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International Journal of Management Studies (IJMS) Vol. 14, No. 2 December 2007

Estimating Cost Savings through Adoption of the Best-Practice Technique: Evidence from the Malaysian Manufacturing Sector
Norlaila Abdullah Chik, Zakariah Abdul Rashid & Mohd Yusof Saari
Faculty of Economics and Management
Universiti Putra Malaysia
Abstract Ɩ  Full Text
By using the input-output approach, this article attempts to estimate costs of production by using the 1978 vintage and best-practiced techniques, based on the vintage hypothesis that as time progresses and price rises, adopting the best-practice technique will give more cost saving and use less amount of inputs for each unit of output produced, rather than the old techniques. This paper has identified three component production costs of vintage technology, domestic materials, imported input, and labour. It was found that costs of production for the best-practice technique are less than those of the older one (vintage), supporting the vintage hypothesis. Thus, there is a strong argument for the economy to adopt the best-practice technique because it is absolutely a considerable advantage in terms of saving in the per unit cost of production.

Improving MSW Landfilling System of Developing Countries: An Assessment of Current Conditions and Situations in Kedah, Malaysia
Juzhar Jusoh & Shamzaeffa Samsudin
Faculty of Economics
Universiti Utara Malaysia
Abstract Ɩ  Full Text
This article is about finding key structural and institutional adjustments that, if undertaken, would allow for realisation of continuous improvements to any municipal solid waste (MSW) landfilling system. Our analysis of the MSW landfilling systems of the developed nations had shown that every modern MSW landfilling system is comprised at least four major components that are interconnected. These four components are rules and regulations, environmental protection measures consisting of procedures, engineering, and technology, organisation and personnel arrangement, and revenues and costs. With the objective of finding what changes are necessary so as to cause improvement to the Kedah’s landfilling system, data on all four components were collected. The data gathering methods that were employed included a self-administered questionnaire, field observations, and structured interviews. Our assessment of the landfilling system of Kedah yielded the following results: the majority of landfill facilities in Kedah consisted of crude open dumping operations and the contributory factors to this situation include; facility operations were not overseen by higher level of governmental bodies; badly or improperly site, design, and construction criteria; facility management by either untrained or unskilled managers; and lack funds. The structural and institutional adjustments that we think should be undertaken include development of clearer laws and re-assignment of oversight responsibilities, adoption of appropriate landfilling practices and technology, creation of landfill worker training programmes, and the development of new financing devices to pay for higher costs associated with safer landfilling technology and management. Not until all of these four adjustments have been simultaneously considered, any attempts to cause improvements to the Kedah’s MSW landfilling systems will only just be a temporary solution.
Keywords: Structural and institutional adjustments; landfills; municipal solid waste disposal.

Flexibility between Market-Led and Government-Led Economies
Shri Dewi Subramaniam
Faculty of Economics
Universiti Utara Malaysia
Jeyapalan Kasipillai
School of Business
Monash University
Sunway Campus
Abstract Ɩ  Full Text
The 1997-98 East Asia financial crisis has raised doubts over the roles of two economic-systems: market-led and government-led economies. This paper deliberates on the two opposing economic systems: the choice of which are continually debated. There is a need for governments to look at economic flexibility and determine whether the countries affected by the financial crisis could reposition themselves fast enough. More specifically, this paper evaluates the performance of government-led economies such as those in Malaysia, Singapore, Thailand, Philippines, and Indonesia when compared to marketled economies as practised in the United Kingdom, United States, and Japan. A compilation of an index method based on Angresano (1996) consisting of the quantitative performance measure for an identified country was computed over the average period 1980-2003. The findings of this study suggest that the approaches to a market-led or government-led economy is a matter of degree and are not mutually exclusive.
Keywords: Government-led economy; market-led economy; flexibility; compilation index.

The Relationships between Corporate Meeting Planner’s Personality Traits and Their Choices of Meeting Places
Ahmad Azmi M. Ariffin
Faculty of Economics and Business
Universiti Kebangsaan Malaysia
Nor Khomar Ishak
Faculty of Hospitality and Tourism
Universiti Tun Abdul Razak
Abstract Ɩ  Full Text
This study is to determine the influence of personality on the novelty preference for corporate meeting destination choice. The Big-Five model of personality which consists of five traits namely openness, conscientiousness, extraversion, agreeableness, and neuroticism was employed to operationalise the personality construct. A total of 75 corporate meeting planners drawn from public listed service organisations were involved. The main method of data collection was questionnaire survey and multiple regression analysis was employed as the main statistical analysis. The results revealed that only openness (positively) and agreeableness (negatively) contributed significantly to the prediction of novelty preference for corporate meeting destination choice. This study, which also seeks to determine the relationships between some demographical variables and novelty preference, found that demographical information is not a good predictor of meeting destination choice. The main implication of this study is pertaining to the segmentation and targeting of the corporate meeting market. This study also helps in bridging the gap between tourism marketing and organisational research.
Keywords: Corporate meeting destination; Novelty preference; Big-Five personality model.

The Impact of Increase in Energy Prices on Sectoral Costs of Production of the Malaysian Economy
Mohd Yusof Saari & Zakariah Abdul Rashid
Department of Economics
Universiti Putra Malaysia
Abstract Ɩ  Full Text
This paper examines the impact of an increase in the petroleum price on the sectoral costs of production. Three components of costs of production, which comprise domestic materials, imported input, and labour have been identified. By using the input-output model, different scenarios of the petroleum price changes on sectoral costs of production were stimulated. The simulation results indicated that the fishing, forestry, and logging product, electricity and gas, cement, lime and plaster, and transport sectors are mostly affected by the increase in petroleum price. These sectors are expected to show large impact on costs of production as a result of petroleum price increase because these industries highly consume petroleum products as an intermediate input in their production process.

Modal Sosial dalam Mempertingkat Daya Saing Firma Perusahaan Kecil dan Sederhana (PKS)
Noorasiah Sulaiman & Mohd Nasir Mohd Saukani
Fakulti Ekonomi dan Perniagaan
Universiti Kebangsaan Malaysia
Abstract Ɩ  Full Text
Kajian lepas menunjukkan modal sosial penting terhadap pembangunan firma Perusahaan Kecil Sederhana (PKS). Namun demikian, sejauh mana modal tersebut mempunyai hubungan dengan kejayaan firma masih tidak dibuktikan secara empirik. Berbeza dengan kajian-kajian lain, kajian ini menganalisis modal sosial dan hubungannya dengan tingkat daya saing firma menerusi indikator jaringan modal sosial dan tingkat kecekapan teknik firma. Menggunakan data kajian lapangan terhadap pengusaha bumiputera Melayu sektor pembuatan di Semenanjung Malaysia, hasil kajian menunjukkan modal sosial mempunyai pengaruh penting terhadap tingkat daya saing sesebuah firma.
Kata kunci: Modal sosial; pengusaha bumiputera Melayu; dan daya saing firma.

Pemodelan Regresi antara Kemalangan Jalan Raya Dengan Isipadu Trafik, Persimpangan, Lampu Isyarat dan Waktu Kejadian
Rohaiza Zakaria & Yuhaniz Ahmad
Fakulti Sains Kuantitatif
Universiti Utara Malaysia
Abstract Ɩ  Full Text
Kajian ini membincangkan hubung kait antara bilangan kemalangan jalan raya di sebuah daerah di Negeri Kedah, Malaysia dengan isipadu trafik, persimpangan, lampu isyarat dan waktu kejadian. Jenis jalan bersimpang yang dipertimbangkan dalam kajian ini adalah simpang tiga dan simpang empat, sama ada yang berlampu isyarat atau tidak. Manakala waktu kejadian merujuk kepada waktu sibuk dan waktu tidak sibuk. Ujian nisbah kebolehjadian membuktikan bahawa model regresi Binomial Negatif merupakan model terbaik untuk disesuaikan kepada data kemalangan yang ada. Model regresi yang dibentuk merujuk kepada kemalangan yang berlaku di sekitar setiap stesen pengumpulan isipadu trafik dalam daerah kajian.
Kata kunci: Kemalangan jalan raya; isipadu trafik; persimpangan; lampu isyarat, waktu kejadian dan regresi Binomial Negatif.

Integrasi Pasaran-Pasaran Saham di Rantau APEC: Satu Kajian Empirikal
Hooy Chee Wooi
Sekolah Pengurusan
Universiti  Sains Malaysia
Abstract Ɩ Full Text
Artikel ini mengkaji proses sebut harga pasaran-pasaran saham di negaranegara rantau APEC dengan mempertimbangkan pengaruh faktor blok perdagangan. Penemuan utama kajian ini ialah: Pertama, faktor-faktor blok perdagangan didapati signifikan dan mempertingkatkan kuasa penjelasan Model Sebut Harga Aset Modal Antarabangsa (International Capital Asset Pricing Model), ICAPM; Kedua, dengan menggunakan APEC sebagai platform, artikel ini menunjukkan bahawa pasaran-pasaran bagi Negara membangun didapati lebih sensitif dengan pasaran dunia; Ketiga, sebut harga bagi blok-blok perdagangan yang lain didapati tidak mempunyai pengaruh yang kuat. Sumbangan artikel ini adalah memberi penerangan baru kenapa pasaranpasaran saham bagi negara-negara membangun tidak berintegrasi sangat dengan pasaran dunia; disebabkan mereka lebih integrasi dengan pasaranpasaran saham di blok perdagangan sendiri.
Kata Kunci: Integrasi pasaran saham; blok perdagangan; ICAPM; GARCH.

Amalan Pengambilan dan Pemilihan Pekerja: Tinjauan ke atas Firma Terpilih di Sektor Perkilangan
Zafir Mohamed Makhbul
Fakulti Ekonomi dan Perniagaan
Universiti Kebangsaan Malaysia
Fazilah Mohamad Hasun
Fakulti Pengurusan dan Muamalah
Kolej Universiti Islam Antarabangsa Selangor
Abstract Ɩ Full Text
Tinjauan ini bertujuan untuk mengetahui amalan pengambilan dan pemilihan pekerja di firma terpilih di sektor perkilangan elektronik di Selangor. Kajian ini turut melihat kepentingan beberapa kriteria yang telah dikenal pasti dalam pemilihan pekerja peringkat pengurusan untuk mendapatkan pekerja yang berkualiti. Lima puluh tujuh set soal selidik telah diterima daripada 150 yang telah diposkan kepada firma-firma tersebut di seluruh negeri Selangor. Responden kajian merupakan pengurus/pegawai di Jabatan Sumber Manusia setiap firma yang dipilih. Analisis data secara diskriptif memberi gambaran ringkas tentang amalan pengambilan dan pemilihan pekerja di sector perkilangan elektronik. Penemuan tinjauan ini juga menunjukkan bahawa kriteria pengalaman merupakan perkara yang amat dipentingkan dalam pemilihan pekerja peringkat pengurusan. Di samping itu, faktor keterampilan, demografi (jantina dan kelayakan akademik) dan personaliti merupakan antara kriteria yang turut diambil kira dalam pemilihan pekerja peringkat pengurusan.

Kepentingan Beberapa Pasaran Utama Negara ASEAN Kepada Pembangunan Industri Pelancongan Malaysia
Redzuan Othman & Norlida Hanim Mohd Salleh
Fakulti Ekonomi dan Perniagaan
Universiti Kebangsaan Malaysia
Abstract Ɩ  Full Text
Satu ciri penting industri pelancongan Malaysia ialah kemasukan pelancong antarabangsa dan sebahagian besarnya adalah daripada negara ASEAN. Pada tahun 1985 misalnya pelancong dari negara ASEAN menyumbang 75% daripada jumlah ketibaan pelancong ke negara ini. Tahun 2000 mencatatkan pengurangan iaitu 68% dan kembali meningkat kepada 75% pada tahun 2004. Penyumbang utama ketibaan ini didahului oleh negara Singapura, diikuti oleh Thailand dan Indonesia (dinamakan ASEAN3). Ketiga-tiga negara ini menguasai lebih 95% daripada jumlah ketibaan pelancong daripada rantau ASEAN keseluruhannya. Pada tahun 2004, sejumlah 97% daripada keseluruhan ketibaan pelancong ASEAN datangnya daripada ASEAN3 ini. Memandangkan kepentingan ASEAN3 ini dalam membantu membangunkan industri pelancongan negara, kajian ini dilakukan untuk membincangkan faktor-faktor utama yang menggalakkan kemasukan mereka ke negara ini. Faktor penting yang dijangka mempengaruhi kemasukan mereka ialah kos semasa melancong di Malaysia, pendapatan pelancong, destinasi alternatif, krisis ekonomi global dan alam sekitar serta kempen penggalakan kerajaan untuk melawat Malaysia. Kajian ini menganggarkan kepentingan faktor ini dengan menggunakan kerangka kointegrasi Engle-Granger. Hasil kajian mendapati kebanyakan pemboleh ubah yang digunakan adalah signifikan secara statistik dan selari dengan teori ekonomi.
Kata kunci: Pelancongan ASEAN; Profil pelancong; Punca Unit;Kointegrasi; Engle-Granger.

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