UNIMAS Journal (Universiti Malaysia Sarawak)
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Testing for Efficient Market Hypothesis on Malaysian’s Stock Market: Does Crisis Regime Matter?
Get PDFIn the context of the recent financial crisis, there has been growing questions about improving the efficiency of the stock market through liberalization. Although many researchers have studied the empirical effects of financial liberalization on stock market efficiency, consistent conclusions remain elusive. This paper aims to study the long and short-run relationship between financial liberalization and stock market efficiency before and after the global crisis strike in Malaysia. Specifically, Autoregressive Distributed Lag (ARDL) is the main econometric technique applied to explore this study. This study uses quarterly time series data over the period from 1998Q1 to 2020Q4. The findings revealed that financial openness and trade openness affect the stock market positively in the short and long term. In conclusion, these results indirectly support the efficient market hypothesis in Malaysia. Findings provide some policy implications in which the country should reinforce the prerequisites of openness to avoid the potential of initial crisis by equipping in an appropriate manner to minimize the short-term costs of liberalization to achieve long-term benefits
Entrepreneurial Intention to Business Start-Up: Evidence from Asia
Get PDFThe purpose of the study is to explore the relationships between perceptual variables and entrepreneurial intention among 13 Asian economies, and to depict the differences in the relationships among three types of Asian economies (factor-driven, efficiency-driven, and innovation-driven). Data were drawn from the 2015 Global Entrepreneurship Monitor Adult Population Survey (GEM APS) data set. Based on the cognitive theory, relevant research questions were developed, and the data were analysed through the logistic regression model. For the case of 13 Asian countries (full sample), except social status and respect, all perceptual variables are significantly related to entrepreneurial intention, and fear of fail found a negative and significant relationship. In sub-sample analysis, we have observed that regarding risk-taking, career choice, and social status, there are some significant differences among the three types of economies. The study contributes as the first attempt on Asian samples (full) from the GEM dataset and it is also the first attempt where three types of Asian economies were analysed
A Black Swan in Malaysian Chinese Family Business Succession: A Case Study
Get PDFThis article explores the impact of the highly improbable in a transgenerational succession of a Malaysian Chinese family business. Through an exploratory case study of succession in a Malaysian Chinese family business, a Black Swan in succession was identified, arising from unexpected changes in the business. Findings show that the predecessor did not expect his children; the successors, to take over the family business, as the successors were being groomed to pursue professional careers. Through an unexpected twist of events, the successors were able to take over and manage the family business, causing an impact to the future of this family business. This article demonstrates that the Black Swan theory may be applicable in the process of succession, causing a significant impact in a small Malaysian Chinese family business. This article is based on one case study. Hence, it should be noted that a case study should be judged based on transferability, not generalizability. This case study shows that a successful unexpected succession without any long-term preparation before a transition is possible. Education plays an important role in strengthening one’s entrepreneurial skills. This then facilitates a cross-generational innovation in a family business, successfully generating a notable impact to the growth of this family business
Gender Discrimination in the Absence of Discrimination Laws: Evidence from Malaysia
Get PDFThis study aims to estimate gender discrimination in the labour market by using fictitious job applicants, carrying gender identifiable names at the top of the curriculum vitae. Fictitious job applications were sent to genuine vacancies in Malaysia. An audit experiment was conducted on new graduate employment in a labour market with no legislation against discrimination. We recorded if there was a significant difference in call-back interview rates. We estimated the extra amount of applications females would need to make to obtain the same number of interview calls as males. Results show a female bias in call-backs was evident only in broader markets that traditionally offer female employment
Occupational Commitment in Private Higher Education Sector: Work-Life Balance, Job Burnout and the Mediating Effect of Supportive Culture
Get PDFThis study aims to study the effect of occupational commitment (OC) toward work-life balance (WLB) and job burnout with the mediating effect of a supportive culture (SC) in the context of employees in the private higher education sector in Malaysia. This paper adopted a purposive sampling technique among academics in private higher education in Malaysia. A quantitative approach using Partial Least Square PLS-SEM (Structural Equation Modelling) method was applied to analyse the data. The results show that OC is positively related to SC and SC has a high potential for lowering job burnout. The study also found that SC positively affects WLB. Furthermore, SC was found to elucidate the effect between OC, WLB and job burnout among employees in the private higher education sector. The study has two major theoretical implications. The study reaffirms the existing theory by demonstrating that OC, WLB, and job burnout are significantly related through support culture as a mediator. In addition, the study extends the existing theory by putting forward that understanding the effect of OC on employees' work behaviour in the private higher education research model can account for the variations in different sectors and contexts
IFRS Convergence and Value Relevance of Accounting Information: Evidence from Indian Financial Reporting
Get PDFInternational studies have recorded evidences of improved accounting information attributed to the adoption of International Financial Reporting Standards (IFRS). The concurrent literature is however, scant in India. This study is one of the first of its kind to explore value relevance in the context of financial reporting for a large sample in India since IFRS convergence. The paper examines the value relevance of financial reporting of firms listed on the National Stock Exchange (NSE) in India by employing the Ohlson, (1995) Price Model. It aims to identify whether fundamental accounting variables like book value per share (BVPS) and earnings per share (EPS) are more value relevant after the IFRS converged Indian Accounting Standards (IndAS) became mandatory for listed firms. The hypotheses are tested using multivariate panel regressions on the annual data of 910 listed firms from 2013-14 to 2018-19 – resulting in 5460 observations – to include the pre and post mandatory convergence periods. The study documents a statistically significant association between stock prices of our sample firms and their key accounting variables (BVPS and EPS) along with an increase in the explanatory power of the model during the post mandatory convergence period
Deadly Income Inequality? A Panel Data Analysis on the Impact of Income Inequality on Mental Disorder Mortality
Get PDFThis study investigated the impact of income inequality on mental disorder mortality. The present study also sought to discover the role of institutional quality in moderating the income inequality-mental disorder mortality nexus. The analysis used panel system generalized method of moments (GMM) estimations on data from developed and developing countries from 1989 to 2018. The analysis findings indicated that income inequality positively impacted mental disorder mortality in the total sample and developed countries but was insignificant for developing countries. In addition, the income-inequality-mental disorder mortality nexus was contingent on institutional quality, indicating that better institutional quality could alleviate the effect of income inequality on mental health, especially in developed countries
Word of Mouth for Consumers: All-You-Can-Eat Japanese Restaurants
Get PDFThis study aimed to examine and analyze the effect of word of mouth on the purchasing decisions of consu-mers of all-you-can-eat Japanese restaurants. The type of research was causal quantitative analysis tested using a linear regression test. The sampling technique was purposive sampling. The samples were 100 all-you-can-eat Japanese res¬tau¬rants con¬sumers in Surabaya, Indonesia. The re¬sults showed that word of mouth had a positive and significant influence on purchasing decisions. It was a new study. Thus, this research could help manage the restaurant bu¬siness, thereby improving the existing marketing perform¬ance
Unlocking the Hidden Side of Economic Abuse in Malaysia
Get PDFEconomic abuse is an abusive tactic commonly employed by a perpetrator to diminish the economic security and potential self-sufficiency of victims. While most studies have examined economic abuse from intimate relationships, scant research has documented non-intimate relationships (e.g., between parents and children). Apart from that, the role of economic abuse in triggering domestic violence in Malaysia remains underexplored. Therefore, the present study seeks to investigate the association between economic abuse and mental distress among Malaysian students, in addition with the role of financial distress. Therefore, a cross-sectional analysis was performed using an online-based survey with 126 respondents. Multivariate regression analysis was performed to examine the interrelation effects between the variables using structural equation modeling (SEM). Findings indicated that economic abuse is positively associated with financial distress and mental distress among students. Furthermore, financial distress has a significant mediating effect on the relationship between economic abuse and mental distress. Therefore, there is a need for practitioners to cooperate with government agencies to establish a comprehensive economic empowerment program to assist victims
Preference of Broiler Chicken for Cassava-Moringa Based Diet
Get PDFThe poultry industry is under pressure from the rising cost of imported feed ingredients. In order for the industry to be profitable and sustainable, it has to reduce the cost of production by using locally available feedstuff. A study was carried out to evaluate feed preference of broiler chicken for cassava root chip, for three diets made by mixing different proportion in percentage of cassava root chip and ground Moringa leaf (90:10, 80:20, 70:30) and compare it to the preference for commercial starter diet. These diets were offered as free choice to five 20-days old chicken, one at a time over a period of five days. The three feed preference criteria assessed were (i) the visiting frequency to each diet station, (ii) time spent feed at each diet station, and (iii) amount of different treatment diet consumed. The hypothesis is that the preferred food will be visited more often; the chicken will spend longer time feeding on it and therefore consume it more. We found that broiler chicken consumed cassava root chip the least (2 g), visited it less often (9 visits) and spent less time (3.5 minutes) feeding on it. In contrast, feed consumption (6.12 g) and time spent (17 minutes) was highest for mixed diet containing 80% cassava and 20% Moringa leaf meal. Visiting frequency was highest for commercial starter diet (29 visits) and second highest (24 visits) for mixed diet of 80% cassava: 20% Moringa and 70% cassava: 30% Moringa. It is concluded that broiler chicken preferred the diet containing 80% cassava root chip and 20% Moringa leaf meal among all diets on offer