International Journal of Economics, Management and Accounting
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GENDER WAGE DIFFERENTIALS IN THE MALAYSIAN MANUFACTURING SECTOR
Get PDFStudies have found that on average males earn substantially higher wages than females. Females are paid lower than their male counterparts due to several reasons such as educational attainment, job characteristics and types of industries. Even after accounting for variations in these productivity- related characteristics, gender wage differentials may still prevail as a result of discriminatory practice by employers. This paper attempts to measure the determinants of wage differentials by gender in the Malaysian manufacturing sector. The analysis is based on a survey of 2,046 workers in six major industriesconducted in 1999. These are the electrical and electronics, textile, wood-based, transport equipment, food and chemical industries. The determinants of wage differentials are obtained by using the coefficients of the earnings functions. These factors are decomposed into several categories, namely, demographic factors, human capital, job characteristics and industry characteristics. The results reveal that demographic factors and human capital variables play a major role in determining the wage differentials by gender. The divergence coefficient, which might include discriminatory practice by the employers, is also quite small.JEL classification: J16, J24, J3
ECONOMICS ORIGINS OF DICTATORSHIP AND DEMOCRACY
No full textECONOMICS ORIGINS OF DICTATORSHIP AND DEMOCRAC
LONG RUN LINKAGE BETWEEB BUDGET DEFICIT ANDTRADE DEFICIT IN LEBANON: RESULTS FROM THE UECM AND BOUND TEST- A COMMENTARY
No full textCONCEPTUALISATION OF THE SECOND BEST SOLUTION IN OVERCOMING THE SOCIAL FAILURE OF ISLAMIC BANKING AND FINANCE: EXAMINING THE OVERPOWERING OF HOMOISLAMICUS BY HOMOECONOMICUS
Get PDFThe phenomenal growth of the Islamic banking and finance (IBF) industry has been remarkable since it came into existence just over thirty years ago. However, a closer reading of this positive development indicates that the IBF industry does not necessarily share the aspirations of Islamic economics, which aims at creating a world order in which the moral economy of Islam with its authentic value system can exist. In other words, the Islamic economic system aspires for the development of Islamic economics and financial institutions founded upon homoislamicus, agents concerned about social justice and human-centred economic growth and development. This indeed indicates the divergence between the aspiration of Islamic economics and the world of IBF. After highlighting and analysing the tension areas between the two and the reasons and sources of this apparent divergence, this paper argues that IBF needs to move into its third stage of development through the institutionalisation of social banking as a second best solution in overcoming the social failure of IBF and in creating value-added for capacity building and social justice.JEL classification: G10, Z12Key words: Islamic finance, Islamic Economic
AGENCY PROBLEMS IN MUDARABAH FINANCING: THE CASE OF SHARIA (RURAL) BANKS, INDONESIA
No full textThis study examines the agency problems that arise in muèOErabah financing in Indonesian Rural Sharia Banks. The study focus on project attributes, especially those projects that might consider muèOErabah financing, and the attributes of muèOErib who received financing. The research is explorative in nature, combining both qualitative and quantitative approaches. The study found that six attributes were considered relevent from the muèOErabah projects point of view. These include: the prospect of the project, availability of collateral, healthiness of the project, the project’s financial statements, clarity of contract conditions, and conformity of time period. With regard to muèOErib attributes, five characteristics were considered important. They include: business capacity, collateral, muèOErib’s reputation and family background, and their business commitments. Further quantitative analysis has also been conducted to examine those attributes.JEL classification: Z12, G10, D82Key words: Islamic economics, Islamic finance, Asymmetric information
MERGING SPIRITUALITY AND RELIGION: DEVELOPING AN ISLAMIC LEADERSHIP THEORY
Get PDFLeadership has been much talked about in the literature of social sciences. Numerous theories seem to have confused researchers and therefore scattered ideas about leadership continue to emerge from time to time. These theories can be classified into behavioral studies, contingency studies, transactional studies, transformational studies, charismatic studies, and integrative studies. Very recently, researchers have introduced a new concept of leadership known as 'authentic leadership.' This author argues that Islam provides the most comprehensive understanding of leadership through its highly developed and modern ethical system that seeks guidelines from the Qur'Én and Sunnah of Prophet Muhammad [p.b.u.h]. The author also argues that grounds for leadership have already been laid by Islamic teachings several hundred years back. Nevertheless, there is a need to understand and comprehend these teachings and integrate them into a comprehensive and elaborate theoretical model of leadership theory based on Islamic perspectives. The paper first summarizes the theological beliefs and fundamental socio-economic principles of Islam and cultural setup of society based on the Qur'Én and Sunnah. It then presents a framework of Islamic Leadership Theory. The paper also discusses the theoretical and practical implications of the proposed framework. Recommendations are also made for further theoretical development of the proposed model.JEL classification: M14, M59Key words: Spirituality, Religion, Islamic leadershi
THE LINKAGE BETWEEN MANUFACTURING STRATEGIES AND STRATEGIC HUMAN RESOURCE MANAGEMENT PRACTICES IN MALAYSIA
Get PDFRapid development and changes brought about by the global business environment should be accompanied by human resource management (HRM) practices which are progressive and forward looking to avoid failure for firms due to inability to properly manage their human capital. This study was undertaken in an attempt to identify which manufacturing strategies are significantly related to strategic HRM practices in Malaysia. This is based on the contingency theory which holds that certain HRM practices are implemented in accordance with type of competitive strategy adopted by the firms. The results of the study show that quality and flexibility based strategy is still a dominant concern for manufacturing firms. Through this study, the information gathered is useful for strategy formulation and how it leads to improved strategic HRM, specifically among Malaysian organizations and other parts of the world in general. Moreover the study is unique as it took place in a heterogeneous socio-political, cultural and economic environment.JEL classification: L60, M12Key words: Manufacturing Strategies, Human resource Management, Malaysia
ORGANIZATIONAL JUSTICE AND EXTRA-ROLE BEHAVIOR: EXAMINING THE RELATIONSHIP IN THE MALAYSIAN CULTURAL CONTEXT
Get PDFThe study examines the role of organizational justice (OJ) in promoting extra role behavior (ERB). OJ is a multi dimensional construct and involves fairness of reward/resource allocation decisions, procedural aspects of these decisions, fairness in interpersonal treatment, and fairness in information and explanation given to employees concerning decisions relevant to them. ERB involves discretionary behavior such as helping other employees and developing ideas, speaking up on issues and voicing concerns relevant to the work group. Recent conceptualizations distinguish ERB from organizational citizenship behavior (OCB), which includes dimensions such as compliance and conscientiousness. The paper is based on a study that uses Van Dyne, Cummings and Parks' (1995) measure of ERB. This instrument measures two dimensions of ERB, namely, helping (defined as affiliative and promotive behavior) and voice (defined as challenging and promotive behavior). Using data from lower and middle level managers from a mix of organizations, the study validated the four and two dimensional construct of OJ and ERB respectively. Cross cultural studies on social values have identified Malaysia as high on power distance and collectivism. Based on arguments from literature on normative influence of social values on human behavior, the study expected no relationship of OJ with ERB in Malaysia. Results supported the hypotheses.JEL classification: D230, L200Key words: Malaysia, Organizational justice, Extra- role behavior
FOOD CONSUMPTION BEHAVIOR OF THE MALAYS IN MALAYSIA
Get PDFThe objective of this study is to provide an insight into demand patterns of Malay consumers for specific food categories in Malaysia. By utilizing Household Expenditure Survey 2004/2005, a system of equations of Linear Approximate Almost Ideal Demand System (LA/AIDS) model for 12 aggregated food products is estimated using a two-step estimation procedure. A Workinglesser form of Engel function is also estimated to derive income elasticities from the estimated expenditure elasticities. This study shows that Malay consumers appear to have different food consumption patterns as compared to the general Malaysian diets. Malay consumers tend to increase their consumption of rice more than higher-value (meat and fish) and functional (vegetables and fruits) foods. Malay consumers are found to be very sensitive to the own-price of most of the food products, especially riceJEL classification: D12, E21Key words: Food, Linear Approximate Almost Ideal Demand System, Engel functio
SHARI'AH INSPECTION OF SURPLUS DISTRIBUTION IN TAKÓFULOPERATIONS
No full textThis researchintendstoshedlightona number ofissues related to surplus distribution in tak?ful. The first part is devotedtorevisiting the main financial concepts related to the surplus such as the underwriting surplus and profit. Modes of distribution suchas pro-rata andoffsettingwill alsobe discussed inthe lightof equityprinciple advocated by Shari'ah . The second partdeals withthe major juristicviews and doctrines delineated infavor of surplus distribution. Legaldoctrines such as the ownership or otherwise of the surplus after donation would be meticulouslydiscussed and reviewed in the lightof currentpractices of takaful operators. The last part deals with a general outline of Shari'ah parameters inrelationtoequitable surplus distribution. Thisisfollowed bya scrutinyof surplus distribution practices of somemodern takaful operators both inMalaysiaand abroad. The research argues thatwhileitis strongly recommended to redistribute the surplus tothe participants only, there is a considerable Shari'ah ground allowing takaful operators to share in the surplus for reasonsoutlinedinthis research. JEL Classification:G22, Z12 Keywords: Takaful, Surplus distribution, Islamic finance, Malaysi