Forthcoming articles


International Journal of Complexity in Leadership and Management


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International Journal of Complexity in Leadership and Management (2 papers in press)

Special Issue on: SSBRN Symposium 2017 Multi-perspective Approach in Business and Organisation Studies

  • Application of fuzzy data envelopment analysis to measure relative efficiency of Islamic banks: evidence from Malaysia   Order a copy of this article
    by Lazim Abdullah 
    Abstract: Bank efficiency measures are important as it provides a gauge in delivering services and performance. It is more important in a case where Islamic and conventional banking systems are operated simultaneously. Most people perceived that Islamic banking systems are less competitive and not efficient. This paper aims to measure the relative efficiency of selected Islamic banks in Malaysia. The paper uses the non-parametric method, fuzzy data envelopment analysis to propose the relative efficiency measures. Three input data and three output data are computed to establish efficiency measures. The final results indicate that all selected Islamic banks have achieved efficiency measures more than 0.9 out of 1 in measurement scale. The CIMBIB is measured as the most efficient bank among four Islamic banks in Malaysia. The findings need to be corroborated by more input and output data, and also subjected to validation mechanism where these suggestions could be left for future research.
    Keywords: Islamic banking; triangular fuzzy numbers; data envelopment analysis; efficiency measures.

  • Long-Run Underperformance on Right Issues: Evidence from Indonesia   Order a copy of this article
    by Salsabila Annisa Azmi, Abdur Rafik 
    Abstract: This study aims to analyse the underperformance phenomenon following right issues in the Indonesian context. In total, 109 issuing firms from 2009-2014 are analysed using performance benchmarking approaches, which are the market-based, the size-based, the growth-based, and the industry-based benchmarks. The test is conducted using standard t and Wilcoxon tests by examining the benchmark-based abnormal returns over various spans, ranging from 3 to 36 months following right offerings. Like several findings in developed countries, the results also confirm the underperformance phenomenon following right offerings in Indonesia. The negative abnormal returns are found for all benchmark performances, but only significant for the market benchmark, and partially significant for the size and the growth benchmarks. Behavioural explanations need to be modelled to reveal the intuitions behind the results.
    Keywords: benchmarking approach; event-study; long-term underperformance; right issue; right issue in Indonesia; seasoned equity offering; underperformance.