Sharifah Heryati Syed Nor’s research while affiliated with MARA University of Technology and other places

According to the Insolvency Department of Malaysia, as of December 2023, 233,483 Malaysians are currently involved in bankruptcy cases due to their defaults on hire purchase loans, credit card loans, personal loans, housing loans, and business loans. This is indeed a critical issue because the growing number of personal bankruptcy cases will hurt the Malaysian economy as well as society. From an individual's economic perspective, bankruptcy minimizes their chances of getting a job. Apart from that, their accounts will be frozen, they will lose control of their properties and assets, and they will not be allowed to start any business or be a part of any company's Board of Directors. Bankrupts also will be rejected from any loan application. This paper examines this problem by developing a personal bankruptcy prediction model using the logistic regression technique. This paper defines "bankrupt" as terminated members who failed to settle their loans. The sample comprised 24,546 cases with 17% settled cases and 83% terminated cases. The data included a dependent variable, i.e., bankruptcy status (Y=1(bankrupt), Y=0(non-bankrupt)), and 12 predictors. Upon completion, this paper succeeds in coming out with a reliable personal bankruptcy prediction model and significant variables of personal bankruptcy. The findings of this paper are very beneficial and significant to creditors, banks, the Malaysia Department of Insolvency, potential borrowers, members of AKPK, and society in general in raising awareness of personal bankruptcy risks and such information may help them to take preventive measures in minimizing the number of personal bankruptcy cases.

This study aims to assess the reliability and validity of a questionnaire designed to measure the impact of social trust, social networks, and financial innovation on the financial well-being of micro-entrepreneurs in Malaysia. Employing a descriptive research design and a cross-sectional approach, data were collected from 140 micro-entrepreneurs, with the questionnaire serving as the primary research instrument. The findings reveal strong internal consistency within the factors under investigation, underscoring the robustness of the questionnaire. Additionally, insights into the demographic profile of micro-entrepreneurs offer a valuable understanding of their characteristics and operational dynamics. The implications of this study extend to policymakers, industry stakeholders, and researchers, providing actionable insights to support the sustainability and resilience of micro-entrepreneurs. Overall, this research contributes to advancing knowledge in the areas of social trust, social networks, and financial innovation concerning the financial well-being of micro-enterprises. It holds significant implications for fostering economic growth, reducing inequalities, and promoting inclusive development in Malaysia.

The acquisition of financial literacy is crucial in facilitating improved financial decision-making and promoting the long-term financial stability of individuals, families, and the nation as a whole. It is anticipated that increased levels of financial literacy, particularly among younger cohorts, will result in enhanced economic indicators, improved payment records, and more sustainable levels of debt for both people and the nation. The attainment of a high quality of life is of paramount importance for Malaysia's progression towards achieving the status of a developed nation. However, it is worth noting that a significant proportion of Malaysians, specifically one out of every three individuals, perceive their level of financial awareness to be relatively low. Moreover, a significant disparity exists in the level of financial literacy among 15-year-old pupils in OECD and partner countries, such as Malaysia. This study attempts to explore conceptually the relationship between financial literacy and its impacts on financial scams among university students. This study will increase the level of financial literacy among Malaysians before embarking on any financial investments.

The financial well-being of micro-entrepreneurs is a multifaceted concept that encompasses both financial stability and personal satisfaction with one's financial situation. The pandemic experienced by the country has affected people from all walks of life, including micro-entrepreneurs. These self-employed people not only scored the lowest when it comes to financial behaviors but they are also the most vulnerable in terms of financial well-being. This study intends to fill a gap in the literature by looking at the factors that influence micro-entrepreneurs' financial well-being in Malaysia. A systematic review of reviews was conducted through electronic databases between January 2018 and December 2022 using refined search methods, such as the Boolean operator, phrase searching, truncation, wild card, and field code functions, based on enriched keywords: ("FINANCIAL WELL-BEING*" OR “FINANCIAL WELLBEING) AND ("MICRO-ENTREPRENEUR* OR “MICRO-ENTERPRISE*"). Scopus and Web of Science were selected as the two primary databases to search for relevant articles and materials for the review. The results demonstrate the incorporation of several variables into the proposed framework of financial well-being of micro-entrepreneurs, namely social trust, social networks, financial self-efficacy, and financial innovation as a mediator. The proposed framework is derived from the Social Capital Theory and the Social Cognitive Theory, as well as reviews of past empirical studies.

Purpose Personal bankruptcy is on the rise in Malaysia. The Insolvency Department of Malaysia reported that personal bankruptcy has increased since 2007, and the total accumulated personal bankruptcy cases stood at 131,282 in 2014. This is indeed an alarming issue because the increasing number of personal bankruptcy cases will have a negative impact on the Malaysian economy, as well as on the society. From the aspect of individual’s personal economy, bankruptcy minimizes their chances of securing a job. Apart from that, their account will be frozen, lost control on their assets and properties and not allowed to start any business nor be a part of any company’s management. Bankrupts also will be denied from any loan application, restricted from travelling overseas and cannot act as a guarantor. This paper aims to investigate this problem by developing the personal bankruptcy prediction model using the decision tree technique. Design/methodology/approach In this paper, bankrupt is defined as terminated members who failed to settle their loans. The sample comprised of 24,546 cases with 17 per cent settled cases and 83 per cent terminated cases. The data included a dependent variable, i.e. bankruptcy status (Y = 1(bankrupt), Y = 0 (non-bankrupt)) and 12 predictors. SAS Enterprise Miner 14.1 software was used to develop the decision tree model. Findings Upon completion, this study succeeds to come out with the profiles of bankrupts, reliable personal bankruptcy scoring model and significant variables of personal bankruptcy. Practical implications This decision tree model is possible for patent and income generation. Financial institutions are able to use this model for potential borrowers to predict their tendency toward personal bankruptcy. Social implications Create awareness to society on significant variables of personal bankruptcy so that they can avoid being a bankrupt. Originality/value This decision tree model is able to facilitate and assist financial institutions in evaluating and assessing their potential borrower. It helps to identify potential defaulting borrowers. It also can assist financial institutions in implementing the right strategies to avoid defaulting borrowers.