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

{"title":"CULTURAL AND NON-CULTURAL HOLIDAY EFFECT IN JAPANESE AND SOUTH KOREA STOCK MARKETS","authors":"Renogadewi Sandara Segaran, Chee Jiun Chia","doi":"10.51200/lbibf.v19i1.2930","DOIUrl":"https://doi.org/10.51200/lbibf.v19i1.2930","url":null,"abstract":"This paper investigated the existence of cultural and non-cultural holiday effect in Japanese and South Korea stock markets consisting of four selected stock indexes which are Nikkei 225, JASDAQ, KOSDAQ and KOSPI. Descriptive statistics and Ordinary Least Square (OLS) with dummy variables are adopted to examine the average returns and associated with the cultural and non-cultural holiday effect behavior. It is found that post-holiday and cultural post-holiday effects happened in Nikkei 225 while KOSDAQ only showed cultural post-holiday effect. On the other hand, insignificant holiday effect was found in JASDAQ and KOSPI. This holiday and cultural influences can be explained with the arguments from the trading behavior where both countries have their own cultural, own nation holidays and traditional days affecting the trading patterns in the stock markets.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115374140","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}

{"title":"HETEROGENOUS IMPACT OF GLOBALISATION ON INCOME INEQUALITY IN TURKEY","authors":"N. Ahmad","doi":"10.51200/lbibf.v19i1.3034","DOIUrl":"https://doi.org/10.51200/lbibf.v19i1.3034","url":null,"abstract":"Theoretical claims about the globalisation-income nexus imply that globalisation in general benefits all groups of countries, that more integrated economies tend to grow faster and economic growth usually improves economic performance, social and political relations. However, previous literature shows opposite findings, globalisation drops developing countries into an income inequality trap. As a developing country, Turkey qualifies as one of the more unequal economies. In view of this, the study suggests the impact of globalisation on income distribution in Turkey is Heterogeneous by implementing Quantile Regression (QR) analysis. In doing so, the possibility of effects of globalisation on unequal explains two levels of the income distribution, namely high-level income and low-level income. This finding provides a thorough explanation for each quantile response from the income distribution. It was determined that the impact of globalisation on the low-income level is greater than the impact on the high-income level in Turkey. In rapidly growing unequal distribution, the income gap between low and high-income levels is even in decline. Thus, Turkey’s government should pay greater attention to the low-income group in order to mitigate the negative effects of globalisation. As well as a policy recommendation, it is recommended that Turkey’s governments to reform and welcome globalisation activities such as trade and FDI. Due to this suggestion, Turkey is highly recommended to well prepare training workers, education platforms and tariff deregulations. In sum, foreign financing and integration with the international capital markets will increase the productive capacity in the low-level income group.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126488648","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}

{"title":"DETERMINANT FACTORS OF EQUITY-BASED CROWDFUNDING IN MALAYSIA","authors":"Dzuljastri Abdul Razak, Anwar Hasan Abdullah Othman, Syamsu Rizal Zulmi, I. Ismail, Sylla Sidiki","doi":"10.51200/lbibf.v19i1.2859","DOIUrl":"https://doi.org/10.51200/lbibf.v19i1.2859","url":null,"abstract":"Crowdfunding as a means for investment using Fintech is relatively new. The popularity of venture capital and angel financing as a source of funds for businesses has decreased due to the advent of Fintech. The services provided are similar to traditional finance, such as simple transactions to payments, brokering and risk management. However, entrepreneurs and project owners are linked to investors by means of digitalization platforms which enable greater participation in sourcing for capital. The objective of this research is to find factors that determine fintech investment using crowdfunding in Malaysia using Technology Acceptance Model (TAM) as its based theory. Four variables are used as measurements, namely perceived informativeness, network externality, return on investment and platform quality. Data is collected by means of questionnaires to investigate the validity of the proposed model. SPSS is then used to analyze the data collected using reliability, correlation and multiple regressions. The result indicated that the perceived usefulness is significantly supported by perceived informativeness, network externality and platform quality. Furthermore, the perceived ease of use is significantly supported by perceived informativeness, network externality and return on investment. The result has contributed to the body of knowledge in this emerging area. It also enables practitioners to determine the significant variables that influence the willingness of customers to place funds via equity-based crowdfunding platforms.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"61 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127579677","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}

{"title":"IMPACT OF COVID-19 PANDEMIC ON FIXED INCOME UNIT TRUST FUND AND EQUITY UNIT TRUST FUND PERFORMANCES: A COMPARATIVE ANALYSIS IN MALAYSIA","authors":"Puvannambehay A/P Tamil Selvam, Noor Zainab Tunggal","doi":"10.51200/lbibf.v19i1.2729","DOIUrl":"https://doi.org/10.51200/lbibf.v19i1.2729","url":null,"abstract":"The shock of the global COVID-19 pandemic is critical even compared to the great financial crisis of 2007–2008 (Sansa, 2020). This study emphasises the performances of equity unit trust funds and fixed income unit trust funds during the COVID-19 pandemic, applying daily data from January 2020 to June 2020. A total of 32 unit trust funds are selected for the study, consisting of 16 fixed income funds and 16 equity funds. The performance of the unit trust funds is examined by using the Sharpe ratio measure, Treynor ratio measure, and Jensen’s alpha measure to analyse the impact of COVID-19 on the funds. The findings of this research suggest a mixed result of performance, where some funds outperformed the market benchmark while others underperformed it. For the fixed income unit trust funds, both the average standard deviation and average beta underperformed the benchmark index. On the contrary, the total risk of equity funds is higher than the market benchmark, while systematic risk is lower than the market benchmark. Besides, based on the results of Jensen’s alpha, only a few unit trust funds have a positive alpha, implying that some of the fund managers are either good in market timing or in selecting unit trust funds. Investors and fund managers can benefit from this study when making decisions to enhance their portfolios’ performances during the crucial period. This study will also provide a general outlook on the behaviour and performance of unit trust funds in Malaysia during the selected period of the COVID-19 crisis.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-08-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121689619","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}

{"title":"DETERMINANTS OF PERCEPTION TOWARD LIFE INSURANCE AND ITS IMPACT ON INTENTION TO PURCHASE","authors":"T. Lim, Dayang Zuraini Dzulkifli, Zaiton Osman, Rosle Mohidin, Amer Azlan Abdul Jamal","doi":"10.51200/lbibf.v18i1.2735","DOIUrl":"https://doi.org/10.51200/lbibf.v18i1.2735","url":null,"abstract":"Life insurance is one of the solutions for managing personal financial risks. It is effective in protecting surviving individuals of families against loss of income resulting from the premature death of bread providers. This study aims to investigate the explanatory factors influencing perception toward life insurance. The research was underpinned by the Perception Formation Model and further supported results of previous findings. Using primary data drawn from respondents up to the age of 35 years old, results based on Variance-based Structural Equation Modelling (SEM) suggested intention to purchase life insurance was related by how people perceive the product itself. As expected, those who favorably perceive life insurance have more inclination to purchase. The resultant outcomes suggested social influence agents, including family members, peers and the Internet significantly explain peoples’ perception toward life insurance. The study implicated industry players in terms of the design of marketing mix and shed lights in better understanding of the complexity in the decision-making process with regards to life insurance purchase intention.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115693868","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}

{"title":"COVID-19 CRISIS’ CONSUMER IMPACT: DEVELOPING AN ADAPTIVE DECISION-MAKING MODEL","authors":"Suddin Lada, Mohamad Isa Abd Jalil, J. William, Pg Mohd Faezul Fikri Ag Omar","doi":"10.51200/lbibf.v18i1.2736","DOIUrl":"https://doi.org/10.51200/lbibf.v18i1.2736","url":null,"abstract":"The spread of and reaction to COVID-19 has made our families, organizations, and buyers everywhere are attempting to guarantee that they can adapt to this troublesome time. Everyone must comprehend the seriousness of the outbreak and the extraordinary threat to life posed by COVID-19. Since the movement control order (MCO) was enforced the buying behavior of the average Malaysian has changed. A lot of changes in how people consuming goods and services, forcing retailers to think out of the box to engage with customers. Consumer decision-making, buyer dynamic, and conduct change will quickly adjust dependent on a scope of individual and logical qualities. Our reasoning and arranging about how to explore the world can't depend as much on programmed practices. More than ever, this unprecedented situation has led us to focus on and re-evaluate the existing decision-making model. Therefore, the main objective of this study is to develop an adaptive customer decision-making model focused on the current situation of the outbreak. How have these changes in consumer behavior affected purchasing behavior? How do individuals, families, and businesses react? Building an adaptive decision-making model is significant as the current outbreak situation revealed new and unfamiliar variables and ready for new validation.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130610202","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}

{"title":"HOUSEHOLD EXPENDITURE ON SUGAR-ADDED FOODS AND BEVERAGES IN MALAYSIA: EVIDENCE FROM QUANTILE ESTIMATION","authors":"Y. Cheah, A. Abdul Adzis, J. Abu Bakar, S. Applanaidu","doi":"10.51200/lbibf.v18i1.2684","DOIUrl":"https://doi.org/10.51200/lbibf.v18i1.2684","url":null,"abstract":"The present study attempts to examine factors affecting household expenditure on sugar-added foods and beverages (SAFB) in Malaysia. The spike in sugar-related diseases and the lack of comprehensive study related to factors associated with consumption of added sugar in Malaysia are the motivations for the present study. Acquiring a better understanding of what kind people consume more or less SAFB is important for policy development. A nationally representative data with a large sample size, i.e., the Malaysian Household Expenditure Survey (HES) 2014, was used for secondary analysis. In the survey, a two-stage stratified sampling approach was adopted. The first stage was based on Enumeration Blocks (EBs), while the second stage was based on living quarters (LQs). Quantile regressions were utilised to analyse the effects of household heads’ demographic and household factors on quantiles of household expenditure on SAFB. On average, the monthly household income, age of household head and expenditure on tobacco were Ringgit Malaysia (RM) 5973.63, 46 years and RM 60.81, respectively. The majority of household heads were secondary educated (57%), Bumiputera (69%), males (85%), employed (93%) and married (80%). Education, age, ethnicity, employment status, marital status and smoking behaviour were associated with expenditure on SAFB. Households headed by individuals with no formal and primary-level education spent around RM 1.02-24.6 and RM 0.73-23.68 less on all the quantiles of SAFB, respectively, compared with households headed by individuals having tertiary-level education. An additional year of age of household heads increased all the quantiles of household expenditure on SAFB by RM 0.11-0.90. Compared to non-Bumiputera households, Bumiputera households spent approximately RM 1.02-2.53 more on 0.1-0.75 quantiles of SAFB. Households with employed and married heads spent about RM 1.11-9.16 and RM 1.28-6.41 more on all the quantiles of SAFB, respectively, than their counterparts with unemployed and single heads. Household expenditure on tobacco was positively associated with 0.25-0.9 quantiles of household expenditure on SAFB (RM 0.28-1.23). In conclusion, household heads’ demographic and household profiles played an important role in influencing quantiles of expenditure on SAFB. Therefore, as a nationwide policy towards reducing consumption of added sugar, intervention measures should be designed in light of these profiles.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"1969 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130090755","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}

{"title":"THE COVID-19 PANDEMIC: FACTORS TRIGGERING PANIC BUYING BEHAVIOUR AMONG CONSUMERS IN MALAYSIA","authors":"Haneffa Muchlis Gazali","doi":"10.51200/lbibf.v18i1.2690","DOIUrl":"https://doi.org/10.51200/lbibf.v18i1.2690","url":null,"abstract":"The primary aim of this paper is to assess the factors that trigger panic buying behaviour among consumers in Malaysia. The paper offers a conceptual framework in understanding the factors that trigger panic buying among consumers in Malaysia. Results indicate five important factors that trigger panic buying behaviour among consumers in Malaysia such as herd behaviour, social media exposure, anxiety sensitivity, price and product availability. The study contributes to our understanding of panic buying behaviour. The most important limitation lies in the fact that this study is based on conceptual in nature and has not been able to confirm the relationship between variables empirically. These findings are relevant to both practitioners, policymakers and researchers. These findings add to a growing body of literature on panic buying behaviour and help other researchers to design their study in panic buying milieu. A future study investigating the mentioned variables would be very interesting. In terms of directions for future research, further work could validate the relationship between mentioned variables and provide an empirical analysis. The importance and originality of this study is that it explores that factors that trigger panic buying behaviour among consumers in Malaysia.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"147 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134261722","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}

{"title":"RECEPTIVENESS OF GOLD ACCUMULATION PROGRAM IN MALAYSIA: AN EMPIRICAL INVESTIGATION","authors":"Hani Amirah Juisin, H. Amin","doi":"10.51200/lbibf.v18i1.2692","DOIUrl":"https://doi.org/10.51200/lbibf.v18i1.2692","url":null,"abstract":"Gold is credence as an essence of deluxe and wealth in the sight of humankind. History has witnessed that gold is one of the best high long-term investment returns. In Malaysia's context, gold investments are broken down into three (3) offerings. These include physical gold investments, gold investment accounts or gold savings accounts and blockchains for improved financial returns of the prospective gold investors or gold investors itself. Public Gold strengthens the emerging popularity of gold investment accounts in Malaysia through the offering of Gold Accumulation Program (GAP) as one of the gold investment account platforms for investors to diversify their investments. Through this facility, investors are hassle-free to invest and keep their gold with Shariah-based products. However, to what extent do people in East Malaysia are willing to perform in Gold Accumulation Program? It remains unexplored in the body of knowledge that warrants the undertaking of the current study to void the gap. This topic is of utmost importance. The significance of investing in Gold Accumulation Program (GAP) can solve the issues of Muslim investors. They are previously might be investing in forbidden forms of gold investments, which are non-Shariah compliant outlets. By all means, the current study examines the receptiveness of retail investors in performing the GAP in East Malaysia, where some deliberations of critical factors are brought into play.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121861690","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}

{"title":"REAL GDP GROWTH RATES OF THE ASEAN REGION: EVIDENCE OF SPILLOVERS AND ASYMMETRIC VOLATILITY EFFECTS","authors":"G. Tan, J. Diaz","doi":"10.51200/lbibf.v18i1.2687","DOIUrl":"https://doi.org/10.51200/lbibf.v18i1.2687","url":null,"abstract":"This paper identifies economic relations using real gross domestic product (GDP) within the five Associations of South-east Asian Nation economies namely: Indonesia, Malaysia, Philippines, Singapore and Thailand. Utilizing ARMA-GARCH, ARMA-EGARCH, ARMA-APARCH models, the study captures the presence of the leverage effect, and spillover of returns and volatility. Most economies except for Singapore are consistent with leverage effects, while the Philippines showed economic resilience with having symmetric volatility response. On one hand, Thailand’s economy has consistent negative one-way relationship on Malaysia’s economy for the three models. This paper suggests that ASEAN economies work together to improve bilateral relations and market integration by trading and investing; and cooperation in terms of food production and migrant workers condition. This will help to reinforce their economic and political relationships that can help boost their respective economies, and sense of regionalism. ASEAN should help each other by sharing their ways to improve the standards of living of their citizens, promotion of safer security and anti-terrorism activities, provide a safer place for the national and overseas workers, trade goods and sell in competitive prices, improve the level of education inside the country. Future studies can further extend data to include other ASEAN countries and also consider other political and economic organizations. A perceived limitation of the paper is the uncertainty of these five ASEAN-5 economies impact within the other major countries but to also other regional groupings and specific economies. In general, this paper can help policy-makers and researchers alike in better understanding economic relations and spillover effects of growth rates and volatility of real GDP. The paper offers further examination of the potential for further connection among the major ASEAN economies and to support existing integration policies.","PeriodicalId":163324,"journal":{"name":"Labuan Bulletin of International Business and Finance (LBIBF)","volume":"41 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-11-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126783686","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}