Jurnal Institutions and Economies最新文献_第2页

Digitalisation: The Effectiveness of e-Learning in Capital Market Education 数字化:电子学习在资本市场教育中的有效性

Jurnal Institutions and Economies Pub Date : 2023-07-01 DOI: 10.22452/ijie.vol15no3.5

S. Arif, Mohd Firdaus Ahmad Tarmizi

{"title":"Digitalisation: The Effectiveness of e-Learning in Capital Market Education","authors":"S. Arif, Mohd Firdaus Ahmad Tarmizi","doi":"10.22452/ijie.vol15no3.5","DOIUrl":"https://doi.org/10.22452/ijie.vol15no3.5","url":null,"abstract":"In today’s digital economic landscape, financial literacy has become increasingly important in making informed financial decisions. To meet this growing need, Securities Industry Development Corporation (SIDC) has been entrusted to develop a targeted e-Learning capacity building initiative where everyone could participate without the limitations of cost, time and location. However, there has been no study to date exploring the effectiveness of the e-Learning programme in the field of the capital market education. Hence, this preliminary study aims to gain insight into the effectiveness of capital market e-Learning programme by adopting a convergent parallel mixed-method approach, collecting both quantitative and qualitative data based on Kirkpatrick's model (Level 2) to measure the level of knowledge transfer and satisfaction of learning among participants. The finding showed a positive knowledge transfer, with a mean score of 25.5% and the survey questionnaire submitted by 1,423 respondents revealed that the average course rating was 4.4 out of 5.0. Hence, this indicates the effectiveness of the programme. It is hoped that the findings can be used as a benchmark, reference or guidance for capital market training providers to develop a successful e-Learning programme.","PeriodicalId":393532,"journal":{"name":"Jurnal Institutions and Economies","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117239823","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

Behavioural Biases and Investment Decisions during COVID-19: An Empirical Study of Chinese Investors 新冠肺炎期间的行为偏差与投资决策——基于中国投资者的实证研究

Jurnal Institutions and Economies Pub Date : 2023-07-01 DOI: 10.22452/ijie.vol15no3.4

I. S. Hii, Xu Li, Haifeng Zhu

{"title":"Behavioural Biases and Investment Decisions during COVID-19: An Empirical Study of Chinese Investors","authors":"I. S. Hii, Xu Li, Haifeng Zhu","doi":"10.22452/ijie.vol15no3.4","DOIUrl":"https://doi.org/10.22452/ijie.vol15no3.4","url":null,"abstract":"Due the outbreak of the COVID-19 pandemic, China’s economy and securities market were significantly impacted, prompting the need to understand investor behaviour during this emergency. This study investigates the investment behaviour of Chinese investors during the COVID-19 pandemic, focusing on four types of investor biases: representativeness, overconfidence, disposition effect, and herding effect. The study utilized a quantitative research design, collecting data through an online questionnaire and a convenience sampling method from investors who traded in the Shanghai Stock Exchange and the Shenzhen Stock Exchange. Multiple linear regression analysis was employed to examine the impact of behavioural biases on investment decisions during the pandemic. Results showed that representativeness, disposition effect and herding effect significantly influenced investors’ investment decisions. This study contributes to the literature on behavioural finance by providing empirical evidence of the impact of behavioural biases on Chinese investors’ investment decisions during a crisis. The findings have practical implications for financial institutions to better understand the behaviour of Chinese investors during times of crisis and suggest the need for financial institutions to incorporate behavioural finance principles in their risk management practices.","PeriodicalId":393532,"journal":{"name":"Jurnal Institutions and Economies","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114761209","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: 1

Do Environmental, Social and Corporate Governance Practices Enhance Malaysian Public-Listed Companies Performance? 环境、社会和公司治理实践是否能提高马来西亚上市公司的绩效?

Jurnal Institutions and Economies Pub Date : 2023-07-01 DOI: 10.22452/ijie.vol15no3.1

Li-Chen Lee, Wee‐Yeap Lau, Tien-Ming Yip

引用次数: 0

A Five-Factor Asset Pricing Model of Shariah Compliant Firms in the United States

Jurnal Institutions and Economies Pub Date : 2023-07-01 DOI: 10.22452/ijie.vol15no3.3

Asyraf Abdul Halim

{"title":"A Five-Factor Asset Pricing Model of Shariah Compliant Firms in the United States","authors":"Asyraf Abdul Halim","doi":"10.22452/ijie.vol15no3.3","DOIUrl":"https://doi.org/10.22452/ijie.vol15no3.3","url":null,"abstract":"Shariah compliant firms operating in an environment with little to no access to a robust Islamic capital market (such as in the United States (US) stock market) will exhibit a consistent bias towards certain corporate financial behaviour. Does this bias subsequently lead to a skewed asset pricing behaviour? To answer this question, this paper investigates the asset pricing behaviour of multiple samples of Shariah compliant firms listed in the US as compared to an overall conventional sample by employing the Fama & French Five-Factor Model. By applying contemporary Shariah stock screening methodology on a sample of all stocks listed in the NYSE, NASDAQ and the IEX from January 2000 to December 2019, this paper shows that asset pricing behaviour differs not only between Shariah compliant and conventional samples, but also amongst Shariah compliant samples themselves. Ultimately, this paper shows that when deriving the appropriate expected return for Shariah compliant portfolios in the US, there are evidence to suggest that the Fama & French Five-Factor model is more suitable compared to the traditional Capital Asset Pricing Model (CAPM) since the additional risk premiums show consistent significance across groups of Shariah compliant firms.","PeriodicalId":393532,"journal":{"name":"Jurnal Institutions and Economies","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125967018","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 Road to Sustainable Investing: Corporate Governance, Sustainable Development Goals, and the Financial Market 可持续投资之路:公司治理、可持续发展目标和金融市场

Jurnal Institutions and Economies Pub Date : 2023-07-01 DOI: 10.22452/ijie.vol15no3.2

Ooi Kok Loang

{"title":"The Road to Sustainable Investing: Corporate Governance, Sustainable Development Goals, and the Financial Market","authors":"Ooi Kok Loang","doi":"10.22452/ijie.vol15no3.2","DOIUrl":"https://doi.org/10.22452/ijie.vol15no3.2","url":null,"abstract":"This study investigates the impact of corporate governance (CG) and sustainable development goals (SDGs) practices on financial markets and company performance in Malaysia compared to developed countries like the United States, United Kingdom, Canada, and Singapore. The study uses panel data regression models to analyse the impact of CG and SDG adoption on stock return, volatility, investor sentiment, profitability, liquidity, and solvency from 2017 to 2021. The findings show that CG and SDG practices have a positive impact on financial market and company performance in both developed and developing countries. However, the strength and specific variables of the relationship differ depending on the country context. In developed countries, board responsibilities, remuneration, engagement with stakeholders, SDG4 (Quality Education), and SDG10 (Reduce Inequalities) are positively associated with stock return. In contrast, audit committee effectiveness and SDG8 (Decent Work and Economic Growth), SDG11 (Sustainable Cities and Communities), and SDG13 (Climate Action) are significant in Malaysia and Singapore. The study emphasizes the significance of context-specific factors in determining the effect of CG and SDG practices on financial market and company performance. It recommends Malaysia learn from developed countries’ best practices and adopt a tailored approach to implementation based on its country context.","PeriodicalId":393532,"journal":{"name":"Jurnal Institutions and Economies","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122729708","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

Absorptive Capacity and Technology Spillovers: A Quantile Regression Approach 吸收能力与技术溢出:一个分位数回归方法

Jurnal Institutions and Economies Pub Date : 2023-04-01 DOI: 10.22452/ijie.vol15no2.1

Norhanishah Mohamad Yunus

{"title":"Absorptive Capacity and Technology Spillovers: A Quantile Regression Approach","authors":"Norhanishah Mohamad Yunus","doi":"10.22452/ijie.vol15no2.1","DOIUrl":"https://doi.org/10.22452/ijie.vol15no2.1","url":null,"abstract":"Employing a quantile regression estimator, the study presents new evidence on the role of human capital in exploiting the technology effects from foreign direct investment (FDI) in low-technology industries. A new model of human capital to capture the non-linearity of FDI effects according to employees’ educational qualifications was developed. This study examined whether workers’ absorptive capacity had different effects on FDI spillover at different points of conditional distribution. Although the study found that the ability of employees with degrees and diplomas to exploit foreign technology exceeds the median quantile, it also acknowledges the existence of both ‘over-skilled’ and ‘over-educated’ workers at a higher quantile of FDI distribution. As the problem of shortages and mismatch between skills and education for workers with degrees and diplomas still hinders firms from applying advanced technologies from FDI, this study proposes using the law to make firms work with universities. Firms could inform universities of the industry’s in-demand skills regularly and get involved in the development of the university curriculum to ensure that graduates are equipped with skills and knowledge that can be ‘transmitted’ to different industries.","PeriodicalId":393532,"journal":{"name":"Jurnal Institutions and Economies","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130232584","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

Skills Acquisition and Employability Among Arts and Social Sciences Interns in a Malaysian Public University 马来西亚公立大学艺术和社会科学实习生的技能获取和就业能力

Jurnal Institutions and Economies Pub Date : 2023-04-01 DOI: 10.22452/ijie.vol15no2.3

Mythili Monogaran, Thirunaukarasu Subramaniam

{"title":"Skills Acquisition and Employability Among Arts and Social Sciences Interns in a Malaysian Public University","authors":"Mythili Monogaran, Thirunaukarasu Subramaniam","doi":"10.22452/ijie.vol15no2.3","DOIUrl":"https://doi.org/10.22452/ijie.vol15no2.3","url":null,"abstract":"Many Malaysian employers feel that university curricula inadequately prepare graduates for the realities of the job market. The present study attempts to rank skills acquisition among interns at a Malaysian public university and identify the gaps through skills gap and radar analyses. Respondents comprised students from an Arts and Social Sciences faculty in a Malaysian public university who had undergone internship as well as the employers who conducted trainings for them. Using a simple random sampling method, 164 students and 43 employers provided responses. The largest gap between employers’ expectations and interns’ performance is seen for ‘values, attitudes and professionalism’. Employers tend to emphasise ‘values, attitudes and professionalism’ as an essential skill for employability. Positive qualities, such as having good work habits and attitudes, are valuable assets that need to be inculcated. Another skill that requires improvement is ‘communication, leadership and team skills’, as poor communication skills can become a serious obstacle for employability. This study provides insights from a dual perspective analysis through the identification of gaps between actual and expected intern performance. This information will be a valuable guideline in redesigning university modules to meet the demands of potential employers.","PeriodicalId":393532,"journal":{"name":"Jurnal Institutions and Economies","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133182033","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

Does Tourism Lead to Environmental Impact? Cross-National Static and Dynamic Evidence from the Ecological Footprint 旅游对环境有影响吗?来自生态足迹的跨国静态和动态证据

Jurnal Institutions and Economies Pub Date : 2023-04-01 DOI: 10.22452/ijie.vol15no2.5

Nur Ameera A. Jaz, M. Habibullah, Wan Azman Saini Wan Ngah, S. Kaliappan

引用次数: 0

Youth and Political Participation: What Factors Influence Them? 青年与政治参与:什么因素影响他们?

Jurnal Institutions and Economies Pub Date : 2023-04-01 DOI: 10.22452/ijie.vol15no2.4

Mohammad Tawfik Yaakub, Nurul Liyana Mohd Kamil, Wan Noor Azreen Wan Mohamad Nordin

引用次数: 0

Exploring Women's Retirement Literature through Bibliometric Analysis Using VOSviewer 利用VOSviewer对女性退休文献进行文献计量分析

Jurnal Institutions and Economies Pub Date : 2023-01-01 DOI: 10.22452/ijie.vol15no1.4

Mohamad N.E.A, Zainuddin H.A., Rajadurai Rajadurai, J. J., Sapuan N.M. Sapuan N.M.

{"title":"Exploring Women's Retirement Literature through Bibliometric Analysis Using VOSviewer","authors":"Mohamad N.E.A, Zainuddin H.A., Rajadurai Rajadurai, J. J., Sapuan N.M. Sapuan N.M.","doi":"10.22452/ijie.vol15no1.4","DOIUrl":"https://doi.org/10.22452/ijie.vol15no1.4","url":null,"abstract":"This paper aims to analyse the issue of women’s retirement (WR) literature through bibliometric analysis using VOSviewer, a programme for the visualisation of similarities (VOS). Publications focusing on women’s retirement were compiled from the Scopus database, with a total of 393 items spanning the years 1965 to 2021. The most prolific nations for retirement literature are the United States, United Kingdom, and Sweden, which reflects the affiliation analysis that correlates highly with published papers within specific institutions in those three countries. The issues were discussed within the context of social sciences, economics, econometrics, and finance, as well as psychology. This suggests an interlinking of women’s retirement with social and financial issues that might contribute towards psychological challenges for women. The most cited keywords, among others, are ‘retirement’, ‘women’ and ‘pension’, with thematic clusters being linked to ‘ageing’ and ‘health’. These could be linked to health problems that emerge because of ageing, and thus might be linked to the retirement wellbeing of women. The findings of this paper shed light on several implications that can be used as a guideline for researchers and act as a foundation before embarking on the emerging knowledge areas of women’s retirement.","PeriodicalId":393532,"journal":{"name":"Jurnal Institutions and Economies","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133889326","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