Browsing by Topic Conventional finance

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Showing results 1 to 10 of 199
  • the malaysian economy_pacific connections.pdf.jpg
  • Book


  • Abdul Kareem, Mohamed Ariff (1991)

  • This book examines the importance of the Pacific region to the Malaysian economy. Particular emphasis is placed on the contributions of the Pacific to Malaysia's trade expansion and industrial development through foreign investment. The book also traces the trends in the Pacific, discusses the possible impact of such trends on the Malaysian economy in the years ahead, and draws policy implications for the 1990s and beyond.

  • path_integral_derivation_u1_kac–moody_characters_weyl–kac_denominator_belal.pdf.jpg
  • Journal Article


  • Baaquie, Belal E. (1992)

  • The U(1) Kac-Moody character functions are derived from a path integral expression. It is shown that point-split regularization of the Virasoro generator also exactly regularizes the path integral. An exact derivation of the Weyl-Kac denominator is then given for an arbitrary Lie group using the semiclassical approximation and the results of the U(1) calculation.

  • long_distance_behavior_four-dimensional_nonlinear_SIGMA_model_anomaly_belal.pdf.jpg
  • Journal Article


  • Baaquie, Belal E.; Rajeev, S.G. (1993)

  • We study the low energy behavior of the four-dimensional nonlinear sigma model with anomaly using the 2+ expansion and renormalization group methods. It is shown that the theory has a non-trivial ir stable fixed point, in addition to the usual trivial fixed point. If pions happen to exist in the non-trivial phase, their propagator would scale at low energies with anomalous exponents.

  • item.jpg
  • Book


  • Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad; Md. Nassir, Annuar (1998)

  • This book is meant for both professionals and students of capital markets in an emerging economy. It is about financial behaviour of the Kuala Lumpur Stock Exchange. It provides for the first time care-fully-researched findings about the structure of pricing in this reasonably-well-organised emerging stock market in Malaysia, which is an attractive Asian location for portfolio investment. The findings reports in this book should provide useful benchmarks for practice by professionals in accounting, finance, financial economics, regulations, etc. Available in physical copy only (Call Number: fp HG 5750.6 A4 M697)

  • causality_between_financial_development_economic_growth_application_vector_error_correction_variance_decomposition_methods_saudi_arabia_masih.pdf.jpg
  • Journal Article


  • Mohammed Masih, Abul Mansur; al-Elg, Ali; Madani, Haider (2007)

  • This article makes an attempt to test the possible directions of causality between financial development and economic growth, which were labelled by Patrick (1966) as the supply-leading and demand-following hypothesis. Saudi Arabia is taken as a case study. The methods applied are the error correction and variance decompositions techniques including the most recently developed ‘long-run structural modelling (LRSM)’ (Pesaran and Shin, 2002), which by imposing exactly identifying and overidentifying restrictions on the cointegrating vector has taken care of a major limitation of the conventional cointegrating estimates in that they were atheoretical in nature. To the best of our knowledge, there has not been any study on this issue with the application of the techniques that incorporate ‘...

  • yen-dollar_exchange_rate__Malaysian_macroeconomic_dynamics_mansor.pdf.jpg
  • Journal Article


  • Ibrahim, Mansor H. (2007-09-01)

  • This paper empirically assesses the effect of the yen-dollar exchange rate on selected macroeconomic variables, namely, real output, price level, and money supply, for Malaysia. The results, which are based on a vector autoregressive framework, suggest that variations in the yen-dollar rate can have significant influences on Malaysia’s macroeconomic variables. More specifically, the yen-dollar depreciation leads to contraction in real GDP and money supply. These results are fairly robust to alternative model specifications. We believe that, apart from providing important insights into the interactions between the yen-dollar rate and domestic macroeconomic variables, our results contribute to the debate on choice of exchange rate regimes for Malaysia.

  • governance_structure_external_audit_price_evidence_emerging_economy_zulkarnain_shamsher.pdf.jpg
  • Journal Article


  • Muhammad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2008)

  • This study provides new evidence on the relationship between external audit price and corporate governance of the largest (based on market capitalization) 100 listed firms on both the main and second board of the Bursa Malaysia (BMB) (previously known as the Kuala Lumpur Stock Exchange). The findings show that for main board companies, external audit price is positively and significantly associated with corporate size, complexity and internal governance variable (i.e. director’s remuneration). For the second board firms, complexity, corporate size and internal governance variables (i.e. proportion of non-executive directors to total directors) were important determinants of external audit pricing. External audit price had a significant negative relationship with individual shareholders ...

  • efficiency_trading_halts_emerging_market_evidence_obiyathulla_eskandar_roslily.pdf.jpg
  • Journal Article


  • Bacha, Obiyathulla Ismath; Mohd Rasid, Mohamed Eskandar Shah; Ramlee, Roslily (2008)

  • This paper reports new findings on the price effect from trading halts - both voluntary and mandatory - over 2000-04 in an emerging share market, Malaysia. Based on our overall sample, trading halts lead to positive price reaction, increased volume, and increased volatility. We found evidence of information leakage resulting in a significant difference between voluntary and mandatory halts as well as the type of news released during halts to warrant such an impact. The duration of the halt has an isolated impact and is largely inconsequential. The frequency of halts does not seem to matter.

  • pre_post_crisis_analysis_stock_price_exchange_rate_baharom_royfaizal_muzafar.pdf.jpg
  • Journal Article


  • Abdul Hamid, Baharom; Chong, Razali Royfaizal; Habibullah, Muzafar Shah (2008)

  • The furore and chaos created by the Asian financial crisis have ignited many studies on numerous subjects, and it is believed that the crisis has changed the way nations being administered and policies formed and implemented especially those regarding monetary and fiscal policies. In this study Johansen (1991) cointegration method was used and the period was divided into two sub periods, albeit pre crisis and post crisis. The results obtained are similar with a number of past literatures pointing to no long run relationship between stock price and exchange rate for both periods.

  • item.jpg
  • Journal Article


  • Radam, Alias; Abdul Hamid, Baharom; Awang Marikan, Dayang Affizzah; Ismail, Farhana (2008-06-04)

  • This study is undertaken to investigate the extent to which mergers lead to efficiency by which services are provided to the public and the productivity of Malaysia’s banking institutions sector. The data cover the period 1993 to 2004, which includes the pre-merger years and the post-merger years. This study attempts to evaluate technical efficiency, efficiency change, technical change and productivity of commercial banks, finance companies and merchant banks using a non-parametric Data Envelopment Analysis (DEA) and Malmquist Index approach as the framework for the analyses. It is found that: (1) that on average, productivity across banking institutions increased at annual rate of 5.8% over the study period 1993 to 2004; (2) the results also indicated that almost all of the productivit...

Browsing by Topic Conventional finance

Showing results 1 to 10 of 199
  • the malaysian economy_pacific connections.pdf.jpg
  • Book


  • Abdul Kareem, Mohamed Ariff (1991)

  • This book examines the importance of the Pacific region to the Malaysian economy. Particular emphasis is placed on the contributions of the Pacific to Malaysia's trade expansion and industrial development through foreign investment. The book also traces the trends in the Pacific, discusses the possible impact of such trends on the Malaysian economy in the years ahead, and draws policy implications for the 1990s and beyond.

  • path_integral_derivation_u1_kac–moody_characters_weyl–kac_denominator_belal.pdf.jpg
  • Journal Article


  • Baaquie, Belal E. (1992)

  • The U(1) Kac-Moody character functions are derived from a path integral expression. It is shown that point-split regularization of the Virasoro generator also exactly regularizes the path integral. An exact derivation of the Weyl-Kac denominator is then given for an arbitrary Lie group using the semiclassical approximation and the results of the U(1) calculation.

  • long_distance_behavior_four-dimensional_nonlinear_SIGMA_model_anomaly_belal.pdf.jpg
  • Journal Article


  • Baaquie, Belal E.; Rajeev, S.G. (1993)

  • We study the low energy behavior of the four-dimensional nonlinear sigma model with anomaly using the 2+ expansion and renormalization group methods. It is shown that the theory has a non-trivial ir stable fixed point, in addition to the usual trivial fixed point. If pions happen to exist in the non-trivial phase, their propagator would scale at low energies with anomalous exponents.

  • item.jpg
  • Book


  • Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad; Md. Nassir, Annuar (1998)

  • This book is meant for both professionals and students of capital markets in an emerging economy. It is about financial behaviour of the Kuala Lumpur Stock Exchange. It provides for the first time care-fully-researched findings about the structure of pricing in this reasonably-well-organised emerging stock market in Malaysia, which is an attractive Asian location for portfolio investment. The findings reports in this book should provide useful benchmarks for practice by professionals in accounting, finance, financial economics, regulations, etc. Available in physical copy only (Call Number: fp HG 5750.6 A4 M697)

  • causality_between_financial_development_economic_growth_application_vector_error_correction_variance_decomposition_methods_saudi_arabia_masih.pdf.jpg
  • Journal Article


  • Mohammed Masih, Abul Mansur; al-Elg, Ali; Madani, Haider (2007)

  • This article makes an attempt to test the possible directions of causality between financial development and economic growth, which were labelled by Patrick (1966) as the supply-leading and demand-following hypothesis. Saudi Arabia is taken as a case study. The methods applied are the error correction and variance decompositions techniques including the most recently developed ‘long-run structural modelling (LRSM)’ (Pesaran and Shin, 2002), which by imposing exactly identifying and overidentifying restrictions on the cointegrating vector has taken care of a major limitation of the conventional cointegrating estimates in that they were atheoretical in nature. To the best of our knowledge, there has not been any study on this issue with the application of the techniques that incorporate ‘...

  • yen-dollar_exchange_rate__Malaysian_macroeconomic_dynamics_mansor.pdf.jpg
  • Journal Article


  • Ibrahim, Mansor H. (2007-09-01)

  • This paper empirically assesses the effect of the yen-dollar exchange rate on selected macroeconomic variables, namely, real output, price level, and money supply, for Malaysia. The results, which are based on a vector autoregressive framework, suggest that variations in the yen-dollar rate can have significant influences on Malaysia’s macroeconomic variables. More specifically, the yen-dollar depreciation leads to contraction in real GDP and money supply. These results are fairly robust to alternative model specifications. We believe that, apart from providing important insights into the interactions between the yen-dollar rate and domestic macroeconomic variables, our results contribute to the debate on choice of exchange rate regimes for Malaysia.

  • governance_structure_external_audit_price_evidence_emerging_economy_zulkarnain_shamsher.pdf.jpg
  • Journal Article


  • Muhammad Sori, Zulkarnain; Ramadili Mohd, Shamsher Mohamad (2008)

  • This study provides new evidence on the relationship between external audit price and corporate governance of the largest (based on market capitalization) 100 listed firms on both the main and second board of the Bursa Malaysia (BMB) (previously known as the Kuala Lumpur Stock Exchange). The findings show that for main board companies, external audit price is positively and significantly associated with corporate size, complexity and internal governance variable (i.e. director’s remuneration). For the second board firms, complexity, corporate size and internal governance variables (i.e. proportion of non-executive directors to total directors) were important determinants of external audit pricing. External audit price had a significant negative relationship with individual shareholders ...

  • efficiency_trading_halts_emerging_market_evidence_obiyathulla_eskandar_roslily.pdf.jpg
  • Journal Article


  • Bacha, Obiyathulla Ismath; Mohd Rasid, Mohamed Eskandar Shah; Ramlee, Roslily (2008)

  • This paper reports new findings on the price effect from trading halts - both voluntary and mandatory - over 2000-04 in an emerging share market, Malaysia. Based on our overall sample, trading halts lead to positive price reaction, increased volume, and increased volatility. We found evidence of information leakage resulting in a significant difference between voluntary and mandatory halts as well as the type of news released during halts to warrant such an impact. The duration of the halt has an isolated impact and is largely inconsequential. The frequency of halts does not seem to matter.

  • pre_post_crisis_analysis_stock_price_exchange_rate_baharom_royfaizal_muzafar.pdf.jpg
  • Journal Article


  • Abdul Hamid, Baharom; Chong, Razali Royfaizal; Habibullah, Muzafar Shah (2008)

  • The furore and chaos created by the Asian financial crisis have ignited many studies on numerous subjects, and it is believed that the crisis has changed the way nations being administered and policies formed and implemented especially those regarding monetary and fiscal policies. In this study Johansen (1991) cointegration method was used and the period was divided into two sub periods, albeit pre crisis and post crisis. The results obtained are similar with a number of past literatures pointing to no long run relationship between stock price and exchange rate for both periods.

  • item.jpg
  • Journal Article


  • Radam, Alias; Abdul Hamid, Baharom; Awang Marikan, Dayang Affizzah; Ismail, Farhana (2008-06-04)

  • This study is undertaken to investigate the extent to which mergers lead to efficiency by which services are provided to the public and the productivity of Malaysia’s banking institutions sector. The data cover the period 1993 to 2004, which includes the pre-merger years and the post-merger years. This study attempts to evaluate technical efficiency, efficiency change, technical change and productivity of commercial banks, finance companies and merchant banks using a non-parametric Data Envelopment Analysis (DEA) and Malmquist Index approach as the framework for the analyses. It is found that: (1) that on average, productivity across banking institutions increased at annual rate of 5.8% over the study period 1993 to 2004; (2) the results also indicated that almost all of the productivit...