The Relationship between Economic Growth and Capital Structure of Listed Companies: Evidence of Japan, Malaysia, and Pakistan

Corporate enterprise is a natural outcome of capitalism in the course of economic development. The underwriter firms and banks etc. initially meet the capital requirements of such enterprise. Later on it is the stock exchange that carries out redistribution of shares of the enterprise. Corporate decisions on capital structure policy have long been a subject of debate and still remain an unresolved issue. The traditional view of capital structure was that it results in the weighted average cost of capital being U-shaped, which means that there exists as an optimal mix between debt and equity, at which point a firm’s value is maximised. However, Modigliani-Miller (1958), in a world of no tax and no financial distress, proved that capital structure is irrelevant to explaining firm values. When company taxes are considered, the benefits from tax shield leads Modigliani-Miller (1963) to conclude that the value maximising capital structure is extreme leverage. In a subsequent paper Miller (1977), by introducing both corporate tax and personal taxes into the model, points towards irrelevance of capital structure for any particular firm.

PSO modelling and PID controlled of automatic fish feeder system

Automatic fish feeding system is an electronic device that is designed to distribute fish pellets at particular time with maximum speed regulation. There are three (3) main parts in the system which are storage, dispenser and distribution parts. A problem has been reported that the distribution part was not performed at the required speed. The main objective of this study is to improve the performance of fish feeding system by using PID controller through ARX modelling. In this study, raw data at distribution part with speed of 130 rpm, 160 rpm, 190 rpm, 220 rpm and 250 rpm were extracted and used to determine ARX equation parameters as transfer function by using PSO algorithm to optimize ARX model parameter. Validation tests used was residual analysis. The best transfer function was then used as a modelling plant in the simulation process with PID controller to determine the optimum PID parameters. Finally, implementation of a PID controller into real time system was done to verify whether this system improved or not. The PSO analysis showed that the best ARX model was at 190 rpm speed because of well superimposed predicted model with the actual system. The lowest normalized output MSE value is 0.0042015 , the lowest convergence output error value is 0.0040886, the stable pole zero map and correlation test verify the accuracy of the model reaching a 95% confidence level. ARX model parameters obtained using the PSO algorithm are two inputs ( , ) and two outputs ( , ). The input parameter obtained is (− 0.3391, − 0.4329) while the output parameter is (− 0.06498, − 0.08334). The optimum PID parameter value obtained by the auto tune method is = − 3.4854, = − 50.2207 and = 0.05815. In conclusion, the PID controller successfully improved the performance of the fish feeding system with the highest percentage of speed change of 92.59%

Islamic Economics system In the Eyes of Maulana Maududi-An Analysis

Attempt has been made to investigate the Islamic Economics System from the perspectives of Maulana Maududi. He is one of the greatest thinkers that Islamic world has ever produced. He was a great scholar, and has written a large number of books, articles and booklets on different aspects of Islam. Economics has been one of the fields of his interest. It may be said that at least in the Sub-Continent, he was the person, who has established “Economics of Islam” as a separate branch of knowledge. In this context, he has highlighted the characteristics, principles and objectives of this system. On the pattern set by him, a large number of Muslim economic thinkers have followed his line of thinking. According to Maulana Maududi basic principles of Islamic economic systems are: private ownership, limits of halal and haram, economic equality, free economy and welfare role of state. Whereas this system is established to achieve the objectives of human liberty, simultaneous development of material and moral growth, establishment of justice, equal distribution of wealth, fulfillment of basic needs of people and co-ordination between different groups of society.Islamic economic system, Principles, Objectives.

A Requirement Modeling for Customer Relationship Management (CRM) System for University Alumni

In this study, the main problem identified as it is difficult to adopt suitable open source Customer Relationship Management (CRM) system for university alumni due to lack of requirement modeling. Therefore, the objective come out for this study is to design a requirement modeling for university alumni. Research methodology for this study is based on Design Science Research Process (DSRP) methodology. After identifying the problem and objective in Phase 1 and 2, gathering requirements and modeling it is continued in Phase 3. The information for this project is gathered from Persatuan Alumni Universiti Utara Malaysia (PAUUM). Based on the requirements, evaluation on two open source CRM software which is SugarCRM and vTiger is completed in Phase 4. Results from this study shows that SugarCRM is suitable for university alumni management.One of the reason is because SugarCRM able to provide successful recruitment, retention, and fundraising strategies. In addition, SugarCRM offer efficient communication, capable to manage costs of operations with limited budgets, has better stability and scalability, and offer more features and support

The Relationship between Economic Growth and Capital Structure of Listed Companies: Evidence of Japan, Malaysia, and Pakistan

Corporate enterprise is a natural outcome of capitalism in the course of economic development. The underwriter firms and banks etc. initially meet the capital requirements of such enterprise. Later on it is the stock exchange that carries out redistribution of shares of the enterprise. Corporate decisions on capital structure policy have long been a subject of debate and still remain an unresolved issue. The traditional view of capital structure was that it results in the weighted average cost of capital being U-shaped, which means that there exists as an optimal mix between debt and equity, at which point a firm’s value is maximised. However, Modigliani-Miller (1958), in a world of no tax and no financial distress, proved that capital structure is irrelevant to explaining firm values. When company taxes are considered, the benefits from tax shield leads Modigliani-Miller (1963) to conclude that the value maximising capital structure is extreme leverage. In a subsequent paper Miller (1977), by introducing both corporate tax and personal taxes into the model, points towards irrelevance of capital structure for any particular firm

The Nature of Infaq and its Effects on Distribution of Weal

Infaq is one of the basic terms of Quran, which is used in Quran, at almost sixty places. It is basically pious spending in the way of Allah. It has a significant importance in Islamic economic principles, with reference to redistribution of wealth and elimination of poverty. At different places Quran has described its different aspects, e.g. its need, conditions, ways and monetary and non monetary results. It is used by holy prophet, Peace be upon him (P.B.U.H) at different occasions to fulfill the needs of individuals and society as well. In order to ensure the better distribution of wealth which is the need of time, it is necessary to follow the orders of Infaq as given in Quran, and also the guidelines provided by holy prophet P.B.U.H., therefore, the basic objective of this paper is to analyze the role of these spending particularly infaq as a tool of equitable income distribution in an Islamic society.Infaq Quran, Allah

An Analytical Review of Different Concepts of Riba (Interest) in the Sub-Continent

The traditional concept of Riba (interest) is an excess amount on loan, which creditor receives from debtor on the repayment of loan. There is almost a consensus on the sprit of this concept that it is traditional thought or school; but along with that some other point of views also exist, which present Riba, in somewhat different ways, will be termed as non-traditional approach in this paper. Both of these schools are agreed on the point that, Riba is just restricted to debt, and the increment on it is Riba; but the main difference among these is that: former approach claims that, each and every addition on loan, regardless of purpose and time duration of loan is Riba; but, the later approach demand’s some room for that on different grounds. Actually both of them do not have any sound base. When the concept of unearned income (the income, which is not the result of human labor), is a recognized fact in Islamic economics in different forms, like: ijara (rent), Mudoraba and Mazara’a (Share Cropping); then definitely no logical reason is left to avoid excess income on loan. Both approaches are just unable to give a concrete concept of Riba.Riba, Interest, Rent, Share Cropping

In silico simulation of blood glucose-insulin dynamics using MATLAB-Simulink

Diabetes mellitus (DM) is a major public health concern in Malaysia and it continuously increases over years. Based on International Diabetes Federation, there are rising numbers of people having diabetes with 3.6 million people in Malaysia and 463 million people in the world [1]. The National Health and Morbidity Survey (NHMS) 2019 has shown that the diabetes in Malaysia has increased from 13.4% in 2015 to 18.3% in 2019 [2]. This can significantly increase the cost in diabetes treatment and management

Studies on bus services and passenger demand sustainability

People along Kuantan - Gambang road always have a problem to get bus transportation. They need to wait for a long time to get a bus service. Sometimes, the bas that pass by the Kuantan - Gambang road is always late to arrive at a certain destination. This will make many of people would use personal transport rather than using the bus transportation. Extension from this, the rate of congestion along Kuantan - Gambang road will keep increasing causing by the personal transport such as car, motorcycle, van and Lorries. Beside, the facilities for the bus such as bus stop, is not enough. Certain place did not have a bus stop although the passenger always waits for bus at that place. The comfortable of bus passenger must be maintained so that the quality of bus service could be enhanced and this will attract more passengers to use the bus. This study is to identify the time for bus journey for bus that pass by the Kuantan - Gambang road in certain time, the total passenger use the bus, and identify a suitable location to place a bus stop and the frequency of bus stop use by the passenger. A special table has been made to collect the data such as time, total passenger, type of bus, list of bus stop along Kuantan - Gambang road and bus schedule for arrive and depart to Kuantan town. Passenger calculation for on or off from the bus is already use in developed countries to measure the rate of bus usage as well as enchance the management of bus staff from time to time. This calculation is use in building such as library, the supermarket, commuter station, and airport. The result of studies show that the rate of bus usage in Gambang area is not encouraging because of lack in bus facilities and the time for bus Journey is not suitable. From this studies, the bus schedule could be identify, total passenger use the bus and bus stop can be provide in a strategic location can be identify. Thus, i would like to proposed so that this studies is applies for each transport services such as train, airport, and bus especially to increase the rate of bus usage in Malaysia