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All Journal Indonesian Capital Market Review
Shaharuddin, Norhasimah
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Economics, Econometrics & Finance

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Impact of the Relationship among Financial Development, ICT and English Proficiency on Income Inequality: Evidence from Malaysia Shaharuddin, Norhasimah; Azam, Abdul Hafiz Mohd; Wahab, Mohd Hafiz Abdul; Karim, Norzitah Abdul; Hilmiyah, Nurul; Shakrein, Sharul Shahida; Osman, Adibah Alawiah
Indonesian Capital Market Review Vol. 16, No. 1
Publisher : UI Scholars Hub

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Income inequality is a persistent phenomenon and fundamental issue of concern, especially in this new digital era, because unequal access to finance has long been recognized as a critical mechanism for generating persistent income inequality. ICT tools and approaches are being used widely today due to their convenience, omnipresence and economy. This study examines the influence of financial development, ICT, and English proficiency on income inequality in Malaysia during the period of 1979-2019. The empirical results based on the ARDL bounds test indicated that financial develop- ment and English proficiency support the hypothesis that both factors can reduce the income gap in the long run. While ICT has shown different results, its improvement has only reduced the income gap in the short term. Hence the need for strengthening ICT policy is crucial as it can lead to develop- ment. Mastery of English is also considered to foster economic resilience.
Do Environmental Risks Explain the Sovereign Sukuk Yields in Malaysia? Mohamad Shafi, Roslina; Shaharuddin, Norhasimah; Bakar, Norsaliza Abu; Muhamat, Amirul Afif; Tabash, Mosab I.
Indonesian Capital Market Review Vol. 17, No. 1
Publisher : UI Scholars Hub

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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.
Co-Authors Azam, Abdul Hafiz Mohd Bakar, Norsaliza Abu Karim, Norzitah Abdul Mohamad Shafi, Roslina Muhamat, Amirul Afif Nurul Hilmiyah Osman, Adibah Alawiah Shakrein, Sharul Shahida Tabash, Mosab I. Wahab, Mohd Hafiz Abdul