Browsing by Topic Conventional finance::Economics

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Showing results 20 to 29 of 95
  • determinants_flood_fatalities_baharom.pdf.jpg
  • Journal Article


  • Authors: Padli, Jaharudin; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2013)

  • There is available evidence from different parts of the world that floods and storm account for about 67 percent of the natural disasters. While, earthquake, landslides, drought, extreme temperature, wildfire and volcano eruptions contribute to the remaining 23 percent. In many developing countries, the frequent occurrences of natural disasters, particularly floods are not uncommon. Yearly recurrence of floods bring devastate economies. The objective of the present study is to investigate factors that can mitigate the impact of floods on human fatalities and damages. We use a panel of 79 countries for the period of 1981-2005 and employ the two-step system GMM estimator to show...

  • disaggregated_consumer_prices_oil_price_pass-through_evidence_malaysia_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Said, Rusmawati (2012)

  • Purpose – The purpose of this paper is to analyze the oil price pass‐through into consumer price inflation for a developing country: Malaysia. The focus is on whether aggregate consumer prices and different consumer price components or sub‐price indexes are related in different ways to oil price in the long run and in the short run. Design/methodology/approach – The analysis adopts the Phillips curve framework augmented to include the oil price. In modeling, a proper consideration is given to the integration and cointegration properties of the variables under consideration. Moreover, the asymmetric effects of oil price changes are also examined. Findings – The paper finds evi...

  • dividend_tax_cuts_United_States_single-tier_tax_regime_Malaysia_share_price_reactions_tax_policy_changes_shamser.pdf.jpg
  • Journal Article


  • Authors: Selamat, Aslam; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2012)

  • There is a body of received theories which suggest that tax policy changes actually influence the value of corporations, and affect capital market values. There is strong evidence of share price being changed whenever good or bad news from tax changes occur. This paper provides a very short review of well-known theories, with the aim of showing how tax changes relating to dividends in Malaysia and in the USA do actually affect the values of shares in one mid-income and one high-income economy. Malaysia’s policy change in 2007 to streamline the dividend credit system into a single-tier tax system led to share price increases in Bursa Malaysia. Tax effect in the USA was tested using the...

  • do_Malaysian_horizontal_mergers_acquisitions_create_value_shamsher.pdf.jpg
  • Journal Article


  • Authors: Nai, Chiek Aik; Hassan, M. Kabir; Hassan, Taufiq; Ramadili Mohd, Shamsher Mohamad (2015)

  • This article examines the value-added phenomenon of Malaysian horizontal merger and acquisition activities (M&A) in the long run for the period 1994–2010. In this regard, this article used economic value-added (EVA) approach and cost-efficiency approach (stochastic frontier analysis (SFA)) to investigate synergistic benefits. The findings suggest that bidder firms experience no significant improvement in operating and financial efficiencies in the long run. Specifically, the operating performance of bidder firms deteriorated after the merger exercise, whereas the target firms had no significant improvement in operating performance over the same period. In summary, the findings suggest...

  • do_stock_prices_play_significant_role_formulating_monetary_policy_evidence_Australia_mansur.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; De Mello, Lurion (2009)

  • The theory of money demand has been explained using different models. Economic theory says that a basic money demand function depends on variables that reflect the level of transactions in the economy such as real income or real wealth, and opportunity cost variables such as the rate of interest or the rate of inflation. This setting does not take into account investment decision by investors, which are reflected in the stock price movements. The money demand function is one of the key models monetary policy makers’ use, as certain measures of money are reliably linked to objectives of policy. These may include intermediate targets such as long-run economic growth (represented by perc...

  • does_firms_political_connection_government_economic_value_shamsher.pdf.jpg
  • Journal Article


  • Authors: Chow-meng Chen; Ariff, Mohamed; Hassan, Taufiq; Ramadili Mohd, Shamsher Mohamad (2013)

  • This paper reports new findings about differential impacts political events have on share prices of firms connected to government in power compared to firms with no political connections. Political connection has been alleged as valuable in popular press in this mid-income economy studied, so it is worth an investigation. Significant share price increases of 4% or more abnormal returns accrue to connected firms relative to unconnected firms when identical political events occur. The impact is very pronounced during a severe economic crisis, when the stakes were high about an incumbent government being re-elected. Our finding of higher value of politically connected firms is due to the...

  • does_heterogeneity_investment_horizons_affect_portfolio_diversification_some_insights_M-GARCH-DCC_wavelet_correlation_analysis_mm.pdf.jpg
  • Journal Article


  • Authors: Najeeb, Syed Faiq; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2015)

  • Recent literature draws attention to the issue of whether heterogeneity in investment horizons has an effect on resulting investor exposures. In this article, using Malaysia as a case study, we make the first attempt to examine comovement dynamics of Islamic equity returns to identify international portfolio diversification opportunities for investors having heterogeneous investment horizons. We use three recent and appropriate methodologies: M-GARCH-DCC, Continuous Wavelet Transforms (CWT), and Maximum Overlap Discrete Wavelet Transform (MODWT). The results significantly tend to indicate that effective portfolio diversification opportunities between our sample markets exist mainly fo...

  • Does Paddy Cultivation in Malaysia Contribute to Increased CO2_baharom.pdf.jpg
  • Academic Proceeding


  • Authors: Alias, Emmy Farha; Abdul Hamid, Baharom; Radam, Alias; Yaacob, Mohd. Rusli (2012)

  • This study was conducted to investigate whether paddy cultivation in Malaysia do indeed contribute to increased CO2e. Johansen (1991) co-integration method was used to investigate the relationship between these variables, and the result clearly shows that they are highly co-integrated or literally means that they (both variables) share long term time trending patterns. The long run relationship is further investigated based on granger causality and vector error correction model (VECM), and the result again clearly shows that paddy production indeed granger causes the increased CO2e. Dynamic Ordinary Least Square (DOLS) method was also employed to check the robustness and consistency o...

  • does_environmental_kuznets_curve_exist_application_long-run_structural_modelling_saudi_arabia_mansur.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; De Mello, Lurion (2011)

  • There is an increasing move by developing and emerging economies to address their environmental issues. In the last few decades, we have witnessed an unprecedented state of global warming. Many scientists have argued that increasing carbon dioxide (CO2) emissions produce a massive build-up of greenhouse gas, which significantly contributes to warming global temperatures and associated climatic instability (IPCC, 1996). Some countries have signed to the Kyoto protocol in a bid to follow guidelines in reducing their emission levels by investing in infrastructure under the Clean Development Mechanism (CDM).

Browsing by Topic Conventional finance::Economics

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 20 to 29 of 95
  • determinants_flood_fatalities_baharom.pdf.jpg
  • Journal Article


  • Authors: Padli, Jaharudin; Habibullah, Muzafar Shah; Abdul Hamid, Baharom (2013)

  • There is available evidence from different parts of the world that floods and storm account for about 67 percent of the natural disasters. While, earthquake, landslides, drought, extreme temperature, wildfire and volcano eruptions contribute to the remaining 23 percent. In many developing countries, the frequent occurrences of natural disasters, particularly floods are not uncommon. Yearly recurrence of floods bring devastate economies. The objective of the present study is to investigate factors that can mitigate the impact of floods on human fatalities and damages. We use a panel of 79 countries for the period of 1981-2005 and employ the two-step system GMM estimator to show...

  • disaggregated_consumer_prices_oil_price_pass-through_evidence_malaysia_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Said, Rusmawati (2012)

  • Purpose – The purpose of this paper is to analyze the oil price pass‐through into consumer price inflation for a developing country: Malaysia. The focus is on whether aggregate consumer prices and different consumer price components or sub‐price indexes are related in different ways to oil price in the long run and in the short run. Design/methodology/approach – The analysis adopts the Phillips curve framework augmented to include the oil price. In modeling, a proper consideration is given to the integration and cointegration properties of the variables under consideration. Moreover, the asymmetric effects of oil price changes are also examined. Findings – The paper finds evi...

  • dividend_tax_cuts_United_States_single-tier_tax_regime_Malaysia_share_price_reactions_tax_policy_changes_shamser.pdf.jpg
  • Journal Article


  • Authors: Selamat, Aslam; Ariff, Mohamed; Ramadili Mohd, Shamsher Mohamad (2012)

  • There is a body of received theories which suggest that tax policy changes actually influence the value of corporations, and affect capital market values. There is strong evidence of share price being changed whenever good or bad news from tax changes occur. This paper provides a very short review of well-known theories, with the aim of showing how tax changes relating to dividends in Malaysia and in the USA do actually affect the values of shares in one mid-income and one high-income economy. Malaysia’s policy change in 2007 to streamline the dividend credit system into a single-tier tax system led to share price increases in Bursa Malaysia. Tax effect in the USA was tested using the...

  • do_Malaysian_horizontal_mergers_acquisitions_create_value_shamsher.pdf.jpg
  • Journal Article


  • Authors: Nai, Chiek Aik; Hassan, M. Kabir; Hassan, Taufiq; Ramadili Mohd, Shamsher Mohamad (2015)

  • This article examines the value-added phenomenon of Malaysian horizontal merger and acquisition activities (M&A) in the long run for the period 1994–2010. In this regard, this article used economic value-added (EVA) approach and cost-efficiency approach (stochastic frontier analysis (SFA)) to investigate synergistic benefits. The findings suggest that bidder firms experience no significant improvement in operating and financial efficiencies in the long run. Specifically, the operating performance of bidder firms deteriorated after the merger exercise, whereas the target firms had no significant improvement in operating performance over the same period. In summary, the findings suggest...

  • do_stock_prices_play_significant_role_formulating_monetary_policy_evidence_Australia_mansur.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; De Mello, Lurion (2009)

  • The theory of money demand has been explained using different models. Economic theory says that a basic money demand function depends on variables that reflect the level of transactions in the economy such as real income or real wealth, and opportunity cost variables such as the rate of interest or the rate of inflation. This setting does not take into account investment decision by investors, which are reflected in the stock price movements. The money demand function is one of the key models monetary policy makers’ use, as certain measures of money are reliably linked to objectives of policy. These may include intermediate targets such as long-run economic growth (represented by perc...

  • does_firms_political_connection_government_economic_value_shamsher.pdf.jpg
  • Journal Article


  • Authors: Chow-meng Chen; Ariff, Mohamed; Hassan, Taufiq; Ramadili Mohd, Shamsher Mohamad (2013)

  • This paper reports new findings about differential impacts political events have on share prices of firms connected to government in power compared to firms with no political connections. Political connection has been alleged as valuable in popular press in this mid-income economy studied, so it is worth an investigation. Significant share price increases of 4% or more abnormal returns accrue to connected firms relative to unconnected firms when identical political events occur. The impact is very pronounced during a severe economic crisis, when the stakes were high about an incumbent government being re-elected. Our finding of higher value of politically connected firms is due to the...

  • does_heterogeneity_investment_horizons_affect_portfolio_diversification_some_insights_M-GARCH-DCC_wavelet_correlation_analysis_mm.pdf.jpg
  • Journal Article


  • Authors: Najeeb, Syed Faiq; Bacha, Obiyathulla Ismath; Mohammed Masih, Abul Mansur (2015)

  • Recent literature draws attention to the issue of whether heterogeneity in investment horizons has an effect on resulting investor exposures. In this article, using Malaysia as a case study, we make the first attempt to examine comovement dynamics of Islamic equity returns to identify international portfolio diversification opportunities for investors having heterogeneous investment horizons. We use three recent and appropriate methodologies: M-GARCH-DCC, Continuous Wavelet Transforms (CWT), and Maximum Overlap Discrete Wavelet Transform (MODWT). The results significantly tend to indicate that effective portfolio diversification opportunities between our sample markets exist mainly fo...

  • Does Paddy Cultivation in Malaysia Contribute to Increased CO2_baharom.pdf.jpg
  • Academic Proceeding


  • Authors: Alias, Emmy Farha; Abdul Hamid, Baharom; Radam, Alias; Yaacob, Mohd. Rusli (2012)

  • This study was conducted to investigate whether paddy cultivation in Malaysia do indeed contribute to increased CO2e. Johansen (1991) co-integration method was used to investigate the relationship between these variables, and the result clearly shows that they are highly co-integrated or literally means that they (both variables) share long term time trending patterns. The long run relationship is further investigated based on granger causality and vector error correction model (VECM), and the result again clearly shows that paddy production indeed granger causes the increased CO2e. Dynamic Ordinary Least Square (DOLS) method was also employed to check the robustness and consistency o...

  • does_environmental_kuznets_curve_exist_application_long-run_structural_modelling_saudi_arabia_mansur.pdf.jpg
  • Journal Article


  • Authors: Mohammed Masih, Abul Mansur; De Mello, Lurion (2011)

  • There is an increasing move by developing and emerging economies to address their environmental issues. In the last few decades, we have witnessed an unprecedented state of global warming. Many scientists have argued that increasing carbon dioxide (CO2) emissions produce a massive build-up of greenhouse gas, which significantly contributes to warming global temperatures and associated climatic instability (IPCC, 1996). Some countries have signed to the Kyoto protocol in a bid to follow guidelines in reducing their emission levels by investing in infrastructure under the Clean Development Mechanism (CDM).