Asian Journal of Economics, Business and Accounting

Banking Practice and Credit Risk Indicators: A Systematic Literature Review of Green Banks

Lavudi Vijay — 2026-05-22

Green banking extends the scope of traditional financial services by supporting the lending of money to eco-friendly sources, investment in clean technologies, and influencing the customers and businesses to become environmentally responsible. This study presents a systematic literature review of green banking and sustainable finance, covering research published between 2016 and 2025. The primary objective is to explore the evolution, thematic development, and methodological approaches within the green finance domain, focusing on the role of banking institutions in supporting environmental sustainability. Drawing exclusively from the Scopus database, 50 peer-reviewed journal articles were analysed using R Shiny-based bibliometric tools to uncover trends, gaps, and future research trajectories. The review identifies ten major research themes: green banking adoption, green economy and ecological finance systems, climate change mitigation through finance, environmental economics, financial inclusion and SDGs, ethical banking and CSR, green monetary policy frameworks, green finance in emerging markets, and sustainable FinTech innovations and stakeholder collaboration in green finance. The study reveals that Structural Equation Modelling (SEM) is the most employed methodology, reflecting the growing trend of quantitatively measuring stakeholder perceptions and behavioural drivers of green banking practices. Key sources include leading journals such as Environment, Development and Sustainability, Journal of Sustainable Finance & Investment, and Technological Forecasting and Social Change. The review also underscores regional disparities in research output, with a significant concentration of studies in South and Southeast Asia, while African and Latin American contexts remain underexplored. In addition, the study results point to non-existent interdisciplinary research and the absence of studies of more advanced technologies, including AI and blockchain, in green banking. The review is relevant to the body of research since it identifies the scope of research on green finance covering a decade and provides practical implications to policymakers, financial institutions, and researchers who want to contribute to the development of green finance practice in any part of the world.

Vocational Training for Women Gig Workers: A Review

Vicky Raaz — 2026-04-30

Vocational training helps bridge skill gaps and improve employability in the evolving gig economy, particularly empowering women with flexible work opportunities, though challenges such as job instability and lack of benefits remain. The aims of this study are reviewing previous study findings on women who working as a gig worker in India and develop specific job expertise through vocational training and the way these effects their jobs in gig economy. This investigation attempts to identify their benefits and drawbacks. Furthermore, the research will assess the findings from existing studies Published between 2015 to 2026 were analysis the how well they work in various vocational training programmes and seek to provide idea to improve female change for jobs and skill development. Also, a comprehensive and structured review on female gig workers in context of vocational training, an organised review has been performed and data was collected from google scholar and Scopus. Additionally, the finding shows that vocational training enhances the efficiency and confidence of women gig workers and increase earning potential, work efficiency by providing technical and digital literacy. The review also highlights the problems that women gig workers face because of limited access, unstable earning, safety concerns and gender bias. It shows how open and freely accessible vocational training programs, promotes women achievements and improves equality of workplace for all. This paper addresses the important of supportive measures to tackle fundamental and specific-gender challenges and promoting vocational training as a vital tool for empower women in the gig economy.

Role of Women in Promoting Sustainable and Community-based Tourism: A Qualitative Study in Kandhamal District of Odisha, India

Brajabandhu Mallick — 2026-05-05

Background: In recent times, tourism development has moved away from mass tourism towards sustainable and community-based tourism, which focuses on protecting the environment, involving local people, and ensuring inclusive development. In the context of India, tourism policies largely emphasise economic growth and environmental sustainability but lack gender-specific frameworks to support women’s entrepreneurship and leadership.

Aim: The study aims to examine the role of women in promoting sustainable and community-based tourism in Kandhamal District of Odisha, with a focus on their leadership, entrepreneurial participation, and empowerment outcomes.

Study Design: The study adopts a qualitative, descriptive, and exploratory research design.

Place and Duration of Study: The study is focused on the Kandhamal District of Odisha and is based on secondary data collected from published literature, reports, and case studies over recent years.

Methodology: The study is based on secondary data sources, including research articles, government reports, and case studies. Qualitative tools such as comparative case synthesis and thematic analysis are used to analyse women’s participation in tourism activities such as homestays, handicrafts, eco-tourism, and cultural promotion.

Results: The study reveals that women actively participate in tourism-related activities, contributing to income generation, cultural preservation, and environmental sustainability. Their involvement enhances self-confidence, social recognition, and decision-making capacity. However, challenges such as limited training, financial constraints, low digital literacy, and weak market access restrict their leadership and entrepreneurial growth.

Conclusion: Women play a significant role in promoting sustainable and community-based tourism. Strengthening their participation through gender-sensitive policies, capacity-building, financial support, and digital inclusion can enhance sustainable development and rural economic growth in Kandhamal.

Influence of Finfluencers on Investment Decision-Making: A Behavioral and Theoretical Review

Mukta Rani Hessa — 2026-05-18

The rapid rise of financial influencers (finfluencers) on social media has significantly transformed the way retail investors engage with financial markets. While these influencers have made financial information more accessible, their growing influence raises important concerns regarding behavioural biases and decision-making patterns among investors. This study examines the role of finfluencers in shaping investment behaviour, with particular focus on psychological factors such as Fear of Missing Out (FOMO) and herding behaviour. The study adopts a Systematic Literature Review (SLR) approach, analysing research published between 2020 and 2025. Relevant studies were sourced from academic databases including Google Scholar, ScienceDirect, and ResearchGate using keywords such as “finfluencer,” “behavioural biases,” “FOMO,” and “herding behaviour.” The selected literature was examined thematically to identify recurring patterns and underlying relationships. The findings suggest that finfluencers do not directly influence market performance but play a crucial role in shaping investor sentiment and psychological responses. Their impact is largely driven by perceived credibility, relatability, and engagement, which often trigger behavioural biases and lead to impulsive and herd-driven investment decisions. Although finfluencers contribute positively by enhancing financial awareness and encouraging market participation, they also present risks related to misinformation, speculative trading, and the absence of adequate regulatory oversight. This study contributes to the existing literature by integrating key theoretical perspectives—including Behavioural Finance Theory, Prospect Theory, Information Cascade Theory, and Social Influence Theory—into a unified framework that explains the indirect influence of finfluencers on investment behaviour. The study concludes that improving financial literacy and strengthening regulatory mechanisms are essential to ensure informed and rational investment decisions in an increasingly digital financial ecosystem.

Awareness Towards Stock Market among College Students

D. Rajasekaran — 2026-04-25

The stock market enables companies to raise capital and investors to earn returns, playing a vital role in economic development and financial growth. In India, regulated exchanges like BSE and NSE ensure transparent trading, while growing student interest highlights the need for better financial awareness and literacy. The study aims to examine the level of awareness of the stock market among college students and to analyze the relationship between selected socio-economic variables and awareness levels. The study is based on both primary and secondary data. Primary data were collected from 45 undergraduate students through a structured questionnaire using a random sampling technique. Statistical tools such as simple percentage analysis, chi-square test, and paired t-test were applied for data analysis. The results reveal that students possess basic knowledge of the stock market; however, awareness regarding risk factors, regulatory bodies, and technical and fundamental analysis is relatively low. The chi-square analysis indicates that socio economic factors such as area of residence, family income, family savings, and source of information significantly influence awareness levels. The paired t-test confirms that participation in a stock market awareness program significantly improved students’ knowledge. The study concluded that there is a need for structured financial education and practical exposure to enhance stock market awareness among college students.

Human Capital and SME Internationalization: The Mediating Role of Digital Capability in Teak Wood Craft SMEs

Ryan Basith Fasih Khan — 2026-04-24

Background and Aims: Despite growing interest in SME internationalization, limited attention has been paid to the mediating mechanisms that convert human capital into global outcomes, particularly in traditional manufacturing sectors. This study examines human capital's role in the internationalization of MSMEs in the teak craft sector, investigating its direct impact on international outcomes and the mediating role of digital capability in transforming resources into global competitiveness.

Study Design: This research employs a quantitative explanatory survey design to test the structural relationships among human capital, digital capability, and internationalization.

Place and Duration of Study: The study was conducted in Bojonegoro Regency, East Java, Indonesia, an area recognized for its local resource endowments and teak woodcraft production. Data collection was carried out over several months.

Methodology: Data were collected from 150 owners or managers of teak woodcraft MSMEs using a five-point Likert scale. The constructs were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to evaluate measurement validity and reliability, and to test direct and mediating effects.

Results: Human capital exerts a strong, positive, and significant effect on digital capability, which in turn significantly influences internationalization. While human capital also directly affects internationalization, its direct effect is smaller than the indirect pathway. Crucially, digital capability serves as a significant partial mediator in the relationship between human capital and internationalization.

Conclusion: Human capital alone is insufficient for optimal international success; firms must strategically develop digital capability. Theoretically, this study extends the Resource-Based View by positioning digital capability as a dynamic conversion mechanism that operationalizes human capital into international competitiveness. Practically, these findings guide policymakers and SME practitioners in designing targeted digital training programs. Socially, enhancing digital skills among artisans supports cultural heritage preservation while fostering sustainable economic empowerment.

Effect of Gender Diversity in the Board of Directors on Financial Performance of Commercial Bank: A Panel Econometric Approach

Nusrat Jahan Sadia — 2026-04-24

Board gender diversity has increased globally, driven by evidence that women bring unique perspectives and prudent decision-making that enhance firm performance and governance. Despite growing recognition of its importance, countries like Bangladesh still face challenges due to traditional gender roles limiting women’s participation in corporate leadership. The study examines the increasing presence of both genders on the boards of directors of commercial banks in Bangladesh. The independent variables are board size, board independence, gender diversity, and the audit committee’s independence. The dependent variable, Return on Assets (ROA), is a ratio that has been used to measure bank performance. This analysis uses the methods of descriptive statistics and correlation analysis, where applicable, multicollinearity tests, the Hausman test, and panel regression analysis to examine the link between a Bank’s Performance and the Gender Diversity of the Board of Directors. The method of moments (GMM) procedure is order to obtain a more strong regression result. The analysis demonstrates that board gender diversity is negatively associated with the financial performance of commercial banks, suggesting that increased female representation on boards corresponds with lower returns on assets. Board independence appears to exert minimal influence on bank performance, indicating a limited effect on overall institutional outcomes. Furthermore, the independence of the audit committee is found to negatively affect bank performance, highlighting its potential implications for the governance and financial effectiveness of commercial banks in Bangladesh. These results call for further investigation into the underlying factors, such as lack of industry-specific experience, the hostile work environment in the male-dominated banking sector, limited decision-making authority, etc.

The Impact of Health Marketing Strategies in Developed, Developing and Underdeveloped Countries

P. Hanumantharao — 2026-04-24

This study examines how health marketing strategies differ across developed, developing, and underdeveloped countries, with particular attention to the roles of technology, infrastructure, socio-economic conditions, and cultural context. Using a comparative secondary-data approach, the study synthesizes evidence from international reports, case-based evidence, and published literature to evaluate patterns in government investment, digital health penetration, campaign reach, public trust, health behavior change, and cultural influences on campaign effectiveness. The findings indicate that developed countries benefit from stronger digital infrastructure, higher health and digital literacy, broader telemedicine adoption, and greater public-sector funding, which together enhance the reach and effectiveness of health marketing interventions. In contrast, developing and underdeveloped countries continue to depend more heavily on radio, community outreach, mobile messaging, and externally supported campaigns because of infrastructural limitations, affordability barriers, and lower literacy levels. The analysis also shows that cultural and religious institutions may act not only as barriers but also as enablers when campaigns are adapted to local values and trusted intermediaries. The study concludes that health marketing cannot be standardized across all contexts; rather, it must be tailored to country conditions, especially in the post-COVID era, where digital health adoption has accelerated unevenly across regions. The paper offers practical implications for policymakers, public health institutions, and health communicators seeking to design more context-sensitive and effective health marketing strategies.

Reward Management and Employee Quality of Work Life in Public Health Facilities: Evidence from Machakos County Government, Kenya

John Manesa Mule — 2026-04-27

Reward management is a key HRM practice that influences employee satisfaction, motivation, and performance by shaping how valued employees feel within an organization. In Kenya’s public health sector, inadequate rewards and poor HR implementation lower morale and negatively impact quality of work life and service delivery. This study examined the influence of reward management on employee Quality of Work Life (QWL) in public health facilities under Machakos County Government, Kenya. A descriptive survey research design was adopted, and data were collected from 195 healthcare workers using structured questionnaires measured on a five-point Likert scale. Reliability of the instrument was confirmed using Cronbach’s Alpha, with reward management (α = 0.81) and Quality of Work Life (α = 0.84) indicating good internal consistency. Ethical standards were upheld through informed consent, voluntary participation, and assurance of confidentiality and anonymity of respondents. Data were analyzed using descriptive statistics, analysis of variance (ANOVA), and ordinal logistic regression. The findings indicated that reward management was moderately rated (M = 3.74, SD = 1.12), reflecting a generally positive but varied perception among employees. ANOVA results showed significant differences in perceptions of reward management across employee categories, indicating variability in how reward practices are experienced within public health facilities (p < 0.05). Further, ordinal logistic regression analysis revealed that reward management had a statistically significant positive influence on employee Quality of Work Life (OR = 1.68, 95% CI [1.36, 2.59], p < .001), implying that a one-unit increase in reward management increases the odds of higher QWL by 68%. The results demonstrate that fair compensation, promotion opportunities, recognition, and allowances significantly enhance employee satisfaction, motivation, and commitment. The study concludes that strengthening reward management practices is essential for improving employee well-being and service delivery in public health institutions. It recommends the implementation of fair, transparent, and timely reward systems within county governments to enhance workforce performance and overall healthcare outcomes.

Socioeconomic Determinants of Household Solar Energy Adoption in Trans-Nzoia County, Kenya

Karani Oliver Ray — 2026-04-28

The solar energy systems adoption constitutes an important integration to Kenya’s transition towards sustainable economic development and the realization of Vision 2030. However, rural adoption remains low, largely due to a knowledge gap regarding the socioeconomic factors that influence uptake. This study investigated the effects of household income, access to credit facilities, awareness of the benefits of solar energy, and education level on the adoption of solar energy in Trans-Nzoia County. The study was anchored on four theoretical frameworks: the Diffusion of Innovations Theory, the Theory of Planned Behavior, the Economic Theory of Consumer Choice, and the Social Cognitive Theory. A cross-sectional research design was adopted, targeting a stratified random sample of 385 households in the county. Primary data were collected through structured questionnaires and analyzed using descriptive statistics and binary logistic regression to estimate the probability of solar energy adoption based on the identified socioeconomic factors. The regression analysis results revealed that education level (β = 0.035, p < 0.05), access to credit facilities (β = 0.272, p < 0.05), and awareness of solar energy benefits (β = 0.213, p < 0.05) were statistically significant predictors of the likelihood of adoption of solar energy. In contrast, household income (β = 0.024, p > 0.05) was not a statistically significant predictor of adoption. These findings suggest that the decision to use solar energy is influenced by factors other than income, such as educational attainment, financial inclusion, and access to information. Households with higher levels of education, better access to credit, and increased awareness were more likely to adopt solar technology, indicating that non-income factors, particularly financial accessibility and information dissemination, play an important role in shaping energy decisions in rural areas. The robustness of the model was affirmed through diagnostic tests, including the Hosmer-Lemeshow goodness-of-fit test. County governments and energy stakeholders implement public awareness campaigns on solar energy in selected wards on an annual basis, with measurable indicators such as the number of households reached and changes in solar adoption rates. Financial institutions should introduce tailored solar financing such as pay-as-you-go credit for low- and middle-income households before 2030, with success measured by loan uptake and repayment rates. Also, the Ministry of Education, should integrate basic renewable energy modules into primary and secondary school curricula before 2030, with monitoring based on curriculum rollout and student participation. Future research, should conduct multi-county comparative studies involving at least three counties within the next 3-5 years to examine regional variations in solar adoption. They also should systematically assess cultural attitudes, grid and off-grid infrastructure readiness, and county-level policy and regulatory frameworks, using standardized indicators to enable comparability across diverse Kenyan contexts.

Flexible Work Programs and Employee Performance in Tier 1 Commercial Banks in Nairobi City County, Kenya

Gladys N. Ogaro — 2026-04-28

Flexible work programs, including flexible hours, teleworking, compressed workweeks, and job sharing, are increasingly adopted to enhance work–life balance, employee satisfaction, and productivity. This study examined the influence of flexible work programs on employee performance in Tier 1 commercial banks in Nairobi City County, Kenya, using Kenya Commercial Bank as a representative institution. A cross-sectional research design was employed, targeting 96 employees across multiple departments, with data collected through structured questionnaires. Descriptive and inferential statistical analyses were conducted using SPSS. The findings indicated moderate implementation of flexible work arrangements, with employees appreciating the ability to adjust working hours, though teleworking was less practised. Inferential statistics revealed a very weak and statistically insignificant relationship between flexible work programs and employee performance (r = .036, p = .745; β = .085, p = .149). These results suggest that while flexible work programs may enhance employee satisfaction and time management, their direct impact on performance is limited in the banking context due to operational, regulatory, and supervision constraints. The study concludes that for flexible work programs to effectively enhance performance, they must be supported by clear policies, technological infrastructure, and management oversight. Recommendations include policy development, investment in digital systems, managerial training, and continuous evaluation to optimize the benefits of flexibility on employee productivity and organizational outcomes.

Monetary Policy and Nigeria’s Economic Growth: Causality and Impact Analyses

Ndubuisi N. Udemezue — 2026-05-01

Monetary policy plays a crucial role in shaping macroeconomic stability and growth in developing economies like Nigeria, though its effectiveness remains challenged by persistent economic volatility. This study examines the nexus between monetary policy and economic growth in Nigeria over the period 1981–2025. Real Gross Domestic Product growth rate (RGDP) is adopted as the dependent variable, while monetary policy rate (MPR), liquidity ratio (LQR), and cash reserve ratio (CRR) serve as the explanatory variables. The study applies the Vector Error Correction Model (VECM) alongside Granger causality techniques. Empirical findings confirm the presence of a stable long-run equilibrium relationship among the variables. Specifically, CRR and LQR show negative effects on economic growth in the long run, whereas MPR indicates a marginal positive contribution. In the short run, none of the monetary policy instruments demonstrates statistical significance. Causality analysis showed an absence of causality between the CRR, LQR, INF and TOP on one side and RGDP on the other side, however MPR granger caused RGDP. The study concludes that while monetary policy has the potential to stimulate growth, its effectiveness is constrained by structural bottlenecks in the economy and the financial system.

Rewriting Value: How Digital Transformation Is Reshaping Risk Operations and Financial Reality

Damilola Abidemi Akinwunmi — 2026-05-01

The global financial system is being transformed by the integration of digital technologies such as artificial intelligence, big data, blockchain, and cloud computing, reshaping financial services, risk management, and market dynamics. This study examines how digital transformation is reshaping financial value creation and risk operations within contemporary financial systems. Despite rapid digitalisation, existing financial frameworks remain largely grounded in traditional valuation and risk assumptions, creating a gap in understanding the interaction between digital value, emerging risks, and governance. To address this, the study adopts a multi-method quantitative approach, combining fixed effects panel regression, Difference-in-Differences, Vector Autoregression, and Structural Equation Modelling on a balanced panel of eight countries (four developed and four emerging economies) over the period 2020–2024. The results show that digital transformation significantly enhances financial value, with R&D expenditure exerting a strong positive effect (β = 1.736), while digital adoption reduces non-performing loans (β = −0.967) and operational costs (β = −2.483). However, fintech adoption increases cyber risk (β = 0.341) and contributes to systemic financial stress. Structural modelling further reveals that digital value intensifies risk exposure (β = 0.534), whereas governance mitigates it (β = −0.418). The study advances financial theory by integrating value creation, risk dynamics, and governance into a unified framework. It recommends adaptive regulatory frameworks, strengthened institutional governance, and revised valuation models to ensure stability in digitally transformed financial systems.

Influence of Project Planning Practices on Cost Overruns in The Construction of Trunk Roads in Kenya

Joachim Aloo — 2026-05-01

In ideal situation, road infrastructure projects should be completed within the planned budget, schedule, and scope to ensure efficient utilization of public resources and timely delivery of transport services that support economic growth and social development. Currently, cost overruns are a persistent challenge in Kenya’s road construction sector, particularly in national trunk road projects, where final expenditures frequently exceed planned budgets. These overruns undermine timely project delivery, strain public finances, and reduce value for money, hindering the achievement of Vision 2030. This study examined the influence of project planning practices that is scope definition, design planning, and funding allocation on cost overruns in national trunk road construction. The study was guided by the Systems Theory, Design Structure Theory, and Contingency Theory, the study adopted a retrospective design using secondary data from 46 KENHA projects implemented between 2005 and 2023. Data were extracted from KENHA and Kenya Roads Board. Document reviews were done on parliamentary reports, audit reports, and financiers including the World Bank and African Development Bank. Descriptive and inferential statistics were applied, with multiple linear regression determining relationships between planning practices and cost overruns. Results showed that scope definition, design planning changes, and funding allocation were significant drivers of cost overrun. The study concludes that strengthening feasibility studies, integrating modern design technologies, enhancing stakeholder engagement, and ensuring predictable funding flows are critical to minimizing budget deviations. The findings would offer actionable insights for policymakers, project managers, development partners, and scholars to improve planning frameworks, emphasizing efficiency, accountability, and sustainable infrastructure development. This underscores the need for well-structured project planning practices that minimize cost overruns and enhance the long-term performance of Kenya’s road infrastructure sector.

A Mechanism Study and Empirical Analysis of How County Urbanization Development Facilitates Comprehensive Rural Revitalization

Hui Zhou — 2026-05-02

County-level urbanization is an important driving force connecting urban and rural areas and promoting comprehensive rural revitalization. This study uses panel data from 310 counties in the Yangtze River Delta from 2014 to 2023 to empirically examine the impact and mechanisms of county-level urbanization on comprehensive rural revitalization. The study finds that county-level urbanization significantly promotes comprehensive rural revitalization, with agricultural science and technology levels playing an intermediary role. Heterogeneity analysis shows that in provinces with relatively low levels of urbanization, the promoting effect of county-level urbanization is stronger. Based on this, it is suggested to: strengthen the functions of county-level carriers to promote integrated urban-rural development; promote the equalization of high-quality public services to enhance the comprehensive capacity of county towns; and advance industrial upgrading and regional coordination according to local conditions.

An Assessment of Internally Generated Revenue and Its Effects on Community Development in Alimosho Local Government Area, Ikotun, Lagos State

Ejiro Oyindamola Adu — 2026-05-04

Internally generated revenue (IGR) is a vital funding source for local governments in Nigeria, yet its effectiveness is undermined by challenges such as corruption, weak transparency, and poor accountability. This study assessed Internally Generated Revenue (IGR) and its effect on community development in Alimosho Local Government Area, Ikotun, Lagos State. It identified the main sources of Internally Generated Revenue exploited by Alimosho Local Government, assessed the effect of Internally Generated Revenue on Community Development in the Local Government, and also investigated the challenges hindering effective Internally Generated Revenue Generation in the Study Area. These were with the view to assess Internally Generated Revenue and its effect on Community Development in Alimosho Local Government Area. This study adopts a descriptive research design, which accurately and systematically describes a population, event, or situation. There were 400 workers in the Alimosho Local Government Area, Ikotun, Lagos State. This sample size covered 400 workers in the Alimosho Local Government Area, Ikotun, Lagos State. Both primary and secondary sources of data were employed for this research. Data were collected primarily through questionnaire and interview. Sixty (60) copies of structured questionnaire were administered representing 15% of the total population of staff working in the Local Government. The copies of questionnaire were administered using random sampling technique and later analyzed by the use of simple statistical tools such as frequency distribution and simple percentages, and also chi- square statiscal test was utilized. Interview was also carried out on ten (10) respondents selected from five (5) revenue officers who dealt mainly with the collection of revenue proceedings and five (5) senior staff at the management level of the local government. Secondary data such as theses/ projects, journals, text books, newspapers, and internet were also consulted. Findings revealed that Internally Generated Revenue was primarily sourced from taxation, market fees, licenses and permits, fines and penalties, rates and levies, and other service-related charges. While these revenues had produced notable improvements in healthcare delivery, selected infrastructure projects, and administrative transparency, the overall developmental effect remained limited. Major constraints included political interference, inadequate infrastructure, absence of reliable statistical data, corruption, insufficient staffing, low public awareness, and minimal adoption of technology in revenue operations. The research was anchored on the New Growth Theory, which emphasizes human capital, innovation, and institutional development as drivers of long-term growth, and the Intergovernmental Fiscal Relations Theory, which underscores the importance of fiscal decentralization, equitable revenue allocation, and efficient expenditure management in enhancing local autonomy and service delivery. By integrating these theoretical perspectives with empirical evidence, the study addressed a critical knowledge gap, providing local-level insights into how IGR, when effectively managed, can drive sustainable community transformation. The study concluded that Internally Generated Revenue has mid-way contributed to community development in Alimosho Local Government Area, Ikotun, Lagos State.

Bibliometric Analysis of Forensic Accounting Using Scopus Database

Seema Devi — 2026-05-06

Forensic accounting is as old as corporate irregularities. Initially, this work was handled by accountants and auditors, but as the complexities increased, a new specialized field was required to detect and control fraudulent activity. Forensic accounting is a combination of skills required to investigate financial and non-financial fraud in organizations. Due to the escalating complexity of financial crimes in the digital era, this study aims to systematically evaluate the intellectual landscape and evolutionary trajectory of forensic accounting. The present study applies bibliometric analysis (RStudio) using the Scopus database from 1969-7 March, 2026 to examine the trends and patterns of research in forensic accounting. The final 770 documents are retrieved using keywords related to forensic accounting. The analysis utilized key metrics such as annual scientific production, author productivity (Lotka’s Law), citation analysis, and keyword co-occurrence mapping. The findings reveal that internal control and finance are the most dominant research pillars with 66 and 48 occurrences, respectively. Furthermore, the results document a significant paradigm shift from traditional investigative auditing to digital forensics and proactive risk management, with the research "center of gravity" expanding from the United States to emerging Southeast Asian hubs such as Malaysia and Indonesia. The study concludes that forensic accounting has transitioned into a highly interdisciplinary field, implying a critical need for standardized global curricula and enhanced international co-authorship to effectively address transnational financial misconduct.

Financial Inclusion and Poverty Alleviation in Nigeria: Evidence from an ARDL Analysis (1992–2023)

Emmanuel Chijioke Nwadike — 2026-05-08

The issue of poverty alleviation has been attracting global attention especially as economic challenges become more complex. Empirical evidence suggests that meaningful poverty alleviation is achievable particularly in countries that have experienced sustained economic progress. This study investigated the short- and long-term effects of financial inclusion on poverty alleviation in Nigeria over the period 1992–2023. The data were sourced from the Central Bank Statistical Bulletin and World Development Indicators. For the purpose of statistical analysis, the study used the Auto-Regressive Distributed Lag (ARDL) model. The results revealed a strong and positive link between key financial inclusion indicators and poverty reduction in the long run. In particular, expanding the number of commercial banks’ rural branches showed a significant exerted a diminishing influence on poverty levels. Increased rural deposit mobilisation, greater access to agricultural credit under the guarantee scheme and higher lending to small and medium-sized enterprises (SMEs) also contributed meaningfully to reducing poverty. In contrast, loans provided by microfinance banks displayed a negative but statistically insignificant effect over time. Short-run findings presented varied outcomes across the variables. In general, the study demonstrated that targeted financial inclusion strategies especially those focused on rural communities, agriculture, and SMEs play a crucial role in achieving sustained poverty reduction in Nigeria. The analysis and findings are restricted to Nigeria and this may limit the extent to which it is generalized to other developing economies with different financial structures.

A Panel Data Analysis of Small Finance Bank’s Profitability Using CAMELS Model

Hetal Rajpurohit — 2026-05-09

Small Finance Banks (SFBs), introduced by the RBI to advance financial inclusion, have become important contributors to India’s banking landscape, making it essential to examine how their CAMELS parameters influence profitability. The present research work analyses the quarterly financial performance of five Small Finance Banks for the period 2020-2021 to 2024-2025 using the CAMELS framework. The quarterly secondary data is collected from the official websites of the selected banks and RBI websites. All the CAMELS variables (capital adequacy, asset quality, earning quality, management efficiency, liquidity, and sensitivity) served as independent variables, while Profitability was measured using the return on assets (ROA) as dependent variable. Correlation analysis and Panel data regression analysis were employed to test the hypotheses. ROA is positively correlated with CRAR, PCR, PPE, Operating Profit to Working Fund Ratio, and Sensitivity, but negatively correlated Advances to total assets ratio, Net NPA to Net advance ratio, Interest Income to total income ratio, and Liquidity. However, the result of panel regression analysis reveals that CRAR has no significant impact on the profitability but Advances to total assets ratio has a positive significant impact on the profitability. Asset quality has a significant negative impact on the profitability. Cost Income ratio has a negative significant impact on the ROA and Profit per employee has a positive significant impact on the ROA. Earning quality has a significant positive impact on the ROA. Credit deposit ratio shows a negative significant impact on the profitability and Liquidity coverage ratio shows a positive significant impact on the profitability. Sensitivity has a positive significant impact on the ROA.

Capital Structure and Tax Planning of Listed Consumer Goods Firms in Nigeria: Moderating Effects of Institutional Ownership

Moses Babatunde Olanisebe — 2026-05-11

Highly leveraged firms are more likely to pursue tax planning strategies to manage their financial obligations and enhance shareholder value since the firms with higher leverage benefit from interest deductibility, reducing taxable income. This study examined the moderating effects of institutional ownership on the relationship between capital structure and tax planning of listed consumer goods firms in Nigeria. The study employed a correlational research design, using a sample size of sixteen (16) firms from a total population of twenty-one (21) listed consumer goods firms on the Nigerian Exchange (NGX) group, with data extracted from the annual reports and accounts of the sampled firms for a period of twelve years (2014–2025). Data was analyzed using descriptive statistics to provide a summary for the variables, and correlation analysis was carried out using the Pearson correlation technique. The study found that capital structure has an insignificant effect on the tax planning of sampled firms. Also, institutional ownership has a positive and insignificant impact on the tax planning activities. Meanwhile, institutional ownership moderates the relationship between capital structure and the tax planning strategies of the sampled firm. It was found that R² increased from 26% before moderation to 30% after introducing a moderator variable. This suggests that the model now explains 4% more of the variability in the data due to the introduction of a moderator, which is the institutional ownership. The study concludes that capital structure does not influence tax planning, institutional ownership has insignificant influence on tax planning, and institutional ownership moderates the relationship between capital structure and tax planning of listed consumer goods firms in Nigeria. Hence, the study recommends that the management of listed consumer goods firms in Nigeria should optimize capital structure with moderate leverage to unlock tax planning benefits. Institutional investors are recommended to strengthen oversight, capitalizing on their moderating role to boost tax efficiency and firm value in listed consumer goods firms.

Board Characteristics and Biodiversity Disclosure: Empirical Evidence from Listed Firms in Indonesia

Wahdan Arum Inawati — 2026-05-13

Biodiversity loss has emerged as a major global concern affecting governments, corporations, and stakeholders, leading to increased emphasis on corporate biodiversity disclosure and the growing role of accountants in measuring and reporting natural capital under both normative and coercive institutional pressures. This study aims to investigate the correlation between board characteristics, consist of board size, board attendance, and board specific skills on biodiversity disclosure in Indonesia Siock Exchange (IDX) listed companies for the period 2015 until 2025. The dependent variable used in this study is biodiversity disclosure with Biodiversity Impact Reduction Score as a proxy. This research used quantitative methods with purposive sampling and 27 companies (297 data observations) as samples. Data collected from LSEG Workspace. Researchers used panel regression with Eviews as data processing tools. The result show that board size, board attendance, and board specific skills have simultaneous effect on biodiversity disclosure, while there is no effect between board size, board attendance, and board specific skills to biodiversity disclosure variable partially. This show that the board is only public relation tool among stakeholders, lacks transparency and accountability to environmental impacts. Furthermore, the sample expansion and other proxy for dependent variable for future research are provided.

An Extended UTAUT Model for Determining the Factors Affecting Online Apparel Purchase Intentions of Customers: Moderating Role of Post Purchase Dissonance

Ram Singh — 2026-05-14

Background: E-commerce has transformed the retail industry, particularly in apparel, making it important to understand the factors influencing consumers’ online behavioral intentions, especially in contexts where perceived risk remains a key concern and technology adoption models such as UTAUT provide partial but limited explanatory power.

Purpose: This study aims to extend the Unified Theory of Acceptance and Use of Technology (UTAUT) model to identify and analyse the factors that influence the online purchase intentions of customers, specifically for apparel purchases. It also examines the moderating role of post-purchase dissonance in shaping these purchase intentions.

Methodology: This research uses a quantitative research approach, collecting primary data of 591 responses from a diverse sample of 750 online apparel consumers across Uttar Pradesh through questionnaires distributed to a sample of online apparel shoppers. The extended UTAUT model incorporated additional constructs such as trust, perceived risk, and social influence, along with the original factors of performance expectancy, effort expectancy, and facilitating conditions. Structural equation modelling (SEM) was used to analyse the data and test the hypothesised relationships between the variables. Further, a focus group discussion was conducted to triangulate the findings of the analysis.

Findings: The findings indicate that performance expectancy, effort expectancy, trust, and social influence significantly affect online apparel purchase intentions. Perceived risk negatively impacts these intentions. Additionally, post-purchase dissonance was found to moderate the relationship between these factors and purchase intentions, with higher levels of dissonance weakening the positive effects of trust and social influence on purchase intentions.

Value of this study: This research contributes to the existing literature by extending the UTAUT model to the context of online apparel shopping and integrating the moderating effect of post-purchase dissonance. It provides valuable insights for e-commerce businesses and marketers to enhance customer satisfaction and loyalty by addressing the critical determinants of purchase intentions and mitigating post-purchase dissonance.

Examining the Influence of Household Demographic Dynamics on pay-TV Penetration in Machakos County, Kenya

Kawira Faith Joseph — 2026-05-14

Market penetration of digital media services, particularly traditional pay-TV and emerging OTT platforms, depends not only on infrastructure availability but also on demographic factors that shape household adoption and consumption behavior. This study examines the impact of demographic dynamics on pay-TV market penetration within Machakos County, Kenya. Grounded in the Technology Acceptance Model (TAM) developed by Davis (1989) and the Unified Theory of Acceptance and Use of Technology (UTAUT) formulated by Viswanath Venkatesh et al. (2003), the study examines how key dimensions of demographic dynamics—namely age, household size, and educational attainment—shape the adoption of subscription broadcasting services. Demographic dynamics are epitomized by their role in shaping consumer readiness, digital literacy, and media preferences through a strong emphasis on user characteristics and household structure. These attributes are particularly pertinent within the pay-television industry, which is characterized by intense competition and rapid technological advancement, thereby necessitating a comprehensive understanding of consumer demographics to achieve sustained market penetration and long-term success. A descriptive research design was employed, involving a representative sample of 385 households drawn from the sub-counties of Mavoko, Mwala, Yatta, and Machakos Town. Data were gathered through structured questionnaires designed to capture household perceptions regarding the influence of demographic factors on pay-television subscription behavior. The data were subsequently analyzed using descriptive statistical techniques alongside multiple regression analysis to determine the relationships among variables and to assess the predictive strength of demographic factors. The findings indicated that demographic dynamics were a statistically significant determinant of pay-TV penetration (p < 0.05), highlighting a county-wide transition toward diverse content consumption driven by education and urbanization. Despite varying across household types, demographic alignment contributed hugely to perceived utility, service relevance, and subscription continuity. The research concludes that demographic-oriented practices remain a crucial enabler of market penetration, particularly when service offerings are tailored to specific household profiles. The study recommends that pay-TV companies develop age-appropriate content portfolios, entrench education-tiered service packages, and incorporate demographic intelligence into their marketing processes. Such practices would enable firms to translate consumer-driven characteristics into long-term market results, strengthening both penetration and sustainable success.

The Impact of Host Countries' Digital Economy Development on China's Digital Service Export Trade: Based on Panel Data of Global South Countries

Run-sheng Wang — 2026-05-15

Background: Amid accelerating digital globalization and the rise of the Global South, host-country digital economy development has become a crucial driver shaping China’s digital service export trade and South–South digital cooperation.

Aims: To investigate the impact of host-country digital economy development on China's digital service exports, shifting the analytical focus from the exporting country to the demand-side determinants in emerging markets.

Study Design: Quantitative panel data analysis.

Place and Duration of Study: 60 Global South economies, utilizing macro-level panel data from 2014 to 2023.

Methodology: We employed a rigorous two-way fixed-effects model to control for unobserved heterogeneity. Mechanism tests were conducted utilizing a two-step approach to examine the intermediate variables of bilateral trade frictions and host-country institutional quality. Heterogeneity analyses evaluated differences across market types and service knowledge intensity.

Results: We documented a robust positive trade-creation effect: a one-standard-deviation increase in the host country's digitalization index corresponds to an average growth of approximately 29.6% in China's digital service exports, significantly driving bilateral trade expansion. This effect is particularly pronounced in Global South markets and for high-value-added knowledge-intensive sectors (e.g., intellectual property royalties). Mechanistically, this trade-creation effect is channeled via the reduction of bilateral trade costs and the enhancement of host-country institutional quality.

Conclusion: Emerging economies should prioritize joint digital infrastructure investments and hardware-software capacity-building. Cultivating a mutually beneficial global digital trade ecosystem will effectively foster South-South digital trade integration.

Driving Multidimensional Sustainability: The Role of Entrepreneurial Marketing, Transformation, and Financial Capabilities in SMEs

Rupak Kumar Tung — 2026-05-15

Small and medium-sized enterprises (SMEs) face mounting pressure to achieve multidimensional sustainability—covering economic, environmental, and social dimensions—amidst increasing resource depletion and evolving market preferences. This research looks at the important role of internal skills, specifically Entrepreneurial Marketing (EM), Transformation Capability (TRC), and Financial Capability (FCB), in promoting the multidimensional sustainability of small and medium-sized businesses. With increasing resource depletion and changing market preferences, the study shifts from focusing solely on digital transformation to a balanced model that includes Economic (STE), Environmental (STV), and Social (STS) performance. Using a quantitative approach and PLS-SEM analysis of 315 business actors, the findings show that Entrepreneurial Marketing is the strongest and most universal driver, significantly enhancing all three sustainability dimensions (β range: 0.161–0.241, p<0.01). Financial Capability acts as a specialized catalyst for Environmental Behavior (β= 0.228, p<0.001), while Transformation Capability mainly influences Social Concern Behavior (β= 0.221, p= 0.001). These results offer a strategic guide for practitioners, highlighting that while marketing drives overall success, financial and transformation skills should target specific ecological and social outcomes to achieve true, balanced sustainability.

Driving SME Performance through Dynamic Capabilities: The Role of Market Orientation

Emad Alani — 2026-05-15

Background: Small and medium-sized enterprises (SMEs) operate in rapidly changing and highly competitive markets, requiring adaptive strategies to sustain performance. The Dynamic Capabilities perspective highlights the importance of firms’ ability to reconfigure resources and respond to environmental changes. In this context, Market Orientation enables SMEs to understand customer needs and market trends, thereby enhancing innovation, competitiveness, and overall organisational performance.

Objectives: This study outlines the complex effects of dynamic capabilities, namely sensing, learning, integrating, and coordinating, on SME performance, and then hypothesises market orientation, which is the key moderator, which facilitates effective alignment of internal routines with changes in the environment.

Methodology: Using a powerful analytical model, which includes a sample of one hundred thirteen private SMEs,

Findings: The results of the research could suggest that learning and integrating capabilities can serve as the key drivers of performance, which, together, can explain a significant share of the organisational success in resource-constrained environments. Importantly, the results may indicate that market orientation acts as a strategic filter across the four dimensions of dynamic capabilities, hence bringing about a multiplication of the effectiveness of environmental sensing and organisational learning due to the avoidance of capital misalignment to unproductive market noise. The last structural model, which explains 38.4% of the firm performance variance, might indicate that synergy of a market-driven culture and adaptive reconfiguration routines is a core driver of strategic nimbleness and sustainability in the case of Iraqi SMEs.

Implications: Theoretical implications broaden the dynamic capabilities perspective to high-turbulence, transitioning economies, whereas practical recommendations recommend Iraqi managers regarding the prioritisation of customer and competitor intelligence as the indispensable trigger of the achievement of digital and operational excellence.

Sustainable Development and Corporate Internationalization: The Impact of ESG Performance on Enterprises' Foreign Direct Investment

Qing-bin Wu — 2026-05-16

In the process of globalization, corporate social responsibility has gradually become a focus of public attention, and environmental, social and governance (ESG) performance has increasingly become an important manifestation of a company's competitiveness. Outward Foreign Direct Investment (OFDI) refers to investment activities carried out by enterprises in foreign countries with the aim of obtaining long-term benefits, and it is the core form of an enterprise's international operation. Based on the observed values of 4,244 listed companies on the Shanghai and Shenzhen Stock Markets from 2006 to 2024, this paper uses a fixed-effect model for empirical analysis to explore the multi-dimensional impact mechanism of ESG performance on OFDI. The research finds that ESG performance has a significant promoting effect on OFDI; good ESG performance can reduce investment risks, enhance the company's social recognition and brand value, alleviate operational risks, and expand emerging markets, thereby strengthening the company's capital acquisition ability. This study not only enriches the relevant theories of ESG economic consequences and enterprise internationalization, but also provides practical guidance for Chinese enterprises to reduce overseas investment risks and enhance international competitiveness by improving ESG levels, and at the same time offers experience-based references for government departments to improve ESG regulatory policies and guide enterprises to "go global" in a high-quality manner.

Mapping Global Research Landscape of Celebrity Endorsement: A Bibliometric Analysis using Biblioshiny and VOSviewer (1984–2026)

Dhanraj Gaddameedhi — 2026-05-18

Celebrity endorsement has emerged as one of the most researched constructs in marketing communication, driven by multi-billion-dollar investments that make brands worldwide influential in leveraging celebrities to shape consumer attitudes, purchase intentions, and brand equity. Despite the considerable growth of the field, no comprehensive bibliometric synthesis has mapped the complete intellectual structure, geographical contributions and thematic evolution of this research domain from its foundational years to the present. This study addresses this gap by carrying out a systematic bibliometric analysis of 1,004 Scopus-indexed documents published between 1984 and 2026.

The analysis used the bibliometric R package (Biblioshiny) for performance analysis and VOSviewer for network visualisation, guided by the seven-stage bibliometric framework of Passas (2024). Results show a compound annual growth rate (CAGR) of 16.0% in the publication edition from 2000 to 2024, recording the highest annual productivity in 2024 (n = 105). The United States has led the world with 424 publications, followed by India (303) and China (213). Roy S. was the most productive author (17 publications; h-index = 12), while Psychology and Marketing dominated all other journals (23 articles; TC = 3.094). The keyword co-occurrence network (37 nodes and 7 clusters) revealed the field’s evolution from credibility-focused source characteristics to digital influencer marketing, parasocial relationships and real-time social commerce. The thematic evolution analysis presents the transition of research from traditional advertising paradigms to platform-specific strategies.

These findings provide researchers and marketing practitioners with a comprehensive roadmap of the intellectual terrain of celebrity endorsement works and identify critical future research directions, including underexplored geographical contexts, emerging digital platforms, and unused theoretical frameworks.

Energy Consumption, Economic Growth, Financial Development and Environmental Sustainability: Evidence from Sub-Saharan Africa Region

Peter Mwai Kinuthia — 2026-05-19

This study examines how renewable energy consumption, non-renewable energy consumption, financial development, and economic growth influence environmental sustainability in Sub-Saharan Africa. Using panel data for 22 Sub-Saharan African countries over 2000–2023 which is 528 country-year observations, we estimate a dynamic emissions model with the system Generalized Method of Moments to address endogeneity and persistence, and we report fixed-effects and random-effects estimates as robustness checks. The results show that renewable energy consumption is associated with lower emissions, while non-renewable energy consumption, foreign direct investment, and economic growth are associated with higher emissions. These findings imply that accelerating the deployment of renewables supported by green finance and supportive regulation can help decouple growth from emissions and enhance environmental sustainability. From an operations research perspective, the estimated coefficients provide empirically grounded parameters for multi-objective decision models that balance emissions reduction with energy security and economic development in SSA. Policymakers and practitioners in the energy sector, as well as government leaders, need to focus on incorporating renewable resources into their energy strategies to counteract environmental sustainability.

Assessing the Nexus between Digitalization, Digital Financial Literacy, and Financial Behaviour Transformation among Individuals

Himanshu Kolte — 2026-05-19

The rapid expansion of digital technologies has significantly transformed financial systems, reshaping individuals’ financial knowledge, access, and behaviour. The purpose of the study is to assess the Nexus Between Digitalization, Digital Financial Literacy, and Financial Behaviour Transformation Among Individuals. However, no comprehensive study has been conducted in the state of Chhattisgarh to examine the relationship. This study examines the level of digitalisation and digital financial literacy among individuals and analyses their relationship with financial behaviour transformation. The present study adopts an exploratory, descriptive, and explanatory research design and is based on primary data collected through a structured questionnaire from 95 respondents residing in the capital city of Chhattisgarh using the convenience sampling method. The measurement of digitalisation was adapted from the Digital Economy and Society Index (DESI) and the OECD Model Survey on ICT Access and Usage, while digital financial literacy and financial behaviour items were drawn from the OECD/INFE (2023) International Survey of Adult Financial Literacy. Reliability analysis confirmed strong internal consistency of the scales. Descriptive statistics revealed a high level of digitalisation (97.9%) among respondents, while digital financial literacy was found to be moderate to high. To examine relationships among variables, Spearman’s rank-order correlation was employed due to non-normal data distribution. The results indicate a statistically significant positive relationship between digitalisation and digital financial literacy, suggesting that greater digital exposure enhances individuals’ financial knowledge and skills. Digitalisation was also found to be positively associated with financial behaviour transformation, highlighting its role in promoting digital financial practices. Notably, digital financial literacy exhibited the strongest positive relationship with financial behaviour transformation, underscoring its critical role in converting digital access into meaningful behavioural change. The findings emphasize that while digital infrastructure is essential, digital financial literacy serves as a key driver of responsible and effective financial behaviour. The study concludes that policy interventions should focus on strengthening digital financial education alongside digital inclusion initiatives to foster sustainable financial behaviour in a rapidly digitalising economy.

Corporate Social Responsibility and Profitability: Evidence from Listed Oil and Gas Companies in Nigeria

Akinde, Mukail Aremu — 2026-05-20

Background: Corporate social responsibility costs influence profitability in Nigeria’s oil and gas sector, where environmental, social, and financial pressures create a complex balance between stakeholder expectations and firm performance.

Aims: This study examined corporate social responsibility (CSR) and profitability of listed oil and gas companies in Nigeria. Key profitability indicators such as net profit margin (NPM), return on equity (ROE), and earnings per share (EPS) was employed, while social responsibility costs served as CSR proxy.

Study Design: Ex-post facto design was utilized as the study employs secondary data that cannot be tampered with.

Methodology: The study’s population consists of eight (8) oil and gas firms listed on the Nigerian Exchange Group, while purposive sampling technique was adopted to select a sample size of seven (7) oil and gas companies. The study gathered secondary data from seven listed oil and gas companies in Nigeria between 2014 and 2023. The data was gathered from the firms’ yearly financial statements. The study employed descriptive statistics and regression analysis.

Results: The findings revealed that social responsibility cost has insignificant effect on NPM and ROE (β = -0.325002, -0.011794, p = 0.6988, 0.9565 > 0.05), while social responsibility cost was found to positively and significantly affects EPS of listed oil and gas companies in Nigeria (β = 8.012202, p = 0.0445 < 0.05).

Conclusion: The study concludes that although CSR may not directly improve profit margins or returns on equity, it is however important for long-term profitability and financial performance. As a result, the management and board of directors of oil and gas companies should create a balance between making money and being socially responsible, as this would improve the firms’ profit margin and return on equity on the long run.

International Financial Flows and Economic Growth in Kenya: An Empirical Analysis

Joseph Mutana — 2026-05-20

International financial flows play a central role in development financing by enabling economies to access foreign capital, technology, markets, and liquidity needed for economic growth and investment. This paper empirically analyses the effect of international financial flows on economic growth in Kenya. The study focused on capital flight, illicit financial flows, external debt, and foreign direct investment as the main international financial flow variables. The study used annual secondary time-series data covering the period 1994–2024, yielding 31 observations. The data were analyzed using a ARDL model, with relevant diagnostic tests applied to assess normality, stationarity, multicollinearity, autocorrelation, homoscedasticity, cointegration, parameter stability, and structural breaks. The findings revealed that capital flight had a negative and significant effect on economic growth in both the current and lagged periods. Illicit financial flows also had a negative and significant current effect on economic growth. In contrast, external debt and foreign direct investment had positive and significant current effects on economic growth, suggesting that productive inflows may support growth when effectively managed. The diagnostic results confirmed that the model was generally reliable, although a significant structural break was detected in 2006. The findings provide useful insights for policymakers, financial regulators, government agencies, investors, and development partners in Kenya. The study recommends stronger control of capital flight and illicit financial flows, improved debt management, and policies that attract productive foreign direct investment.

The Effect of Liquidity, Profitability, Credit Risk and Profit Growth on Dividend Policy in the Banking Sector

Okky Raditya Aditama — 2026-05-20

Background: Signaling Theory or Signal Theory states that dividend changes are considered as a signal of a company's income. The banking industry has different characteristics compared to other sectors because its main activity focuses on the intermediation function, which is collecting funds from the public and redistributing them in the form of credit.

Objective: This study analyzes the effect of Loan to Deposit Ratio (LDR), Return On Assets (ROA), Non-Performing Loan (NPL), and profit growth on Dividend Payout Ratio (DPR)

Study Design: This study uses a quantitative approach with multiple linear regression methods. The data used are secondary data obtained from the bank's officially published annual financial statements.

Place and Duration of Study: the study examines several banking companies listed on the Indonesia Stock Exchange (IDX) from the 2019-2024 period.

Methodology: Data were collected using the purposive sampling method. The analysis used included descriptive statistics, classical assumption test, determination coefficient test (R²), simultaneous test (F test), and partial test (t test). Partially, Loan to Deposit Ratio (LDR), Non-Performing Loan (NPL), and profit growth had an effect on the Dividend Payout Ratio (DPR). Meanwhile, Return on Assets (ROA) had no effect on the Dividend Payout Ratio (DPR). In addition, the results of the determination coefficient test showed that most of the Dividend Payout Ratio (DPR) could be explained by independent variables.

Results: The results of the study concluded that the banking dividend distribution policy is more influenced by liquidity, credit quality, and company growth than the level of profitability. Profitability proxied by Return On Asset (ROA) has no effect on dividend policy. This finding indicates that the level of company profitability measured through the ability of assets to generate profits has not been the main factor in determining dividend distribution policies in the banking sector. Credit risk proxied with Non-Performing Loans (NPL) has a negative effect on dividend policy.

Conclusion: The study shows that the level of credit risk and the quality of banking assets affect the company's ability to set dividend distribution policies to shareholders. Profit growth has a positive effect on dividend policy. These findings indicate that companies with good profit growth tend to have a greater ability to distribute dividends to shareholders.

Cost-Benefit Analysis of Portable Power Generators with Conventional Versus Alternative Fuels for 2026 and Beyond in India

Pavitra Jakkana — 2026-05-21

Conventional fuels pose environmental and sustainability concerns in off-grid power generation for daily business operations of small scale enterprises in most parts of the developing world. Alternatives to conventional diesel-based off-grid power generation are need of the hour for standalone gensets in any developing country. There is a need to suggest an economically viable fuel-genset combo for off-grid power generation for environmental consciousness micro-scale businessmen and mini family households who would like to generate their own eco-friendly electricity where solar resources are minimal and alternative fuel resources are maximal. In this paper, India was chosen as the study country for being one of the highly off-grid power-demanded as well as populous developing country. Various generator sets’ specifications were taken from product datasheets, and performance losses of each genset type were included to quantify the cost to produce kilo-Watt-hour (kWh) using predicted average fuel price for 2035 based on average fuel prices from 2015-2025 of each fuel analyzed in this study. The customized Breakeven Time and customized Breakeven Price formula has been developed using general formula of breakeven calculation. Sensitivity analysis for each generator type has been done with its applicable fuel, alongside Net Present Value (NPV) and Benefit-To-Cost ratio (BCR). Results showed that average cost per kWh with diesel was USD 0.48 compared to alternative fuels such as B100, B5, B10, B20, White Biodiesel, Green Hydrogen, Blue Hydrogen, CNG and Syngas which stood at USDs 0.34, 0.27, 0.31, 0.28, 0.24, 0.32, 0.22, 0.46 and 0.53 respectively, indicating syngas as least-costliest fuel. The breakeven time, NPV, and BCR were calculated to report the most beneficial fuel of all fuels studied. The results showed B100, B20 and green hydrogen are beneficial in terms of NPV, in the order of merit fuels of all.

When Awareness Meets Action: What Shapes the Journey toward Smart Marketing in Nigerias Agribusiness Sector

I. I. Ukoha — 2026-05-22

All over the world, the use of smart marketing innovations (SMIs) is gradually reshaping how agribusiness operators connect with markets, but it has been observed that the level of adoption of these technologies has remained limited in many parts of Nigeria. This study seeks to examine the level of awareness and the drivers and constraints to adoption among agribusiness operators in Nigeria. While we made use of the multi-stage sampling method, 168 respondents were selected from a population of 308 across the three agricultural zones using Yamane’s formula alongside the probability proportional to size (PPS). The data were collected through structured field surveys and analyzed using descriptive statistics and a multinomial logit model. The findings from this study revealed that digital payment systems were widely known and used, while precision marketing and customer relationship management (CRM) tools had low awareness. Age, income, ICT literacy, staff size, and access to internet and training significantly influenced adoption decisions. Major constraints included the high cost of digital tools and poor internet connectivity. The study recommends targeted digital literacy programs, accessible financing options, and improved rural internet infrastructure to enhance adoption, enabling agribusiness operators to fully leverage smart marketing innovations and strengthen their competitiveness.