Critical assessment of Islamic financial assets pricing in South-East Asia: evidence from NARDL modelling

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Monsurat Ayojimi Salami
Keyword(s):  
East Asia ◽  
Financial Services ◽  
Secondary Data ◽  
Wald Test ◽  
Weak Form ◽  
South East Asia ◽  
Financial Assets ◽  
Content Type ◽  
Long Run ◽  
Rockets And Feathers

Purpose This study aims to critically examine the pricing of Islamic financial assets (Sharīʿah-compliant assets, Sharīʿah-compliant securities, Sharīʿah-compliant financing and Sukuk) in the three South-East Asia countries such as Malaysia, Indonesia and Brunei to provide necessary information to the policymakers and Islamic finance investors for making a sound decision. Design/methodology/approach This study used secondary data and used the nonlinear autoregressive distributed lags (NARDL) model to estimate the reaction of Islamic financial assets in South-East Asia towards price changes. Wald-test was used to diagnose the final model. Findings The result of this study shows that the majority of Islamic financial assets in the three South-East Asia countries exhibit positive and negative long-run effects. The findings reveal a long-run asymmetric relationship that supports rockets and feathers effects. The indication is that Islamic financial assets pricing deviates from weak form EMH. Pricing of Islamic financial assets reveals unfair pricing. Practical implications Price adjustment of Islamic financial assets requires urgent attention of policymakers to prevent Sharīʿah non-compliant risk. Therefore, the Shariah advisory board in those countries, Accounting and Auditing Organization for Islamic Financial Institutions and Islamic Financial Services Board are hereby advised to act on the factors that might enable rockets and feathers effects on the pricing of Islamic financial assets, as the long-run asymmetric relationship is established. Originality/value This study is novel as it critically and simultaneously examines the pricing behaviour of Islamic financial assets in the three South-East Asian countries. The findings from the study provide vital information on the pricing behaviour of Islamic financial assets to the policymakers and investors.

Accounting graduate readiness for work: a case study of South East Asia

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Duc Phan ◽  
Prem Yapa ◽  
Ha Thanh Nguyen
Keyword(s):  
East Asia ◽  
Secondary Analysis ◽  
Secondary Data ◽  
Accounting Education ◽  
South East Asia ◽  
Multiple Sources ◽  
Content Type ◽  
Performance Expectation ◽  
Expectation Gap ◽  
Big Four

PurposeThis paper compares and contrasts graduate accountant skills and employers' expectations in South East Asia (SEA).Design/methodology/approachWe analyse the employers' expectation performance gap (EPG) in three countries – Indonesia, Malaysia and Vietnam – to provide a reflection on current professional accounting development in SEA. The study relies on data derived from multiple sources including job advertisements, CIMA “ready for business” project, Glassdoor website and other secondary data sources.FindingsThe findings indicate that over recent decades, the changing nature of the economy, state, and interest of the business sector (including the “Big Four”) have led to the wider adoption of professional accountancy qualifications. The findings suggest that graduates should be equipped with active learning activities such as project-based and work-integrated training to fill the expectation gaps between local university educators and employers.Research limitations/implicationsDrawing upon a literature review of professional accounting education, we use the results of the documentations and secondary analysis to describe the performance expectation gap of accounting education in SEA.Originality/valueThe study indicates a large discrepancy between the teachings in accounting education and employer requirements in Vietnam, Malaysia and Indonesia and propose different methods to fill this employability gap in South East Asia.

Saudi Arabia will boost South-east Asia oil investment

2016 ◽  
Keyword(s):  
Saudi Arabia ◽  
East Asia ◽  
East Asian ◽  
Energy Industry ◽  
South East Asia ◽  
Content Type ◽  
Long Run ◽  
Saudi Aramco ◽  
Oil Demand ◽  
East Asian Economies

Subject Saudi oil investments in South-east Asia. Significance Saudi Arabia sees the South-east Asian downstream sectors as a key frontier for investment in the energy industry, with the region being one of the most promising in terms of growing oil demand. As the global oil glut intensifies competition between oil-exporting countries, Saudi Arabia aims to forge stronger energy links with growing South-east Asian economies in order to safeguard its demand security in the long run. Impacts Saudi Aramco is likely to face competition for investment in the region from other oil-exporting countries, such as Russia. An IPO of Saudi Aramco could see revisions to some of the projects it is pursuing in South-east Asia. Saudi investments in South-east Asia could be downscaled if fiscal pressures continue.

Washington will engage more with South-east Asia

2021 ◽  
Keyword(s):  
United States ◽  
East Asia ◽  
The United States ◽  
South East Asia ◽  
National Unity ◽  
Content Type ◽  
Key Issues ◽  
Set Up

Significance She addressed two key issues during her trip: tensions in post-coup Myanmar and China’s growing regional footprint. Shortly after she left the region, the United States announced that it would donate unused COVID-19 vaccines abroad, including to South-east Asia. Impacts Washington will tighten its sanctions on the Myanmar military while supporting ASEAN’s five-point plan to ease the country’s crisis. The National Unity Government, a parallel administration to Myanmar’s junta set up by its opponents, will try to attract greater US backing. Manila and Washington may extend negotiations over renewing their Visiting Forces Agreement to prevent the pact expiring in August.

Parts of South-east Asia may adopt nuclear post-2030

2021 ◽  
Keyword(s):  
East Asia ◽  
Nuclear Power ◽  
Large Scale ◽  
East Asian ◽  
Energy Development ◽  
South East Asia ◽  
Asian Countries ◽  
Content Type ◽  
Electricity Grid ◽  
Renewable Energy Development

Significance It is the only country in South-east Asia with a large-scale nuclear plant, although this was never loaded with fuel. Other countries in the region have tentative plans to develop nuclear power programmes. Impacts The current absence of nuclear power programmes will help avert the diversion of capital from renewable energy development in the region. South-east Asian countries with small, non-power reactors, built for research, will try to maintain these facilities. Across the region, the need for electricity grid investment will increase as more decentralised generation sources are deployed.

scholarly journals Fiscal federalism and accountability in Nigeria: an ARDL approach

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Olabanji Olukayode Ewetan ◽  
Romanus Osabohien ◽  
Oluwatoyin Augustina Matthew ◽  
Abiola Ayopo Babajide ◽  
Ese Urhie
Keyword(s):  
Public Sector ◽  
Fiscal Federalism ◽  
Local Economic Development ◽  
Fiscal Decentralization ◽  
Secondary Data ◽  
Law And Order ◽  
Content Type ◽  
Distributed Lag ◽  
Long Run ◽  
Auto Regressive

Purpose The purpose of this paper is to examine the relationship between fiscal federalism and accountability in Nigeria. Corruption is a global plague and is endemic in nature. Several policies have been adopted by the Nigerian Government to institutionalize accountability and combat the scourge of corruption that have hindered socio-economic progress but to no avail. Design/methodology/approach Thus, this study examined fiscal federalism and accountability issues in Nigeria using secondary data and used the auto-regressive distributed lag econometric technique to analyse the data. Findings The results from this study reveal that fiscal federalism fails to mitigate corruption in the long run in Nigeria because of poor bureaucratic quality (BQ) and ineffective law and order (LOR). Social implications Fiscal decentralization must be accompanied by legislations that will strengthen BQ of fiscal institutions at subnational levels and promote effective LOR. Originality/value This study recommends that for fiscal federalism to mitigate corruption in the long run, government must adopt appropriate policies to improve BQ and further strengthen LOR in Nigeria. The finding also suggests that to promote public sector accountability in Nigeria, government should ensure the simultaneous decentralization of expenditure and revenue to lower tiers of government. This study provides detailed empirical evidence that fiscal decentralization without accountability will accentuate public sector corruption, and in the long run, weaken local economic development initiative to boost growth and development.

London will deepen engagement with South-east Asia

2021 ◽  
Keyword(s):  
United Kingdom ◽  
East Asia ◽  
South East Asia ◽  
Aircraft Carrier ◽  
Content Type ◽  
The United Kingdom ◽  
Defence Cooperation

Significance The United Kingdom eyes a strategic tilt to the Indo-Pacific, with South-east Asia a key focus because of its economic dynamism and the convening power of ASEAN. The aircraft carrier HMS Queen Elizabeth will deploy to the Indo-Pacific for six months later this year. Impacts The United Kingdom’s view of China as a systemic challenger makes a trade pact between the two countries unlikely. UK efforts to conclude a trade deal with India will be frustrated by Delhi’s protectionist approach. London will pursue closer defence cooperation with Tokyo.

South-east Asia digital controls hit connectivity plan

2021 ◽  
Keyword(s):  
East Asia ◽  
Internet Use ◽  
Authoritarian Regimes ◽  
Political Support ◽  
South East Asia ◽  
Donor Funding ◽  
Content Type ◽  
Digital Integration

Significance It seeks to accelerate recovery from COVID-19 by capitalising on the rise in internet use and digital trade during the pandemic. However, new restrictive laws on internet use in several countries run counter to these regional digital integration goals. Impacts Beijing will give technical and political support to countries such as Cambodia seeking to replicate the Great Firewall on a smaller scale. Authoritarian regimes will use internet controls to advance their commercial interests. Western donor funding for digital projects could be halted.

Prospects for South-east Asia in 2022

2021 ◽  
Keyword(s):  
East Asia ◽  
The Philippines ◽  
South East Asia ◽  
Content Type ◽  
Vaccination Rates ◽  
Thai Government ◽  
The Military

Significance Meanwhile, the Myanmar junta and the military-aligned Thai government are under pressure from opponents, and the Philippines is gearing up for elections. With COVID-19 vaccination rates varying greatly, some countries in the region are better placed than others to revive their pandemic-hit economies.

scholarly journals The contribution of human resource development managers to organisational branding in the hotel industry in India and South East Asia (ISEA): a dynamic capabilities perspective

2020 ◽  
Vol 43 (1) ◽  
pp. 131-153
Author(s):  
Adebayo Serge Francois Koukpaki ◽  
Kweku Adams ◽  
Adegboyega Oyedijo
Keyword(s):  
East Asia ◽  
Human Resource Development ◽  
Human Resource ◽  
Dynamic Capabilities ◽  
Hotel Industry ◽  
Resource Development ◽  
South East Asia ◽  
Quality Service ◽  
Content Type ◽  
Dynamic Capabilities Perspective

PurposeThis research explores the significant contribution of human resource development (HRD) managers in building organisational brands in the hotel industry through the lenses of dynamic capabilities for sustaining competitiveness.Design/methodology/approachUsing a qualitative case study design, this study deployed a semi-structured interview research method. It used a purposive sample of 20 HRD managers across twenty different hotels in India and South East Asia (ISEA) to explore their contribution to organisational brands. The data was analysed using thematic analysis.FindingsThe findings show the significance of HRD in building organisational brands. From a dynamic capabilities perspective, it was found that HRD has an impact on fostering brand awareness culture; HRD functional branding enhances the creation and sustaining of quality service culture; functional branding of HRD helps differentiate the brand and quality service, for product development and innovation by linking talent development and growth of key competencies and capabilities; brand training and behavioural training directly influence the right behaviour knowledge and effective communication that is translated into the enhancement of guest experience; and finally, organisational branding through branding culture and employer branding creates organisational wealth.Originality/valueThe authors propose a new conceptual framework for the branding of the Heroes to reclaim the HRD's splendour in the realm of other functions in the hotel industry in ISEA contexts. While the authors do not claim an external generalisability, we believe that an analytical application of this framework could be relevant in similar environments. The study also claims that HRD practitioners could use parallel literature repertoires from brand management discourse to value their strategic contributions in building and maintaining their reputational position at the board level. Practical implications and further research are discussed.

Strengthening Islamic Finance in South-East Asia Through Innovation of Islamic FinTech in Brunei Darussalam

2020 ◽  
pp. 202-226
Author(s):  
Abdurrahman Raden Aji Haqqi
Keyword(s):  
East Asia ◽  
Financial Services ◽  
Industrial Revolution ◽  
Financial Sector ◽  
Islamic Finance ◽  
South East Asia ◽  
Significant Challenge ◽  
Fourth Industrial Revolution ◽  
Brunei Darussalam ◽  
Descriptive Method

Fintech solutions can revolutionize Islamic financial services and leverage on the so-called ‘Fourth Industrial Revolution' which is the movement towards combining everyday aspects of our lives, such as finance, into the digital realm that will help increase speed, efficiency, and convenience. The most significant challenge for all countries pursuing Fintech is regulating the industry. Following the issuance of the Financial Sector Blueprint, the Fintech Unit was established under Autoriti Monitori Brunei Darussalam (AMBD). AMBD envisions a vibrant economy powered by ICT through ICT-Smart Citizens as well as being a connected and efficient nation. This chapter discusses the application of Fintech specifically in Islamic finance sector based on the descriptive method of research by concentrating on its regulations. At the end, the research found that though Fintech in Islamic finance sector has been done since it's emerging through Guidelines Fintech Regulatory Sandbox Guidelines Islamic financial Fintech will be strengthened and developed and more diversified.

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