クアラルンプール株式市場における配当、自社株買戻しとパフォーマンス

博士(グローバルビジネス)大阪市立大

Investor sentiment, human capital and Fama French factors: measurement and performance in the Malaysian market

This paper examines pricing implications of investors’ behavioral biasness in the Malaysian equity market. By using monthly data from January 2000, through January 2014, we explore the impact of investor sentiment, human capital, and Fama-French risk factors in multiple factor asset pricing models. A unique seven-variable composite index is used for the measurement of investor sentiment. Results indicate that sentiment is a priced risk, and display the ability to capture returns unexplained by SMB (Small minus Big) and HML (High minus Low) factors. Evidence suggests that sentiment is a source of systemic risk, and effectively explains returns of stocks with opaque characteristics. Modeling aggregate labor income produces insignificant results, suggesting that there are no returns for human capital in the Malaysian equity market. The Fama and French three factor model together with investor sentiment risk achieves a substantial pricing efficiency

Occupational safety and health practice: a study at rubber manufacturing industry by using hirarc

Occupational Safety and Health Act (OSHA) is a discipline with broad scope involving many specialized fields. The definition of safety is the state of being ‘safe’, condition of being protected against physical, social, spiritual, financial, political, emotional, occupational, psychological, educational or other types of consequences of failure, damage, error, accidents, harm or any other events which can be considered non-desirable. Health is a state of complete physical, mental, and social well-being and not merely the absence of disease and infirmity. Engineers play their roles at workstations to ensure the safety and health of each staff is in good conditions with proper ergonomic condition. This study conducted occupational safety and health act study at Kenny Leather (M) Sdn Bhd. The site visit, observation and interview session were conducted. The objective of this study is to identify the current or potential hazard that might be occurred in the factory. This study also providing the suitable solution and precaution step towards the zero hazard for the factory for reducing the possible accidents or injuries. Some of the suggestion that has collected through data collected was carried out through site visit using Preliminary Hazard Analysis (PHA) and HIRARC form by interviewing several workers. As a result, this study gave recommendations to the company in order to practice the safe and no harm work practice and gives priority to the safety first

Testing the Rational Expectations Hypothesis on the Retail Trade Sector Using Survey Data from Malaysia

The rational expectations hypothesis states that when people are expecting things to happen, using the available information, the predicted outcomes usually occur. This study utilized survey data provided by the Business Expectations Survey of Limited Companies to test whether forecasts of the Malaysian retail sector, based on gross revenue and capital expenditures, are rational. The empirical evidence illustrates that the decision-makers expectations in the retail sector are biased and too optimistic in forecasting gross revenue and capital expenditures.REH, Unbiasedness, Non-serial Correlation, Weak-form Efficiency

Factors Affecting the Intention to Use E-Wallets during the COVID-19 Pandemic

The COVID-19 pandemic has reshaped the lifestyle of Malaysians. The government has introduced various incentives to encourage contactless transactions. Malaysia has also expe- rienced a spike in e-wallet transactions during the COVID-19 pandemic. However, there is no consensus on the reasons behind the rapid increase in the usage of e-wallets. This study aims to fill a knowledge gap by incorporating government support, the perceived risk, and social influence as the potential factors affecting the use of e-wallets. Survey data were collated from 598 respondents using Google Forms and analyzed using covariance-based structural equation modeling (CB-SEM). The findings confirm that perceived usefulness, government support, the perceived risk, and social influence are positively related to the attitude toward the usage of e-wallets. This attitude is also positively related with the user’s intention of using the wallets. The outcomes of this study may assist policymakers to devise effective strategies that are able to capture the users’ intentions to use e-wallets during the COVID-19 pandemic. This study also recommends that the government increases the incentives to speed up the formation of a cash- less society. The related organizations should also enhance public awareness on the usefulness of e-wallets in preventing virus transmission.

The application of integrated sustainability tool for separation of benzene and toluene mixture

Sustainability can be divided into three different dimensions as shown in figure 1, which are one-dimension (1-d) [1-2], two-dimension (2-d) [3] and three-dimension (3-d) [4]. sustainability tool was developed to assess and improve the sustainability of a process. however, the current developed sustainability tools are only based on one dimension of sustainability index, which mostly are 1-d sustainability [1]

Work flow improvement at Kenny Leather (M) Sdn. Bhd.

Kenny Leather who was located at Merlimau Industrial Estate, Melaka driving force in the manufactures of leather. The company supply its product internationally and the product are well known globally due to their product’s quality and their commitment to give their best to the customer. Former world number one player of golf, Tiger Wood is among the user of hand glove that were made by this company. Kenny Leather has 200 workers and all of their workers are Malaysian. The managing director is Mr. Tadashi Fujisawa and main share partner is Kenny Co. Ltd. The company motto is ‘one for all and all for one’. Kenny Leather (M) Sdn Bhd is the factory processed all the material consists of leather. The nature of business is manufacturing leather gloves (for gloves), betting gloves, dress leather, cut leather and dyed sheep/goat skin leather. This factory is one of the biggest suppliers for leather material. In fact the former number one golfer in the world which is, Mr. Eldrick Tont Woods, known as Tiger Woods is using leather products made by the Kenny Leather. One company known as FootJoy which is the main company that sponsor Tiger Wood accessories for golfing is almost 80% was supplied by Kenny Leather

Optimized scheduling for an airconditioning system based on indoor thermal comfort using the multiobjective improved global particle swarm optimization

In energy management system (EMS), the scheduling of air-conditioning (AC) system has been shown to reduce considerable amount of its power consumption with relatively low implementation cost. However, most scheduling methods lack a systematic approach to ensuring optimal power consumption reduction and comfort experienced by occupants. The main contribution of this paper is a new optimized AC scheduling approach that focuses on indoor thermal comfort using a new multi-objective optimization algorithm, called the improved global particle swarm optimization (IGPSO), which able to find better optimal solutions faster than its original version, the global particle swarm optimization (GPSO) algorithm. IGPSO is used to model the building characteristics and to find optimum indoor temperature values for the room/building. The proposed technique is based on predicted mean vote (PMV) comfort index that is able to reduce AC power consumption while maintaining indoor comfort throughout its operation. The schedule is set in advance by making use of weather forecast and the estimation of building characteristic parameters. This technique can be implemented on existing buildings with existing HVAC systems with minimal modifications to the HVAC infrastructure. Experimental results show that the proposed method is able to provide good PMV while consuming less power compared to the commonly used extended pre-cooling technique

COVID-19 and the Adaptive Role of Educators: The Impact of Digital Literacy and Psychological Well-Being on Education—A PLS-SEM Approach

Mobility restrictions during the COVID-19 pandemic raised mental health consequences. This paper examines the triangulation of Digital Literacy (DL), psychological well-being, and effectiveness of remote teaching and learning during the pandemic. Survey responses collected from 518 schoolteachers in Sri Lanka are analyzed with Partial Least Squares – Structural Equation Modeling (PLS-SEM) method. Results indicate that Remote Education (RE) has twisted a stressful life for educators. DL negatively affects the psychological well-being of the teacher. The effectiveness of teaching and learning and teacher engagement depends upon their DL level. Educators’ stress and depression status mediate the outcome of remote teaching and learning mode. Moreover, digital skills count more than the accumulated teaching experience. We emphasize the adaptive role of the teacher for sustainable digital education. The results indicate that augmented education success could be obtained by investing in digital competence. It suggests that upgrading DL is an urgent role and alarms the policymakers and education managers to mitigate the potential mental health and social capital crisis