Previous MFA Best Paper Award Winners

Year Author(s) Title Affiliation(s)
2024 Evelyn Yee-Foon Kong & Kin-Boon Tang Unveiling The Role of Market Sentiment in Explaining Malaysian IPO Aftermarket Share Performance University of Nottingham Malaysia
2024 Pu Tingqian The Driving Force Behind Corporate R&D Expenditures: Evidence from Digital Transformation Universiti Sains Malaysia
2024 Song Yuxi & Ruzanna Ab Razak The Impact of Technological Convergence in Digital and Real Industries on the New Quality Productive Forces: Evidence from Chinese Listed Companies Universiti Kebangsaan Malaysia
2023 Evelyn Yee-Foon Kong & Kin-Boon Tang Does Malaysian IPO Investors Influenced by Sentiment Factors or Fundamental Factors? University of Nottingham Malaysia
2023 Tze-Haw Chan, Abdul Saqib & Agustin Isnaini Nuzula Assessing the Carbon Footprints of Income Growth, Green Finance, Institutional Quality and Renewable Energy Consumption in Emerging Asian Economies USM
2023 Yee-Ee Chiaa Exploring Threshold Effect of Board Size on Firm Value: Does Size Matter? UMS
2022 Fatima Saleh Abd Almajeed Al-Hamshary, Akmalia M. Ariff, Khairul Anuar Kamarudin & Norakma Abd Majid Corporate Risk-Taking and Cash Holdings: The Moderating Effect of Investor Protection UMT & University of Wollongong, UAE
2022 Yusuf Adeneye, Fathyah Hashim, Yusuf Babatunde Rahman & Normaizatul Akma Saidi Covid-19 Dynamics and Financing of Cash Flow Shortages: Evidence from Firm-level Survey UMK, USM & Lagos State University, NG
2022 Ling-Foon Chan, Calvin W. H. Cheong & A. N. Bany-Ariffin Corporate Diversification of Real Estate Investment Trusts (REITs) in a Post-Pandemic World: Lessons from Malaysia and Singapore Sunway & UPM
2021 Bolaji Tunde Matemilola, Suleiman Ahmed Badayi, Amin Noordin Bany-Ariffin Impact of Governance Quality on Default Risk of Socially Responsible Firms: International Evidence UPM & Jigawa State Polytechnic, NG
2021 Saw Imm Song, Jennifer Tunga Janang, Erimalida Yazi, Fareiny Morni The Effects of Market Strength, Information Asymmetry, and Industrial Characteristics on Malaysian Firms’ CAR During COVID-19 Pandemic UiTM
2021 Yew-Choe Lum, Teresa Wei-Lin Tan & Khar-Mang Tan Forecasting Stock Prices in ASEAN Using Traditional and Deep Learning Models Xiamen University Malaysia
2020 Ray Anthony L. Almonares Degree of Internationalization and Firm Value: Evidence from Japanese Banks Thammasat University, TH
2020 Ignatius Roni Setyawan & Buddi Wibowo Does Entropy Index Explain the Determinant of Capital Market Integration in ASEAN? Tarumanagara University & Universitas Indonesia, ID
2020 Bolaji Tunde Matemilola & Mohamed Azali Interaction Impact of Monetary Policy and Inflation on Corporate Debt in Developing Nations UPM
2020 Liang Ye & Yeng-May Tan Noise Trader Risk-Evidence from China’s Stock Market Xiamen University Malaysia
2019 Akmalia M. Ariff & Khairul Anuar Kamarudin Institutional Quality, Tax Avoidance, and Analysts’ Forecast: International Evidence UMT & UiTM
2019 Oi-Ping Chong, A.N. Bany-Ariffin, Annuar Md Nassir & Junaina Muhammad An Empirical Study of Herding Behaviour in China’s A-Share and B-Share Markets: Evidence of Bidirectional Herding Activities UPM & Xiamen University Malaysia
2019 Samuel Jebaraj Benjamin Audit Fees and Financial Constraints University of Waikato, NZ
2018 Bolaji Tunde Matemilola, Bany-Ariffin A. N. & Annuar Md. Nassir Interaction Effects of Country-Level Governance Quality and Debt on Stock Returns in Developing Nations UPM
2018 Nurhazrina Mat Rahim & Ruhani Hj. Ali The Role of Country-Level Differences in Influencing ASEAN Firms’ Cross-Border Mergers and Acquisitions Success UiTM & USM
2018 Mohsen Jafarian, Fauzias Mat Nor & Izani Ibrahim The Relative Importance of Cash Flow News and Discount Rate News at Driving Stock Price Change UKM, USiM & Prince Sultan University, KSA
2017 Ahmad Fawwaz Mohd Nasarudin, Bany Ariffin Amin Noordin, Siong Hook Law & Mohd Hisham Yahya Investigation of Herding Behaviour in Developed and Developing Countries: Does Country Governance Factor Matters? UPM
2017 Wai-Mun Har, Ai-Lian Tan, Chong-Heng Lim & Chai-Thing Tan Does Interest Rate Still Matter in Determining Exchange Rate? UTAR
2017 Abdolhossein Zameni & Othman Yong Substantial Shareholders and Their Trading Behaviour around Lock-Up Expiry: Evidence from Emerging Markets UKM
2016 Hanandewa & Fauzias Mat Nor Does Manager’s Perceived Competition Affect the Capital Structure Decisions of Malaysian Firms? A Text Mining Approach on the Chairman’s Statement UKM
2016 Suan Poh & Chee-Wooi Hooy Effect of Geographical Diversification on Informational Efficiency in Emerging Countries USM
2016 Raymond Leh Bin Ling & Jeng Yuan Chia Portfolio Diversification Strategy in the Malaysian Stock Market UTAR
2015 Fahad Alshathri, J. Richard Aronson & Nandkumar Nayar Municipal Credit Ratings and Unfunded Pension Liabilities: New Evidence Ministry of Finance, KSA &  Lehigh University, USA
2015 Norliza Che-Yahya, Ruzita Abdul-Rahim & Rasidah Mohd-Rashid Impact of Lock-Up Provision on Two IPO Anomalies in the Immediate Aftermarket UiTM, UKM & UUM
2015 Aftab Parvez Khan, Obiyathulla Ismath Bacha & Abul Mansur Mohammed Masih Performance and Trading Characteristics of Exchange Traded Funds: Developed vs Emerging Markets INCEIF & Taylor