660 research outputs found
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Capital market offenses in Malaysia
Purpose – The purpose of this study is to review and evaluate the salient features of stock market
manipulation in Malaysia. The research questions used are: Who was involved? How it happened? What were
the consequences?
Design/methodology/approach – This study has been conducted using content and thematic analysis.
This study includes multiple sources of information to help establish the stylized facts and it uses cases that
have been prosecuted in Malaysia for 2005-2015.
Findings – This study presents arguments and empirical data supporting the view that the stock market
manipulation was conducted by those in a privileged position and with access to information. Ethical failure,
involving greed, self-interest, dishonesty and a preoccupation with a quick profit, could explain why stock
market manipulation happened. Manipulation harms legitimate investors, as share prices and earnings of
companies are affected.
Practical implications – A better understanding about the prevalence, characteristics and consequences
of the market manipulation problems will be useful for stakeholders, investors and policymakers in the
financial industry for promoting and maintaining a fair, efficient and transparent stock market.
Originality/value – The originality of this paper lies in examining and presenting interpretations based
on contemporary phenomenon within the real-life context of Malaysia. There is little study or literature that
focuses on Malaysia, especially in examining stock market manipulation by integrating finance and
management perspectives to form a comprehensive understanding of the issue
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Structural break and cointegration in Malaysian Stock Market
This study explores the empirical influence of domestic and foreign factors on equity pricing in Malaysia
for the period 1990-2013. This research seeks to determine if the dynamics have changed over time with the period of
study spanning across major episodes of crisis such as the Asian Financial Crisis, the Global Financial Crisis and the
European Debt crisis. Advanced econometric techniques namely unit root test with structural breaks, multivariate
cointegration analysis, error correction model and innovation accounting technique are employed in the analysis. The
findings show that share prices and macroeconomic variables (inflation rate, industrial production, money supply and
US share price) are cointegrated in Malaysia for the period 1990-2013. In the long-run, consumer price index and US
share prices contribute positively to share price movement while industrial production and money supply have a
negative relations with KLCI. As for short-run dynamic interaction, Malaysia share prices are not significantly affected
by lagged information from macroeconomic variables. Macroeconomic activities have weak explanatory power on
stock market movements in short-run. Structural change has occurred after the Asian Financial Crisis
A Research of Design, Lateral Stability and Simulation for a Chassis Running in Forest
Forest roads are short of structured terrain. Individual wheels often cannot contact the ground
when conventional chassis is driving, and the mobility is weak. In addition, the lateral rollover
usually occurs. In this article, a forestry chassis with a novel articulated structure with three
degrees of freedom (FC-3DOF(II)) is proposed. Compared with conventional chassis, the
novel articulated structure is designed, which contributes to achieving full-time contact between
wheels and ground. The mobility is improved. For the lateral stability, the previous
lateral rollover model of chassis is often established by the geometrical position of COG (center
of gravity) of the frame. This method is applied with limitations, which is not universal.
Therefore, a new accurate lateral rollover model for FC-3DOF(II) is derived, which predicts
the lateral stability by analyzing tire contact forces. The new lateral rollover model is more
general and recovers the previous model. To verify the theoretical analysis exactly, the virtual
prototype of FC-3DOF(II) is established in SolidWorks, and simulations of lateral rollover
are carried out in ADAMS. In simulation experiments, the lateral stability is predicted by
analyzing tire contact forces when the inclination of terrain is increasing. Two conditions are
considered in simulations. The lateral stability of FC-3DOF(II) and FC-3DOF(II) installed
rectangular objects. Compared to the simulation and theoretical results, for FC-3DOF(II), the
maximum absolute percent difference of the contact force with the theoretical analysis relative
to the simulation is only 1.83%. For FC-3DOF(II) installed rectangular objects, the simulation
results show that the lateral rollover is caused by the rear up-slope wheel when the inclination
of terrain reaches 34°. The theoretical result relative to the simulation is only 2.90%. The
maximum absolute percent difference of the contact force with the theoretical analysis relative
to the simulation is only 2.50%. Simulation results validate the effectiveness of the proposed
lateral rollover model in two conditions
Reliability and Hardware Implementation of Rank Modulation Flash Memory
We review a novel data representation scheme for NAND flash memory named rank modulation (RM), and discuss its hardware implementation. We show that under the normal threshold voltage (Vth) variations, RM has intrinsic read reliability advantage over conventional multiple-level cells. Test results demonstrating superior reliability using commercial flash chips are reviewed and discussed. We then present a read method based on relative sensing time, which can obtain the rank of all cells in the group in one read cycle. The improvement in reliability and read speed enable similar program-and-verify time in RM as that of conventional MLC flash
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