Purpose -This study examines the intangible assets value of the Malaysian market. It measures the relationship between intangible assets and corporate market value of Malaysian firms and whether they are consistent with findings in other advanced markets. Design/methodology/approach -Firstly, the development of intangible assets of Malaysian companies over 2000 to 2006 were measured statistically using Landsman's balance sheet identity model. Then, cross-sectional multi-regression procedure was used to ascertain the relationship between intangible assets and financial performance. Findings -The findings reveal that the Malaysian market developed intangible assets at a rather slow pace, with significant development from year 2004 onwards. It also reveals that the book value of net assets (BVNA) are still dominant in Malaysian corporate valuation but this trend is declining as greater interest has now been developed in employing intangible assets and earnings as important variables. Furthermore, the results indicate that there is a positive trend in intangible assets development in Malaysia, consistent with those of advanced markets such as the US, Europe and Australia. However, the Malaysian market lags by about 20 years as compared to the more advanced ones.Research limitations/implications -The limitations of this paper are as follows: the time frame for this study was seven years and it looked at the post-financial crisis period. A longer time frame may be desirable covering both pre-and post-crisis periods. Secondly, this study did not look into intangible assets at the micro-level perspective. Unless solid definition, classification, measurement and valuation of intangible assets have been ascertained, it is not worth dwelling on individual assets, such as brand, research and development (R&D), and human capital. Originality/value -The main contribution of this study is that it provides empirical evidence that intangible assets or intellectual assets are strategic assets that require close attention in line with development of the knowledge-based economy.
Globalization and economic pressure faced by governments including Malaysia, have led universities to be independent and source out their own fund for development, operation and research activity. In Malaysian case, the government has launched National Higher Education Strategic Plan Beyond 2020 to prepare for new challenges. As a result, the plan offers new autonomy for public universities. While government gives special attention to public university, literature provides limited discussion on the funding and sustainability of private universities. As such, this paper aims at exploring waqf as one of the financing instruments for private university’s sustainability. The paper proposes conceptual model to transform conventional method of financing university into corporate waqf university (CoWU), based on Yayasan Universiti Multimedia (YUM) experience. The study expands previous research and highlights the potential of transforming existing conventional endowment to Islamic endowment (waqf). The study adopts qualititative approach where desk research, interview, discussion, benchmarking as well as primary data collection were employed. It opens up possibilities and proposes practical model where corporate sector and university can work together to establish and fund corporate waqf university. The study also examines issues in implementing corporate waqf university, discusses opportunities and challenges in managing waqf for higher learning institutions. Finally, the paper suggests some pertinent points for policy maker and practitioner consideration.
This article is written based on author’s personal experience with waqf program implementation (philantrophy activities) mainly in executing cash waqf for education in Malaysia, Indonesia and Cambodia. In particular, the article provides brief literature on waqf and cash waqf, describes success story, highlights prospects and challenges in implementing cash waqf for education.
The paper aims to discuss the effect of household factors on repayment ability among borrowers of Islamic microfinance in Bangladesh. Cross-sectional survey was used on borrowers who have been involved for more than two years in rural development scheme. Data was collected from 507 households through a close-ended questionnaire. The survey found that household income increased significantly after access to the Islamic microfinance program. The structural equation model analysis shows that household income has a significant positive effect on repayment ability. Household savings and consumption were also found to have a significant positive relationship with household income. Household savings also has a significant positive relationship with repayment ability when it is negative with the household consumption. Unlike conventional studies, this study found that borrowers involved in farm activities have a better repayment ability. The emerging result contributes to the research regarding repayment problems and the findings demonstrate that the adoption of Islamic microfinance could be a better solution. It is also anticipated that the empirical result will contribute to the furtherance of literature on Islamic microfinance.
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