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- Economic Fundamentals; Malaysia and Singapore Comparison; Southeast Asian Currency Crisis; Total Factor Productivity; Real Effective Exchange Rate (2)
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- Bond rating changes; Share market reactions; Abnormal returns; Financial prospect; Corporate leverage (1)
- Capital Asset Pricing Model; Stock Returns Analysis; Risk Factors; Kuala Lumpur Stock Exchange; Asset Pricing Anomalies (1)
- Capital Structure; Corporate Leverage; Firm Performance; Long-Term Financing; Public Listed Companies Malaysia (1)
- Cash flow statements; Voluntary disclosure; Operating cash flows; Firm-specific characteristics; Malaysian companies (1)
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- Credit Lending Channel; Monetary Policy; Bank Loans; Money Supply; Malaysian Economy (1)
- Currency Crisis Impact; Exchange Rate Volatility; Malaysian Exports; Cointegration Analysis; Error Correction Model (ECM) (1)
- Day-of-The-Week Effect; Calendar Anomalies; Stock Return Volatility; KLSE Financial Stocks; GARCH Model Analysis (1)
- Economic Development Potentials; Foreign Investment Perception; Mineral and Trade Resources; Afghanistan Economic Policy; Malaysian Investors Attitudes (1)
- Economic Value Added (EVA); Market Value Added (MVA); Stock Returns; Corporate Performance; Shareholder Value (1)
- Economic Value Added (EVA); Stock Returns; Accounting Performance Measures; Price Earnings Ratio; Firm Performance (1)
- Efficient Market Hypothesis; Weak Form Efficiency; Stock Market Behaviour; KLSE Indices; Granger Causality Analysis (1)
- Financial Liberalization; Money Demand Function; Monetary Policy Effectiveness; Interest Rate Targeting; Monetary Aggregates (M1 and M3) (1)
- Financial Sector Master Plan (FSMP); Capital Market Master Plan (CMP); Financial Sector Development; Banking Industry; Capital Market; Malaysia (1)
- Insider Trading; Kuala Lumpur Stock Exchange; Abnormal Returns; Stock Market; Corporate Governance (1)
- Islamic Banking System; Conventional Banking Comparison; Bank Islam Malaysia Berhad (BIMB); Financial Performance Analysis; Banking Sector Evaluation (1)
- Islamic Banking; Project Financing; Mudharabah; Musyarakah; Islamic Financial System (1)
- Kuala Lumpur Stock Exchange; Stock Returns; Trading Day Effects; Return Volatility; Weekend Effect (1)
- Macroeconomic Policy; Financial Crisis Management; Capital Controls; Exchange Rate Regime; Economic Recovery Strategy (1)
- Malaysian Trade Balance; Cointegration Analysis; Interest Rate Policy; Macroeconomic Determinants; Trade Imbalance Adjustment (1)
- Managerial Ownership; Corporate Governance; Firm Performance; Public Listed Companies; Malaysia (1)
- Mergers and Acquisitions Performance; Non Financial Companies; Shareholder Value Analysis; Profitability Ratios; Capital Gains Evaluation (1)
- New Economic Policy; Ownership Structure; Bumiputera Companies; Corporate Performance; Public Listed Companies (1)
- Non-Performing Loans (NPLs); Banking Sector Fragility; Bank Restructuring; Prudential Regulation and Supervision; Financial Crisis Management (1)
- Ownership Structure; Corporate Performance; Malaysian Public Listed Companies; Insider Ownership; Financial Performance Analysis (1)
Articles 1 - 30 of 39
Full-Text Articles in Corporate Finance
Cash Flow Statement : An Empirical Study Of Voluntary Disclosure Practices Of Malaysian Companies, K. Ranchethamalar K.
Cash Flow Statement : An Empirical Study Of Voluntary Disclosure Practices Of Malaysian Companies, K. Ranchethamalar K.
Student Works (2000-2009)
Cash flow is a critical business solvency measure. The mandatory disclosures on cash flow statements do not provide all the necessary information to evaluate an entity's performance, liquidity and solvency. No prior studies so far, have thoroughly discussed the merits of providing additional information and relating it to firm specific variables. This study has two purposes. The first purpose is to provide empirical evidence on direct and indirect method of presenting operating cash flows. The second part of the study provides empirical evidence on the voluntary disclosure practices of Malaysian companies as encouraged by MASS 5 and relating it to …
Bond Rating Of Upgrades And Downgrades : The Impact On Stock Returns, C. Thaneswary Chelliah
Bond Rating Of Upgrades And Downgrades : The Impact On Stock Returns, C. Thaneswary Chelliah
Student Works (2000-2009)
This paper examines the share market reactions to bond rating changes of upgrades and downgrades. In term of analysis the upgrade and the downgrade category has been divided into changes based on the investment and speculative groups. The market model was used in determining abnormal returns for the study. This research provides the relation of changes taken place within the group and across the group. In addition, this paper is also examining the impact of rating changes due to financial prospect and the companies' leverage. All the analysis is based in Malaysian scenario . The result suggests that there were …
Persistence Of Profits : Intra-And Inter-Sector Comparisons, Liew Toh Peng
Persistence Of Profits : Intra-And Inter-Sector Comparisons, Liew Toh Peng
Student Works (2000-2009)
The dynamics of the competition in a market economy is expected to function continuously to eliminate the profit differentials among different firms or industries in the· long run. The persistence of profit rates differentials was estimated with an autoregressive model for a sample of firms listed in 9 sectors of the Main Board of Kuala Lumpur Stock Exchange (KLSE). We applied the methodology proposed by lm et al. ( I 997) to test for the persistence of profits in a panel data structure. A few specifications were considered and the autoregressive model without a lagged difference term was the best …
Risk-Based Audit Approach In The Internal Audit Department Of A Financial Institution : A Qualitative Study, Jans Mei Lin Lim
Risk-Based Audit Approach In The Internal Audit Department Of A Financial Institution : A Qualitative Study, Jans Mei Lin Lim
Student Works (2000-2009)
Traditionally, the internal auditing approach has been very procedures or process driven. Lately, however, there is greater emphasis on the risk-driven approach in an attempt to achieve greater effectiveness and efficiency in internal auditing. This new approach which is risk-driven is called Risk Based Auditing. A riskbased audit focuses on the organization's business risks, that is, risks which can affect a company's profitability and which hold the key to its survival. To analyze this risk, the internal auditor has to look into the working of the company to understand how it operates, and the short and long term business risks …
Performance Of Islamic Banking Scheme At Foreign Banks : A Malaysian Case Study, Luqyan Tamanni
Performance Of Islamic Banking Scheme At Foreign Banks : A Malaysian Case Study, Luqyan Tamanni
Student Works (2000-2009)
Using trend and ratio analysis, this study analyses the performance of Islamic banking operations at three foreign banks in Malaysia i.e. HSBC, OCBC and SCB:MB. Using the data from 1996-2000, it is possible to track progress and evaluate performances of the Islamic Banking Scheme (IBS) versus its conventional counterpart at these banks. It is also possible to examine the impacts of the Asian Crisis in 1997-98 to the Islamic banking operations, especially at the foreign banks. This study concludes that, during 1996-2000, Islamic banking operations at foreign banks have been performing considerably well, during and post the crisis. On average, …
A Comparison Between Eva And Conventional Accounting Performance Measures For Listed Companies In Malaysia, Sow Chen Wong
A Comparison Between Eva And Conventional Accounting Performance Measures For Listed Companies In Malaysia, Sow Chen Wong
Student Works (2000-2009)
This research was carried out with two primary objectives namely to investigate the relationship between Economic Value Added (EVA) and stock returns and how it compares with conventional accounting measures in explaining stock returns. The results indicate that there is a significant positive relationship between EVA and stock returns. Although the relationship is positive, it is relatively weak. All the accounting performance measures also exhibit a positive relationship with stocks. With regards to the ability of EVA in explaining stock returns, It was better compared to any of the accounting performance measures. The best accounting measure was price earnings ratio. …
Capital Structure, Financing Patterns And Financial Performances Of Kuala Lumpur Stock Exchange (Klse) Companies, Jin Ken Kam
Capital Structure, Financing Patterns And Financial Performances Of Kuala Lumpur Stock Exchange (Klse) Companies, Jin Ken Kam
Student Works (2000-2009)
This study has three main objectives. Firsttly, It examines how the capital structure or public listed companies in Malaysia differ accross time and industry. The companies are grouped acccording to KLSE's classification of companies. Secondly, the study looks into whether the financing of fixed assets is matched by long-term debt or covered by long-term capital. Thirrdly, it examines lhe effect of leverage on the performance of public listed companies in Mataysia over the past 10 years. The study uses the total debt to total asset ratio ta measure leverage. Financing patterns of companies are examined by using the total capitalization, …
Does The Value Investing Strategy Outperform The Klci? : (Empirical Refutation Against The Efficient Market Hypothesis In Its Semi-Strong Form), Jee Mun Wong
Student Works (2000-2009)
A value strategist is a fund manager who seeks to buy stocks that are a discount to their fair value and sell them· in excess of that value. Value strategists see value where many other market participants do not. Value investing strategy was popularized by Benjamin Graham and later, his protégé Warren Buffett. Graham, a finance professor, taught security analysis at Columbia University and retired a millionaire as a result of his investments in the NYSE. Together with David Dodd, he laid out the analytical framework for investing in stocks that are cheap on the basis of their underlying assets. …
Director Ownership And Financial Performance Of Listed Companies In Malaysia, Kiew Heong Yap
Director Ownership And Financial Performance Of Listed Companies In Malaysia, Kiew Heong Yap
Student Works (2000-2009)
The ability to align managerial and shareholder Interests via the managerial ownership of equity is an important topic of Inquiry, with the governance issues arising from the separation of ownership from control. The primarily US and UK based literature and findings suggest that management is aligned at low and possibly high levels of ownership but is entrenched (pursuing self interest) at intermediate ownership levels. This paper examines the relationship between the performance of public-listed companies (PLC) and director ownership in Malaysia using accounting and market performance measures. The empirical results of the paper shows that as director ownership in a …
Research And Development Practices Of Malaysian Companies : Current Perceptions Of The Directors, Ervina Alfan
Research And Development Practices Of Malaysian Companies : Current Perceptions Of The Directors, Ervina Alfan
Student Works (2000-2009)
Short-termistic perception; according to a study done in U.K is the main cause for declining UK companies competitiveness in the international market. Because of this perception, companies are less involved in R&D activities. This scenario could be detrimental to their survival in the long run. This paper tries to explore this issue from the Malaysian perspective. It attempts to determine the perceptions of the Finance Directors of Malaysian companies and to obtain an understanding behind their perceptions.
Eva Evidence On Public Listed Companies In Malaysia, Walter Lo
Eva Evidence On Public Listed Companies In Malaysia, Walter Lo
Student Works (2000-2009)
This study examines claims that Economic Value Added (EVA) better explain stock values and stock returns than traditional accounting measures. Also, this study examines the relationship between EVA and Marl
Credit-Lending Channel In The Malaysian Economy, Roza Hazli Zakaria
Credit-Lending Channel In The Malaysian Economy, Roza Hazli Zakaria
Student Works (2000-2009)
Credit-lending channel Is an alternative view on how the shift in monetary policy is translated into the change in loans and output. Nevertheless, this paper finds that the evidence on the existence of a distinctive credit-lending channel In the Malaysian economy is absent. Firstly, the episodes of tight monetary policy In the 1990s are Identified using the "narrative approach". Then, a preliminary analysis Is done to see the impact of tight monetary policy on banks' credit supply. It Is found that bank loans only decline In the most recent monetary tightening, September 1997 to August 1998. Next, an empirical analysis …
Insider Trading On The Kuala Lumpur Stock Exchange : An Empirical Study, Jooky Lim
Insider Trading On The Kuala Lumpur Stock Exchange : An Empirical Study, Jooky Lim
Student Works (2000-2009)
In Malaysia there are strict laws that prohibit insider trading. With the presence of such laws, this study explores whether insider trading exists on the Kuala Lumpur Stock Exchange (KLSE). Information on insider trading obtained from filing made to the KLSE by directors and substantial shareholders from 1 March 2000 to 7 March 2000 were analysed for abnormal returns. Based on daily price movements for 150 days before and after a transaction was carried out, it was observed that there are signals of insider trading on the KLSE. Insiders managed to maximise their average market adjusted returns prior to selling …
The Business Of Part-Time Mba Programmes In Klang Valley With Special Reference To Stamford College, Choy Fong Lee
The Business Of Part-Time Mba Programmes In Klang Valley With Special Reference To Stamford College, Choy Fong Lee
Student Works (2000-2009)
The financial sector is poised to enter a new era of institutional development and maturity with the unveiling of both the Financial Sector Master Plan (FSMP) by Bank Negara Malaysia and the Capital Market Master Plan (CMP) by the Securities Commission in 2001. FSMP is a blueprint to chart the way forward for the country's banking, insurance and other financial sectors for the next decade from year 2001 to 2010. It aims to develop a more resilient. competitive and dynamic financial system that will be able to meet the challenges of further liberalization and globalization. CMP is a financial development …
A Comparative Analysis Of Conventional Banking System And Islamic Banking System In Malaysia In Relation To Loan Repayments, Baharin Salim Abdullah
A Comparative Analysis Of Conventional Banking System And Islamic Banking System In Malaysia In Relation To Loan Repayments, Baharin Salim Abdullah
Student Works (2000-2009)
The birth of Bank Islam Malaysia Berhad (81MB) in 1983 symbolized the Malaysian Government's initiative in establishing an Islamic banking system. After 17 years of operation in a market mainly dominated by conventional banks, 81MB has still unable to achieve its target of capturing a significant portion of th is market. In this paper, the writer tries to observe the main differences between the conventional and Islamic banking system Malaysia in relation to loan repayments. Through this observation, strengths and weaknesses of the Islamic banking system can be identified. Recommendations can be made to help enhancing BIMB's performance in achieving …
Ownership Structure And Corporate Performance : A Study On Malaysian Public-Listed Companies, Yoke Ping Lua
Ownership Structure And Corporate Performance : A Study On Malaysian Public-Listed Companies, Yoke Ping Lua
Student Works (2000-2009)
This study examines the relationship between ownership structure and corporation performance on 100 Malaysian public-listed companies from 1993 to 1997. We first investigate the effect of ownership concentration on corporate performance, as measured by return on equity, market to book value ratio and return on assets. Further, we extend our analysis by examining the relation between insider ownership and the three accounting ratios. The results showed no significant relationship between ownership concentration or insider ownership and corporate performance for the selected corporations in 1993 - 1997. This study further confirms the studies conducted by Kwabena (1993) and Yee (1998) that …
The Selective Capital And Exchange Controls In Malaysia : A Malaysian Perspective, Muhamad Shukri Abdul Rani
The Selective Capital And Exchange Controls In Malaysia : A Malaysian Perspective, Muhamad Shukri Abdul Rani
Student Works (2000-2009)
The latest financial and currency crisis that struck Malaysia in 1997 has exposed several macroeconomic weaknesses within the Malaysian economy, in light of the huge influx of international capital flows and speculative activities, and highlighted once again the issue of premature capital account and financial liberalization. These weaknesses such as economic growth well above potential output, loss of efficiency in the economy, current account deficits, over dependence on the banking sector for loans, which were later used for unproductive investments such as those in the stock and property markets have made Malaysia vulnerable to the shocks that emanated from the …
Banking Crisis In Malaysia : Causes, Recovery Measures Taken And Their Effectiveness, See Yan Chan
Banking Crisis In Malaysia : Causes, Recovery Measures Taken And Their Effectiveness, See Yan Chan
Student Works (2000-2009)
This research project discusses the causes, recovery measures taken and the effectiveness of the measures to the Malaysian banking crisis in mid 1997. There are combination of factors that contributed to the crisis. Among the factors are excessive credit growth, over-exposure of lending to broad property sector and stock market, weaknesses in the banking system and external shock-currency attack. In addition, tight monetary policy which was designed to rescue the currency attack further aggravated the banking problem. Later in September 1998, Government further response by reverting the above tight monetary policy and gradually easing the monetary policy. Besides that, four …
Corporate Governance In Selected Public Listed Companies In Malaysia, Sue Lin Lim
Corporate Governance In Selected Public Listed Companies In Malaysia, Sue Lin Lim
Student Works (2000-2009)
During economic boom periods, most shareholders and company regulators paid little attention to good corporate governance, hence the reason for weak corporate governance. This study investigates whether weak corporate governance has significant effects on the corporate performance, investment and financing patterns of selected public listed companies in Malaysia. Previous researches done by Xu and Wang (1997) and Saldana (1999) seem to show that there is a close link between these variables. Based on the regression model formulated in this study, a relationship between weak corporate governance with respect to corporate performance, investment and financing patterns have been established. From the …
Corporate Performance And Ownership Structure : A Comparative Analysis Between Bumiputera And Non-Bumiputera Controlled Companies, Nor Aizurawati Aminudin
Corporate Performance And Ownership Structure : A Comparative Analysis Between Bumiputera And Non-Bumiputera Controlled Companies, Nor Aizurawati Aminudin
Student Works (2000-2009)
New Economic Policy (NEP) 1970-1990, in general had changed the outlook of Malaysian economy. Resulted from the policy, Bumiputera companies have been awaken to compete more aggressively with the Non-bumiputera companies in exploiting the country's wealth. This paper attempts to see the performance of bumiputera companies as compared to the non-bumiputera companies after the NEP era. The objective is to analyze whether ownership structure has influence over the performance of Malaysian public listed companies. Ownership structure is viewed from two perspectives, ethnic ownership and concentration of ownership. Performance of companies is mainly viewed from the aspect of accounting profit performance, …
A Comparative Study Of The Performance Of Commercial Banks, Finance Companies And Merchant Banks In Malaysia, 1990-1998, Kim Teck Yeap
A Comparative Study Of The Performance Of Commercial Banks, Finance Companies And Merchant Banks In Malaysia, 1990-1998, Kim Teck Yeap
Student Works (2000-2009)
Banking institutions play a substantial role, especially in a developing country like Malaysia, in mobilizing savings and channeling these resources for economic development. The growth of the banking institutions over the past two decades was achieved through the rapid build-up of an extensive branch network, the widening of banking services and the acceleration of credit activities. The focus of this paper is to evaluate the relative performance of banking institutions in Malaysia during the 1990-1998 period, using the CAMEL rating framework. The banking institutions included in this study are the major groups of banking institutions operating in Malaysia, namely commercial …
An Evaluation On Project Financing Under Islamic Banking, Sugunadevi Arjunan
An Evaluation On Project Financing Under Islamic Banking, Sugunadevi Arjunan
Student Works (2000-2009)
Although Islamic banking has been in operation fo r more than a decade in Malaysia, it's market share and growth seem to be quite limited and fa ll far short of earlier projection. This study attempts to investigate one type of Islamic banking product, that is project financing. The objectives of the study are to assess the current level of Islamic project financing and its associated growth, to identify problems faced in the implementation of Islamic project financing under the Mudharabah and Musyarakah concepts and to demonstrate with a real life case study the costs of financing under Islamic banking …
Impact Of Corporate Performance And Financial Policies On Shareholder Value In Malaysia, Kuan Hua Quah
Impact Of Corporate Performance And Financial Policies On Shareholder Value In Malaysia, Kuan Hua Quah
Student Works (2000-2009)
This study examines the relationships between firms' shareholder value levels and its corporate performance, financial policies and growth opportunities. A five-year period was used ranging from 1995 to 1999. and involved a total of 106 companies that are listed in the Kuala Lumpur Stock Exchange (KLSE). In attempting to increase knowledge regarding shareholder value issues in Malaysia, a better understanding about the various financial variables that affect shareholder value of companies in Malaysia is expected. Findings show that firms with higher growth opportunities tend to have higher shareholder value levels. The results are more mixed with regard to a company's …
Mergers And Acquistions : A Study On The Performance Of Non-Financial Companies In Malaysia, Maran Marimuthu
Mergers And Acquistions : A Study On The Performance Of Non-Financial Companies In Malaysia, Maran Marimuthu
Student Works (2000-2009)
This study examines the performance of non-financial companies that were involved in merger and acquisition activities between 1990 and 1995. A sample of 60 non-financial companies has been selected which are then split into two main groups; low sales growth companies and high sales growth companies. The objectives of the study are; to examine those companies' performance over the period 1996-1998, to compare their performance with respect to pre-crisis and crisis periods and to assess shareholder value appreciation in comparison between the low sales growth companies and high sales growth companies during their post-acquisition period. Capital gains are used to …
Performance Of Unit Trusts In Malaysia In The Period Of 1995 To 1999, Khing Wee Ong
Performance Of Unit Trusts In Malaysia In The Period Of 1995 To 1999, Khing Wee Ong
Student Works (2000-2009)
Malaysia has experienced one of the Vv'Orst economic and financial crises in the history, in the second half of 1997. Many people are aware on how the crisis affected the share market, but not many know about the effects to the unit trusts industry. This research provides an insight on how the unit trusts in Malaysia have performed during the financial crisis. To make comparisons, the period of the research has been divided into two sub-periods, the first one being prior to the financial crisis (March-95 to June-97) and the second or.e being during the financial crisis (July-97 to November-99). …
Performance Comparison Between Bank Islam Malaysia Berhad (Bimb) And Conventional Banks, 1989-1999, Chiu Sian Nee Alison
Performance Comparison Between Bank Islam Malaysia Berhad (Bimb) And Conventional Banks, 1989-1999, Chiu Sian Nee Alison
Student Works (2000-2009)
This is an empirical study which compares the performance of Bank Islam Malaysia Berhad (BIMB) with seven commercial banks for the period 1989-1999 in terms of growth, profitability, liquidity, solvency, credit risk, earnings risk and sectoral contribution to the economy. BIMB's performance during the period of the financial crisis 1997-1999 is also compared with fifteen commercial banks. Ratio analysis is used in these comparisons. This report is divided into five chapters. Chapter 1 discusses the fundamental principles and mode of operations of both conventional and Islamic banks. Chapter 2 reviews the literature pertaining to the performance of Islamic banks in …
Nonperforming Loans In Banking And Financial Sector, Ning Ning Chang
Nonperforming Loans In Banking And Financial Sector, Ning Ning Chang
Student Works (2000-2009)
It is crucially important to understand the connection between banking sector fragility and the nonperforning loans (NPLs) problem. The problem of mounting NPLs gained much prominence during the recession that hit particularly all countries over the world in 1980s. It is again become prominent following the financial crisis that recently hit the Asian countries. This study examines various factors contributing to the NPL problem, where some endogenous as well as exogenous factors are identified. Poor management and poor lending policies, fraud and embezzlement, moral hazard incentives, heavy government intervention and weaknesses in prudential regulation and supervision are among the factors …
The Impact Of The Travel Account On The Malaysian Balance Of Payments, Goh Mei Lee
The Impact Of The Travel Account On The Malaysian Balance Of Payments, Goh Mei Lee
Student Works (2000-2009)
The current account deficits in the balance of payments have been a serious concern to policy makers and academicians in their efforts to formulate possible ways to assist the current account deficits . This study looks at the Malaysian services account balances in the current account of the balance of payment with specific focus on the travel account position. The long-standing deficits in the Malaysian current account position due to the services account deficits have been rather prominent in the ear1y I980's due to excessive external debts . The net investment payment ranked the highest in terms of generating outflows …
The Effectiveness Of Monetary Policy In Malaysia In The Light Of Financial Liberalization, Farizah Ahmad
The Effectiveness Of Monetary Policy In Malaysia In The Light Of Financial Liberalization, Farizah Ahmad
Student Works (2000-2009)
Financial liberalization had caused instability in the money demand function as well as in the velocity of money. As a result, money supply is no longer reliable as the main intermediate target and there appeared to be a shift in the technique of monetary control towards greater reliance on interest rates as the main operating instrument. Developing countries that continue to emphasize on quantitative method in their monetary framework while at the same time implement financial refom1s may face the problem of a loss of monetary control and hence, monetary policy may possibly not be effective in influencing income or …
The Impact Of The Real Exchange Rates On Exports : The Malaysian Case, Lay Lian Chuah
The Impact Of The Real Exchange Rates On Exports : The Malaysian Case, Lay Lian Chuah
Student Works (2000-2009)
Many studies have yielded contradicting results on the impact of real exchange rate volatility on exports. Therefore, this paper attempts to examine the relationship between real exchange rate volatility and Malaysian exports. The model of this study is adapted from Caballero and Corbo's ( 1989) paper. In this respect, this paper also uses the same standard calculation for real exchange rate (RER) volatility. However, a minor adaptation was made whereby the standard deviation, the measurement of real exchange rate volatility is refined by using trade weighted settlement in its computation. This would be a more accurate way of measurement, as …