|
2002
(Issue No. 120)
Synopsis
Developing
and Running Credit Card Programmes - Some Key Planning Issues
by David Cavell
Using Credit Scoring for New Business Decisions: Some Key Concepts and Ideas
by Helen McNab
The Case for
Affinity Card Programmes
by Prof Steve Worthington
Such is the increasing interest in the development of these card
products - with their powerful combination of credit line, international
payments capability, and first class control and money transmission systems
?that few major markets do not have their own rapidly growing programmes. And
Malaysia is no exception.
In this series of three papers, the authors deal with a number
of the many issues involved in planning a way into the business, and running it
successfully. What is the rationale for affinity marketing? On what basis
should an organisation choose between Mastercard and Visa? What is the role of
scoring?
Top
Z-Score Revisited: Its Applicability in Predicting Bankruptcy in the Malaysian
Environment
by Dr Fauzias Mat Noor and Chin Yok Fong
There are numerous literature, dating back to 1967, on
predicting corporate bankruptcy using different predicting models. In this
paper, the authors studied the applicability of the Z-score model, first
introduced by Edward I. Altman in 1968 to study the US environment, to predict
the probability of bankruptcy by using published financial data of Malaysian
companies. These companies ?manufacturing in nature ?are mainly listed under
the industrial sector as well as a few companies listed under the consumer
sector that are also clearly manufacturing in nature. This study is timely
especially in the wake of the 1997-1998 Asian financial crisis which has thrown
a fair number of seemingly ‘strong?corporations into financial problems. The
issue here is to examine whether the Z-score using the multiple discriminant
analysis can be used in Malaysia to predict bankruptcy or insolvency.
Top
The
Empirical Investigation of Firm Size Effect on Overreaction Hypothesis
by Lai Ming Ming
This paper examines the short-horizon overreaction with and without control for
firm size on the monthly returns of all stocks in the Kuala Lumpur Stock
Exchange from January 1987 to December 1999. The short-horizon overreaction
indicates return reversal patterns significantly for the winner, loser, and
arbitrage portfolios. Overall, the findings are in favour of the investor
overreaction hypothesis as the overreaction behaviour does not disappear with
the controlling of firm size. The findings suggest that small firm size and
overreaction anomalies are persuasive.
Top
Back
|