Associate Professor Dr Hassanudin Bin Mohd Thas Thaker

Associate Professor

Academic Qualifications

PhD in Business Administration
Master of Science (Finance)
Bachelor of Business (Hons) in Finance

Areas of Interest
Empirical Finance
Real Estate Finance
Corporate Finance
Financial Stability
International Trade
Islamic Banking and Finance
Financial Innovation
Assets Pricing
Professional Memberships

  1. Malaysian Finance Association,
  2. Fellow of the Higher Education Academy, Advance HE, UK Professional Standards Framework. (FHEA)
  3. South East Asia International Trade Academia Association
  4. International Society of Responsible Finance (ISRF): Executive Secretary

Awards and Recognitions

  1. Best Paper Award in the 2nd Asean International Conference on Islamic Finance and Banking. Mohd Asmy & Hassanudin Mohd Thas Thaker (2014), “An Examination of Cultural – Economic Model and Public Relations in the Malaysian Islamic Banking System”, 12th – 15th November 2014, Royal Ambarukmo, Yogyakarta, Indonesia.
  2. Distinguished Paper Award in the 2015 International Symposium on Business and Management – Fall Session. Hassanudin Mohd Thas Thaker, Ahmad Khaliq and Mohd Asmy (2015), “An Evaluation of Malaysian Islamic Banks Service Quality: An Importance – Performance Analysis, 8th – 10th September 2015, Kyoto Japan.
  3. Awards for Excellence-2017, Outstanding Paper by the Emerald Group of Publishing. Hassanudin Mohd Thas Thaker and Chandra Sakaran, “Prioritisation of key attributes influencing the decision to purchase a residential property in Malaysia”. International Journal of Housing Markets and Analysis. Vol. 9 No 4, pp. 446-467, Scopus indexed journal.
  4. Best Paper Award in the 10-th Foundation of Islamic Finance Conference, Sunway University, Malaysia, 28th November 2019. Hassanudin Mohd Thas Thaker, Mohamed Asmy, Anwar Allah Picthay and Hafezali Iqbal Hussain. Continuous Adoption of Internet Banking: Evidence from Islamic Banks in Malaysia.
  5. Vice-Chancellor’s Research Award 2019: Award for Achievement. Sunway University, Malaysia.
  6. Editor's Choice Article Award for the An Investigation of an Adaptive Neuro-Fuzzy Inference System to Predict the Relationship among Energy Intensity, Globalization, and Financial Development in Major ASEAN Economies. Journal: Energies. Published 2020.


Current Research Project

  1. Fundamental Research Grant Scheme (FRGS): RM73,200. Title: Investigating the Unresolved Low-Middle Income Housing Problem, Malaysia. Status: Ongoing (2020-2024).
  2. Fundamental Research Grant Scheme (FRGS): RM80,400, Title: Developing a Model of Financial Well-Being Towards Malaysia's Shared Prosperity Vision. Status: Ongoing (2020-2024).
  3. Carbon Finance: A Discussion in the Context of Malaysia (Ongoing research paper)
  4. Capital Market Research in Islamic Finance (Book Chapter: Ongoing)
  5. COVID-19 and Mobility: Asean -5 Evidences (Ongoing research project)


  1. Hussain, H.I., Kamarudin, F., Turney, J.J., Thaker, H.M.T., & Anwar, N.A.M. (2022). Environmental Reporting Policy and Debt Maturity. Transformations in Business & Economics, Vol. 21, No. 1 (55), pp. 42-59. (Indexed in: ISI-WOS/SCOPUS/ABDC).
  2. Thaker, H.M.T., Khaliq, A., Asmy, M., Pitchay, A.A., & Hussain, H.I.B (2022). Behavioral Intention and Adoption of Internet Banking Among Clients’ of Islamic Banks in Malaysia: An Analysis Using UTAUT2, Journal of Islamic Marketing, Vol. 13 No. 5, pp. 1171-1197. (Indexed in: ISI-WOS/SCOPUS/ABDC)
  3. Thaker, H.M.T., Subramaniam, N.R., Qoyum, A., & Hussain, H.I. (2022). Cashless Society, E-Wallets and Continuous Adoption. International Journal of Finance & Economics. 1-21 (Indexed in: ABS-3/ISI-WOS/SCOPUS/ABDC).
  4. Thaker, H.M.T., Asmy, M., Pitchay, A.A., Sakti, M.R., Sifat, I., & Hussain, H.I.B. (2022). EPU of China and investment opportunities: A tale of Asean stock markets. Journal of Economics, Finance and Administrative Science. (Indexed in: ISI-WOS/SCOPUS/ABDC).
  5. Thaker, H.M.T., Ah Mand, A., Leong, C.H., Khaliq, A., Asmy, M. & Pitchay, A. (2022). International Passenger’s Perception on Airport Branding Strategy: Evidence from Malaysia. International Journal of Economics, Management and Accounting (IJEMA). (In Press). (Indexed in: ISI-WOS)
  6. Qayyum, A., Thaker, H.M.T., & Sakti, M.P. (2021). Does the Islamic Label Indicate Good Environmental, Social, and Governance (ESG) Performance? Evidence from Sharia-Compliant Firms in Indonesia and Malaysia. Borsa Istanbul Review. (In Press). (Indexed in: ISI-WOS/SCOPUS/ABDC).
  7. Thaker, H.M.T., Ariff, M. and Subramaniam, N.R. (2021), Residential property market in Malaysia: an analysis of price drivers and co-movements, Property Management, Vol. 39 No. 1, pp. 107-138 (Indexed in: ISI-WOS/SCOPUS/ABDC).
  8. Asmy, M., Pitchay A.A., Thaker, H.M.T & Khaliq, A & Fouad, M. (2021). Cash Waqf Model for Micro Enterprises’ Human Capital Development, ISRA International Journal of Islamic Finance, Vol. 13 No. 1, pp. 66-83. (Indexed in: ISI-WOS/SCOPUS/ABDC)
  9. Khaliq, A., Thaker, H.M.T., Asmy, M., Pitchay, A.A. & Chandra, S.K (2021). Drivers of Ar-Rahnu (Pawn) Acceptance: Malaysian Evidence, Journal of Islamic Marketing, Vol. 12 No. 7, pp. 1241-1259. (Indexed in: ISI-WOS/SCOPUS/ABDC)
  10. Thaker, H.M.T and Ah Mand, A. (2021), Bitcoin and stock markets: a revisit of relationship, Journal of Derivatives and Quantitative Studies. Vol. 29 No. 3, pp. 234-256.
  11. Thaker, H.M.T & Sakaran, K.C (2021). CoVID19, Financial Markets (Islamic vs Non-Islamic) and Exchange Rate: Does the Malaysian Market Offers Diversification Opportunities to the Investors? Global Review of Islamic Economic and Business 9(1), pp.19-27.
  12. Thaker, H.M.T., Asmy, M., Sakaran, K.C., Nanairan, M., & Hussain, H.I. (2020). Drivers of Loyalty among Non-Muslims Towards Islamic Banking in Malaysia: Evidence from SmartPLS. International Journal of Islamic and Middle Eastern Finance and Management, 13(2), 281 -302. (Indexed in: ISI-WOS & SCOPUS, ABDC)
  13. Thaker, H.M.T., Khaliq, A., Ah Mand, A., Hussain, H.I., Asmy, M. & Pitchay, A.A. (2020). Exploring the Drivers of Social Media Marketing in Malaysian Islamic Banks: An Analysis via Smart PLS Approach. Journal of Islamic Marketing, (Forthcoming). (Indexed in: ISI-WOS/SCOPUS/ABDC)
  14. Thaker, H.M.T., Khaliq, A., Sakaran, C.K. & Asmy, M. (2020). A discourse on the potential of crowdfunding and Islamic finance in the agricultural sector of East Java, Indonesia. Economics and Islamic Finance Journal, 6(1), pp.10-23.
  15. Thaker, H.M.T. & Sifat, I. (2020). Predictive Power of Web Search Behavior in ASEAN-5 Stock Markets. Research in International Business and Finance, 52 (Issue: April 2020), 1-20. (Indexed in: ISI-WOS/SCOPUS/ABDC).
  16. Hussain, H.I., Kot, S., Thaker, H.M.T. & Turner, J.J. (2020) Environmental Reporting and Speed of Adjustment to Target Leverage: Evidence from a Dynamic Regime Switching Model, Organizacija, 53(1), 21-36. (Indexed in: ISI-WOS/SCOPUS).
  17. Hussain, H.I., Slusarczyk, B., Kamarudin, F., Thaker, H.M.T. & Woszczyna, K.S. (2020). An Investigation of Adaptive Neuro-Fuzzy Inference System to Predict the Relationship Among Energy Intensity, Globalization and Financial Development in Major Asean Economies. Energies, 13 (March 2020), 1-17. (Indexed in: ISI-WOS/SCOPUS).
  18. Sakti, M.R.P., Thaker, H.M.T. & Khaliq, A. (2020). Political connections and firm performance: evidence from Indonesia. International Journal of Economics and Management, 14(1), 27-42. (Indexed in: SCOPUS).
  19. Thaker, H.M.T., Asmy, M., Sakti, M.R.P., Pitchay, A.P., Sifat, A.M., & Hussain, H.I (2020). EPU of China and Investment Opportunities: A Tale of Asean Stock Markets. Journal of Economics, Finance and Administrative Science. Forthcoming. (Indexed in ISI-WOS & SCOPUS).
  20. Khaliq, A., Thaker, H.M.T., Thaker, M.A.M.T., Pitchay, A.A. & Chandra, S.K. (2020). Drivers of Ar-Rahnu (Pawn) Acceptance: Malaysian Evidence. Journal of Islamic Marketing. Forthcoming. (Indexed in: ISI-WOS/SCOPUS/ABDC).
  21. Thaker, H.M.T & Ariff., M. (2020). Supply – Side Drivers of Residential Price in Malaysia: A Qualitative Analysis from Developers Perspectives. Property Management. Forthcoming. (Indexed in: ISI-WOS/SCOPUS/ABDC).
  22. Thaker, H.M.T., Mohamad, A., Kamil, N.K.M., & Duasa, J. (2020). Information Content and Informativeness of the Analysts’ Report: Evidence from Shariah Compliant Shares. Journal of Islamic Accounting and Business Research. 11(3), 869-888. (Indexed in: ISI-WOS /SCOPUS/ABDC )
  23. Mohamad, A., Sifat, I., Thaker, H.M.T & Noor, M.A. (2020). On IMF Debt and Capital Control: Evidence from Malaysia, Thailand, Indonesia, the Philippines and South Korea. Journal of Financial Regulation and Compliance. (Forthcoming). (Indexed in: ISI-WOS /SCOPUS)
  24. Asmy, M., Fouad, A., Thaker, H.M.T. & Picthay, A. A. (2019). What keeps Islamic mobile banking customers loyal? Journal of Islamic Marketing, 10(2), 525-542. (Indexed in: ISI-WOS/SCOPUS/ABDC)
  25. Thaker, H.M.T. & Mohamad, A. (2019). Prioritizing Disclosures of Information in Analyst Reports using the Analytic Hierarchy Process: Evidence from Malaysia. International Journal of Business and Systems Research. 13(1), 77 – 99. (Indexed in: ISI-WOS /SCOPUS/ABDC)
  26. Picthay, A. A., Asmy, M., Thaker, H.M.T. & Fouad, Y. (2019). Factors Influencing Consumers’ Adoption of Islamic Mobile Banking Services in Malaysia: An Approach of Partial Least Squares (PLS). Journal of Islamic Marketing, 10(4), 1037-1056. (Indexed in: SCOPUS/ABDC)
  27. Pitchay, A.A., Asmy, M., Azhar, Z., Mydin, A.A., Thaker, H.M.T. (2019). Factors Persuade Individuals’ Behavioural Intention to opt for Islamic Bank Services: Malaysian Depositors Perspective. Journal of Islamic Marketing. 11(1), 234-250. (Indexed in: ISI-WOS/SCOPUS/ABDC)
  28. Asmy, M.T.T., Thaker, H.M.T., Yousuf. F., & Pitchay, A.A., (2019). Electricity Consumption and Economic Growth: A Revisit Study of their Causality in Malaysia. Etikonomi, Jurnal Ekonomi.18 (1), 1-12. (Indexed in: ISI-WOS)
  29. Hussain, H.I., Ali, A., Thaker, H.M.T. & Ali, M. (2019). Firm Performance and Family Related Directors: Empirical Evidence from an Emerging Market. Contemporary Economics. 13(2), 187-204. (Indexed in: SCOPUS/ABDC)
  30. Thaker, H.M.T. & Sakaran, C.K. (2019). Discussion on Islamic Finance and SMEs Financial Accessibility in Malaysia and Indonesia. Etikonomi, Jurnal Ekonomi. Forthcoming, In Press. (Indexed in: ISI-WOS)
  31. Thaker, H.M.T. & Mohamad, A. (2019). Age of Firms and the Value of Analyst Recommendation. Journal of Business and Economics Review, 4(2), 90-96.
  32. Hussain, H.I., Kamarudin, F., Thaker, H.M.T., & Salem, M.A. (2019). Artificial Neural Network (ANN) to Model Managerial Timing Decision: Non- Linear Evidence of Deviation from Target Leverage. International Journal of Computational Intelligence Systems, 12(2), 1282 – 1294. (Indexed in: ISI-WOS & SCOPUS)
  33. Asmy, M., Thaker, H.M.T., Pitchay, A.P. & Khaliq, A. (2019) A Proposed Integrated Zakat-Crowdfunding Model (IZCM) for Effective Collection and Distribution of Zakat Fund in Malaysia. International Journal of Zakat and Islamic Philanthropy, 1(2), 1-12.
  34. Pitchay, A.P., Asmy, M., Thaker, H.M.T., Khaliq, A. & Mydin, A. (2019). Literacy on The Fundamental Information of Zakah. International Journal of Zakat and Islamic Philanthropy, 1(2), 103-116.
  35. Asmy, M., Thaker, H.M.T., Pitchay, A.A. & Amin, Md. F. (2019). Determining the Relative Importance of Crowdfunding Platform Quality Factors. International Journal of the Analytic Hierarchy Process. 11(3), 368-388. (Indexed in: SCOPUS).
  36. Asmy, M., Thaker, H.M.T. & Pitchay, A.A. (2018). Modelling Crowd Funders Behavioural Intention to Adopt Crowdfunding -Waqf Model (CWM) In Malaysia: The Theory of Technology Acceptance Model. International Journal of Islamic and Middle Eastern Finance and Management (IJIMEF). 1(1).1-20. (Indexed in: ISI-WOS & SCOPUS, ABDC)
  37. Thaker, H.M.T., Mohamad, A., Kamil, N.K.M., & Duasa, J. (2018). Information Content and Informativeness of the Analysts’ Report: Malaysian Evidence. Journal of Financial Reporting and Accounting.16(4),742-763. (Indexed in: SCOPUS/ABDC)
  38. Sakti, R.P., Thaker, H.M.T., Qayyum, A. & Qizam, I. (2018). The Concept and Practice of Macroprudential Policy in Indonesia: Islamic and Conventional. Al – Iqtishad Jurnal Ilmu Ekonomi Syariah. 10(1),75-96.
  39. Thaker, H.M.T., Mohamad, A., Kamil, N.K.M. & Duasa, J. (2018). Information Content of Analysts’ Report: A Literature Survey. Etikonomi, Jurnal Ekonomi. 17(1),135 – 152. (Indexed in: ISI-WOS)