Fund Family Selectivity Skills and Market Timing Ability: Comparison Study

This study aims to examine fund family performance, in terms of selectivity skills and marketing timing ability, in Saudi Arabia, Malaysia, Indonesia, and Pakistan in 2007–2021. The sample is divided into three levels. First, analysis of the whole sample. Second, analysis by country. Third, analysis of Islamic- and conventional-focused families. The main results are: First, the fund family provides numerous advantages and facilities to managers, for instance diversification opportunities and market research, allowing them to select stocks well. However, their timing ability is still poor. Second, Saudi Arabia has the best performance while Pakistan has the worst performance. Third, as a novel contribution, there are difference in skills and ability between Islamic and conventional family managers due to their difference in main objectives. The findings are important for managers and investors. Managers can position themselves better relative to their competitors, while investors can more effectively allocate their resources to funds that are managed well by fund families

The Effect of System Quality and User Quality of Information Technology on Internal Audit Effectiveness in Jordan, And the Moderating Effect of Management Support

The goal of this study is to ascertain the moderating role that management support has in internal audit effectiveness in Jordan, as well as the impact of system quality and user quality of information technology. There were 172 responders in all, and they were split across Jordanian auditors. In the data analysis process, the quantitative analysis test— which consists of the validity test, reliability test, test of conventional assumptions, and hypothesis test—is applied. Information technology system and user quality are independent variables in this study. The dependent variable in this study is internal audit effectiveness, and the moderating variable is management support. The results of this study show that the effectiveness of internal audits is significantly impacted by the system quality and user quality of information technology. Additionally, with Management support acting as a moderating factor, the link between System quality and Audit effectiveness improves. The findings also indicate that when moderating variables are present, the connection between User quality and Audit effectiveness changes from positive to negative. Future research might look at risk management

The Impact of the Efficiency and Effectiveness of Electronic Accounting Information Systems on the Quality of Accounting Information

The purpose of this study is to evaluate the influence of Efficiency of EAIS and Effectiveness of Electronic Accounting Information Systems on Accounting Information Quality. The total number of respondents in this survey was 168, with the bulk of them working as accountants in Jordanian enterprises. The quantitative analysis test, which comprises the validity test, reliability test, traditional assumptions test, and hypothesis test, is used during the data analysis process. The efficiency and effectiveness of electronic accounting information systems are independent factors in this study. The quality of accounting information is the studys dependent variable. The outcomes of this study reveal that the efficiency and effectiveness of EAIS have a significant or modest impact on the quality of accounting information. The (F) simoultant test and (t) partial findings reveal that the two independent variables have a significant point, confirming the hypothesis. As a result, it is commonly assumed that the efficiency and effectiveness of EAIS have an influence on the accounting information of Jordanian enterprises

The Influence of Supply Chain Management Strategies on Organizational Performance in Hospitality Industry

The studys primary goal is to analyze the connection between SCM practices and organizational performance, and it also aims to evaluate the moderating role of management type. Quantitative data collected from Jordans hotel and restaurant workers via questionnaire. Structural equation modeling is used to examine the hypothesized relationships. Organizational Performance is positively impacted by effective information sharing. Information Quality (IQ) positively affects Organizational Performance (OP), and Strategic Supplier Partnerships (SSP) play a crucial role. Customer Relationship Management (CRM) had no discernible effect on OP, according to the study. OP is positively impacted by Postponement (POS) techniques. When implemented, postponement increases the efficiency of the supply chain and the happiness of guests. Type of Managements moderating effect is investigated. It moderates the effects of Strategic Supplier Partnerships (SSP), Information Quality (IQ), Customer link (CR), and Postponement (POS) on Organizational Performance (OP) but has no effect on the link between Information Sharing (IS) and Organizational Performance (OP). The success of Jordans hotel sector relies in part on how well its supply chain is managed. Insights from this research can help those working in the hotel industry improve supply chain operations and efficiency. Improving guest experiences and being competitive in Jordans fast-paced hospitality industry may be driven through bolstering cooperation, creating strategic partnerships, and investing in information quality

The impact of computer assisted auditing techniques in the audit process: an assessment of performance and effort expectancy

The rapid advancement of technology has had a significant impact on a wide range of industries, including the auditing industry. It is now obvious that employing Computer Assisted Auditing Techniques (CAATs) is a possible tactic for enhancing the effectiveness and efficiency of the audit process. This study evaluates how CAATs affect auditors' expectations for performance and effort in Jordan. Through a comprehensive survey of Jordanian auditors, this research provides insights into the factors that drive CAATs adoption. Utilizing structural equation modeling, the study confirms that both Effort Expectancy and Performance Expectancy positively influence CAATs adoption. These relationships are supported by robust path coefficients and low P-values, indicating statistical significance. The results of this study should clarify the possible advantages of including CAATs in the audit process and point out any difficulties auditors could encounter. Companies and professionals may choose wisely whether to embrace and use CAATs by comprehending Performance Expectancy and Effort Expectancy

ATTRIBUTES AND PERFORMANCE OF FUND MANAGEMENT COMPANIES: EVIDENCE FROM THE LARGEST SHARIAH-COMPLIANT FUND MARKETS

Background and Purpose: The study examines the effect of fund management companies’ (FMCs) attributes on FMC performance in the four countries with the largest number of Islamic funds from 2007 to 2018.   Methodology: The study uses pooled regression analysis on 70 FMCs, comprising Saudi Arabia (25), Malaysia (20), Indonesia (14) and Pakistan (11). The sample is further divided into FMC with Islamic funds focused (IFFMC) and conventional funds focused (CFFMC).   Findings: Only past flows are insignificantly related to performance. Both proxies for size positively relate to returns, but only in the case of Saudi Arabia. In Pakistan, performance improves with assets under management (AUM), while in Malaysia and Indonesia, an increasing number of funds negatively relate to performance. A relatively high number of better performing funds positively affect FMC and vice versa. Additionally, there are significant differences in the factors determining IFFMC and CFFMC performance, with the number of funds and AUM positively affecting the performance of IFFMC but not CFFMC. Poorly performing funds adversely affect CFFMC but not IFFMC.   Contributions: This study provides useful information for investors using a top-down approach to FMC then fund selection, and for managers in evaluating the impact of factors like FMC scale and scope on performance. The impact of these attributes differs between CFFMCs and IFFMCs which lies in the performance differences commonly observed, at the FMC and fund level.   Keywords: Islamic funds management industries, Islamic mutual fund, fund performance, Islamic finance.   Cite as: Marzuki, A., Bani Atta, A. A., & Worthington, A. (2022). Attributes and performance of fund management companies: Evidence from the largest Shariah-compliant fund markets. Journal of Nusantara Studies, 7(1), 114-141. http://dx.doi.org/10.24200/jonus.vol7iss1pp114-14

Selectivity and market timing ability of mutual fund houses in emerging countries

The paper investigates the selectivity and market timing ability of fund houses in emerging countries. The study uses comprehensive performance models on fund houses from four emerging countries. Data span is from 2007 to 2018. Findings indicate that fund managers benefit from the common facilities provided by the fund houses like market research, diversification and investment opportunity. Fund houses showed good selectivity skills but poor market timing ability.The possible reason is that fund houses manage large and different types of funds. This resulted in more complex management processes and thus reduced the ability to track the fluctuations in the market. The findings are important for investors as they are able to allocate their resources more effectively to funds that are best managed by fund houses while for managers, they are able to position themselves relative to their competing peers

ISLAMIC VS CONVENTIONAL FUNDS WITHIN THE FAMILY: SELECTIVITY SKILLS AND MARKET TIMING ABILITY

ABSTRACT The aim of the study is to compare the performance of Islamic mutual fund (IMF) and conventional mutual fund (CMF) within the same family, in addition, to examine the performance of fund family in Malaysia for the period from 2007 to 2018. The study used eight measures of performance, raw returns, excess returns, Sharpe ratio, Treynor ratio, Jensen alpha, Carhart four-factor model as selectivity models, In addition to Treynor & Mazuy (TM) and Hendrickson & Merton (HM) as market timing models. The study contributes by investigating and compares the performance at the family level. The results reported that IMFs exhibited some fund selection ability over CMFs. However, both types of funds displayed poor market timing ability. At a fund family level, the results show the fund families exhibited good fund selections skills, at the same time, fund family still exhibited poor market timing ability. The novel result of this study that the difference in performance between Islamic and conventional funds shrank compared to the results of previous studies. Due to the common advantages offered by the families for both types of funds. The findings are important to investors because the results provide new evidence about the fund families' performance. Most investors follow the top-down approach, where mutual fund investors initially choose fund families before deciding which funds to hold. In addition, the results are important for managers to decide which types of funds that they may issue in their own families, so that they can perform well in the future

STAR AND POOR FUND PHENOMENA IN ISLAMIC- AND CONVENTIONAL-FOCUSED FAMILIES: EMERGING COUNTRY EVIDENCE

The aim of this study is to investigate star and poor phenomena and their impact on the flows of Islamic-focused family (IFF) and conventional-focused family (CFF). The sample includes the four emerging countries with the largest number of Islamic mutual funds from 2007 to 2018 (Saudi Arabia, Malaysia, Indonesia, and Pakistan). Panel regression analysis was used to examine the impact of dummy star and poor as independent variables, and family age, size, number of funds, past returns, and total risk as control variables for fund family flows. The results show that the dummy star has a significantly positive relationship with family flows. Family managers have succeeded in attracting more investors by using the strategy of advertising the best performing funds. However, in both, all families and IFF, the dummy poor has a negative relationship, but is insignificant. On the other hand, for CFFs, the dummy poor is significantly negative. This is because investors in IFFs, unlike those in CFFs, have more loyalty due to their moral and religious goals in addition to traditional goals. The novel finding of the study is the difference in the star phenomenon between the IFF and CFF. The findings are important for managers, as they will help them to create appropriate strategies to attract more flows and increase the assets under their management. In addition, the findings will help investors to direct their money to appropriate families

Towards an Understanding of FinTech Users’ Adoption: Intention and e-Loyalty Post-COVID-19 from a Developing Country Perspective

Earlier literature has shown that the implementation of FinTech innovations is not only determined by banks, financial institutions, or government support, but also by the perception and experiences of FinTech users. FinTech research has shown encouraging findings from scholars in developed countries. However, little is known about the users’ acceptance and use of FinTech in Jordan. The aim of this study is to investigate the determinants of users’ intentions and e-Loyalty toward FinTech adoption in Jordan post the COVID-19 era. A conceptual framework was developed by integrating the four original constructs of the unified theory of acceptance and use of technology (UTAUT), namely performance expectancy (PE), effort expectancy (EE), social influence (SI), and facilitating conditions (FC), with three additional factors: personal innovativeness (PI), financial literacy (FL), and uncertainty avoidance (UA). In addition, the proposed model considered the e-Loyalty of FinTech users as a consequence of having a good FinTech experience. A quantitative approach using a cross-sectional online questionnaire was applied to collect data from 423 FinTech users. Data were analyzed utilizing structural equation modeling (SEM) based on AMOS 26.0 software package. The findings revealed that UA has a moderating effect on the relationship between FC and users’ intentions. Also, PI has a significant impact on PE and EE. While PE, SI, and FC are factors that enhance behavioral intentions. In return, it builds users’ e-Loyalty toward FinTech services and is deemed a new normal behavior. This study may help FinTech service providers and policymakers better understand the, currently relatively low, usage rate of FinTech, and how it contributes to the development of strategies that boost the acceptance and e-Loyalty of FinTech by Jordanian users after the COVID-19 era, where FinTech is still considered an innovation