International Journal of Advanced Research in Economics and Finance最新文献

{"title":"Dividend Policy Revisited in an Emerging Market","authors":"","doi":"10.55057/ijaref.2023.5.3.4","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.3.4","url":null,"abstract":"This study examines the impact of dividend policy on the share price volatility for 376 non-financial firms listed on Bursa Malaysia from 2003 to 2021. Conforming to the dividend relevance theory, the study’s empirical findings suggest that greater dividend yield and dividend payout shall lower share price volatility, encouraging investors to invest in high-dividend paying firms with certain returns in the future. Further examination reveals that the chosen control variables produce predicted results and sit alongside earlier Malaysian studies. These include both earnings volatility and leverage are positively associated with share price volatility, while firm size demonstrates a significant negative association with share price volatility. The present study finds that asset growth does not influence share price volatility. The practical implication of the presented findings suggests a dividend smoothing behaviour by Malaysian firms during COVID-19 and dividend stocks are more favoured by the investors.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135347997","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":"China-Malaysia Cultural Exchanges under the Belt and Road Initiative: Literature Review from 2018 to 2023","authors":"","doi":"10.55057/ijaref.2023.5.3.3","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.3.3","url":null,"abstract":"This paper investigates the cultural and people-to-people exchanges between China and Malaysia from the perspective of the Belt and Road Initiative(B&R) which was put forward in the year 2013. Through literature review, the cultural exchanges between China and Malaysia in the framework of the Belt and Road can be divided into education, science and technology, international communication, tourism, art and cultural brand, sports, medicine and health and other fields. Guided by the principles of peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit, the Belt and Road Initiative will promote all-round practical cooperation and build a community of shared interests, shared future and shared responsibilities featuring political mutual trust, economic integration and cultural inclusiveness. Therefore, this paper makes the literature review of the cultural exchanges between China and Malaysia in specific policy, economic and cultural backgrounds rather than isolating them. The literature is reviewed from a historical perspective. The literature review of this study begins with the Belt and Road, cultural exchanges and China-Malaysia relations. The period of observation and analysis mainly extends from the year 2018 to 2021. This time span provides an understanding of the development process, framework and ideas of the Belt and Road cultural exchanges which will help achieve the objective of this study that is to promote the further deepening of cultural exchanges and cooperation between China and Malaysia.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135347988","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 Role of Tourism Bubble Destination for Sustainability Development","authors":"","doi":"10.55057/ijaref.2023.5.3.15","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.3.15","url":null,"abstract":"In late 2019 pandemic has broken into global outrage. This has led some countries to border closing. Since late 2019, the coronavirus disease 2019 (COVID-19) pandemic has caused unprecedented global health and social emergencies and profound negative impacts on the global economy. However, the pandemic also hit the economy in Indonesia, especially related to tourism. As solutions in Indonesia after the pandemic hit in early March 2020 there are several policies is applied regarding the tourism bubble made government. As for Indonesia, they have been cautious about the COVID-19 safety protocol in Indonesia. This study is aimed to understand the concept of the tourism bubble in various literature and is represented as an understandable concept as grounded theory. The objective of this study is to understand also how the basic relationship between sustainable tourism and the bubble tourism concept. Nevertheless, this study also can help to define tourism bubble destinations. Although as an outcome, understanding Bubble Tourism destinations may help to develop the sustainability theory. The study design is grounded on theory. Grounded theory is to generate a conceptual theory that accounts for a pattern of behavior that is relevant and problematic for those involved. In conclusion, it can be understood that the Tourism bubble destination can become the answer to sustainable development in the tourism industry. This idea can become a solution not only for the prevention of loss in culture, assets, and value but also as curative when there is a problem related to health in society.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135346714","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":"Do Companies Consider Market Timing in Issuing Stock in Indonesia","authors":"","doi":"10.55057/ijaref.2023.5.3.5","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.3.5","url":null,"abstract":"The purpose of this research is to indicate equity market timing behavior on companies in Indonesia when those firms issued their share by using cumulative abnormal return as a proxy to predict market timing. Samples in this research are non-financial companies with seasonal or initial shares issued during 2014-2020 and listed on Indonesia Stock Exchange. The results of this study show that cumulative abnormal return before the shares are issued positively affects capital raised. In contrast, cumulative abnormal return after issuing shares negatively affects capital raised. This result shows that non-financial companies in Indonesia practice market timing behavior that can be indicated by using their stock's cumulative abnormal return.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"78 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135347990","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":"Intellectual Capital in Asia Stock Market: A Systematic Literature Review and Research Agenda","authors":"","doi":"10.55057/ijaref.2023.5.3.9","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.3.9","url":null,"abstract":"In some severe global economic conditions like the Corona Virus Disease (COVID-19) pandemic in 2019, most of the economic sectors and stock market have dropped significantly. However, not all of the investors had overreacted and carried out panic selling during the severe condition, because they believed in their analysis either using financial and non-financial literacy such as intellectual capital (IC). As non-financial information, the existence of IC is undeniable to support better quality from the company itself and its stock return in the market. The purpose of this research is to provide valid and reliable information for future studies and to become a guidance to help researcher in analysing and mapping data comprehensively from the research problems. In this paper, it will discuss the three main research questions. Firstly, how is IC implemented in Asia public listed companies towards the reaction on stock market? Secondly, what are the syntheses and limitations of IC work in three different perspectives, consist of: the empirical findings, theories, and methodological specifications? Third, what are the recommendations for future research agenda on intellectual capital in Asia stock market? In this research, the method used was the systematic literature review (SLR), and carried out analysis from three different perspectives: empirical, theoretical, and methodological frameworks. The research result shows that the author can provide 14 past studies, four main theories, and two methodological recommendations to be added for future studies to examine the sustainable power of IC performance in dealing with the stock price movement. Also, all of the findings may be useful to help other authors in addressing the research gaps found and exposing more suitable theories and reliable methodological framework.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135347996","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":"Tax Planning And Financial Constraints With Moderated Effect Of Audit Quality: Evidence From East African Countries","authors":"","doi":"10.55057/ijaref.2023.5.2.21","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.2.21","url":null,"abstract":"This study aims to provide empirical evidence on the relationship between tax planning and financial constraints with the moderated role of audit quality. This study draws its sample from listed firms operating in developing countries particularly East African Countries, the region where firms are most famous for facing higher financial constraints. We used ordinary least squares (OLS,) fixed effect and feasible generalized least square (FGLS) to estimate the regression on the data spanning 2009 to 2019. The results show a negative relationship between book tax differences and financial constraints, which suggests that companies with larger book tax differences are less likely to experience financial constraints. However, this study found no significant moderated role of audit quality. Nonetheless, the negative relationship between book tax differences and financial constraints has practical and theoretical implications. It highlighted the need for tax authorities and policy makers to reform and enforce their tax regulations to limit aggressive tax planning. It also provides insights into the potential conflicts of interest that can arise between managers and other stakeholders in a company, and highlights the importance of transparency and accurate financial reporting in mitigating these conflicts.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135399372","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":"Tahap Kesejahteraan Kewangan Ibu Tunggal Melayu di Terengganu","authors":"","doi":"10.55057/ijaref.2023.5.2.20","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.2.20","url":null,"abstract":"Kajian ini adalah untuk mengenalpasti tahap kesejahteraan kewangan ibu tunggal Melayu di Terengganu. Menurut Biro Perlindungan Kewangan Pengguna (2015), kesejahteraan kewangan mempunyai empat elemen utama iaitu, 1) mempunyai kawalan ke atas kewangan secara harian dan bulanan, 2) mempunyai kapasiti untuk menampung tekanan kewangan, 3) berada di landasan yang betul untuk memenuhi matlamat kewangan, dan 4) mempunyai kebebasan kewangan untuk membuat pilihan menikmati hidup. Kesejahteraan kewangan adalah kemampuan ibu tunggal dalam menguruskan kewangan mereka dari semua aspek kehidupan termasuk mampu membuat simpanan tetap setiap bulan. Sebaliknya, ketidakmampuan ibu tunggal menguruskan kewangan akan menyebabkan mereka berada dalam keadaan gelisah, takut dan panik sehingga boleh menyebabkan kemurungan. Kos sara hidup yang meningkat telah menyebabkan kegelisahan kepada ibu tunggal yang terpaksa menyara keluarga seorang diri. Ibu tunggal sering dikaitkan dengan masalah kemiskinan yang tidak berkesudahan terutama dalam sosioekonomi. Kajian ini menggunakan kaedah kuantitatif dengan mengedarkan instrumen dan borang soal selidik kepada 612 orang ibu tunggal yang bercerai hidup dan kematian suami. Dapatan kajian dianalisis menggunakan kaedah analisis deskriptif perisian IBM SPSS statistik. Hasil analisis deskriptif mendapati, ibu tunggal di Terengganu mempunyai tahap kesejahteraan kewangan pada tahap yang rendah iaitu, ibu tunggal mempunyai masalah kewangan dan sangat risau akan masalah tersebut. Dapatan kajian ini relevan untuk penambahbaikan polisi dan dasar sosial kerajaan untuk lebih peka kepada keperluan ibu tunggal. Program sokongan juga perlu dipergiatkan kepada ibu tunggal yang tidak mempunyai pendapatan tetap setiap bulan. Agensi berkaitan perlu mengenal pasti keperluan bagi setiap keluarga yang mempunyai ibu tunggal sebagai ketua keluarga. Kesimpulannya, kajian ini telah membuktikan bahawa cabaran kewangan yang dihadapi sangat mempengaruhi kesejahteraan kewangan ibu tunggal.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135399369","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":"Contemporary Waqf Reporting Practices and Governance in Malaysia: A Systematic Literature Review","authors":"","doi":"10.55057/ijaref.2023.5.2.18","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.2.18","url":null,"abstract":"This study aims to conduct a Systematic Literature Review (SLR) following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines to investigate the governance of waqf reporting practices in Malaysia. The importance of mutawalli accountability and adherence to Islamic law in waqf administration has been recognized since the time of the Ottoman Empire. However, research in this area is limited. By conducting a comprehensive search on the Web of Science (WOS) and Scopus databases, this review aims to identify empirical research on waqf reporting practice and governance. The findings will provide valuable insights for practitioners, policymakers, and standard setters, helping them improve waqf reporting and governance practices. This study will contribute to the understanding of current waqf reporting practices, identify key factors influencing mutawalli accountability, and examine the alignment of waqf reporting practices with Islamic principles. By following PRISMA guidelines, this review ensures a rigorous and systematic approach, providing a comprehensive overview of the state of waqf reporting practices and governance in Malaysia.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"98 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135399370","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":"Assessment of Financial Literacy: The Case of Hawkers in Sarawak, Malaysia","authors":"","doi":"10.55057/ijaref.2023.5.2.17","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.2.17","url":null,"abstract":"The purpose of the study is to assess the financial literacy of hawkers, describe the level of financial behaviour and attitude as well as to assess the level of financial awareness of hawkers in Pasar Tamu Bintulu, Sarawak, Malaysia. The study involves a sample size of 60 participants, who were randomly selected using simple random sampling. Data was collected through a survey questionnaire, which was analyzed using the Statistical Package for Social Sciences (SPSS), with descriptive statistics and crosstabulation are used to interpret the results. The survey results reveal that the financial literacy of hawkers in Pasar Tamu, Bintulu, Sarawak is deficient, with the elderly hawkers displaying lower financial knowledge. The research also observed that individuals with lower educational levels exhibited adverse financial practices. Furthermore, most of the hawkers were unfamiliar with various investment products and failed to utilize them effectively. The study revealed that most of the hawkers lacked financial awareness and had limited knowledge of how to use financial products and services offered in the market. The study's results indicate a requirement to enhance the financial literacy and education of both the surveyed participants and the general population, enabling them to make informed financial choices. The research emphasizes the significance of individuals acquiring adequate knowledge on personal finance, investments, and other financial matters to secure their financial future and avoid making costly errors. The study highlights the necessity for financial institutions, governments, and non-profit organizations to provide easily accessible and effective financial education programs and resources, such as workshops, online courses, and other educational initiatives. By implementing these measures, individuals can develop the skills and knowledge required to manage their finances and achieve their financial objectives. This study may be the first to evaluate the financial literacy of hawkers, as most prior research has focused on the financial literacy of SMEs.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135399368","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":"Green Economic Development: International Lessons for Vietnam","authors":"","doi":"10.55057/ijaref.2023.5.2.19","DOIUrl":"https://doi.org/10.55057/ijaref.2023.5.2.19","url":null,"abstract":"In light of the erratic weights stemming from climate change, exhaustion of normal assets, and the Covid-19 widespread, it has gotten to be progressively basic for the larger part of countries over the globe to grasp green financial advancement as a practical arrangement, counting Vietnam. The concept of a green economy involves the harmonization of green development and feasible improvement standards. In arrange to supply a brief layout of green financial advancement, green development, and feasible improvement, the creator utilized the approach of record audit. Besides, the article gives a blend of the bits of knowledge gathered from different nations' endeavors towards feasible financial advancement. The author sets that by giving an outline of the existing scene of green financial improvement in Vietnam, certain regulatory measures can be prescribed to viably execute green financial approaches.","PeriodicalId":479895,"journal":{"name":"International Journal of Advanced Research in Economics and Finance","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135399371","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}