Malaysian Journal of Business, Economics and Management

Finpay Remittance Service Innovation: Product Development Using a Design Thinking Approach to Enhance User Experience

2024-12-26T02:35:44+00:00

Remittances contribute altogether to Indonesia's foreign exchange, totaling 9.75 billion USD or around 145 trillion Rupiah in 2022. In 2023, household remittance exchanges come to 42 trillion Rupiah. In spite of this huge potential, Finpay Remittance controls as it were 1.90% of the showcase share, reflecting its underperformance over the past three a long time in assembly company targets. This consider points to recognize the essential issues confronted by clients and discover suitable arrangements employing a plan considering approach. This investigate employments a clear subjective technique with a case think about approach. The most witnesses are Finpay Remittance users, met to evaluate their encounters with the benefit. The plan considering approach takes after the stages of empathizing, characterizing, ideating, prototyping, and testing. Amid the empathize arrange, the analyst conducted interviews with key witnesses and supporting members, interpreting the results into client travel maps and sympathy maps to imagine client issues. Within the characterize arrange, issues were prioritized and categorized, taken after by the advancement of occupations to be done, focuses of see, and how might we explanations. The ideate arrange included a bunch discourse and brainstorming, with thoughts contracted down through dab voting. The beat thoughts, approved by clients, were utilized to make the model. The model, created utilizing Figma, was tried with a Framework Ease of use Scale (SUS) survey. The result, with a score of 85.5, demonstrates solid client acknowledgment, affirming the prototype's adequacy and significance.

Board Attributes and Corporate Tax Avoidance: The Moderating Role of Board Gender Diversity

2025-01-02T15:05:41+00:00

Tax avoidance (TA) denotes to using tax bylaws in a way that is not envisioned by the government (Hoseini et al., 2019). It is a technique of evading tax or lessening the sum of tax that should be paid (Hoseini et al., 2019). The present study aimed to attain an understanding on whether board attributes (BODATBTs) impact the extent of TA amongst Bangladeshi listed corporations. The research also aimed to offer further evidence which supports or discards preceding research outcomes in developed economies and to conclude whether the outcomes could be generalized in the context of an emerging economy like Bangladesh. The study has found that the interaction term BDS*BGD has positive significant consequence to corporate tax avoidance (CTA), and the interaction term BDI*BGD has negative significant consequence to CTA, thus board gender diversity (BGD) has moderating effect on the relationship of BDS and BDI with corporate tax avoidance.

Growth Mechanisms: Dissecting the Economic Determinants of Pakistan's GDP

2024-08-21T02:23:05+00:00

This study employs ARDL's short- and long-run estimation methodologies to examine the elements that have contributed to Pakistan's economic growth between the years 1991 and 2023. According to the data, the export-to-GDP ratio and consumer price index (CPI) had minimal detrimental impacts on GDP. However, at a significance level of 5%, we observed that an increase of one unit in both the total labor force (TLF) and gross fixed capital formation (GFCF) resulted in a near-term GDP increase of 0.695 units and a long-term GDP gain of 0.733 units. These findings indicate substantial and positive impacts on GDP. Despite its favorable nature, the life expectancy rate (LER) did not have any noticeable effect on GDP in the short or medium term. These findings emphasize the importance of increasing both capital expenditure and the workforce's size in driving Pakistan's economic expansion. In order to sustain and accelerate economic growth, the paper proposes a reassessment of trade and inflation policies, with a greater focus on policies that promote workforce growth and capital accumulation, as well as enhancing the overall quality of human capital.

Assessment of the Impact of Fuel Subsidy Removal on Market Prices in Kwara State, Nigeria

2024-10-30T17:02:48+00:00

This study assesses the impact of fuel subsidy removal on market prices in Kwara State, Nigeria, from May 29, 2023, to the present. The objectives include analysing price variations in essential commodities and assessing their economic implications on households. Using a mixed-methods approach, primary data were collected through surveys, interviews, and market observations, while secondary data were obtained from official reports. The analysis employed Analysis of Variance (ANOVA) to determine statistically significant differences in price changes across sectors. Results indicate substantial price increases, particularly in fuel-dependent industries such as transportation and food, disproportionately affecting low-income households. ANOVA results confirmed significant price disparities between pre- and post-subsidy removal periods. The study concludes that immediate policy interventions, such as targeted subsidies and social support, are essential to mitigate inflationary pressures and economic hardship. Policymakers should prioritise strategies to safeguard vulnerable populations and maintain economic stability.

Insurance Companies' Activities to Maintain Customer Loyalty in a Competitive Market Environment

2024-06-10T01:49:37+00:00

It is important for businesses to prioritize customer satisfaction to gain customer loyalty and trust. Maintaining customer loyalty is important for companies that want to build lasting relationships with customers, as they understand that the cost of acquiring new customers is significantly higher than retaining current ones. Currently, mere repeat purchases are not enough They must also have a strong and positive attitude towards the brand or business. Ensuring customer satisfaction and loyalty allows companies to achieve their market capitalization goals. Like any other business, customer loyalty is important in the insurance industry. Insurance companies need to scrutinize customer loyalty to ensure that their customers renew their insurance policies. This study examined the initiatives taken by insurance companies to maintain customer loyalty in Pakistan, and a field study was conducted to identify factors affecting customer satisfaction and loyalty in insurance firm.

Why Goal Setting Theory is the Most Relevant in Today’s Workforce?

2024-10-21T10:49:01+00:00

Goal Setting Theory (GST), developed by Locke and Latham (1990), remains one of the most influential and widely applied motivational frameworks in contemporary organizational psychology. The theory's core principles—goal specificity, difficulty, commitment, feedback, and task complexity—have been instrumental in shaping how organizations set goals to enhance employee motivation, engagement, and performance. Considering significant shifts in the workforce due to technological advancements, remote work, and an increasing emphasis on employee autonomy, this paper explores why GST remains relevant in today’s workforce. By conducting a mixed-methods study that incorporates both quantitative and qualitative data across a range of industries, this paper demonstrates how organizations can effectively leverage GST to address contemporary challenges such as managing remote teams, maintaining productivity in a decentralized environment, and fostering higher levels of employee engagement. The study concludes that GST continues to offer a robust framework for managing the complexities of modern work environments, particularly when integrated with digital tools and personalized goal-setting approaches.

Risk Management Committee and Earnings Quality of Listed Nigerian Insurance Firms

2024-09-08T05:18:28+00:00

This study examines the effect of risk management committees on earnings quality of listed insurance firms in Nigeria. This study employed an ex-post facto research design to collect data from annual reports, corporate governance disclosures, and financial databases of 23 Nigerian insurance firms listed on the Nigerian Exchange Group (NGX). The ex-post facto design was chosen to use existing data without manipulation. Census sampling was applied to include the entire population, covering a twelve-year period from 2012 to 2023, which corresponds with the transition of the Nigerian Stock Exchange to the NGX. The study utilized both descriptive statistics and inferential statistics, such as panel regression and correlational analysis, to analyse the data comprehensively. The findings revealed that size of the risk management committee and its gender diversity were found to have a negative and significant effect on earnings quality. Conversely, the frequency of risk management committee meetings and the independence of the committee members were shown to positively and significantly impact earnings quality. These findings reveal the importance of optimizing the composition and functioning of risk management committees to enhance financial reporting quality within the Nigerian insurance sector. The study concludes that the frequent meetings and the inclusion of independent members in the risk management committee are crucial for improving the quality of financial reporting. Therefore, for insurance firms to achieve higher earnings quality, careful consideration must be given to the composition and operational dynamics of their risk management committees.

Managerial Accounting in Private Dental Organization in Malaysia

2024-09-01T16:29:15+00:00

Managerial accounting plays a pivotal role in the effective operation of dental clinics in Malaysia, providing essential financial insights for decision-making that enhances operational efficiency and profitability. This study explores the application of managerial accounting practices within iCare Dental Sdn Bhd, a leading chain of dental clinics in Malaysia. The research focuses on key managerial accounting metrics including strategic planning, cost management, budgeting and performance measurement to assess their impact on the clinic’s financial and operational performance. The study employs a semi-structured interview methodology, conducted with one of the co-founders of iCare Dental Sdn Bhd. The interview covers various aspects of the clinic’s operations, including its business planning, costing systems, budgeting processes, and performance evaluation methods. The data collected provides insights into the clinic's managerial accounting practices and their alignment with strategic business objectives. The results reveal that, while iCare Dental Sdn Bhd has a documented business plan and clear strategic objectives, the application of managerial accounting tools remains basic and requires further enhancement. The clinic relies heavily on external chartered accountants for financial management, which may limit the dynamic application of managerial accounting practices within the organization. Costing and budgeting systems are influenced by market conditions, and performance measurement primarily focuses on profitability. Although these practices contribute to the clinic’s growth and financial stability, there is potential for improvement through the adoption of more comprehensive managerial accounting tools. In conclusion, the study highlights the importance of integrating robust managerial accounting practices within dental clinics to achieve financial sustainability and enhance patient care. iCare Dental Sdn Bhd can benefit from further development in cost management, budgeting, and performance measurement to fully realize its strategic goals and maintain its competitive edge in the Malaysian healthcare industry.

Analysis of IoT Business Strategy Development in the Transportation Sector at Telkom Indonesia Based on the PESTEL-SWOT Paradigm Analysis

2024-09-09T09:36:10+00:00

This research aims to analyze the development of IoT business strategies in the transportation sector at Telkom Indonesia. The analysis used is based on the PESTEL-SWOT analysis paradigm. The research approach employed is qualitative with a descriptive method focused on the internal informality of Telkom Indonesia within the IoT Tribe. Data collection techniques include in-depth interviews, observations, and literature studies. Data analysis utilizes data triangulation obtained from the integration of PESTEL-SWOT analysis. The research results indicate that combining internal strengths and external opportunities can form a structured business strategy for Telkom Indonesia in the transportation sector. The SO strategy allows companies to leverage infrastructure and reputation for digital service innovation. The WO strategy encourages collaboration with the government and state-owned enterprises to address weaknesses and develop the necessary infrastructure. In facing competitive threats, the ST strategy encourages Telkom to utilize innovative products to maintain consumer trust. The WT strategy emphasizes resource optimization and infrastructure strengthening to sustain competitiveness. Through this approach, Telkom Indonesia can tackle challenges while enhancing its position as a leader in the IoT industry.

Investigating the Effectiveness of Lean Manufacturing Principles in Improving Productivity for Malaysian Automotive Company

2024-06-24T07:53:38+00:00

This study examines the effectiveness of lean manufacturing principles in enhancing productivity within a Malaysian automotive company. Through a comprehensive literature review, the research explores the implementation and impact of lean manufacturing on productivity, focusing on key strategies such as reducing lead times, lowering operational costs, and improving product quality. Quantitative analysis techniques, including descriptive statistics, moving averages, and simple regression, were applied to a dataset from Kaggle to assess production trends and future forecasts. Findings suggest a strong correlation between population growth and car production in Asian countries from 2015 to 2019, with predictions indicating continued growth. The analysis highlights the role of lean principles in fostering sustainable car manufacturing by minimizing waste and enhancing efficiency. By adopting lean practices, automotive companies can optimize resource utilization, improve working conditions, and contribute to a greener environment. The study provides valuable insights and recommendations for Malaysian automotive firms seeking to maximize productivity and sustainability through lean manufacturing.

The Influence of Organizational Culture on Leadership Effectiveness in Malaysian Manufacturing Firms

2024-10-21T10:44:04+00:00

This study explores the impact of organizational culture on leadership effectiveness in Malaysian manufacturing firms, emphasizing the influence of Japanese organizational practices. Japan's industrial development has significantly shaped leadership styles in Malaysia’s manufacturing sector. The research examines how organizational culture affects leadership effectiveness and identifies key cultural factors contributing to this relationship.A quantitative approach was used, collecting data from 120 respondents at Shin-Etsu Polymer (M) Sdn Bhd in Shah Alam, Selangor. The findings highlight that organizational culture is a crucial determinant of leadership effectiveness. A positive culture fosters open communication, employee engagement, and innovation, while a negative culture hinders leadership through poor communication and reduced employee involvement. The study emphasizes the need for firms to cultivate a supportive and collaborative organizational culture to enhance leadership effectiveness. Strategies such as encouraging teamwork, promoting innovation, and investing in leadership development can help organizations remain competitive. By actively managing their organizational culture, Malaysian manufacturing firms can strengthen leadership capabilities and achieve sustainable success.

Investor Sentiment and Malaysian Government Bonds: A COVID-19 Case Study

2024-12-03T15:37:25+00:00

The COVID-19 pandemic has fundamentally altered investment strategies, particularly in bond markets. This study examines the global determinants of Malaysian government bond yields, comparing pre-pandemic and pandemic periods using daily data from January 2017 to May 2021. During the pandemic, Malaysian government bonds exhibited equity-like characteristics, diverging from their traditional safe-haven role, as evidenced by a positive relationship between bond yields and investor sentiment shocks. Gold prices emerged as the most influential factor, with their impact on bond yields becoming more pronounced during the pandemic, reaffirming gold's status as a safe-haven asset. The findings suggest that investors moved assets to gold during heightened risk periods before transitioning back to bonds. This highlights the need for investors to monitor gold prices and for policymakers to enhance bond market stability during crises to mitigate future economic uncertainties.