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Article
Publication date: 8 August 2016

Amizawati Mohd Amir, Sofiah Md Auzair, RUHANITA MAELAH and Azlina Ahmad

The purpose of this paper is to propose the concept of higher education institutions (HEIs) offering educational services based on value for money. The value is determined…

Abstract

Purpose

The purpose of this paper is to propose the concept of higher education institutions (HEIs) offering educational services based on value for money. The value is determined based on customers’ (i.e. students) expectations of the service and the costs in comparison to the competitors. Understanding the value and creating customer value are a means to attain competitive advantage and constitute the basis of price setting. Drawing upon this belief, as an initial step towards value-based pricing method, the possible value factors are suggested for calculating educational programme prices across HEIs.

Design/methodology/approach

This is a conceptual paper introducing the value-based pricing approach in setting HEI tuition fees. Extending prior discussion on the demand for quality education and current financial challenges faced by HEIs, it introduces the concept pricing based upon customer perceived value (student/industry). Value-based pricing is deemed appropriate in view of the value of short tangible and intangible investment by both parties (students and HEIs) to differentiate in terms of setting the right price for the right university for the right student.

Findings

The primary aim is to suggest the applicability of value-based pricing for HEIs, which is likely to be both relevant and fruitful for the sustainability of the sector. It represents a personal point of view; building upon a review of the literature, the paper extends the established knowledge one step further in terms of setting the right price for the right university, which is deemed worthy of further study and development.

Originality/value

The paper will be of use to the management and policymakers in the education sector in searching for a contemporary pricing mechanism for higher education.

Details

International Journal of Educational Management, vol. 30 no. 6
Type: Research Article
ISSN: 0951-354X

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Article
Publication date: 9 November 2015

Maizatulakma Abdullah, Zaleha Abdul Shukor, Zakiah Muhammadun Mohamed and Azlina Ahmad

– The purpose of this paper is to examine the effect of voluntary risk management disclosure (VRMD) on firm value (FV).

Abstract

Purpose

The purpose of this paper is to examine the effect of voluntary risk management disclosure (VRMD) on firm value (FV).

Design/methodology/approach

This study uses content analysis approach to collect the VRMD data. FV is represented by three variables: market capitalization, Tobin’s Q and market to book value of equity ratio. Based on a sample of 395 firms listed on the main market of Bursa Malaysia in 2011, this study uses multivariate statistical tests to examine the association between VRMD and FV.

Findings

Based on the regression analysis, this study found that the VRMD has a positive and significant relationship with FV. Even though the authors hypothesize that damaging voluntary risk management disclosure (DVRMD) will have a negative and significant relationship with FV, the regression analysis shows that the DVRMD is not significantly related to FV. As expected, the relationship between beneficial voluntary risk management disclosure (BVRMD) and FV is positive and significant. The findings provide evidence that should be of interest especially to firms in terms of deciding upon whether to provide or avoid disclosing voluntary risk management information to their stakeholders.

Research limitations/implications

Notwithstanding the critical empirical findings, this study is limited to only focusing on a one year data. The authors acknowledge the fact that findings from a one year data might not be easily generalized to other time periods. The authors believe a stronger argument could be obtained from evidence based on a longitudinal study or data that incorporate multiple economic conditions. The study highlights the fact that risks management information is important to investors in Malaysia when they make their investments decisions.

Practical implications

To date, regulatory bodies emphasize more on financial risk management disclosure through the enforcement of MFRS 7; while non-financial risk information is less emphasized in current guidelines such as Malaysian Code on Corporate Governance (MCCG) (2012) and Recommended Practice Guide 5 (Revised), which only requires firms to disclose information about non-financial risk management without specific details. As this study has provided evidence on the significance of non-financial risk management disclosures in the capital market, this study could be useful for the regulatory bodies to develop more detailed guidelines on non-financial risk management disclosure in the future.

Originality/value

Most of prior literatures are found to focus on the study of factors that influence the VRMD (such as Linsley and Shrives, 2006; Abraham and Cox, 2007; Hassan et al., 2009; Ismail and Abdul Rahman, 2011). Studies about the effects of voluntary risk management information disclosure is however very scant. Miihkinen (2013) studied the effects of risk management disclosure on information asymmetry. This paper adds to Miihkinen (2013) by investigating the relationship between VRMD and FV. This paper is expected to be the first to investigate on the empirical usefulness of VRMD in a developing country.

Details

Journal of Applied Accounting Research, vol. 16 no. 3
Type: Research Article
ISSN: 0967-5426

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Article
Publication date: 9 November 2020

Vinno Petrus Manoppo

The purpose of this research is to examining the effect of transformational leadership on work stress, organizational citizenship behavior (OCB) and turnover intention…

Abstract

Purpose

The purpose of this research is to examining the effect of transformational leadership on work stress, organizational citizenship behavior (OCB) and turnover intention, examining the effect of work stress on OCB and turnover intention and examining the effect of OCB on turnover intention.

Design/methodology/approach

Data were collected using the survey method, with questionnaires and data analysis were done employing the WarpPLS with two approaches. This research finds the results of this study indicate that the higher the transformational leadership, the lower the work stress will be. The positive significant relationship might be because of direction or command given by the leaders to nurses at each meeting held regularly.

Findings

The results of this study indicate that the higher transformational leadership, the lower the turnover intention will be even though it is not significant. The results of this study indicate that the higher the work stress, the lower the OCB, although not significant.

Originality/value

Previous studies have not examined the relationship of the variables mentioned above, especially in Manado where the respondents have different cultures.

Details

The TQM Journal, vol. 32 no. 6
Type: Research Article
ISSN: 1754-2731

Keywords

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Article
Publication date: 8 February 2016

Maizaitulaidawati Md Husin and Asmak Ab Rahman

The purpose of this paper is to apply theory of planned behaviour (TPB) in predicting consumer intention to participate in takaful. One area of concern for takaful…

Abstract

Purpose

The purpose of this paper is to apply theory of planned behaviour (TPB) in predicting consumer intention to participate in takaful. One area of concern for takaful operators is the untapped Islamic insurance (takaful) market and lower market share compared to conventional insurance counterparts. It is possible that the application of the TPB could shed some light on the problem and possibly offer some assistance to the takaful operators.

Design/methodology/approach

Interrelationships among attitudes, subjective norm, perceived behavioural control and purchase intentions in regard to takaful products participation were examined within a framework of the theory of planned behaviour. A model and series of propositions are developed. The propositions are open to empirical verification and can form the basis for a research stream on takaful participation.

Findings

In identifying factors influencing takaful participation, TPB is used and the model incorporates certain individual factors that are likely to influence intentions towards takaful participation. The model proposes that individual factors such as awareness, knowledge and exposure have impacts on takaful participation.

Originality/value

This study provides insights for a previously unaddressed takaful participation among potential consumers. Prior work on determining participation of takaful has not applied TPB in an effort to understand the phenomenon.

Details

Journal of Islamic Accounting and Business Research, vol. 7 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

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Article
Publication date: 21 January 2021

Adeel Nasir, Umar Farooq and Ashraf Khan

The purpose of this research is to provide a comprehensive review of key influential aspects and conceptual structure of Takaful literature.

Abstract

Purpose

The purpose of this research is to provide a comprehensive review of key influential aspects and conceptual structure of Takaful literature.

Design/methodology/approach

The authors review 149 journal articles using bibliometric citation analysis, co-word analysis and citation histograms. However, the authors have introduced a new index of keywords for co-word analysis.

Findings

The results purpose four research clusters of Takaful literature. The first theme compared Takaful with conventional insurance from various perspectives. Second theme explored the business model and sharia-compliant issues. Third theme applied the marketing concepts and examined the customer behaviour such as commitment, loyalty, satisfaction or awareness. Fourth theme examined risk management, investment and corporate governance issues. This research also identified the structure of variables studied in each theme.

Originality/value

This paper follows a very novel and trending bibliometric approach and explores what has been published, encompassing all aspects of Takaful literature. This study also presents 22 future research directions which are either missing or less researched in Takaful literature.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8394

Keywords

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Article
Publication date: 7 January 2019

Muhammad Shahbaz and Avik Sinha

The purpose of this paper is to provide a survey of the empirical literature on environmental Kuznets curve (EKC) estimation of carbon dioxide (CO2) emissions over the…

Abstract

Purpose

The purpose of this paper is to provide a survey of the empirical literature on environmental Kuznets curve (EKC) estimation of carbon dioxide (CO2) emissions over the period of 1991–2017.

Design/methodology/approach

This survey categorizes the studies on the basis of power of income in empirical models of EKC. It has been hypothesized that the EKC shows an inverted U-shaped association between economic growth and CO2 emissions.

Findings

For all the contexts, the results of EKC estimation for CO2 emissions are inconclusive in nature. The reasons behind this discrepancy can be attributed to the choice of contexts, time period, explanatory variables, and methodological adaptation.

Research limitations/implications

The future studies in this context should not only consider new set of variables (e.g. corruption index, social indicators, political scenario, energy research and development expenditures, foreign capital inflows, happiness, population education structure, public investment toward alternate energy exploration, etc.), but also the data set should be refined, so that the EKC estimation issues raised by Stern (2004) can be addressed.

Originality/value

By far, no study in the literature of ecological economics has focused on the empirical estimation of EKC for CO2 emissions. This particular context has been used for this study, as CO2 is one of the highest studied pollutants in the ecological economics, and especially within the EKC hypothesis framework.

Details

Journal of Economic Studies, vol. 46 no. 1
Type: Research Article
ISSN: 0144-3585

Keywords

Content available
Article
Publication date: 21 August 2020

Syed Moudud-Ul-Huq, Tanmay Biswas and Shukla Proshad Dola

This study aims to empirically investigate the effect of managerial ownership on bank value concerning conventional and Islamic bank. The analysis uses a balanced panel…

Abstract

Purpose

This study aims to empirically investigate the effect of managerial ownership on bank value concerning conventional and Islamic bank. The analysis uses a balanced panel data set based on a sample consisting of 480 bank-year observations between 2003 and 2017.

Design/methodology/approach

Ordinary least squares, fixed effect and random effect have been used primarily to examine the relationship between managerial ownership and banks' value. Later, the authors validate the core results by using the generalized linear model.

Findings

This study provides general support for the claim of interest alignment that encourages bank standards with a high level of managerial ownership and partly opposes the view of the entrenchment effects.In addition, the study finds a U-shaped and insignificant relation between managerial ownership and bank value. This indicates that initially, managerial ownership is a blessing, and later, it becomes a curse in considering bank value. Moreover, bank value affects managerial ownership positively both for conventional and Islamic banks.

Originality/value

A good number of studies are available in the current literature, which examine the impact of managerial ownership on either bank performance or risk-taking. However, very few studies are found that examine the bidirectional relationship between managerial ownership and banks' value. Moreover, to the best of authors’ knowledge, there is a dearth of literature on this topic that is built on the comparative analysis between conventional and Islamic banks.

Details

Asian Journal of Accounting Research, vol. 5 no. 2
Type: Research Article
ISSN: 2443-4175

Keywords

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Article
Publication date: 3 April 2018

Tehreem Fatima, Enjun Xia and Muhammad Ahad

This study aims to examine the relationships between aggregated and disaggregated energy use in the industrial sector, carbon emissions and industrial output in China.

Abstract

Purpose

This study aims to examine the relationships between aggregated and disaggregated energy use in the industrial sector, carbon emissions and industrial output in China.

Design/methodology/approach

The study utilizes annual frequency data for the period of 1984-2015. The unit root properties of data are tested using augmented Dickey–Fuller and Phillips and Perron unit root tests. Furthermore, the Zivot–Andrew structural breaks unit root test is used to detect the structural breaks steaming into series. The autoregressive distributed lag bound test and newly developed Bayer–Hanck combined cointegration are used to check the existence of a cointegration relationship between underlying variables. Last, the direction of causality is determined applying vector error correction model (VECM) Granger causality.

Findings

The results confirm the existence of a long-run relationship in the presence of structural breaks. The authors conclude that aggregated and disaggregated energy consumption in the industrial sector increases CO2 emission in both long and short run. The VECM Granger causality analysis indicates the bidirectional relationships between CO2 emission, industrial growth and aggregated and disaggregated (coal, oil and natural gas) energy consumption.

Research limitations/implications

Based on the empirical results mentioned above, the study proposes the recommendation that China should focus on the use of natural gas in the industrial sector instead of coal and oil consumption. The most potent reasons for such a transformation are twofold: natural gas is much more environment-friendly, thus being a much lesser polluting source of energy, and, most significantly, such a change would have no adverse impact upon the output level.

Originality/value

This study contributes to the existing literature on estimating CO2 emission by using aggregated and disaggregated energy consumption in case of China. Notwithstanding, it also adds to the existing applied literature by using newly developed combined cointegration to confirm and substantiate the cointegration relationship between the underlying variables. Moreover, this study incorporates the role of structural breaks while investigating CO2 emission function, which helps in providing more valuable policy suggestions.

Details

International Journal of Energy Sector Management, vol. 12 no. 1
Type: Research Article
ISSN: 1750-6220

Keywords

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Article
Publication date: 11 July 2016

Chin-Yee Gan, Lee-Lee Chong and Zauwiyah Ahmad

The purpose of this paper is to investigate the impacts of Financial Reporting Standards (FRS)139 adoption on value relevance of financial reporting for non-financial…

Abstract

Purpose

The purpose of this paper is to investigate the impacts of Financial Reporting Standards (FRS)139 adoption on value relevance of financial reporting for non-financial public listed companies in Malaysia.

Design/methodology/approach

Multiple regressions were applied in this study to explore the value relevance of financial reporting upon FRS139 adoption.

Findings

The finding indicates that book value of equity and net income after tax are significant in jointly explaining the variations associated with market value for both the pre- and post-FRS139 period. However, the role of the book value of equity and the balance sheet in stock market valuation is becoming increasingly important compared with the role of net income after tax and income statement upon mandatory adoption of FRS139.

Originality/value

This study provides relevant insights into the potential consequences of FRS139 adoption in Malaysia. This is a significant event in the history of financial reporting in Malaysia. Given the importance and complexity of applying IAS39 in more developed countries, the results of this study add to current literature by providing a comprehensive empirical analysis on the effects of FRS139 adoption on financial reporting in Malaysia, a developing country where the economy is smaller, the financial market less efficient, and institutional settings different from developed countries.

Details

Managerial Finance, vol. 42 no. 7
Type: Research Article
ISSN: 0307-4358

Keywords

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Article
Publication date: 7 June 2011

Marliana Abdullah, Shahida Shahimi and Abdul Ghafar Ismail

The purpose of this paper is to assess key issues in measurement and management of operational risk in Malaysian Islamic banks.

Abstract

Purpose

The purpose of this paper is to assess key issues in measurement and management of operational risk in Malaysian Islamic banks.

Design/methodology/approach

Descriptive, analytical, and comparative analyses are used to discuss the issues of operational risk in Islamic bank through the implications associated with the Islamic banks' operational risk as well as the implications on risk measurement, risk management, and capital adequacy.

Findings

Discussion on operational risk in Islamic banks is significant and becoming more complicated compared with conventional banking because of the unique contractual features and general legal environment. While basic Basel II core principles of effective banking supervision apply equally well and ideally suit the Islamic banking institutions, risk measurement, and risk management practices still need specific adaptations to Islamic banks' operational characteristics. These particularities highlight the unique characteristics of Islamic banks and raise serious concerns regarding the applicability of the Basel II methodology for Islamic banks.

Research limitations/implications

This study has important implications for the understanding of operational risk, particularly the specific issues of the Islamic banks' operational risk that arise from the different nature of the financing and investment activities of the banks. With regard to measuring operational risk capital charge, the banks have to choose the right and effective method to ensure the operational risk capital charge will be more in line with the banks' actual risk profile and thus will provide the adequate capital and an improved buffer once the losses are announced.

Originality/value

The paper will fill the gap to the existing literature of operational risk in banking institutions especially Islamic banks, by showing the needs of specific adaption of operational risk measurement and risk management practices due to the nature of Islamic banks.

Details

Qualitative Research in Financial Markets, vol. 3 no. 2
Type: Research Article
ISSN: 1755-4179

Keywords

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