Abstract
The objectives of Halal Industry Master Plan (2008 – 2020) are to serve Malaysia as the global reference centre for Halal integrity know-how and being the global leader in the innovation, production and trade of a number of halal-related sectors. This paper aimed at Halal Consumption Pattern Determinants in Malaysia. The direct determinants of the halal consumption pattern are Muslim lifestyle, risk perception and trust. The determinants of Muslim lifestyle are perceived behavioural control, government policy and religiosity. Additionally, Muslim lifestyle predicts risk perception and trust. The total of 244 data was collected from Muslim consumers in Muslim population Malaysia which stratified from the five Malaysian regions: Central, North, South, Eastern peninsular and East Malaysia presented by Johor, Wilayah Persekutuan, Kedah, Kelantan and Sabah. The data was analyzed through SPSS and Partial Least Square (SEM-PLS). The finding indicated that all the direct relationships were significant except for the government policy towards Muslim Lifestyle and Risk Perception towards Halal Consumption pattern. The sequential mediating effect of religiosity shows significant result while others were not significant. The model had explained 42.2% of Halal Consumption Pattern (r2=0.422). The implication of the finding was discussed therein.
Highlights
The proliferation of fictitious profits in the lead-up to the financial crisis, since the onset of the financial crisis of 2007-2018 and the resulting Great Recession, radical political economists have debated the role of profitability in what has been the most severe systemic crisis of global capitalism since the 1930s (Smith and Butovsky, 2012)
The research findings are in line with the agency theory, audit committee financial expertise is found to have a significant positive influence on profitability
COE and foreign ownership have a positive influence on profitability
Summary
The proliferation of fictitious profits in the lead-up to the financial crisis, since the onset of the financial crisis of 2007-2018 and the resulting Great Recession, radical political economists have debated the role of profitability in what has been the most severe systemic crisis of global capitalism since the 1930s (Smith and Butovsky, 2012). If companies do not worry about agency conflicts, they might face the problem of profitability or insolvency at large These agency conflicts predominantly occur in modern companies as a result of the separation concerning ownership and management (Berle and Means, 1932); (Jensen and Meckling, 1976). The incentive alignment theory advocates that more equity ownership by the manager may increase corporate performance because it means better alignment of the monetary incentives between the management and other equity owners (Jensen and Meckling, 1976). This paper examines the interactive role of audit committee financial expertise on the relation concerning ownership structure and profitability for Nigerian listed financial institutions
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