Published Scholarly Output

This study aims to incorporate the role of domestic financial system in transferring the technological diffusion embodied in FDI inflows on the Malaysian economy from 1970–2001. Applying bound test, or unrestricted error correction model (UECM) proposed by Pesaran et al. (2001), the presence of FDI inflows creates a positive technological diffusion in both short- and long-run if the evolution of domestic financial system has achieved a certain minimum level. This implies that the improvement of technology level in Malaysia in the long run is due to the spillover efficiency effects from FDI. Hence, the study suggests that FDI tends to be more likely to enhance economic growth more efficiently when a recipient country has a well-developed and well-functioning financial sector.

Purpose Under the fixed exchange rate regime Fiji's currency, which is pegged to a basket of currencies of its major trading partners, has been experiencing severe pressures. The purpose of this paper is to study annual exchange market pressure (EMP) over a 31‐year (1975‐2005) period and attempt to determine the factors behind EMP. Design/methodology/approach The paper employs the autoregressive distributed lag (ARDL) bounds testing procedure, which is applied to a multivariate model covering four variables, namely EMP in index numbers, and budget deficit, domestic credit to private sector and external debt, all the three expressed as percentages of gross domestic product. Additionally, an uncertainty variable is added to the regression analysis with a view to finding out whether political uncertainty has been responsible for speculative attacks on currency. Existence of a cointegration vector is then investigated. It is then followed by Granger‐causality tests in an error‐correction model with view to exploring the short‐ and long‐term relationships between the variables. Findings The study findings are: there existed a long‐run relationship between EMP and budget deficit, domestic credit to private sector, external debt and political uncertainty; and EMP was positively related to budget deficit, domestic credit to private sector and external debt as well as speculative pressures exercised by political uncertainty. Originality/value The empirical study on EMP in the South Pacific Island countries and in Fiji in particular is the first of its kind. The paper is expected to promote further interest in the studies of currencies of small island countries.

Total factor productivity growth of the five ASEAN founding members is estimated by decomposing total factor productivity growth into technical efficiency and technological progress. By using the stochastic frontier model with individual‐specific temporal pattern of technical efficiency for the period of 1981–2003, the present paper identifies the unique temporal pattern of productivity changes in each country, to analyze the relationship between country characteristics and the inherent efficiency and productivity changes. The empirical results indicate that over the study period, growth in Singapore and Malaysia was largely driven by both technological progress and input accumulation, whereas growth in Thailand was induced by an improvement in technical efficiency and through input accumulation.

This paper evaluates on the performance of the inflation-targeting regime in three emerging East-Asian economies that have experienced changes in monetary policy regimes, from rigidities to a flexible exchange rate and inflation targeting, after the financial crisis of 1997-98. In particular, the evaluation focuses on the inter-relationship between inflation and the output growth/gap in these emerging economies between the pre- and post-inflation targeting periods. A bivariate GARCH (1,1) model is applied. The results reveal lower variability in inflation and output growth after the implementation of the inflation targeting regime. The persistency of inflation and output also decline. The study finds no evidence of greater disinflation cost experienced in these economies after the implementation of the inflation-targeting regime. Overall, the results imply that inflation targeting works well in these emerging markets.

PurposeThe purpose of this paper is to examine specifically the impacts of transformational leadership on job‐related learning at the individual level.Design/methodology/approachA questionnaire survey was conducted. The survey questionnaire contained measurements of job‐related learning (JRL) and the five dimensions of transformational leadership: idealized influence attributed (IIA), idealized influence behavior (IIB), individualized consideration (CON), inspirational motivation (INSPIRE), intellectual stimulation (INTSTIM). Data were collected from 400 individuals of various organizations on a voluntary and anonymous basis.FindingsThe research results showed that the dimensions of IIB and CON were two significant predictors to job‐related learning.Research limitations/implicationsAll of the data collected in the present study are gathered from a single source through a common method (i.e. a Likert‐scale questionnaire). Also, the use of a cross‐sectional design in the present study restricts inferences being drawn regarding the causal relationships between transformational leadership and job‐related learning.Practical implicationsIt seems that leaders are able to enhance job‐related learning among the employees when they recognize the growth needs of their followers and provide them with personal guidance and goal‐directed development. The findings imply that if a high learning orientation in an organisation is desired, transformational leadership would be the type of leadership needed in the organization.Originality/valueThe present study does provide some evidence that some dimensions of transformational leadership are more influential on job‐related learning than the others.

Purpose The purpose of this paper is to examine the long‐term post‐acquisition share performance of Malaysian acquiring firms over the period 2000‐2004. Design/methodology/approach The authors use the event‐type methodology to analyse acquirer returns in relation to target status, method of payment and other firm characteristics, using both univariate and multivariate analyses. In total three performance measures are used to identify the long‐term share performance of acquiring firms: cumulative market‐adjusted abnormal returns, the buy‐and‐hold market‐adjusted and buy‐and‐hold matched‐sample abnormal returns. Findings The results show the existence of negative abnormal returns to acquirers over two‐ and three‐year periods after acquisition. The study also finds that acquirers of private targets earn negative returns, while acquirers of public targets earn insignificant returns. It is also found that under‐performance is limited to the small size acquirers and to large relative‐size acquisitions. Furthermore, the results indicate that acquirer's long‐term performance is not related to the method of payment and book‐to‐market ratio of the acquirer. Originality/value The Malaysian stock market is relatively small compared to the US and UK markets where most previous research has been carried out. The current study allows us to assess the robustness of the models and whether the findings in developed markets may be generalized to the smaller developing markets. This paper contributes to the present body of knowledge by offering evidence of acquirer's post‐acquisition performance from a developing market.

The objectives of this research are to identify the factors influence the green purchase intention and to determine the relationships between the factors (determinants) and green purchase intention among Malaysian consumers. A descriptive research was conducted to address the research objectives. The survey research was undertaken among the Malaysians who are members of one of the Activist Groups in which is a Non-government Organization (NGO) in Malaysia. The adopted sampling method was simple random sampling. There were 230 usable questionnaires which were analyzed with the Statistical Package for Social Science Software version 19. Five hypotheses were developed for this research and all hypotheses were tested using Pearson Correlation Analysis and Multiple Regression Analysis. The results of the study indicated that government initiative has the most significant influence on green purchase intention among Malaysian consumers. In contrast, eco-label failed to show significant relationship to green purchase intention. The finding of insignificant impact of eco-label on the green purchase intention from this study is in contrast with the finding from Nik Abdul Rashid (2009) because both studies were carried out among Malaysian consumers.