The awareness among working individuals in Malaysia to do extra savings for older life is still minimal. This situation involved the younger generation. They think that retirement planning is a burden for them because it involves long-term planning. Nevertheless, the uncertainty and unaware about future risks (inflation, critical illness, etc) may lead to this behavior. Due to such problems, this study aims in discussing the behavior among working individuals on retirement savings at different age of group, education levels, income levels, factors affecting this behavior a and the relationship of these factors towards retirement savings attitude. This study will use survey strategy through questionnaire to collect the primary data (qualitative study). More than 200 individuals participate in this study and each of them is asked to response the questionnaire form to represent population in Malaysia. As such, this study employs several statistical procedures such as factor analysis, t-test, analysis of variance and regression models. The findings of this study reveal that income levels, attitudes towards retirement and future expectation provide significant impact on the retirement savings behavior among adults in Malaysia.

Problems arise in testing the stationarity of the panel in the presence of cross sectional dependence and outliers. The currently available panel unit root tests are very much affected by the presence of outliers. As such, this article introduces an alternative test which is robust to outliers and cross sectional dependence. The performance and robustness of the proposed test is discussed and comparisons are made to the existing tests via simulation studies.

The existence of market anomalies for the return reveals the inefficiency in the market that could affect investor investment strategy, portfolio selection, and profit management. It is due to the unpredictable movement of the stock market return that will affect the decision of investors later. As such, this study intends to investigate day of the week effect, a month of the year effect, and a quarter of the year effect on the Malaysian Stock Exchange, namely the Kuala Lumpur Composite Index (KLCI) on data from 2nd January of 2015 until 31st December 2018. Based on the findings from Generalized Autoregressive Conditional Heteroskedasticity (GARCH) model analysis, it is found that the daily effect on returns was insignificant. Possible reasons for the insignificant return could be due to the lack of time-series data. However, the significant monthly effect on returns of May, November, and December while the quarterly effect on the returns is found significant in the first quarter. This study also concludes that volatility shock is persistent in the returns for all those three market anomalies.

This paper investigates the stationarity behavior of the ex-post real interest rates (RIRs) for 12 Asian countries. Formal tests conducted indicate that high persistence is an intrinsic characteristic in the majority of the RIRs. We consider local-persistent model to assess the degree of persistence in these series. The findings from this devise reveal that RIRs are persistent, but are characterized by a mean-reverting process. The consistency of the persistence comparable amongst the series is confirmed after accounting for the volatility of the consumption growth. Applying a test proposed by Leybourne et al. (2007a) that allows for long memory dynamics, we reconfirm the characteristic of the series. Building on previous studies, this paper provides favorable support for the long-run Fisher hypothesis and help to solve an intertemporal consumption behavior puzzle across the emerging and advanced countries. Finally, the results for the G-7 countries are presented for comparison.

Retirement savings decision is related to the individual judgment on savings planning, and preparation for the retirement. Several factors may affect this decision towards retirement savings. Some of them are demographic factors and other determinants, such as financial knowledge and management, future expectation, social influences and risk tolerance. Due to this interest, this study aims to impact of such factors on retirement savings decision. Furthermore, this study will also discuss the retirement savings decision among Malaysians at different age groups. The data were collected through a survey strategy by using a set of questionnaires. The questions were divided into several sections on the demographic profile, Likert-scale questions on the factors, and the retirement savings decisions. The technique sampling used in this study is a random sampling with 385 respondents. As such, several statistical procedures will be utilized such as the reliability test, Kruskal-Wallis H test, and the ordered probit model. The results of this study found that age, financial knowledge and management, future expectation, and social influences were the significant determinants towards retirement savings decision in Malaysia.