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The purpose of this paper is to identify the non-linear effects of the presence of women directors on the board on the financial performances of Malaysian companies which undertakes initial public offerings (IPOs). This paper also analyzes the impacts of non-executive directors and independent directors on their company performances.

This paper traces the effects of gender diversity on the board on the financial performance of a sample of 123 Malaysian companies from the list of 230 companies which have made IPOs and are listed during the period 2005-2012. The multiple regressions (with linear and non-linear specification) are used to estimate the effects of women directors on companies’ performance.

The results show that presence of women directors on the board do not purport to have any significant linear or non-linear impact on the financial performance of the companies under reference, except for the companies in the top 80th percentile of return on equity. Similarly, strong evidence is also found when the number of women as board members is more than 15 per cent.

The findings of this paper suggest that presence of women directors provides a beneficial impact on the return on equity of companies in Malaysia. Therefore, it is suggested that there should be greater participation of women as board members in the country.

Prior studies tried to estimate linear relationship between the presence of woman directors on company performance. Present study assessed it from three different angles: the sample consists of companies in Malaysia issuing IPOs; possible non-linear relationship is also assessed; and apart from multiple regression, quantile regression technique was also used.

This study investigates factors contributing to residential mortgage loans default by utilizing a unique dataset of borrowers' default data from one of the pioneer lending institutions in Malaysia that provides home financing to the public. Studies on mortgage loan default have been extensively examined, but limited studies utilize the individual borrower's data, as financial institutions generally hesitant to reveal their customers' data due to confidentiality issue.

This study uses logistic regression model to analyze 47,158 housing loan borrowers' data for the year 2016.

The findings suggest that male borrowers, Malay and other type of ethnicity, guarantor availability, loan original balance, loan tenure, loan interest rate and loan-to-value (LTV) ratio are the significant factors that influence mortgage loans default in Malaysia.

Future studies may expand the sample by employing data from other types of financial institutions that would give greater insights as findings might vary due to differences in objectives, functions and regulations. In addition, the findings are subjected to the censoring bias where future studies could perform the survival analysis to control for censoring bias and re-validating the findings of the present study.

The findings provide valuable insights for lending institutions and the government to formulate housing loan policy in Malaysia.

To the best of the authors' knowledge, this is the first study in the context of emerging economies that uses financial institution's internal data to investigate factors of mortgage loan default.

By exploiting the exogeneity of the unexpected 2015 European refugee crisis, the paper’s purpose is to analyze the causal impact of the crisis on resident immigrants’ life satisfaction. Due to the ongoing anti-immigrant sentiments, we argue that the refugee crisis and the build-up to it affect how resident immigrants are looked upon in a negative light; this in turn could consequently be reflected in their life satisfaction. We anchor the natives’ hostility toward the refugees and immigrants on the group-threat theory.

Using two waves of the European Values Study, we exploit the exogenous source of variations generated by the crisis and employ a difference-in-differences estimation framework to identify the causal impact.

Our findings indicate negative impact of the refugee crisis on resident immigrants’ life satisfaction. We find negative impact of the refugee crisis on the life satisfactions of resident immigrants with low education levels. Our results also suggest that resident immigrants in Western European countries experience lower life satisfaction after the crisis.

The literature so far mostly revolves around the impact of the crisis on natives’ objective well-being. We find it surprising that the literature has not fully utilized the rare opportunity afforded by the refugee crisis to analyze its impact on resident immigrants’ subjective well-being.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-01-2024-0093

The authors analyse the determinants of loan defaults in micro, small and medium enterprises (MSME) loans in India from the survival duration perspective to draw inferences that have implications for lenders and policymakers.

The authors use the Kaplan–Meier survivor function and the Cox Proportional Hazard model to analyse 4.29 lakhs MSME loan account data originated by a large bank having a national presence from 1st January 2016 to 31st December 2020.

The estimated Kaplan–Meier survival function by various categories of loan and socio-demographic characteristics reflects heterogeneity and identifies the trigger points for actions. The authors identify the key identified default drivers. The authors find that the subsidy amount is more effective at the lower level and its effectiveness diminishes significantly beyond an optimum level. The simulated values show that the effects of rising interest rates on survival rates vary across industries and types of loans.

The identified points of inflection in the default dynamics would help banks to initiate actions to prevent loan defaults. The default drivers identified would foster more nuanced lending decisions. The study estimation of the survival rate based on the simulated values of interest rate and subsidy provides insight for policymakers.

This study is the first to investigate default drivers in MSME loans in India using micro-data. The study findings will act as signposts for the planners to guide the direction of the interest rate to be charged by banks in MSME loans, interest subvention and tailoring subsidy levels to foster sustainable growth.

The purpose of this paper is to empirically assess the efficiency (transaction efficiency, intermediation efficiency and profit efficiency) of the retail branches of a large bank and identify the driver parameters of the same.

The authors use the non-parametric data envelopment analysis approach to analyze the financial performance of 247 branches in 2014, spread over 14 states of a country. After checking for possible misspecification bias, the authors use the fractional regression approach in the second stage of the analysis to assess possible drivers of the efficiency of bank branches in terms of the size of business, funding mix, per employee contribution to business and profit and business per transaction. In addition, the authors included spatial parameters like economic condition and competitive position of branches in their analysis.

The authors find that on an overall basis, there might be a deliberate initiative of the top management of the bank to over-branch in order to improve the output at the aggregate level which is above the level of cost minimization. The study clearly indicates to the top management that low-cost deposit is a significant driver of branch efficiency apart from business per transaction, income per employee. Moreover, it is found that branches located in areas of high branch concentration are more efficient, and local economic condition does drive efficiency of branches.

The authors address the dilemma faced by the top management of banks in arriving at an appropriate scientific benchmark to assess the performance of branches based on the drivers of efficiency and initiate suitable strategic interventions to improve their efficiency.

The integrated assessment of the efficiency of bank branches and arriving at the drivers of efficiency using the fractional regression model framework are likely to prove beneficial in the benchmarking exercise of the performance of bank branches.

The purpose of this paper is to examine the drivers of default in the Malaysian housing market in the light of various policy interventions by the country’s central bank, and the government’s expressed concern to ensure balanced growth in the market. This paper assesses the importance of considering the endogeneity of loan-to-value (LTV) in predicting housing loan default and its implications.

In this paper, the author addresses the endogeneity problem in the LTV variable using two instrumental variables (IV) in this probit regression: national residential property gains tax and the statutory reserve ratio of Bank Negara Malaysia. This study uses the instrumental variable probit model to consider endogeneity bias. This study assumes a latent (unobservable) variable (Y*), representing a borrower’s tendency to default, which is associated linearly with the borrower’s and loan characteristics and other variables (Xi). This study uses individual borrower-level information of 43,156 housing loan borrowers from the files of a well-established housing bank in Malaysia.

This study’s results confirm that endogeneity causes a substantial difference in the magnitude of the estimated effects of LTV on the default tendency. At the lower values of LTV, the probability of default is over-estimated, and at the higher values, the default probability is substantially underestimated. Endogeneity bias also affects the estimated coefficients of loan and borrower characteristics. The authors find that the interest rate is less relevant in predicting loan default. Other loan characteristics, such as loan age, tenure, payment amount and the built-up area, are relevant. This study’s result confirms that the borrower’s location matters, and an increase in state gross domestic product per capita and an increase in the supply of residential units reduce default probability.

The present study did not explore the applicability of the “equity theory of default” in the Malaysian housing market. This study did not assess “strategic default” issues and the effect of borrowers’ characteristics, personality traits and self-control of Malaysian housing loan borrowers in the mortgage decision-making process. The evolving dynamics of the Malaysian housing market microstructure in property valuation remained unexplored in the present study.

The findings have crucial relevance in the decision-making process of commercial banks, the central bank and the government to frame policies to foster balanced growth and development in the housing market. The authors argue that striking a subtle balance between the concerns of financial stability and productive risk-taking by commercial banks in Malaysia remains a continuing challenge for the country’s central bank. The authors also argue that designing suitable taxation policies by the government can deliver its cherished goal of balanced development in the housing market.

Empirical research on the Malaysian housing market based on micro-level data is scarce due to a paucity of relevant data. This study is based on the individual borrower-level information of 43,156 housing loan borrowers from the files of a well-established housing bank in Malaysia. In this analysis, the authors find clear evidence of endogeneity in LTV and argue that any attempts to decipher the default drivers of housing loans without addressing the issue of endogeneity may lead to faulty interpretation. Therefore, this study is unique in recognizing endogeneity and has gone deeper in identifying the default drivers in the Malaysian housing market not addressed by earlier papers.

Previous studies on the effect of entrepreneur education are not comprehensive. Thus, estimating the effect of entrepreneur education is imperative. According to the Malaysian Ministry of Education (MoE), only 1.7 percent (as of 2013) of university graduates are self-employed, that is managing one’s own business or known as graduate entrepreneurs. Consequently, a huge gap exists between what is targeted by the government (5.5 percent by 2015) and the reality (a small number of graduate entrepreneurs). The purpose of this paper is to analyze the factors influencing a graduate’s choice to be entrepreneur, particularly the effects of different entrepreneur education, either formal or informal.

A total of 2,300 graduates from Universiti Utara Malaysia participated in this study.

The findings showed that the majority of the respondents are consistent in terms of their intent to become entrepreneurs.

Due to time and resource constraints, the data are limited to only one university in Malaysia. It is suggested that future studies include more universities, especially entrepreneurial universities. Although it is believe that public universities’ undergraduates population are highly homogeneous, it is good that the findings of the present study to be further validated by future studies using larger sample that consists of varies of public universities.

This paper supports government policies in terms of cultivating educated entrepreneur such as promoting the entrepreneurship education among higher institutions of education (MoE, 2007). However, there are negative relationships among higher academic achievement of graduates toward their intention to be entrepreneurs. It is indicated that high academic achievements are negatively related to becoming entrepreneurs. Thus, it is suggested that entrepreneurship education in terms of both formal and informal education be implemented into the curriculum in order to cultivate entrepreneurial intentions.

There is still much more to be learned to fully understand the processes that leading to the decision to become an entrepreneur. Nevertheless, the results presented in this paper provide some understanding of the factors influencing the decision to become an entrepreneur among university students and graduates using a convenience sample. Thus, the results are exploratory and subjected to validation by future studies using more representative samples. Nevertheless, the study makes a contribution to the effort to predict and develop entrepreneurs in the country.

The purpose of this study is to examine the impact of crime risk on housing prices at a national level in Malaysia during the period from 1988 to 2016.

A hedonic regression approach was used to estimate the Malaysian households’ valuation for crime risk. Specifically, the state-level property index on the state-level reported crime rate was regressed while controlling for state-level socioeconomic variables. The macroeconomic panel nature of the data set provides the merit to use a panel dynamic model instead of the traditional static panel data techniques (fixed effects or first difference).

Panel dynamic estimators consistently show a negative impact of crime risks on housing prices. The estimated elasticity of housing prices with respect to crime risks ranges from −0.141 to −0.166, in line with existing literature using micro level data. In fact, householders in crime hotspot states are willing to pay more for crime reduction compared to householders in non-hotspot states. The willingness to pay has also increased since the implementation of nationwide crime reduction plans in 2010.

This is the first study that has examined the Malaysian people’s willingness to pay to reduce crime. This information is important in determining the optimal level of government expenditures for public safety.

This is the first study to examine the relationship between crime rates and housing prices in Malaysia. This study contributes to the literature by examining the impact of crime rates on housing prices at a national level by using panel dynamic models. The macro level data results are consistent and complement the existing literature based on micro level data.

The popularity and use of mobile marketing technologies or devices have led to significant interest from researchers and practitioners, particularly in small- and medium-sized enterprises (SMEs), where these technologies offer significant benefits to SMEs given the poor human capital and financial constraints encountered. The use of mobile marketing devices assists SMEs to boost their sales promotion strategies which aim at increasing the sales of their products and services. However, there has been limited focus on developing a suitable framework that enables the evaluation and shared an understanding of the factors influencing the adoption of mobile marketing technology by service SMEs in Nigeria. Therefore, this paper aims to develop a theoretically grounded framework for exploring these factors and explaining their impact on mobile marketing technology adoption in SMEs in Nigeria.

The study is qualitative and used both unstructured and semi-structured interviews with a total of 26 participants drawn purposively from NIJA database in Nigeria. Thematic analysis was deployed in analysing the data.

The study developed an extended technology organisation environment (TOE) framework by incorporating the value anticipation context which helped to unveil 16 key factors influencing mobile marketing technology adoption in service SMEs in Nigeria. The finding revealed that factors associated with the extended TOE framework have an impact on SMEs mobile le marketing technology adoption but at different levels.

The limitation of this study emerged because of the use of qualitative methodologies about the research design, rigour in the collection and management of the large volume of the raw data, the data analysis and the credibility of the findings. This may lead to unforeseen respondent and research bias in the data analysis, which may lead to a limited understanding of alternatives and insights into the factors influencing the adoption of mobile marketing. Hence, other measures and approaches such as case study and mix-method could be deployed to validate the findings further. Also, one of the limitations of qualitative study has been the issue of theoretical generalizability of the framework. The generalizability of the formwork needs to be established across a broader range of the population. Future studies may apply confirmatory statistical techniques to test and ascertain the validity and reliability of the framework across a broader population of mobile marketing technology adopters in Nigeria. Such studies may be used as a benchmark for the theoretical constructs and the factors that may lead to the success or failure of mobile marketing technology adoption.

The study had further enriched TOE framework and provided an analytical dimension for exploring the adoption of mobile marketing technology. It also demonstrates the capacity to provide a reliable explanation of the factors and serves as a tool for evaluating the benefits or challenges of mobile marketing technology adoption in SMEs in Nigeria.

The purpose of this study is to examine the factors that influence Malaysian Small and Medium Enterprises (SMEs) to adopt mobile commerce (m-commerce) by integrating the constructs of Technology Acceptance Model 3 (TAM 3), Universal Theory of Acceptance and Use of Technology 2 and Technology-Organization-Environment model. Though numerous m-commerce adoption (MCA) studies have been conducted, lesser attention is paid to how hedonic motivation (HM) can influence organizational users such as SMEs. This study bridges the gap by integrating the three models to provide a new lens to guide SMEs.

To examine the factors that influence the adoption of m-commerce, the researchers collected data from SMEs in Malaysia using an online survey. The sample size of the participants was determined through the available list provided by SME Corp Malaysia. The researchers also used Krejcie and Morgan’s sample size and G * Power techniques to determine that the sample size was appropriate. The data collected were analyzed using partial least square-structural equation modeling.

The findings of this study reveal that technological factors (computer self-efficacy [CSE], result demonstrability [RD] and computer anxiety [CA]) positively and significantly influence MCA. Likewise, the organizational/environmental factors (m-commerce knowledge, pressure from trading partners and pressure from competitors) positively and significantly influence MCA. The moderating influence of HM was also achieved on the relationship between CSE and RD. However, the proposed hedonic moderating relationship between CA and the adoption of m-commerce is not significant.

This study integrates three models to explain the adoption of m-commerce among SMEs in Malaysia and tested the moderating influence of HM. The results obtained better explain the decision by the SMEs to use m-commerce.

The study critically considered how m-commerce can be adopted by SMEs in Malaysia, which previous studies have largely ignored. Considering this, the study, therefore, advances a new relationship by integrating Technology-organization-environment model with TAM 3 and the moderating influence of HM to explain MCA among SMEs. This paper is one of the few research studies to test the moderating influence of HM in this regard.