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Articles 91 - 120 of 130

Full-Text Articles in Finance and Financial Management

A Study Of Stock Market Efficiency In Malaysia, Shook Chern Lee Jan 2000

A Study Of Stock Market Efficiency In Malaysia, Shook Chern Lee

Student Works (2000-2009)

This study examines the behaviour of the stock market in Malaysia and its implication on the weak form efficiency of the Efficient Market Hypothesis. Daily data of the number of stocks advancing, declining or remaining unchanged in price and the closing levels of the stock market indices of the Main Board, seven main sectors of the Main Board and the Second Board of the KLSE were used in this study. The period covered was from January 1994 to December 1998, a total of 1233 trading days. The results using the Theil-Leenders test indicates that there is some dependence in successive …

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Seasonality Effects Of Finance Stocks On The Kuala Lumpur Exchange, Foon Lee Ng Jan 2000

Seasonality Effects Of Finance Stocks On The Kuala Lumpur Exchange, Foon Lee Ng

Student Works (2000-2009)

The primary objective of this study is to investigate the seasonality effect or calendar anomalies of Finance stocks on the Kuala Lumpur Stock Exchange (KLSE) over the period of January 1992 to June 1999. Among the calendar anomalies investigated in this study are the day-of-the-week effect, the pre-holiday effect, the end-of-the-month effect and the firm size effect. Empirical results reveal that there is an existence of the day-of-the-week effect in the financial stocks for the entire sample period. The results are consistent with those previous studies in which Monday's returns are significantly negative whilst Friday's returns are positive. In particular, …

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Relationship Between Risks And Return In The Kuala Lumpur Stock Exchange, Keat Chye Khoo Jan 2000

Relationship Between Risks And Return In The Kuala Lumpur Stock Exchange, Keat Chye Khoo

Student Works (2000-2009)

Results of empirical tests on the relationship between stock returns and arious risk factors of sixty stocks in the Kuala Lumpur Stock Exchange over the eriod 1979-1998 are presented in this study. Overall the applicability of the capital sset pricing model in Kuala Lumpur Stock Exchange using monthly data is absent. 1arket risk alone or with another risk factors are unable to explain the variation in verage returns. However, there is a significant non-linear relationship between verage returns of individual stocks and market risk in two test periods 1983-86 and 995-98. This study also finds that other risk factors are …

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Behaviour Of Trading And Non-Trading Stock Returns In The Malaysian Stock Market, Lay Khong Tan Jan 2000

Behaviour Of Trading And Non-Trading Stock Returns In The Malaysian Stock Market, Lay Khong Tan

Student Works (2000-2009)

This study examines the stock returns and volatilities of trading and non­trading day for seven KLSE indices from January 3, 1994 to November 26, 1999. Six return series are computed. They are the overnight, open to close, morning, afternoon, close to close and open to open series. There is consistently positive overnight return throughout Monday to Friday. The weekend effect or Monday effect is significantly positive. The returns of the morning, open to close, close to close series are negative particularly on Monday, Tuesday and Thursday. Except for Monday, other weekdays have positive afternoon return. Mean and variance return are …

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The Effectiveness Of Malaysian Personal Income Tax Policy (1977-1997), Saidatulakmal Mohd Jan 2000

The Effectiveness Of Malaysian Personal Income Tax Policy (1977-1997), Saidatulakmal Mohd

Student Works (2000-2009)

This research aims to evaluate the effectiveness of the Malaysian Personal Income Tax Policy for the year 1977 - 1997. The areas of concentration are tax burden, poverty level, savings incentives, progressivity index and Inland Revenue Board's objectives. The methodologies to accomplish the mission are regression analysis, mathematical calculation, and index of progressivity. The research concludes that there is no significant relationship to explain any kind of relationship between the tax rates and the poverty level. Another finding shows that Malaysian personal income tax policy seems to be a good policy to induce private savings. Regression analysis, both under the …

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Long Run Determinants Of Malaysia Trade Balance : A Cointegration Study, Lok Sin Kuar Jan 2000

Long Run Determinants Of Malaysia Trade Balance : A Cointegration Study, Lok Sin Kuar

Student Works (2000-2009)

This paper aims to study the long run determinants of Malaysian trade balance the cointegration method by using quarterly data from 1973 1Q to 1998 4Q. In order to study the long run equilibrium relationship, trade balance is tested against other macroeconomic variables which resembles monetary policy, exchange rate policy and fiscal policy. The final results is that interest rate is the only variable found to be cointegrated with the trade balance. As such, it implies that interest rate may be an effective policy instrument to rectify the problem of trade imbalances in Malaysia. On the other hand, other policies …

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Analysing Random Access Memory Chip Yield Performance, Choy Sar Kam Jan 2000

Analysing Random Access Memory Chip Yield Performance, Choy Sar Kam

Student Works (2000-2009)

Despite advances in integrated circuits (IC) equipment and fabrication techniques, there still exist random fluctuations or statistical disturbances in any IC manufacturing facility. which can adversely affect the production yield. Actually devices and circuits are being designed with increasingly tighter parameter and performance margins. As a result, chip performance becomes even more sensitive to the statistical variations, and this may result in low production yield. One of the significant detractors of cost in a manufacturing line is yield loss due to contamination and the time required to increase the yield to profitable levels. Yield loss in a manufacturing line is …

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Comparison Between The Economic Fundamentals Of Malaysia And Singapore Prior To The 1997 Southeast Asian Currency Crisis, Mun Chow Lai Jan 2000

Comparison Between The Economic Fundamentals Of Malaysia And Singapore Prior To The 1997 Southeast Asian Currency Crisis, Mun Chow Lai

Student Works (2000-2009)

This research paper makes a comparative study on the economic fundamentals of Malaysia and Singapore prior to the 1997 Southeast Asian Currency Crisis (SACC). The overriding objective here is to determine the structural economic characteristics of Malaysia and Singapore prior to the SACC and to explore the possibility that underlying fundamentals might have contributed towards or exacerbated the SACC. The analysis begins with an overview of the economics of Malaysia and Singapore using graphical and tabular analysis of broad indices. This is followed by the formulation of simultaneous equation models, one for Malaysia and another for Singapore. Besides service balance …

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Health Care Financing In Malaysia, Zafar Ahmed Jan 2000

Health Care Financing In Malaysia, Zafar Ahmed

Student Works (2000-2009)

As the time passes the health care provision is getting more and more expensive. Traditionally the health care provision has been the duty of the governments, but because of increase in the cost of health care and fluctuation in the cost of health care, it is getting more difficult for the governments to maintain their role as health care provider. The governments want to become the regulators of health care services, rather than health care provider. The same is true for Malaysian government as well. This change of role is not that easy. Government has to consider many factors, the …

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Ownership Structure And Corporate Performance : A Study On Malaysian Public-Listed Companies, Yoke Ping Lua Jan 2000

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 …

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The Selective Capital And Exchange Controls In Malaysia : A Malaysian Perspective, Muhamad Shukri Abdul Rani Jan 2000

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 …

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Afghanistan's Economic Potentials And Malaysian Entrepreneurs' Perceptions, Abdul Sattar Murad Jan 2000

Afghanistan's Economic Potentials And Malaysian Entrepreneurs' Perceptions, Abdul Sattar Murad

Student Works (2000-2009)

Afghanistan is a country that has started its economic development after the World War II, one of the very early beginners in launching its economic development programs; it is one of the least developed countries in Asia. This study reviews the economic potentials of Afghanistan including mineral, water, land resources and perception of Malaysian Investors. These two aspects of the study highlight the causes of low economic development and factors responsible for it. This study attempts to examine four logically linked questions, i.e. (i) what are the trade potentials of Afghanistan? (ii) What are the mineral potentials of Afghanistan? What …

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The Effects Of Financial Liberalization On Monetary Policy : The Malaysian Experience, Valliammai R. M. Raghavan Jan 2000

The Effects Of Financial Liberalization On Monetary Policy : The Malaysian Experience, Valliammai R. M. Raghavan

Student Works (2000-2009)

Along with the scope of financial liberalization, various aspects of reform processes emerged and they include financial sector reform, deregulation, re-regulation and financial innovation. These reforms have changed the types of monetary instruments and targets used and consequently changed the mechanism of monetary transmission. Moreover, in the light of financial liberalization, the relationship between income and money has become increasingly unstable. All this posed a major challenge in the formulation and implementation of monetary policy because the basic framework within which monetary policy operates has changed. This research attempts to investigate the role of financial variables (monetary aggregates, credit aggregates …

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Banking Crisis In Malaysia : Causes, Recovery Measures Taken And Their Effectiveness, See Yan Chan Jan 2000

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 …

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Peranan Sekuriti Hutang Islam (Ids) Dalam Pasaran Modal Di Malaysia, Asmak Ab. Rahman Jan 2000

Peranan Sekuriti Hutang Islam (Ids) Dalam Pasaran Modal Di Malaysia, Asmak Ab. Rahman

Student Works (2000-2009)

This research is a comparative study of debt securities in the capital market which play a vital role in economic development. The aim of the study is to highlight the roles of Islamic debt securities or lsamic bond in Malaysian capital market which could be operationalized as an alternative to the conventional debt securities. The former operates in accordance with legal principles of Islamic commercial law such as bay' af-murabahah and bay' al-dayn. The study concludes that Islamic debt securities have an Islamic task as an alternative in the development of capital market in Malaysia.

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An Empirical Study On The Relationship Between Net Growth Of New Private Limited Company And Economic Factors, May Ling Ng Jan 2000

An Empirical Study On The Relationship Between Net Growth Of New Private Limited Company And Economic Factors, May Ling Ng

Student Works (2000-2009)

This study aims to investigate the relationship between the growth of private limited companies and economic factors such as interest rate, the rate of inflation, the cooperative income tax rate, the GDP growth rate and the unemployment rate during the last business cycle (1986 - 1996). The results show that the net growth rate of new private limited companies is correlated positively with the CDP growth rate. However, it has a negative, albeit weak, correlation with the interest rate. Economic factors such as the company income tax rate and the inflation rate do not exhibit any significant relationship with the …

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Corporate Governance In Selected Public Listed Companies In Malaysia, Sue Lin Lim Jan 2000

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 …

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Effective Debtors Management And Credit Control : The Key To Successful Businesses, Chee Ghee Teh Jan 2000

Effective Debtors Management And Credit Control : The Key To Successful Businesses, Chee Ghee Teh

Student Works (2000-2009)

Lack of information and control have been identified as major causes of corporate collapse, particularly in the aspect of debtors management and credit control (Argenti, 1976). Credit squeeze where during period of tight money, credit will be rationed out to those who are thought to be the best risks - as happened during the financial crisis since 1997, in which Malaysian corporations suffered deteriorated bad debts level, slow debts pile up and leading to cash-flow crisis and corporate restructuring . Have the past lessons being learned ? This study reviewed practical applications of the Malaysian Management Accounting Guideline No. 3 …

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The Impact Of Interest Rates And Share Market Performance On Klang Valley Property Prices : A Comparative Case Study, Chun Sing Yeo Jan 2000

The Impact Of Interest Rates And Share Market Performance On Klang Valley Property Prices : A Comparative Case Study, Chun Sing Yeo

Student Works (2000-2009)

This study is an attempt to determine the impact of some major aspect of interest (increase I decrease) and stock market (bull/ bear) on property prices at Klang Valley. Firstly, Malaysia has been witnessing an interesting debate over the issue of interest rates. Malaysian borrowers are paying 15 to 18 per cent per annum during the Asian Financial crisis cum stock market collapse. Prior to crisis, they were paying between 9 to 12 percent per annum. Secondly, the collapse of KLSE stock market .The KLSE suffered severe declines, as the composite index plunged from 1271.25 points on 25 February 1997 …

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A Comparative Study Of The Performance Of Commercial Banks, Finance Companies And Merchant Banks In Malaysia, 1990-1998, Kim Teck Yeap Jan 2000

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 …

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A Study On The Behaviour Of Selected Macroeconomic Indicators For Malaysia Prior To The Currency Crisis In 1997, Sena Herath Vijitha Jan 2000

A Study On The Behaviour Of Selected Macroeconomic Indicators For Malaysia Prior To The Currency Crisis In 1997, Sena Herath Vijitha

Student Works (2000-2009)

This paper attempts to develop an early warning system to predict currency crises that will allow managers not to be caught off-guard when a currency crisis hits the country. It is hoped that with an effective early warning system, managers will have adequate time to construct appropriate marketing and business strategies to counter the negative impact of a currency crisis. This research project examines the macroeconomic data generated by Bank Negara and the Ministry of Finance to see if correlations exist between macroeconomic measures and devaluation prospects as cited in the literature and whether these can be used in the …

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An Evaluation On Project Financing Under Islamic Banking, Sugunadevi Arjunan Jan 2000

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 …

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The Applicability Of The Dividend-Yield Investment Strategy At The Kuala Lumpur Stock Exchange, Allan, Kim Hon. Ngam Jan 2000

The Applicability Of The Dividend-Yield Investment Strategy At The Kuala Lumpur Stock Exchange, Allan, Kim Hon. Ngam

Student Works (2000-2009)

Many theories, techniques and strategies have been developed over the years on how to outperform the stock market. The objective of this research is to apply the "Dividend-Yield" strategy on the Kuala Lumpur Stock Exchange ("KLSE") to ascertain whether using such a strategy would provide superior investment return. Research findings using this strategy on the New York Stock Exchange ("NYSE") have shown favourable results. The data used in this research were sourced primarily from the KLSE, covering a period of 10 years from 1988 to 1997. This research is based on the premise that the investment universe comprises the component …

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The Performance Of Bumiputera-Controlled Companies At The Klse, Before And During The Currency Crisis, Nor Azizan Che Embi Jan 2000

The Performance Of Bumiputera-Controlled Companies At The Klse, Before And During The Currency Crisis, Nor Azizan Che Embi

Student Works (2000-2009)

The National Development Policy has successfully achieved their objectives to increase the number of Bumiputera companies that can play an important role in the economy. The number of Bumiputera-controlled companies has increased during the booming period (1995-1996). During this period, many Bumiputera individuals showed their capabilities to handle mega projects in Malaysia. In order to achieve the NDP objectives, many Bumiputera companies stick together and listed in the KLSE. However the Asian countries were hit by currency crisis in the middle of 1997. For almost two and half years, Malaysia experienced a turbulent economy caused by currency crisis. In order …

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The Effects Of Selective Capital Controls On Malaysia's Sustainable Economic Growth, Seok Foon Ong Jan 2000

The Effects Of Selective Capital Controls On Malaysia's Sustainable Economic Growth, Seok Foon Ong

Student Works (2000-2009)

The adoption of selective capital controls by Malaysia since September 1, 1998 remains a controversial issue. Among the opponents, selective capital controls would retard the economic growth of the country. The proponents argue that this measure is necessary to aid the government in regaining autonomy in monetary policy formulation and stabilizing the economy. The objectives of the study are: (i) to understand the contributory role played by the selective capital controls in coping with the recent currency crisis, (ii) to examine the appropriateness and effectiveness of the selective capital controls in relation to the fixed exchange rate, government fiscal and …

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The Impact Of Macroeconomic Variables On The Performance Of The Kuala Lumpur Stock Exchange (Klse), Muhummud Iqbal Khadaroo Jan 2000

The Impact Of Macroeconomic Variables On The Performance Of The Kuala Lumpur Stock Exchange (Klse), Muhummud Iqbal Khadaroo

Student Works (2000-2009)

Using the Pearson correlation analysis, factor analysis and regression analysis, this paper examines the impact of macroeconomic variables such as money supply, nominal interest rate, inflation, real activity and international reserves flow on the performance of the Kuala Lumpur Stock Exchange (KLSE). Pearson correlation analysis was used to determine the nature of the relationship between the macroeconomic variables and the Kuala Lumpur Composite Index (KLCI). Factor analysis was used to identify the subset of variables accounting for movement in the KLCI while regression analysis was used to determine the amount of the variation in the KLCI explained by the macroeconomic …

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A Comparative Analysis Of Conventional Banking System And Islamic Banking System In Malaysia In Relation To Loan Repayments, Baharin Salim @ Abdullah Jan 2000

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, BIMB has still unable to achieve its target of capturing a significant portion of this 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 the …

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Economic Value Added : Superior Measurement Of Shareholders' Value, Amalanathan Thomas Jan 2000

Economic Value Added : Superior Measurement Of Shareholders' Value, Amalanathan Thomas

Student Works (2000-2009)

In 1961, Prof. Franco Modigliani and Prof. Merton H. Miller (MM) said in their article Dividend Policy, Growth and The Evaluation of Shares: "To measure corporate performance for market capitalization, companies should consider earnings, cash flows, dividends and investment opportunities as alternatives". Stern Stewart, an advocate of Economic Value Added (EVA) approach to shareholder value understands the issues raised under the MM model which has led him to the view that "free cash flows is cash from operations that is available, attributable to both leaders and shareholders. In other words, it is the cash that is free for distribution to …

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A Psychographics And Demographic Profile Of Individual Investors Of Kuala Lumpur Stock Exchange, Ezlika Mohd. Ghazali Jan 2000

A Psychographics And Demographic Profile Of Individual Investors Of Kuala Lumpur Stock Exchange, Ezlika Mohd. Ghazali

Student Works (2000-2009)

The growing complexity and sophistication of the stock market had made stock broking a specialized profession. The era of globalization will pose a threat to securities industry in Malaysia. Thus, the importance of marketing in stock broking firms should not be taken for granted. In terms of market segmentation, demographic characteristics alone may no longer serve as a basis for segmenting individual investors. This had led to the development of psychographics research to more effectively communicate and market. By analyzing the characteristics of the individual investors, brokers in Malaysia will be in a better position to identify new opportunities. The …

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Impact Of Corporate Performance And Financial Policies On Shareholder Value In Malaysia, Kuan Hua Quah Jan 2000

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 …

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