Information asymmetry, trading volume and returns in the Malaysian stock market

This paper examines investors’ motive to trade on the Malaysian stock market from 1st July 1997 to 30th June 2005. By applying ordinary least square (OLS) to 272 stocks as well as in three size groups, both the time series and cross-sectional results indicate that speculation on firm specific asymmetric information is the primary motive to trade on Malaysian stock market for the full and two sub-sample periods. The results show that most of the investors in Malaysian stock market tend to speculate firm related information to maximize their profits. The findings of this study provide important implications to policy makers in addition to investors in this developing market. Proper management of foreign portfolio investment is crucial to prevent manipulative moves and excessive speculative forms of portfolio investments that may cause excessive surges of inflows and massive panic outflows of short-term capital and thus collapse the financial system and downturn economy

Do online stock recommendations add value to Malaysian stock brokerage customers? / Lai Ming Ming and Lau Siok Hwa

This paper examines online buy, sell, and hold recommendations provided by brokerage analysts in post dot-com bubble burst in Malaysia which has created the Multimedia Super Corridor. The results reveal significant value added factor of the online recommendations on stocks’ abnormal returns particularly on the release day. However, the very short-lived returns did not continue through the incorporation period. Quarterly results of the firms appear to be the most frequent rationale attributed for a recommendation made by the analysts. We suggest that brokerage customers capitalise on the advancement of information and communication technologies in their financial decisions making. For the financial services firms, the online services would be better integrated as part of the marketing strategies in enhancing customer satisfaction

Factorization of Multivariate Positive Laurent Polynomials

Recently Dritschel proves that any positive multivariate Laurent polynomial can be factorized into a sum of square magnitudes of polynomials. We first give another proof of the Dritschel theorem. Our proof is based on the univariate matrix Fejer-Riesz theorem. Then we discuss a computational method to find approximates of polynomial matrix factorization. Some numerical examples will be shown. Finally we discuss how to compute nonnegative Laurent polynomial factorizations in the multivariate setting

Professional students’ technology readiness, prior computing experience and acceptance of an e-learning system / Lai Ming Ling and Chong Moi Moi

This study examines professional students’ state of technology readiness, prior computing experience and acceptance of an e-learning system. We administered 2,189 questionnaires on students pursuing the professional examinations in Malaysia. A total of 453 usable questionnaires were received. Rockbridge Associates Inc (1999), the survey found that professional accounting students were neither highly techno-ready nor highly technoresistant. The respondents were classified into five categories, explorers (9%), pioneers (35%), skeptics (39%), paranoids (14%) and technology laggards (3%). Overall, the findings showed that the respondents had strong usage intentions of e-learning system; they exhibited positive attitudes towards elearning, and perceived that e-learning system was easy to use and was useful in enhancing their academic performance. This study provides the insight that professional bodies ought to intensify information and communication technologies (ICT) integration into the accounting education curriculum and assessment policies, and to motivate professional students in using ICT and e-learning

In Light of Visual Arts – A knowledge transfer partnership project as experiential learning

Knowledge transfer between universities and the commercial sector is becoming more prevalent, and different processes have been adopted to facilitate the transfer of knowledge. The ‘In Light of Visual Arts’ project aimed to facilitate knowledge exchange in relation to an innovative concept, the ‘eco-philosophy of light’, between the lighting industry and the arts and cultural sector through an Informal Learning approach. Young visual artists, light designers and lighting technicians were encouraged to explore and exchange experiences in the areas of visual communication, art appreciation and art archiving to create practical lighting solutions. This project offers a feasible framework for the enhancement of artistic training through knowledge sharing, for the benefit of the participants themselves and, in turn, academia, industry and the community. Keywords: informal learning, experiential learning, knowledge transfer, art education, interdisciplinary stud

Land, Livelihood and Rana Tharu Identity Transformations In Far-Western Nepal

This paper examines the interlocking relationships between land, livelihood and the identity transformations of Rana Tharus in far western Nepal. I argue that the formation and transformation of ethnicity is not simply shaped by social changes specifically as a strategic tool for sharing more political power. It also serves as an important currency for the people to achieve a better livelihood. The nature of ethnicity is in fluidity and artificiality. While ideologies concerning ‘Sanskritization’ (the social mobility of non-high caste groups by emulating Hindu ideologies and practices) and ‘Indigenousness’ (social movements that are anti-Hindu and anti-caste) have dominated the discussion of social reforms and ethnic movements in Nepal, I find that a ‘multiple identities’ and hybrid approach is more relevant to Rana Tharus’ situation. My ethnographic data supports the contention that Ranas actively used multiple identities and cultural practices to achieve an equal social footing as the dominant hill settlers (Pahaaris). They imitated hill cultures on the one hand but also clung to some of their traditional customs and were proud of ‘being Rana’. The motivation behind this was to obtain a better livelihood. This identity and cultural management was the major force in the transformation of Rana society