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Labuan Bulletin of International Business and Finance (LBIBF)最新文献

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TESTING FOR LINEAR AND NONLINEAR GRANGER CAUSALITY IN THE STOCK RETURN AND STOCK TRADING VOLUME RELATION: MALAYSIA AND SINGAPORE CASES 股票收益与股票交易量关系的线性与非线性granger因果关系检验:马来西亚与新加坡案例
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v9i.1345
Ong Sheue Li
{"title":"TESTING FOR LINEAR AND NONLINEAR GRANGER CAUSALITY IN THE STOCK RETURN AND STOCK TRADING VOLUME RELATION: MALAYSIA AND SINGAPORE CASES","authors":"Ong Sheue Li","doi":"10.51200/lbibf.v9i.1345","DOIUrl":"https://doi.org/10.51200/lbibf.v9i.1345","url":null,"abstract":"This study aims at examining the short-run linear and nonlinear Granger causality between stock return and trading volume in Malaysia and Singapore cases based on the Vector Autoregression (VAR) model and Taylor expansion of the nonlinear model, proposed by PéguinFeissolle, et al. (2008), respectively. We find evidence of significant bidirectional nonlinear causality between returns and trading volume in Malaysia case while unidirectional nonlinear causality from trading volume to stock return in Singapore case, which may establish useful base for future empirical work in considering nonlinearity studies for the dynamic relationship of stock return and trading volume.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114535906","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
PROFITABILITY OF TRADING RULES BASED ON THREE MOVING AVERAGES 基于三条移动平均线的交易规则的盈利能力
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v10i.1336
T. Chong, Jipei Li, Kun Ma
{"title":"PROFITABILITY OF TRADING RULES BASED ON THREE MOVING AVERAGES","authors":"T. Chong, Jipei Li, Kun Ma","doi":"10.51200/lbibf.v10i.1336","DOIUrl":"https://doi.org/10.51200/lbibf.v10i.1336","url":null,"abstract":"Conventional moving-average trading rules seldom use more than two moving averages. This article proposes new trading rules combining the use of short, medium and long-term moving averages. The trading strategies developed in this article are applied to 12 major stock market indices. For each trading rule, the profitability of the simple, weighted and exponential moving averages over a 15-year period are evaluated. Our moving-average trading rules perform remarkably well in the Greater China area, where some of the trading strategies generate an annualized return of 25%.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132161171","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
THE REAL EXCHANGE RATE MALAYSIA 马来西亚的实际汇率
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v10i.1337
Wong Hock Tsen
{"title":"THE REAL EXCHANGE RATE MALAYSIA","authors":"Wong Hock Tsen","doi":"10.51200/lbibf.v10i.1337","DOIUrl":"https://doi.org/10.51200/lbibf.v10i.1337","url":null,"abstract":"This study examines the real exchange rate determination in Malaysia. The results of the cointegrating vectors show that an increase in productivity differential, the real oil price or reserve differential will lead to an appreciation of the real exchange rate. The results of the generalised forecast error variance decompositions show that the real oil price is an important determinant of the real exchange rate. Generally, productivity differential, the real oil price, reserve differential, and the real interest rate differential are important in the real exchange rate determination.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131711324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
VERTICAL INTRA-INDUSTRY TRADE BETWEEN ASEAN-5 AND CHINA IN SITC 8 中国与东盟五国纵向产业内贸易(图8
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v11i.1329
Mui-Yin Chin, Chen-Chen Yong, Siew-yong Yew
{"title":"VERTICAL INTRA-INDUSTRY TRADE BETWEEN ASEAN-5 AND CHINA IN SITC 8","authors":"Mui-Yin Chin, Chen-Chen Yong, Siew-yong Yew","doi":"10.51200/lbibf.v11i.1329","DOIUrl":"https://doi.org/10.51200/lbibf.v11i.1329","url":null,"abstract":"It is noticeable that international production fragmentation which give rise to vertical intra-industry trade (VIIT) has became increasing important in Asian region. Endowed with abundant labour and huge domestic market, China has emerged as the major assembly centre. As such, ASEAN-5 and China have been aggressively engaged in VIIT in manufacturing goods. This study aims to identify the niches for each ASEAN-5 member in miscellaneous manufacturing sector (SITC 8) which accounted for most of the traditional labour-intensive manufacturing products. This study analyzes the VIIT between ASEAN-5 members and China in SITC 8 at four-digit level from 1993 to 2009. The decomposition-type threshold method is employed in this study. The decomposition analysis has identified the consistent highvalue vertical intra-industry (HVIIT) products for each ASEAN-5 member. These products provide synergy in strengthening the bilateral VIIT between each ASEAN-5 member and China.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133679797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
REPRESENTATIVE HEURISTICS AND THE AFTERMARKET DYNAMIC OF THE NEW LISTINGS IN MALAYSIA 马来西亚新上市公司的代表性启发和后市场动态
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v9i.1342
Fennee Chong
{"title":"REPRESENTATIVE HEURISTICS AND THE AFTERMARKET DYNAMIC OF THE NEW LISTINGS IN MALAYSIA","authors":"Fennee Chong","doi":"10.51200/lbibf.v9i.1342","DOIUrl":"https://doi.org/10.51200/lbibf.v9i.1342","url":null,"abstract":"This paper investigates the influences of representative heuristics and ex-ante factors on the immediate aftermarket dynamics of new issues. The two immediate aftermarket dynamics covered in this study are opening-day-spread and flipping activities. A total of 177 new issue samples listed on the Main Board of Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange) from 1991 to 2008 are used in this study. Results support a positive significant influence of representative heuristics on opening-day-spread. On the other hand, a negative relationship was reported between representative heuristics and flipping activities. Among the ex-ante variables included in the model, market condition was found to have predictive power over immediate aftermarket dynamics.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"42 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123728931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
PROFITABILITY OF TECHNICAL TRADING RULES IN ISLAMIC STOCK MARKETS 伊斯兰股票市场技术交易规则的盈利能力
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v10i.1338
T. Chong
{"title":"PROFITABILITY OF TECHNICAL TRADING RULES IN ISLAMIC STOCK MARKETS","authors":"T. Chong","doi":"10.51200/lbibf.v10i.1338","DOIUrl":"https://doi.org/10.51200/lbibf.v10i.1338","url":null,"abstract":"This paper examines the profitability of the moving average trading rule on the Islamic stock markets. We apply the trading rules associated with the 10-day, 20-day, and 50-day moving averages to 11 major Islamic stock market indices. It is found that, except Bangladesh, the moving average trading rules outperform the buy-and-hold strategy. The weighted moving average obtained higher return rates than other moving averages in most cases.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122609907","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
INVESTIGATING DETERMINANTS OF INTERNATIONAL TOURISTS’ INTENTION TO USE MOBILE TOURISM GUIDE: THAI NATION PARKS CONTEXT 调查国际游客使用移动旅游指南意图的决定因素:泰国国家公园背景
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v11i.1330
Numtip Trakulmaykee, Seng Chee Lim, Yaowalak Trakulmaykee
{"title":"INVESTIGATING DETERMINANTS OF INTERNATIONAL TOURISTS’ INTENTION TO USE MOBILE TOURISM GUIDE: THAI NATION PARKS CONTEXT","authors":"Numtip Trakulmaykee, Seng Chee Lim, Yaowalak Trakulmaykee","doi":"10.51200/lbibf.v11i.1330","DOIUrl":"https://doi.org/10.51200/lbibf.v11i.1330","url":null,"abstract":"This study investigates the determinants of international tourists’ intention to use mobile tourism guide in the context of Thai national parks. The study focuses on innovation characteristics as the determinants of international tourists’ intention to use mobile tourism guide. The innovation characteristics of mobile tourism guide consist of relative advantage, compatibility, simplicity, trialability, and mobility. A convenience sampling technique is used for data collection. The 708 data sets from international tourists are analyzed by SPSS. The factor analysis results suggests that two innovation characteristics of mobile tourism guide such as relative advantage and compatibility should be grouped into one characteristic, this characteristic is named practical advantage. The results of study also evidence that the determinants of international tourists’ intention to use mobile tourism guide in the context of Thai national parks are practical advantage, trialability, and mobility. The simplicity is not a determinant of international tourists’ intention to use mobile tourism guide. The empirical results of this paper extend the mobile information technology research in the context of mobile tourism guide, and provide a valuable guideline for developing and implementation mobile information technology.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124901923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
INTEGRATION ANALYSIS OF THE PEOPLE’S REPUBLIC OF CHINA STOCK MARKETS 中华人民共和国证券市场的整合分析
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v9i.1344
Wong Hock Tsen
{"title":"INTEGRATION ANALYSIS OF THE PEOPLE’S REPUBLIC OF CHINA STOCK MARKETS","authors":"Wong Hock Tsen","doi":"10.51200/lbibf.v9i.1344","DOIUrl":"https://doi.org/10.51200/lbibf.v9i.1344","url":null,"abstract":"This study analyzes the integration between the People’s Republic of China stock markets, namely Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), and Hong Kong Exchanges and Clearing Limited (HKEx), in both long run and short run for the period from 3rd July 1997 to 30th June 2010. As Hong Kong rejoined China in 1st July 1997, this study would imply a view on economy development tendency particularly financial market trends after the twelve years. The result obtained from the tests indicates that there is no long-run stable relationship between the three stock markets, but short-run causality exists.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"97 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122042092","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
EXCHANGE RATES AND MACROECONOMIC DETERMINANTS OF ASEAN-5 COUNTRIES 东盟五国的汇率和宏观经济决定因素
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2014-04-16 DOI: 10.51200/lbibf.v10i.1339
V. K. Liew
{"title":"EXCHANGE RATES AND MACROECONOMIC DETERMINANTS OF ASEAN-5 COUNTRIES","authors":"V. K. Liew","doi":"10.51200/lbibf.v10i.1339","DOIUrl":"https://doi.org/10.51200/lbibf.v10i.1339","url":null,"abstract":"Previous studies often provide evidence of the inadequacy of the monetary model of exchange rate. Numerous exchange rate researchers have advocated that omission of important variables may have led to such outcome. This study finds that standard monetary fundamentals together with stock prices differential and current accounts differential could establish stable relationship with exchange rates for majority of the ASEAN-5 countries. This finding suggests that besides the monetary variables, the differentials of stock prices or current accounts are crucial variables that cannot be neglected in the monitoring of exchange rate movements","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"139 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127926648","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
DETERMINANTS OF REPAYMENT PERFORMANCE IN MICROFINANCE PROGRAMS IN MALAYSIA 马来西亚小额信贷项目中还款表现的决定因素
Labuan Bulletin of International Business and Finance (LBIBF) Pub Date : 2013-12-08 DOI: 10.51200/lbibf.v11i.1328
Norhaziah Nawai, Mohd. Shariff
{"title":"DETERMINANTS OF REPAYMENT PERFORMANCE IN MICROFINANCE PROGRAMS IN MALAYSIA","authors":"Norhaziah Nawai, Mohd. Shariff","doi":"10.51200/lbibf.v11i.1328","DOIUrl":"https://doi.org/10.51200/lbibf.v11i.1328","url":null,"abstract":"This paper analyzes the repayment performance in microfinance programs in Malaysia that apply individual lending approach. The research framework of this study is built by four factors namely individual/borrower factors, firm/business factors, loan factors and institutional/lender factors as independent variables and repayment performance either paid on time, delinquent and default as dependent variables. The study used mixed methodology, combining between quantitative and qualitative data through questionnaire survey, indepth interviews, publish and unpublished reports. The data of this study is gathered from 401 respondents in Peninsular Malaysia through multistage random sampling. The data is analysed by descriptive analysis and multinomial logit model. Meanwhile, for qualitative data, a total of 21 respondents (7 respondents who paid on time, 7 respondents who delinquent and 7 respondents who default) were selected randomly and structured interviews with 6 MFI’s State Managers. The results show that in terms of borrower characteristics, only micro entrepreneur’s religious education level is statistically significant in the relationship between delinquent and good borrowers and between default and good borrowers. Whereas, in firm/business characteristics, the result shows that distance, business formality and total sales are statistically significant. The finding shows that total loan received, loan type and repayment schedule are the loan characteristics that affect micro entrepreneur’s loan repayment. In terms of institutional/lender characteristics, the finding shows that loan monitoring is statistically significant in the relationship between delinquent and good borrowers. This study contributes significantly to the knowledge of microfinance program at large, wherein it explains the factors affecting repayment performance and repayment performance plays an important role to ensure that MFIs can continue providing microfinance to the micro entrepreneurs without depending on subsidies.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126234075","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 20
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