UNIMAS Journal (Universiti Malaysia Sarawak)
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Effect of Fundamental Factor Analysis on Blue Chip Stock Return In Malaysia After The Outbreak of Covid-19 Pandemic
Get PDFThis study examines the effects of fundamental factors on the returns of Malaysian blue-chip stocks following the outbreak of the COVID-19 pandemic. Using secondary data from 2020 to 2022, this research analyzes key financial ratios, including return on equity (ROE), price-to-book ratio (P/B), debt-to-equity ratio (D/E), price-to-earnings ratio (P/E), dividend payout ratio (DPR), and net profit margin (NPM), to determine their influence on stock returns. The dataset comprises panel data of 30 blue-chip companies, resulting in 90 observations. The analysis, conducted using EViews 12, reveals that ROE has a significant negative relationship with stock returns, while P/B and D/E have positive and significant relationships. In contrast, P/E, DPR, and NPM exhibit negative but insignificant relationships.
The findings suggest that P/B and D/E are critical factors for investors when evaluating blue-chip stocks, while ROE warrants cautious interpretation due to its inverse relationship with returns. However, the study is limited by its focus on fundamental analysis, excluding technical analysis, and its short time frame of three years. These limitations indicate the need for further research with broader datasets and alternative analytical approaches. The results have practical implications for investors, portfolio managers, and policymakers. Investors are encouraged to prioritize fundamental factors such as P/B and D/E when making investment decisions, while policymakers can leverage these insights to enhance regulatory frameworks supporting informed decision making in Malaysia's capital markets. This study contributes to the understanding of stock performance during a period of significant economic disruption and offers a foundation for future research in post-pandemic financial analysis
KNOWLEDGE AND COMPLIANCE: THE INCREASING INTENTION OF MSME’s HALAL CERTIFICATION IN INDONESIA
Get PDFThe obligation of halal certification has been promulgated since 2014. However, MSMEs that apply for halal certification are only 1%. This study aims to analyze the effects of knowledge and compliance on the intention of MSME’s halal certification in Indonesia. The study used a quantitative approach. The sample size was 100 respondents representing owners, managers, or leaders of MSMEs in several cities in Indonesia. Samples were taken by convenience sampling technique. Data processing using Smart-PLS. The results showed that knowledge had an insignificant positive effect on the intention to implement halal certification directly. However, mediated by compliance, knowledge significantly affects the intention to implement halal certification. Compliance increases the intention of MSMEs to implement halal certification in Indonesia. Compliance is a crucial factor in increasing the intention of MSMEs to implement halal certification both directly and in the role of mediators
THE ROLE OF PROFITABILITY AS A CHANNEL ON INFLUENCING THE EFFECT OF MACROECONOMICS ON STOCK RETURNS IN THE INDONESIAN STOCK EXCHANGE DURING THE COVID-19 PANDEMIC
Get PDFThe purpose of this study is to examine the factors that influenced stock returns during the COVID-19 pandemic in Indonesia, with profitability functioning as an intervening variable. It acts as a mediating variable, influencing how macroeconomic factors impact a company's stock returns. Companies with higher profitability can withstand macroeconomic impacts, leading to higher returns. It is crucial for a company to avoid rising stock returns and ensure stability. The population in this study is the consumer goods industry listed on the Indonesia Stock Exchange. The research sample consists of the consumer goods industry from 2020 to 2022.Sampling uses purposive sampling with data from 26 companies and 312 quarterly financial report data. Test the hypothesis using SmartPLS. The study reveals that exchange rates, interest rates, and inflation all negatively impact stock returns, with profitability acting as an intervening variable. Additionally, inflation also negatively impacts stock returns. This research implies that exchange rate stability is essential for companies carrying out export-import activities as a means of transaction in trade. The increase in interest rates encourages investors to continue investing in stocks because they are temporary and will return to their original level. Understanding the role of profitability in the relationship between macroeconomic factors and stock performance can help investors make more informed decisions
The Effects Of Foreign Ownership On Corporate Risk: Findings From Quantile Regression And FSQCA
Get PDFThe study investigates the correlation between foreign ownership and corporate risk at 147 listed firms in Vietnam from 2015 to 2019. Quantile regression and fuzzy-set Qualitative Comparative Analysis (fsQCA) technique method are applied to examine this relationship. Although the findings reveal that foreign ownership has an impact on corporate risk, the direction of this impact varies depending on the specific conditions. These empirical results have significant implications for firms in managing risks through effective policies related to foreign ownership. The findings will also enable foreign investors to assess the risk level of their investments when analyzing the current situation of a given firm, thereby adjusting their investment capital appropriately
Enhancing Meaningful Work The Roles Of Spiritual Leadership Intrinsic Motivation And Employees' Gender
Get PDFIn today's workplace, employees grapple with finding meaningful work amidst the complexities of a dynamic business landscape shaped by rapid technological advances, uncertainties, intensified customer demands, and the impacts of events like the COVID-19 pandemic. These challenges induce emotional and physical strains, leading to a sense of anomie, resulting in reduced productivity, performance, job satisfaction, and heightened turnover intentions. Holistic leadership is crucial to addressing these issues, focusing on enhancing intrinsic motivation and cultivating a deeper sense of meaningful work. Based on self-determination theory and spiritual leadership framework, this study suggests positive correlations between spiritual leadership and employees' perception of meaningful work, with intrinsic motivation partially mediating the relationship and gender moderating it. Findings from 448 employees in Kenyan commercial banks reveal intrinsic motivation partially mediates, and gender moderates, the relationship between spiritual leadership and employees' perception of meaningful work. The study's implications and recommendations for future research are provided
ENHANCING SHARIAH GOVERNANCE: THE KEY RISK INDICATORS FOR MANAGING SHARIAH NON-COMPLIANCE RISK IN ISLAMIC FINANCIAL INSTITUTIONS
Get PDFThe whole process of Shariah compliance in Islamic financial institutions (IFIs) needs adequate attention. This is because Shariah non-compliance risk (SNCR) may cause not only unrecognition of income, but also contribute to the implications on the existing risk profiles. The objective of this study is to propose selected key risk indicators (KRIs) for SNCR. At first, it is necessary to review the implications of SNCR on existing risk profiles in order to examine to what extent the relationship between risks may give some ideas in determining KRIs for SNCR. This study is conducted through a literature review of existing academic journals, related reports, and statutes. The methodology began with addressing the criteria for good KRIs for risks. This study suggests the selected KRIs for SNCR, in the level considered in a stress testing programme for Shariah risk management. This study also suggests several KRIs for SNCR such as number of new Shariah-related complaints and the amount of impure income as a percentage of total income. Overall, this study has several implications to the Islamic finance industry, and can be a reference for IFIs in structuring their own comprehensive risk management to enhance the effectiveness of the Shariah governance practice
THE ROLE OF POCKET MONEY IN THE FINANCIAL SOCIALIZATION OF YOUNG PEOPLE
Get PDFThe paper examines the role of pocket money in relation to both financial socialisation and financial literacy. The results based on academic and grey literature and on primary research shows that pocket money has a significant impact on the development of financial awareness. The main conclusion of our research is that financial socialisation can be understood along an eight-stage, pocket money-centred development model in which theoretical knowledge is complemented by practice according to the receptive capacity of children and young adults. The development model can also serve as a starting point for programmes to improve financial literacy and increase their effectiveness. However, for the completion of financial socialisation and financial inclusion, it is also necessary that the fees and costs applied in the financial system should not distort the socialisation process outlined in the developmental model - all financial services should be available free of charge to individuals up to the age of 24, without excessive risk-taking. This can be interpreted as an investment by financial system actors in financially aware customers
Stock Returns And Inflation In Fiji
Get PDFThe relationship between stock returns and inflation has important implications for monetary policy and stock market investment and has attracted growing attention from scholars over recent years. Despite this, the empirical evidence so far has been inconclusive. The main objective of this paper is to investigate the impact of inflation on stock returns in the developing stock market of Fiji. We examine the impact of inflation on stock market returns within the GARCH and EGARCH modelling framework using monthly data from 2000:02 to 2018:06 and find that inflation negatively affects stock market returns. Our results indicate the importance of ensuring price stability and suggest that stock market investment will not help hedge against inflation in Fiji. The results suggest that Fiji’s stock market is likely to react more negatively to inflation in response to countercyclical monetary policy and emphasize the significance of portfolio diversification
Comparative Study of Drying Methods on Seaweeds (Kappaphycus sp. and Padina sp.) Based on Their Phytochemical and Polysaccharaide Content Located in Sabah : Comparative study of drying methods on Seaweeds
No full textSeaweed, one of the marine resources is known for their precious active compound. The dehydration process is required before the ultilization of the seaweed. It helps to increase the shelf life and play a major role in the extraction of specific chemical components. This study was conducted to evaluate the effects of different drying treatments of two different seaweeds on its phytochemical contents and carrageenan properties. Seaweed used include edible seaweed which are Kappaphycus sp., and locally abundant seaweed Padina sp. Four (4) different drying methods used; namely sun-drying for five (5) days, air-drying for 14 days, freeze-drying for five (5) days, and oven drying with three different temperatures at 60 °C, 80 °C and 100 °C for six (6) h, respectively. The moisture content was measured, and air-dried seaweeds contain highest moisture content (19.32% - 16.21%). Methanol, MeOH was used as extraction solvent in the determination of phytochemicals content for total phenolic content (TPC) and total flavonoid content (TFC). Sodium hydroxide, was used to extract carrageenan from Kappaphycus sp., which was evaluated on their percentage yield. Oven dried at 100 °C extracts possessed lowest retention of phytochemicals content and carrageenan yield among all drying methods. This finding suggests that various drying methods applied significantly influenced the composition of seaweeds. Identifying the most effective post-harvest drying procedure for seaweed would be commercially advantageous
Evaluation of Euphrates River Water Quality on Phytoplankton Biodiversity in Ramadi, Iraq: Water Quality of Euphrates River
No full textWater quality deterioration is a major global issue due to population growth and rapid economic development, making healthy water essential for human societies' and ecosystems' sustainable development. Therefore, the current study aims to evaluate the quality of Euphrates River water through its chemical and physical parameters, as well as the distribution of the phytoplankton community. An environmental comparison was conducted between three stations in Ramadi city to assess the Euphrates River's water quality. The comparison was based on physicochemical and biological variables. Fifteen environmental parameters were measured: temperature, pH, electrical conductivity, dissolved oxygen, biochemical oxygen demand, total turbidity, total dissolved solids, alkalinity, bicarbonate, nitrate, sulfate, phosphate, calcium, magnesium, and chloride. The occurrence of seasonal phytoplankton communities was also examined, and the Palmer diversity index, water quality index, and Pearson correlation were calculated. Significant differences were found in the physical and chemical variables of the Euphrates water between studied stations, and in the biological diversity of phytoplankton. The highest average temperature was 26.5 °C at station 1, the highest average pH was 7.575 at station 3, and the electrical conductivity was high at both stations 1 and 3, reaching 810 µS/cm. The Biochemical Oxygen Demand (BOD) ranged from 1.375 to 1.675 mg/L, the lowest average total hardness was 304.5 mg/L at station 3 and the highest average was 310.75 mg/L at station 1. In addition, the study revealed a high diversity in phytoplankton species and groups. 45 genera of green algae were found at all stations, while only 4 genera of Euglenophyceae and Dinophyceae were found. The study confirmed that the quality of the Euphrates River's water is medium and is characterized by high contamination with organic materials, according to the pollution index for water. It was concluded that phytoplankton groups are a sensitive and useful indicator of waterway health