ISSN 2682 - 8278

Publication Frequency: Annually (Manuscripts are accepted and published through-out the year)

Economic, Finance, Business and Management is an international, open access multidisciplinary journal that welcomes publication in all areas of economy, finance, business and management. Submissions include research articles reviews and opinions. The broad focus of the journal is meant to encourage collaboration between researchers and the diverse research in the areas of economics and finance, finance and business, business and management and hopes that the outcome will be beneficial to the community and their stakeholders.

Authors are also encouraged to submit manuscripts that focusses on the innovation and future development such as bitcoin and cryptocurrency, data analytics for business. Papers that are looking at new techniques or methods, recent crises or economic sustainability are also very much welcomed.

Your submissions can include but not limited to some of these areas: Islamic banking practices, Islamic wealth planning and management, risk management in Islamic financial institutions, regulation of banks, comparative financial system, portfolio theory, capital asset pricing model, capital market efficiency, forecast evaluation, financial market correlation, asset allocation decisions, capital structure, risk management in banking, risk hedging, bond valuation, stock valuation, derivative pricing, structured finance, financial analysis, fund management and investment, corporate governance, development economics, public finance and fiscal policy, labour economics, economic policy analysis, environmental economics and policy, the economics of climate change, international trade, microfinance, world food economy, financial economics, market design, behavioural economics, strategy and structure of international business, business ethics, performance management, organizational theory and behaviour, operations management, global leadership, family business, innovation and design thinking, women in management, global marketing, digital marketing and social media, brand management and marketing analytics.



Economic, Finance, Business and Management is an international, open access multidisciplinary journal that welcomes publication in all areas of economy, finance, business and management. Submissions include research articles, reviews and opinions.

Submissions can include:

  1. Research Article: Original research from basic research, non-clinical, pre-clinical, clinical and related biological sciences. There are no minimum sets of results, experimental protocols or data required. Our top priority is that the research even if it’s a single experiment, is conducted through rigorous and acceptable scientific testing and methodologies, are novel and original.
  2. Review: Reviews consist of a comprehensive analysis of existing literature on a specific topic, including presentation of current findings from published literatures. Reviews can be in a form of literature reviews, meta-analysis or systematic reviews.
  3. Opinion: This article type is the expert opinion of an author or authors on an area of interest.

Authors can present their perspective or interpretation or reviews on an article or data presented within and at the same time discuss in a broader term how the area of research can be further improved, explored and investigated.

Your submissions can include but not limited to some of these areas:

  1. Islamic banking practices
  2. Islamic wealth planning and management
  3. Risk management in Islamic financial institutions
  4. Regulation of banks
  5. Comparative financial system
  6. Portfolio theory
  7. Capital asset pricing model
  8. Capital market efficiency
  9. Forecast evaluation
  10. Financial market correlation
  11. Asset allocation decisions
  12. Capital structure
  13. Risk management in banking
  14. Risk hedging
  15. Bond valuation
  16. Stock valuation
  17. Derivative pricing
  18. Structured finance
  19. Financial analysis
  20. Fund management and investment
  21. Corporate governance
  22. Development economics
  23. Public finance and fiscal policy
  24. Labour economics
  25. Economic policy analysis
  26. Environmental economics and policy
  27. Economics of climate change
  28. International trade
  29. Microfinance
  30. World food economy
  31. Financial economics
  32. Market design
  33. Behavioural economics
  34. Strategy and structure of international business
  35. Business ethics
  36. Performance management
  37. Organizational theory and behavior
  38. Operations management
  39. Global leadership
  40. Family business
  41. Innovation and design thinking
  42. Women in management
  43. Global marketing
  44. Digital marketing and social media
  45. Brand management and marketing analytics


Economics, Finance, Business and Management is currently indexed by Google Scholar and MyJurnal. MyJurnal is the Malaysian Citation Centre (Ministry of Education, Malaysia).


Economics, Finance, Business and Management is an Open Access journal. To allow global audience access to the manuscripts we publish, and to ensure every segment of the population has free and unimited access to these resources, we work hard to keep the cost of the entire publication process as minimum as possible.

In fact, at the moment, the cost is being absorbed by voluntary efforts of individuals as well as the publisher. We are committed to continue this tradition.

We will be introducing the Article Processing Charge at some point, especially when more resources are needed processing accepted manuscripts. We will not be charging for submission or reviews, but only for those accepted manuscripts. We want to ensure when there are fees, it will be kept at a minimal amount.

However, until further notice, the article processing charge (APC) for all accepted manuscripts are WAIVED and FREE.


Macroeconomic Factors and Stock Price in Malaysia

Stock prices move every seconds, up and down, and it never waits for an investor to make a decision. Investors, economists and the policy makers needs to understand the macroeconomic factors that influences the stock price as the factors plays a critical role in shaping the stock market. Furthermore, economists and policy makers should know how to react when the factors change, while investors should understand whether or not they should invest their money. Seven macroeconomic variables were collected for this study, which is the earnings per share, lending interest rate, consumer price index, gross domestic product, average crude oil price, dividend per share, and narrowed money supply (M1). However, due to strong correlation among the variables, earnings per share, gross domestic product, the average crude oil price, and narrowed money supply is excluded in regression model. Dividend per share, consumer price index, and lending interest rate is used in this study. The results of this paper reflected that gross domestic product, oil price and money supply are strongly correlated; inflation is statistically significant and positively influence the stock price, and finally the lending interest rate negatively influence the stock price.

Management Style in Retaining Loyal Customers and Quality of Products: A Case Study of Starbucks

The success of the coffee company in influencing the people’s preference in buying coffee is something that could grab the attention of everybody. Customers are willing to spend a high amount of money for a cup of coffee simply because of the quality of the products and brand image that the company offers. With their loyal customers, it has always been Starbucks best way of advertising the brand or their coffee by word-of-mouth. Despite having loyal customers because they have passion for coffees, Starbucks still find its way to retain their loyal customers with improvised strategies and upcoming promotions.

Financial Risk Tolerance: Malaysia

Financial risk tolerance (FRT) is a matter adamant in understanding the underlying issues of financial decisions, in that, it is an important component of investment. The demographic variables; age, gender, income level and birth order are explored in this study to see if there are any significant differences across each of the variables. This study indicates the need for further contribution to the literature of financial risk tolerance in Malaysia as location differential herald different culture and environment, thus, different constituent of financial risk tolerance factors.

Risk and Return Evaluation of Malaysian Mutual Fund Market

Mutual funds are growing tremendously in Malaysia. Many investors have no time to select individual stocks or bonds in the market due to limited time, money and knowledge. Hence, mutual fund has to show up as a useful and preferred investment tool in the Malaysian market. Ten portfolios were chosen from two prominent mutual fund companies in Malaysia. Performance evaluation and risk measurements were applied to understand the performance of each portfolio. Paired T-test was tested on two portfolios with 45 individual stock in each portfolio. The result was rather intriguing as what was initially expected. There appear to be a difference in terms of decision when applying fundamental measurement using existing concept and measures such as Sharpe and Treynor. To conclude, there is no significant difference in items of risk and return performance in Conventional and Islamic mutual funds. However, further validation can be done with larger sample size or portfolio.

The Determinants of Capital Structure in Malaysian Companies

In Malaysia, organization take a gander at the association between capital structure and market structure, particularly advantage. The current financial crisis has put awesome weight on residential and worldwide firms, particularly failing to meet firms’ expectations. The supply of credit has dropped drastically, while expanded hazard and an expanded cost of capital weight firms in finding the correct value of firm. Capital structure has been the subject of numerous surviving investigations, in which analysts intend to archive the connection between capital structure and firm performance. From a company's point of view, finding and working at the ideal capital structure could be useful. Capital structure essentially influences the cost and accessibility of capital, which thus will likewise influence a company's performance. For this study, 90 listed companies were chosen from five various industries for the period 2014 to 2017. This research has included six independent variables includes profitability, tangibility, firm size, growth, age and liquidity. The results indicate that profitability, tangibility and age are the key determinants of capital structure decision in Bursa Malaysia listed companies.


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As part of the submission process, authors are required to check off their submission's compliance with all of the following items, and submissions may be returned to authors that do not adhere to these guidelines.

  • The submission has not been previously published, nor it is under review / considered for publication in any other journal (or an explanation has been provided in Comments to the Editor).
  • The submission file is in OpenOffice or Microsoft Word.
  • Where available, URLs for the references have been provided.
  • The text is 1.5 spaced; uses a 10-point Calibri font; employs italics, rather than underlining (except with URL addresses); and all illustrations, figures, and tables are placed within the text at the appropriate points, rather than at the end.
  • The text adheres to the stylistic and bibliographic requirements outlined in the Author Guidelines.
  • The author(s) confirm that they have full permission for the use of images, formulas, chemical structures and any other copyright materials from their rightful owners. The author(s) also agree to accept full responsibility for the use of these copyright materials and will not hold the Journal and its Publisher responsible for any claims arising from the use of these materials.
  • The authors and all contributors including financiers agree to the Terms & Conditions of the Publisher. The open access article will be distributed based on the terms and conditions of the Creative Commons Attribution (CC BY) license


Author Guidelines

You are required to follow the guidelines below for manuscript submission to the Journal of Economics, Finance, Business and Management.

  • Your manuscript must be submitted in a single Microsoft Word document, together with all figures, diagrams and images.
  • In general, the body of your manuscript must contain introduction, materials and methods, results, discussion, conclusion, acknowledgement, disclosures and references. Sections and sub-sections must be numbered systematically.
  • Figures / diagrams / images must be embedded in the manuscript and must appear immediately after it is mentioned in the text. Images must be in image format (JPEG).
  • You can also additionally attach a PDF file of all your figures in one file. Ensure all figures are saved in high resolution for clarity.
  • All figures must be supported by a caption. Captions must be provided separately and not saved together with the images. The captions must be provided in text after the references in the manuscript file.
  • You are encouraged to include a graphical abstract, however, it is not compulsory. The graphical abstract should be attached as a separate file in image format (JPEG/GIF/BMP).
  • Your manuscript should contain the following in sequence:
    1. Title that is concise.
    2. Names of author and co-authors and their respective affiliations. All the author’s names must be mentioned in full and spelled correctly. All affiliation must be provided with a lowercase superscript after the author’s names and in the front of their respective address. The affiliation must include a full address including the postcode and country.
    3. The Corresponding author must be indicated with the (*) sign at the end of the corresponding author’s name. All communications will be only between the journal and the corresponding author. It is also the responsibility of the corresponding author to obtain full permission and consent from all the co- authors regarding the submitted work. All authors are fully responsible to accuracy and reliability of the submitted work.
    4. Abstract should not be more than 300 words. References should not be included in the abstract and it must be divided into Introduction, Objectives, Methods, Results and Conclusions.
    5. A maximum of 5 keywords.
    6. A short title.
    7. Page numbers.
    8. All abbreviations must be spelled out the first time it’s mentioned in the manuscript.
    9. Tables and Figures must be accurately numbered while referred in the text. Authors must agree that they have or have obtained permission to use the images provided in the manuscript. This must be mentioned in the cover letter.
    10. You must state any conflict of interest in the disclosure section. If there is none, you must state the following: The authors declare no conflicts of interest in this work.
    11. Ensure that the references used throughout the manuscript is the APA (American Psychological Association) Style.
    12. Acknowledgements should be included before references. You can mention your funding agencies or sources and include the respective grant numbers in this section.


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If you need to drop a quick message to clarify matters, or ask any questions (but please do read-up on all the scope, authors guidelines, submissions procedures) drop an e-mail to our Managing Editors.

We will reply to your queries.

With thanks,

Biome Team

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