bluuebunny/crossref_metadata_2025 huggingface dataset:
The Development of Aerial Photography Application Based on Aerial Images Captured From a Remote Control Airplane
Authors: Jamaludin Zulikha , Aziz Fahkrul Anuar
Published: August 2020

This paper shows that we can obtain aerial scenes faster, cheaper, safer, and easier using a reasonable resolution camera and a remote control airplane (RC plane). RC plane can fl y low, thus able to capture aerial images from low altitude. It is shown here the method of generating a digital scene from such images. We begin with capturing aerial images for selected locations within Universiti Utara Malaysia (UUM) campus using RC plane. These images have been stitched together to create the campus scene. A few scenes were then collected to create the UUM Digital Aerial Scenes (UUM-DAS) prototype. The resulting prototype enables viewers to explore the campus virtually from a of bird’s eye view, with the altitude of about 150 to 200 metres. Similar approach of obtaining DAS can be generalised for marketing strategy, farm management, map disaster locations, map landscapes, monitor construction sites and progress, advertise property, and for viewing archaeological arttifacts.
Hubungan Dinamik Antara Inflasi, Kemeruapan Inflasi dan Pertumbuhan Output: Bukti Empirikal di Malaysia
Authors: Mohd Nor Abu Hassan Shaari , Ling Tan Yan
Published: August 2020

Tujuan utama makalah ini adalah untuk mengkaji hubungan dinamik antara inflasi, kemeruapan inflasi dan pertumbuhan output bagi tempoh Januari 1980 hingga Disember 2004. Kemeruapan inflasi dianggarkan dengan menggunakan model varians bersyarat ‘exponential generalized autoregressive conditional heteroskedasticity’ (EGARCH) dan perubahan indek pengeluaran perindustrian (IPP) digunakan sebagai proksi kepada  pertumbuhan output. Teknik autoregresi vector (VAR) digunakan untuk menguji kewujudan hubungan lead-lagged antara ketiga-tiga pemboleh ubah yang dikaji. Keputusan empirikal menunjukkan wujud hubungan penyebab antara kadar inflasi dan kemeruapan inflasi. Secara amnya, kadar inflasi yang tinggi akan meningkatkan kemeruapan inflasi, selaras dengan hipotesis pertama Friedman. Seterusnya kemeruapan inflasi yang tinggi akan mengurangkan kadar inflasi seperti yang dibahaskan oleh Holland. Tambahan pula, inflasi memberi kesan negatif terhadap pertumbuhan output Malaysia. Walau bagaimanapun tiada hubungan yang wujud antara kemeruapan inflasi dan pertumbuhan output. Keputusan daripada analisis luar sampel menggunakan teknik fungsi tindak balas teritlak (GIRF) dan penghuraian varians (VDC) adalah konsisten dengan keputusan daripada analisis VAR.
Sumbangan Perubahan Teknologi Terhadap Pertumbuhan Output Industri Skel Kecil dan Sederhana di Malaysia
Authors: Ismail Rahmah , Jajri Idris
Published: August 2020

Industri Skel Kecil dan Sederhana (IKS) memainkan peranan yang amat penting terhadap pertumbuhan ekonomi Malaysia. Bilangan pertumbuhannya yang banyak merangkumi hampir 90% daripada jumlah pertubuhan sektor pembuatan di Malaysia. Hal ini menjadikan industri ini mempunyai kemampuan yang tinggi dalam menyediakan peluang pekerjaan kepada rakyat. Namun sumbangannya dari segi output tidak setimpal dengan bilangan pertubuhannya dan jauh lebih rendah daripada sumbangan Industri Skel Besar (ISB) yang banyak didominasikan oleh pelabur asing. Jumlah output atau nilai ditambah IKS hanya merangkumi sekitar 30% daripada keseluruhan ouput pembuatan. Keadaan ini ada kaitannya dengan rendahnya kecekapan IKS dalam mengendalikan aktiviti pengeluarannya dan teknologi yang digunakan jauh terkebelakang daripada yang berlaku dalam ISB. Kedua-dua komponen ini menyumbang kepada rendahnya Pertumbuhan Produktiviti Faktor Keseluruhan (TFPG) IKS. Artikel ini akan menganalisis perubahan kecekapan teknikal, perubahan teknologi dan TFPG dalam IKS. Seterusnya artikel ini melihat sejauh mana perubahan teknologi mempengaruhi pertumbuhan output IKS. Bagi mencapai objektif ini data IKS daripada Penyiasatan Industri Pembuatan, Jabatan Perangkaan Malaysia bagi tempoh 1985-2003 digunakan. IKS didefinisikan sebagai industri dengan bilangan pekerja sepenuh masa kurang daripada 200 orang. Data ini merangkumi 10 sub industri IKS pada tahap pengkelasan Industri Piawaian Malaysia (MSIC) 3 digit. Analisis kertas ini bermula dengan melihat perubahan kecekapan teknikal, perubahan teknologi dan TFPG yang berlaku dalam IKS dengan menggunakan kaedah Data Envelopment Analysis (DEA). Analisis seterusnya ialah menggunakan perubahan teknologi sebagai salah satu pemboleh ubah dalam model pertumbuhan output IKS bersama-sama dengan faktor modal dan buruh untuk melihat sejauh mana perubahan teknologi mempengaruhi pertumbuhan output. Analisis peringkat kedua ini menggunakan kaedah kuasa dua terkecil (OLS).
Foreign Investment, Government Expenditure, and Economic Growth in Malaysia
Authors: Said Fatimah , Yusof Zarinah , Mohd Said Saad , Osman Ahmad Farid
Published: August 2020

This study uses the ordinary least squares technique to examine the effect of foreign investment and government expenditure on the growth in GDP per capita in Malaysia over the period 1978-2005. The regression results showed that the growth of export and ratio of government expenditure to GDP are the driving forces in enhancing the economic growth in Malaysia. Foreign investment and previous year real income per capita growth depict positive impact, whereas population growth exerts a negative impact on economic growth.
Dividend Announcements and Contagion Effects: An Investigation on the Firms Listed with Dhaka Stock Exchange
Authors: Misir M. Abu
Published: August 2020

Changes in dividend convey information about the earnings of the announcing firm which in turn affect the price. Security price depends on current earnings, past earnings, and future prospect of earnings. Dividend relevant theory postulates that dividend policy, dividend initiation and changes in dividend carry information about the market value of the announcing  firms. Accordingly, an unexpected increase in dividends conveys positive information about the future profitability of the firm and vice versa. Firm’s management is better informed than the market about the future prospects of their firm and therefore, their action relating to any financing decision conveys information to the investors. The principal purpose of this study was to examine the intra-industry information effects of announcements of dividend initiations of the firms associated with Dhaka Stock Exchange (DSE). To test this hypothesis, we used Herfindahl Index and Tobin’s q ratio. The study found that the intra-industry effects of dividend revisions are apparent.
Psychometric Properties of Organisational Structure Scale in the Malaysian Public Service Agencies: Preliminary Results
Authors: Johari Johanim , Yahya Khulida Kirana , Omar Abdullah
Published: August 2020

Organisational structure has been assessed with various different scales resulting in inconsistencies in the measures of this construct. Hence, a re-conceptualisation of the organisational structure construct is crucial due to the fact that researchers have thus far provided inconclusive agreement on what dimensions should be included in measuring organisational structure, although many studies have conceptualized organisational structure as a multidimensional construct. This study att empted to examine the psychometric properties of the organisational structure construct by integrating four subscales – decision making, hierarchy of authority, job codification, and rule observation. A priori proposition was made that organisational structure measurement could be explained by four of the hypothesised dimensions. SPSS version 12 and AMOS 4 were used to analyse the data. Findings supported the hypothesis that organisational structure can be measured by the four aforementioned subscales. Findings also showed acceptable internal consistency reliability for the overall and the four specific subscales of organisational structure latent construct.
Halaju Wang di Malaysia: Bukti Empirik
Authors: Abdul Karim Zulkefly , Jusoh Mansor , Khalid Norlin
Published: August 2020

Kajian ini bertujuan untuk menguji kemeruapan (volatility) halaju wang disamping menganggar fungsi halaju wang di Malaysia dengan menggunakan kaedah ekonometrik siri masa iaitu model ARCH dan GARCH, ujian kointegrasi Johansen dan ujian model vektor pembetulan ralat (VECM). Dapatan kajian menunjukkan bahawa halaju wang M1 (V1) dan halaju wang M2 (V2) mempunyai kemeruapan yang berkelangsungan (persistence) berbanding dengan kemeruapan halaju wang M3 (V3). Keputusan ujian kointegrasi Johansen pula menunjukkan kewujudan hubungan jangka panjang antara halaju wang V1, V2 dan V3 dengan pemboleh ubah bebas yang terdiri daripada kadar bunga bon, kadar bunga deposit dan pendapatan negara. Selain itu, ujian VECM menunjukkan bahawa perubahan pemboleh ubah bebas iaitu kadar bunga bon, kadar bunga deposit dan pendapatan negara signifi kan menjadi penyebab kepada perubahan halaju wang V2 dan V3 dalam jangka panjang. Sebaliknya, dalam jangka pendek didapati perubahan pendapatan negara hanya signifi kan menjadi penyebab kepada perubahan halaju wang V2 dan V3 sahaja. Pengaruh kadar bunga hanya signifi kan menjadi penyebab jangka pendek kepada halaju wang V3 sahaja. Kajian ini memberikan beberapa implikasi penting kepada dasar kewangan negara.
Hubungan Pembangunan Industri Pelancongan dan Pertumbuhan Ekonomi di Beberapa Negara Utama ASEAN
Authors: Othman Redzuan , Mohd Salleh Norlida Hanim
Published: August 2020

Makalah ini bertujuan mengkaji corak hubungan antara pembangunan ekonomi dengan pertumbuhan industri pelancong di beberapa negara utama ASEAN iaitu Malaysia, Thailand, Singapura dan Indonesia. Khususnya kajian cuba menguji hipotesis sama ada perkembangan industri pelancongan sebagai perangsang kepada pertumbuhan ekonomi (tourism-led economic growth - (TLG) atau pertumbuhan ekonomi sebagai perangsang kepada perkembangan industri pelancongan (economic growth-led tourism – GLT). Bagi tujuan tersebut, analisis ekonometrik yang menggunakan kaedah ujian kointegrasi dan penyebab Granger digunakan. Hasil kajian mendapati wujud hubungan satu hala antara perkembangan industry pelancongan dengan pertumbuhan ekonomi. Bagi negara Thailand dan Indonesia didapati pertumbuhan ekonomi sebagai penyebab kepada perkembangan industry pelancongan (GLT), sementara bagi Malaysia dan Singapura pula perkembangan industri pelancongan adalah penyebab kepada pertumbuhan ekonomi (TLG). Makalah ini mengaplikasikan teori dan realiti iaitu, penggunaan pendekatan penyebab Granger dalam menganalisis realiti industri pelancongan dan pertumbuhan ekonomi.
Analisis Kecekapan Relatif bagi Industri Saham Amanah Menggunakan Pendekatan Ekonometrik
Authors: Aleng @ Mohamad Nor Azlida , Wan Ahmad Wan Muhamad Amir , Mamat Mustafa , Isa Zaidi
Published: August 2020

Makalah ini bertujuan untuk mengukur kecekapan relatif industri saham amanah di Malaysia menggunakan kaedah Analisis Sempadan Stokastik (ASS) bagi tahun 2003 dan 2004 yang terdiri daripada 65 buah dana daripada 16 buah syarikat pengurusan dana saham amanah di Malaysia. Dana yang dikaji dibahagikan kepada tiga jenis, iaitu pertumbuhan, pendapatan dan Islam/Syariah menggunakan spesifi kasi Batt ese dan Coelli (1992). Analisis data dan keputusan kajian menggunakan program Frontier Versi 4.1 (Coelli, 1996). Kecekapan merupakan pengukuran penting yang boleh digunakan untuk menilai perkembangan dan pertumbuhan ekonomi sesebuah negara.
Inflation in Malaysia
Authors: Tsen Wong Hock
Published: August 2020

This study examines the determination of inflation in Malaysia. The results of the generalised forecast error variance decomposition show that real import price change is the most important factor in the determination of inflation. The impact of real oil price change on inflation is marginal. An increase in real oil price has a more significant impact on inflation than a decrease in real oil price. The results of the generalised impulse response function show the impact of variables examined on inflation is relatively short. There is evidence that real oil price change Granger causes inflation.
Teachers’ Engagement in Workplace Learning Activities: Validation of a Measure
Authors: Tengku Ariffin Tengku Faekah , Awang Hashim Rosna
Published: August 2020

Quantitative research into the topic of workplace learning among teachers has been limited due to the lack of measures that are applicable to the educational settings. In this study, items measuring teachers’ engagement in workplace learning activities were generated through literature review and discussions with schoolteachers; selected by the authors; and then tested in a field study. The sample involved a total of 500 schoolteachers, selected through a multistage cluster sampling procedure. Exploratory and confirmatory factor analyses were used to test the hypothesised two-dimensional model for the construct of engagement in workplace learning activities. Results indicated that the proposed model acceptably fits the data and the loadings were all significant at p<.05, thus lending evidence for the construct validity of the instrument. Implications for the use of this scale in future workplace learning research, particularly in the educational settings, are discussed.
Young Adults’ Susceptibility to Interpersonal Influence: A Case of Apparel Purchases
Authors: Lim Weng Marc , Ting Ding Hooi
Published: August 2020

Purpose: This paper focuses on consumers’ susceptibility to interpersonal influence of young adults in the clothing apparels’ market in Malaysia. The researchers sought to clarify the relationship between interpersonal influences and young adults’ purchase decision, and the moderating impact of gender towards the relationship.   Design/methodology/approach: This study is exploratory in nature and adopts a quantitative approach. Primary data were obtained from young adults in Klang Valley (Malaysia) using mall intercept, by using 300 questionnaires were administrated using a multi-stage probability sampling technique to young adults between 19 to 30 years old.   Findings: Findings showed that value expressive, utilitarian, information, and brand consciousness influences were positively related to purchase decision. There are differences between genders toward the strength of interpersonal influence resulting in variation in their purchase decision.   Research limitations/implications: Different strategies should be designed to cater to both informational and brand consciousness influences between genders.   Originality/value: Marketers will be able to understand the importance of identifying the different susceptibility factors and gender attribute in their attempt to design different marketing strategies to attract customers.
Indeks Modal Sosial dan Agihan Pendapatan di Malaysia
Authors: Mohd. Saukani Mohd. Nasir , Ismail Rahmah , Yussof Ishak
Published: August 2020

Makalah ini bertujuan untuk melihat pengaruh modal sosial terhadap agihan pendapatan isi rumah antara wilayah di Malaysia. Modal yang bersifat subjektif dan “intangible” ini dirujuk sebagai “relational embeddedness” yang akan memudahkan kerjasama dilakukan di antara individu atau kumpulan untuk mencapai matlamat tertentu. Pencapaian matlamat ini akan berlaku melalui kombinasi ciri modal sosial, iaitu kepercayaan, jaringan/hubungan dan norma hidup individu atau kumpulan. Analisis dalam makalah ini adalah berdasarkan kepada 4003 isi rumah yang telah ditemu bual pada 2007/2008 di seluruh Semenanjung Malaysia. Melalui pembentukan model dengan menggunakan peratus pendapatan setiap isi rumah sebagai pengukur agihan pendapatan, pengaruh modal social terhadap agihan pendapatan isi rumah akan dianalisis menggunakan indeks modal sosial yang telah dibangunkan. Pemboleh ubah modal manusia seperti tahap pendidikan, latihan, pengalaman kerja dan kesihatan serta demografi dan wilayah juga diambil kira dalam penganggaran model ini. Kajian ini mendapati modal sosial memberi impak yang positif terhadap agihan pendapatan walaupun pengaruhnya lebih kecil berbanding pengaruh modal manusia.
Microfinance and Mechanism Design: The Role of Joint Liability and Cross-Reporting
Authors: Abdul Karim Zulkefly
Published: August 2020

Since the establishment of Grameen Bank in 1976 by Professor MuhammadYunus1, many economists have studied extensively, either theoretically or empirically, the success of the Grameen Bank in eradicating the poverty problem in Bangladesh. Therefore, this paper aims to apply the mechanism design theory in microfinance by examining the role of joint liability and cross reporting mechanism in the loan contract which is designed by microfinance lender. In doing so, this study simplified the joint liability mechanism proposed by Ghatak (1999, 2000) and cross-reporting mechanism by Rai and Sjostrom (2004). Based on the joint-liability mechanism, it is clearly stated that the microfinance lender can minimise or avoid the adverse selection problem in the credit market through peer selection and peer screening. In the meantime, the joint liability mechanism is better than individual lending in terms of increasing the social welfare among the poor borrower, charging lower interest rates, and generating high repayment rates. In contrast, Rai and Sjostrom (2004) argued that joint liability alone is not enough to efficiently induce borrowers to help each other. Indeed, the cross-reporting mechanism is also important for lenders in order to minimise the problem of asymmetric information in the credit market. The cross-reporting mechanism is also efficient because it can influence the borrower to be truthful-telling about the state of the project and subsequently can minimise the deadweight loss (punishment) among the borrowers. In comparison, without cross reporting, the lending mechanism is inefficient because the borrower will be imposed harsh punishment from the bank and the bank can undertake auditing or verify the state of the project and punish accordingly.   Keywords: Microfinance; mechanism design; joint liability; cross-reporting.
The Current Global Crisis: The Perils Of Economic Globalisation
Authors: Zainal Abidin Mahani
Published: August 2020

The basic foundation of this crisis actually lies with the global economic system which is based on the globalisation of the economyand financial systems. That is the foundation of the current problem.However, if we actually look at the system, this crisis is not abouta specific country or specific factor. It is actually about the globalsystem which is based on the economic globalisation system. Thequestion that comes to mind with that statement is that, will thishappen again? In my opinion it will happen again. So, this is not the final crisis, and since it is not the first crisis, it will happen again. Based on the one that we had, let us get to the content. There will be three parts to this discussion. The first one is the causes of the crisis. The second one is the impact, and the third one is the future of the economic globalisation. Is the 2008 crisis a repeat of the 1998 crisis? In fact yes, and in between, the world has seen so many crises but the big crisis happen in 1932 when the whole world was in depression. Then, we have the present crisis. These are the two major crises that involved the whole world. In between we have many crises. For example in 1992, we had the Mexican crisis, in 1998 we had the Asian crisis, in 2001 we had dot com bubble crisis, and so forth. The difference between all the crises is the degree of the sovereignity. For some, it is restricted to some countries and some of it is regional. The only noticeable characteristic is that a crisis now occurs more often. Previously every 12 years, and then every 10 years. Now it is happening more often because the global economy is so integrated. So, if you look back and you see this pattern, this is what is going to happen.
Money Impartiality: Panacea for Economic Crisis
Authors: Othman Jamal
Published: August 2020

This paper overviews the political-economics of FIAT and asset-based money. The paper further highlights the presumably syaria standpoint of the impartial character of money as the fundamental factor that differentiates asset-based money from the FIAT money. It is argued that while it is ideal for asset-based money to make a comeback in the interest of holistic wellbeing (maslahah) of humankind, it is necessary to complement it with an appropriate financial and regulatory system to safeguard its impartiality, i.e. non-tradable, non-interest bearing, and non-debt financing to avoid the recurring pitfalls which are immanent in the conventional financial system. It is hoped this rather concise paper will offer a thought provoking discourse on how syaria principles may present the world a useful ideological construct for a new monetary and financial architecture in light of the global financial crisis.   Keywords: Asset-based money; FIAT money; Syaria perspectives of money; money impartiality; money and sustainable development; money and financial crisis.
Crises and the Volatility of Indonesian Macro-Indicators
Authors: Sugiyanto Catur
Published: August 2020

This paper examines the volatility of some of Indonesian macroeconomic indicators, namely the Bank Indonesia rate, inflation, and exchange rates. It is argued that after the financial crisis the variability of these variables increases and this makes it more difficult to predict them. The estimated ARCH parameters increases overtime, indicating higher contribution of shock over several periods. From the random walk, historical mean, moving average and simple regression, it was found that the quality of prediction after the crisis decreases. Financial manager and other policy makers may adjust their strategy to account for this increase in variability.
Global Economic Crisis: Impact on Higher Education in Malaysia
Authors: Hassan Ramli , Alias Mohammad Haji
Published: August 2020

The global economy is reeling from the effects of financial crisis which led to an economic crisis triggered by the United States sub-prime mortgage crisis which started in late 2007. The sharp inflation in petroleum and food prices in the first half of 2008 also compounded the problem. The National Bureau of Economic Research (NBER) had declared that the US economy had been in recession since December 2007. Contraction in the growth rates of major developed economies thereby causing global trade in goods and services to plummet has affected open economies including Malaysia. Last year Malaysian GDP grew by about 4.6% over 2007. An ominous sign that economic growth in 2009 would be low or even negative was the 0.1% growth in GDP in the fourth quarter of 2008 compared to the same quarter in 2007. This was due mainly to a 40% drop in net exports. The slow down in growth has affected all sectors of the economy. Education in general and higher education in particular are not spared. Higher education has to compete for scarce public funds. The main objective of this paper is to understand the impact of the global economic crisis on higher education in Malaysia. A better understanding is imperative in order to prepare for the challenges ahead. The challenges ahead are within the framework of the new economic model being formulated by the government in order to lift Malaysia into a high income country within a decade. A major critical success factor is the implementation of an effective human capital development strategy.   Keywords: Economic crisis; higher education; recession.
Acquiring International Knowledge and Experience: Internationalization of Small and Medium Enterprises (SMEs)
Authors: Chelliah Shankar , Sulaiman Mohamed
Published: August 2020

Purpose – This paper intends to understand the importance of acquiring international knowledge and experience and its relationship in the internationalization of Small and Medium Enterprises (SMEs) in the Malaysian context. Within this scope, this study sets out to further the discussion by comparing the global orientation of SMEs in Malaysia with their different levels of firm size. In a nutshell, the study further understands the moderating effect of firm size between the relationship of international knowledge and experience, and internationalization of SMEs.   Design/Methodology/Approach – The study is based on literature review in the areas of SMEs internationalization, international knowledge and experience, and the firm size. The data was collected using a survey instrument among 300 internationalized enterprises located in the northern region of Malaysia.   Findings – The results suggest that those firms that acquire international knowledge and experience have no significant relationship with firm internationalization. However, when firm size is used as a moderating factor, acquiring international knowledge and experience shows some importance for internationalization of firms. Interestingly, international knowledge and experience are important for relatively smaller firms. In other words, firm size is significant when relatively smaller SMEs acquire international knowledge and experience. It poses some implications for managers and policy makers.   Originality/Value – This study explores the use of the index of internationalization to measure the internationalization of SMEs in Malaysia.   Keywords: International knowledge and experience, index of internationalization, firm size.
The Economic Impact of the Economic Transformation Plan (ETP) On Malaysian Economy by the Year 2020: An Input-Output Analysis
Authors: Puasa Ahmad Fauzi , Abdul Rashid Zakariah , Raja Mohamad Raja Zarina
Published: August 2020

Since independence, Malaysia has gradually built a robust and resilient economy, which has sustained strong economic growth. We have almost eradicated hardcore poverty, and at the same time, have been able to provide the society near universal access to basic health, education, communications and other public services. As a result, the quality of life for the vast majority of Malaysians has improved. However, achieving our bold aspirations of Vision 2020, by the year 2020, will be challenging. Despite the resilient economic condition, Malaysia still belongs to the middle-income group. In order to join the high-income nations, Malaysia needs to transform economically. This government is committed in pursuing this strategy to achieve high-income status. We have embarked on an Economic Transformation Programme (ETP) to propel our economy to 2020. The ETP builds upon the policy directions, strategies and programmes of the 10th Malaysia Plan incorporated in the New Economic Policy. In this ETP strategy programmes have laid out the long-term budget in order to achieve the vision 2020 objectives. Using these figures, this study has forecasted the expected economic impact on Malaysia in the year 2020 using the input-output analysis technique. The results of the study reveal that, by year 2020 Malaysia is expected to produce a total output estimated at RM1,603 billion, increase the total household income to RM 138.365 billion, and create 9.784 million employments for the Malaysian.   Keyword: Economic transformation programme, economic impact, inputoutput analysis.
Issues of Commercialization Activities of Biotechnology-Related Researches in Malaysian Research Universities
Authors: Yaacob Noorulsadiqin Azbiya , Mohamed Ismail Risyawati , Mohd Shabli Ahmad Hanis , Md Rasli Amran
Published: August 2020

This study aims to explore issues of commercialization activities of research results among academic researchers who work in biotechnology-related researches in Malaysian Research Universities. Accordingly, the conceptual framework based on the ‘Innovation Implementation’ model has been assessed for its applicability in describing the phenomenon under study. Through interviews, elements as specified in the ‘Innovation Implementation’ model were found in this case study. Significant patterns and themes were also identified that suggest local industries, funding for research, development and commercialization as well as leadership, political interference, researcher’s attitude, transition management and legal perspectives are considered as the contextual factors that affect the commercialization activities of research results. Finally, the revised framework of commercialization-activities implementation based on the findings from qualitative analysis was recommended.   Keywords: Commercialization activities, research results, biotechnology, academic researchers and qualitative analysis.
Harmonizing the Tenth Malaysia Plan Priorities with the New Economic Model and the Green World Order
Authors: Mustafa Saleem , Saad Shahbudin
Published: August 2020

The New Economic Model (NEM) is a need-based concept intended to integrate innovative ideas in chartering the path of socio-economic development of Malaysia. NEM is timely for building resilience into the economic systems through the participation of all, and for the benefit of all sections of the society. In a high income society, there will have to be value for money and money for value, reduction in subsidies, efficient fiscal management to reduce unnecessary expenditure, management of value-added and market-driven products and services, revamping of the education system, reviewing of R&D priorities, enhancing staff efficiency, less discussion for more action, less paper work for more output, and realistic targets for delivery. The sustainability dimension of NEM should envisage sustainable management of natural resources. This is achievable by aligning our activities with the new concept of ‘Green World Order’ which expands the existing peace and stability mottos of the World Order to include environment and sustainability. Under this concept there is a need for making changes in our activities. For example, short-term economic gains at the expense of long-term benefits that produce footprints of irreversible damage have to be addressed. Our development planning requires resetting in the light of environmental limitations to achieve the goals of NEM. With the valuation of the ecosystem services becoming increasingly important, we should pursue this matter aggressively to seek best deals for the natural resources we are blessed with. We can claim a substantial amount of international climate change mitigation funds because some of our resources (forests, mangroves and coral reefs) are carbon sinks which international agencies are seeking for investment. This not only generates resources for conservation but also brings dividends to the custodians of the carbon sinks. With an effective action plan, Malaysia can take advantage of the growing carbon market and green economy. The main elements of the proposed action plan are discussed in this paper.   Keywords: Development plan, green perspectives, economic model.
Predicting Work-Family and Familywork Conflict from Work and Family Domain: A Longitudinal Study
Authors: Hassan Zaiton , Hamidi Hana
Published: August 2020

Although work-family conflict studies are available in Malaysia, most rely on cross-sectional design and focus on women. This study uses the longitudinal design on a heterogeneous sample which is aimed to enhance the understanding of the antecedents of work-family conflict (WFC) and familywork conflict (FWC) from work and family demands and resources. The respondents were 296 employees in diverse industries from six public and private organizations in Kuching, Sarawak. Two surveys were conducted over a three-month interval. Structural Equation Modeling via AMOS 7.0 was used to analyse the data. The study found that the respondents reported higher WFC than FWC. Demands from work predicted WFC positively while resources from work predicted WFC negatively. None of the demands and resources from work and family predicted FWC. The findings implied the importance of organizations in influencing the work-family balance of the employees.   Keywords: Work-family conflict (WFC), family-work conflict (FWC), demands, resources.
Genuine Savings for Malaysia: What Does it Tell?
Authors: Othman Jamal , Falatehan Roby , Jafari Yaghoob
Published: August 2020

Resource and environmental economists have argued that the conventional GDP is not an adequate indicator to reflect if an economy is growing sustainably, as it does not consider the changes in national capital and pollution impacts. The World Bank Genuine Savings indicator, though in the weak sustainability form, provides an alternative measure. This paper calculates the Genuine Savings for Malaysia from 1990–2008. While the results show that the Genuine Savings for Malaysia has been positive, its ratio to GDP declines markedly following the economic crisis of 1997/98. Comparisons with selected countries, especially South Korea and Indonesia are also made. Policy implications are deliberated at the end of the paper.   Keywords: Malaysian genuine savings, sustainability path, macroeconomic sustainability measure.
An Empirical Study of Knowledge-Management Contextual Factor in the Emergence of Information Communication Technology in Schools
Authors: Ismail Ramlee , Awang Marinah
Published: August 2020

Information technology in schools aggressively emerged in the late 1990s to reinvent the teaching and learning process in Malaysia. Schools no longer existed merely for the purposes of traditional teaching and learning but were needed to enhance their knowledge activities so as to be able to cope with the rapid changes that were taking place. The objectives of this study are to determine the contribution of knowledge contextual factors to the knowledge activities, with particular reference to the emergence of information technologies in schools, and to evaluate progress with respect to knowledge activities in school education. The research is designed around questionnaires based on a knowledge-management conceptual framework administered to random samples of teachers in information technologyfacilitated schools and regular schools so as to be able to make comparisons. Interestingly the fi ndings show that the information technology under the “ICT Facilitated school” is not a key factor contributing to knowledge sharing among the teachers. The fi ndings also provide evidence that culture is the most important factor relating to a knowledge activity. Knowledge friendly, motivating staff , committ ed leadership, openness and mutual trust are some examples of positive school culture, whereas management factor remains crucial in facilitating learning and sharing among teachers.   Keywords: Knowledge management, school, culture, management, technology.
Organizational Commitment and Intention to Leave Among Nurses: The Mediating Role of Moral Obligation
Authors: Omar Khatijah , Mohamed Anuar Marhana , Abdul Majid Abdul Halim , Johari Husna
Published: August 2020

In today’s fast-paced economic competition, committ ed and loyal employees are important for the profi t-oriented organizations to gain and sustain their competitiveness. Even for non-profi t-oriented organizations like hospitals and universities, these committ ed and loyal employees will lead to bett er quality service and improved organizational performance. Thus, it is vital for the organizations to sustain employees’ commitment because once the employees’ commitments decrease, it would be diffi cult for organizations to retain their employees. This study investigated the relationship between organizational commitment and intention to leave among nurses in Malaysian public hospitals, and determined the role of moral obligation as a mediator on the relationship between organizational commitment and intention to leave. The study focused on permanent nurses working in public hospitals in Peninsular Malaysia. The results supported that organizational commitment was signifi cantly and negatively related to intention to leave. The macro results also showed that moral obligation was a mediator in the relationships between organizational commitment and the intention to leave. The results were crucial to be looked into so that management and employers could have ample understanding and guidelines if they were to draft retention strategies. Even though many studies had been conducted on the intention to leave, most of them were conducted in developed countries and this study is believed to enhance the literature gap since it has an emphasis in the Malaysian context.   Keywords: Intention to leave, organizational commitment, moral obligation.
Hubungan Dinamik antara Pasaran Saham dengan Kadar Pertukaran: Bukti Empirikal di Asean-3
Authors: Mohd Nor Abu Hassan Shaari , Kogid Mori , Sarmidi Tamat
Published: August 2020

Tujuan utama kajian ini adalah untuk menentukan hubungan antara pasaran saham dengan kadar pertukaran di negara ASEAN terpilih iaitu Malaysia, Thailand dan Filipina. Dengan menggunakan data bulanan bermula Januari 1994 hingga September 2011, hasil ujian Johansen dengan perubahan struktur menunjukkan wujud hubungan kointegrasi antara pasaran saham dengan kadar pertukaran bagi kes Malaysia dan Filipina sahaja. Walau bagaimanapun, hasil ujian penyebab Granger jangka pendek berdasarkan pendekatan dinamik VECM dan Toda-Yamamoto menunjukkan wujud hubungan penyebab dua hala antara pasaran saham dengan kada pertukaran bagi kes Malaysia dan Thailand dengan darjah hubungan penyebab Granger yang kuat daripada kadar pertukaran kepada pasaran saham di Malaysia. Sebaliknya tiada hubungan penyebab dapat dikesan bagi kes Filipina. Dua hasil penting daripada kajian ini adalah: (1) Kajian ini mencadangkan bahawa krisis kewangan Asia dan krisis ekonomi global memberikan kesan yang berbeza terhadap hubungan dinamik antara pasaran saham dengan kadar pertukaran di tiga negara yang dikaji; (2) Implikasi dasar ekonomi berkaitan hubungan antara pasaran saham dengan kadar pertukaran adalah bersifat khusus kepada sesebuah negara.   Kata Kunci: SP, REER, kointegrasi, Penyebab Granger, perubahan struktur.
Fiscalism as Spending and Monetary Integration
Authors: Choudhury Masudul Alam , Halid Noreha , Ahmed Mohammed Saleh , Hossain Mohammad Shahadat
Published: August 2020

Macroeconomic policy coordination and the fi eld of micro-foundation of the macroeconomic theory have been riddled with the contest of claimed effi cacy between the Keynesian school and the monetarist school. Keynesianism upheld the predominance of fi scalism (spending) in economic stabilization on the one side. Friedman’s monetarist theory vouched for the same on the other side. As a result of the monetary and fi scal contest between the two schools a convergence between them could not be att ained. Such a divide is similar in economic science as it has been a fi asco thus far in the physical sciences between Quantum Mechanics explaining the small world phenomenon, and Relativity Physics explaining the large world phenomenon. The nonhomogenous views of a unique reality in economics, as in science, have defied the unifi cation of theories and application for the greater objective of wellbeing in an embedded social economy, beyond sheer address of the stabilization question. Our paper strides out in the new direction of a socioscientific epistemological worldview of the unifi cation of monetary and fi scal (spending) regimes in a consolidated theory of complementarities between them. The paper does this by breaking new grounds that are based on the model of organic unity of knowledge, which acts upon the simulation of well being with the method of circular causation. A review of the literature and introduction of formalism are undertaken to expound the theme of economic stabilization by means of complementing monetary and fi scal (spending) regimes in a unifi ed theory, while addressing the simulation of well-being in a learning model of unity of knowledge. The emergent methodology presents the description of a system of inter-variables circular causation relations. An extensive review of the literature is undertaken. An empirical presentation and a case study establish the validity of the well-being model with circular causation.   Keywords: Monetary and spending regimes, epistemology and economics, economic stabilization, well-being.
The Effect of China and the Factors Affecting Foreign Direct Investments in Asean Countries
Authors: Wen Koy Pei , Yahya Mohamed Hisham , Rahman Roslinda , Abdul Hadi Abdul Razak
Published: August 2020

Foreign direct investment (FDI) plays an important role in bolstering economic growth. It acts as a pillar in supporting the industrialization and economic development of countries. The objectives of this study are to: (a) Recognise factors aff ecting FDI in countries in the Association of Southeast Asian Nations (ASEAN) region and (b) examine the eff ect of China’s entry into the World Trade Organisation (WTO) on the FDI in ASEAN countries. The Vector Autoregressive method (VAR) was applied to establish the factors that had signifi cant impacts on FDI infl ows over the period 1980–2010 for these countries. Apart from the conventional variables, such as market size, labour cost, interest rates, exchanges rates, corporate tax rates, and degree of openness, this study incorporates another variable, that is, the event of China joining the WTO. This is to determine whether the entry of China into WTO had any impact on FDI in the ASEAN region. The result reveals that, fi rstly, only market size is not a signifi cant factor in determining the FDI infl ows for all the ASEAN countries being studied (i.e. Indonesia, Malaysia, Philippines, Singapore and, Thailand). Secondly, most of the ASEAN member countries’ FDI are infl uenced by China’s entry into WTO in 2001.   Keywords: China, ASEAN, WTO, VAR, Foreign direct investment.
World Economic Trends: An Enquiry
Authors: Prabhakar Akhilesh Chandra
Published: August 2020

The series of current global economic and fi nancial crises especially in the USA and the European Stock Exchange Markets, the international division of labour and the global distribution of economic and political power led by free markets economies clearly indicate the collapse of Adam Smith’s ideology, and the Thatcher–Reagan free– market model that dominated thinking for 30 years has been discredited. A practical solution for the current ills is possible.   Keywords: International fi nance capital, crisis of capitalism, socialism is the future.
The Effects of Over, Required and Under-Education on Earnings in Manufacturing Sector in Malaysia
Authors: Zakariya Zainizam
Published: August 2020

This paper presents returns to education by taking into account the quality of jobs match held by workers in the manufacturing sector of Malaysia. This type of study is quite rare not only in the country but also across developing nations. Using the Second Malaysia Productivity Investment Climate Survey (PICS-2), nearly 20 per cent and 30 per cent of workers employed in jobs for which they are overeducated and undereducated, respectively. Further findings indicated that over-education is more acute amongst highly-educated workers whilst under-education is more evident for lowly educated workers. By gender, women have a higher proportion of over-educated workers compared to men. Consequently, over-education leads to lower productivity in terms of earnings. In the study, augmented Mincer earnings equation, i.e. the ORU model clearly showed that although returns to surplus education was positive ( ), the return was lower thanthe returns to required education ( ), approximately 6 per cent against 10 per cent. This means that overeducated workers earn significantly lower than their co-workers who are in similar jobs but who have less education, but well matched. Moreover, the ORU model signified that returns to required education was much greater than returns to actual educational attainment. All of these implied that the rate of return to education depends on the allocation of skills over jobs where earnings is not fully embodied but is (partly) determined by job characteristics and/or by the quality of the match between skills supplied by the worker and skills required by the job. Nevertheless, the situation of over-education among highly educated workers in the Malaysian labour market may impede the country’s intention to move toward the state of being a high-income country, as outlined in the “New Economic Model” blueprint, since it reduces individuals’ productivity. JEL Classifications: J24, J31   Keywords: Over-education, required education, surplus education.
Assessing The Role of External Debt in Economic Growth of The Asean-4 Countries: An Empirical Study
Authors: Mohd Daud Siti Nurazira
Published: August 2020

The Asian Financial Crisis in 1997 witnessed an episode of high accumulation of external debt among the crisis-hit countries, namely Indonesia, Malaysia, Philippines and Thailand. This leads to the issue of the role played by external debt in stimulating the economies of ASEAN-4 countries. This paper tries to examine the role of external debt in the economies of the ASEAN-4 countries. The results demonstrate that external debt plays a role in improving the economic growth of the ASEAN-4 countries. In addition, the accumulation of external debt is positively associated with Indonesia’s and Thailand’s economic growth up to an optimal level, beyond the optimal level the external debt has inversely contributed to the economy.   Keywords: External debt, ASEAN-4, economic growth.
Kerangka Konseptual Keadilan Islam dalam Pelaksanaan Penilaian Prestasi
Authors: Yusof Ab Aziz
Published: August 2020

Memanipulasi, mempolitik dan berlakunya pilih kasih adalah antara isuisu berkaitan keadilan organisasi dalam pelaksanaan penilaian prestasi yang telah lama dibincangkan oleh ahli akademik dan pengamal organisasi. Mereka sedar aspek keadilan harus diberi keutamaan kerana merupakan jalan penyelesaian kepada pelbagai permasalahan yang dihadapi di sepanjang proses pelaksanaannya. Bagi mereka, keadilan wujud apabila pekerja percaya mereka telah menerima ganjaran yang setimpal dengan sumbangan yang telah diberikan. Sungguhpun aspek keadilan telah diberi keutamaan tetapi masalah berkaitan dengan pelaksanaannya terus berlaku. Sehubungan dengan ini, pengkaji ingin meninjau kelebihan keadilan Islam yang seharusnya diaplikasikan sebagai satu usaha untuk membangunkan sistem penilaian prestasi yang lebih baik. Objektif kertas kerja ini bertujuan untuk meneroka keperluan keadilan Islam sebagai gantian terhadap jalan penyelesaian permasalahan ini. Keadilan Islam harus dilihat sebagai mekanisme yang mampu menghindarkan penilai daripada melakukan eksploitasi, memanipulasi dan mempolitikkan fakta, menyalahgunakan kuasa dan bertindak untuk kepentingan diri yang diterima sebagai sumber kepada kitaran ganas dalam pelaksanaan penilaian prestasi. Kajian seperti ini seharusnya diberi keutamaan dalam penyelidikan pada masa depan kerana menyedari permasalahan ini telah begitu lama dihadapi.   Kata kunci: Penilaian prestasi, keadilan, keadilan Islam dan Islam.