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International Journal of Management Studies (IJMS) Vol. 17, No.2 December 2010

Microfinance and Mechanism Design: The Role of Joint Liability and Cross-Reporting
Zulkefly Abdul Karim
Faculty of Economic and Business
Universiti Kebangsaan Malaysia
 
Abstract Ɩ Full Text
Since the establishment of Grameen Bank in 1976 by Professor MuhammadYunus1, many economists have studied extensively, either theoretically or empirically, the success of the Grameen Bank in eradicating the poverty problem in Bangladesh. Therefore, this paper aims to apply the mechanism design theory in microfinance by examining the role of joint liability and cross reporting mechanism in the loan contract which is designed by microfinance lender. In doing so, this study simplified the joint liability mechanism proposed by Ghatak (1999, 2000) and cross-reporting mechanism by Rai and Sjostrom (2004). Based on the joint-liability mechanism, it is clearly stated that the microfinance lender can minimise or avoid the adverse selection problem in the credit market through peer selection and peer screening. In the meantime, the joint liability mechanism is better than individual lending in terms of increasing the social welfare among the poor borrower, charging lower interest rates, and generating high repayment rates. In contrast, Rai and Sjostrom (2004) argued that joint liability alone is not enough to efficiently induce borrowers to help each other. Indeed, the cross-reporting mechanism is also important for lenders in order to minimise the problem of asymmetric information in the credit market. The cross-reporting mechanism is also efficient because it can influence the borrower to be truthful-telling about the state of the project and subsequently can minimise the deadweight loss (punishment) among the borrowers. In comparison, without cross reporting, the lending mechanism is inefficient because the borrower will be imposed harsh punishment from the bank and the bank can undertake auditing or verify the state of the project and punish accordingly.
 
Keywords: Microfinance; mechanism design; joint liability; cross-reporting.
 

 
Is Inflation Regressive or Progressive? Long Run & Short Run Evidence from Pakistan
Muhammad Shahbaz
COMSATS Institute of Information Technology, Pakistan
 
Abu N. M. Wahid
Tennessee State University, USA
Rukhsana Kalim
University of Management and Technology, Pakistan
 
Abstract Ɩ Full Text
The present paper investigates an answer to a key question “is inflation regressive or progressive?” by utilizing time series data from 1971 up to 2005 with reference to Pakistan. The main focus of the study is on the inflation-inequality puzzle but other control variables are also included in the model that affect income distribution. We have utilized the most advanced technique FMOLS (Fully-Modified Ordinary Least Square) for long run and ECM (Error Correction Model) for short run dynamics. Our findings suggest that inflation is progressive in the case of Pakistan but with low magnitude. There is also a prevalence of a U-shaped relationship between inflation and income inequality in non-linear or non-monotonic phenomenon, but it is insignificant. Per capita income deteriorates income distribution, and seems to provide gains to non-poor individuals in the economy. Remittances as share of GDP, and human capital, also appear to increase income inequality in both periods but large size of the government seems to worsen income distribution in the long run. International trade and income inequality are positively correlated that confirms the existence of Leontief paradox in Pakistan not only in short run, but also in long run. Financial development declines income inequality insignificantly. Inverted U-shaped curve (Lafer-Curve) indicates an association of trade and income inequality in non-linear fashion insignificantly. This effort provides some new insights for policy makers and development planners in Pakistan.
 
Keywords: Inflation; inequality; fully modifed ordinary least square; Pakistan.
JEL Classification: E31, D31, C32.
 

 
Drivers of Efficient Service Delivery and Caller Satisfaction: A Model of CRM Customer Contact Centres in Malaysia
Aliyu Olayemi Abdullateef, Sany Sanuri Mohd Mokhtar & Rushami Zien Yusuf
UUM College of Business
Universiti Utara Malaysia
 
Abstract Ɩ Full Text
The benefits of CRM projects on business development has been a subject of discussion globally since 1990s. Evidence from different literature had equally established that there has been an increase in the attention paid to CRM by researchers, but to date, not much attempt has been made to develop a valid framework upon which the impact of CRM projects on the drivers of efficient service delivery and caller satisfaction in customer contact centre industry. This paper proposes a conceptual framework for measuring the drivers of efficient service delivery and caller satisfaction in customer contact centre. Given the need for more information that will assist in developing a viable theoretical framework for investigating service delivery in CRM contact centres, an exploratory pilot interview was conducted in four internationally recognised CRM customer contact centres that are based in Malaysia. The current results revealed a total of four major drivers of efficient service delivery (client factors, technology, process, and people), plus first call resolution as the determinant of caller satisfaction. Necessary recommendations as a guide for future research are also suggested.
 
Keywords: Customer relationship management (CRM); service delivery; caller satisfaction; contact centre.
 

Inflation in Malaysia
Wong Hock Tsen
School of Business and Economics
Universiti Malaysia Sabah
 
Abstract Ɩ Full Text
This study examines the determination of inflation in Malaysia. The results of the generalised forecast error variance decomposition show that real import price change is the most important factor in the determination of inflation. The impact of real oil price change on inflation is marginal. An increase in real oil price has a more significant impact on inflation than a decrease in real oil price. The results of the generalised impulse response function show the impact of variables examined on inflation is relatively short. There is evidence that real oil price change Granger causes inflation.
 
Keywords: Inflation; Malaysia; cointegration; generalised forecast error variance decomposition; generalised impulse response function.
 
Teachers’ Engagement in Workplace Learning Activities: Validation of a Measure
Tengku Faekah Tengku Ariffin & Rosna Awang Hashim
UUM College of Arts and Sciences
Universiti Utara Malaysia
 
Abstract Ɩ Full Text
Quantitative research into the topic of workplace learning among teachers has been limited due to the lack of measures that are applicable to the educational settings. In this study, items measuring teachers’ engagement in workplace learning activities were generated through literature review and discussions with schoolteachers; selected by the authors; and then tested in a field study. The sample involved a total of 500 schoolteachers, selected through a multistage cluster sampling procedure. Exploratory and confirmatory factor analyses were used to test the hypothesised two-dimensional model for the construct of engagement in workplace learning activities. Results indicated that the proposed model acceptably fits the data and the loadings were all significant at p<.05, thus lending evidence for the construct validity of the instrument. Implications for the use of this scale in future workplace learning research, particularly in the educational settings, are discussed.
 
Keywords: Instrument validation; schoolteachers; workplace learning.
 

 
Holding CEOs Accountable: Improving Compensation Structure
Hung W Chu
School of Business
Manhatt an College, Bronx, New York
 
Abstract Ɩ Full Text
This paper presents three different hypotheses that attempt to explain the CEO compensation structure and the optimal contract, managerial power, and tournament system hypotheses. Using knowledge gained from these three hypotheses, a brief analysis of the reasons the government needs to be involved in regulating the CEO compensation structure follows. The paper ends with a proposal to regulate the compensation structure and addresses various potential objections to government regulation.
 
Keywords: Executive compensation; optimal contracting; managerial power; tournament system.
 

 
Young Adults’ Susceptibility to Interpersonal Influence: A Case of Apparel Purchases
Weng Marc Lim & Ding Hooi Ting
School of Business
Monash University
 
Abstract Ɩ Full Text
Purpose: This paper focuses on consumers’ susceptibility to interpersonal influence of young adults in the clothing apparels’ market in Malaysia. The researchers sought to clarify the relationship between interpersonal influences and young adults’ purchase decision, and the moderating impact of gender towards the relationship.
 
Design/methodology/approach: This study is exploratory in nature and adopts a quantitative approach. Primary data were obtained from young adults in Klang Valley (Malaysia) using mall intercept, by using 300 questionnaires were administrated using a multi-stage probability sampling technique to young adults between 19 to 30 years old.
 
Findings: Findings showed that value expressive, utilitarian, information, and brand consciousness influences were positively related to purchase decision. There are differences between genders toward the strength of interpersonal influence resulting in variation in their purchase decision.
 
Research limitations/implications: Different strategies should be designed to cater to both informational and brand consciousness influences between genders.
 
Originality/value: Marketers will be able to understand the importance of identifying the different susceptibility factors and gender attribute in their attempt to design different marketing strategies to attract customers.
 
Keywords: Interpersonal influence; value expressive; utilitarian; information; brand consciousness.
 

 
Human Resource Retention Practices From The Faculty’s Perspective: Case for a Private University In Bangladesh
Mohammad A. Ashraf & Mohd. H. R. Joarder
School of Business
United International University, Bangladesh
 
Abstract Ɩ Full Text
Human resources and personnel management is one of the burning issues today. Employee retention is thus being considered as one of the core challenges faced by many organisations especially in the private sector of the economy. In this research, a conceptual model was developed and applied in the context of the faculty retention policy of a private university in Bangladesh. The study was conducted in 2008 by collecting 54 data which were employed primarily to evaluate the current human capital retention practices of the university from the faculties’ point of view. The research identified the core elements of human resource practices, which strongly influence the decision of faculty members to remain in the organisation. Several statistical analytical techniques such as Factor Analysis, Multiple Regression Analysis, ANOVA, and correlation analyses have been used to measure the level of incentives of the faculties rendered by the concerned university. The result showed that university culture and policies, work environment, teamwork relationship, and challenging opportunities are significantly related with the faculty retention policies practised by the university.
 
Keywords: Human resource management; faculty retention; private university; influencing factors.
 

 
Pembiayaan Ekuiti Musyarakah Mutanaqisah (MMQ): Perubahan Daripada Al-Bai’ Bithaman Ajil (BBA) Berasaskan Pengalaman Teras Dara Consortium (TDC)
Sanep Ahmad
Fakulti Ekonomi dan Pengurusan
Universiti Kebangsaan Malaysia
 
Nora Yusma Mohamed Yusop
Pengajian Pengurusan Perniagaan dan Perakaunan
Universiti Tenaga Nasional
 
Abstrak Ɩ Full Text
Sistem perbankan Islam adalah satu sistem yang menekankan keadilan berdasarkan konsep perkongsian keuntungan. Malangnya kebanyakan produk pembiayaan perbankan Islam masa kini adalah pembiayaan-hutang yang bercanggah dengan dasar keadilan perbankan Islam. Lantaran itu perbankan Islam perlu meningkatkan produk pembiayaan yang bercirikan keadilan berdasarkan pembiayaan-ekuiti. Sehubungan itu makalah ini cuba menerokai kemungkinan bagaimana pembiayaan-hutang boleh diubahsuai kepada pembiayaan-ekuiti. Pengubahsuaian akan dilakukan ke atas Bai’ Bithaman Ajil (BBA) memandangkan kaedah BBA merupakan kaedah yang paling banyak diamalkan pada masa kini. Analisis ubahsuai dilakukan secara teori daripada konsep murabahah dalam BBA kepada konsep musyarakah mutanaqisah (MMQ), manakala bukti empirikal dilakukan berasaskan kepada pengalaman Teras Dara Consortium (TDC). Kajian mendapati bahawa konsep pembiayaan-hutang dalam BBA boleh diubahsuai kepada pembiayaan-ekuiti berkonsepkan MMQ. Pengalaman TDC membuktikan bahawa pengamalan konsep ini tetap mendatangkan keuntungan, dapat mempercepatkan unit jualan, dapat menambah penyertaan golongan berpendapatan rendah dan dapat mengubah motif pembiayaan daripada keuntungan kepada kebajikan. Implikasinya ialah perubahan sedemikian dapat meningkatkan fungsi sebenar perbankan Islam serta dapat meningkatkan taraf kebajikan masyarakat.
 
Kata kunci: Musyarakah Mutanaqisah (MMQ); Bai’ Bithaman Ajil (BBA); pembiayaan asas hutang; pembiayaan asas ekuiti.
 

 
Model Pemprosesan Maklumat Kognitif dan Pembuatan Keputusan: Teori dan Amalan dalam Sistem Penilaian Prestasi Pekerja Sektor Awam di Malaysia
Rusli Ahmad
Fakulti Sains Kognitif dan Pembangunan Manusia
Universiti Malaysia Sarawak
 
Abstract Ɩ Full Text
Kajian ini bertujuan untuk melihat kaitan amalan pembuatan keputusan dengan prestasi pekerja sektor awam di Malaysia dengan memberi perhatian kepada aspek pemprosesan maklumat kognitif. Tumpuan kepada sistem pemprosesan maklumat kognitif yang terlibat secara menyeluruh dibuat memandangkan pentingnya penggunaan maklumat dalam sebarang pembuatan keputusan dan tiada kajian yang komprehensif tentang perkara yang berkaitan dibuat sehingga kini. Penyelidikan yang dijalankan adalah bersifat kuantitatif. Sampel kajian terdiri daripada 199 pegawai penilai prestasi yang dipilih berdasarkan persampelan rawak mudah. Soal selidik yang berkaitan telah dibina dan 155 borang soal selidik yang lengkap telah digunakan untuk tujuan analisis. Hasil kajian menunjukkan tidak terdapat perbezaan yang signifi kan antara pegawai penilai novis dan pakar dalam semua fasa yang terlibat dalam model pemprosesan maklumat kognitif kecuali untuk faktor pemerhatian 1. Ini bermakna tidak terdapat perbezaan yang signifi kan antara pegawai penilai novis dan pakar dalam pelaksanaan pemerhatian, pengkategorian, penyimpanan, pengingatan semula, pengintegrasian dan pembuatan keputusan. Kajian ini penting kepada pembuat dasar, pengamal sumber manusia dan pereka program latihan untuk membaiki aspek pelaksanaan penilaian prestasi yang menjadi amalan penting bagi organisasi. Kajian ini juga membuka ruang kepada pemahaman yang lebih menyeluruh dari segi amalan pembuatan keputusan berkaitan penilaian prestasi pekerja dengan mendekatinya dari aspek kognitif proses yang terlibat. Pemahaman yang lebih mendalam dan menyeluruh ini diharap akan membuka ruang kepada pelaksaaan satu sistem penilaian prestasi yang diterima ramai dan adil.
 
Kata kunci: Pembuatan keputusan; penilaian prestasi; sistem pemprosesan maklumat.
 

 
Kajian Awal Terhadap Kepentingan Item Pelaporan Kewangan Menerusi Internet
Mohd Noor Azli Ali Khan
Fakulti Pengurusan dan Pembangunan Sumber Manusia
Universiti Teknologi Malaysia
Noor Azizi Ismail
UUM College of Business
Universiti Utara Malaysia
 
Abstrak Ɩ Full Text
Makalah ini cuba mengupas isu kepentingan item dalam Pelaporan Kewangan Menerusi Internet (PKMI) dengan mengambil kira pandangan penyedia dan pengguna maklumat kewangan. Perbincangan makalah ini berpandukan kepada dapatan awal kajian tinjauan yang dilakukan bagi mengetahui kepentingan item untuk mengukur tahap PKMI. Kajian tinjauan yang dijalankan menggunakan kaedah soal selidik berasaskan skor wajaran dan telah mendapat maklum balas daripada 36 orang responden. Berdasarkan sorotan karya yang menyeluruh, tahap PKMI dalam kajian ini dibahagikan kepada dua dimensi utama iaitu dimensi kandungan dan dimensi pembentangan. Hasil kajian mendapati bahawa terdapat lima item utama iaitu penyata pendapatan tahun semasa, kunci kira-kira tahun semasa, nota penyata kewangan tahun semasa, penyata pendapatan tahun lepas, dan penyata aliran tunai tahun semasa yang berupaya menggambarkan dimensi kandungan. Seterusnya, bagi dimensi pembentangan terdapat lima item utama iaitu masa muat turun laman web syarikat, pautan kepada laman web, hiperpautan kepada analisis kewangan, hiperpautan ada di dalam laporan tahunan, dan pautan kepada senarai kandungan. Hasil kajian ini penting kerana ianya memberikan input kepada pembuat dasar dan pengubal piawaian perakaunan untuk merangka peraturan berkaitan PKMI dan seterusnya membuka lebih banyak ruang penyelidikan dijalankan dalam bidang ini.
 
Kata kunci: Penyedia; pengguna; item pelaporan; skor wajaran dan pelaporan kewangan menerusi Internet.
 

 
Indeks Modal Sosial dan Agihan Pendapatan di Malaysia
Mohd. Nasir Mohd. Saukani, Rahmah Ismail & Ishak Yussof
Fakulti Ekonomi dan Perniagaan
Universiti Kebangsaan Malaysia
 
Abstract Ɩ Full Text
Makalah ini bertujuan untuk melihat pengaruh modal sosial terhadap agihan pendapatan isi rumah antara wilayah di Malaysia. Modal yang bersifat subjektif dan “intangible” ini dirujuk sebagai “relational embeddedness” yang akan memudahkan kerjasama dilakukan di antara individu atau kumpulan untuk mencapai matlamat tertentu. Pencapaian matlamat ini akan berlaku melalui kombinasi ciri modal sosial, iaitu kepercayaan, jaringan/hubungan dan norma hidup individu atau kumpulan. Analisis dalam makalah ini adalah berdasarkan kepada 4003 isi rumah yang telah ditemu bual pada 2007/2008 di seluruh Semenanjung Malaysia. Melalui pembentukan model dengan menggunakan peratus pendapatan setiap isi rumah sebagai pengukur agihan pendapatan, pengaruh modal social terhadap agihan pendapatan isi rumah akan dianalisis menggunakan indeks modal sosial yang telah dibangunkan. Pemboleh ubah modal manusia seperti tahap pendidikan, latihan, pengalaman kerja dan kesihatan serta demografi dan wilayah juga diambil kira dalam penganggaran model ini. Kajian ini mendapati modal sosial memberi impak yang positif terhadap agihan pendapatan walaupun pengaruhnya lebih kecil berbanding pengaruh modal manusia.
 
Kata kunci: Modal sosial; modal manusia; indeks modal sosial; indeks modal manusia; agihan pendapatan.

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