Badrul Hisham Kamaruddin

DEA portfolio selection in Malaysian stock market

The purpose of this paper is to investigate the effectiveness of data envelopment analysis (DEA) model on portfolio selection for investors over long horizon in the Malaysian stock market. This paper employs the technical efficiency DEA model to evaluate the firms efficiency. Then, the efficient firms are selected for the portfolio formation. The scope of this paper incorporates all companies of the property sectors of Bursa Malaysia from 2004 through 2005. The results demonstrate that the Technical Efficiency Portfolio seems to produce significant cumulative abnormal returns over the 36-months holding period. In a nutshell, the empirical findings suggest that the DEA models effectively can be used as a tool in helping investors for their portfolio selection over long-term in Malaysian stock market.

Malay Owner Managers of SMEs: The Typology

Abstract This study identifies the different classification of Malay owner managers based on the psychological and behavioral factors. The survey comprised sample of 162 small scale SMEs’ owners in manufacturing industry, in Malaysia. Rasch Measurement Model was employed for that purpose. The findings indicated that psychological (personal values and self efficacy motivation) and behavioral (entrepreneurial orientations) factors were able to differentiate owner managers into five classification; Exemplar, Competence, Mediocre, Survivor and Poor. The interesting findings serve as a reminder to the Malaysian government to focus on both the psychological and behavioral aspects of owner managers in an effort to improve Malay SMEs businesses.