Pulangan,risiko dan kemeruapan sektor sekuriti diluluskan syariah : Pendekatan GARCH dan CAPM bersyarat

Bagi menunjukkan sistem kewangan Islam adalah satu alternatif yang terbaik, maka prestasi saham syariah perlu dikaji dun membandingkannya dengan saham konvensional. Pulangan yang tinggi akan menarik pelabur membuat pelaburan dalam sekuriti tersebut.Ini kerana pulangan kepada syarikat seterusnya dibahagikan kepada para pemegang saham dalam bentuk keuntungan dan dividen Walau bagaimanapun, pelabur juga mengetahui bahawa pelaburan yang berisiko tinggi akan menjamin pulangan yang tinggi (high risk high return).Oleh itu, kajian ini adalah satu usaha untuk mendalami pengetahuan tentang prestasi pulangan sekuriti lulus Syariah. Salah satu kajian yang perlu dilakukan ialah melihat hubungan di antara pulangan dan beta (pengukur risiko) dan peranan beta dan CAPM dalam menerangkan perbezaan keratan rentas pulangan sekuriti lulus Syariah. Kajian ini menumpukan kepada 456 sekuriti lulus Syariah yang tersenarai di Papan Utama dengan melihat hubungan bersyarat purata pulangan dan beta bagi sekuriti-sekuriti yang diluluskan oleh Majlis Penasihat Syariah. Sementara itu kemeruapan pulangan saham ditakrifkan sebagai serakan terhadap purata pulangan saham atau lebih dikenali sebagai varians. Maklumat dan pengetahuan mengenai gelagat kemeruapan pulangan saham begitu penting kepada ahli ekonomi dan para penganalisis kewangan dalam menyelesaikan beberapa masalah ekonomi yang berkaitan. Poterba dan Summers (1986) telah mengaitkan pengaruh keberterusan pulangan terhadap hubungan antara perubahan kemeruapan dengan harga saham manakala Bollerslev et. al. (1992) pula menyatakan bahawa terdapat tiga sifat yang mempengaruhi kemeruapan pulangan saham iaitu sifat keberterusan pulangan, sifat min-varians, dan sifat hubungan tidak simetri. Kajian ini menggunakan model-model keluarga ARCH untuk menganalisis gelagat kemeruapan pulangan saham lulus syariah di Bursa Saham Kuala Lumpur, Malaysia. Penganggar empirikal ini menggunakan data mengenai harga saham lulus syariah untuk setiap hunter, volume dagangan, Indeks industri Dow Jones (IZDJ), Indeks Syariah, Indeks Komposit, Kadar Faedah Antara Bank dun Kadar Faedah Antara Bank Islam. Analisis seterusnya adalah membandingkan dapatan untuk melihat hubungan antara risiko,pulangan dan kemeruapan

Pulangan dan beta sekuriti lulus syariah di Bursa Malaysia: Satu bukti keratan rentas menggunakan CAPM bersyarat

Objektif kajian ini ialah untuk mengkaji hubungan bersyarat antara pulangan dan beta sektor sekuriti lulus Syariah dengan menggunakan analisis regresi keratan rentas.Regresi pulangan dan beta tanpa membezakan antara pulangan lebihan pasaran positif dan negatif menghasilkan hubungan tidak bersyarat ‘flat’ antara pulangan dan beta bagi semua sampel kajian.Kajian ini juga bertujuan untuk menguji adakah beta memainkan peranan penting dalam menerangkan perbezaan keratan rentas pulangan sektor sekuriti lulus Syariah. Selain itu, kajian ini membuat perbandingan antara hubungan tidak bersyarat dan hubungan bersyarat antara beta dan pulangan sektor sekuriti lulus Syariah berdasarkan pendekatan Hodoshima (2000) iaitu statistik ringkas seperti R2 terlaras dan sisihan piawai persamaan dan Fletcher (1997) iaitu menggunakan magnitud nilai sebenar anggaran kecerunan.Dengan menggunakan CAPM bersyarat dan analisis regresi keratan rentas, bukti dalam kajian ini cenderung menyokong hubungan positif yang signifikan ketika minggu pasaran naik dan hubungan negatif yang signifikan ketika pasaran jatuh bagi semua sampel kajian.Kajian ini mencadangkan bahawa beta merupakan alat yang berguna dalam menerangkan perbezaan keratan rentas dalam pulangan sektor sekuriti lulus Syariah dan menyokong kesinambungan penggunaan beta sebagai pengukur risiko.Berdasarkan kepada R2 terlaras, sisihan piawai persamaan dan magnitud nilai sebenar anggaran kecerunan, hubungan bersyarat antara pulangan dan beta didapati lebih kuat ketika pasaran jatuh berbanding ketika pasaran naik dan didapati hubungan ini lebih sesuai diukur dengan pendekatan Fletcher (1997) berbanding Hodoshima (2000) dengan menggunakan kaedah CAMP Bersyarat oleh Pettengil (1995)

Pulangan dan beta sektor sekuriti diluluskan syariah: Bukti keratan rentas menggunakan CAPM bersyarat

Objektif kajian ini ialah untuk mengkaji hubungan bersyarat antara pulangan dun beta sektor sekuriti lulus Syariah dengan menggunakan analisis regresi keratan rentas. Regresi pulangan dun beta tanpa membezakan antara pulangan lebihan pasaran positif dun negatif menghasilkan hubungan tidak bersyarat 'flat' antara pulangan dun beta bagi semua sampel kajian. Di samping itu ia bertujuan untuk menguji adakah beta memainkan peranan penting dalam menerangkan perbezaan keratan rentas pulangan sektor sekuriti lulus Syariah. Kajian ini juga akan membuat perbandingan antara hubungan tidak bersyarat dan hubungan bersyarat antara beta dun pulangan sektor sekuriti lulus Syariah berdasarkan pendekatan Hodoshima (2000) iaitu statistik ringkas seperti R2 terlaras dun sisihan piawai persamaan dan Fletcher (1997) iaitu menggunakan magnitud nilai sebenar anggaran kecerunan. Dengan menggunakan CAPM bersyarat dun analisis regresi keratan rentas, bukti dalam kajian ini cenderung menyokong hubungan positif yang signifikan ketika minggu pasaran naik dan hubungan negatif yang signifikan ketika pasaran jatuh bagi semua sampel kajian. Kajian ini mencadangkan bahawa beta merupakan alat yang berguna dalam menerangkan perbezaan keratan rentas dalam pulangan sektor sekuriti lulus Syariah dun menyokong kesinambungan penggunaan beta sebagai pengukur risiko. Berdasarkan kepada R2 terlaras, sisihan piawai persamaan dun magnitud nilai sebenar anggaran kecerunan, hubungan bersyarat antara pulangan dan beta didapati lebih kuat ketika pasaran jatuh berbanding ketika pasaran naik dun didapati hubungan ini lebih sesuai diukur dengan pendekatan Fletcher(1997) berbanding Hodoshima (2000)

Kemeruapan pulangan pasaran indeks syariah Kuala Lumpur (KLSI): analisis model GARCH

Volatility of stock returns can be defined as a dispersion of stock return mean, which is known as variance. Information and knowledge about the behaviour of stock return volatility is pertinently important to economists and financial analysts in order to solve related economic problems. Poterba and Summers(1986) relate the influence of continuous volatility in relation with changes in stock price volatility, while Bollerslev, Chou and Kroner, (1992) mentioned that there are three factors that influence the volatility behaviour which are continuous volatility, means-variance and asymmetric relationship. This research used the ARCH family model in analysing the volatility of "syariah" compliant stock return at BSKL because of its importance in analysing and predicting volatility. Empirical estimators used were syariah compliant stock prices for every counter, volume trading, Dow Jones Industrial Index, Syariah Index, Composite Index, lnterbank Interest Rate and Islamic Interbank Interest Rates. The research duration was from 2 January 1995 to 13 June 2003. The duration was then divided into two periods with the first period starting from 2 January 1995 to 29 April 1999, which was before the launch of syariah compliant stock. The second was after the launch of syariah compliant stock from 30 April 1999 to 13 June 2003

Factors Affecting Quality in Construction Project Life Cycle (CPLC)

Quality is among the critical element in managing a construction project. Unfortunately, according to several established documents, issues related to quality in the Malaysian construction project are still rampant. Therefore, to delve deeper into the predicament, understanding the factors affecting construction quality was deemed essential. This even more vital given the minimal number of manuscripts looking into the matter accordingly with the generic construction project life cycle (CPLC). Thus, to operationalise the initial research, a mixed methodology endeavour was selected. This by carrying out a Multi-layered Thematic Analysis (MLTA) to determine factors affecting the quality in the CPLC and questionnaire survey to validate each factor's agreement. Through the MLTA, the results show several similarities in factors, especially in the off-site phases. Whereby in the on-site phases, factors related to 4 M's (money, material, manpower, and machinery) were found to be common. Then, through the questionnaire survey, each factor's mean and median values indicate that the majority of respondents were agreed (scale of 4 to 5) with the dedicated phase of each factor. To sum up, there is evidence that different CPLC has different factors affecting construction quality. In the current form, the findings are valuable as a basis for subsequent research undertaking, e.g. focusing on the micro perspective of quality within each phase and parties involved in the construction project

Understanding the usage of whatsapp among Malaysian employees through the lens of social influence theory

The study examines the social influence factors that affect the intention for using WhatsApp application among employees in a Malaysian organisation. The objectives of the study are to ascertain the reasons for the employees to currently use WhatsApp and to examine the factors that affect the use of WhatsApp based on Social Influence Theory perspective. The nature of the study’s methodological design was qualitative. The main instruments for data collection were focus group discussions and in-depth interviews. Purposive sampling technique was adopted to ensure that the employees chosen had the relevant knowledge about WhatsApp. The findings indicated that compliance, internalization and identification were three important social factors that could influence the employees to use WhatsApp in their routine work as predicted by Social Influence Theory. This study contributes some insights regarding the factors that can contribute to the usage of social media and strengthen the ideas of Social Influence Theory in Malaysian context

Observation of temporary accommodation for construction workers according to the code of practice for temporary construction site workers amenities and accommodation (ms2593:2015) in Johor, Malaysia

The Malaysian government is currently improving the quality of workers temporary accommodation by introducing MS2593:2015 (Code of Practice for Temporary Site Workers Amenities and Accommodation) in 2015. It is in line with the initiative in the Construction Industry Transformation Programme (2016-2020) to increase the quality and well-being of construction workers in Malaysia. Thus, to gauge the current practice of temporary accommodation on complying with the particular guideline, this paper has put forth the observation of such accommodation towards elements in Section 3 within MS2593:2015. A total of seventeen (17) temporary accommodation provided by Grade 6 and Grade 7 contractors in Johor were selected and assessed. The results disclosed that most of the temporary accommodation was not complying with the guideline, where only thirteen (13) out of fifty-eight (58) elements have recorded full compliance (100%), and the lowest compliance percentage (5.9%) are discovered in the Section 3.12 (Signage). In a nutshell, given the significant gap of compliance between current practices of temporary accommodation and MS2593:2015, a holistic initiative need to be in place for the guideline to be worthwhile

Factors affecting quality in Construction Project Life Cycle (CPLC)

Quality is among the critical element in managing a construction project. Unfortunately, according to several established documents, issues related to quality in the Malaysian construction project are still rampant. Therefore, to delve deeper into the predicament, understanding the factors affecting construction quality was deemed essential. This even more vital given the minimal number of manuscripts looking into the matter accordingly with the generic construction project life cycle (CPLC). Thus, to operationalise the initial research, a mixed methodology endeavour was selected. This by carrying out a Multi-layered Thematic Analysis (MLTA) to determine factors affecting the quality in the CPLC and questionnaire survey to validate each factor's agreement. Through the MLTA, the results show several similarities in factors, especially in the off-site phases. Whereby in the on-site phases, factors related to 4 M's (money, material, manpower, and machinery) were found to be common. Then, through the questionnaire survey, each factor's mean and median values indicate that the majority of respondents were agreed (scale of 4 to 5) with the dedicated phase of each factor. To sum up, there is evidence that different CPLC has different factors affecting construction quality. In the current form, the findings are valuable as a basis for subsequent research undertaking, e.g. focusing on the micro perspective of quality within each phase and parties involved in the construction project

Reduced mitochondrial DNA content in lymphocytes is associated with insulin resistance and inflammation in patients with impaired fasting glucose

Altered mitochondrial DNA (mtDNA) is the most common denominator to numerous metabolic diseases. The present study sought to investigate the correlation between mtDNA content in lymphocytes and associated clinical risk factors for impaired fasting glucose (IFG). We included 23 healthy control and 42 IFG participants in this cross-sectional study. The measurements of mtDNA content in lymphocytes and pro-inflammatory markers derived from both normal and diseased individuals were quantified. Spearman partial correlation and multivariate statistical analyses were employed to evaluate the association between mtDNA content and other metabolic covariates in IFG. Reduced mtDNA content was observed in the IFG group with microvascular complications than those without complications. The IFG patients with lowest median of mtDNA content had considerably elevated hyperglycemia, insulin resistance and inflammation. The adjusted partial correlation analysis showed that mtDNA content was positively correlated with HDL-cholesterol and IL-10 (P < 0.005 for all). Further, multiple linear regression analyses verified that reduced mtDNA content in lymphocytes was independently associated with HOMA-IR (β = 0.027, P = 0.003), HbA1c (β = 0.652, P = 0.002), HDL-cholesterol (β = − 1.056, P = 0.021), IL-6 (β = 0.423, P = 0.002), IL-10 (β = − 1.234, P = 0.043) and TNF-α (β = 0.542, P < 0.001) after adjustment for confounding factors. Our data show that reduced mtDNA content in lymphocytes was associated with insulin resistance and inflammation in individuals with IFG