Board mechanisms and Malaysian Family Companies' Performance

Many overseas studies discussed the topic of corporate governance and performance in family companies, however, few studies have been conducted in Malaysia. The objective of this paper is to examine the board mechanisms and family companies’ performance using three performance indicators (Tobin’s Q, Earnings Per Share & Operating Cash Flow). The sample size is 189 family companies listed on Bursa Malaysia from 2003 to 2007. The findings from this study reveal that some of the board mechanisms influence family companies’ performance. This study evidenced that family companies with a large board size, low directors’ expertise and duality leadership contribute to higher family companies’ performance. However, this study found that the academic qualification of directors does not influence firm performance. Therefore, generally, regulators and investors need to be sensitive to the fact that family companies do have differences in corporate governance practices compared to non-family companies

To estimate an equation explaining the determinants of Dowry

The focus of this study is to estimate an equation explaining the determinants of dowry. In this paper, we address a very common socio-economic problem for sub-continent, the problem of dowry. From a social planner's perspective, who wants to reduce overall dowry transfers, we consider the effect of change in a few relevant parameters like husband height, wife height, wet land, dry land, years of marriage and years of education for women & men on these decisions. According to the various studies the dowry phenomenon is exist heavily in rural sub-continent, at the same time research related to this system is very rare. The aim of this paper is to estimate an equation explaining the determinants of dowry. Several interpretations for dowry are distinguished using a simple theoretical framework and the predictions of this model are tested. Using the data provided us for this project is tested and reliable so that we will be able to draw our own testable relationships and determinants of dowry. The data will be use in the following sections for further analysis by estimating the determinants of dowry using multiple regression analysis. The study suggests that even though there are religious and cultural differences, the system of dowry in Pakistan appears to be for the same reasons as in India A theoretical framework was developed that was inclusive of all the required variables by testing through the multiple regression analysis and the experimental findings shows the independent variable used to test have an impact on dowry by applying multiple regression step-wise method.Dowry, Household, Jahez, Marriage

Fishing for a Future: Women in Community Based Fisheries Management

This is the story of women in the Community Based Fisheries Management (CBFM) project in Bangladesh. In rural Asia (Southern)-Bangladesh; many women are involved in inland fisheries and fish farming activities, yet annual statistics fail to capture their importance. Year after year these women continue to be essential in improving nutrition, increasing the production and distribution of food and enhancing the living conditions of their families. Yet, fisher-women remain among the poorest and most vulnerable in this part of the world. This is the story of many women, who through CBFM, have improved and will continue to improve the livelihood of their family. They are the women fishers of Bangladesh. This is their story

Environmental consequences of economic growth and foreign direct investment: evidence from panel data analysis

This paper is aimed at investigating non-linear relationship between foreign direct investment and environmental degradation using panel data of 110 developed and developing economies. The results indicated that environmental Kuznets curve exists and foreign direct investment increases environmental degradation.Economic Growth, FDI, Environment

PERLINDUNGAN HUKUM TERHADAP ANAK KORBAN KEJAHATAN SEKSUAL (SUATU PENELITIAN DI KABUPATEN ACEH SELATAN).

Banda Ace

Working Capital Management Efficiency of Cement Sector of Pakistan

The corporate finance literature has traditionally focused on the study of long-term financial decisions. Researchers have particularly examined investments, capital structure, dividends or company valuation decisions, among other topics. However, short-term assets and liabilities are important components of total assets and needs to be carefully analyzed. Management of these short-term assets and liabilities warrants a careful investigation since the working capital management plays an important role for the firm’s profitability and risk as well as its value. It requires continuous management to maintain proper level in various components of working capital i.e. cash, receivables, inventory and payables etc. The present study is an attempt to evaluate the efficiency of the working capital management of cement sector of Pakistan for the period 1988-2008. Instead of employing the traditional ratios; working capital efficiency has been measured in terms of utilization index, performance index and total efficiency index as suggested by Bhattacharya (1997). This paper also tests the speed of achieving the target level of efficiency by an individual firm during the period of study using industry norms as the target level of efficiency. Findings of the study indicate that the cement sector as a whole did perform well during the study period

Does defence spending impede economic growth? cointegration and causality analysis for Pakistan

This study revisits the relationship between defence spending and economic growth using Keynesian model in Pakistan by applying ARDL bounds testing approach to cointegration for long run and error correction method for short span of time. Empirical evidence suggests a stable cointegration relationship between defence spending and economic growth. An increase in defence spending retards the pace of economic growth confirming the validation of Keynesian hypothesis in the country. Current economic growth is positively linked with economic growth in previous period while rise in nonmilitary expenditures boosts economic growth. Interest rate is inversely associated with economic growth. Finally, unidirectional causality running from military spending to economic growth is found.Defence Spending, Economic Growth, Cointegration, Causality, Pakistan

Corporate Governance Mechanisms, Succession Planning and Firm Performance: Evidence from Malaysian Family and Non-Family Controlled Companies

The combination of corporate governance mechanisms and family succession play an important role in enhancing companies' performance, and in ensuring that family companies are sustained for the next generation. This study investigates the effect of corporate governance mechanisms (board and ownership structure) and succession attributes with company performance among Malaysian listed companies. This study used the panel data approach, and 420 companies on Bursa Malaysia were included as the sample. The results explain that family-controlled companies have higher firm value than non-family controlled companies. However, not all elements of governance mechanisms are significant, and the effects differ between family-businesses and non-family businesses. The results indicate that larger board size and inclusion of professional directors (experts) enhance firm value, both for family and non-family controlled companies. Further analysis shows that family and non-family companies that practise dual leadership show higher company performance. In terms of ownership structure, managerial and family ownership were found to show a non-linear pattern (entrenchment-alignment-entrenchment) with firm performance. Findings also signify that family CEO, CEO with higher education background, young CEO's and second generation CEO's enhance greater company performance. Thus, regulators need to note the different corporate governance practices between family and non-family businesses, and to create a pool of independent directors with-experience and skills in enhancing better corporate governance in Malaysia

Validitas Perangkat Pembelajaran Biologi Berorientasi Model Problem Based Learning (Pbl) Bermuatan Karakter

Kompetensi dasar pada materi sistem sirkulasi untuk Sekolah MenengahAtas (SMA) menghendaki siswa agar dapat mengembangkan kemampuananalisis, yaitu pemecahan masalah, serta mengembangkan kompetensi sikap dan kompetensi keterampilan. Guru hendaknya dapat mengembangkan perangkat pembelajaran sehingga tuntutan kurikulum dapat tercapai. Tujuan dari penelitian ini adalah menghasilkan perangkat pembelajaran biologi berorientasi model PBLbermuatan karakter. Penelitian ini merupakan penelitian pengembangan dengan menggunakan model pengembangan Plomp yang terdiri atas tiga tahap, yaitu investigasi awal (preliminary research), pembuatan prototipe (prototyping phase) dan tahap penilaian (assessment phase). Penelitian ini dilakukan sampai pada tahap pembuatan prototipe. Pada tahap investigasi awal dilakukan analisis situasi dan permasalahan dalam pembelajaran biologi, analisis kurikulum dan analisis siswa. Pada tahap pembuatan prototipe telah dihasilkan perangkat pembelajaran yang selanjutnya divalidasi oleh ahli. Hasil penelitian menunjukkan bahwa perangkat pembelajaran yang dikembangkan telah valid. Hasil validasi RPP oleh validator adalah 88,91% (sangat valid). Hasil validasi handout adalah 83.02% (sangat valid). Hasil validasi LKS adalah 83,32% (sangat valid) dan hasil validasi instrumen evaluasi adalah 88.53% (sangat valid). Dapat disimpulkan bahwa perangkat pembelajaran biologi berorientasi model PBL bermuatan karakter pada materi sistem sirkulasi untuk siswa SMA telah valid