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Papers by Zahidah Bahrudin
Asia-Pacific Management Accounting Journal
Whilst regional participation across ASEAN induces the liberalization of trade and investment, as... more Whilst regional participation across ASEAN induces the liberalization of trade and investment, as well as other forms of economic cooperation, the quality of governance plays a crucial role as it is a key component of sustainability. This study aimed to examine how governance quality factors influenced stock market performance. This study applied the Panel Least Square (PLS) and Panel Cointegration Full-Modified Ordinary Least Squares (FMOLS) estimations to gauge how quality governance factors impact an integrated ASEAN stock market in the long run. This study utilized data from the ASEAN Exchanges covering the period 2002 to 2020. The findings demonstrated the significant positive influence of voice and accountability, as well as political stability and the lack of violence; meanwhile, rule of law negatively affects the stock market performance. The study also identified a long-term relationship between governance quality and stock market performance. This implies that higher-quali...
Information Management and Business Review
The increasing publication and citation performances of Firm Efficiency research for the past 35 ... more The increasing publication and citation performances of Firm Efficiency research for the past 35 years have attracted scholars to further embark on this area. Hence, the main objective of this study is to explore what scholars have learned from Firm Efficiency research over the past 35 years. This study uses bibliometric analysis to analyze top productive countries, top 10 journals, top 10 prominent authors, top 20 cited articles, and emerging themes. Selected findings indicated that the United States, China and Taiwan are the top three most productive countries in Firm Efficiency research. In addition, five emerging themes were highlighted in Firm Efficiency research for the past 35 years. The five themes were: 1) Stochastic Frontier Analysis in measuring firm productivity and size, 2) Bootstrapping DEA and SFA in measuring firm efficiency, 3) Corporate Governance and Technical Efficiency, 4) DEA as benchmarking in Firm Efficiency, and 5) Capital Structure and Ownership Structure. ...
International Journal of Academic Research in Economics and Management Sciences
13th GLOBAL CONFERENCE ON BUSINESS AND SOCIAL SCIENCES
The Malaysian government has provided green financing initiatives to encourage companies to embar... more The Malaysian government has provided green financing initiatives to encourage companies to embark on those projects. One of the green financing initiatives is the introduction of the Green Technology Financing Scheme (GTFS). The scheme has been offered since 2010, and RM 3.5 billion allocated funds have been utilised within seven years. Despite the huge amount of funds being allocated, the utilisation of the funds has been relatively slow and underutilised. Preliminary observations indicate that the cause is mainly the perceived risk that hinders users or borrowers from participating in the financing package. In addition, there seems to be a vast distance between application approval and rejection volume among the users because applicants cannot meet the technical requirement, and GTFS is an unattractive financing package. Thus, GTFS is considered high risk with little or no success story in the past. There are two objectives of the study. First, to analyse the Green Financing tren...
Division of Research and Industry Linkages, 2017
2011 IEEE Colloquium on Humanities, Science and Engineering, 2011
This paper evaluates the financial performance of Small and Medium Enterprises (SMEs) of services... more This paper evaluates the financial performance of Small and Medium Enterprises (SMEs) of services sector in Malaysia, from the periods of 2003 to 2007. These firms have taken the Islamic guarantee schemes as provided by the Credit Guarantee Corporation Malaysia Berhad (CGC), which were introduced to meet the demand of entrepreneur for Shari'ah-compliant financing facilities. The results indicate that the
Faculty of Computer and Mathematical Sciences, 2021
Financial institutions have been found to be one of the major contributors to the economy of nume... more Financial institutions have been found to be one of the major contributors to the economy of numerous countries. The failure of this industry can affect the economic growth and the expanding economic opportunity. In the globalization landscape, financial liberalization also takes place, in which, the central bank permits foreign bank ownerships to invest and to establish their plans locally. The existence of foreign banks has created competitions for local owned banks when they attempt to achieve full efficient performance, as well as in becoming leaders in the market. In addition, the Malaysian government has implemented the new policy named Financial Sector Master Plan (FSMP) in order to strengthen and enhance the local banks operation. Therefore, the assessment of whether local banks have outperformed foreign banks is crucial, especially due to the execution of FSMP for the Malaysian banking system. For that reason, this study examined cost, revenue, and profit efficiency of both...
Financial institutions have been found to be one of the major contributors to the economy of nume... more Financial institutions have been found to be one of the major contributors to the economy of numerous countries. The failure of this industry can affect the economic growth and the expanding economic opportunity. In the globalization landscape, financial liberalization also takes place, in which, the central bank permits foreign bank ownerships to invest and to establish their plans locally. The existence of foreign banks has created competitions for local owned banks when they attempt to achieve full efficient performance, as well as in becoming leaders in the market. In addition, the Malaysian government has implemented the new policy named Financial Sector Master Plan (FSMP) in order to strengthen and enhance the local banks operation. Therefore, the assessment of whether local banks have outperformed foreign banks is crucial, especially due to the execution of FSMP for the Malaysian banking system. For that reason, this study examined cost, revenue, and profit efficiency of both...
Trilemma policy refers to a concept of international economics that states it is impossible to ga... more Trilemma policy refers to a concept of international economics that states it is impossible to gain all three variables at one time, which is also known as Mundell-Fleming framework. The trilemma policies consist of independent monetary policy, exchange rate stability, and free capital mobility. Pursuing any two of the variables will shadow the other one. Sterilization, on the other hand, reflects the policy set by Central Bank to limit the effects of inflow and outflow of capital money supply. Trilemma policy may influence sterilization, proxy by Central Bank Reserve, as the latter depends on the former. This study determined the relationship between trilemma policy and sterilization by placing focus on four nations, namely Qatar, Kuwait, Indonesia and Japan. Monthly data were gathered from 2009 to 2017. At the end of this research, the findings verified if it is "possible or not possible to maintain all the three variables in the trilemma policy to achieve a stable economic condition by way of sterilization."
Empirical Economics Letters, 2021
This study emphasizes on the determinants of capital structure in Shariah-compliant industrial fi... more This study emphasizes on the determinants of capital structure in Shariah-compliant industrial firms which are listed in Bursa Malaysia for the period of 2008-2018. This research is motivated by the issue of inconclusive findings in the area of capital structure. We employ a Static Model. Empirical findings on this study discover that firm specific factors, for example, profitability, tangibility, liquidity and firm size are significant in affecting the corporate financing decisions. It also reveals that the dominant theories influencing the corporate finance behaviour are pecking order and agency theory.
Asia-Pacific Management Accounting Journal
Whilst regional participation across ASEAN induces the liberalization of trade and investment, as... more Whilst regional participation across ASEAN induces the liberalization of trade and investment, as well as other forms of economic cooperation, the quality of governance plays a crucial role as it is a key component of sustainability. This study aimed to examine how governance quality factors influenced stock market performance. This study applied the Panel Least Square (PLS) and Panel Cointegration Full-Modified Ordinary Least Squares (FMOLS) estimations to gauge how quality governance factors impact an integrated ASEAN stock market in the long run. This study utilized data from the ASEAN Exchanges covering the period 2002 to 2020. The findings demonstrated the significant positive influence of voice and accountability, as well as political stability and the lack of violence; meanwhile, rule of law negatively affects the stock market performance. The study also identified a long-term relationship between governance quality and stock market performance. This implies that higher-quali...
Information Management and Business Review
The increasing publication and citation performances of Firm Efficiency research for the past 35 ... more The increasing publication and citation performances of Firm Efficiency research for the past 35 years have attracted scholars to further embark on this area. Hence, the main objective of this study is to explore what scholars have learned from Firm Efficiency research over the past 35 years. This study uses bibliometric analysis to analyze top productive countries, top 10 journals, top 10 prominent authors, top 20 cited articles, and emerging themes. Selected findings indicated that the United States, China and Taiwan are the top three most productive countries in Firm Efficiency research. In addition, five emerging themes were highlighted in Firm Efficiency research for the past 35 years. The five themes were: 1) Stochastic Frontier Analysis in measuring firm productivity and size, 2) Bootstrapping DEA and SFA in measuring firm efficiency, 3) Corporate Governance and Technical Efficiency, 4) DEA as benchmarking in Firm Efficiency, and 5) Capital Structure and Ownership Structure. ...
International Journal of Academic Research in Economics and Management Sciences
13th GLOBAL CONFERENCE ON BUSINESS AND SOCIAL SCIENCES
The Malaysian government has provided green financing initiatives to encourage companies to embar... more The Malaysian government has provided green financing initiatives to encourage companies to embark on those projects. One of the green financing initiatives is the introduction of the Green Technology Financing Scheme (GTFS). The scheme has been offered since 2010, and RM 3.5 billion allocated funds have been utilised within seven years. Despite the huge amount of funds being allocated, the utilisation of the funds has been relatively slow and underutilised. Preliminary observations indicate that the cause is mainly the perceived risk that hinders users or borrowers from participating in the financing package. In addition, there seems to be a vast distance between application approval and rejection volume among the users because applicants cannot meet the technical requirement, and GTFS is an unattractive financing package. Thus, GTFS is considered high risk with little or no success story in the past. There are two objectives of the study. First, to analyse the Green Financing tren...
Division of Research and Industry Linkages, 2017
2011 IEEE Colloquium on Humanities, Science and Engineering, 2011
This paper evaluates the financial performance of Small and Medium Enterprises (SMEs) of services... more This paper evaluates the financial performance of Small and Medium Enterprises (SMEs) of services sector in Malaysia, from the periods of 2003 to 2007. These firms have taken the Islamic guarantee schemes as provided by the Credit Guarantee Corporation Malaysia Berhad (CGC), which were introduced to meet the demand of entrepreneur for Shari'ah-compliant financing facilities. The results indicate that the
Faculty of Computer and Mathematical Sciences, 2021
Financial institutions have been found to be one of the major contributors to the economy of nume... more Financial institutions have been found to be one of the major contributors to the economy of numerous countries. The failure of this industry can affect the economic growth and the expanding economic opportunity. In the globalization landscape, financial liberalization also takes place, in which, the central bank permits foreign bank ownerships to invest and to establish their plans locally. The existence of foreign banks has created competitions for local owned banks when they attempt to achieve full efficient performance, as well as in becoming leaders in the market. In addition, the Malaysian government has implemented the new policy named Financial Sector Master Plan (FSMP) in order to strengthen and enhance the local banks operation. Therefore, the assessment of whether local banks have outperformed foreign banks is crucial, especially due to the execution of FSMP for the Malaysian banking system. For that reason, this study examined cost, revenue, and profit efficiency of both...
Financial institutions have been found to be one of the major contributors to the economy of nume... more Financial institutions have been found to be one of the major contributors to the economy of numerous countries. The failure of this industry can affect the economic growth and the expanding economic opportunity. In the globalization landscape, financial liberalization also takes place, in which, the central bank permits foreign bank ownerships to invest and to establish their plans locally. The existence of foreign banks has created competitions for local owned banks when they attempt to achieve full efficient performance, as well as in becoming leaders in the market. In addition, the Malaysian government has implemented the new policy named Financial Sector Master Plan (FSMP) in order to strengthen and enhance the local banks operation. Therefore, the assessment of whether local banks have outperformed foreign banks is crucial, especially due to the execution of FSMP for the Malaysian banking system. For that reason, this study examined cost, revenue, and profit efficiency of both...
Trilemma policy refers to a concept of international economics that states it is impossible to ga... more Trilemma policy refers to a concept of international economics that states it is impossible to gain all three variables at one time, which is also known as Mundell-Fleming framework. The trilemma policies consist of independent monetary policy, exchange rate stability, and free capital mobility. Pursuing any two of the variables will shadow the other one. Sterilization, on the other hand, reflects the policy set by Central Bank to limit the effects of inflow and outflow of capital money supply. Trilemma policy may influence sterilization, proxy by Central Bank Reserve, as the latter depends on the former. This study determined the relationship between trilemma policy and sterilization by placing focus on four nations, namely Qatar, Kuwait, Indonesia and Japan. Monthly data were gathered from 2009 to 2017. At the end of this research, the findings verified if it is "possible or not possible to maintain all the three variables in the trilemma policy to achieve a stable economic condition by way of sterilization."
Empirical Economics Letters, 2021
This study emphasizes on the determinants of capital structure in Shariah-compliant industrial fi... more This study emphasizes on the determinants of capital structure in Shariah-compliant industrial firms which are listed in Bursa Malaysia for the period of 2008-2018. This research is motivated by the issue of inconclusive findings in the area of capital structure. We employ a Static Model. Empirical findings on this study discover that firm specific factors, for example, profitability, tangibility, liquidity and firm size are significant in affecting the corporate financing decisions. It also reveals that the dominant theories influencing the corporate finance behaviour are pecking order and agency theory.