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The aim of this paper is to assess whether the availability of high-frequency data enhances the accuracy of extreme market risk estimation in comparison to low-frequency data by using Value-at-risk (VaR) and Expected shortfall (ES). The sample data used for analysis comprised the daily closing stock prices and 5-minute intraday stock prices of DJIA, FTSE100, BOVESPA, and MERVAL Index from 2014 to 2022. The data analysis was done to compare the performance of two-stages hybrid methods called conditional EVT that combined the GARCH, RV and HAR specification models with the EVT approach. To assess the accuracy of the VaR forecasts, out-of-sample VaR forecast was backtested by using unconditional coverage (UC) and conditional coverage (CC) tests. The VaR backtesting procedure also incorporated the utilization loss function which are the regulatory loss function (RLF) and the firm’s loss function (FLF). The accuracy of the forecasted ES was backtested by using the generalized breach indicator (GBI) method. The findings of this research emphasized that high-frequency conditional EVT, incorporating the HAR specification outperformed the low-frequency conditional EVT in predicting market risk during periods characterized by extreme returns. Based on the VaR and ES measure, the HAR-EVT typed models are the best performance model compared to the GARCH-EVT and RV-EVT typed models during both crisis and non-crisis periods. This research study contributes to the current literature on the forecasting ability of risk models by concentrating on the hybrid model of long-memory models (FIEGARCH, RV-FIEGARCH and HAR-FIEGARCH) for with the EVT approach.

This study aims to comprehend how the descendants of Chinese immigrants construct their identities in a multicultural Malaysian society by exploring food culture and its interactions with place. It analyses food, place and identity to elucidate how the Malaysian Chinese community, an integral part of the nation, form and reform their identities via mixing and negotiating with other ethnicities and races, spatially and temporally, in searching for meaningful connections of their life. Forty-seven documents were collected and analysed, resulting in the discovery of 31 food-place-related concepts integrated into 13 sub-dimensions under six dimensions. Two themes emerged: theme one encompassed interactions between food and place, including 'visual attributes, functionality, and meaning transmission', while theme two concerned hybridity, incorporating 'evolution/process, identities, and well-being'. A framework was constructed to illustrate the process through which identities were shaped and reshaped in association with well-being. The process of seeking meaningful connections generates multiple identities for the Malaysian Chinese that are closely linked to their well-being. [ABSTRACT FROM AUTHOR]

Sustainability experts are increasingly embracing ESG (environmental, social, governance) as a broader aspect of corporate social responsibility. Scholars note a positive impact on corporate financial performance (CFP) among companies with strong ESG credentials. Recent empirical studies on the ESG-CFP relationship in Malaysia show conflicting results, indicating a complex relationship that requires a robust theoretical frame work. Guided by stakeholder theory and slack resources theory, this study investigates the reciprocal effect of CFP and ESG in the context of a developing country. Based on a sample of 71 Malaysian companies from 2013-2022, the empirical findings indicate a significant bidirectional causal relationship between CFP and ESG. Moreover, as companies undergo rapid growth, their profitability increasingly influences ESG performance, although with a diminishing effect over time. This study reaffirms the concept of ESG-CFP virtuous cycle, providing strong justification for companies to adopt ESG agenda as a strategic imperative for long-term sustainability and value creation. [ABSTRACT FROM AUTHOR]

Knowledge sharing can enhance learning and help to build the knowledge workforce. This paper reports on a study of knowledge sharing behaviour among undergraduate students in Malaysia. Knowledge sharing was found to be influenced by the mechanisms used, various barriers to communication and the motivations behind knowledge sharing. The mechanisms include online communication, social interaction, off-campus activities and learning activities. It was found that problems with information and communications technology (ICT), lack of self confidence, external constraints, self-centredness and social attributes can create barriers to knowledge exchange. It is concluded that the motivation to share knowledge appears to be affected by relationships, rewards and the level of satisfaction with knowledge sharing activities. (Contains 1 note and 4 tables.)