87 on Freedom of Association along wit the Protection of the Right to Organise has not been ratified by Malaysia but Convention No. 98 on the Right to Organise and Collective Bargaining was ratified by Malaysia in 1961 (Twomey, 2010)
A trade union can be suspended for up to six months by the Minister of Human Resources in the interest of the public order or the national security. According to a report by the MTUC in 2004 that often 18-24 months are taken by the recognition claims to settle, especially if a disagreement or dispute occurs (Upex, 2006)
A rally was organized by BERSIH on November 10th, in which free and fair elections were demanded by 30,000 people. The police tried to prevent the rally from taking place but when they failed they used the tear gas and chemical laced water to disperse that crowd (Young and Gender, 2011)
In Mbuti society, bride wealth is not customary. There is no formal marriage ceremony: couples are considered officially married when the groom presents his bride's parents with an antelope he alone has hunted and killed (Citizendia 2009)
These researchers also concluded that there are several ways that different sized banks can improve their profit efficiency: "Small banks can attain high profit efficiency by being older, by operating in markets with low default rates, by being independent of a holding company, by generating high fee income, by operating in a concentrated market, and by having more of their assets in loans as opposed to securities. Large banks that have high profit efficiency do so primarily by using more leverage since none of the other variables are significant" (Akhigbe & McNulty 2005:290)
Based on their analysis, Allen and Rai concluded that large banks in separated banking countries demonstrated the largest measure of cost inefficiency, representing 27.5 per cent of costs as well as significant levels of diseconomies of scale; by contrast, these researchers found that other banks experienced significantly lower cost inefficiency measures, in the range of 15 per cent of total costs with financial institutions in Japan, Australia, Austria, Germany, Sweden, and Canada being the most efficient while financial institutions in France, Italy, the United Kingdom, and the United States are the least efficient (Allen & Rai 1996)
Based on their analysis, Allen and Rai concluded that large banks in separated banking countries demonstrated the largest measure of cost inefficiency, representing 27.5 per cent of costs as well as significant levels of diseconomies of scale; by contrast, these researchers found that other banks experienced significantly lower cost inefficiency measures, in the range of 15 per cent of total costs with financial institutions in Japan, Australia, Austria, Germany, Sweden, and Canada being the most efficient while financial institutions in France, Italy, the United Kingdom, and the United States are the least efficient (Allen & Rai 1996)
For instance, Balling, Lierman and Mullinax report that, "A growing number of international comparative studies use banking system efficiency scores for various countries, including transition economies, to derive policy recommendations and analyze different aspects of financial structure architecture or performance" (2004:232). These authors also note that whatever analytical approach is used, there remains a lack of consensus concerning what types of input and output variables are most effective for determining efficiency in the banking sector (Balling et al
, presence of drive-in window or not in a banking network" (1986:1613). The data envelopment approach also significantly strengthens the credibility of the findings derived from such analyses (Banker & Morey 1986)
The results of the Berg et al. analysis found that the most efficient Swedish banks were the largest ones, and they concluded that these larger institutions were in a better position to expand in the future (Berg et al
The countries used in this analysis were France, Germany, Italy, Spain and the United Kingdom. All data were reported in ECU as the reference currency (Casu & Molyneux 2003)
In addition, the foreign banks that are operating in the Malaysian banking sector today provide the impetus for domestic banks to improve their efficiency in order to remain competitive. As Elyor concludes, "The comparatively more efficient foreign banks which adopt cutting-edge technology in their banking services create competitive pressure on the domestic banks, resulting in positive spill-over effects on the banking industry in general" (Elyor 2009:16)
A study by Fecher and Pestieu (1993) used a stochastic production frontier approach to analysis the technical efficiency of the financial services sectors for eleven Organization for Economic Co-operation and Development countries. These researchers used aggregate value-added, net of indirect taxes, as a metric for the respective country's financial services sector output, as well as employment in the financial services sector and capital (estimated by the perpetual inventory model) as their inputs (Fecher & Pestieu 1993)
These authorities are quick to point out, though, that, "The number of parameters to be estimated may become a problem in the stochastic frontier approach, however, especially in cases where there are large numbers of inputs and outputs. Specification of the error structure in the stochastic frontier approach is not straightforward, indeed, such specification introduces another potential source of error" (Fried et al
e., North America, Japan and Europe); the European banks studied by Fernandez and his associates were located in Austria, Belgium, Denmark, Finland, Germany, Ireland, Italy, Luxemburg, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom (Fernandez et al
Revenue includes net interest income (interest revenue less interest expenses) plus fee income" (2006:3). The second approach is to use the cash efficiency ratio that is calculated by deducting the amortization of intangible assets from noninterest expenses before calculating the efficiency ratio described above (Finneran 2006)
These authorities are quick to point out, though, that, "The number of parameters to be estimated may become a problem in the stochastic frontier approach, however, especially in cases where there are large numbers of inputs and outputs. Specification of the error structure in the stochastic frontier approach is not straightforward, indeed, such specification introduces another potential source of error" (Fried et al
Distribution of Malaysian bank credit for manufacturing, 1966-96 (per centage) Source: BNM Quarterly Economic Bulletin and Annual Report, various issues cited in Lee 2003: 111 As shown in the series of figures above, the emphasis on the security of loans has meant that Malaysian banks have preferred to extend loans to the real property sector as well as for share purchases and consumption instead of production during periods in which the property and stock markets have been upward moving. In fact, only about 25 per cent of Malaysian commercial bank loans were extended to agriculture, manufacturing and other industries that produced outputs (Griffith-Jones, Gottschalk & Cailloux 2003)
K. banks are found to be relatively inefficient in all the studies (Karim 2001)
In his book, Financial Liberalization and the Economic Crisis in Asia, Lee (2003) states that compared with other developing countries, Malaysia has a highly developed financial system with its history dating back to the 18th and 19th century British colonial era. Not surprisingly, being one of the legacies of the country's colonial era, the modern Malaysian financial system follows the Anglo-American system in which Malaysian banking operations are limited to accepting deposits, issues loans and other financial services activities that are characteristic of the Anglo-American model (Lee 2003), but this traditional role has expanded in recent years