scholarly journals The Empirical Study on Market Liquidity and Determinants of Sukuk in Malaysia

2018 ◽  
Vol 2 (3) ◽  
pp. 4-15
Author(s):  
Norshafizah Hanafi ◽  
Amirul Hamiza Abdul Hamid ◽  
Jasmani Mohd Yunus
Keyword(s):  
Secondary Data ◽  
Secondary Market ◽  
Market Liquidity ◽  
Yield Spread ◽  
Price Determination ◽  
Determination Process ◽  
Asset Backed Securities ◽  
The Right ◽  
The Impact ◽  
The Relationship

The purpose of this study is to examine the relationship between market liquidity and the determinants of Sukuk in Malaysia’s perspective. This study is also to determine whether the Sukuk market is also reacting as similar to the bond market regarding market liquidity. A sample of 933 issued Sukuk in Malaysia is collected from secondary data of Bond Pricing of Agency Malaysia (BPAM) and Bond Info hub of Bank Negara Malaysia from the period of 2005 to 2015. The sample of issued Sukuk is based on Malaysian Ringgit denominated currency and these Sukuk are actively traded in the secondary market of Malaysia. The sample comprises five (5) sectors inclusive government, quasi-government, finance; Asset-Backed Securities (ABS) and corporates. Market Microstructure Theory is using on the impact of numerous market frictions in the market structure and individual behaviour during the price determination process in this study. The empirical results of this study show that age and maturity have a positive relationship with Sukuk market liquidity and they are significantly correlated. The findings of this study could assist investors in the making decision by choosing the right type of Sukuk structure and by utilising the suitable Sukuk determinants at the right time. From the analysis, the researcher concludes that investors prefer to hold their securities until meeting its maturity rather than traded it in the secondary market. Further research should be done by incorporating other liquidity factors such as the liquidity risk, yield spread and price in order to have more input to the study on liquidity since the Sukuk market is increasing in demand and becomes more sophisticated as the financial market is moving towards digitalisation and electrification.

scholarly journals Secondary Market Liquidity and Primary Market Pricing of Corporate Bonds

2019 ◽  
Vol 12 (2) ◽  
pp. 86 ◽  
Author(s):  
Michael A. Goldstein ◽  
Edith S. Hotchkiss ◽  
David J. Pedersen
Keyword(s):  
Asset Prices ◽  
Cost Of Capital ◽  
Secondary Market ◽  
Market Liquidity ◽  
Corporate Bond ◽  
Yield Spread ◽  
Market Pricing ◽  
Yield Spreads ◽  
Ex Ante ◽  
The Impact

This paper studies the link between secondary market liquidity for a corporate bond and the bond’s yield spread at issuance. Using ex-ante measures of expected liquidity at the time of issuance, based on the characteristics of the underwriting syndicate, we find an economically large impact of liquidity on yield spreads. We estimate that a 10% increase in expected liquidity implies a decrease in the yield spread at issuance of between 8% and 14%. Our results suggest that liquidity has an important effect on firms’ cost of capital, and they contribute to the literature which examines the impact of liquidity on asset prices.

scholarly journals The Impact of Alkaloid-Producing Epichloë Endophyte on Forage Ryegrass Breeding: A New Zealand Perspective

Toxins ◽  
2021 ◽  
Vol 13 (2) ◽  
pp. 158
Author(s):  
Colin Eady
Keyword(s):  
Seed Production ◽  
Health Issues ◽  
Abiotic Stressors ◽  
Livestock Health ◽  
The Right ◽  
The Impact ◽  
The Relationship ◽  
And Storage ◽  
Selection Of ◽  
Epichloë Endophyte

For 30 years, forage ryegrass breeding has known that the germplasm may contain a maternally inherited symbiotic Epichloë endophyte. These endophytes produce a suite of secondary alkaloid compounds, dependent upon strain. Many produce ergot and other alkaloids, which are associated with both insect deterrence and livestock health issues. The levels of alkaloids and other endophyte characteristics are influenced by strain, host germplasm, and environmental conditions. Some strains in the right host germplasm can confer an advantage over biotic and abiotic stressors, thus acting as a maternally inherited desirable ‘trait’. Through seed production, these mutualistic endophytes do not transmit into 100% of the crop seed and are less vigorous than the grass seed itself. This causes stability and longevity issues for seed production and storage should the ‘trait’ be desired in the germplasm. This makes understanding the precise nature of the relationship vitally important to the plant breeder. These Epichloë endophytes cannot be ‘bred’ in the conventional sense, as they are asexual. Instead, the breeder may modulate endophyte characteristics through selection of host germplasm, a sort of breeding by proxy. This article explores, from a forage seed company perspective, the issues that endophyte characteristics and breeding them by proxy have on ryegrass breeding, and outlines the methods used to assess the ‘trait’, and the application of these through the breeding, production, and deployment processes. Finally, this article investigates opportunities for enhancing the utilisation of alkaloid-producing endophytes within pastures, with a focus on balancing alkaloid levels to further enhance pest deterrence and improving livestock outcomes.

scholarly journals The Lagged Effect of Advertising Expenditures on the Financial Measures of Brand Equity in the Egyptian Context

2021 ◽  
Vol 04 (09) ◽  
Author(s):  
Nermin M. Gohar
Keyword(s):  
Brand Equity ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Reports ◽  
Financial Measures ◽  
The Impact ◽  
Corporate Brands ◽  
The Relationship ◽  
Egyptian Stock Exchange

This research intends to fill the gap in the literature by studying the impact of lagged real advertising expenditures on different perspectives of brand equity in the Egyptian context, which are: Firm-based and Market-based brand equity. The research follows the quantitative research-based approach, with the descriptive explanatory method. Secondary data was collected from firms’ financial reports of sixteen sectors for the period 2013 - 2020 to consider the effect of real advertising expenditures on firm-based and market-based brand equity models. Data was collected from 168 listed companies in the Egyptian stock exchange market, after deleting the financial institutions. The unit of analysis was the corporate brands and data collected was panel data analyzed using Eviews program – version 10, using GLS regression. Results showed that market risk significantly moderates the relationship between advertising expenditures and Firm-based and Market-based brand equity.

scholarly journals Dua Sisi Gelap Covid-19 : Dilematis Antara Keterbukaan Data Identitas Penderita Covid-19 Dan Transparansi Data Publik Dalam Rangka Menekan Stigmatisasi

2021 ◽  
Vol 1 (2) ◽  
pp. 73-85
Author(s):  
Yohanes Firmansyah ◽  
Imam Haryanto
Keyword(s):  
Information Disclosure ◽  
Human Life ◽  
Psychological Impact ◽  
Health Economy ◽  
Privacy Rights ◽  
Right To Privacy ◽  
The Right To Privacy ◽  
The Right ◽  
The Impact ◽  
The Relationship

The Covid-19 case has had a huge influence on all aspects of human life, starting from health, economy, sosial, law, and many more. The COVID-19 pandemic has caused various frictions between various interests, one of which is a clash between individual interests and community interests. One of the obvious things about this problem is regarding the impact of COVID-19 in the field of sociology, especially the relationship between individuals, especially the issue of community stigmatization regarding infectious diseases, the dilemma between the privacy rights of the identity of COVID-19 patients and the disclosure of publik data on COVID-19 patients with various risks will injure and cause multiple material and immaterial losses. On the other hand, Covid-19 also raises various sosial-psychological problems and legal problems that still do not regulate all aspects of human life. This paper describes the sociological elements of COVID-19, the right to privacy, publik information disclosure, and the sosial-psychological impact of COVID-19, along with a juridical review of the right to privacy and publik disclosure of information regarding the transparency of COVID-19.

scholarly journals The impact of globalization on Workers: an Analysis of Nigerian Public Service

2018 ◽  
Vol 7 (3.30) ◽  
pp. 480
Author(s):  
Aminu Mohammed Lawan ◽  
Razlini Mohd Ramli
Keyword(s):  
Information And Communication Technology ◽  
Communication Technology ◽  
Public Service ◽  
Secondary Data ◽  
The Public ◽  
Public Corporations ◽  
Public Servant ◽  
Information And Communication ◽  
The Right ◽  
The Impact

Globalization is the increasing interaction of peoples, states or countries through the growth of the global trade, international flow of capital, ideas and culture. The paper discusses how privatization of public corporations and invention of information and communication technology (ICT) lead to the retrenchment and casualization of public servant. The aim of this study is to examines the impact of globalization on the public servant in Nigeria. The methodology involves the use of secondary data, through a systematic literature review which entails the document analysis of related matters. The findings reveal that globalization infringes on the right of a public servant by making them vulnerable without job security. The paper concludes that government must stop unfair labor practice such as retrenchment and casualization of workers, and improve good working conditions to make public servant more productive. 

scholarly journals Perkawinan Beda Agama Dalam Undang-Undang Nomor 23 Tahun 2006 Tentang Administrasi Kependudukan (Tinjauan Hukum Islam)

2020 ◽  
Vol 20 (2) ◽  
pp. 138
Author(s):  
Fakhrurrazi M.Yunus ◽  
Zahratul Aini
Keyword(s):  
Research Method ◽  
Islamic Law ◽  
The Family ◽  
The Law ◽  
Negative Impacts ◽  
The Right ◽  
The Impact ◽  
The Relationship

Abstrak: Dalam Undang-Undang Nomor 23 Tahun 2006 tentang Administrasi Kependudukan adanya Pasal yang mengatur tentang perkawinan beda agama, dalam Pasal 35 huruf (a) yang menyatakan bahwa perkawinan yang ditetapkan oleh pengadilan. Namun dalam Undang-Undang tersebut tidak diatur secara jelas, sehingga memberi peluang timbulnya dampak negatif. Namun yang diakui di Indonesia jika pasangan suami istri yang berbeda agama harus memeluk agama yang sama di salah satu pasangan dengan maksud mereka harus pindah agama baik memeluk agama istri maupun suami. Dengan adanya berbagai kemudharatan yang timbul, maka hal itu tidak sesuai dengan hukum Islam. Oleh karena itu, penulis ingin mengetahui dampak perkawinan beda agama yang diatur dalam Undang-Undang Nomor 23 Tahun 2006 tentang administrasi  kependudukan dan tinjuan hukum Islam terhadap perkawinan beda agama dalam Undang-Undang Nomor 23 tahun 2006. Dalam penelitian ini, metode penelitian yang digunakan adalah Kualitatif. Berdasarkan dari hasil penelitian, dampak dari perkawinan beda agama yaitu dampak terhadap rumah tangga yang tidak harmonis menimbulkan kegelisahan, dan sulitnya berkomunikasi. Dampak terhadap anak yang membuat hubungan antara keluarga yaitu anak dan orang tua menjadi kacau dan tidak utuh karena mengetahui kedua orang tuanya berbeda keyakinan. Dampak terhadap harta warisan yang mengakibatkan anak yang lahir dari perkawinan beda agama tidak mempunyai hak untuk mendapatkan harta warisan apabila tidak seagama dengan pewaris yang dalam hal ini pewaris beragama Islam. Adapun tinjauan hukum Islam menyatakan bahwa perkawinan beda agama itu tidak sah, karena menurut fatwa MUI Nomor:4/MUNASVII/MUI/8/2005 menetapkan bahwa nikah beda agama hukumnya haram yang diperkuat dengan firmannya dalam surat al-mumtahanah ayat 10 dan al-baqarah ayat 221.Abstract: in Law No. 23 of 2006 on the administration of the population of the article governing the marriage of different religions, in article 35 letter (a) stating that the marriage is established by the court. But the law is not regulated, so it allows causing negative impacts. But it is recognized in Indonesia if different couples of religion must embrace the same religion in one partner with the intention they have to move religion both embrace the religion of the wife and husband. With the various blessings that arise, it is not under Islamic law. Therefore, the author wants to know the impact of the marriage of different religions organized in law Number 23 the year 2006 about the administration of population and the Islamic law to the marriage of different religions in the law Number 23 the year 2006. In this study, the research method used was qualitative. Based on the results of the study, the impact of the marriage of different religions is the impact on the unharmonious households raises anxiety, and difficulty communicating. The impact on the child who makes the relationship between the family is the child and the parent becomes chaotic and not intact because knowing both parents are different beliefs. The impact on the inheritance that resulted in children born from the marriage of different religions does not have the right to obtain inheritance if not as religious as the heir, in this case, Muslim heirs. The review of Islamic law states that the marriage of different religions is not valid, because according to fatwa MUI number: 4/MUNASVII/MUI/8/2005 stipulates that the marriage of different religious religion is haram strengthened by his word in Sura al-Mumtahanah verse 10 and al-Baqarah verses 221.

Growth of Capital Market in Nepal: Impact on Capitalization, GDP and NEPSE Index

2020 ◽  
Vol 11 ◽  
pp. 66-83
Author(s):  
Dhan Raj Chalise
Keyword(s):  
Capital Market ◽  
Significant Contribution ◽  
Positive Impact ◽  
Stock Exchange ◽  
Secondary Data ◽  
Secondary Market ◽  
Financial Resources ◽  
Descriptive Research ◽  
The Impact ◽  
The Capital Market

The capital market plays an importance role in an economy and provides the opportunity to the investor for the mobilization and channelization of funds. Nepalese capital market is in growing and improving phase. The objective of this study is to analyze the evaluation of the existing status of the capital market in term of its composition of types of the capital market and to examine the impact of capital mobilization in Gross Domestic Product (GDP) and to examine the contribution of capital market in financial resources and GDP. Besides, the study examines the share transaction in Nepal Stock Exchange (NEPSE) and its impact on NEPSE Index. The study period of 2000/01 to 2018/19 has been used for study purposes. Through the use of descriptive research design, the trends of capital market development track after 2000/01 to present status has been presented. Secondary data are analyzed through the use of regression and other descriptive statists to convert the information into data. The result indicates that the ordinary shares in the primary capital market and market capitalization in the secondary market has significant contribution for the capital market in Nepal. Also, the study reveals that there is a significant and positive impact of capital mobilization on GDP and the number of share transactions on the NEPSE Index in the Nepalese capital market. Hence there is a significant contribution of the capital market for financial resources mobilization and GDP of Nepal. The study reports for modernization and systematization of the capital market need more optimal efforts from concerned stakeholders.

A Comparative Analysis of Drivers of Secondary Market Liquidity in Financial Markets for Investment Analysis

2019 ◽  
pp. 340-366
Author(s):  
Hakki Karatas ◽  
Nildag Basak Ceylan ◽  
Ayhan Kapusuzoglu
Keyword(s):  
Comparative Analysis ◽  
Stock Markets ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Bond Market ◽  
Secondary Market ◽  
Market Liquidity ◽  
Investment Analysis ◽  
Secondary Bond ◽  
The Impact

The purpose of this chapter is to examine the drivers of secondary bond market and stock market liquidity for investment analysis after global financial crisis in Turkey. The literature in Turkey mainly focuses only on the volatility of return for driving liquidity in both bond and stock markets. However, it is argued that other types of volatilities including domestic and international volatilities have also a deteriorating impact on secondary market liquidity in Turkey. In this context, it is empirically tested whether the volatility and/or uncertainty that stem from the FED and ECB policies within the last 10 years had a negative impact on liquidity both in government bond and stock markets. Moreover, the impact of non-residents in bond and stock markets on secondary market liquidity is examined by including their holdings in stock and bond market.

scholarly journals MAKNA TARI PEGAWAI DALAM PESTA PERKAWINAN DI KAMPUNG HULU PASA MALINTANG NAGARI INDERAPURA TENGAH KECAMATAN PANCUNG SOAL KABUPATEN PESISIR SELATAN

2020 ◽  
Vol 9 (2) ◽  
pp. 10
Author(s):  
Febri Susanti ◽  
Nerosti Nerosti
Keyword(s):  
Secondary Data ◽  
Data Types ◽  
Left Turn ◽  
Domestic Relations ◽  
Life Values ◽  
Main Instrument ◽  
The Right ◽  
The Village ◽  
The Relationship ◽  
Descriptive Method

This research aims to reveal and discuss the Meaning of Pegawai Dance in a Marriage Party in the Kampung Hulu Pasa Malintang, Nagari Inderapura Tengah, Pancung Soal, Pesisir Selatan District. This research is a qualitative research using analytical descriptive method. The Main Instrument was the researcher itself with primary and secondary data types. The data collection techniques were literature review, observation, interview and documentation. The object of research was the Pegawai Dance in KampungHuluPasaMalintang, Nagari Inderapura Tengah, Pancung Soal, Pesisir Selatan District. The results of this study indicate that the meaning of Pegawai Dance in a marriage party in the village of Kampung Hulu Pasa Malintang Nagari Inderapura Tengah can be analyzed from three aspects: (1) Bride and groom who stand at the aisle, in their own positions, holding a shawl that forms a swing. The shawl is tied in both thumbs of the bride and the groom. This means that both are ready to tie the relationship as a husband and wife and hope to get a good offspring.(2) Dancers who move (a) LangkahPanjang (long steps)means to see the bride and groom's descendants. (b) SeroangKanan (a right turn)means to seethe swingto keep it not to tilt so the bride is more careful and maintains domestic relations. (c)Seroang Kiri (a left turn) has the same meaning as the right one.(d) Ninjau (a review) meansto keep the position of the swing to be always in the middle so that the bride and groom work together and help each otherin difficulties and happiness as well as complement each other. (3) From the music lyric, it contains parents' prayers for their children so they can live a good marriage life and are blessed by God. Generally, the performance of the Pegawai Dance at a wedding can be seen as a manifestation of life values about responsibility and cooperation in carrying out the household ark, including giving a gala (a title) to the groom to equalize his status with the bride's so that he is respected by the bride familyKeywords: meaning, dance officer, wedding party

scholarly journals Rapunzel In Developing Economy: A Study About Relationship Between Globalization And Women Workforce Issues In Pakistan

2015 ◽  
Vol 10 (1) ◽  
pp. 225-238
Author(s):  
Roohi Mumtaz ◽  
Syed Shabib ul Hasan ◽  
Afsheen Nizam ◽  
Saima Akhter
Keyword(s):  
Gender Discrimination ◽  
Third World ◽  
Work Force ◽  
Double Standards ◽  
Female Labour ◽  
The People ◽  
And Performance ◽  
The Right ◽  
The Impact ◽  
The Relationship

As the globalization is bringing change in the business scenarios, there is a need to bring change in the mindset, beliefs, attitude and performance to bring change in the lives of the people. By definition globalization is the multifaceted financial, supporting, civilizing and the geographical development through which the flow of money, companies, innovative approach, talks and the employees have taken a transitional change. Women in third world economies are generally confined under social, cultural, religious and economic boundaries where they are not be allowed to utilize their true potentials and prosper. Under such suppression, businesses mostly prefer female labour, as they remain cheaper and obedient. The paper focuses on the relationship between globalization and the women work force issues in Pakistan. The study also highlights the impact of discriminatory acts like gender discrimination, gender employment segregation and financial biasness in Pakistani society. The findings reveal that discrimination and double standards in the society for women is very common and prevail, more obviously in Pakistan. There is a need to eliminate all the discriminatory elements from the mindset by taking visionary steps in the right direction.

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