2. Publicaciones

URI permanente para esta comunidadhttps://hdl.handle.net/20.500.12640/4068

Las publicaciones de ESAN reúnen una variedad de materiales académicos y prácticos que abarcan áreas fundamentales como la administración, economía, negocios, entre otros. Con enfoque en la formación y el desarrollo profesional, estas obras buscan contribuir al conocimiento y la innovación en diversas disciplinas; asimismo, proporciona información relevante y actualizada para la comunidad académica y empresarial en el ámbito local e internacional

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2016 - 201912020 - 20221

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Autor: search.filters.author.Hussain, Hafezali Iqbal

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Mostrando 1 - 2 de 2
  • Miniatura
    ÍtemSolo Metadatos
    Economic policy uncertainty of China and investment opportunities: a tale of ASEAN stock markets
    (Universidad ESAN. ESAN Ediciones, 2022-12-28) Thaker, Hassanudin Mohd Thas; Thaker, Mohamed Asmy Mohd Thas; Sakti, Muhammad Rizky Prima; Sifat, Imtiaz; Pitchay, Anwar Allah; Hussain, Hafezali Iqbal
    Purpose: The purpose of this paper is to examine the effect of economic policy uncertainty (EPU) of China on investment opportunities in five ASEAN economies. Design/methodology/approach: This paper employs advanced empirical approaches, such as Multivariate DCC-GARCH and Continuous Wavelet Transform (CWT) to test the research objective. The period of analysis involved monthly data from 2003 until 2019. Findings: This paper provides evidence where the Malaysian stock market to be the least exposed to risks emanating from Chinese EPU, followed by Singapore, the Philippines, Thailand and Indonesia. Results for investment opportunities based on time horizon suggest, for a short-term holding period, investors are better off investing in Singapore and Indonesia, while, for medium-term holding periods, all ASEAN markets appear lucrative except for the Philippines. Practical implications: From a managerial perspective, the outcome or findings of this study are expected to aid the retail and institutional investors in designing better strategies on diversifying a stock portfolio with different holding periods. Originality/value: Theoretically, the findings of this study contribute fresh insights into an emerging strand of literature focusing on the transmission of regional policy. Methodologically as well, this study is a novel venture to the best of authors' knowledge.
  • Miniatura
    ÍtemSolo Metadatos
    Corporate governance characteristics and valuation: inferences from quantile regression
    (Universidad ESAN. ESAN Ediciones, 2016-12-01) Shawtari, Fekri Ali; Salem, Milad Abdelnabi; Hussain, Hafezali Iqbal; Alaeddin, Omar; Bin Thabit, Omer
    Prior literature on corporate governance and performance provides mixed evidence on the impact ofvarious corporate governance measures on performance indicators. However, most of literatures adoptthe Ordinary Least Square (OLS). This method is based on the central tendency, which may not appro-priately represent the reality in cases where the dependent variable ranges between upper and lowervalues and hence the relationship may not be homogenous across different percentiles of the dependentvariables. A variable having a positive impact based on the central tendency for firms may not be the casefor the firms in the upper or lower bounds. Thus, estimating the means using OLS may not reflect andrepresent the heterogeneity in the estimated relationship. Therefore, quantile regression estimates therelationship at any point conditional on the distribution of dependent variable. This would enable us togenerate various estimated coefficient at certain quantile of dependent variable. Therefore, the objectiveof the study is twofold. First, this study aims to investigate the relationship between corporate gover-nance and performance using OLS. Second, this work further explores the impact of corporate governancemechanisms on performance using quantile regression so as to compare and to shed light on whetherthere is heterogeneity in the influence of these variables on the performance of listed companies acrossquantiles. The results of the study provide evidence that quantile approach shows inconsistency in theresult with OLS and hence indicating the impact depends on the scale size. This theoretically providesfurther support that OLS may represent a poor estimation approach for the reality of firms.