Browsing by Topic Conventional finance

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Showing results 127 to 136 of 270
  • gold investment as an inflationary hedge.pdf.jpg
  • Chapter in Book


  • Authors: Ibrahim, Mansor H.; Sukmana, Raditya. (2009)

  • The paper assesses empirically the inflation-hedging properties of gold and, as comparison, of the stock market for Malaysia using montly data from July 2001 to May 2007. The results provide clear evidence that, over the sample period, gold serves as a good inflationary hedge. However, the hedging value seems to be lacking in stock prices. More specifically, from regression analyses, we note that gold provides a good hedge over all investment horizons considered and with better hedging at longer horizons. Moreover, from the VAR-based impulse response functions, the return on gold investment seems to increase immediately in response to inflation shocks. For the stock return, we find no...

  • governance_structure_external_audit_price_evidence_emerging_economy_zulkarnain_shamsher.pdf.jpg
  • Journal Article


  • Authors: 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 a...

  • granting_employee_stock_options_market_reaction_financial_performance_evidence_emerging_market_obiyathulla_eskandar.pdf.jpg
  • Journal Article


  • Authors: Bacha, Obiyathulla Ismath; Syed Mohd Zain, Sharifah Raihan; Mohd Rasid, Mohamed Eskandar Shah; Mohamad, Azhar (2009-09-01)

  • This paper examines several issues related to the implementation of ESOs among Malaysian companies. We examine a total of 52 companies, 26 ESO firms and their matched industry peers over a span of 12 years. We find ESO firm stocks to have marginally higher mean returns and lower volatility than do their pre-ESO peers. Malaysian companies are more likely to initiate ESOs when the market valuation of their stocks is low. If there is any timing, ESO initiation is timed to be most favourable to employee recipients. Market reaction to ESO announcements is significantly negative. Furthermore, stock prices do not seem to recover to pre-announcement levels during at least the subsequent 20 tr...

  • handbook_asian_sovereign_bond_markets_yield_risk_cover.jpg.jpg
  • Book


  • Authors: Ariff, Mohamed; Cheng, Fan Fah; Ramadili Mohd, Shamsher Mohamad (2013)

  • This book is on the pricing of sovereign debt in 17 bond markets across Asia: from Japan in the Far East and Israel in West Asia. The 17 markets include the very large bond market of Japan, which ranks equal among the largest five markets namely in the UK, the USA, Germany and Switzerland. Sovereign debt overhang is allegedly destabilizing the world economy from October 2011, since when the then Eurozone crisis transformed into government debt overhang crisis. This book is about the economics of how the sovereign debts are rated, priced and sold on the basis of perceived risk by investors buying and selling debt instruments. Developed economies' debt burden as a percentage of national...

  • handbook of investable world bond markets.pdf.jpg
  • Book


  • Authors: Ariff, Mohamed; Cheng, Fan Fah; Ramadili Mohd, Shamsher Mohamad (2016)

  • This book identifies how the major and some minor bond markets reacted to interest rate increases and decreases over the recent few years. As every investor knows excessive borrowings relative to the ability to service loans constitute sovereign debt crisis, and it is not limited only to developing countries as shown by the fall in bond values of profligate borrowers such as the Greece. This book is on the pricing of sovereign debt in 17 bond markets across the developed world, ones that have received most of the investors' money as investments.

  • house_prices_bank_credits_Malaysia_aggregate_disaggregate_analysis_mansor_siong.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Siong, Hook Law (2014)

  • The paper investigates the long run behavior of house prices and their dynamic interactions with bank credits, real output and interest rate for the case of Malaysia. Apart from the aggregate house prices, the analysis also covers various house price sub-indices, namely, the terraced house price index, the semi-detached house price index, the detached house price index and the high-rise price index. From the aggregate perspective, we note the presence of a long run relation among the variables. Moreover, the findings suggest the long run causality that runs from the included variables to both the aggregate house prices and bank credits. Dynamic interactions between house prices and ba...

  • house_price‐stock_price_relations_thailand_empirical_analysis_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2010)

  • The purpose of this paper is to empirically evaluate the wealth and credit-price effects in the relations between housing prices and stock prices for Thailand using quarterly data from 1995 to 2006. The analysis relies on a four-variable vector autoregression (VAR) framework consisting of house prices, stock prices, real output and consumer prices. Granger causality tests, impulse-response functions and variance decompositions simulated from the estimated VAR systems are adopted as bases for inferences. The results obtained from Granger causality tests, impulse response functions and variance decompositions all suggest a unidirectional causality that runs from stock prices to house pr...

  • how_inflationary_oil_price_hikes_disaggregated _bok_Thailand_using_symmetric_asymmetric_cointegration_models_mansor_kanokwan.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Chancharoenchai, Kanokwan (2014)

  • The present paper analyzes the inflationary effects of oil prices at the aggregate and disaggregated levels for Thailand using symmetric and asymmetric cointegration and error-correction modeling approaches. The cointegration test results suggest the presence of long-run relations between oil prices and the following price indices: aggregate consumer price index, non-food and beverage price index, housing and furnishing price index, energy price index, non-raw food and energy price index and transportation and communication price index. Meanwhile, food and beverage price index and raw food price index are not cointegrated with the oil prices. From the dynamic analyses, we uncover evid...

  • Human Capital and Economic Growth_Does Gender Matter_baharom.PDF.jpg
  • Academic Proceeding


  • Authors: N., Shalini; Abdul Hamid, Baharom; Kaur, Harpaljit (2012)

  • This study is set out to investigate the linkages between Economic Growth and Human Capital by Gender and Level of Education. The panel data was averaged at 7 points based on a sample of 62 countries spanning over the years 1970 to 1999. The Dynamic Panel System Generalized Method of Moments (SGMM) was employed on an Autoregressive Distributed Lag Model (ARDL) to analyze the effect of gender on the economic growth, which is the best method given the short time period and large cross sectional characteristic. Control variables such as gross capital formation, export volume, population and year effects were also decoded in order to obtain a more accurate and robust result trend. The dat...

  • Human capital and economic growth secondary school or higher school_baharom.pdf.jpg
  • Academic Proceeding


  • Authors: N., Shalini; Abdul Hamid, Baharom; Kaur, Harpaljit; Habibullah, Muzafar Shah; Mohd Yunus, Rossita (2012)

  • This study investigates the linkages between economic growth and human capital. It employs the dynamic panel system GMM estimators, focusing on secondary school and higher school education as the proxy for human capital. The data was averaged to 7 points based on a sample of 62 countries spanning from year 1970-1999. The data was extracted from the World Development Index 2007 and study by Barro and Lee (2010). The results are particularly interesting, contrary to the expectation; only the high school graduates affect the growth while the secondary school graduates show insignificant. With disaggregation of countries based on the stages of economic development, high school show greate...

Browsing by Topic Conventional finance

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 127 to 136 of 270
  • gold investment as an inflationary hedge.pdf.jpg
  • Chapter in Book


  • Authors: Ibrahim, Mansor H.; Sukmana, Raditya. (2009)

  • The paper assesses empirically the inflation-hedging properties of gold and, as comparison, of the stock market for Malaysia using montly data from July 2001 to May 2007. The results provide clear evidence that, over the sample period, gold serves as a good inflationary hedge. However, the hedging value seems to be lacking in stock prices. More specifically, from regression analyses, we note that gold provides a good hedge over all investment horizons considered and with better hedging at longer horizons. Moreover, from the VAR-based impulse response functions, the return on gold investment seems to increase immediately in response to inflation shocks. For the stock return, we find no...

  • governance_structure_external_audit_price_evidence_emerging_economy_zulkarnain_shamsher.pdf.jpg
  • Journal Article


  • Authors: 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 a...

  • granting_employee_stock_options_market_reaction_financial_performance_evidence_emerging_market_obiyathulla_eskandar.pdf.jpg
  • Journal Article


  • Authors: Bacha, Obiyathulla Ismath; Syed Mohd Zain, Sharifah Raihan; Mohd Rasid, Mohamed Eskandar Shah; Mohamad, Azhar (2009-09-01)

  • This paper examines several issues related to the implementation of ESOs among Malaysian companies. We examine a total of 52 companies, 26 ESO firms and their matched industry peers over a span of 12 years. We find ESO firm stocks to have marginally higher mean returns and lower volatility than do their pre-ESO peers. Malaysian companies are more likely to initiate ESOs when the market valuation of their stocks is low. If there is any timing, ESO initiation is timed to be most favourable to employee recipients. Market reaction to ESO announcements is significantly negative. Furthermore, stock prices do not seem to recover to pre-announcement levels during at least the subsequent 20 tr...

  • handbook_asian_sovereign_bond_markets_yield_risk_cover.jpg.jpg
  • Book


  • Authors: Ariff, Mohamed; Cheng, Fan Fah; Ramadili Mohd, Shamsher Mohamad (2013)

  • This book is on the pricing of sovereign debt in 17 bond markets across Asia: from Japan in the Far East and Israel in West Asia. The 17 markets include the very large bond market of Japan, which ranks equal among the largest five markets namely in the UK, the USA, Germany and Switzerland. Sovereign debt overhang is allegedly destabilizing the world economy from October 2011, since when the then Eurozone crisis transformed into government debt overhang crisis. This book is about the economics of how the sovereign debts are rated, priced and sold on the basis of perceived risk by investors buying and selling debt instruments. Developed economies' debt burden as a percentage of national...

  • handbook of investable world bond markets.pdf.jpg
  • Book


  • Authors: Ariff, Mohamed; Cheng, Fan Fah; Ramadili Mohd, Shamsher Mohamad (2016)

  • This book identifies how the major and some minor bond markets reacted to interest rate increases and decreases over the recent few years. As every investor knows excessive borrowings relative to the ability to service loans constitute sovereign debt crisis, and it is not limited only to developing countries as shown by the fall in bond values of profligate borrowers such as the Greece. This book is on the pricing of sovereign debt in 17 bond markets across the developed world, ones that have received most of the investors' money as investments.

  • house_prices_bank_credits_Malaysia_aggregate_disaggregate_analysis_mansor_siong.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Siong, Hook Law (2014)

  • The paper investigates the long run behavior of house prices and their dynamic interactions with bank credits, real output and interest rate for the case of Malaysia. Apart from the aggregate house prices, the analysis also covers various house price sub-indices, namely, the terraced house price index, the semi-detached house price index, the detached house price index and the high-rise price index. From the aggregate perspective, we note the presence of a long run relation among the variables. Moreover, the findings suggest the long run causality that runs from the included variables to both the aggregate house prices and bank credits. Dynamic interactions between house prices and ba...

  • house_price‐stock_price_relations_thailand_empirical_analysis_mansor.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H. (2010)

  • The purpose of this paper is to empirically evaluate the wealth and credit-price effects in the relations between housing prices and stock prices for Thailand using quarterly data from 1995 to 2006. The analysis relies on a four-variable vector autoregression (VAR) framework consisting of house prices, stock prices, real output and consumer prices. Granger causality tests, impulse-response functions and variance decompositions simulated from the estimated VAR systems are adopted as bases for inferences. The results obtained from Granger causality tests, impulse response functions and variance decompositions all suggest a unidirectional causality that runs from stock prices to house pr...

  • how_inflationary_oil_price_hikes_disaggregated _bok_Thailand_using_symmetric_asymmetric_cointegration_models_mansor_kanokwan.pdf.jpg
  • Journal Article


  • Authors: Ibrahim, Mansor H.; Chancharoenchai, Kanokwan (2014)

  • The present paper analyzes the inflationary effects of oil prices at the aggregate and disaggregated levels for Thailand using symmetric and asymmetric cointegration and error-correction modeling approaches. The cointegration test results suggest the presence of long-run relations between oil prices and the following price indices: aggregate consumer price index, non-food and beverage price index, housing and furnishing price index, energy price index, non-raw food and energy price index and transportation and communication price index. Meanwhile, food and beverage price index and raw food price index are not cointegrated with the oil prices. From the dynamic analyses, we uncover evid...

  • Human Capital and Economic Growth_Does Gender Matter_baharom.PDF.jpg
  • Academic Proceeding


  • Authors: N., Shalini; Abdul Hamid, Baharom; Kaur, Harpaljit (2012)

  • This study is set out to investigate the linkages between Economic Growth and Human Capital by Gender and Level of Education. The panel data was averaged at 7 points based on a sample of 62 countries spanning over the years 1970 to 1999. The Dynamic Panel System Generalized Method of Moments (SGMM) was employed on an Autoregressive Distributed Lag Model (ARDL) to analyze the effect of gender on the economic growth, which is the best method given the short time period and large cross sectional characteristic. Control variables such as gross capital formation, export volume, population and year effects were also decoded in order to obtain a more accurate and robust result trend. The dat...

  • Human capital and economic growth secondary school or higher school_baharom.pdf.jpg
  • Academic Proceeding


  • Authors: N., Shalini; Abdul Hamid, Baharom; Kaur, Harpaljit; Habibullah, Muzafar Shah; Mohd Yunus, Rossita (2012)

  • This study investigates the linkages between economic growth and human capital. It employs the dynamic panel system GMM estimators, focusing on secondary school and higher school education as the proxy for human capital. The data was averaged to 7 points based on a sample of 62 countries spanning from year 1970-1999. The data was extracted from the World Development Index 2007 and study by Barro and Lee (2010). The results are particularly interesting, contrary to the expectation; only the high school graduates affect the growth while the secondary school graduates show insignificant. With disaggregation of countries based on the stages of economic development, high school show greate...