UNIMAS Journal (Universiti Malaysia Sarawak)
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HALAL COSMETICS INDUSTRY FOR SUSTAINABLE DEVELOPMENT: A SYSTEMATIC LITERATURE REVIEW
Get PDFIn 2019, Muslim expenditure on halal cosmetics reached USD66 billion globally and projected to attain USD75 billion in 2024 (GIER 2020/21) thus representing a substantial and sustainable opportunity for nations seeking economic security. Many halal cosmetics SMEs have venture into this emerging sector, but not all were successful. Halal cosmetics sector is still in its infancy thereby few literature reviews have been conducted worldwide to evaluate research gaps in the halal cosmetics and skincare business domain. The present study integrated multiple methods analysis and the publication standard ROSES (RepOrting standards for Systematic Evidence Syntheses). This study used bibliographic databases namely Scopus, ScienceDirect, Google Scholar and Springer Link. Only 31 articles from 761, met the criteria and were studied, revealing five main themes that were subdivided into 19 sub-themes. The outcome of this systematic review process enables identification of existing knowledge breach in the field, serves as the basis for conducting future research on halal cosmetics and skin care in a systematic manner, and paves the way towards doing further research to assist policy makers and business sectors to close the apparent gap. This understanding will enable emerging nations to achieve sustainable development goals through halal cosmetics industry
DETERMINANTS OF BEHAVIOR INTENTION TO ADOPT PEER-TO-PEER LENDING SERVICES AMONG INDONESIA MSMES
Get PDFAn alternative for Micro Small and Medium-Sized Enterprises (MSMEs) against the barriers of financial inclusion is peer-to-peer (P2P) lending services. Despite its effectiveness in advancing financial inclusion, the factors that influence its adoption among MSMEs are unique. The purpose of this study is to analyze the factors influencing the intention of Indonesia MSMEs to adopt P2P lending services using the unified theory of acceptance and use of technology (UTAUT) 2 model. The results of this study show that five variables significantly affect MSMEs including performance expectancy, social influence, price value hedonic motivation, and effort expectancy. Meanwhile, the result shows that the factors of facilitating conditions and habits were not significant. This study contributes a reflective insight on the determinants of the P2P lending adoption among MSMEs in a developing country
PREDICTING INDIVIDUAL INVESTOR’S INTENTION TO INVEST: A COMPARISON BETWEEN ACTUAL AND PERCEIVED FINANCIAL KNOWLEDGE
Get PDFThis paper aimed to empirically check and evaluate statistically significant differences in structural relationships of actual and perceived financial knowledge, risk tolerance, and risky investment intention, via in total of 995 questionnaires sent to a sample group of the informal laborers in southern Thailand. Partial least squares structural equation modelling was used to analyze the results. It is worth noting that even though both actual and perceived financial knowledge affected each individual’s risk tolerance, still perceived knowledge affected more the individual’s risk tolerance. The actual and perceived financial knowledge that the individuals possess would enable them to make sound investments. Our study added the multi-group analyses in order to investigate if gender affected each individual’s decision-making on investment. The results revealed that in the case of men, both actual and perceived financial knowledge positively correlated with risky investment intention, whereas in the case of women only actual financial knowledge did. The key point from our study indicated that confidence or self-perceived knowledge was a significant factor affecting individual decision-making on investments. Hence, the educators and policymakers should provide effective lessons on financial knowledge by creating actual knowledge in order to help avoid overconfidence
THE EFFECTIVENESS OF DEBT RULE ON FISCAL SUSTAINABILITY: DO MACROECONOMIC DATA MATTER?
Get PDFThe effectiveness of the debt rule to achieve a certain level of public debt and debt sustainability targets is one of the fiscal sustainability discussed in the literature. The current study attempts to estimate the impact of the debt rule on fiscal sustainability indicators for 77 countries during 1985 - 2018. There are two existing indicators are widely utilized cover primary gap and recursive algorithm. To deal with the potential of a random walk of the variables, the two-step system generalized method of moment (GMM) estimator is employed. Specifically, the current study constructs a new fiscal sustainability indicator by incorporating financial technology (FinTech) using principal component analysis (PCA) for 67 countries in 2014 and 2017. The new indicator is the main contribution on the existing literature of fiscal sustainability. The findings reveal that the debt rule has a positive and significant impact on the primary gap, either in the short- or medium-term, implying that the debt rule is effective in encouraging fiscal sustainability. Conversely, it has a negative and significant impact on the recursive algorithm. Similarly, this rule significantly contributes on the new indicator by incorporating FinTech. Therefore, policymakers are challenged to conduct this rule as a key fiscal rule in fiscal sustainability policy. The policymakers should also take more attention to increase the level of FinTech to guarantee fiscally sustainable level
COMPARATIVE PERFORMANCE OF ARIMA, SARIMA AND GARCH MODELS IN MODELLING AND FORECASTING UNEMPLOYMENT AMONG ASEAN-5 COUNTRIES
Get PDFUnemployment, especially after the COVID-19 pandemic, is a critical issue for any country as it has economic and social ramifications. Consequently, forecasting unemployment becomes an essential task as it can guide government policy. Time series data are frequently influenced by outliers (unexpected events), and some outliers may exist with extreme observation to reduce the forecasting effectiveness of robust estimators. This study compared the performance of Autoregressive Integrated Moving Average (ARIMA), Seasonal Autoregressive Integrated Moving Average (SARIMA) and Generalised Autoregressive Conditional Heteroscedasticity (GARCH) models in modelling and forecasting unemployment rates during the COVID-19 pandemic among the ASEAN-5 countries. These countries include Malaysia, Singapore, Thailand, the Philippines and Indonesia. The monthly unemployment data from January 2010 to December 2021 were applied for all cases, except Thailand, until December 2020. Each adequate model from both forecasting mechanisms underwent forecasting. Their performance was compared based on root mean squared error (RMSE), mean absolute error (MAE), Theil inequality coefficient and symmetric mean absolute percentage error (SMAPE). Static forecasting from the ARIMA and SARIMA models was found to perform better than the GARCH model in modelling and forecasting the unemployment rate among ASEAN-5 countries during the pandemic period
EMERGING STOCK MARKET INTEGRATION: EVIDENCE FROM THE PRE- AND POST-FINANCIAL CRISIS OF 2007-2009
Get PDFWe investigate the interdependence between the US and seven emerging economy stock markets in Brazil, China, India, Malaysia, Mexico, Taiwan, and Thailand. Specifically, we examine how the 2007-2009 financial crisis influenced the dynamics of stock market integration between the US and seven emerging countries by analyzing the short-run and long-run effects of the crisis over pre-crisis (January 1995 to November 2007) and post-crisis (July 2009 to December 2018) periods. The results of Johansen co-integration tests confirm presence of co-integration in both sample periods. Short-run Vector Error Correction Model (VECM) results indicate a significant influence of the US market on the seven markets except for Brazilian and Chinese markets in the pre-crisis period. The pre-crisis long-run results demonstrate significant cointegrating relationships between the US market and the Indian, Malaysian, Mexican, and Thai markets. Only the Mexican market had the same cointegrating relationship with the US market in both periods. The insignificant pre-crisis period cointegrating relationships between the US and Brazilian, Chinese, and Taiwanese markets become significant post-crisis. Although the Indian stock market was cointegrated with the US market in the pre-crisis period, the relationship is insignificant post-crisis. Overall, our findings confirm that the US and seven emerging economy equity markets exhibit some degree of short-run and long-run cointegration. We also find that a negative shock such as a financial crisis may significantly change co-movements among the stock markets. We contribute to the existing literature on financial market integration by examining recent data around the global financial crisis
THE INFLUENCE OF YOUTUBE ADVERTISING VALUE ON BRAND AWARENESS AND PURCHASE INTENTIONS OF VIETNAMESE CUSTOMERS
Get PDFYoutube advertising is gradually becoming a form of advertising that attracts many enterprises and customers. This research is based on a survey of 450 customers in Vietnam in two forms: direct distribution and collection at some colleges, some companies, some supermarkets and online survey via Google Docs tool in November, 2020 about factors that affecting advertising value on Youtube and the relationship between advertising value on Youtube, brand awareness and customer purchase intention. The results show that entertainment, informativeness, irritation and interactivity have a positive effect on advertising value on Youtube, in which entertainment has the most positive and strongest influence on advertising value on Youtube and irritation has a negative effect on advertising value on Youtube. The author also pointed out the relationship between advertising value on Youtube, brand awareness and Vietnamese customer purchase intention
EFFECTS OF INSTITUTIONAL PRESSURES, ORGANISATIONAL RESOURCES, AND CAPABILITIES ON ENVIRONMENTAL MANAGEMENT ACCOUNTING FOR SUSTAINABILITY COMPETITIVE ADVANTAGE
Get PDFThis study investigates the primary role of institutional pressure specifically (coercive, mimetic, and normative pressures) to implement environmental management accounting (EMA) among SMEs in Kenya, and how such influences are affected by organisational resources and capabilities, with a focus on the function of EMA, on sustainable competitive advantage (SCA). Using an online survey, random samples of 1,162 Kenyan manufacturing SMEs provided the data. The empirical findings indicate that normative and coercive forces have a substantial and direct relationship with EMA adoption. However, there was no correlation between mimetic pressure and the adoption of EMA. In addition, the results revealed that only environmental innovation capability positively and substantially mitigated the effect of coercive and normative pressure on EMA adoption. Our PLS analysis discovered a significant and direct relationship between EMA and SCA. In conclusion, the current research expands our understanding of how firms create EMA through the interaction of institutional forces (i.e., coercive and normative constraints) and environmental innovation potential. Furthermore, this study highlights the relevance and use of EMA in giving information to Kenyan SMEs to conduct superior SCA
DOES PERFORMANCE IMPROVE SUSTAINABILITY? EMPIRICAL RESEARCH ON INDONESIAN MSMEs
Get PDFMicro, Small, and Medium Enterprises (MSMEs) are business sectors known to play an essential role in the economic growth of a country, especially in Indonesia. In this context, the creative industry is one of the fastest-growing business sectors and the promotion of sustainable economic development is evident in the government's active support for improving the growth of MSMEs. Therefore, this study analyzes the impact of financial literacy and market orientation on the MSMEs performance and sustainability. The sample includes 95 respondents occupying the roles of owners or managers in the creative industry of Yogyakarta Province. The results show that financial literacy and market orientation positively impact performance and sustainability. The performance of MSMEs influences business sustainability but financial literacy has no significant impact. Therefore, the implications show the indispensable need for governmental assistance in improving the knowledge base of MSMEs owners concerning financial literacy and market orientation
EXPLORING THE DYNAMICS OF DEFENSE EXPENDITURE AND ECONOMIC DEVELOPMENT: A BIBLIOMETRIC ANALYSIS
Get PDFThis study used bibliometric analysis to derive meaningful insights from the literature related to the field of defense expenditure and economic development. The analysis covered 381 documents published across a range of journals from 1991–2021. The Scopus database and the bibliometric R package (R studio) were utilized to identify prominent journals, authors, countries, articles, and themes in the area under study. The study's findings revealed a noticeable increase in publications and citations over the years, indicating a positive yearly growth rate of 2.16%. Among the 161 journals examined, Defence and Peace Economics was found to be the most impactful, with 99 published articles, 1,743 citations, an h-index of 25, and a g-index of 34. Moreover, Dunne JP published the most papers, consistently remained the most cited author, and continued to be the most influential author, with an h-index of 12. The USA, China, and Greece produced the highest number of articles, while the collaborative networks of countries were divided into four major clusters, with researchers from the USA collaborating the most with researchers from other countries and the University of Cape Town and COMSATS Institute of Information Technology collaborating the most with other universities