• The Journal of Asian Finance, Economics and Business
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• 제7권4호
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• pp.155-162
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• 2020

The paper aims to examine the association between information and communication technology (ICT), economic growth and population health based on health production model in Malaysia. This theoretical health production function is represented as follows: where the output is an individual health outcome, and the inputs are determinants of health, such as income, education, health care costs, medical facilities, the environment, and lifestyle. The development of information and communication technologies are represented as of mobile cellular subscriptions (per 100) and fixed telephone subscriptions (100) using time series data from 1993-2017 from the World Bank database. Using the bound testing technique of cointegration, this study finds that ICT affects population health significantly and positively in the long- and short-run. This is because ICT inclusion improves human health and longevity. Whereas, economic growth has no significant impact on the population's health both in the short- and long-run. The findings indicate that a weak global economy affects Malaysia's economic growth and reduces the health expenditure per capita. The results of this study suggest that policymakers must develop policies that improves public health by increasing health literacy, disseminating health information and facilitating medical facilities. This study also suggests that health care systems should to concentrate on digital inclusion.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.111-120
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• 2021

Takaful, which is an Islamic insurance instrument, manages risks in business, according to Shariah (Islamic law) principles and offers risk protection and savings assets. The study analyzes the comparative efficiency of takaful insurance companies by implementing empirical research. The study also provides a comprehensive literature review on the efficiency analysis of the takaful industry. The empirical part presents a wide range of efficiency comparisons of 41 takaful insurance companies in 16 countries between 2009 and 2014. The data enveloping analysis technique is utilized using the rDEA package in the R environment to compute the efficiency score. In the study, the technical efficiency, overall technical efficiency, and pure technical efficiency are calculated and compared per year and per country. The findings of the study suggest that the overall average efficiency scores of takaful companies are considerably high. The study results also indicate that the excess in the consumption of inputs decreases while the deficit in achieved outputs has been declining in the covered period. The study suggests the managers of the takaful companies can use the target efficiency scores, which are calculated by using the DEA analysis, as an ideal reference benchmark for planning their inputs and outputs.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.789-800
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• 2020

This study aims to examine the effect of perceived usefulness (PU), perceived ease of use (PEU), trust (TR), subjective norm (SN), and attitude (AT) on customer's Intention to Adopt Internet Banking (IAIB) at Islamic banks and conventional banks before and during the Covid-19 pandemic in Indonesia. The research model is based on the Theory of Planned Behavior (TPB) and the Technology Acceptance Model (TAM). This study involves 213 respondents for Islamic banks and 410 respondents for conventional banks from 25 provinces in Indonesia. Data was analyzed using partial least square (PLS) regression with the Structural Equation Model (SEM) method. The result of data analysis confirms several hypotheses taken from the literature. The results before the Covid-19 pandemic showed that AT and SN influence IAIB in Islamic banks. Whereas in conventional banks, AT, PU, SN, and TR influence IAIB. While during the Covid-19 pandemic, it shows that the AT, PU, IB, SN, and customer TR influence IAIB in Islamic banks and conventional banks. From the analysis, it was found that the PEU variable did not have a significant effect on the intention of customers of Islamic banks and conventional banks to use Internet banking.

• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.223-230
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• 2021

The concept of Shariah-based internal audit has received increasing attention from researchers in recent times especially since Islamic financial institutions have been developing in several Asian countries like Bangladesh. To avoid financial irregularities and to maintain Shariah-based financial transactions, an effective Shariah-based internal audit system is extremely important for Islamic financial institutions such as Islamic banks. Hence, the objective of this study is to determine the factors that influence the effectiveness of the Shariah-based audit system. Study data has been gathered from Shariah auditors, members of the Shariah board and audit committee of six private Islamic banks in Dhaka, Bangladesh. A total of 210 survey questionnaires were sent and finally 136 responses were retained, indicating a final sample size of n=136, with a survey feedback rate of 65%. The study adopted a quantitative measure and collected only primary data, followed by convenience sampling. SPSS has been used to run necessary statistical interpretation. Results reveal that auditor's work autonomy, level of competency, and work performance significantly impact the Shariah-based internal audit effectiveness. The study findings can be adopted as guidelines to improve the overall effectiveness of the Shariah-based internal audit system in Islamic financial institutions.

• The Journal of Asian Finance, Economics and Business
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• 제9권1호
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• pp.259-271
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• 2022

The role of Islamic spirituality in the relationship between organizational justice (OJ) and job satisfaction is investigated in this study (JS). The three components of OJ in this study are distributive, procedural, and interactional justice. Islamic spirituality (IS) is founded on piety values, and IS was used as a moderating factor in this study to alter the link between OJ and JS among Malaysian employees of small and medium enterprises (SMEs). Four hundred sets of the questionnaire were issued using a simple random selection procedure, yielding 276 completed responses, suggesting a 69 percent response rate. Multiple Linear Regression Analysis (MLRA) was used to test the proposed relationships. The findings of the study demonstrate that the three OJ aspects have a considerable impact on employee JS, indicating the significance of these elements in ensuring that employees are satisfied with their jobs. IS, on the other hand, had no effect on the link between the OJ dimensions and JS. This research has added to the existing body of knowledge by giving further empirical evidence on the impact of OJ aspects on employee JS in SMEs, notably in Malaysia.

• Korean Journal of Mathematics
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• 제29권3호
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• pp.639-647
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• 2021

In this paper, we consider the integral of a stochastic process with respect of a sequence of square integrable semimartingales. By this integrals, we construct a reproducing kernel Hilbert space and study the correspondence between this space with the concepts of arbitrage and viability in mathematical finance.

• The Journal of Asian Finance, Economics and Business
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• 제6권3호
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• pp.225-234
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• 2019

The study aims to explore key dimensions of service quality of E-Retailing of Islamic banks in the Kingdom of Saudi Arabia. The convenience sample size consists of 373 respondents who regularly use online Islamic banking facilities in Saudi Arabia was used. For measuring the consumers' perspective, a four-factor E-SERVQUAL scale; namely efficiency, system availability, fulfillment, and privacy was used. Exploratory Factor Analysis and Confirmatory Factor Analysis are used to test the model fitness. Structural equation modelling is utilized to determine the impact of E-service quality dimensions on customers' satisfaction. The results of the study reveal that 1) reliability as a dimension of E-retailing of Islamic banks made a significant impact on customers' overall satisfaction; 2) there is a positive significant relationship between responsiveness and customers' overall satisfaction. One unit increased in responsive leads to 0.763 unit increases in the overall satisfaction of the customer; and 3) ease of use is the most important dimensions of service quality of E-retailing of Islamic banks. One unit increases in Security/ Privacy leads to 0.473 unit increases in overall satisfaction. There is a positive impact of good E-service on customers' satisfaction, but it does not override unsatisfactory performance in other areas.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.657-668
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• 2020

This paper investigates the effect of market structure, including some bank-specific variables and macroeconomic conditions, on the profitability of Indonesian Islamic rural banks. We apply the structure conduct performance (SCP) and the relative market power (RMP) hypothesis. Panel data comprising 142 Islamic rural banks from 2013Q1 to 2018Q4 are employed. This study breaks them apart, associated with the level of economic development consisting of Java as developed regions and outside Java as less developed regions. This study employs static and dynamic panel regression. The GMM method, however, is appropriate because of the dynamic nature of profitability. Our results confirm the SCP hypothesis and fail to support the RMP hypothesis. The higher market concentration allows Islamic rural banks to generate a significantly higher profit by conducting a collusive strategy. More interestingly, the collusive behavior may result in more profit for Islamic rural banks located in the developed regions than those in less developed regions. Evidence also highlights the importance of operating efficiency and impaired financing on profitability. High operating efficiency and low impaired financing can improve profit. Our results suggest that capitalizing market share by improving efficiency and optimizing financing contracts between PLS and non-PLS contracts also improve profit.

• The Journal of Asian Finance, Economics and Business
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• 제7권10호
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• pp.219-230
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• 2020

With the largest number of Islamic financial institutions across the world, the demand for a qualified Sharia accountant in Indonesia is indeed inevitable. This study aims to examine the determinant factors of the intention for accounting students to become Certified Sharia Accountant. This study used quantitative method with primary data through questionnaire from 248 selected samples. The data is then analyzed by Partial Least Square Structural Equation Model. This research has used Theory of Planned Behavior combined with Islamic religiosity to explain 67.80% of the intention of accounting students to become Certified Sharia accountants. The test results indicate perceptions of greater job opportunities, good ethical reputation, Islamic religiosity, technical skills, and subjective norm that affects the intention to become Certified Sharia Accountants. The findings of this study contribute to the literature regarding career selection in the field of accounting in general and Certified Sharia Accountants in particular. The results of this study also have a practical impact on the academic world, including the recommendation for curriculum revision and redesign of the learning system. It also has a practical impact on the management of Islamic financial institutions to present them as a promising industry for accounting graduates to work in.

• The Journal of Asian Finance, Economics and Business
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• 제6권1호
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• pp.169-175
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• 2019

Service quality has been a point of discussion from the decades as it is important for customer satisfaction, loyalty and retention. Various models have been proposed to measure the quality in the service sector. Models are modified in accordance with context and geography to assess the quality of service better. This study aims to investigate the impact of the modified e-SERVQUAL model on the customer perception about the existing relation and potential scope of doing business with a bank which in-turn will decide the performance of the bank. Statistical data was analyzed through various tests like reliability analysis, correlation and regression analysis using SPSS 25.0. The primary data of e-SQ and performance was gathered from 721 internet banking users using 32 item questionnaire, representing 72% response rates, of four selected Islamic banks of Malaysia. E-SERQUAL was modified by adding Shariah Compliance information about banks and products for Islamic banking customers. The finding specified that efficient & reliable services, fulfillment, security/trust, and Shariah compliance information have a significant association with the performance of Islamic banks. The research is original and its implications will be helpful for Islamic banks across the world to enhance the online experience of customers, which will help them to retain the customers in the rapid changing virtual environment.