Anwar Allah Pitchay

Culture, corporate governance and analysts forecast in Malaysia

Purpose - – The purpose of this paper is to examine the relationship between Bumiputra (in reference to Malay indigenous race) directors, a proxy for culture and analysts forecast. In addition, the study investigates whether corporate governance affects that relationship. Design/methodology/approach - – The sample of this study is based on 664 firm-year observations from 193 firms during the 1999-2009 periods. The authors employ a panel least square regression with both period and industry fixed effects. The authors retrieved of analyst data from the Institutional Broker Estimate System (I/B/E/S) database while the authors hand collected the corporate governance variables. The remaining data were collected from Compustat Global. Findings - – The authors find a positive relationship between the proxy of culture, Bumiputra directors and analysts forecast error suggesting that cultural values influences the level of information in the Malaysian capital market. Research limitations/implications - – The research is dependent on the data availability from I/B/E/S database. Originality/value - – The authors extend the work of Haniffa and Cooke (2002) in investigating how cultural values influence the capital market. In addition, this is the first study that investigates culture values and the analysts forecast.

Workplace Spirituality Enhance Organisational Commitment in the School Management

The existing literature suggested that in the profitable organizations, workplace spirituality made a remarkable impact. The purpose of this study is to explore the existence of workplace spirituality in the non-profitable organization focus in school and the second purpose of the study is to see the role of workplace spirituality to enhance the organizational commitment among teachers. A sample 988 teachers from 87 public school in Malaysia took part in a survey. The data of this quantitative research was analyzed statistically. The result indicates that the level of workplace spirituality is high. Meanwhile for the for the hypotheses testing, all the dimensions of workplace spirituality is the predictor of affective and normative commitment. This shows that workplace spirituality influence the emotion of the teachers that encourage teachers to work beyond expectation. The implication of the shows that workplace spirituality is seen in a non-profitable organization and its? function can boost organization commitment. The practical implication is that school administrator should consider the dimensions of workplace spirituality like meaningful at work, sense of community and alignment of organizational values at the tool for improving teachers? attitude and commitment.

Determinants Of Islamic Banks’ Margins In Asian Countries

This paper examines the determinants of margins in Islamic banks for the period 2005‐2013. Specifically, we apply pooled, static and dynamic panel regressions on 76 Islamic banks in Asian countries. The results suggest the main factors that influence the margins of Islamic banks are numerous including bank size, default risk, overhead cost, capitalization, market concentration, GDP growth and inflation. It is evident that enhancing macroeconomic policies, risk management capabilities and operational efficiency could help in lowering the margins.

Interest rate risk management and Islamic Banking: Evidence from Malaysia

The fluctuation of interest rate in the market has let the Islamic banks becoming more cautious and taking a step ahead in managing good risk management practices. This is an important element when a country adapts a dual banking system. The interest rate is obviously prohibited in Islam; however, it does not mean that the Islamic banks will not encounter any risk due to the interest rate fluctuation in the market. This is due to the nature of the Islamic banking balance sheet where it is fixed on asset side whereas in the conventional banking it looks more flexible to the asset, thus putting the Islamic banks unable to react expeditiously to the fluctuation in market interest rate which later leads to greater exposure to the rate of return risk. Therefore, the present study aims to investigate the effect of the interest rate risk towards the portfolios of the Islamic banks operating in the Malaysia. The quantitative result reveals that the majority of the Islamic banks are exposed to the interest rate risk and it is explained by the financial and economic variables. This study is expected to add value to the existing literature in risk management by proposing policy recommendations and methodological innovation.

Priority of Waqf Development among Malaysian Cash Waqf Donors: An AHP Approach

The practise of cash Waqf is increasingly gaining popularity among the Malaysian Muslim. Waqf institutions (SIRCs) are responsible to utilise the collection of cash Waqf to develop relevant projects in order to benefit the society in general. The purpose of this study is to explore the cash Waqf donors’ priority toward what types of development that fulfilled the current need of the society. Hence, to accomplish this purpose; thirty (30) Muslim employees who have contributed cash Waqf were interviewed. This study employs analytical hierarchy process (AHP) analysis to identify the rank of the developments that priorities by donors. The result shows that the cash Waqf contributors prefer to channel their money for Waqf development in the following rank order: (1) education, (2) health, (3) masjid and madrasah, (4) social-care and welfare (5) trade and commerce (6) environment (7) infrastructure and (8) art, culture and heritage.