Asian Journal of Economics, Business and Accounting

A Descriptive Review on BRICS Economy and Evolution of BRICS as Common Currency

Sukanya R — 2026-02-04

This study is an attempt for understanding BRICS as a common currency. It is a discussion in world market since 2009 but this study focus on BRICS expansion in 2025 and present context. The significance of BRICS expansion especially in world market is included in this descriptive study. This study also includes BRICS impact on international trade. The data which is included is from IMF for BRICS countries contribution of GDP, PPP, revenue, expenditure and fiscal balance to analysis and comparison of variables for future development. The statement are analyse in positive view of implementation of BRICS. The study is few countries economy measurement scale is describing by using secondary data. The key insights of the study is how significant it is for developing countries after implementation of BRICS currency in trade, import and export. The paper addresses a timely important and policy relevant topic with the proposed BRIC currency and the bloc to expand the economic and political influences. This is of potential interest for scholars and policy makers in international economic and political arena which will discuss on the de-dollarization, global governance reforms, and south-south corporation.

An Assessment of Financial Performance among Integrated Reporting Adopters Versus Non-Adopters on the Nairobi Securities Exchange

Dominic Abuga Omare — 2026-01-31

This study assesses whether financial performance differs between Nairobi Securities Exchange listed firms that adopt integrated reporting and those that do not, and whether any differences emerge over time. Using a panel dataset of NSE-listed firms observed across multiple years with 2015 as the baseline, the study applies a year fixed-effects regression framework to control for time effects while testing whether IR adoption status explains variation in firm performance. Integrated reporting is operationalized as a binary indicator (adopter = 1; non-adopter = 0). Financial performance is captured using both accounting-based measures (return on assets, return on equity, net profit margin, and return on investment) and a market-based measure (firm value). The regression results show that IR adoption status is not a statistically significant predictor of firm value, net profit margin, return on equity, return on assets, or return on investment in the short run, indicating that adopters do not immediately outperform non-adopters. However, the year fixed effects reveal that several performance indicators improve progressively over time relative to the baseline year, suggesting that performance gains may accumulate gradually as firms gain experience with IR and strengthen internal alignment of strategy, risk management, governance, and reporting processes. The findings imply that integrated reporting is unlikely to deliver immediate financial benefits but may support longer-term improvements in performance trajectories. The study recommends that NSE firms focus on sustained and high-quality IR implementation and that regulators promote credibility and comparability to enhance value relevance.

Determinants of Environmental, Social and Governance (ESG) Disclosure and Its Effects on Financial Performance: Evidence from Agroindustry and Environmentally Sensitive Firms in Indonesia

Ririn Irmadariyani — 2026-02-02

Background: Companies with higher levels of Environmental, Social, and Governance (ESG) disclosure tend to exhibit better financial performance due to their ability to manage environmental and social risks effectively while enhancing their reputation among investors and consumers.

Aims: This study examines the determinants of ESG disclosure and analyses its impact on financial performance in companies operating in Indonesia’s agroindustry and high-pollution sectors.

Study Design: This research uses a quantitative explanatory research design.

Place and Duration of Study: The study covers companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022, using secondary data from financial reports, annual reports, and sustainability reports published through company websites. The observation period follows the availability of ESG and financial disclosure data during the study timeframe.

Methodology: The study applies a quantitative approach using secondary data. The sample consists of 234 companies from agroindustry and other high-pollution sectors, including mining, fossil fuels, fashion, food retail, transportation, and construction. ESG disclosure is measured using an ESG Score. Three regression models are estimated. The first model analyses determinants of ESG disclosure. The second and third models test the impact of ESG disclosure on financial performance. Multiple linear regression is used to examine the relationships between ESG disclosure, company age, sales growth, and financial performance measured by Return on Assets (ROA).

Results: The results show that ESG disclosure has a significant positive effect on ROA. Company age also shows a significant positive relationship with ROA, indicating that firms with longer operational histories tend to have better financial performance. Sales growth does not have a statistically significant effect on ROA. Overall, the findings indicate that higher ESG disclosure is associated with stronger financial performance, particularly among firms in high-pollution sectors.

Conclusion: The study concludes that ESG disclosure plays an important role in enhancing financial performance in Indonesian agroindustry and high-pollution companies. Integrating ESG considerations into corporate strategy can support both sustainability objectives and financial outcomes. These findings highlight the relevance of ESG practices for companies facing higher environmental and social risks.

Strategic Management Practices and Entrepreneurial Orientation among Medium Scale Enterprises in Akure, Ondo State, Nigeria

Faloye, D.O. — 2026-02-02

Strategic management is a top-level activity focused on decision-making regarding an organisation’s mission, vision, philosophy, objectives, strategies, and policies. This study scrutinized the relationship between strategic management and entrepreneurial orientation among medium-scale enterprises (MSEs) in Akure, Ondo State. A survey research design was employed, targeting a population of 2,160 registered enterprises. A sample of 200 enterprises was selected using Smith’s (1984) sampling formula, and simple random sampling was used to ensure fair representation. A structured and validated questionnaire served as the primary data collection instrument. Of the 200 questionnaires distributed, 191 were returned, yielding a high response rate of 96%. The reliability of the instrument was confirmed using Cronbach’s Alpha, with a coefficient of 0.836, indicating strong internal consistency. Descriptive and regression analyses were employed to address the research questions and test the study hypotheses. The findings revealed a significant positive relationship between strategic management practices and entrepreneurial orientation among MSEs in Akure. Socio-Economic Characteristics had a regression coefficient of 0.007004 (t=3.439912>2), suggesting that a one-unit increase in these characteristics is associated with a 0.007004 unit increase in entrepreneurial orientation, holding other variables constant. Performance control attributes yielded a coefficient of 0.027098 (t= 3.645051>2), indicating a stronger predictive relationship with entrepreneurial orientation, implying a strong significant relationship between socio-economic characteristic and entrepreneurial orientation. In light of these findings, the study recommends the development and implementation of robust entrepreneurship education programs tailored to the unique needs of MSEs in Akure. These programs should focus on equipping entrepreneurs with essential skills for strategic planning, innovation, and sustainable growth. These efforts are essential to bridge existing gaps in entrepreneurial capacity, especially among youth and first-time business owners. They align with the study's theoretical framework, which emphasizes the critical role of education and systemic support in fostering effective entrepreneurial orientation and long-term business success.

Digital Payment Trends and Institutional Financial Implications: Global Evidence and a Case Study of a Philippine Higher Education Institution

Leo Santiago III Arrabaca — 2026-02-02

This study looks at global and national trends in digital payment adoption and explores what these mean for institutions, using a case study from a higher education institution in Northern Mindanao, Philippines. Most research so far has focused on consumer behavior, fintech innovation, or financial inclusion, but few have examined how digital payment reforms affect financial practices within institutions, especially in higher education and developing countries. This study fills that gap by connecting broader digital payment trends to how institutions respond, using publicly available data.

The study uses a descriptive, document-based research design along with a case study of one institution. Data come from international datasets, national policy reports, and public documents from 2020 to 2024. Payment Choice Theory is the main framework to explain changes in payment adoption based on convenience, cost, and access. The Financial Inclusion Framework and Institutional Theory help place these changes in the context of policy and how organizations adapt.

The findings show that digital payment use has steadily increased worldwide and in the Philippines since 2020. By 2024, most retail payments are digital. At the university studied, several digital payment options were adopted to match national systems, showing gradual changes in operations rather than major structural shifts.

The study concludes that national digital payment reforms influence how institutions manage their finances, but the effects depend on local policies, available infrastructure, and organizational habits. By showing how to use public data to study these responses, this research adds new evidence to a less-studied area and provides a method that others can use to study institutional finance in higher education in developing countries.

Audit 5.0 and the Digital Transformation of Auditing: The Role of Big Data Analytics and Artificial Intelligence in Enhancing Audit Quality and Decision-Making

Isaiah Osemudiamen Okogun — 2026-02-03

Background: The rapid adoption of digital business models has led to an exponential increase in the volume, velocity, and complexity of data exchanged across interconnected organizational ecosystems. This transformation presents both opportunities and challenges for the auditing profession, as traditional audit approaches struggle to cope with real-time data flows and technologically driven risks. Advances in digitalization—particularly Big Data Analytics (BDA), artificial intelligence (AI), and intelligent automation—are redefining audit processes by enabling continuous assurance, enhanced accuracy, and improved reliability. Within this context, the emerging Audit 5.0 framework emphasizes real-time auditing, intelligent systems, and effective human–AI collaboration as core pillars of modern assurance practices.

Objective: The objective of this study is to examine how digitalization, specifically through the adoption of BDA and AI, influences internal and external auditing within the Audit 5.0 paradigm. The study aims to assess the impact of these technologies on audit quality, risk management, and decision-making, while also examining their implications for auditor roles, competencies, and professional standards, practitioners and regulators within contemporary institutional frameworks. Audit 5.0 presents key challenges related to data quality and integration, the complexity and explainability of advanced technologies, regulatory and ethical uncertainty, and skills shortages combined with cultural resistance within the profession. However, big data analytics and artificial intelligence offer significant opportunities by enabling real-time and predictive risk assessment, expanding audit coverage through full-population testing, improving accuracy, reducing costs and increasing efficiency. Ultimately, Audit 5.0 represents a paradigm shift in auditing, where the effective and responsible use of digital technologies enhances audit quality, strengthens professional judgement, and delivers greater strategic value to stakeholders.

Research Method: The study employs a mixed-method research design combining a systematic literature review with empirical analysis, analytical approach, synthesizing prior academic literature, professional standards and regulatory perspectives to assess the role of BDA and AI in audit processes, including risk assessment, anomaly detection and continuous auditing. The literature review synthesizes prior theoretical and empirical studies on digital auditing, Audit 5.0, BDA, and AI. Empirical data are analyzed using structural equation modeling and relevant statistical tests to assess relationships among digitalization, audit processes, and audit outcomes, with particular focus on organizations in the finance and technology sectors.

Research Result: The findings indicate that audits supported by BDA and AI significantly outperform traditional audit approaches. The results further reveal that digitalization improves audit productivity, facilitates continuous auditing, strengthens data security, and enhances stakeholder trust. With consistent empirical evidence that AI investment correlates with reductions in audit restatements and improved efficiency, these technologies can transform audit practices by enabling real-time and predictive risk assessment and enhanced fraud detection, thereby expanding audit coverage and accuracy beyond traditional sampling method. There are need for stronger governance, ethical frameworks and targeted training to fully realize the benefits of digital auditing. Overall, the evidence confirms that integrating BDA and AI within the Audit 5.0 framework represents a fundamental shift toward intelligent, adaptive, and value-driven auditing, while underscoring the need for enhanced auditor competencies and alignment with evolving regulatory and professional requirements.

Leadership and Skills Development Trends in Global Business Schools

Leo Santiago III Arrabaca — 2026-02-04

This study looked at leadership and skill development trends highlighted by top global business schools, using publicly available documents. It also explored how these trends connect to a local School of Business and Management in Northern Mindanao, Philippines. The research used a qualitative comparative document analysis, reviewing official materials from ten internationally recognized business schools chosen based on the 2025 Financial Times Global MBA Ranking, international accreditation, and document availability. Data were analyzed using a mix of deductive and inductive content analysis, guided by Institutional Theory and Human Capital Theory.

The study found eight main leadership and skill categories: ethical leadership, strategic and critical thinking, global and cultural competence, innovation and entrepreneurship, digital and technological skills, communication and collaboration, sustainability and social impact, and career and professional skills. Global institutions show strong similarities, but differences in focus reflect their unique positions and local needs. When compared to the local institution, there is strong alignment in ethical leadership and career readiness, local adaptation in global competence and entrepreneurship, and a growing need to better define digital and technological skills.

The study shows that global business education trends balance the need for institutional legitimacy and employability, while still allowing for local adaptation. These results provide a starting point for strategic planning and suggest areas for future research on curriculum design and digital skill development in business education.