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Determinants of the Long-Term Performance of Malaysian Initial Public Offerings
Get PDFThis study examined the determinants of the long-term performance of 351 initial public offerings (IPOs) launched in Malaysia over the 2002–2010 period. This paper used a panel regression analysis framework based on the ordinary least squares (OLS) technique to examine the potential determinants of IPOs’ long-term performance. The findings revealed that the volatility of aftermarket returns, the dummy ACE market and concentration ownership significantly influence the long-term performance of Malaysian IPOs. This paper offers important implications specifically for investors as the findings can help them understand more about public companies’ long-term performance and how to better predict their performanc
Moderator Effect of Technological Advancement on Financial Development and Economic Growth Nexus in Asian Countries
Get PDFThe examination of the nexus between Financial Development (FD), Technological Advancement (TA), Human Capital (HC), and Private Consumption (PC) to Economic Growth (EG) has gained substantial attention in both empirical and theoretical academia since the early nineteenth century. Scholars affirm that FD, HC, PC, and TA are crucial factors in determining optimal resource allocation and efficient utilization required to achieve sustainable EG. This study investigates the nexus of FD, HC, and PC with EG in Asian countries, with TA serving as the moderator. Data from 35 countries were collected annually over 15 years, spanning from 2005 to 2019. Using short panel data analysis, due to the higher number of crosssections (35) compared to time intervals (15), the findings confirm TA’s significant moderator effect in both short and long-run time scenarios. Additionally, a significant negative relationship with EG is observed for FD and PC, while TA and HC are identified as promoters of EG. The study underscores the importance of investing in TA while concurrently developing the quality of the labor force. Policymakers are encouraged to prioritize technology development and the introduction of innovative techniques. However, caution is advised in FD projects, necessitating strategies to reduce domestic private consumptio
Government Assignment of Contracts to State-Owned Enterprises to Provide Infrastructure: Indonesia’s Experience
Get PDFThis paper aims to evaluate the peculiarities of a mechanism utilised by the Indonesian government to conduct infrastructure development, that is, the government’s assignment of contracts to state-owned enterprises (SOEs). This mechanism differs from public procurement or public-private partnership. This paper raises three questions: (1) assignment of contracts to SOEs? (2) What should be done to prevent the disadvantages? and (3) What lessons can be learned by other countries from the Indonesian experience? This paper employs qualitative legal research. It starts by analysing public satisfaction and dissatisfaction as reflected in the news, literature and interviews. The legal causes of dissatisfaction which are basically the problematic regulations, are then analysed. Finally, the legal principles and legal concepts enshrined within the regulations are examined to seek legal solutions. The advantages of the government’s assignment of contracts to SOEs are to simplify the tender process and to enable
the government to quickly provide infrastructure. Nonetheless, the private sector feels aggrieved because the regulations that dictate when a project may be contracted to an SOE are unclear, and
public funding is predominantly circulated among the SOE groups. To address these problems, the government should adhere to the globally recognised principles of equality and accountability and the
concepts of competitive neutrality and the right to development. The bittersweet Indonesian experiences maybe not only the refinement of the Indonesian law and policy, but also their use as food for thought for any country considering infrastructure developmen
Attention-Deficit/ Hyperactivity Disorder Brain Functional Reference: Introducing an Inter-subject Consistency Measure and Dual-layer Parcellation
Get PDFThe latest advancements in neuroimaging techniques have contributed to studying the disordered human brain, but still, there is a lack of disease-specific brain reference to localise brain seeds and standardise the comparison across studies. The current study first evaluates the inter-subject consistency across Attention-Deficit/ Hyperactivity Disorder (ADHD) in a publicly accessible resting-state functional magnetic resonance imaging (RS-fMRI) ADHD-200 dataset by proposing a new voxels similarity index (VSI) that integrates both inter-atlases flexibility (F`) from previous studies with proposed intersubjects stability (S`) measure to improve outcomes. Secondly, the study employs a dual-layer clustering-based parcellation strategy inspired by the resultant improved Master Atlas networks to examine the ADHD cerebral cortex. The suggested approach to enhancing the ADHD cortex parcellation uses spectral clustering for global structure identification, followed by hierarchical clustering for local refinements and granularity specification. The final connectivitydriven brain reference achieved an average homogeneity of 0.63, and the enhanced Master Atlas with (S’) achieved 0.35 homogeneity, surpassing the original Master Atlas with 0.27. This discovery implies that the final brain reference offers a more accurate and reliable framework to examine the connections and functions of the brain in individuals with ADH
Exploring Best Practices for New Climate Change Policy and Law Program
Get PDFClimate change law is seldom taught formally as a program at institutions of higher education. Hence, it is unclear as to how climate change law lessons should be delivered. This paper focuses on the exploration of best practices for new climate change policy and law program. The study engaged in purely qualitative methodology, involving interviews with 10 experts in environmental law and climate change from academia and industry partners, as well as environmental law alumni. The collected data was analysed in ATLAS.ti software version 22 using thematic analysis approach. The study found that among the recommended best practices of teaching delivery methods for the program are service learning (SL), global learning, article contributions to newspapers and project-based learning (PBL). SL involves the implementation of credited projects by the students for the benefit of a targeted community focusing on climate change issues. Meanwhile, global learning involves collaborative events with member institutions within Malaysia or abroad, in which experts, academia and industry practitioners can join and participate for sharing of experiences, skills and knowledge on climate change current issues and challenges. Students can also be encouraged to write their articles to be submitted to newspaper portals, either printed or online sites. Additionally, lecturers can prompt specific PBL projects to the students, in which students are to "carry out" climate change-related projects in this innovative and inspiring learning strategy. The final strategy is to encourage students to implement roleplay in classes, aiming at giving simulation experiences in solving climate change issues. Hopefully, this paper will become a catalyst for future studies on climate change curriculum development, particularly on teaching delivery practices. The findings are highly pertinent to United Nation's Sustainable Development Goal SDG13 on climate action. In the broader context, the findings of the study will be a great contribution towards the attainment of sustainability efforts on climate action, particularly in capacity building of the people on teaching delivery methods of climate change policy and la