Institutions and Economies <div align="justify"> <p>Institutions and Economies is a peer reviewed journal published by the Faculty of Business and Economics (formerly Faculty of Economics and Administration), University of Malaya. The journal is published four times a year, in January, April, July and October. The journal publishes research articles and book reviews. Only original articles that are not under consideration by other publishers are welcome. Special issues are also welcome but interested special issue editors must submit a proposal to the Editor-In-Chief for consideration. The journal is indexed in SCOPUS, IDEAS, MYCite, ECONPapers, ASEAN Citation Index (ACI), EBSCO and Asian Digital Library. Institutions and Economies is a recipient of the CREAM Award 2016 by the Ministry of Higher Education Malaysia.</p> <p>Print ISSN: 2232 - 1640<br />E - ISSN: 2232 - 1349 </p> <p> </p> <p><strong>Peer Review Statement </strong></p> <p><strong><em>All research articles in the journal have undergone rigorous peer review. The process consists of an initial screening by the</em> <em>Editor-In-Chief, Deputy Editor and</em><em> Associate Editors, followed by double-blind refereeing: two reviewers for articles. Articles in special issues go through double-blind refereeing and one internal review by the Editorial Board. </em></strong></p> <p><strong><br />IMPORTANT ANNOUNCEMENT</strong></p> <p>There will be a <strong>publication fee of USD100/- for accepted papers only (papers that have undergone the double-blind review process)</strong> to partially cover the expenses of copy editing of accepted manuscripts. <strong>Payment of the publication fee should only be made after acceptance of a manuscript.</strong> </p> <p><strong>Note: Submissions from 1/1/2024 and that have been accepted for publication after the double-blind review process will be subject to a publication fee of RM500/-.</strong></p> <p>The detailed information of the payment process can be seen <a href="">here</a>. Payment of the publication fee can be done at this <a href="">website</a>.</p> <p> </p> </div> <div class="SnapLinksContainer" style="margin-left: 0px; margin-top: 0px; display: none;"> <div class="SL_SelectionRect"> <div class="SL_SelectionLabel" style="right: 2px; bottom: 2px;">0 Links</div> </div> <!-- Used for easily cloning the properly namespaced rect --></div> <div class="SnapLinksContainer" style="margin-left: 0px; margin-top: 0px; display: none;"> <div class="SL_SelectionRect"> </div> <!-- Used for easily cloning the properly namespaced rect --></div> en-US <p>Submission of a manuscript implies: that the work described is original, has not been published before (except in the form of an abstract or as part of a published lecture, review, or thesis); that is not under consideration for publication elsewhere; that its publication has been approved by all co-authors, if any, as well as tacitly or explicitly by the responsible authorities at the institution where the work was carried out. Transfer of copyright to the University of Malaya becomes effective if and when the article is accepted for publication. The copyright covers the exclusive right to reproduce and distribute the article, including reprints, translations, photographic reproductions, microform, electronic form (offline and online) or other reproductions of similar nature.<br />An author may self-archive the English language version of his/her article on his/her own website and his/her institutions repository; however he/she may not use the publishers PDF version which is posted on Furthermore, the author may only post his/her version, provided acknowledgement is given to the original source of publication and a link must be accompanied by the following text: The original publication is available at</p> <p>All articles published in this journal are protected by copyright, which covers the exclusive rights to reproduce and redistribute the article (e.g. as offprint), as well as all translation rights. No material published in this journal may be reproduced photographically or stored on microfilm, in electronic database, video disks, etc., without first obtaining written permission from the publishers. The use of general descriptive names, trade names, trademarks, etc., in this publication, even if not specifically identified, does not imply that these names are not protected by the relevant laws and regulations.</p> <p>The copyright owners consent does not include copying for general distribution, promotion, new works, or resale. In these cases, specific written permission must first be obtained from the publishers.</p> (Institutions and Economies) (Institutions and Economies) Mon, 01 Jan 2024 17:49:02 +0800 OJS 60 Exploring the Mediating Effect of Resilience on Working Adults' Life Satisfaction in a Malaysian Metropolitan Context <p>Reported low levels of life satisfaction are concurrent with the rising level of<br>environmental and social pressures in many metropolitan regions. This study considers<br>financial literacy, health status, financial situation, public policy, and educational<br>attainment to explore the mediating effect of resilience on life satisfaction among working<br>adults in Kuala Lumpur, Malaysia. A self-administered questionnaire was designed<br>and distributed to working adults aged between 20 and 39 years. A total of 384 usable<br>questionnaires were obtained with an 85.33% response rate. Using partial least square<br>structural equation modelling (PLS-SEM), our results provide two notable findings.<br>First, individuals who have better financial literacy tend to make decisions by adopting<br>a variety of financial strategies. In turn, their financial stability can lead to better<br>life satisfaction. Second, resilience appears to partially mediate the effects of financial<br>literacy, financial situation, health status and educational attainment on individuals’ life<br>satisfaction. Practically, this study will help the government better equip communities for<br>adults in the places in which they live. A more nuanced understanding of the underlying<br>structure of the economic system should be focused on to design more enlightened policies<br>that promote resilience.</p> Kai-Ying Bee, You-How Go, Chuan-Chew Foo Copyright (c) 2024 Mon, 01 Jan 2024 00:00:00 +0800 Are Institutions Improving the Contribution of Remittances to Economic Growth? A Panel Data Analysis <p>This paper is to test the hypothesis that better governance can improve the <br>response of remittances on economic growth. Using panel data for 12 Middle East and <br>North Africa (MENA) countries over the period of 2002 to 2020, the various estimates <br>were carried out by the system generalised method of moments (GMM) method to <br>examine the problem of endogeneity, and unobserved heterogeneity. The results indicate <br>that migrant remittances have a direct negative link to economic growth due to it being <br>mainly used for consumption. This increases the likelihood of dependency, which leads to <br>the reduction of labour supply. The joint relationship between the governance composite <br>index, and remittances, may moderate this negative effect on economic growth. However, <br>considering the individual dimensions of governance, this shows that only the interaction <br>between remittances and the control of corruption gives a positive and significant impact. <br>The interaction between remittances and the five other governance quality indicators <br>appears to be negative and insignificant. This shows that political instability, ineffective <br>government, and poor regulatory quality encourages money transfer through informal <br>channels that thwart economic growth in MENA countries.</p> Hajer Habib Copyright (c) 2024 Mon, 01 Jan 2024 00:00:00 +0800 Cross-Sectional Analysis of Expenditure on Fruits and Vegetables: A Comparison Between Low-Income and High-Income Households <p>The present study is the first to our knowledge to use quantile regressions <br>to explore the effects of sociodemographic and household factors on consumption <br>expenditure on fruits and vegetables (FV) among households of different income groups. <br>Data from the Malaysian Household Expenditure Surveys 2014 and 2016 were used for <br>pooled cross-sectional analyses. Quantile regressions were utilised to examine factors <br>affecting household expenditure on FV at different ranges of the expenditure. Results <br>showed that low-, medium- and high-income households headed by younger adults (&lt; <br>60 years), females, less-educated individuals, Bumiputera and unemployed individuals <br>spent less on FV compared with those headed by older adults (≥ 60 years), males, welleducated individuals, non-Bumiputera and employed individuals. Furthermore, there <br>were positive relationships between quantiles of FV expenditure and household income, <br>rural households, tobacco consumption, and health insurance spending. In conclusion, <br>household heads’ sociodemographic characteristics and household profiles play an <br>important role in influencing household expenditure on FV. Findings obtained in the <br>present study can assist policymakers in formulating better intervention measures and <br>assistance directed toward improving FV intake. Policymakers could consider subsidising <br>FV purchases and promoting FV consumption among female-headed households. <br>Additionally, health awareness programmes could target urban households with single <br>and less-educated heads.</p> Yong Kang Cheah, Tin Tin Su, Azira Abdul Adzis Copyright (c) 2024 Mon, 01 Jan 2024 00:00:00 +0800 Positioning Bank Managers for Entrepreneurship: The Importance of Personal and Job Attributes <p>The entrepreneurial nature of a bank determines its survivability. Thus, bank <br>managers’ entrepreneurial behaviour plays an important role. Research on the predictors <br>of managers’ entrepreneurial behaviour, particularly in the Malaysian service industries, <br>are essential, yet they are scarcely available. Results of a survey of 271 managers in <br>this study indicate that self-esteem, proactive personality, and job autonomy had a <br>positive relationship with entrepreneurial behaviour. Interestingly, in relative terms, <br>job autonomy holds a larger effect compared to personal attributes, such as self-esteem, <br>and a proactive personality. Overall, this study is useful for aiding policymakers and <br>practitioners in their efforts to understand the concept of entrepreneurial behaviour, <br>which relies on the potential of personal, and job attributes, of managers in the banking <br>sector. Finally, the study provides practical implications for human capital and <br>organizational behaviour.</p> Nurul Liyana Mohd Kamil Copyright (c) 2024 Mon, 01 Jan 2024 00:00:00 +0800 Key Determinants of for-Profit Micro Finance Institutions Credit: A Study on Rural Manufacturing Households <p>The pathetic condition of Indian agriculture speaks volumes about the distress <br>in its rural economy. Manufacturing activity, though providing hope, is constrained <br>by the availability of credit. From social banking to for-profit micro finance institutions <br>(MFIs), the rural economy has witnessed a sea change in the public provisioning of credit. <br>The phenomenal growth of for-profit MFIs in recent years is associated with growing <br>concerns over their unethical practices and exploitation of the rural poor. The present <br>study attempts to trace the factors that influence rural households’ dependence on forprofit MFI credit, despite the abovementioned concerns. The study is based on a primary <br>survey and uses logit and probit models. The estimated results suggest that the factors <br>like access to bank credit and household poverty factors—such as per capita income, <br>number of male workers, and the existence of wage labour—significantly influence the <br>probability of accessing for-profit MFI credit. Accordingly, the present study proposes <br>remedial policies like the expansion of scheduled commercial banks (SCBs) and not-forprofit MFIs, apart from strict regulation of for-profit MFIs.</p> B. B. Mohapatra, Aman Singh, A Jiran Meitei Copyright (c) 2024 Mon, 01 Jan 2024 00:00:00 +0800