scholarly journals Performance of government linked companies and private owned companies in Malaysia

2016 ◽  
Vol 58 (2) ◽  
pp. 150-161 ◽  
Author(s):  
Padmanabha Ramachandra Bhatt
Keyword(s):  
High Performance ◽  
National Development ◽  
Performance Level ◽  
Private Companies ◽  
Content Type ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Significant Difference ◽  
Data Estimation ◽  
Malaysian Government

Purpose – The purpose of this study was to find whether there was any significant difference in performance between government-linked companies (GLCs) and private-owned companies (POCs) and there was any significant improvement in performance of GLCs after Malaysian Government ' s initiatives to transform the GLCs to high-performance companies. Design/methodology/approach – Panel data estimation techniques were used to run the regression in this study. Findings – It was found that there was no significant difference in performance level between GLCs and POCs. It was also found that the performance level of GLCs had improved significantly after the initiation of GLCs ' transformation programme by the Malaysian Government. Originality/value – The implication of the results of this study is that state-owned enterprises in developing countries like Malaysia can be relevant and important to take care of social responsibilities and needs, as also they can perform at par with private companies. There is no need for privatization of government-owned enterprises; rather, it needs corporatization. Government-owned enterprises can play an important role to drive national development.

Corporate governance in Malaysia: has MCCG made a difference

2016 ◽  
Vol 58 (4) ◽  
pp. 403-415 ◽  
Author(s):  
Padmanabha Ramachandra Bhatt
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Design Methodology ◽  
Listed Companies ◽  
Private Companies ◽  
Content Type ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Data Estimation ◽  
Selection Of

Purpose The purpose of this paper is to study the effect of Malaysian Code on Corporate Governance (MCCG) on the performance of the listed companies in Malaysia. Design/methodology/approach Panel data estimation techniques were used to run the regression in this study, following Baltagi (1995). The authors have selected 116 listed companies to Bursa Malaysia during the period 1996-2014, to study the effect of corporate governance on firm performance. Listed companies in Malaysia are mandatory to comply with MCCG rules and regulations. Findings It was found that there was a significant improvement in the performance of listed companies after Malaysian Government’s implementation of MCCG (2000) which means that MCCG matters for firm performance in Malaysia. It was also found that there was no significance difference in the overall impact of implementation of MCCG on performance level between government-linked companies (GLCs) and private companies (PCs). Research limitations/implications The authors have selected only 116 listed companies to Bursa Malaysia during the period 1996-2014, to study the effect of corporate governance on firm performance. The selection of the data was based on the availability of data in Thomson data stream. Originality/value The findings had contributed to the understanding that the MCCG has improved significantly the performance of listed companies in Malaysia.

Shadow economy in Africa: how relevant is financial inclusion?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Folorunsho M. Ajide
Keyword(s):  
Shadow Economy ◽  
Financial Inclusion ◽  
Sub Saharan Africa ◽  
African Countries ◽  
Content Type ◽  
Development Indicators ◽  
Panel Data Estimation ◽  
Sub Saharan ◽  
Data Estimation ◽  
Toda And Yamamoto

Purpose This study aims to investigate the possible relationship between financial inclusion and shadow economy in selected African countries. Design/methodology/approach The study uses panel data estimation technique and Toda and Yamamoto causality approach. The data of selected African counties over a period of 2005–2015 are sourced from World Bank Development Indicators, International Monetary Fund International Financial statistics database and International Country Risk Guide. Findings The results show that financial inclusion reduces the size of shadow economy. The causality results show that there is a unidirectional causality moving from financial inclusion to shadow economy. The results demonstrate that a country with lower level of corruption and higher level of growth can benefit more in reducing the size of shadow economy through financial inclusion. Originality/value This study provides the first evidence of the link between financial inclusion and shadow economy from the Sub-Saharan Africa perspective. The study suggests that financial inclusion may be useful in affecting the size of shadow economy in Africa.

scholarly journals Impact of Firm Performance on Corporate Governance Quality: The Case of Nigerian Manufacturing Firms

2020 ◽  
pp. 189-193
Author(s):  
R. A. Akinsokeji ◽  
E. O. Ogunleye ◽  
O. O. Akindele
Keyword(s):  
Firm Performance ◽  
Firm Size ◽  
High Performance ◽  
Manufacturing Firms ◽  
Board Structure ◽  
Panel Data Estimation ◽  
Pooled Data ◽  
Two Measures ◽  
Corporate Governance Quality ◽  
Data Estimation

In this study, the reverse impact of firm corporate performance on board structure is empirically examined using a large cross section of 50 manufacturing firms in Nigeria. The study makes a divergence from previous studies by noting that such a reverse effect is possible and examining this effect of performance on board structure in Nigeria. The panel data estimation technique is employed on the pooled data for the firms over a ten-year period (2004-2013) and estimation is performed using four measures of firm performance and two measures of board structure. The results show that there is actually reverse impact of firm performance on board structure although the effect is quite weak. The only performance variable that exerts significant impact on board structure (board size and independence) is earnings per share and, to a lesser degree profit margin. Moreover, firm size is shown to be an essential factor in explaining the general behavior of firm performance and also the pattern of effect of such performance on the board structure. The analyses clearly showed that firm size is itself a strong positive factor in improving firm performance and also tends to improve the effect of high performance on board structure across the firms.

Increasing organisational attractiveness

2018 ◽  
Vol 5 (2) ◽  
pp. 124-141 ◽  
Author(s):  
André de Waal
Keyword(s):  
High Performance ◽  
Large Scale ◽  
Performance Level ◽  
Quality Level ◽  
Content Type ◽  
High Performing ◽  
Customer Complaints ◽  
Positive Feeling ◽  
Study Results ◽  
High Performance Level

Purpose Happiness at work (HAW) is receiving much attention in the literature, as HAW seems to have a positive effect on organisational performance, such as in increase of productivity, lower turnover of employees and less customer complaints. There is however no research into the relation between HAW and the attractiveness of an organisation. It stands to reason that people who are happier at work are also happier about their organisation and express this to their family and friends. Having an attractive organisation is becoming increasingly important as the world is currently experiencing an economic boom creating shortages of qualified personnel. The paper aims to discuss this issue. Design/methodology/approach A possible way of creating an attractive organisation is by transforming the workplace into a high-performing organisation (HPO). The study described in this paper is looking in this respect at three hypotheses: H1. Higher HAW will increase the attractiveness of the organisation; H2. Becoming an HPO will increase HAW; and H3. Becoming an HPO will increase the attractiveness of the organisation. A large-scale survey of Dutch managers and employees was undertaken in which the respondents were asked their opinion of the high-performance level and attractiveness of their organisation, and their happiness with their job and organisation. Findings The study results show that the three hypotheses are basically confirmed. Increasing the happiness of work of employees, in general, raises the feeling of how attractive the organisation is to the employees themselves and to the external world. However, this positive feeling is mainly true for the work itself but not so much for how committed employees feel to the organisation. Practical implications Organisations now have knowledge at their disposal about ways to promote happiness in their employees, thus raising their attractiveness to current and future employees. Originality/value The study results indicate that senior management has to make more effort to raise the quality level of the organisation, preferably towards the high performance level, in order for employees to start feeling more committed to their organisation. This is because the study results show that transforming an organisation into a high-performance entity increases happiness of employees at work significantly, especially about their work and in a lesser degree with the commitment they feel towards the organisation itself. This result has not been found before, so this research provides managers for the first time with a validated way to help their staff to become happier and more productive.

Credit risk in dual banking systems: does competition matter? Empirical evidence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mohsin Ali ◽  
Mudeer Ahmed Khattak ◽  
Nafis Alam
Keyword(s):  
Credit Risk ◽  
Banking System ◽  
Islamic Banks ◽  
Content Type ◽  
Panel Data Estimation ◽  
System A ◽  
Size Groups ◽  
Conventional Banks ◽  
Fierce Competition ◽  
Data Estimation

PurposeThe study of credit risk has been of the utmost importance when it comes to measuring the soundness and stability of the banking system. Due to the growing importance of Islamic banking system, a fierce competition between Islamic and conventional banks have started to emerge which in turn is impacting credit riskiness of both banking system.Design/methodology/approachUsing the system GMM technique on 283 conventional banks and 60 Islamic banks for the period of 2006–2017, this paper explores the important impact of size and competition on the credit risk in 15 dual banking economies.FindingsThe authors found that as bank competition increases credit risk seems to be reduced. On the size effect, the authors found that big Islamic banks are less risky than big conventional banks whereas small Islamic banks are riskier than small conventional banks. The results are robust for different panel data estimation models and sub-samples of different size groups. The findings of this paper provide important insights into the competition-credit risk nexus in the dual banking system.Originality/valueThe paper is specifically focused on credit risk in dual banking environment and tries to fill the gap in the literature by studying (1) do the Islamic and conventional banks exhibit a different level of credit risk; (2) does competition in the banking system impact the credit risk of Islamic and conventional banks and finally (3) do the big and small banks exhibit similar levels of credit risk.

Infrastructure and Tourism Development

2017 ◽  
pp. 224-237
Author(s):  
Sourav Kumar Das ◽  
Tonmoy Chatterjee
Keyword(s):  
Tourism Development ◽  
Economic Reforms ◽  
Infrastructure Development ◽  
Indian States ◽  
Resource Potential ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
The Common ◽  
Data Estimation ◽  
Budgetary Allocation

Infrastructure is not the engine but the wheels of economic development. Since the onset of economic crisis, followed by economic reforms, the importance of infrastructure development has been emphasised through policy, pronouncements, higher budgetary allocation of funds, formation of Infrastructure development, etc. It opens out a region by providing an access to its tourist places. In its absence, the resource potential for tourism can't be of any benefit. In addition to the common infrastructure tourism development requires special infrastructures, which is growing importance to India and foreign tourists in recent years. This chapter tries to investigate the significance of infrastructure as a factor in tourism development by applying panel data estimation techniques upon 27 Indian States for the period 2005-2015 and finds that the infrastructure has been contributing positively to tourist arrivals, particularly from India and abroad. Apart from this we have also shown that tourist arrivals from host along with infrastructure expenditure will affect Indian tourism in a positive manner.

Does earnings transparency affect corporate payout decisions?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yogesh Chauhan ◽  
Rajesh Pathak
Keyword(s):  
Path Analysis ◽  
Fixed Effects ◽  
Financial Constraints ◽  
Dividend Policy ◽  
Cash Dividend ◽  
Content Type ◽  
Listed Firms ◽  
Panel Data Estimation ◽  
Signaling Hypothesis ◽  
Data Estimation

PurposeThe paper examines how earnings transparency affects dividend payouts for Indian firms. The authors also explore the channels through which earnings transparency affects dividend payouts.Design/methodology/approachThe authors employ panel data estimation with fixed effects to examine the role of earnings transparency on dividend payouts. The authors also use path analysis to explore causation. The paper uses a sample of more than 2000 Indian listed firms, over the period 2001–2016.FindingsThe authors report that firms showing grater earning transparency pay more cash dividend. Their results do not support the signaling hypothesis about the dividend. However, these results provide explicit support to the theory that corporate dividend policy is an outcome of information asymmetry. Moreover, the path analysis reveals the effect of earnings transparency on corporate payout through the financial constraint channel. The results are robust to idiosyncratic controls; alternate measures of payout; alternate models; endogeneity concerns; and the alternate channel of returning money to stockholders.Practical implicationsManagers should also examine earnings transparency while formulating an adequate dividend policy for their firms. This study also helps investors to identify dividend-paying stocks.Originality/valueThis study particularly contributes to the literature examining the effect of earnings quality on dividend payouts through its effect on financial constraints. We, therefore, connect two streams of research that contemplate the relation between accounting-based information variables and dividend payouts and the relationship between financial constraints and dividend payouts. Moreover, using path analysis uniquely, the authors provide evidence on the relative importance of both the direct and the indirect link.

scholarly journals Explaining Tourism Inflows in Greece: A Macroeconometric Approach

2016 ◽  
Vol 8 (4) ◽  
pp. 192 ◽  
Author(s):  
George Agiomirgianakis ◽  
George Sfakianakis
Keyword(s):  
Cross Sections ◽  
Model Fit ◽  
Relative Price ◽  
Explanatory Variables ◽  
Panel Data Estimation ◽  
Panel Data Estimation Techniques ◽  
Macroeconomic Indicators ◽  
Greek Economy ◽  
Disaggregated Data ◽  
Data Estimation

This paper investigates the determinants of tourism inflows to Greece. The significance of the specific sector for the Greek economy varies from 15% to 20% of GDP (measured directly or indirectly respectively). Building on the existing literature, panel data estimation techniques are used, with explanatory variables including selected macroeconomic indicators and (relative) price indices. The main innovation of the paper is that, regarding the cross section dimension of the sample, disaggregated data based on the country (or area) of origin are used, combined with the corresponding macroeconomic aggregates. The time-span of the data is the 2004-2010 period, with the specific econometric techniques used taking into account both the statistical properties of variables and the differences between the various cross sections. The main conclusion of the paper is that the macroeconometric approach to explaining tourist arrivals provides a very satisfactory model fit, with explanatory variables explaining a significant part of the variability of the dependent variable.

scholarly journals The effects of financial inclusion on agricultural productivity in Nigeria

2020 ◽  
Vol 22 (1) ◽  
pp. 61-79 ◽  
Author(s):  
Babajide Fowowe
Keyword(s):  
Agricultural Productivity ◽  
Financial Inclusion ◽  
Economic Activities ◽  
Data Set ◽  
Content Type ◽  
Individual Level ◽  
Panel Data Estimation ◽  
Agricultural Households ◽  
Household Activities ◽  
Data Estimation

PurposeFarmers are the largest group of financially excluded persons in Nigeria, thereby highlighting the supply shortfall in finance to agriculture in Nigeria. Availability of finance would go a long way in improving output and productivity in agriculture, and consequently help in reducing poverty. This study conducts an empirical investigation of the effects of financial inclusion on agricultural productivity in Nigeria.Design/methodology/approachThis study makes use of the Living Standards Measurement Study–Integrated Surveys on Agriculture (LSMS-ISA). This is a new data set on agricultural households which contains information on agricultural activities and various household activities, including banking, savings and insurance behaviour. Considering the data are such that there are observations for households over three time periods, the study exploits the time series and cross-section dimension of the data by using panel data estimation.FindingsThe empirical results of the study show that financial inclusion, irrespective of how it is measured, has exerted positive and statistically significant effects on agricultural productivity in Nigeria.Originality/valueWhile considerable research has been conducted to examine how finance affects broad macroeconomic aggregates, little is known about the effects of finance at the household and individual level. It is important to explicitly account for financial inclusion when examining the effects of finance on individuals and households. This study improves on existing research and offers new insights into the effects of financial inclusion on the economic activities of agricultural households in Nigeria.

The recalcitrance of oxalate, nitrate and nitrites during the controlled lactic fermentation of commonly consumed green leafy vegetables

2015 ◽  
Vol 45 (2) ◽  
pp. 336-346 ◽  
Author(s):  
A. Jagannath ◽  
Manoranjan Kumar ◽  
P S Raju
Keyword(s):  
High Performance ◽  
Leafy Vegetables ◽  
Spontaneous Fermentation ◽  
Content Type ◽  
Lactic Fermentation ◽  
Green Leafy Vegetables ◽  
Beneficial Effects ◽  
Balanced Diet ◽  
Significant Difference ◽  
Nitrate And Nitrite

Purpose – Green leafy vegetables (GLVs) are important components of a balanced diet especially in developing countries where the major requirements of micronutrients are met. However, GLVs also contain significant amounts of oxalate, nitrate and nitrites, whose role in the human diet is constantly changing. The current study explored the behavior of nitrate, nitrites and oxalate in lactic-fermented GLVs with an intention to develop functional foods based on them. Design/methodology/approach – Selected strains of beneficial lactic acid bacteria were used for the controlled fermentation of GLV, while an identical portion was subjected to spontaneous fermentation. The nitrate and nitrites were monitored spectrophotometrically, while oxalate contents were quantified by both titrimetric and by high-performance liquid chromatography throughout the duration of fermentation. Findings – More than 90 per cent of individual constituents studied remained intact in the GLVs paste after the six-day controlled fermentation period. However, there was significant difference between the controlled and spontaneously fermented samples in terms of oxalate, nitrate and nitrite contents. Originality/value – Controlled lactic fermentation although superior in all other aspects may not be able to lower the anti-nutrients present. The advantages of spontaneous fermentation vis-à-vis controlled fermentation are discussed. The work will bring out the importance of the beneficial effects of GLVs and the effect of lactic fermentation.

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