Papers by Haslindar Ibrahim
International Journal of Monetary Economics and Finance, 2020
This study aims to examine the effect of repatriation taxes and earned/contributed capital mix on... more This study aims to examine the effect of repatriation taxes and earned/contributed capital mix on the dividend repatriation policy of the foreign subsidiaries of US multinational corporations (MNCs) worldwide. In addition, it investigates the moderating effect of firm financial maturity on the relationship between repatriation taxes and dividend repatriation policy. The present study uses secondary data to evaluate the impact of various
Sources of Inefficiency of the Waqf Institutions in Malaysia
The purpose of this study is to assess the efficiency of the Waqf institutions organized by the S... more The purpose of this study is to assess the efficiency of the Waqf institutions organized by the State Islamic Religious Councils (SIRCs) by applying the Data Envelopment Analysis (DEA). In Malaysia, the SIRCs are responsible to manage Waqf assets entrusted to them. As of recent, there are quite a number of studies looking into the performance of the SIRCs in managing the Waqf. Therefore, there are three types of DEA model applied in this study; technical efficiency (TE), pure technical efficiency (PTE) and scale efficiency (SE). The data consists of 13 Waqf Institutions for the period of 2007 to 2013. The results of this study suggest that only 1 of the Waqf institutions is fully efficient and the other 12 institutions are inefficient when the analysis is done on a full sample of the 13 SIRCs. Further analysis on the technical efficiency components also reveals that inefficiency of the Waqf Institutions is mainly caused by managerial inefficiency rather than scale inefficiency.
Journal of Islamic Monetary Economics and Finance, Mar 26, 2021
The COVID-19 pandemic has heavily impacted micro-entrepreneurs worldwide. Although incentives and... more The COVID-19 pandemic has heavily impacted micro-entrepreneurs worldwide. Although incentives and assistance funds have been provided by the government, these might only last for three months. The funds can be accessed through Islamic Social Finance (ISF) tools (Zakat, Waqf, Baytulmal, Ar-rahnu). Although ISF mitigates risks by providing fund assistance to micro-entrepreneurs, it is essential to know how far the assistance can support them and help them survive in their business. Therefore, this study intends to investigate the significance of Islamic social finance in stabilising micro-entrepreneurs' income during the COVID-19 pandemic, using the Partial Least Squares-Structural Equation Modeling (PLS-SEM) method. A survey consisting of 200 questionnaires was distributed to micro-entrepreneurs in three states in Malaysia between June and August 2020. The findings show that ISF has played an essential role in stabilising income among micro-entrepreneurs during the COVID-19 pandemic. Overall, zakat has the most robust, positive relationship with financial stability. This means that it is an essential tool being used by micro-entrepreneurs to stabilise their income during COVID-19.
Journal of Multinational Financial Management, Dec 1, 2020
This study aims to examine the effect of corruption, national culture, and rule of law on the div... more This study aims to examine the effect of corruption, national culture, and rule of law on the dividend repatriation policy of foreign subsidiaries of US multinational corporations (MNCs) in 51 countries. The findings reveal that foreign subsidiaries of US MNCs repatriate lower dividends from host countries that have a higher rate of corruption. Additionally, findings suggest that foreign subsidiaries of US MNCs repatriate higher dividends from individualistic countries. Further, weak legal protection in the host country leads to higher dividend repatriation. Moreover, given an effective legal system in a host country, foreign subsidiaries of US MNCs with higher growth opportunities repatriate lower dividends. Finally, this study finds that foreign subsidiaries of US MNCs functioning in countries with a higher rate of corruption, individualistic culture, and the strict rule of law adjust faster towards optimal dividend repatriation policy. The findings are robust to alternative estimation methods and measures.
Journal of Central Banking Theory and Practice, Jul 1, 2020
This study aims to examine the effect of exchange rate fluctuations and credit supply on the divi... more This study aims to examine the effect of exchange rate fluctuations and credit supply on the dividend repatriation policy of foreign subsidiaries of U.S. multinational corporations (MNCs) around the world. The difference generalised method of moments (GMM) estimator was applied to estimate the dynamic dividend repatriation model. The results suggest that the appreciation of host-country currency against the USD leads to higher dividend repatriation by the foreign subsidiaries of U.S. MNCs. Moreover, results reveal that higher availability of private credit in the host country results in lower dividend repatriation by the U.S. MNCs' foreign subsidiaries.
The International journal of banking and finance, Jul 31, 2020
This paper examines the relationship between board education, board size, growth, ownership and f... more This paper examines the relationship between board education, board size, growth, ownership and firm performance of family CEO and nonfamily CEO listed firms in Malaysia. A sample of 37 firms and data were collected over a period of five years from 2012 to 2016. The 37 samples of family firms were subdivided into family CEO (21), and non-family CEO (16) firms. The independent variables were board education as measured by the proportion of board degrees (BDEG) and the proportion of board professional qualifications (BPRO), board size (BSIZE), growth, and ownership. Meanwhile, firm performance was measured by using return on equity (ROE) and return on assets (ROA). The findings showed that there was a significant difference
Waqf efficiency and its transformative technology in improving the waqf system in Malaysia
Routledge eBooks, Dec 8, 2021
Sustainability
ESG ratings are closely linked to corporate resource allocation and overarching macroeconomic con... more ESG ratings are closely linked to corporate resource allocation and overarching macroeconomic constituents. Nevertheless, there is a noticeable lack in the literature investigating the interconnected relationship between the growth of local government debt, corporate underinvestment, and ESG ratings. This study aims to investigate the impact of local government debt on corporate underinvestment and its subsequent effects on corporate ESG performance. To achieve this goal, this study utilizes special bond data from Chinese provinces spanning the period between 2015 and 2021. The findings suggest that as local government debt swells, it imposes financing constraints on local companies, leading to underinvestment, particularly for listed companies with a high proportion of fixed assets and non-state-owned enterprises. A key effect is a “crowding-out effect” in which local government debt absorbs resources that could otherwise be allocated to private corporations and non-investment sect...
Factors Affecting the Adoption of Mobile Payment System Among Millennials and Generation X in Malaysia
Journal of Economics and Trade
This study investigates factors affecting the adoption of mobile payment systems among Millennial... more This study investigates factors affecting the adoption of mobile payment systems among Millennials and Generation X in Malaysia by applying the Theory of Reasoned Action (TRA), the Theory of Planned Behaviour (TPB), the Technology Acceptance Model (TAM), and the Unified Theory of Acceptance and Use of Technology (UTAUT). The online questionnaire was conducted to collect data from 103 respondents. By using the regression analysis, the findings show that effort expectation and social influence are significant to adopting a mobile payment system among Millennials and Generation X in Malaysia. In contrast, performance expectations, perceived risk, and perceived cost are insignificant. The study has improved the understanding of Millennial and Generation X’s perception on mobile payment systems in Malaysia. Some recommendation to enhance the usage of mobile payment system among the Millennials and Generation X in Malaysia is provided at the end of the study.
Business Management and Strategy
Purpose – This study investigates the impact of the five main determinants of strengthening the I... more Purpose – This study investigates the impact of the five main determinants of strengthening the Integrated Business Model – Technology (IBM-T) practices of the top 100 Malaysian Public Listed Companies (PLCs) through the Integrated Business Model – Technology components, moderated by the presence of the Women Board of Directors, Independent Board of Directors, and the Integrated Reporting 8 Content Elements study across the top 100 Malaysian PLCs.Design/methodology/approach – The methodology employed includes the purposive sampling method followed by descriptive statistics, content analysis, frequency of disclosures trend analysis and the One-Way ANOVA analysis derived from the Malaysian Code of Corporate Governance 2012 (MCCG 2012) and the Malaysian Code of Corporate Governance 2017 (MCCG 2017) together with previous studies of the analysis of the annual reports and integrated reports in order to explore the reporting of the Integrated Business Model - Technology, Women Board of Di...
Business Management and Strategy
Purpose – This research examines the effects of the five primary factors that determine the top 1... more Purpose – This research examines the effects of the five primary factors that determine the top 100 Malaysian Public Listed Companies (PLCs) adoption of the Integrated Business Model - Technology (IBM-T), influenced by the presence of the Women on the Board of Directors, Independent Board members, and the Integrated Reporting 8 Content Elements initiatives.Design/methodology/approach – In order to explore the reporting of the IBM-T, the study have used the selective sampling method, means and standard deviation, document analysis, regularity of voluntary disclosure trend analysis, and the Paired-Sample T-Test derived from the MCCG 2012 and the MCCG 2017, as well as past research of the examination of the annual reports and integrated reports.Originality/value – In this paper, new research advancements in the areas of integrated reporting, business models, MCCG 2012, and MCCG 2017 are systematically reviewed. Other PLCs than Malaysian PLCs might use the ranking indices for the Integra...
Mathematical Problems in Engineering
The data of new urban investment bonds in cities from 2011 to 2021 to represent the growth of loc... more The data of new urban investment bonds in cities from 2011 to 2021 to represent the growth of local government debt is used in this article. This paper studies the relationship between the increase of local government debt and the underinvestment of A-share listed enterprises, which are nonfinancial companies in China. The research finds that the increase in local government debt will crowd out the debt financing of enterprises and then significantly the degree of underinvestment of enterprises, which is represented non-state-owned enterprises, enterprises with high financing constraints, and enterprises with nonlocal debt invested in the industry. As for listed enterprises with relatively low fixed assets, the increase in local debt will further lead to the degree of underinvestment. The above conclusions remain unchanged after a series of robustness tests in this paper. Further research shows that the increase in local government debt will weaken the stimulus effect of loose monet...
This study aims to identify four determinants that influencing students’ intention to invest into... more This study aims to identify four determinants that influencing students’ intention to invest into Shariahbased Private Retirement Scheme (PRS) in Malaysia among public university students. The purpose of this study is to identify the relationship between determinant namely attitude, social influence, religious obligation, and government support on intention to invest into Shariah-based PRS. The sample comprised of 370 students who were taking business courses in their programme. By using survey as a method to collect the data, the study found that all four determinants have significant influence on the awareness to invest in Shariah-based PRS. In addition, these findings will enhance the students’ awareness, knowledge and understanding of the importance of having a good financial planning for their retirement once they start their career
This study is conducted to identify the demographic factors that influencing the awareness of Sha... more This study is conducted to identify the demographic factors that influencing the awareness of Shariah-based Private Retirement Scheme (PRS) among undergraduate and postgraduate business students in higher learning institution in Malaysia. The purpose of this study is to identify the significant differences between determinant factors namely gender, age, religion, student’s level of education and background of education on the awareness of Shariah-based PRS. A total number 380 respondents among public university students are selected as respondents of a survey which are randomly distributed. The data is analysed using T-test and One-way ANOVA. The finding shows that demographic factors consist of gender, age, religion, education level, and background of study are significantly different towards awareness of Shariah-based PRS. This study will create more awareness not only for fresh graduates but also employees to start having a retirement plan if they do not have any yet.
Foreign earnings repatriation: the effect of exchange rate volatility and the risk of expropriation
Journal of Economic and Administrative Sciences
PurposeThis study aims to investigate the impact of exchange rate volatility and the risk of expr... more PurposeThis study aims to investigate the impact of exchange rate volatility and the risk of expropriation on the decision to repatriate foreign earnings.Design/methodology/approachThe current study uses secondary data for foreign subsidiaries of US multinational corporations (MNCs) in 40 countries from 2004 to 2016. We use the dynamic panel difference generalised method of moments (GMM) to estimate the dynamic earnings repatriation model.FindingsThe findings show that foreign subsidiaries of US MNCs in countries with volatile exchange rates tend to repatriate more earnings to the parent company. The findings also reveal that a greater risk of expropriation in the host country leads to the higher repatriation of foreign earnings to the parent company. The findings support the notion that MNCs use the earnings repatriation policy as a means of mitigating risks arising in the host country.Practical implicationsPractical implications for modern managers include shedding light on how fi...
Linking investment opportunities, credit market development and dividend repatriation policy
Transnational Corporations Review
E-HRM provides the HR function with the opportunity to create new avenues for contributing to org... more E-HRM provides the HR function with the opportunity to create new avenues for contributing to organizational effectiveness. The topic of E-HRM is certainly not becoming obsolete, and its full potential is still anticipated and therefore academic involvement in the topic needs to grow. Besides, there has been a great deal of research on Technology Acceptance Model (TAM) in Malaysia. Less attention is given to examine the relationship between HR roles (strategic partner, change agent, employee champion, and administrative expert) and E-HRM by adoption of TAM. This paper intended to contribute to the Malaysian literature pertaining to this subject. Based on a review of extant literature on E-HRM, HR roles, and TAM, a model is presented and propositions outlined for future empirical testing.
International Journal of Banking and Finance
This paper examines the relationship between board education, board size, growth, ownership and f... more This paper examines the relationship between board education, board size, growth, ownership and firm performance of family CEO and nonfamily CEO listed firms in Malaysia. A sample of 37 firms and data were collected over a period of five years from 2012 to 2016. The 37 samples of family firms were subdivided into family CEO (21), and non-family CEO (16) firms. The independent variables were board education as measured by the proportion of board degrees (BDEG) and the proportion of board professional qualifications (BPRO), board size (BSIZE), growth, and ownership. Meanwhile, firm performance was measured by using return on equity (ROE) and return on assets (ROA). The findings showed that there was a significant difference between family CEO and non-family CEO firms at a five percent level for board professional qualifications confirming that altruism and nepotism were observed among family members which supported the argument of characteristics of nepotism such as granting jobs to f...
Corporate Governance of Banks in Asia Emerging Market: A Study on Independent Audit Committee and Liquidity
Global Business and Management Research: An International Journal, 2018
Sources of Inefficiency of the Waqf Institutions in Malaysia
The purpose of this study is to assess the efficiency of the Waqf institutions organized by the S... more The purpose of this study is to assess the efficiency of the Waqf institutions organized by the State Islamic Religious Councils (SIRCs) by applying the Data Envelopment Analysis (DEA). In Malaysia, the SIRCs are responsible to manage Waqf assets entrusted to them. As of recent, there are quite a number of studies looking into the performance of the SIRCs in managing the Waqf. Therefore, there are three types of DEA model applied in this study; technical efficiency (TE), pure technical efficiency (PTE) and scale efficiency (SE). The data consists of 13 Waqf Institutions for the period of 2007 to 2013. The results of this study suggest that only 1 of the Waqf institutions is fully efficient and the other 12 institutions are inefficient when the analysis is done on a full sample of the 13 SIRCs. Further analysis on the technical efficiency components also reveals that inefficiency of the Waqf Institutions is mainly caused by managerial inefficiency rather than scale inefficiency.
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Papers by Haslindar Ibrahim