International Journal of Economics, Management and Accounting
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THE INFLUENCE OF TRAINING EVALUATORS' CHARACTERISTICS ON EVALUATION PRACTICES IN MALAYSIA
Get PDFThis paper examines the background characteristics of training evaluators and the way training evaluation is conducted in Malaysia. The background characteristics examined include evaluators' current involvement in evaluation activities, training and experience, academic qualification, and familiarity with evaluation models. This study adopts an instrument developed by Shadish and Epstein (1987). Ninety-four training evaluators participated in this study. The findings reveal that training evaluators are active in evaluation activities, receive informal training in conducting evaluation, possess academic qualifications in various disciplines, experience limited training evaluation and have a low level of familiarity with evaluation models. The evaluators' background characteristics are found to have influenced the way evaluation is conducted. The implications of the findings are discussed.JEL classification: I2, M1Key words: Training, Evaluation practices, Malaysi
THE CONDITIONAL CAPM AND CROSS-SECTIONAL EVIDENCE OF RETURN AND BETA FOR ISLAMIC UNIT TRUSTS IN MALAYSIA
Get PDFThe aim of this paper is to investigate the relationship between return and beta for Islamic unit trusts using the cross-sectional regression analysis. The estimation of return and beta without differentiating between positive and negative excess market returns produces a flat unconditional relationship between return and beta. Using the conditional CAPM and cross-sectional regression analysis, the evidence in this paper tends to support a significant positive relationship in an up-market and a significant negative relationship in a down-market. This paper suggests that beta could be used as a tool in explaining cross-sectional differences in Islamic unit trusts’ returns and as a measure of market risk. Based on the adjusted-R2 and standard error of the conditional relationship between returns we find that beta is higher in a down-market than in an up-market. Therefore, both statistics are appropriate measurements of conditional relationships. JEL classification: G1, C2Key words: Asset pricing; Cross-sectional models; Islamic unit trust
THE ROLE OF ISO 9001: 2000 CONSULTANTS
Get PDFThe revision of ISO 9000 standards involving a paradigm shift from being quality assurance oriented to quality management oriented imply a change in their implementation approach. This paper chooses to focus on one of the often overlooked issues of ISO 9000 implementation – the role of the ISO 9000 consultant in the implementation process. Specifically, this research attempts to find out (i) the role of consultant in ISO 9000: 1994, (ii) the role of the consultant in ISO 9001: 2000, and (iii) the shifting of roles from ISO 9000: 1994 to ISO 9001: 2000. The results suggest that for ISO 9000: 1994, the ISO consultant plays four major roles in the implementation process: Trainer, Coordinator, Documenter, and Adviser. On the other hand, there can only be one major role for ISO 9000: 2000, that of the ‘Comprehensive Implementer’, suggesting a dramatic change in the ways the ISO consultant assists and coordinates the ISO 9000 applicant (the company). In addition, the results also imply a change in the consultant’s role from that of a ‘knowledge broker’ to a more ‘expert’ oriented one in ISO 9000 implementation.JEL classification: M10Key words: ISO 9000, Consultants, Quality standar
FISCAL POLICY IN AN ISLAMIC ECONOMY AND THE ROLE OF ZAKAT
No full textThis study incorporates zakat into a simple macroeconomic model of an Islamic economy and analyzes the role of zakat in the national income determination. The reduced form aggregate consumption function suggests that the determinants of consumption are: Zakat expenditure, taxes, income and asset holdings of individuals. Zakat could be used as a counter-cyclical policy through discretionary and non-discretionary fiscal policy. Discretionary fiscal policy is carried out by varying the disbursement of zakat to the recipients. During the expansion phase of the business cycle, the government reduces zakat expenditure to close the inflationary gap. This action helps increase the zakat surplus, in the Baitul-Mal. Likewise zakat expenditure could be increased by using the zakat surplus accumulated during the boom periods, when the economy is in the down-swing to spur aggregate spending and economic activities. Therefore, zakat could complement taxation and government spending as tools of stablization policy.JEL classification: E20, E62, H30Key words: Fiscal policy, Islamic economy, Zakat
GENGHIZ KHAN: LEADERSHIP AND MANAGEMENT LESSONS FROM THE MONGOLS
No full textGENGHIZ KHAN: LEADERSHIP AND MANAGEMENT LESSONS FROM THE MONGOL
SECURITIZATION IN ISLAMIC BONDS & DEBT SECURITIES: ISSUES AND ALTERNATIVES
No full textThe article focuses on Islamic bonds and debt securitiesand examines specific issues in Islamic debt securitization. Other areas of securitization are discussed briefly to provide an overall picture of the topic. The article also investigates the potential bridging and extension of the concept of securitization to new opportunities and assets that are capable of securitization. Throughout this paper, the focus will be on the modes of securitization for Islamic contracts, essentially to meet the requirements of Islamic legal rules and principlesJEL classification: G29, K39, Z12Key words: Islamic securitization, Islamic debt securitizaties, Sukuk
ISLAM AND EVERYDAY WORLD-PUBLIC POLICY DILEMMAS
No full textISLAM AND EVERYDAY WORLD-PUBLIC POLICY DILEMMA
RURAL DEVELOPMENT SCHEME OF ISLAMI BANK BANGLADESH LIMITED (IBBL): ASSESSMENT AND CHALLENGES
Get PDFIslami Bank Bangladesh Limited (IBBL) has launched a shar¥cah based Micro-finance program named Rural Development Scheme (RDS) in 1995, to uplift the overall socioeconomic plight of the rural poor. Presently, some 0.52 million group members of which 94 per cent female are involved in this scheme. Before further expansion to new areas, an assessment of the achievement of the RDS and its impact on the livelihood of the rural people was required. To conduct this study, primary data were collected interviewing 1020 randomly selected RDS clients working across the country. The study analysed many facets of the RDS and concludes that it was generally a success. Household income and expenditure had increased significantly and clients had a positive opinion towards the microinvestment program as it improved their standards of living. The study recommends that RDS activities be extended towards hardcore poor, especially for widows and divircees. Monitoring and supervision should be strengthened, while more ethical and moral motivational programs have been undertaken for both field supervisors and clients to reduce shar¥cah violation. The program can be replicated in other rural areas of Bangladesh in order to accelerate economic activities of the poor.JEL classification: G21, Z12Key words: Shar¥cah -based microfinance, Rural development, Bangladesh
TOWARDS AN ISLAMIC COMMON MARKET: ARE OIC COUNTRIES HEADING THE RIGHT DIRECTION?
Get PDFTOWARDS AN ISLAMIC COMMON MARKET:ARE OIC COUNTRIES HEADING THE RIGHT DIRECTION