This study evaluates the performances of 321 Malaysian equity mutual funds for the period of June 1998 to May 2015. These mutual funds appear to generate an average monthly rate of 0.6878 percent (8.25% per annum), a performance close enough to that of the market (8.42% per annum). The Jensen's alphas show that only around 22 percent of these funds significantly outperform the market. While multifactor models are expected to produce better explanatory power, Carhart rather than q-factor model seems to fit the Malaysian funds data better. The results reveal that (i) funds' returns are closely linked to market performance, (ii) effect of fund managers' stock selection and market timing skills are both weak and insignificant on fund performance, (iii) of the five investment styles exhibited in these multifactor models, only value (HML) and profitability (RMW) have gained attention from fund managers, (iv) adoption of RMW tend to give an equal chance of deteriorating and improving funds' returns. The results of this study in general imply that investors might be better off investing in the equity market directly and passively through index-tracking and buy-and-hold strategies that are less costly.
Forecasting stock market is always a challenge task for the investors. This study aimed to develop a new approach for forecasting the price movements of e-commerce stocks. The signals emitted by the technical indicators are used as the features for two machine learning algorithms in predicting the stocks movements. The technical indicators used in this study were Moving Average (MA), Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI) and Stochastic Oscillator (SO). Meanwhile, the machine learning algorithms used in this study were Random Forest (RF) and K-Neighbor Nearest (KNN). The findings of this study indicated that the inclusion of signals emitted by MA rule with 5-days short MA and 20-days long MA helps to reduce the error values for the prediction model. Besides that, this study also found that the signals from MA, MACD, RSI and SO fit the prediction model well. The investors are recommended to use machine learning algorithms to predict the price movements of e-commerce stocks. Lastly, investors are recommended to consider the signals from these four technical indicators, MA (5-days short MA & 20 long-MA), MACD, RSI and SO as the reference for their investment strategies in e-commerce stocks.
This study aims to examine the immunity of the Malaysian sectoral indexes to the COVID-19 related news in 2020 and 2021. The findings indicated that the market volatility of the Malaysian stock market has reduced from 2020 to 2021. The results also showed that market volatility and Brent oil price movements had a significant impact on the majority of the sectors. The daily COVID-19 confirmed cases also had a greater impact than the daily COVID-19 death cases towards the movements of Malaysian sectorial indexes. Investors are recommended to monitor the information related to the COVID-19 pandemic. Any dramatic changes in COVID-19 confirmed cases and death cases might cause another round of volatility in the Malaysian stock market. Risk-averse investors are recommended to pay attention to the consumer product and construction sectors. Lastly, REIT, technology, and healthcare sectors shall be another sector to be targeted after the reopening of economic activities.
This study aims to investigate the contribution of E-wallet usage to the business performance of small and medium enterprises (SMEs) in Kuching, Sarawak. In addition, the study explores the common issues encountered by customers during E-wallet transactions. The survey included participation from 150 representatives of SMEs from the food and beverage and retail sectors. The outcome of this study is expected to enhance the understanding of how Ewallet adoption influences SMEs' financial performance and provide insights into customer issues and service provider effectiveness. The results will offer practical recommendations for SMEs and E-wallet service providers, helping them optimize their strategies, improve customer experiences, and ultimately strengthen their businesses in the dynamic digital landscape.
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