the characteristics of their location and age categories. A total of 72 semi-structured interviews were conducted in two stages—the pre- and post-viewing of the documentary. A documentary program of Lestari Ujana Marin (LUM) was the media text used in gathering the necessary data. The data were then perused qualitatively through the employment of thematic analysis.
Findings: The findings suggest that the participants’ perceptions and attitudes toward marine life conservation were more positive after being exposed to the documentary. The attitudinal changes have been sustainable and exhibited through the participants’ real actions supporting marine life conservation.
Contributions: This study paves the way for collaboration between experts in different fields, such as filmmakers, oceanologists, and non-governmental organizations, who are fundamentally concerned with disseminating knowledge about environmental conservation for the benefit of future generations.
Keywords: Media, blue documentary, persuasion, pro-conservation, marine life, young generation
THE PRESENCE AND INSINUATION OF SOCIAL CANCER AMONG SEA INDIGENOUS PEOPLE IN MALAYSIA
Background and Purpose: Disturbances that hinder community development affect social capital. I refer to such disturbances as social cancer. This article aims at explaining the existence of social cancers, their typologies, and implications for Sea Indigenous People’s community development through economic activities.
Methodology: This exploratory case study involved 12 Sea Indigenous People in Johor, Malaysia. Data obtained through interviews were analysed using a thematic approach.
Findings: The findings revealed four types of social cancer in the community’s economic activities: 1) jealousy, 2) prejudice, 3) slander, and 4) defamation. Those social cancers had direct impacts on community development, specifically forming sabotage actions, negligence in using community capital, reducing community cohesiveness, causing a decline in the production of social innovation, and the existence of a hanging community and the death of the community.
Contributions: This study calls for a self-realisation mechanism to be introduced to community members so that their capacity for social capital can be developed to overcome the social cancer.
Keywords: Community development, self-realisation mechanism, social cancer, social capital.
Cite as: Amir Zal, W. A. (2021). The presence and insinuation of social cancer among sea indigenous people in Malaysia. Journal of Nusantara Studies, 6(1), 73-94. http://dx.doi.org/10.24200/jonus.vol6iss1pp73-9
DICHOTOMY OF LANGUAGE & THOUGHT IN THE INTERPRETATION OF METAPHOR IN THE QURAN
Previous literature either deciphered the literary and rhetorical aspects of metaphor or focused on its conceptual basis in the interpretation of the Quran. No attempt has so far been made to harness the linguistic and conceptual metaphor approaches to provide a comprehensive interpretation of the metaphors in the Quran. This paper reviews the existing literature on the interpretation of metaphor in the Quran from different theoretical perspectives. The review reveals that the application of different theoretical approaches has led to the dissociation of language and thought in the interpretation of metaphors. The linguistic approaches miss the bulk of conventional metaphors, while the cognitive approaches ignore the linguistic aspects of metaphor. The findings also reveal that the linguistic studies of metaphor concern themselves with the rhetorical beauty of the Holy Quran, while the conceptual metaphor studies explore the generic categorization of concepts. This paper calls for a more elaborate mechanism, which can account for both the linguistic and conceptual aspects of metaphor, to fill the gap between the linguistic and conceptual knowledge in the existing literature for a comprehensive interpretation of metaphors in the Quran.
Keywords: Cognitive models, conceptual metaphor, lexical concept, linguistic metaphor, majaz, metaphor.
Cite as: Sardaraz, K., & Ali, R. (2021). Dichotomy of language & thought in the interpretation of metaphor in the Quran. Journal of Nusantara Studies, 6(1), 95-117. http://dx.doi.org/10.24200/jonus.vol6iss1pp95-11