Home Volume 7, No. 3, Oct. 2017

 

1. Deals Characteristics and Short-Term Stock Price Performance of Malaysian Acquirers
Norhamiza Ishak, Kamarun Nisham Taufil Mohd and Hanita Kadir Shahar

ABSTRACT
This paper aims to examine the effect of deals characteristics (types of target and method of payment) on the short-term common stock returns of acquirers in acquisitions. The sample composes of acquisitions during the period from 2000 to 2013. The study finds that cash-financed acquisitions create positively significant returns to the wealth of shareholders’ of bidders. Meanwhile, types of target neither create nor destroy short-term value to the bidding firms. The indifferent result for types of targets shows that shareholders of acquiring companies do not react regardless if the target are from public or private companies.


Keywords:Acquisition, method of payment, short-term price performance, types of target
PDF [227-236]

2. Negative Moderating Effect of Social Intelligence on the Relationship between Entrepreneurial Talent and Sustainable Performance among Technology-based SMEs in Malaysia
Dayang Hasliza Muhd Yusuf, Mohd Salleh Hj Din and Muhammad Shahar Jusoh

ABSTRACT

This study demonstrates the negative effect of social intelligence on the relationship between entrepreneurial talent and sustainable performance. The entrepreneurial talent refers to the ability to carry out entrepreneurial activities. The negative moderating effect of social intelligence explains the importance of having work experience as a manner to develop necessary skills prior to starting up a new business. This study uses data from 91 entrepreneurs in technologybased SMEs in Malaysia and employs structured equation modelling analysis. The results set a boundary condition to the generally presumed relationship between entrepreneurial talent and sustainable performance of SMEs, thereby improving the understanding of how these phenomena are related.


Keywords: entrepreneurial talent, social intelligence, sustainable performance, technology-based SMEs 
PDF [237-250]

3. Factors Leading to Market Segmentation of Fashion House Business based on Customer Behavior: Evidence from Bangladeshi Fashion Industry
Md. Al Amin and Mohammad Shariful Islam

ABSTRACT
The key objective of this paper is to find out factors affecting market segmentation of fashion house business in Bangladesh based on customer behaviour. For the purpose of the study, a judgment sampling of 200 customers from the entire populations has been targeted. Data collected in randomly through using five-point Likert scale (1=strongly disagree, 5= strongly agree) questionnaires. The hypothesis has been developed on the correlation between variables and a total of 14 variables are considered for the study. After analysis of data, it has been revealed that there are two types
of customer segments a) low fashionable customers (LFC) and b) high fashionable customers (HFC). The study depicts that, in the case of low fashionable customers, the marketer pay attention to prices, return facilities, online shopping, friendly employees, well decoration and hassle free environment whereas in the case of high fashionable customers marketers pay attention to brand image, quality of clothes, credit cards, customized fashionable clothes, modern and stylish clothes. The study is a part of Segmentation-Targeting-Positioning (STP) analysis where KMO and Bartlett's Test were used to determine the appropriateness of data for factor analysis. The rotation matrix used for extracting the number of leading factors from 14 variables and their relationship and the residuals used to the model fit. The study concluded with the statement that, fashion product marketers must need relevant and adequate concentration on customer behaviour while making product marketing strategy.

Keywords:Segmentation, perception, fashion house, factor analysis, customers, STP, Bangladesh.
PDF [251-272]

4. Sustainable Poverty Alleviation through Integration of Waqf and Microfinance: A Case Study of Sokoto State, Nigeria
Abu Bakar Yusuf Sanyinna, Muhammad Farihal Osman and Hydzulkifli Hashim Omar

ABSTRACT
This is an exploratory research aimed at unveiling many myths surrounding the prevalence of poverty in the Nigerian State of Sokoto. This study attempts to disclose the failure of previous conventional poverty-alleviation programs and suggests ways of resuscitating waqf institution in order to achieve sustainable poverty alleviation in the state. Case Study Approach of Qualitative Research Method was adopted in this research and data was collected through relevant literature survey, face-to-face interview, observation and archival studies. Descriptive technique was used for data analysis findings indicate that poverty in Sokoto State remains resistant to all successive conventional measures of its alleviation. The potentials of waqf are found not adequately harnessed for sustainable poverty alleviation. Thus, there is a need for re-focusing the
activities of waqf institution towards achieving the ultimate goal. Waqf-based microfinance evidently proved to be an effective way of alleviating poverty which can be achieved by financing MSMEs and enhancing earning potentials of the poor. Weak management of waqf properties amounts to waste of hard-earned resources. While prevalence of poverty culminates in the rising rate of ignorance, unemployment, hunger, diseases and social vices. All stakeholders in the phenomenon; arms of government, the rich, scholars and the general public, should be live up to their respective responsibilities. Unlike zakah that has confinements and limitations, waqf has an openended pooling system that can squarely tackle the problem of poverty if professionally managed.

Keywords: microfinance, micro-small-and-medium enterprises (MSMEs), Nigeria, poverty alleviation, Sokoto, waqf.
PDF [273-306]

5. Corporate Social Performance Determinants: A Study of Marketing Petroleum and Food and Beverages Industry in Nigeria
Muhammad Shaheer Nuhu and Sani Salisu

ABSTRACT
A corporation operating within any societal environment should have mutual and positive relationship with the society. This relationship can be achieved and maintained in the long run if the company discharge its social responsibility adequately as a positive gesture in the exchange of societal resources utilized, nuisance created or damages caused. This study examined the effect between profitability, firm size, corporate tax (CT) and Corporate Social Performance (CSP) focusing on the Nigerian marketing petroleum and food and beverages sector. The population of this study comprises of marketing petroleum and food and beverages companies that are listed in the Nigerian Stock Exchange (NSE). Data were collected from the annual report and accounts of the selected companies for a period of ten years (2006- 2015). Using the profit before tax and interest, tax paid and the annual turnover as proxies for profitability, corporate tax and firm size respectively. This study also employed Structural Equation Modelling (SEM) for data analysis. The results revealed a significant positive effect between profitability, corporate tax and CSP. The result of the study shows a significant negative effect between firm size and CSP. Recommendations made include the need for Nigerian government, organisation, environmentalist, accountants, economists, and expert in business management to collaborate in educating and sensitize the investing public and corporate bodies to consider CSP as one of the important guidance factor for investment decision.

Keywords: Corporate Tax, corporate social performance, Firm size, Profitability
PDF [307-324]

 6 Will Services be the New Engine of Economic Growth in Bangladesh?
Mohammad Zahedul Alam and S M Sohel Rana

ABSTRACT
At present, development of a vibrant and competitive services sector is a key characteristic of modern economies in the world. In the developing world, services frequently account for two-thirds or three-quarters of all economic activity. The transition from agriculture through manufacturing to a service based economy has been the hallmark of economic development for many countries at present. In line with this trend, many emerging markets currently working hard to support and develop services industries and to put in place the regulatory structures required for more integrated international services markets. At present, the economy of Bangladesh is dominated by the services industry which contributes a significant portion to the Gross Domestic Product (GDP). This study focuses on sectoral contribution of services sector to the economy in comparison to other sectors and recognizes the services sector as a new engine of economic growth and development of Bangladesh economy. 300 services beneficiaries and 60 officials from different services firms have been exposed to collect the data regarding the services sector. It has been found that the economy of Bangladesh is shifting towards the services economy. Most of the investors are investing in services sector to generate more profit. So, it is essential to examine the role of services sector in Bangladesh Economy.


Keywords:  Bangladesh, economic growth, services, service economy, services marketing, etc.
PDF [325-342]
 7 Towards Achieving the Success in Communication Campaign: A Study on Marks and Spencer
Md. Masrurul Mowla, Nazamul Hoque and Mohammad Zahid Hossain Bhuiyan

ABSTRACT
Marks and Spencer (M&S) suffered from losing its customers’ trust and confidence which substantiated significant decline in sales since the beginning of this century, especially in 2004. But M&S developed a new marketing communications strategy following the McQuail’s communication approaches that touched customer’s heart and eventually M&S regained previous image and crowned with the top honor at the Institute of Practitioners in Advertising's annual effectiveness award. This study discusses how McQuail’s communication approaches have been used in the M&S’s communication campaign for which it regained its customers’ trust. It is expected that business firms of the world will get directions and guidelines in designing their communication message and thereby regaining and retaining the customers’ loyalty and trust.

 

Keywords: Communication, customers’ trust, message.

PDF [343-354]

 8 Sustainability Paradigm for Malaysian Manufacturing SMEs: An Operations Research Approach
Man Djun Lee, Rahmat Aidil Djubair and Heng Jong Ngu

ABSTRACT
Small and Medium Enterprises (SMEs) are the driving force for Malaysian economy. They provide employment, stimulate local economy and participate in the supply chain for large companies. However, limited studies were found for SMEs to achieve sustainability in operations perspective. On the other hand, the concept of sustainability is considered new for most Malaysia manufacturing SMEs. On this note, the research question for this study is “what model is useful for Malaysian manufacturing SMEs to measure their sustainability based on current production performance?”. The novelty is that this study provides a practical starting point towards the development of sustainable manufacturing SMEs by incorporating production performance. The methodologies used in this work are extensive literature review, conceptual model building and mathematical model building. Findings from this study suggest that underutilized capacity or wastage of inputs creates gap in productivity and appears as non-value added input to production process which reduces degree of sustainability in manufacturing SMEs. This gap contributes to the reduction in production performance, increase the production cost and introduces adverse impact on economy and environment. It is imperative for the manufacturing SMEs to eliminate this waste to achieve sustainability. However, the research area on SMEs waste reduction remains under explored. The findings of this study would serve as guideline for Malaysian SMEs managers to formulate effective approach to achieve sustainability. In this aspect, this work is original as developed from fundamental manufacturing concepts. The model is useful for relevant stakeholders to eliminate the non-value added inputs. This paper will add new information in the manufacturing SMEs knowledge domain. Furthermore, this paper will would serve as basis for future research in sustainable manufacturing SMEs.

 

Keywords: Manufacturing, production performance, SMEs, sustainability, waste reduction.

PDF [355-368]

9

A Study of Factors Affecting Consumer Buying Behaviour in Online Shopping (Case Study: Digikala Online Store)

Hadi Bastam, Vahideh Tabasi Lotfabadi, Vahidreza Kouchakzadeh and Mozhgan Faraji

 

ABSTRACT This study was conducted with the aim to investigate determinants of consumer buying behaviour in Digikala Online Store. This research was applied in terms of objective, and descriptive-correlational according to data collection method. The statistical population of this study consist of 200 consumers in Digikala Online Store, and they were selected by simple random sampling method according to Cochran's formula for infinite population. A valid questionnaire was used to collect data; and its reliability was confirmed by Cronbach's alpha. Structural Equation Modelling (SEM) was used to analyse data and examine hypotheses. Statistical SPSS and AMOS software was used as the data analysis tool. Findings indicated that all research hypotheses were confirmed, and this study concluded that factors such as user interface quality, product information quality, variety of choices, security perception, and saving money in online shopping could have positive effects on consumer attitude and encourage consumers to purchase.

 

Keywords: Buying behaviour, consumer, online store.

PDF [369-384]

10

Determinants of Agricultural Cooperative Performance Using Financial Ratio

Zelhuda Shamsuddin, Abdul Ghafar Ismail, Suraya Mahmood, Md Faruk Abdullah

 

ABSTRACT The main aim of this study is to examine the financial performance of agricultural cooperatives in Malaysia during the period of 2010-2014 using financial ratio (i.e. liquidity, leverage and asset efficiency). Based on the panel data model approach, the results of the study showed that liquidity, asset efficiency, dividend and cooperative size have significant relationship to financial performance of agricultural cooperatives. The outcome of this study would provide some insights to regulators, cooperative managements, and cooperative members towards designing and implementing future strategies to enhance cooperative performance.

 

Keywords: Cooperative, financial performance, Malaysia, ratio analysis.

PDF [385-396]