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Article

Imtiaz Sifat, Azhar Mohamad and Zarinah Hamid

Magnet effect entails a hypothesis in market microstructure entailing a systemic likelihood of prices being sucked toward the theoretical threshold. The purpose of this…

Abstract

Purpose

Magnet effect entails a hypothesis in market microstructure entailing a systemic likelihood of prices being sucked toward the theoretical threshold. The purpose of this paper is to investigate the existence of magnet effect in Bursa Malaysia via overnight returns.

Design/methodology/approach

This study investigates the existence of magnet effect via overnight returns in Bursa Malaysia by utilizing historical daily price data from 1994 to 2017 by probabilistic regression approaches. The authors divide the study period into three distinct regimes based on regulatory limit mechanisms.

Findings

Based on demarcated regimes, the authors find evidence of magnet effect in Bursa Malaysia throughout all regimes, with a heightened magnitude detected between 2002 and 2013. Moreover, upper limit scenarios exhibit a greater propensity for magnet effect. The authors end the paper with implications of the findings for portfolio managers, intraday traders, and policymakers.

Originality/value

The research is the first of its kind in attempting to measure the magnet effect in Malaysia via overnight jumps.

Details

Journal of Capital Markets Studies, vol. 2 no. 2
Type: Research Article
ISSN: 2514-4774

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Article

Azhar Mohamad, Mohd Hasrol Zakaria and Zarinah Hamid

The purpose of this study is to investigate the relationship between tax evasion and certain demographic factors such as location, engagement of tax agent, size and type…

Abstract

Purpose

The purpose of this study is to investigate the relationship between tax evasion and certain demographic factors such as location, engagement of tax agent, size and type of small- and medium-sized enterprises (SMEs) industry in Malaysia.

Design/methodology/approach

In this study, using proprietary tax audit data from the Inland Revenue Board of Malaysia (IRBM) on the 2011 tax returns of SMEs, the authors run a multiple regression analysis to examine the impact of location, agent, type of industry, size of enterprise and type of tax evasion on SMEs’ tax evasion in Malaysia.

Findings

The authors find that tax evasion among SMEs in Malaysia is the highest when the business is located in a suburban environment and has no tax agent. Tax evasion is also influenced by the size of the SME (micro or medium).

Originality/value

This study gives insight that the IRBM can use to aid its collection department in profiling SMEs that have a higher tendency to evade paying tax.

Details

Journal of Financial Crime, vol. 23 no. 4
Type: Research Article
ISSN: 1359-0790

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Article

Azhar Mohamad, Neazlin Radzuan and Zarinah Hamid

The purpose of this paper is to investigate the relationship between tax arrears and socio-psychological demographic factors on individual taxpayers as well as…

Abstract

Purpose

The purpose of this paper is to investigate the relationship between tax arrears and socio-psychological demographic factors on individual taxpayers as well as macroeconomic factors in Malaysia.

Design/methodology/approach

In this study, using proprietary data from Inland Revenue Board of Malaysia on individual income tax returns for the year of 2004 through 2012, the authors run a panel data fixed effect model analysis to examine the impact of socio-psychological demographic factors such as age, gender, marital status, income level, occupational sector, place of residence of individual tax payers as well macroeconomic factors such as real GDP, inflation and economic growth on tax arrears in Malaysia.

Findings

We find that, by and large, older male taxpayers in big towns, with high incomes, tend to accumulate tax arrears. Tax arrears are also significantly affected by real GDP, but not by marital status or occupational sector.

Originality/value

To the best of our knowledge, this is one the few studies that uses individual tax returns data to study determinants of tax arrears.

Details

Journal of Financial Crime, vol. 24 no. 1
Type: Research Article
ISSN: 1359-0790

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Article

Rosylin Mohd Yusof, Salina H. Kassim, M. Shabri A. Majid and Zarinah Hamid

The purpose of this paper is to analyze the possibility of relying on the rental rate to price Islamic home financing product.

Abstract

Purpose

The purpose of this paper is to analyze the possibility of relying on the rental rate to price Islamic home financing product.

Design/methodology/approach

By comparing two models consisting of either rental rate or lending rate (LR) and selected macroeconomic variables that could influence property value, the study focuses on the Malaysian data covering the period from 1990 to 2006. The study adopts several econometric time‐series analysis, such as the autoregressive distributed lag estimates, bi‐variate Granger causality, and multivariate causality based on the vector error‐correction model.

Findings

The study finds consistent evidence that the rental price (RP) is a better alternative than the LR to price Islamic home financing product. In particular, the rental rate is found to be resilient to short‐term economic volatility, while in the long run, it is truly reflective of the economic fundamentals.

Practical implications

This feature of the RP renders it as a fair pricing mechanism for the Islamic home financing product. Results of this study contribute towards finding an alternative benchmark for the Islamic home financing product which is currently using the conventional interest rate as its benchmark.

Originality/value

To the best of the authors' knowledge, the current study is the first of its kind which provides empirical evidence for the possibility of relying on the rental rate to price Islamic home financing product.

Details

Benchmarking: An International Journal, vol. 18 no. 1
Type: Research Article
ISSN: 1463-5771

Keywords

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Article

Norma, Saad, M. Shabri Abd. Majid, Salina Kassim, Zarinah Hamid and Rosylin Mohd. Yusof

The purpose of this paper is to investigate the efficiency of selected conventional and Islamic unit trust companies in Malaysia during the period 2002 to 2005.

Abstract

Purpose

The purpose of this paper is to investigate the efficiency of selected conventional and Islamic unit trust companies in Malaysia during the period 2002 to 2005.

Design/methodology/approach

The paper adopts Data Envelopment Analysis (DEA) to investigate efficiency, as measured by the Malmquist index, which is decomposed into two components: efficiency change and technical change indexes.

Findings

The study indicates that technical efficiency is the main contributor to enhancing the efficiency of the Malaysian unit trust industry. In addition, the larger the size of the unit trust companies, the more inefficient the performance. In comparing the efficiency of unit trust companies, the study finds that some of the Islamic unit trust companies perform better than their conventional counterparts.

Research limitations/implications

The study is limited to five Islamic unit trust companies. Thus, the findings of this study are indicative, but inconclusive for the unit trust industry as a whole.

Practical implications

The results have two important implications for both conventional and Islamic unit trust companies in Malaysia. First, the deterioration of total factor productivity (TFP) in the unit trust industry in Malaysia is due to the deficiency of innovation in technical components. Second, the size of the unit trust companies has an adverse effect on the TFP performance.

Originality/value

The contribution of this study is that it analyzes the efficiency of the two types of unit trust industry which are important and relevant for Malaysia. This significance arises from the dual financial system, in which the Islamic unit trust companies operate in parallel with their conventional counterparts. The comparison sheds some light on the performance of the Islamic unit trust companies, whose operations are based on profit‐sharing, in contrast to the conventional unit trust companies.

Details

International Journal of Managerial Finance, vol. 6 no. 1
Type: Research Article
ISSN: 1743-9132

Keywords

Content available
Article

Güler Aras

Abstract

Details

Journal of Capital Markets Studies, vol. 2 no. 2
Type: Research Article
ISSN: 2514-4774

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Article

Suaini Othman, Faizah Darus and Roshayani Arshad

The purpose of this paper is to analyse whether coercive isomorphism as imposed by regulatory authorities is an effective mechanism to promote a company's CSR reputation…

Abstract

Purpose

The purpose of this paper is to analyse whether coercive isomorphism as imposed by regulatory authorities is an effective mechanism to promote a company's CSR reputation in a developing country. The study seeks to consider the determinants of CSR reporting as such factors are deemed to influence the external perception of reputation.

Design/methodology/approach

The study employs institutional theory as the basis for explaining corporate responsible behaviour. In total, 117 companies in “three sensitive industries” for the year 2007 were selected. CSR reputation is analyzed based on a self‐constructed index.

Findings

Based on regression analysis, the study found that regulatory efforts are significant mechanisms in promoting CSR reputation. Surprisingly, these companies in the “sensitive industry” seem to neglect the importance of environmental reputation. However, institutional owners regard CSR reporting as a means to enhance their CSR reputation, while family‐owned companies do not appear to consider CSR reporting as an important channel to boost their reputation.

Research limitations/implications

The study only considers information from annual reports and the sample is limited to only three sectors that are regarded as “sensitive industries”.

Practical implications

Regulatory efforts have the prospect to become a significant force in promoting CSR reporting, as well as advancing CSR strategies in managing a company's reputation.

Originality/value

This study focuses on companies in a developing country in an attempt to understand the relationship between CSR reporting and companies' reputation. It adds substantially to the existing literature, the focus of which is mainly on CSR issues in developed countries. The study also provides an objective methodology in measuring CSR reputation.

Details

Social Responsibility Journal, vol. 7 no. 1
Type: Research Article
ISSN: 1747-1117

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Book part

Jamilah Ahmad and Suriati Saad

The goal of Corporate Social Responsibility (CSR) is to ensure that organisations embrace social responsibility and cultivate activities that provide positive impact on…

Abstract

The goal of Corporate Social Responsibility (CSR) is to ensure that organisations embrace social responsibility and cultivate activities that provide positive impact on the environment, society, consumers, employees, communities and all other members of the public sphere. Therefore, it is highly important to enhance and augment the teaching of CSR across various disciplines in higher learning institutions. Since 2006, most organisations in Malaysia have been highly encouraged to carry out their Social Responsibility activities, with the government providing support for CSR policies through its tax reduction incentives. Various CSR awards and acknowledgement of the awards provide high value and positive reputation to the organisations that implement CSR-related activities. As a result there is an increasing awareness among businesses to focus beyond compliance with laws in order to respond to the dynamic economic, societal and environmental changes.

Details

Education and Corporate Social Responsibility International Perspectives
Type: Book
ISBN: 978-1-78190-590-6

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Article

Zahid Hussain Hulio

The objective of this paper to assess the wind energy potential of the Sujawal site for minimizing the dependence on fossil fuels.

Abstract

Purpose

The objective of this paper to assess the wind energy potential of the Sujawal site for minimizing the dependence on fossil fuels.

Design/methodology/approach

The site-specific wind shear coefficient and the turbulence model were investigated. The two-parameter, k and c, Weibull distribution function was used to analyze the wind speed of the Sujawal site. The standard deviation of the site was also assessed for a period of a year. Also, the coefficient of variation was carried out to determine the difference at each height. The wind power and energy densities were assessed for a period of a year. The economic assessment of energy/kWh was investigated for selection of appropriate wind turbine.

Findings

The mean wind shear of the Sujawal site was found to be 0.274. The mean wind speed was found to be 7.458, 6.911, 6.438 and 5.347 at 80, 60, 40 and 20 m, respectively, above the ground level (AGL). The mean values of k parameter were observed to be 2.302, 2.767, 3.026 and 3.105 at 20, 40, 60 and 80 m, respectively, for a period of a year. The Weibull c m/s parameter values were found to be 8.415, 7.797, 7.265 and 6.084 m/s at 80, 60, 40 and 20 m, respectively. The mean values of standard deviation were found to be 0.765, 0.737, 0.681 and 0.650 at 20, 40, 60, and 80 m, respectively. The mean wind power density (W/m2) was found to be 287.33, 357.16, 405.16 and 659.58 for 20, 40, 60 and 80 m, respectively. The economic assessment showed that wind turbine 7 had the minimum cost/kWh US$ 0.0298.

Originality/value

The Sujawal site is suitable for installing the utility wind turbines for energy generation at the lowest cost; hence, a sustainable solution.

Details

World Journal of Science, Technology and Sustainable Development, vol. 18 no. 1
Type: Research Article
ISSN: 2042-5945

Keywords

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Article

Zahid Hussain Hulio and Wei Jiang

The purpose of this paper is to find out a new potential site for energy generation to maximize the energy generation via installing utility wind turbines.

Abstract

Purpose

The purpose of this paper is to find out a new potential site for energy generation to maximize the energy generation via installing utility wind turbines.

Design/methodology/approach

In this paper, Weibull two-parameter methodologies are used to determine the effectiveness of the wind speed at three different heights including 80, 60 and 30 m. Standard deviation and wind power density (WPD) are also calculated for the site. After analyzing the wind resource, the wind turbine selection is materialized to maximize the energy production, considering the best configuration of the wind turbines that is suitable for the site. In the end, economic aspect is also calculated.

Findings

The mean Weibull dimensionless parameter k is found to be 2.91, 2.845 and 2.617, respectively. The mean Weibull scale parameter c is found to be 6.736, 6.524 and 6.087 at the heights of 80, 60 and 30 m, respectively. The mean standard deviation is found to be 2.297, 2.249 and 2.157 at the heights of 80, 60 and 30 m at the heights of 80, 60 and 30 m, respectively. Wind power densities are calculated to be 265, 204 and 157.9 W/m2 at the heights of 80, 60 and 30 m, respectively (highest in the month of July when the mean wind speed is 7.707 m/s and WPD is 519 W/m2). Finally, site-specific economic analysis of wind turbines is carried out, which shows $0.0230 per kWh at the height of 80 m.

Originality/value

The results show that the site is beneficial for the installation of small and large wind turbines.

Details

World Journal of Science, Technology and Sustainable Development, vol. 15 no. 1
Type: Research Article
ISSN: 2042-5945

Keywords

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