Determinants Of Bank Profits And Net Interest Margins In East Asia And Latin America,
2010
Universiti Malaya
Determinants Of Bank Profits And Net Interest Margins In East Asia And Latin America, Mui Tin Low
Student Works (2010-2019)
This paper identifies the determinants of bank profits and net interest margins using bank level data, macroeconomic indicators and concentration ratio for ten countries in the East Asia and Latin America economies for the period of 2003–2008. A balanced panel of 167 banks operating in Argentina, Brazil, Colombia, Korea, Indonesia, Malaysia, Mexico, Thailand, Peru and Venezuela is used for this study. Of the 167 banks, 78 banks represent East Asia, while the balance 89 banks, Latin America. For purpose of this study, we first examine the determinants of bank profits and net interest margins based on the full sample of …
A Comparative Study Of The Performance, Macroeconomic Variables, And Firm's Specific Determinants Of Islamic And Non-Islamic Indices : The Malaysian Evidence.,
2010
Universiti Malaya
A Comparative Study Of The Performance, Macroeconomic Variables, And Firm's Specific Determinants Of Islamic And Non-Islamic Indices : The Malaysian Evidence., Mohamed Shikh Abu Baker Albaity
Student Works (2010-2019)
This thesis presents three related empirical studies on the performance and the long and short run dynamics between screened investment portfolio represented by Kuala Lumpur Syariah index (KLSI) and non-screened investment portfolio represented by Kuala Lumpur Composite index (KLCI) in Bursa Malaysia. The KLCI contains the largest 100 companies in Malaysia. This index facilitates as a barometer of the Malaysian economy while, the KLSI is the first Syariah compliant index in Bursa Malaysia. KLSI represents companies abiding to Islamic laws of transactions, which is determined by the scholars in the Shariah supervisory board employed by Bursa Malaysia. The KLCI represents …
Aplikasi Al-Mudarabah Dan Al-Musyarakah Dalam Produk-Produk Perbankan Islam : Kajian Di Bank Muamalat Indonesia, Jakarta.,
2010
Universiti Malaya
Aplikasi Al-Mudarabah Dan Al-Musyarakah Dalam Produk-Produk Perbankan Islam : Kajian Di Bank Muamalat Indonesia, Jakarta., Sarwedi Hasibuan
Student Works (2010-2019)
Abstrack
Peranan Bank Negara Malaysia (Bnm) Dalam Melaksanakan Dasar Kewangan : Analisis Dari Perspektif Ekonomi Islam.,
2010
Universiti Malaya
Peranan Bank Negara Malaysia (Bnm) Dalam Melaksanakan Dasar Kewangan : Analisis Dari Perspektif Ekonomi Islam., Mohd Rizal Abdul Ghani
Student Works (2010-2019)
Bank Negara Malaysia (BNM) is an institution responsible for implementing monetary policy in Malaysia. In this case, BNM has been playing six major roles in discharging this important responsibility. The roles are to define the main objective of its monetary policy, to build a proper monetary policy framework, to identify a set of suitable monetary policy instruments, to analyze the recent monetary and economic conditions, to regulate the cost and the size of credit and lastly to influence the direction of credit. This research discusses those roles and analyzes them from the view of the Islamic economic perspective in order …
Sukuk Ijarah : Konsep Dan Amalannya Dalam Pasaran Modal Islam Di Malaysia.,
2010
Universiti Malaya
Sukuk Ijarah : Konsep Dan Amalannya Dalam Pasaran Modal Islam Di Malaysia., Muhammad Azizur Rahman Ramli
Student Works (2010-2019)
Sukuk Ijarah is one of the financial certificates known in the Islamic capital market. This financial certificate is established by taking into consideration two major factors, firstly, preserving the conventional way of investment which is permissible in Islam and, secondly, conforming to the shariah law, as a new financial instrument in the Islamic capital market. Sukuk and Bond are two different instruments in its financial structure. Sukuk eliminates in its structure the use of riba and gharar (uncertainty). Moreover, its financial structure is based on Islamic securitisation concept and exchange contract, such as ijarah, murabahah, bay‘ bithamin ajil and others. …
Peranan Perbankan Islam Dalam Pengembangan Industri Kecil Dan Sederhana Di Kota Pekanbaru, Riau: Analisis Terhadap Instrumen Murabahah.,
2010
Universiti Malaya
Peranan Perbankan Islam Dalam Pengembangan Industri Kecil Dan Sederhana Di Kota Pekanbaru, Riau: Analisis Terhadap Instrumen Murabahah., Masriadi -
Student Works (2010-2019)
Islamic banking in general defined as the conduct of banking operation in consonance with Islamic principles of mu‘amalat. The emergence of interest – free financial institutions especially in predominantly Muslim countries, has added a new dimension to economic models. This Islamic banks have organized financial intermedians including al-murabahah which operate in accordance with the principles Islamic transactions. This dissertation explains the rol and practice of Islamic banking in the financing of the small and medium enterprises in Kota Pekanbaru, Riau, Indonesia using the murabahah instrument. The research found that Islamic banks play the important role in the development of SME …
Fungsi Majlis Penasihat Syariah Dalam Amalan Perbankan Islam Di Malaysia : Kajian Terhadap Bank Muamalat Malaysia Berhad Dan Rhb Islamic Bank Berhad.,
2010
Universiti Malaya
Fungsi Majlis Penasihat Syariah Dalam Amalan Perbankan Islam Di Malaysia : Kajian Terhadap Bank Muamalat Malaysia Berhad Dan Rhb Islamic Bank Berhad., Ahmad Faizol Ismail
Student Works (2010-2019)
The Syariah Advisory Council (SAC) is an advisory board established to provide an Islamic views on products offered by the banks. SAC supports these banks by ensuring that products and services provided are complied with the Islamic Law. The SAC has an important functions related to the Islamic mucamalat tenets. These functions include two aspects which are the aspect of Islamic legal setting or fatwa, and aspect of field monitoring on the implementation and application of fatwa that have been enforced. These aspects are rules by special committee, the committee for fatwa and research and the committee of implementation and …
List Prices, Sale Prices And Marketing Time: An Application To U.S. Housing Markets,
2010
The Ohio State University
List Prices, Sale Prices And Marketing Time: An Application To U.S. Housing Markets, Donald R. Haurin, Jessica L. Haurin, Taylor Nadauld, Anthony Sanders
Faculty Publications
Many goods are marketed after first stating a list price, with the expectation that the eventual sales price will differ. In this article, we first present a simple model of search behavior that includes the seller setting a list price. Holding constant the mean of the buyers’ distribution of potential offers for a good, we assume that the greater the list price, the slower the arrival rate of offers but the greater is the maximal offer. This trade-off determines the optimal list price, which is set simultaneously with the seller’s reservation price. Comparative statics are derived through a set of …
Tunneling As An Incentive For Earnings Management During The Ipo Process In China,
2010
Singapore Management University
Tunneling As An Incentive For Earnings Management During The Ipo Process In China, Jiwei Wang, Joseph Aharony, Hongqi Yuan
Research Collection School Of Accountancy
Using a sample of 185 Chinese IPO firms listed on the Shanghai Stock Exchange during the period 1999-2001, we show that related-party (RP) sales of goods and services could be used opportunistically to manage earnings upwards in the pre-IPO period. We also provide evidence that such behavior may be motivated by the prospect of tunneling opportunities in the post-IPO period, i.e., exploiting economic resources from minority shareholders for the benefit of the parent company. We provide evidence of one such opportunistic tunneling tool: non-repayment by Chinese parent companies of net outstanding corporate loans made to them by their newly listed …
Comparative Analysis Of The Financial Performance Of Nonprofit Organizations: Focusing On The Franklin County Senior Activity Center,
2010
University of Kentucky
Comparative Analysis Of The Financial Performance Of Nonprofit Organizations: Focusing On The Franklin County Senior Activity Center, Shinwoo Lee
MPA/MPP/MPFM Capstone Projects
The Franklin County Senior Activity Center is a nonprofit organization founded in 1966 to provide services to help older residents lead independent lives. Cooperating with twelve board members, a staff of 24 people operates the Center and makes huge efforts to accomplish its mission. The mission of the Center is to contribute to and empower the quality of life of the aging citizens in Frankfort and Franklin County, Kentucky. The Center delivers various public services to them including opportunities for socialization, health promotion, benefit counseling, transportation service, home care service, recreation and exercise programs, adult day care, caregiver support, and …
A Study Of The Effects Of Budget-Balancing Practices And Fiscal Policies On State Fiscal Health,
2010
University of Kentucky
A Study Of The Effects Of Budget-Balancing Practices And Fiscal Policies On State Fiscal Health, Candice Schultheis
MPA/MPP/MPFM Capstone Projects
During times of economic recessions, many states throughout the U.S. may experience budget pressures that impact their overall fiscal health. Kentucky, in particular, has been faced with structural budget imbalances, declining revenue receipts, and spending reductions. Although economic conditions greatly affect states’ abilities to maintain balanced budgets, other factors may contribute to the variation among states’ financial conditions. This study assesses the effect that budget-balancing strategies, processes, and policies have on states’ fiscal health, as measured by state fiscal peril scores reported by the Pew Center on the States and year-end budget balances as a percentage of expenditures estimated by …
Deposit Insurance Coverage, Ownership, And Banks' Risk-Taking In Emerging Markets,
2010
Milken Institute
Deposit Insurance Coverage, Ownership, And Banks' Risk-Taking In Emerging Markets, Apanard P. Angkinand, Clas Wihlborg
Business Faculty Articles and Research
We ask how deposit insurance systems and ownership of banks affect the degree of market discipline on banks' risk-taking. Market discipline is determined by the extent of explicit deposit insurance, as well as by the credibility of non-insurance of groups of depositors and other creditors. Furthermore, market discipline depends on the ownership structure of banks and the responsiveness of bank managers to market incentives. An expected U-shaped relationship between explicit deposit insurance coverage and banks' risk-taking is influenced by country specific institutional factors, including bank ownership. We analyze specifically how government ownership, foreign ownership and shareholder rights affect the disciplinary …
The Determinants Of Trade Credit Extension And The Problem Of Late Payment In The Malaysian Manufacturing Sector.,
2010
Universiti Malaya
The Determinants Of Trade Credit Extension And The Problem Of Late Payment In The Malaysian Manufacturing Sector., Teh Chee Ghee
Student Works (2010-2019)
This study investigates the determinants of trade credit extension and the association between late payment from trade debtors and profitability in the Malaysian manufacturing sector. It is based on exploratory data analysis and ordinary least squares (OLS) regressions on a crosssectional sample of 383 and 287 public-listed manufacturing companies, respectively, using audited financial statements for the financial year ending 2007/2008.Investment in accounts receivables is even higher than in inventories in the Malaysian manufacturing sector. Contrary to previous studies, this study finds that large companies,manufacturers with higher liquidity and with higher collateral assets extend less trade credit, indicating that the listed …
Why Does The Law Of One Price Fail? An Experiment On Index Mutual Funds,
2010
Yale University
Why Does The Law Of One Price Fail? An Experiment On Index Mutual Funds, James J. Choi, Xavier Gabaix, David Laibson, Brigitte C. Madrian
Faculty Publications
Experimental subjects review four S&P 500 index fund prospectuses and then allocate $10,000 across those funds. We randomly select subjects to be paid for their subsequent portfolio performance. Subjects cannot access any non-portfolio services such as financial advice from their selected funds. Nevertheless, they overwhelmingly fail to minimize their index fund fees. When we make fund fees salient and transparent, subjects’ portfolios shift towards lower-fee index funds, but over 80% still do not invest all of their money in the lowest-fee fund. When funds’ annualized returns since inception are made salient, portfolios shift towards index funds with higher returns since …
Executive Compensation And The Maturity Structure Of Corporate Debt,
2010
Lehigh University
Executive Compensation And The Maturity Structure Of Corporate Debt, Paul Brockman, Xiumin Martin, Emre Unlu
Department of Finance: Faculty Publications
Executive compensation influences managerial risk preferences through executives’ portfolio sensitivities to changes in stock prices (delta) and stock return volatility (vega). Large deltas discourage managerial risk-taking, while large vegas encourage risk-taking. Theory suggests that short-maturity debt mitigates agency costs of debt by constraining managerial risk preferences. We posit and find evidence of a negative (positive) relation between CEO portfolio deltas (vegas) and short-maturity debt. We also find that shortmaturity debt mitigates the influence of vega- and delta-related incentives on bond yields. Overall, our empirical evidence shows that short-term debt mitigates agency costs of debt arising from compensation risk.
Pemakaian Maqasid Al-Shari'ah Dalam Produk Takaful Keluarga Di Etiqa Takaful Berhad.,
2010
Universiti Malaya
Pemakaian Maqasid Al-Shari'ah Dalam Produk Takaful Keluarga Di Etiqa Takaful Berhad., Che Ismail Che Othaman
Student Works (2010-2019)
Takaful is one of the financial instruments that has its own importance. It is the fundamental to Islamic insurance and its existence is as an alternative to the present conventional insurance in the conventional world of banking and finance. Al-Takaful which is based on al-mudarabah, at-tabarru’ and al-wakalah is very supportive towards syara’ in facing the conventional insurance which contains the element of gharar, usury and gambling element. The existence of takaful has aroused various issues, among them is to what extend is the application of maqasid al-shari‘ah in all of the products offered either in Family Takaful or General …
Risk Modelling In Finance,
2010
Edith Cowan University
Risk Modelling In Finance, Dave Allen
ECU Research Week
Examines the measurement of risk in finance and the shortcomings of the various approaches to this measurement.
The Desire To Acquire And Ipo Long-Run Underperformance,
2010
Brigham Young University - Provo
The Desire To Acquire And Ipo Long-Run Underperformance, James C. Brau, Robert B. Couch, Ninon K. Sutton
Faculty Publications
We analyze a sample of 4,795 IPOs that went public between 1985 and 2003 to determine the impact of acquisition activity on long-run stock performance. After controlling for relevant factors, we find that IPOs that acquire within a year of going public significantly underperform for three-year holding periods following the first year, whereas non-acquiring IPOs do not significantly underperform over this time frame. In addition, firms that wait for more than a year after the IPO to become an acquirer do not underperform. Our event- and calendar-time results suggest that the acquisition activity of newly public firms plays a previously …
Dual-Track Versus Single-Track Sell-Outs: An Empirical Analysis Of Competing Harvest Strategies,
2010
Brigham Young University - Provo
Dual-Track Versus Single-Track Sell-Outs: An Empirical Analysis Of Competing Harvest Strategies, James C. Brau, Ninon K. Sutton, Nile W. Hatch
Faculty Publications
We investigate two non-traditional harvest strategies for selling a privately-held company. Dual-track private firms file for an IPO while also courting acquirers. These firms withdraw the IPO to be taken over. Dual-track public firms complete an IPO and are taken over shortly thereafter. Examining 679 takeovers from 1995–2004, we find private dual-track sell-outs earn a 22–26% higher premium and dual-track public sell-outs earn an 18–21% higher premium than single-track sell-outs. Larger, VC-backed, prestigious underwritten, and bubble-year firms have a higher propensity to take the dual-track path. The implication is that entrepreneurs may increase their harvest value by using a dual-track …
Regulatory Reform And Convergence In Banking: The Case Of China,
2010
Brigham Young University - Provo
Regulatory Reform And Convergence In Banking: The Case Of China, James C. Brau, Drew Dahl, Hongjing Zhang, Mingming Zhou
Faculty Publications
We examine the effect of regulatory reform on the asset allocation and capitalization of Chinese banks, 2002 to 2007, a period following China’s entry into the World Trade Organization (WTO). Our empirical evidence rejects the hypothesis that banks in the Big Four, majority state, majority private, and majority foreign categories have common targeted levels of loans and capital in relation to assets. With respect to rates of adjustment towards those targets, our evidence is mixed. Domestic banks exhibit convergence in behavior toward each other but remain distinct from majority foreign banks. Overall, our findings provide evidence that, while the structure …
