Papers by Noor Azuddin Yakob
Malaysian Journal of Social Sciences and Humanities (MJSSH)
Pendidikan keusahawanan telah diperkenalkan sejak dulu lagi di institusi pendidikan bagi melahirk... more Pendidikan keusahawanan telah diperkenalkan sejak dulu lagi di institusi pendidikan bagi melahirkan graduan yang mempunyai pemikiran keusahawanan. Silibus dan kandungan di dalam kursus akademik keusahawanan perlu sentiasa relevan mengikut arus semasa. Justeru itu, kajian ini dilakukan bagi mengenal pasti persepsi pelajar prasiswazah terhadap kursus akademik keusahawanan yang ditawarkan di Universiti Kebangsaan Malaysia (UKM). Seramai 115 orang pelajar prasiswazah yang terlibat dalam kajian ini. Dapatan kajian mendapati persepsi pelajar terhadap kursus tersebut adalah tinggi. Tambahan lagi, analisis korelasi Spearman Rho menunjukkan terdapat hubungan signifikan antara persepsi dengan niat keusahawanan manakala latar belakang keluarga pelajar mempengaruhi niat menjadi usahawan. Namun begitu, tiada perbezaan signifikan niat keusahawanan antara pelajar lelaki dan perempuan.
International Journal of Public Sector Performance Management
Economies
The board of directors’ role is paramount in businesses because it reflects the organisation’s ab... more The board of directors’ role is paramount in businesses because it reflects the organisation’s ability to earn investor confidence and improve financial performance. This paper aims to examine the relationship between environmental and social (ES) information disclosure and firm financial performance and the interaction effects of board meetings on the relationship between ES and firm performance in Malaysian publicly traded firms from 2013 to 2017. This article contributes to the theoretical foundations of the agency theory as it relates to the corporate governance function. The agency theory framework is used to capture the inherent interrelationships between the board of directors and firm performance. The study’s findings indicate that a firm’s relationship between ES and financial performance, measured by Tobin Q and return on equity, may be significantly affected by board meetings.
International Journal of Engineering & Technology
Information disclosure is crucial in the financial market that allow investors to understand the ... more Information disclosure is crucial in the financial market that allow investors to understand the current and future performance of companies and help them in their investment decisions. This paper aim to examine the importance of information disclosure to safeguard the investor investment. This paper will refine the theoretical background of agency theory associated with the information disclosure. The findings of this paper provide a new dimension of symmetrical information disclosure with the aim to sustain a firm in the financial market and enhance investors’ confidence.
Cogent Economics & Finance
This study investigates the endogeneity among foreign direct investment, economic growth, and sto... more This study investigates the endogeneity among foreign direct investment, economic growth, and stock market development, along with the moderating role of political instability on the relationship among foreign direct investment, economic growth, and stock market development. The study employs selected macroeconomic variables data for the period of 1993-2016 with Auto Regressive Distributed Lag (ARDL) system and hierarchical regression approach for hypothesis testing. This study discovers that there are short-run and long-run association among economic growth, foreign direct investment, and stock market development. In the long run, only unidirectional relationship exists among economic growth, foreign direct investment, and stock market development. However, in the short-run, bidirectional relationship is evident between economic growth and stock market development. This study reveals that foreign direct investment partially mediates the relationship between economic growth and stock market development; and political instability negatively moderates the economic growth and stock market development nexus, the foreign ABOUT THE AUTHORS
Cogent Economics & Finance
This study reexamines the stock market development and economic growth nexus. Also, examine the m... more This study reexamines the stock market development and economic growth nexus. Also, examine the moderating role of foreign capital inflows and exchange rate on the relationship between stock market development and economic growth of Malaysia during 1981-2016. This study applies Granger test, ARDL (with bound testing) approach, and multivariate regression approach to examine extent and direction of the relationships among variabels, empirically. Granger causality test suggests that there are unidirectional effects of stock market development to Malaysian economic growth. Using the bound test for co-integration, this study finds there is a long run association between stock market development and economic growth. However, ARDL model reports that, in the short run and long run, stock market promotes the economic growth of Malaysia which is consistent with Granger causality test. Aditionally, foreign capital inflows and exchange rate has significant positive and negative moderating effects, respectively, on the relationship between stock market development and economic growth. Nevertheless, when both foreign capital inflows and exchange rate interact with each other, there is a joint positive effect on the relationship between stock market development and economic
Despite the criticisms on the validity of the CAPM, finance researchers continue to adopt the mod... more Despite the criticisms on the validity of the CAPM, finance researchers continue to adopt the model in trying to describe the relationship between risk and return. The introduction of the GARCH(p,q)-M model provides an avenue for testing the model within the time-varying variance framework. This study employs the same model to address the issue within ten selected Asia Pacific countries. The result, though not comprehensive, shows that the CAPM still holds in explaining the risk-return relationship in China and Malaysia. The significant positive risk parameter coefficient suggests a positive linear relationship which indicates that investors are compensated for assuming high risk. Judging by the significant finding in China and Malaysia, this study provides evidence that the conditional CAPM is a useful tool for decision making in investments and corporate finance.
Despite the criticisms on the validity of the CAPM, finance researchers continue to adopt the mod... more Despite the criticisms on the validity of the CAPM, finance researchers continue to adopt the model in trying to describe the relationship between risk and return. The introduction of the GARCH(p,q)-M model provides an avenue for testing the model within the time-varying variance framework. This study employs the same model to address the issue within ten selected Asia Pacific countries. The result, though not comprehensive, shows that the CAPM still holds in explaining the risk-return relationship in China and Malaysia. The significant positive risk parameter coefficient suggests a positive linear relationship which indicates that investors are compensated for assuming high risk. Judging by the significant finding in China and Malaysia, this study provides evidence that the conditional CAPM is a useful tool for decision making in investments and corporate finance.
Despite the criticisms on the validity of the CAPM, finance researchers continue to adopt the mod... more Despite the criticisms on the validity of the CAPM, finance researchers continue to adopt the model in trying to describe the relationship between risk and return. The introduction of the GARCH(p,q)-M model provides an avenue for testing the model within the time-varying variance framework. This study employs the same model to address the issue within ten selected Asia Pacific countries.
Accounting and Finance Research
This paper examines the effect of portfolio diversification for stocks listed on the Malaysian st... more This paper examines the effect of portfolio diversification for stocks listed on the Malaysian stock exchange. We determine the extent to which the unsystematic risk component can be reduced through diversification posited by Modern Portfolio Theory. Prices of randomly selected stocks were obtained from Yahoo! Finance for the five year period starting from January 2010 to March 2014. In order to analyze the robustness of the empirical results, three sets of portfolios were tested in this study and each set contained 55 stocks. The total sample of 165 stocks was chosen from different sectors that are listed under Bursa Malaysia. In addition, the three samples were tested for two type of differencing intervals, daily and weekly, to obtain more robust results. The empirical findings of the study show that increasing the number of stocks in the sample portfolio leads to decreasing standard deviation (unsystematic risk) the investment portfolio for Malaysia Stock Market stocks until each...
Jurnal Pengurusan, Jul 1, 2000
Applied Economics and Finance, 2015
Issues in Economics and Business, 2015
Accounting and Finance Research, 2014
Handbook of Asian Finance, 2014
ABSTRAK Kesan pimpin-lengah antara pasaran niagaan kedepan dengan indeks saham telah menarik mina... more ABSTRAK Kesan pimpin-lengah antara pasaran niagaan kedepan dengan indeks saham telah menarik minat penyelidik kewangan untuk mengenal pasti punca kewujudan fenomena berkenaan. Pasaran niagaan kedepan memainkan peranan yang penting dalam proses penemuan harga kerana pasaran ini didapati mendahului indeks saham dari segi memberi tindak balas kepada maklumat baru. Keadaan ini dikaitkan dengan isu harga lapuk di kalangan komponen indeks saham yang berpunca daripada masalah kekerapan dagangan yang rendah. Kajian ini menyiasat pengaruh kekerapan dagangan terhadap kewujudan kesan pimpin-lengah di Malaysia. Hasil kajian mendapati kontrak niagaan kedepan indeks saham bukan sahaja mendahului sahamsaham tidak aktif, malah ia juga turut mendahului saham-saham aktif yang menjadi komponen Indeks Komposit. Penemuan ini bercanggah dengan teori yang dicadangkan kerana kesan pimpin-lengah didapati wujud di kalangan saham-saham aktif dan tidak aktif. Oleh yang demikian, kajian ini membuktikan yang isu kekerapan dagangan bukanlah penyumbang terhadap kewujudan kesan pimpin-lengah antara pasaran niagaan kedepan dengan indeks saham di Malaysia. ABSTRACT The lead-lag effect between stock index futures and stock index has attracted the interest of finance researchers to identify the factors that contributed to the phenomenon. Stock index futures play an important role in the price discovery process since it leads the stock index in responding to new information. This is associated with the problem of stale prices due to the infrequent trading of some inactive component stocks. This paper investigates the influence of infrequent trading towards the existence of lead-lag effect in Malaysia. The result shows that the Composite Index futures contract did not only lead the inactive component stocks but also the active stocks. Such findings contradict the proposed theory because the lead-lag effect prevails among both active and inactive component stocks. Therefore, this study shows that the issue of infrequent trading does not contribute towards the existence of lead-lag effect between stock index futures and stock index in Malaysia.
Journal of Asset Management, 2005
... 6, 4, 298318 Palgrave Macmillan Ltd 1479-179X/05 $30.00 Seasonality in the Asia Pacific stoc... more ... 6, 4, 298318 Palgrave Macmillan Ltd 1479-179X/05 $30.00 Seasonality in the Asia Pacific stock markets Received: 28th June, 2005 Noor Azuddin Yakob* is a senior lecturer at the Faculty of Economics and Business, Universiti Kebangsaan Malaysia. ...
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Papers by Noor Azuddin Yakob