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A Conceptual Framework of the Retirement Savings Behavior among Civil Servants in Malaysia
Get PDFThe feasibility of maintaining a comfortable standard of living for civil servants in Malaysia is frequently questioned due to their reliance on pensions as the primary source of retirement funds, which may not suffice to cover the rising retirement costs. To address this issue, civil servants could consider accumulating savings during their working years instead of solely depending on pension disbursements. This academic discourse examines the effect of the independent variables of attitudes towards retirement savings (financial risk tolerance, past behaviours, and subjective norms as psychological elements) and financial considerations (tax incentives) on retirement savings behaviour. Additionally, the research also explores the moderating role of perceived government policy and perceived behavioural control with its antecedents, namely financial literacy, self-control between the independent variables, and retirement savings behaviour among civil servants in Malaysia. Drawing from the extended interactive theory of planned behaviour, amalgamated theories comprising the interactive theory of planned behaviour, rationale choice theory, and the behavioural economic model and existing literature, this article introduces a conceptual framework detailing the determinants influencing the RSB of civil servants in Malaysia. The proposed framework has the potential to benefit various stakeholders, particularly civil servants seeking to prepare adequately for their retirement years
An Integrated Circular Supply Chain Framework to Enhance Malaysian Business Performance
Get PDFBusinesses rely on supply chain management to suit the needs of global and multigenerational consumers. However, the current linear manufacturing and distribution supply chain strategy has been regarded as the source of dangerous waste generation, environmental deterioration, and the global warming phenomenon. In mitigating this issue, circular supply chain management, a practical integration model, is seen as the solution as it helps to reduce material flows and supply chain waste. Unfortunately, the fundamental mechanisms that can support its effective execution have not been comprehensively examined, hindering its complete incorporation into company strategy. Thus, to overcome this knowledge gap and improve organizational understanding, this study uses the systematic reviews and meta-analyses extension for scoping reviews (PRISMA-ScR) procedure to investigate the characteristics, enablers, and barriers of circular supply chain management. The study found five interconnected key structures: government, industry stakeholders, corporate management, end users, and financial institutions, all of which play important roles in the successful implementation of a circular supply chain strategy. As a result, close collaboration across the five identified stakeholders is essential to enable successful implementation. This study's objective is to the United Nations Sustainable Development Goals (SDGs) 8, 9, and 12, which aim to promote peace and prosperity for people and the planet both now and in the future
Social and Finance Security on Gig Workers’ Well-being with Occupational Satisfaction as an Intervening Variable
Get PDFThe rise in unemployment, digitization, and the flexibility of gig workers have propelled the growth of Malaysia's gig economy. However, the well-being and occupational satisfaction of gig workers can be impacted by social and financial security concerns. This study looks at the well-being of Malaysian gig workers through the role of occupational satisfaction as a mediator, while social and financial security as independent variables. The results of a structured survey administered between November 2023 and February 2024 to 135 gig workers indicate that the well-being of Malaysian gig workers is rather low. This study found that occupational satisfaction acted as a mediator in the relationship between social and financial security and gig workers' well-being. These results highlight how important it is to have both social and financial stability to enhance employee occupational satisfaction and thus, improve gig workers’ well-being
Analyzing the Impact of Financial Liberalisation on Malaysian Bank's Performance: Quantile Regression Analysis
Get PDFThis study employs quantile regression analysis to examine the impact of financial liberalization on the performance of Malaysian banks, focusing on how these effects vary across different performance levels. A liberalized banking sector prompted commercial banks to intensify risk-taking activities, which ultimately could affect the bank’s performance. Using quantile regression analysis, it shows that only the middle quantile indicates all the significant variables for both OLS and quantile analysis. This study found that lower-performing banks may face adverse effects, including increased risk and deteriorating performance, due to heightened financial liberalization. The findings highlight the differential impact of financial liberalization across the performance spectrum and suggest that while liberalization can drive economic growth targeted regulatory measures are necessary to support less and mitigate potential risks to overall financial stability in Malaysia
The Impact of Digital Economy and Net Export of Goods and Services Towards Employment in the Selected Southeast Asia Countries
Get PDFThe digital economy is rapidly growing and transforming the way people work and do business globally. This growth has a significant impact on employment in the Association of Southeast Asian Nations (ASEAN) countries. This study aimed to examine the impact of the digital economy and net export on employment in selected ASEAN members, Malaysia, Indonesia, Singapore, and Thailand. Sample years were extracted from 1991 to 2021 and the panel data regression method was applied in this study. The result of this study showed that the digital economy; fixed broadband subscription (LBROAD), internet users (LUSER), and net export (LEXP01) had a significant influence on employment (LTEMP)
Navigating the Social Shift: A Preliminary Study of Consumer Behavior on Malaysia's Social Commerce Platforms
Get PDFThe proliferation of online businesses coupled with the advancement of information and communication technologies (ICT) has led to the emergence of social commerce. The integration of social media platforms into e-commerce offers businesses a convenient avenue for engaging with consumers and a novel method for capturing additional sales volume. This seamless integration of social media platforms into current e-commerce practices has significantly increased its success. Research on the factors that affect purchase intentions in social commerce is still sparse, especially in the context of Malaysian consumers. In general, the causal model of purchase intentions on social commerce in this study aims to investigate the impact of the constructs of visibility and metavoicing on purchase intentions among Malaysian millennial consumers. Henceforth, this initial study specifically aims to evaluate the reliability and validity of the IT affordance constructs of visibility and metavoicing through rigorous assessments. At the items-construct level, the internal consistency assessment was conducted using McDonald’s Omega, which is known for its robustness in measuring the reliability of multi-item constructs. At the construct level, discriminant validity and the strength of linear relationships among variables were assessed using Pearson correlation analysis. The pilot dataset gathered was analyzed with SPSS 29, and the results have validated that the predictive model achieved high levels of reliability and validity at both the item and construct levels. Furthermore, the analysis revealed that the independent variables, metavoicing and visibility, have a significant association with purchase intentions, underscoring their importance in understanding consumer behavior
The Impact of Consumer Ethics on Intention to Purchase Counterfeit Fashion Products
Get PDFThe issue of counterfeiting has long plagued many industries including fashion, automotive, electronics, and pharmaceutical. Companies face various challenges when it comes to dealing with the issue of counterfeiting, which results in financial implications, loss of brand reputation, and many more. From a consumer perspective, counterfeit is the cheaper option in a market where consumers are spoilt for choice. Advancements in technology have helped manufacturers of counterfeit to increase the similarity and to a certain extent the quality of their products to their genuine counterparts. Thus, the demand for counterfeit products in general kept rising over the years. This research looks at the influence of perceived behavioral control and consumer ethics in influencing consumer intention to purchase counterfeit fashion products. A partial least squares (PLS) approach to structural equation modeling (SEM) was used to analyze the data. Findings showed that there is a negative relationship between perceived behavioral control and intention and a positive relationship between consumer ethics and intention
Reflections of Economic Shocks and Price of Crude Oil on Gold Price Volatility within Asian Nations
Get PDFThe focus of this study is to examine the effects of economic shocks along with the crude oil price on gold prices in Asian countries. This study utilizes a regression analysis to measure the relationship between the macroeconomic indicators, crude oil price, and gold price in six selected nations from 1990 until 2022. The validity of the data was diagnostically checked by performing a VIF procedure, autocorrelation test, and normality test on residual, and data were analyzed via EViews software. The analysis showed mixed findings, however, a major variable that positively affects the fluctuation of the gold price is “the crude oil price” and it reflects global economic stability in the six countries. A sudden rise in crude oil prices might trigger conflicts in oil-exporting countries and limit access to material sources. This situation may force investors to move their funds into a safe-haven commodity like gold. The fluctuations in crude oil prices are not only a response to current market conditions but also alarming a lot more fundamental problems in an economy, which include approaching economic recessions, currency devaluation and a major financial crisis. For practical implications, this study suggests that policymakers pay extra attention to this commodity besides other economic indicators like inflation, interest and currency rates, and a GDP rate to ensure a sustainable economic condition. To the best of the authors’ knowledge, this study is the first that examines the economic shocks along with crude oil prices pre-and-post COVID-19 pandemic focusing on a few Asian countries
The Effect of Innovation and Renewable Energy on CO2 Emissions For Emerging Asian Countries
Get PDFThis study investigates the impact of innovation and renewable energy consumption on CO2 emissions in seven emerging Asian countries using static panel data methods. The analysis employs Pooled Ordinary Least Squares (OLS), Fixed Effect (FE), and Random Effect (RE) models to estimate the relationships, with the most appropriate model selected based on the Breusch-Pagan LM test and the Hausman test. Our findings reveal that both GDP and urbanization significantly increase CO2 emissions, while GDP squared and renewable energy consumption significantly decrease emissions, supporting the Environmental Kuznets Curve (EKC) hypothesis. Diagnostic tests indicate the presence of heteroskedasticity and first-order autocorrelation, addressed using robust standard errors. The results underscore the dual role of economic growth and technological advancement in shaping environmental outcomes, highlighting the critical importance of sustainable development policies in emerging economies
Promoting and ImprovinPromoting and Improving the Tourism Industry in Malaysia through Tourist Satisfactiong the Tourism Industry in Malaysia through Tourist Satisfaction
No full textTourism is an important sector that contributes to the countries’ economies. Tourism has a direct relationship with other industries such as hotels, transportation, and retail as tourists who come to the country will spend their money on these categories. During the COVID-19 pandemic, the tourism industry was badly affected and so did the other related industries. Now, people are back visiting attractive places, staying in hotels during their visits, and spending money on food and other items. However, little is known about why people are attracted to visit some places or countries and not others. The study is meant to investigate the factors that lead to tourist satisfaction when they visit a country. A total of 150 respondents answered the survey that was distributed to students, and public and private sector employees in Malaysia through an online platform. The results indicated that accommodation, tourism products and host attitudes were significant in leading to tourist satisfaction. While price was not a significant predictor of tourist satisfaction. The practical and theoretical implications of the study are discussed at length in this paper