• The Journal of Asian Finance, Economics and Business
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• 제9권3호
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• pp.285-293
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• 2022

Issues relating to business inheritance are a primary focus for business owners. Business inheritance is critical to ensuring that the business can be managed by the next generation and family members can benefit from the earnings and revenues. Therefore, preliminary planning must be done while the business owner is still alive by selecting the appropriate business inheritance mechanism for Muslims in Malaysia. The mechanisms of business inheritance, notably faraid, hibah, amanah, and hibah amanah will be examined in this paper from both a civil and Islamic perspective. By reviewing written journals and previous research, this research utilizes the library method. According to this study, business succession can be carried out by naming a beneficiary as a partner in the company or by completing the ownership transfer process while the owner is still living. In the other situation, it can be done by anyone among the heirs agreeing to re-register the business as usual. Meanwhile, there are four main instruments in Islamic law that can be used: faraid, hibah, amanah, and commercial hibah. According to this study, each instrument has a different impact on business succession. Entrepreneurs should use these instruments in their firm succession planning.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.643-655
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• 2021

This study investigated the effect of the Amanah Ikhtiar Malaysia (AIM) microfinancing on the economic, social, and household empowerment of women borrowers in Malaysia. The study used a quantitative approach based on primary data. For this study, the participants comprised 384 AIM borrowers from Terengganu, Kelantan, and Pahang in the east coast region of Malaysia. Purposive stratified random sampling was used as well as the Krejcie and Morgan method to count the number of samples. Descriptive statistics and the Women Empowerment Index (WEI) were used in the analysis. The study findings reveal that AIM microfinancing affects the economic, social, and household empowerment of women borrowers in Malaysia. However, in comparing the three categories, women enjoyed more freedom in social and household decision-making than in economic decision-making. The present study recommends policies for the successful and effective operation of microfinance programs by providing the necessary guidelines for the control of AIM loan for women borrowers; increasing income-generating activities, sufficient access of credit, and proper education for the borrowers; and giving economic freedom of choice with necessary skill training policymaking options for the government and NGOs with the aim to improve the total household income and empowerment of the microcredit borrowers in Malaysia.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.821-832
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• 2021

Economic deprivation of households remains a significant economic issue in the world. Researchers have shown great concern in identifying crucial factors to enhance poor households' socio-economic performance. Therefore, this paper aims to develop a new conceptual framework to investigate the influence of different microfinance services on households' socioeconomic performance using moderated mediation analysis of various crucial factors. Focus-group interviews with managements of the microfinance institution, i.e. Amanah Ikhtiar Malaysia (AIM), and a systematic literature review were conducted for this purpose, and a new framework for the future study has been developed. The result from focus-group interviews and systematic literature review propose microfinance financial services, training programs, and business coaching as independent factors, whereas household socioeconomic performance as a dependent factor in the proposed model. Specifically, this study provides the direction to scholars to empirically test the direct relationship between financial services and household socioeconomic performance and the indirect relationship between training programs, business coaching, and household socioeconomic performance. Further, microfinance institutions' service efficiency is also included as a moderator that can strengthen microfinance services' effectiveness. The study also provides useful implications for policymakers, financial institutions, households, micro-enterprises, and researchers to better understand microfinance interventions and household economic mechanisms.

• 농업과학연구
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• 제46권1호
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• pp.183-194
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• 2019

Adulteration of argan oil with some other cheaper oils with similar chemical compositions has resulted in increasing demands for authenticity assurance and quality control. Fast and simple analytical techniques are thus needed for authenticity analysis of high-priced argan oil. Raman spectroscopy is a potent technique and has been extensively used for quality control and safety determination for food products In this study, Raman spectroscopy in combination with a net analyte signal (NAS)-based methodology, i.e., hybrid linear analysis method developed by Goicoechea and Olivieri in 1999 (HLA/GO), was used to predict the different concentrations of olive oil (0 - 20%) added to argan oil. Raman spectra of 90 samples were collected in a spectral range of $400-400cm^{-1}$, and calibration and validation sets were designed to evaluate the performance of the multivariate method. The results revealed a high coefficient of determination ($R^2$) value of 0.98 and a low root-mean-square error (RMSE) value of 0.41% for the calibration set, and an $R^2$ of 0.97 and RMSE of 0.36% for the validation set. Additionally, the figures of merit such as sensitivity, selectivity, limit of detection, and limit of quantification were used for further validation. The high $R^2$ and low RMSE values validate the detection ability and accuracy of the developed method and demonstrate its potential for quantitative determination of oil adulteration.

• 농업과학연구
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• 제48권2호
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• pp.299-310
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• 2021

Glycerol is a non-volatile compound with no aromatic properties that contributes significantly to the quality of wine by providing sweetness and richness of taste. In addition, it is also the third most significant byproduct of alcoholic fermentation in terms of quantity after ethanol and carbon dioxide. In this study, Fourier transform infrared (FT-IR) spectroscopy was employed as a fast non-destructive method in conjugation with multivariate regression analysis to build a model for the quantitative analysis of glycerol concentration in wine samples. The samples were prepared by using three varieties of red wine samples (i.e., Shiraz, Merlot, and Barbaresco) that were adulterated with glycerol in concentration ranges from 0.1 to 15% (v·v^-1), and subjected to analysis together with pure wine samples. A net analyte signal (NAS)-based methodology, called hybrid linear analysis in the literature (HLA/GO), was applied for predicting glycerol concentrations in the collected FT-IR spectral data. Calibration and validation sets were designed to evaluate the performance of the multivariate method. The obtained results exhibited a high coefficient of determination (R²) of 0.987 and a low root mean square error (RMSE) of 0.563% for the calibration set, and a R² of 0.984 and a RMSE of 0.626% for the validation set. Further, the model was validated in terms of sensitivity, selectivity, and limits of detection and quantification, and the results confirmed that this model can be used in most applications, as well as for quality assurance.