Labuan Bulletin of International Business and Finance (LBIBF)

DUAL-MARKET BOND DYNAMICS: COMPARATIVE ANALYSIS OF ISLAMIC AND CONVENTIONAL SHORT- AND LONG-TERM INSTRUMENTS AMID SHIFTING MONETARY POLICIES

2025-06-18T13:51:46+08:00

This study examines the yield dynamics of Malaysian sovereign bonds, focusing on short-and long-term instruments and the distinctions between conventional bonds and Islamic bonds (sukuk) during the dynamic period from 2019 to 2025. This study first analyzes how short- and long-term bond yields respond to monetary policy changes and then compares the yield behaviors of bonds and sukuk across these categories. This study employed a combination of descriptive statistics, regression analysis, and t-tests on data from Malaysian sovereign debt instruments. The findings reveal that both short-term bonds and sukuk are highly sensitive to interest rate changes, reflecting their role as immediate indicators of monetary policy shifts. In contrast, long-term bonds are more responsive to inflation expectations and GDP growth, which aligns with theories of long-term yield dynamics. Notably, no statistically significant difference in returns is observed between conventional bonds and sukuk, suggesting similar performance in terms of yields. Amid dynamic market conditions, evolving policies, and the unique challenges faced by emerging economies such as Malaysia, particularly those with dual-market structures, these findings validate existing theories and provide critical insights for policymakers, investors, and researchers, especially in the context of dual-bond markets during periods of market volatility.

ISLAMIC WORK BEHAVIOUR AND MENTAL HEALTH GOODNESS

2025-09-04T17:24:28+08:00

This work examined Islamic work behaviour and mental health goodness in Malaysia. The theory of planned behaviour (TPB) was used in this study with the integration of perceived piety and mental health goodness. A total of 404 respondents from two public universities were analysed. The findings reported favourable outcomes in which all observed factors were statistically important. Besides, Islamic work behaviour was significantly related to mental health goodness. The results obtained were confined to public universities and the theory selected. Furthermore, the results obtained serve as a useful reference guide for top management to consider Islamic work behaviour for employees’ training and productivity. In fact, the framework developed in this study reflects the specific topic of Islamic work behaviour and mental health goodness, sourced from the context of Malaysia.

OIL PRICE IMPACTS AND SECTORAL VULNERABILITY: EVIDENCE FROM A MIDDLE-INCOME COUNTRY

2025-08-26T13:46:16+08:00

The study investigates the differential exposure of Malaysia’s key economic sectors such as agriculture, mining and quarrying, manufacturing, and construction to oil price shocks. Employing a Structural Vector Autoregression (SVAR) model with short-run zero restrictions, the analysis disentangles the dynamic transmission mechanisms linking global oil price fluctuations to sectoral output in a resource-dependent, middle-income economy. The findings reveal that positive oil price shocks have a statistically significant and generally beneficial impact across all sectors, with mining and quarrying showing the highest sensitivity due to its direct link to global energy markets. Manufacturing, construction, and agriculture follow in descending order of responsiveness, reflecting differing degrees of international exposure and domestic value chain integration. By modelling these asymmetric sectoral responses over a long historical period, the study contributes novel empirical insights into the macroeconomic implications of resource dependence and offers valuable guidance for policymakers in managing external commodity-driven volatility.

EXPLORING CRYPTOCURRENCY ADOPTION AMONG UNDERGRADUATES’ STUDENTS

2025-06-19T10:01:56+08:00

This study investigates determinants of cryptocurrency adoption among Malaysian undergraduates through an extended Unified Theory of Acceptance and Use of Technology (UTAUT) framework, extended variable. Employing a quantitative design, data from 271 students at Universiti Malaysia Sabah were analysed via partial least squares structural equation modelling (PLS-SEM). Findings reveal performance expectancy, social influence, and trust as significant positive predictors of adoption, whereas effort expectancy and facilitating conditions exhibited non-significant effects. The study’s originality lies in contextualising UTAUT within Malaysia’s under-researched tertiary education sector, highlighting trust as a critical socio-cultural determinant often overlooked in technology adoption models. Practical implications suggest that universities and policymakers should prioritise cryptocurrency literacy programmes and regulatory frameworks that enhance platform security to foster informed adoption. A limitation is the single-institution sampling, which constrains generalisability; future research should explore demographic variables (e.g., age, discipline) and cross-cultural comparisons. By bridging theoretical and empirical gaps, this work advances understanding of behavioural drivers in digital finance, offering actionable insights for academia and Southeast Asia’s evolving cryptocurrency landscape.

CUSTOMER BEHAVIOUR TOWARD SHARIAH-COMPLIANT DIGITAL GOLD SAVING: CONCEPTUAL FRAMEWORK

2025-06-19T10:08:09+08:00

The results of the study are not significant, which is a gap that researchers should address in this paper. Previous studies have found that customers use bitcoin currency a lot in their digital gold savings. Researchers need to conduct a study on customer behavior in Shariah-compliant digital gold savings. For example, Exchange-Traded Funds (ETFs), Gold Investment Accounts (GIA), and Digital Gold Wallets. This is because bitcoin currency is not exchanged in the form of physical gold and has an element of gharar in its investment. The literature review also explains that market price modeling, bitcoin currency protection, and related phenomena. This is because bitcoin currency cannot be Ar-Rahnu to obtain the value of gold leased digitally to physical. This study aims to identify customer behavior in Shariah-compliant digital gold savings in Malaysia. Therefore, the theory used in this research is the Theory of Planner Behaviour (TPB) to measure the extent to which customers use digital gold platforms to saving gold that is Shariah-compliant.

DIFFERENCES IN PERCEPTIONS, EXPERIENCES, AND JOB SATISFACTION BETWEEN THE GENDERS IN THE CAMBODIAN ACCOUNTING PROFESSION

2025-12-12T11:24:55+08:00

This study investigated gender-based disparities in workplace perceptions, experiences, and job satisfaction among accountants in Phnom Penh, Cambodia. Utilizing a cross-sectional, quantitative methodology, survey data from 102 respondents were analyzed. Results indicated no significant differences in workplace experiences or satisfaction levels between genders. However, gendered differences emerged in how professional qualities and workplace environments influenced job satisfaction. For male accountants, job satisfaction was significantly related to professional qualities, whereas female accountants associated it more with workplace environments. These findings underscore the importance of inclusive workplaces and provide a basis for further exploration into systemic inequalities.