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BOARD OVERSIGHT AND DIVIDEND POLICIES IN MALAYSIAN SHARIAH-COMPLIANT COMPANIES Jamadar, Yasmin; Tabash, Mosab I.; Hossain, Mohammad Imtiaz; Shahriar, Mohammad Shibli
Journal of Islamic Monetary Economics and Finance Vol 10 No 2 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i2.2066

A stable dividend policy is often in the best interests of both the company and its shareholders. Considering the importance of dividend policy, we examine the determinants of dividend payment in Malaysian Sharia-compliant listed firms and the moderating role of board directors. To this end, we apply a static-panel model using data of Malaysian Shariah-compliant listed firms from 2014 to 2020. We find that ROA (Return on Asset) and Price-Earnings ratio (PER) have a significant positive impact on the dividend payout ratio (DPR). On the other hand, NAV (Net Asset Value) shows a negative and significant relationship with the DPR. Our findings also reveal that the board of directors significantly and positively influence the decision to pay dividends. The findings of the study hold significant importance for corporations in determining a suitable dividend policy that can ensure the sustainability of a consistent dividend payout and ensure their organization's financial stability, particularly in Malaysian-listed Shariah-compliant firms.

PENGARUH AKUNTANSI MANAJEMEN TERHADAP PENGAMBILAN KEPUTUSAN PADA PT. SULTRA KENDARI Suprianto, Hengki; Darmanto, Darmanto; Tabash, Mosab I.; Abdullah, Rudi
AT TARIIZ : Jurnal Ekonomi dan Bisnis Islam Vol 3 No 01 (2024): AT TARIIZ : JURNAL EKONOMI DAN BISNIS ISLAM
Publisher : Pusat Studi Ekonomi, Publikasi Ilmiah dan Pengembangan SDM

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62668/attariiz.v3i01.972

This study aims to analyse the extent of the influence of management accounting on decision making at Bank Sultra Kendari a Branch. Quantitative descriptive methods, data collection using questionnaire techniques, respondent characteristics using classical assumption regression models, research descriptions using simple linear analysis, T test (Persial) and determination coefficient test (R2). The results management accounting variables had an effect on decision making, which was shown by the results of simple linear regression through the T test, where the results of the T test of the management accounting variable (X) tcount value 19.423> ttable value 2.024 with a significance value of 0.0000 which is below 0.05. Then test the hypothesis H1. From the results of the management accounting analysis method, it shows that there is a significant influence on decision making at Bank Sultra Kendari. The coefficient of determination R Square (???? 2) of 0.908 means that the effect of variable Y (decision making) is 90.8%. The remaining 9.2% (100% - 90.8%) is influenced by other unknown factors and is not included in this regression analysis.

PORTFOLIO DIVERSIFICATION OPPORTUNITIES FOR NIGERIA’S ISLAMIC (SHARIAH) STOCK INVESTORS WITH THEIR MAJOR TRADING PARTNERS Abdulkarim, Fatima Muhammad; Ali, Hamisu Sadi; Muye, Ibrahim Muhammad; Tabash, Mosab I.
Journal of Islamic Monetary Economics and Finance Vol 11 No 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2488

This paper investigates potential diversification opportunities for Nigeria’s Islamic stock investors with Nigeria’s top trading partners (France, Spain, United Kingdom and India). It employs daily data of Islamic stock indices, namely Nigeria’s LOTUS Islamic index and FTSE shariah indices of the four countries, from 14 July 2015 to 14 December 2022. Using multivariate GARCH-DCC, we show that Islamic investors from Nigeria have almost no portfolio diversification opportunities in the Islamic stock markets of these countries except for a slight portfolio diversification opportunity found in the UK Islamic stock market for a very short period (one year) and almost none for India, Spain, France. The results from the continuous wavelet transform (CWT) however suggest that diversification opportunities are present in UK, France, Spain and not in India. These findings have important policy implications for policy makers and investors seeking to invest in these countries to be mindful of the appropriate investment timing to minimize potential future losses in investments.

PENGARUH AKUNTANSI MANAJEMEN TERHADAP PENGAMBILAN KEPUTUSAN PADA PT. SULTRA KENDARI Suprianto, Hengki; Darmanto, Darmanto; Tabash, Mosab I.; Abdullah, Rudi
AT TARIIZ : Jurnal Ekonomi dan Bisnis Islam Vol 3 No 01 (2024): AT TARIIZ : JURNAL EKONOMI DAN BISNIS ISLAM
Publisher : Pusat Studi Ekonomi, Publikasi Ilmiah dan Pengembangan SDM

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62668/attariiz.v3i01.972

This study aims to analyse the extent of the influence of management accounting on decision making at Bank Sultra Kendari a Branch. Quantitative descriptive methods, data collection using questionnaire techniques, respondent characteristics using classical assumption regression models, research descriptions using simple linear analysis, T test (Persial) and determination coefficient test (R2). The results management accounting variables had an effect on decision making, which was shown by the results of simple linear regression through the T test, where the results of the T test of the management accounting variable (X) tcount value 19.423> ttable value 2.024 with a significance value of 0.0000 which is below 0.05. Then test the hypothesis H1. From the results of the management accounting analysis method, it shows that there is a significant influence on decision making at Bank Sultra Kendari. The coefficient of determination R Square (???? 2) of 0.908 means that the effect of variable Y (decision making) is 90.8%. The remaining 9.2% (100% - 90.8%) is influenced by other unknown factors and is not included in this regression analysis.

BOARD OVERSIGHT AND DIVIDEND POLICIES IN MALAYSIAN SHARIAH-COMPLIANT COMPANIES Jamadar, Yasmin; Tabash, Mosab I.; Hossain, Mohammad Imtiaz; Shahriar, Mohammad Shibli
Journal of Islamic Monetary Economics and Finance Vol. 10 No. 2 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i2.2066

A stable dividend policy is often in the best interests of both the company and its shareholders. Considering the importance of dividend policy, we examine the determinants of dividend payment in Malaysian Sharia-compliant listed firms and the moderating role of board directors. To this end, we apply a static-panel model using data of Malaysian Shariah-compliant listed firms from 2014 to 2020. We find that ROA (Return on Asset) and Price-Earnings ratio (PER) have a significant positive impact on the dividend payout ratio (DPR). On the other hand, NAV (Net Asset Value) shows a negative and significant relationship with the DPR. Our findings also reveal that the board of directors significantly and positively influence the decision to pay dividends. The findings of the study hold significant importance for corporations in determining a suitable dividend policy that can ensure the sustainability of a consistent dividend payout and ensure their organization's financial stability, particularly in Malaysian-listed Shariah-compliant firms.

PORTFOLIO DIVERSIFICATION OPPORTUNITIES FOR NIGERIA’S ISLAMIC (SHARIAH) STOCK INVESTORS WITH THEIR MAJOR TRADING PARTNERS Abdulkarim, Fatima Muhammad; Ali, Hamisu Sadi; Muye, Ibrahim Muhammad; Tabash, Mosab I.
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2488

This paper investigates potential diversification opportunities for Nigeria’s Islamic stock investors with Nigeria’s top trading partners (France, Spain, United Kingdom and India). It employs daily data of Islamic stock indices, namely Nigeria’s LOTUS Islamic index and FTSE shariah indices of the four countries, from 14 July 2015 to 14 December 2022. Using multivariate GARCH-DCC, we show that Islamic investors from Nigeria have almost no portfolio diversification opportunities in the Islamic stock markets of these countries except for a slight portfolio diversification opportunity found in the UK Islamic stock market for a very short period (one year) and almost none for India, Spain, France. The results from the continuous wavelet transform (CWT) however suggest that diversification opportunities are present in UK, France, Spain and not in India. These findings have important policy implications for policy makers and investors seeking to invest in these countries to be mindful of the appropriate investment timing to minimize potential future losses in investments.

Do Environmental Risks Explain the Sovereign Sukuk Yields in Malaysia? Mohamad Shafi, Roslina; Shaharuddin, Norhasimah; Bakar, Norsaliza Abu; Muhamat, Amirul Afif; Tabash, Mosab I.
The Indonesian Capital Market Review Vol. 17, No. 1
Publisher : UI Scholars Hub

Show Abstract | Download Original | Original Source | Check in Google Scholar

Given the increasing risks posed by environmental degradation, severe climate change, and recent pandemics, the establishment of a sustainable economy has become a priority for numerous nations. From this perspective, it is crucial to emphasize sustainable finance since it has the potential to serve as a vehicle for accomplishing a green economic agenda. Sovereign sukuk held a prominent position in the sukuk market, both domestically and internationally, but its influence was particularly significant inside the domestic sphere. The study seeks to examine the link between environmental risks and the yield performance of sovereign sukuk. Sukuk performed less favourably compared to other asset classes in terms of including environmental risk in the calculation of yield. Therefore, it is crucial to conduct additional investigation into the impact of environmental concerns on sukuk yields. The analysis includes Ordinary Least Squares (OLS) and quantile regression techniques, using data from the period 1990-2021. This study examines the relationship between market variables, environmental risk, and sukuk yields in Malaysia. The paper demonstrates that both market variables and environmental concerns have an impact on the yields of sovereign sukuk. Additionally, it introduces a novel approach for modelling these yields.

Assessing the Impact of COVID-19 on Corporate Investment Behavior Farooq, Umar; Tabash, Mosab I.; Anagreh, Suhaib; Alnahhal, Mohammed
Emerging Science Journal Vol. 5 (2021): Special Issue "COVID-19: Emerging Research"
Publisher : Ital Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28991/esj-2021-SPER-11

The current wave of COVID-19 outbreak has created new strategical challenges for policy officials of the industrial sector across the world. The effect of COVID-19 is more in developing economies where industrial sector is already struggling for its stability. This study introduces the impact of COVID-19 on the corporate investment behavior of non-financial publicly listed firms of Pakistan. To achieve the objective, we employ the panel data ranging from 2010 to 2020 and apply the difference-in-differences (DID) model to quantifies the empirical relationship. The outcomes of DID model suggest that the pandemic period and treatment have a significant and negative impact on corporate capital investment behavior. During pandemic spread period, the enterprises have limited their investment into fixed assets due to less productive use of such assets. Similarly, industries that exist in high-impact areas face a negative investment growth rate due to quarantine policy, fewer social movements, and high installing cost of new machinery. However, this negative effect diminishes across those firms that have a quick cash inflow rate and more availability of bank loans. These two factors serve as a financial setback against the adversities of pandemic. By drawing upon the empirical reasoning on the effect of COVID-19, this study also presents possible solutions to alienate unfavorable impacts of this pandemic. Current analysis can be considered as an early attempt towards investigating the consequences of COVID-19 on investment decisions of industrial sector.JEL Classification: G32: G31: G40: C33 Doi: 10.28991/esj-2021-SPER-11 Full Text: PDF

Impact of the COVID-19 Pandemic on Audit Quality: Lessons and Opportunities Hazaea, Saddam A.; Tabash, Mosab I.; Abdul Rahman, Abdul Aziz; Khatib, Saleh F. A.; Zhu, Jinyu; Chong, H Gin
Emerging Science Journal Vol. 6 (2022): Special Issue "COVID-19: Emerging Research"
Publisher : Ital Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28991/esj-2022-SPER-06

This study aims to identify the impact of COVID-19 on audit quality based on the investigation of three auditing aspects, namely: audit fees, audit procedures, and auditors' salaries in Saudi Arabia and Yemen. For data collection, fifty-five (55) questionnaires were distributed to internal auditors, external auditors, managers of audit offices, and financial managers. Eleven managers of audit offices and auditors were interviewed. A descriptive, regression analysis, and T-test were used. The study results reveal that the audit quality has been significantly affected due to the devastating effect of COVID-19 on audit fees, audit procedures, and audit staff salaries. In addition, the results show that Yemen is severely affected due to several factors, which include a lack of modern auditing systems. Also, private ownership of establishments and the absence of laws for determining audit fees negatively impacted the audit quality. Being the first of a practical kind, this study provides a significant contribution to the existing literature on the impact of COVID-19 on the quality of auditing. This would be useful for corporations, audit offices, auditors, and researchers. Moreover, this study can bridge the identified research gap on this topic and provide empirical evidence about the impact of COVID-19 on audit quality. Doi: 10.28991/esj-2022-SPER-06 Full Text: PDF

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