Malaysian Journal of Economic Studies最新文献

Minimum Wage and Employment of Malaysian Low-skilled Workers 最低工资与马来西亚低技能工人的就业情况

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Malaysian Journal of Economic Studies Pub Date : 2023-12-23 DOI: 10.22452/mjes.vol60no2.6

Kek Jing Wen, Lai Wei Sieng

{"title":"Minimum Wage and Employment of Malaysian Low-skilled Workers","authors":"Kek Jing Wen, Lai Wei Sieng","doi":"10.22452/mjes.vol60no2.6","DOIUrl":"https://doi.org/10.22452/mjes.vol60no2.6","url":null,"abstract":"The current study is inspired by inconclusive empirical findings on the impacts of minimum wage on employment. The majority of past studies have concluded that an increase in the minimum wage negatively impacts employment, despite certain scholars discovering either an insignificant or a positive impact. Hence, this study aims to investigate the impact of the Malaysian minimum wage on the employment opportunities of low-skilled workers. The data are collected annually from 1995 to 2020. An autoregressive distributed lag (ARDL) model is employed to examine the impact of the Malaysian minimum wage on the employment of low-skilled workers. The bounds test method and error correction model (ECM) are subsequently utilised to determine both short- and long-term effects. As a result, the employment of low-skilled labour is found to be positively impacted by the minimum wage, with this impact being statistically significant in both the short and long terms. However, when the interaction variables are included, the effect on the employment of low-skilled workers is negative and insignificant. Furthermore, neither increasing labour productivity nor technological advancement significantly altered the impact of the minimum wage on employment.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2023-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139162417","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 the Founder CEO Receive a Higher Pay for the Firm’s Performance? Evidence from Malaysia 创始人兼首席执行官是否因公司业绩而获得更高的薪酬？来自马来西亚的证据

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Malaysian Journal of Economic Studies Pub Date : 2023-07-11 DOI: 10.22452/mjes.vol60no1.1

S. Foong, B. Lim

{"title":"Does the Founder CEO Receive a Higher Pay for the Firm’s Performance? Evidence from Malaysia","authors":"S. Foong, B. Lim","doi":"10.22452/mjes.vol60no1.1","DOIUrl":"https://doi.org/10.22452/mjes.vol60no1.1","url":null,"abstract":"This paper examines whether firms run by a founder chief executive officer (CEO) have higher pay and whether their power sources from chairing the board, remuneration committee, tenureship, or share ownership affect the pay-performance nexus. Data for the study was hand-collected amongst 362 family-owned firms listed in Bursa Malaysia from 2009 to 2015 and analysed via the generalized method of moments (GMM) system to address endogeneity. The results showed that initially there was a significant positive pay-performance relationship in Malaysian family-owned firms; however, the founder CEOs had a weak influence on the pay-performance nexus. Secondly, the founder CEOs’ influences on the pay-performance nexus mainly came from their ownership power and their structural power as the chairman of the board. Thirdly, the pay-performance nexus tended to be positive and stronger when the family member of the CEO was chairing the board of directors and remuneration committee, instead of themselves, but the relationship changed to negative when more independent directors sat on the board, including a remuneration committee. The findings offered some policy implications for the regulators to enhance corporate transparency on the directors’ remuneration and ownership.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2023-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46279841","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

Supporting SMEs Financial Resilience during Crises: A Framework to Evaluate the Effectiveness of Financial Literacy Programs Targeting SMEs 在危机期间支持中小企业的财务韧性：评估针对中小企业的金融扫盲计划有效性的框架

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Malaysian Journal of Economic Studies Pub Date : 2023-07-11 DOI: 10.22452/mjes.vol60no1.6

Aassouli Dalal, Ahmed Mohamed Habib

{"title":"Supporting SMEs Financial Resilience during Crises: A Framework to Evaluate the Effectiveness of Financial Literacy Programs Targeting SMEs","authors":"Aassouli Dalal, Ahmed Mohamed Habib","doi":"10.22452/mjes.vol60no1.6","DOIUrl":"https://doi.org/10.22452/mjes.vol60no1.6","url":null,"abstract":"Financing capital investments and working capital have been the key challenges for small businesses during and in the aftermath of the pandemic. Excessive indebtedness can increase the fragility of firms, particularly during times of uncertainty. While there are several programs globally that target entrepreneurs’ financial literacy, most of them do not take into consideration entrepreneurs’ financial resilience during and after crisis times such as pandemics. The objective of this paper is to discuss the status of financial literacy programs targeting entrepreneurs. This paper conducts a review of the relevant literature to establish the initial understanding and then generates a framework consisting of entrepreneurs’ financial literacy along with its components. This is done by carrying out qualitative content analysis of the various financial literacy initiatives targeting entrepreneurs in twenty countries globally to understand their target segments, scope, initiating organisations and limitations. The paper then suggests a framework for entrepreneurs’ financial education that takes into consideration financial resilience during and after crisis situations in general and pandemics in particular.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2023-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46839786","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

Effects of Government Expenditure on the Poverty Level: A Nonlinear ARDL Approach 政府支出对贫困水平的影响：一种非线性ARDL方法

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Malaysian Journal of Economic Studies Pub Date : 2023-07-11 DOI: 10.22452/mjes.vol60no1.3

Yusoff Saharudin, S. Law, Mohamed Nor Norashidah, Ismail Normaz Wana

{"title":"Effects of Government Expenditure on the Poverty Level: A Nonlinear ARDL Approach","authors":"Yusoff Saharudin, S. Law, Mohamed Nor Norashidah, Ismail Normaz Wana","doi":"10.22452/mjes.vol60no1.3","DOIUrl":"https://doi.org/10.22452/mjes.vol60no1.3","url":null,"abstract":"The argument on the behaviour of government expenditure toward reducing the poverty level is still controversial among economists and policymakers. This study investigates the role of government development expenditure in alleviating poverty in Malaysia. The study employs a nonlinear autoregressive distributed lag (NARDL) model from 1970 to 2019 using annual time series data. The bounds test of the NARDL specification suggests the presence of cointegration among the variables, namely the poverty level, development expenditure, gross domestic product per capita, inflation rate, physical capital and human capital. The empirical findings demonstrate that an increase in development expenditure is an insignificant determinant of poverty, but the reductions in development expenditure significantly eradicate the poverty level in the long run. For robustness checks, the share of development expenditure on gross domestic product is used in the estimation. The findings show that all development expenditure has little to no impact on lowering poverty levels over the long and short runs. The Malaysian government should therefore consider how crucial it is to allocate public funds effectively and make sure that the emphasis on spreading development gains across all economic sectors must have an influence on the poverty level.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2023-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45136677","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

Income Inequality, Income Growth and Government Redistribution in Malaysia: What Do We Know in the Long Run? 马来西亚的收入不平等、收入增长和政府再分配:从长远来看我们知道什么?

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Malaysian Journal of Economic Studies Pub Date : 2023-07-11 DOI: 10.22452/mjes.vol60no1.4

S. Goh, K. Wong, Ayupp Kartinah, You Wah Lai

引用次数: 0

Does Local Risk Still Matter in the Highly Liberalised Emerging Market of Malaysia? 在高度自由化的马来西亚新兴市场，地方风险仍然重要吗？

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Malaysian Journal of Economic Studies Pub Date : 2023-07-11 DOI: 10.22452/mjes.vol60no1.7

Ying-Yin Koay, C. Hooy

引用次数: 0

Including Public Realism in Determining New Pricing Scheme for Sanitary Landfill in Malaysia 包括确定马来西亚卫生垃圾填埋场新定价方案的公众现实主义

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Malaysian Journal of Economic Studies Pub Date : 2023-07-11 DOI: 10.22452/mjes.vol60no1.5

Nik Ab Rahim Nik Nor Rahimah, Othman Jamal, Mohd Salleh Norlida Hanim, Chamhuri Norshamliza, Sahrir Syazwani

{"title":"Including Public Realism in Determining New Pricing Scheme for Sanitary Landfill in Malaysia","authors":"Nik Ab Rahim Nik Nor Rahimah, Othman Jamal, Mohd Salleh Norlida Hanim, Chamhuri Norshamliza, Sahrir Syazwani","doi":"10.22452/mjes.vol60no1.5","DOIUrl":"https://doi.org/10.22452/mjes.vol60no1.5","url":null,"abstract":"Financial restriction and excessive demand for solid waste disposal is a press-ing issue in developing countries. Neglecting this problem can worsen environmental damage and endanger public health. To address this challenge, this study investigated the influence of social factors on the willingness to pay for a sanitary landfill in Malaysia using choice modelling. Focusing on neighbouring districts, Kota Bharu and Bachok, where households share a crude-dumping landfill, the study collected data from 624 respondents. The findings revealed a common preference among respondents for a sanitary landfill attribute related to controlled disease vectors, with willingness to pay ranging from RM10.66 to RM13.33 per month. Interestingly, despite experiencing adverse effects from the crude-dumping landfill, respondents from Bachok still showed a preference for it. This preference could be influenced by lower mean incomes among Bachok residents who live closer to the landfill site compared to respondents in Kota Bharu. To address these dynamics, implementing cross-subsidies by charging higher prices to households in Kota Bharu and lower prices to households in Bachok could facilitate the successful implementation of the sanitary landfill. These results can inform other developing countries by highlighting the importance of considering the local social context when designing sustainable solid waste policies.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2023-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46131680","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

Comparing Elicitation Methods of Risk Preferences in Personal Financial Planning: A Field Experiment among Working Adults in Malaysia 个人理财规划中风险偏好激发方法的比较——马来西亚在职成年人的实地实验

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Malaysian Journal of Economic Studies Pub Date : 2023-07-11 DOI: 10.22452/mjes.vol60no1.2

K. Ch’ng, Phaik Nie Chin, Suzanna A. Bono

{"title":"Comparing Elicitation Methods of Risk Preferences in Personal Financial Planning: A Field Experiment among Working Adults in Malaysia","authors":"K. Ch’ng, Phaik Nie Chin, Suzanna A. Bono","doi":"10.22452/mjes.vol60no1.2","DOIUrl":"https://doi.org/10.22452/mjes.vol60no1.2","url":null,"abstract":"Risk preference is an important input in designing investment types or port-folios in personal finance. Although there are many reported risk elicitation methods, the risk preference measure obtained from these methods has not been associated with any behavioural or psychological reasons underlying the choices made. This association is important in providing the underlying theoretical understanding of risk preferences and establishing the robustness of a measure. The present paper attempted to test the consistency of risk preferences between two widely used elicitation methods: Grable and Lytton (1999, 2003) risk tolerance score and probability weighting function in prospect theory (Kahneman & Tversky, 1979; Tversky & Kahneman, 1992). The risk score captures the self-reported willingness to engage in risky investment, and the probability weighting function shows overweighting or underweighting of the probability. We conducted a series of field experiments involving working adults of three main ethnic groups in Malaysia. The results showed consistency in risk preferences between the two methods: high willingness to engage in risk was complemented by optimistic probability weighting, and respondents with low willingness to engage in risky investment evaluated high probability more favourably. The study is useful to financial professionals when implementing the questionnaire to measure risk preferences.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2023-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47973069","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

Too Much Debt and Budget Deficit on Fiscal Sustainability: Do Institutions Matter? 过多的债务和预算赤字对财政可持续性的影响：制度重要吗？

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Malaysian Journal of Economic Studies Pub Date : 2022-12-26 DOI: 10.22452/mjes.vol59no2.5

Cahyadin Malik, S. Tamat, Khalid Norlin, S. Law

{"title":"Too Much Debt and Budget Deficit on Fiscal Sustainability: Do Institutions Matter?","authors":"Cahyadin Malik, S. Tamat, Khalid Norlin, S. Law","doi":"10.22452/mjes.vol59no2.5","DOIUrl":"https://doi.org/10.22452/mjes.vol59no2.5","url":null,"abstract":"The current study estimates threshold levels of the public debt-to-gross domestic product (GDP) ratio and the budget deficit for 106 developing and 36 developed countries from 1996 to 2018. A PCA-based fiscal sustainability indicator is also constructed and a dynamic panel threshold regression is employed. The main findings reveal a threshold effect in the public debt-to-GDP ratio and budget deficit fiscal sustainability nexus. The public debt-to-GDP ratio and budget deficit are beneficial in maintaining fiscal sustainability at lower or upper threshold levels in different institutional indicators. The highest threshold level of the public debt-to-GDP ratio was 59.56% for developed countries and 64.87% for developing countries. The highest threshold level of budget deficit-to-GDP ratio was 0.41% for developed countries and 3.34% for developing countries. Three institutional indicators contribute significantly to the threshold estimation: regulatory quality, the rule of law and control of corruption. Policymakers are advised to maintain certain threshold points to ensure a fiscally sustainable level. The quality of law enforcement and control of corruption should also be improved.","PeriodicalId":42743,"journal":{"name":"Malaysian Journal of Economic Studies","volume":null,"pages":null},"PeriodicalIF":0.8,"publicationDate":"2022-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46576798","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

Political Connection Types and Corporate Tax Avoidance: Evidence from Malaysia 政治关系类型与企业避税:来自马来西亚的证据

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Malaysian Journal of Economic Studies Pub Date : 2022-12-26 DOI: 10.22452/mjes.vol59no2.2

C. Tee, Teng Tenk Teoh, C. Hooy

引用次数: 0