Asian Journal of Economics, Business and Accounting

Balancing Deregulation and Risk: A Framework for AI Deployment in U.S. Municipal Governance

Bolouboye Micah Eradiri — 2025-10-31

Purpose: This study addresses the critical challenge of integrating artificial intelligence (AI) into U.S. municipal governance. It seeks to balance the innovation potential of AI, highlighted by federal initiatives like Executive Order 14179, against significant risks to data security, algorithmic fairness, and democratic accountability.

Methods: The research analyzes and synthesizes a body of pertinent literature, policy documents, and existing governance frameworks. This methodological approach is designed to develop insights directly useful to municipal leaders.

Findings: The article introduces the Municipal AI Governance Model (MAGM) as a unified framework for promoting innovation while minimizing risk. The model establishes a tiered governance structure as the basis for its recommendations, which are tailored to different AI deployments, regulatory environments, and stakeholder preferences. The findings suggest that successful AI deployment requires a comprehensive risk assessment framework, multi-stakeholder governance, and adaptive monitoring mechanisms.

Conclusion: The MAGM provides a strategic implementation roadmap designed to build community trust and align with potential federal requirements. By focusing on improving governance efficiency without compromising public trust or accountability, this paper contributes to the expanding literature on algorithmic governance and offers practical insights for deploying AI in a changing policy context.

Artificial Intelligence and Its Implications for Banking and Finance in Indonesia

Farhat Imteyaz — 2025-11-04

The present study examines the impact of Artificial Intelligence (AI) adoption on the performance of Indonesia's banking and financial sectors. By comparing data from the World Bank, CEIC, BIS, and Otoritas Jasa Keuangan (OJK) during the pre-AI (2002–2018) and post-AI (2019–2023) periods, the research identifies key trends. The study shows that, after AI implementation, non-banking financial institutions (NBFIs), mutual funds, and insurance companies experienced growth, while the number of commercial banks declined. The growth rate of banks dropped from 15.17% to 7.24%, despite an increase in total assets. The analysis reveals that the top five banks showed higher asset concentration, lower cost-to-income ratios, reduced administrative expenses, improved lending-deposit spreads, and fewer non-performing loans. AI contributed to slight improvements in financial inclusion and increased operational efficiency, leading to a greater enhancement in Return on Equity (ROE) compared to Return on Assets (ROA). These findings suggest that AI promotes stability and efficiency but also increases market concentration. This outcome underscores the need for strategic AI investments to ensure balanced growth in the sector.

Exploring Startup India's Contribution to the Growth of India's Startup Ecosystem

Suman Kumari — 2025-11-06

India's economy, one of the fastest-growing globally, relies heavily on its startup ecosystem. The Indian government recognised the importance of entrepreneurship and made efforts to establish an entrepreneurial ecosystem that fosters inclusive growth. These efforts aim to create a favourable environment for innovation, economic growth, and job creation. Startup India is a flagship program designed to transform India into a hub of job creators, offering a broad spectrum of support mechanisms, including legislative reforms, financial assistance, tax exemptions, and collaborations with industry and academia. The study examines the startup ecosystem in India, which is facilitated by the scheme, contributing to India's economic growth and generating significant employment opportunities through bank financing. The study employs secondary sources like reports and published papers to analyzing the growth of Startups in India. The study concludes that Startup India has opened up various opportunities for the young generation and ignited entrepreneurial zeal in various fields.

Testing the Environmental Kuznets Curve (EKC) for the United States

Esther Omolade Soyode — 2025-11-06

This study empirically tests the Environmental Kuznets Curve (EKC) hypothesis for the United States using annual data from 1971 to 2021. The EKC posits an inverted U-shaped relationship where economic growth initially exacerbates environmental degradation before eventually mitigating it after a certain income threshold is reached. This analysis uses ecological footprint per capita to measure environmental degradation and GDP per capita to represent economic growth.

The methodology applies Ordinary Least Squares (OLS) and Generalized Least Squares (GLS) regression techniques to model the non-linear relationship. A key contribution is the incorporation of a structural break analysis to account for the effects of the 2008 global financial crisis, which was confirmed to be statistically significant. The GLS estimation, which corrects for serial correlation present in the OLS model, provides clear evidence supporting the EKC hypothesis for the U.S. The results indicate that while initial economic growth increases the ecological footprint, a turning point is reached after which higher income levels lead to environmental improvement. This finding underscores the critical role of technological advancement, scale effects, and regulatory frameworks in enabling sustainable development pathways in high-income economies.

The Impact of Digital Financial Literacy on Cybercrime Victimization: Evidence from the Digital Banking Customers in Commercial Banks of Sri Lanka

G. Weerasinghe — 2025-10-21

The rapid digital transformation of the banking sector has expanded financial inclusion and efficiency but also exposed consumers to rising risks of cybercrime. In Sri Lanka, digital banking platforms such as Sampath Vishwa, PeoPay, and mobile wallets are widely adopted, yet cyberattacks including phishing and unauthorized transfers remain prevalent. Against this backdrop, this study investigates the impact of Digital Financial Literacy (DFL) on cybercrime victimization among digital banking customers in Sri Lankan commercial banks. Guided by the Theory of Planned Behavior (TPB) and Routine Activity Theory (RAT), the research adopts a positivist philosophy and a deductive approach, employing a cross-sectional survey design. Data were collected from 381 digital banking users across provinces using a stratified random sample and analyzed through Partial Least Squares Structural Equation Modeling (PLS-SEM). Findings reveal that user attitudes, digital financial knowledge, and subjective norms significantly reduce the likelihood of cybercrime victimization, while perceived behavioral control and awareness showed no direct effect. Among control variables, age demonstrated a significant correlation with victimization, whereas gender and education did not. The study concludes that DFL is a multidimensional construct that functions both as a behavioral enabler and a guardianship mechanism, shaping safer online financial practices. The results highlight the urgent need for banks and policymakers to design structured literacy and awareness programs that strengthen consumer knowledge and attitudes while leveraging social influence to promote secure digital practices. By demonstrating the preventive role of DFL, the study contributes to theoretical discourse at the intersection of finance, behavior, and criminology, while offering practical insights to enhance cybersecurity resilience in the Sri Lankan banking sector.

Financial Innovation, Financial Inclusion and Economic Growth in Nigeria: A Quantitative Analysis (2014 – 2023)

OWOLABI, A. O. — 2025-10-21

This study quantitatively assessed how financial innovation and inclusion affect Nigeria's economic growth between 2014 and 2023. Using time-series data from the 2023 Central Bank of Nigeria (CBN) Statistical Bulletin and the World Development Indicator, the research applied the Ordinary Least Square (OLS) Multiple Regression technique. The key findings are: Positive Impact of Innovation: Financial inclusion and digital banking channels, specifically ATM and mobile transactions, were found to have a positive impact on economic growth, Strongest Digital Drivers: The value of Point of Sale (POS) transactions had the most powerful positive effect on growth, followed by ATM, mobile, and web transactions, Inconsistent Results: While the value of POS and web transactions was generally significant, their impact was not entirely consistent throughout the analysis and Bank Branches Ineffective: Notably, the number of bank branches (NBB) showed no positive impact on economic growth, suggesting that the high capital expenditure on physical branches does not drive the economy. As a result of these findings, the paper concluded that financial inclusion and banking sector innovations have an important role to play in fostering economic growth in Nigeria. Finally, the paper recommended that recent technology should be adopted to enhance the use recent innovation and opening of more banks’ branches should be encouraged to enhance the existing financial institutions in Nigeria.

The Moderating Role of Knowledge Retention in the Relationship between Innovation Capability and Learning & Growth

O.E. Ibironke — 2025-10-22

Purpose: Based on the general assumptions of the resource-based view and the organization knowledge conversion theory, the study assessed the interactions of innovation capability, knowledge retention, and learning & growth focusing on five Deposit Money Banks (DMBs) in Oyo State, Nigeria.

Method: A survey-based approach to research with N=377 DMB employees at three management levels in Ibadan Oyo States, Nigeria, was studied. A moderated regression analysis was used to test the three-way hypotheses framed in the study.

Findings: The results showed that innovation capability significantly influenced the learning & growth of DMBs investigated. Further analysis showed that knowledge retention enhanced the established influence of innovation capability on learning & growth to suggest a significant moderating effect.

Conclusion: The study concluded that innovation capability and knowledge retention are critical success factors that improved the learning & growth of DMBs in Ibadan Oyo States, Nigeria. This findings align with expectations of the RBV which considered innovation capability and knowledge retention as vital intangible resources of a firm for achieving competitive superiority. The study recommended that the management of the selected DMBs in Ibadan Oyo State, Nigeria interested in achieving competitive advantage through learning & growth should invest significant resources to improve their innovation capability and knowledge retention infrastructure.

Determinants of Savings among Bank of Agriculture (BOA) Loan Beneficiary Farmers in South East, Nigeria

Uhuegbulem, I.J — 2025-10-22

Aims: The present study examines the socioeconomic characteristics, savings behavior, determinants, and constraints to savings among Bank of Agriculture loan beneficiaries in South East Nigeria.

Study Design: Descriptive and econometric analysis using cross-sectional survey data. Place and Duration of Study: South East Nigeria, survey conducted within May 2021 to October, 2021.

Methodology: Primary data were collected for 270 respondents from loan beneficiaries through structured questionnaires. Descriptive statistics and multiple regression analysis were employed to identify determinants of savings.

Results: The study found that savings were significantly influenced by age(P<0.01), educational attainment (P<0.05), household size (P<0.05), farm income (P<0.01), interest on deposits (P<0.05), and distance to the bank (P<0.05). Education, farm income, and interest on deposits positively influenced savings, while age and household size negatively influenced it. Constraints included high interest rates, limited bank access, and high household expenditures.

Conclusion: Strengthening farmers’ savings culture requires policy measures aimed at expanding rural banking networks, improving financial literacy, and creating attractive savings products to mobilize funds effectively.

The Role of Dividend Policy in Profitability Moderation and Return on Stock Price Valuation in the Indonesian Financial Sector

Istutik — 2025-10-23

This study aims to analyze the influence of profitability and stock returns on stock price valuation with dividend policy as a moderation variable. Profitability indicators are measured through the ratio of earnings to assets, stock returns are measured from the annual rate of return, stock price valuations are measured using the Price to Book Value (PBV) ratio, while dividend policies are proxied through the Dividend Payout Ratio (DPR). This study uses a descriptive quantitative approach with purposive sampling techniques, involving 48 observations from financial sector companies for the 2021–2024 period. Data analysis was carried out using SPSS 26 through t-test and moderation analysis. The results of the study show that profitability and stock returns do not have a significant effect on stock price valuation, while dividend policy has a significant negative effect. In addition, dividend policy does not moderate the effect of profitability on stock price valuation but is almost significant in moderating the relationship between stock return and stock price valuation. Theoretically, these findings broaden the understanding of the role of dividend policy as a factor that can influence the market's assessment of companies, particularly in the context of signal theory and valuation theory. Practically, these results provide insight for management and investors to consider dividend policy as a market signal in investment decision-making. In terms of originality, this study integrates dividend policy variables as a moderator in the relationship between financial performance and stock valuation in the financial sector in Indonesia. The limitations of this study lie in the relatively small sample size and focus on only one industry sector. Further research is recommended to expand the cross-sector sample as well as use a data panel approach to obtain more general results.

Policies and Employee Performance: Evidence from Kenya Universities and Colleges Central Placement Service

Obadia Kipsang Yego — 2025-10-24

This study examined the influence of welfare policies on employee performance within the Kenya Universities and Colleges Central Placement Service. Guided by Maslow’s hierarchy of needs, the research explored how health insurance coverage, retirement planning support, and educational assistance programs affect employee engagement, customer satisfaction, timeliness, efficiency, and quality of work. A descriptive design was employed, targeting all 69 Kenya Universities and Colleges Central Placement Service employees through a census approach, with a high response rate of 88.7%. Data were collected using semi-structured questionnaires and analyzed using descriptive and inferential statistics in SPSS version 25. Findings revealed that welfare policies significantly enhance employee performance by improving professional growth, motivation, recognition, and stress management. This was supported by a mean of 3.833 and standard deviation of 0.491. Respondents particularly emphasized the value of training opportunities, career development, recognition programs, and financial incentives in motivating performance. The study concludes that welfare policies are not mere administrative functions but strategic tools that drive productivity, job satisfaction, and organizational efficiency. For the scientific community, this study makes an important contribution by empirically demonstrating the strategic role of welfare policies in enhancing employee performance within a public institution. Further, the study provides a theoretical and practical lens for understanding how welfare provisions such as health insurance, training, recognition and financial incentives directly influence employee motivation, engagement and efficiency.

Moderating Effect of Firm Size on the Relationship between Leverage and Deferred Tax Assets: Evidence from Sub-Saharan African Manufacturing Firms

Ibrahim Luka Tumba — 2025-10-24

This study examines the moderating effect of firm size on the relationship between leverage and deferred tax assets among listed manufacturing firms in Sub-Saharan Africa. Drawing on Positive Accounting Theory, Agency Theory, and the Resource-Based View, the study investigates how financial structure and organisational characteristics jointly influence deferred taxation under the International Financial Reporting Standards (IFRS). The research adopts an ex post facto design using panel data from 186 manufacturing firms across fourteen Sub-Saharan African countries between 2012 and 2022. Deferred tax assets, leverage, and firm size were measured relative to total assets, while profitability, asset tangibility, external auditor type, and board size were included as control variables. A Tobit regression model was employed to address the censored nature of deferred tax data. The results reveal that leverage and firm size both have significant positive effects on deferred tax assets, and that firm size moderates this relationship, amplifying the influence of leverage on deferred tax recognition. The findings highlight that larger firms possess superior resources and reporting capabilities that enhance deferred tax management, whereas smaller firms often lack such capacity. The study contributes to literature by providing empirical evidence from an under-researched region and underscores the need for stronger IFRS enforcement and capacity building across emerging African markets. Despite these contributions, the study is limited to manufacturing firms, which may not fully capture the dynamics of deferred taxation in other sectors with different capital structures and tax environments. Moreover, variations in disclosure practices across countries may have constrained the comparability and precision of firm-level deferred tax data.

Correlation Methodologies Revisited: From Classical Statistics to Contemporary Residual Diagnostics

Sathyanarayana S — 2025-10-24

The main purpose of this research paper is to explore the varied approaches provided to researchers for the examination of correlation coefficients in a range of types of data and research contexts. Through the use of desk research, this essay rigorously delves into both parametric and non-parametric correlation methods covering oldies such as Pearson’s r, Spearman’s ρ, and Kendall’s τ, to more niche measures like Point-Biserial, Phi coefficient, Cramér’s V, Polychoric, and Polyserial correlations. For econometrics and time-series applications, the essay covers residual diagnostics for correlation in time series and econometrics such as Durbin-Watson statistic, Breusch-Godfrey test, Ljung-Box Q test, Runs test, ACF/PACF plots, and ARCH tests. The study also guides on selection, interpretation, and limitations of every method, stressing the importance of data type, distribution, and sample structure in correlation analysis. Practical “dos and don’ts” are then provided to help in preventing misuse and enhance the validity of inferences for both primary and secondary data research. A visual flowchart helps with selecting methods. This review adds methodological clarity and rigor to social science, behavioural, and econometric research.

Perception on the Effect of Taxes on the Growth of Micro and Small Enterprises in Selected Entities: A Case of Iringa Municipality, Tanzania

Lightness Bernard Mariki — 2025-10-24

This study investigates the impact of tax policies on the growth of Micro and Small Enterprises (MSEs) in Iringa Municipality, Tanzania. MSEs are critical for economic development, yet they face significant challenges, particularly regarding taxation. Despite existing literature on the effects of tax policies on SMEs globally, there is a notable gap in research focusing specifically on the Tanzanian context, especially on how local tax policies, such as income tax, VAT, and business license fees, affect the performance and growth of MSEs in Iringa Municipality. The main objective of this study is to assess the perceived effects of tax policies on the growth of MSEs, with specific objective To assess the perceived effect of tax policies on the growth of micro and small enterprises in Iringa Municipality. Employing a mixed-methods approach, the study combines quantitative data from structured questionnaires administered to 100 MSE owners selected through a stratified random sampling technique with qualitative insights gathered from interviews and focus group discussions. Findings indicate that while some tax policies may enhance profitability, the overall tax burden including high income tax rates, VAT, and business license fees significantly increases operational costs and constrains revenue growth, leading many businesses to operate informally. Specifically, 70% of respondents reported that high tax rates increase operational costs, 65% stated that VAT reduces profit margins, and 60% indicated that tax compliance procedures discourage business expansion. The study concludes that current tax policies often hinder the growth of MSEs rather than facilitate it, highlighting the need for reforms. Recommendations include simplifying tax laws and procedures, reducing tax rates, and introducing tax holidays for new enterprises. Such measures aim to create a more favorable environment for small businesses, ultimately promoting economic development in the region.

Factors Influencing the Level of Sustainability Report Disclosure: A Case of Construction Companies Listed on Indonesia Stock Exchange

Jauhar An Nahya — 2025-10-28

Aims: This study was conducted to examine the factors influencing sustainability report disclosure. The independent variables were profitability, intellectual capital, leverage, company activities, company size, audit committee, and board of directors. The dependent variable, sustainability report disclosure, was measured based on environmental, social, and economic topics using the Global Reporting Initiative (GRI) standards.

Methodology: This study was quantitative, using a purposive sampling method based on predetermined criteria. The sample used in this study was 14 construction companies listed on the Indonesia Stock Exchange. Data was collected over a four-year period, from 2021 to 2024, resulting in a total of 56 data points to be processed.

Results: The goodness of fit test (F test) showed that all independent variables influenced sustainability report disclosure. However, a t-test indicated that intellectual capital and leverage significantly influenced sustainability report disclosure. Meanwhile, profitability, company size, company activities, audit committee, and board of directors did not significantly influence sustainability report disclosure. The findings of this study emphasize that external factors or other variables that were not tested have a more dominant role in encouraging sustainability report disclosure, such as pressure from the community, company reputation, or encouragement from top management.

ESG Score and Financial Performance in Indonesian Energy Companies: The Moderating Role of Digital Transformation

Muqniatul Husniyah — 2025-10-28

This study examines the influence of ESG Score on the financial performance of Indonesian energy companies, with Digital Transformation as a moderating variable. Theoretically, the study is grounded in Stakeholder Theory and the Resource-Based View (RBV), emphasizing ESG as a strategic element for long-term value creation. Using a causal quantitative design and secondary data, the final sample consists of 8 energy firms (24 firm-year observations) listed on the Indonesia Stock Exchange during 2021–2023. Regression analysis with classical assumption tests was applied. The findings show that ESG Score does not significantly affect Return on Assets (ROA), and Digital Transformation, measured by a dummy proxy, does not strengthen this relationship. While results are statistically insignificant, they highlight that ESG implementation in Indonesian remains compliance-driven rather than value-oriented, and that digitalization in the energy sector is still at an early stage without measurable financial outcomes. These insights contribute to the ongoing debate on ESG in emerging markets and stress the need for policy frameworks, stronger regulatory enforcement, and more strategic integration of ESG and digitalization in corporate governance. The study is exploratory in nature due to its limited sample and short observation period. The contribution of this research lies in providing empirical evidence from an emerging market context, showing that ESG in Indonesia remains compliance-driven, and highlighting the role of digital transformation as an early-stage, efficiency-focused practice. This study enriches ESG literature in developing countries and offers implications for policymakers, investors, and corporate managers in designing sustainability strategies.

Extending the Theory of Planned Behavior in Explaining Malaysian Tourists’ Revisit Intention to Temajuk Beach

Udin Saryono — 2025-10-28

Aims: This study aims to examine the factors influencing Malaysian tourists’ revisit intention to Temajuk Beach by extending the Theory of Planned Behavior (TPB) with additional variables destination image, satisfaction, and local food affinity to provide a more comprehensive understanding of behavioral intention in border tourism contexts.

Study Design: A quantitative research design was employed to test the relationships among cognitive, social, and affective variables affecting revisit intention using the extended TPB framework.

Place and Duration of Study: The research was conducted at the Tourism Office and Temajuk Beach area, Paloh District, Sambas Regency, West Kalimantan, Indonesia, over an eight-month period following the reopening of the Malaysia–Indonesia border in August 2022.

Methodology: A total of 200 Malaysian tourists were selected through purposive sampling. Data were collected via structured questionnaires and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Reliability and validity were confirmed with Cronbach’s Alpha > 0.7 and AVE > 0.5. Hypothesis testing examined both direct and mediating relationships among attitude, subjective norm, perceived behavioral control, destination image, satisfaction, local food affinity, and revisit intention.

Results: The findings show that attitude (p=0.007), subjective norm (p=0.032), perceived behavioral control (p=0.014), and destination image (p=0.002) significantly influence revisit intention. Satisfaction had no significant effect (p=0.087), while local food affinity strongly mediated the relationship between destination image and revisit intention (p=0.002). Destination image emerged as the most dominant predictor of revisit intention.

Conclusion: The study concludes that emotional and sensory experiences particularly through destination image and local food affinity play a more critical role in encouraging tourist loyalty than satisfaction alone, offering valuable insights for sustainable tourism development and marketing.

Factors Shaping the Adoption of LPG for Cooking in Urban Tanzania: Evidence from Geita Municipal

Salumu Athumani Ally — 2025-10-29

The global shift towards sustainable energy systems positions the adoption of Liquefied Petroleum Gas (LPG) as a critical objective. However, a significant disparity exists between these international efforts and the persistent dominance of traditional biomass fuels, such as firewood and charcoal, in Tanzanian households. This study examines the socio-economic determinants of LPG adoption for cooking in urban Tanzania, focusing on Kalangalala Ward, Geita Municipal Council. Grounded in the framework of UN Sustainable Development Goal 7, the research seeks to identify pathways to affordable and clean energy access. Employing a mixed-methods approach, data were collected from 87 respondent’s households, food vendors, and key informants through structured interviews, questionnaires, and observation using a checklist. A logistic regression analysis identified several factors with a statistically significant positive influence on LPG adoption (p < 0.05): higher household income, greater awareness of LPG benefits, advanced education levels, positive attitudes towards LPG, and the availability of suppliers. Conversely, major adoption barriers included the high initial cost, ongoing refill expenses, safety concerns, and cultural preferences for traditional fuels. Notably, proximity to a refilling station (within 1 km for all respondents) was not a significant factor (p > 0.05). The study concludes that while awareness of LPG's benefits is high, financial barriers are the primary constraint. It is recommended that policymakers and stakeholders develop strategies to lower the upfront and recurrent costs of LPG to foster its consistent use and support a sustainable energy transition in the region.

E-Banking Trends in India's Retail Banking: Impact of Demonetization on Consumer Behavior

Jahangir Ansari — 2025-10-29

Demonetization, announced in India on November 8, 2016, marked a turning point for the country’s financial ecosystem, significantly influencing consumer behavior in retail banking. This paper examines the evolving E-Banking trends in India's retail banking sector, emphasizing the impact of demonetization on consumer adoption of digital financial services. The withdrawal of high-denomination currency notes disrupted cash-dependent transactions, compelling consumers and businesses to pivot towards electronic banking channels, including internet banking, mobile banking apps, and Unified Payments Interface (UPI) platforms.

The study highlights key shifts in consumer preferences, such as the increased reliance on cashless payment systems, enhanced use of mobile wallets, and greater acceptance of online banking solutions for routine financial transactions. It also delves into the demographic variations in adoption, with urban users leading the digital transition and rural consumers progressively embracing E-Banking due to government-led initiatives and financial literacy campaigns.

Using secondary data from government reports, industry surveys, and banking publications, the study highlights key shifts in consumer preferences, including increased use of cashless payments and mobile wallets. It also explores demographic differences, with urban consumers leading adoption while rural users gradually embrace digital banking through government initiatives and financial literacy campaigns.

Additionally, the paper explores the challenges faced by consumers during this transition, including cybersecurity concerns, digital literacy gaps, and infrastructure limitations. It evaluates how these barriers were addressed through technological innovations, regulatory support, and the expansion of E-Banking services.

The findings reveal that demonetization acted as a catalyst for the digital transformation of retail banking in India, fostering a shift in consumer behavior towards a more technology-driven and cashless economy. This transformation has laid a robust foundation for the future growth of E-Banking services.

Gender Gap in Digital Financial Services: In Search of Financial Inclusivity in Indian Sundarban

Anindya Basu — 2025-10-30

India is on the progressive path of development and its rural population is an integral part of the growth trajectory. As India gears up for an era of increased digitalization, the issue of digital banking, specifically in rural areas is the need of the hour for financial inclusion and social empowerment. The present research scrutinizes the extent of female population, under the ‘Digital India’ initiative in the banking-based financial sector in the selected study area i.e. Indian Sundarban and explores the aspects behind the resultant low female clientele.

The study area involves six community blocks of the Indian part of the Sundarban: Hingalganj, Sandeshkhali II, Mathurapur II, Sagar, Gosaba and Canning II covering districts of North and South Twenty-Four Parganas. The study was carried out from September, 2023 to October, 2024, involving stages from pilot survey to detailed door-to-door household surveys and data processing, analysis thereafter.

The factors influencing the female customer satisfaction regarding digital banking is identified through Principal Component Analysis and issues regarding implementation of usage of Digital Financial Services (DFS) by women is evaluated through SWOC analysis. The study is based on mixed-method approach, involving a stratified sampling, taking a sample of 2400 customers (1030 female respondents) along with 36 bank officials 100 women of Self-Help Group and 36 small entrepreneurs for the study from different pockets of Indian Sundarban,

The study revealed low digital literacy levels in general and psychological phobia among women in particular put a setback. The banks are to level up their operations in the rural areas exposing the locals more to digital avenues leading to capacity building.

Policy and strategy implementation are the need of the hour for reducing gap between the idea and the experienced reality that is between the digital banking facility and the people’s involvement, especially women, in digital banking.

Effects of an E-Procurement System on the Performance of Public Procurement in Local Government Authorities in Tanzania: A Case of Mbeya City Council

Ismail Amiri Kangungu — 2025-10-31

The increasing adoption of e-procurement systems by local governments underscores the need to understand its impact on public procurement performance, particularly in enhancing transparency and accountability. While existing studies highlight the positive effects of e-procurement transparency on procurement performance, they primarily focus on specific urban councils, limiting the generalizability of findings to broader contexts. Additionally, literature often overlooks user perceptions and contextual challenges faced during implementation. This study aims to assess the Effects of E-Procurement System on the Performance of Public Procurement in Local Government Authorities in Tanzania: A Case of Mbeya City Council, Tanzania. The specific objectives is to assess the effect of e-procurement system transparency on the performance of public procurement in local government authorities in Mbeya City Council. A mixed-methods approach was employed, combining quantitative surveys with qualitative interviews. Data were collected from 154 respondents, including procurement officers, managers, and suppliers, using structured questionnaires and in-depth interviews. Triangulated findings from both quantitative and qualitative analyses revealed that e-procurement transparency significantly enhances procurement performance. Key aspects identified include improved access to procurement information, effective real-time tracking, and open communication channels, all of which contribute to increased supplier participation and reduced corruption. Respondents also reported enhanced trust and accountability in procurement processes. The study concluded that transparency in e-procurement systems is crucial for fostering fair and efficient public procurement practices. The need for continuous investment in training and infrastructure to maximize the benefits of e-procurement is emphasized. Local government authorities should enhance training programs for stakeholders, improve technical support and infrastructure, and enforce regulatory frameworks to ensure effective e-procurement implementation, thereby promoting transparency and accountability in public procurement.

Financial Integration with Emerging Markets: An American Perspective

Dhouha Hadidane Chkio — 2025-10-31

In this study, we examine the patterns and causes of stock market integration of twelve emerging markets against the US market, for the period January 2005 to January 2020. We compare patterns of market integration for countries on a monthly basis using the time-varying correlation technique, namely, GARCH-dynamic conditional correlations (DCCs). In doing so, we suggest that opportunities in cross border investment vary by frequencies. We also divide daily data into subsamples and find that correlations were strongest during the global financial crisis (GFC) of 2007–09. The time varying bilateral correlations are found to be highly volatile. We also investigate the causes of identified correlations and find that the underlying economic and financial conditions (exchange rate volatility, interest rate spread, trade openness and capitalization market) have also been responsible for the higher correlations between these stock markets.

From Reputation to Value: The Strategic Role of CSR in Enhancing Firm Performance in Indonesia

Yuniarti — 2025-11-01

Aims: This study investigates whether corporate social responsibility (CSR) mediates the effect of firm reputation on firm value in publicly listed companies in Indonesia.

Study Design: This study adopts a quantitative descriptive approach employing a panel data regression design to analyze the effect of firm reputation on firm value and to examine the mediating role of Corporate Social Responsibility (CSR) activities. Statistical analyses were conducted using secondary data derived from publicly available reports. This methodological approach was chosen to ensure a rigorous examination of causal relationships across firms and over time, enhancing both internal validity and generalizability. The sample was selected using a purposive sampling technique based on specific criteria: (1) companies that consistently published annual and sustainability reports (CSR disclosures) during the observation period; (2) firms providing complete data for the variables of firm reputation. Firm reputation is proxied by brand image (awards and recognition) and Big-4 auditor affiliation, while firm value is measured using Economic Value Added (EVA). CSR is measured using a CSR disclosure score, which represents an index calculated as the ratio between the number of items disclosed by the company and the total number of items required to be disclosed. Control variables include Return on Assets (ROA) and firm size. Applying these criteria resulted in a final sample of 51 companies, yielding 306 firm-year observations included in the empirical analysis.

Place and Duration of Study: This study examines companies listed on the Indonesia Stock Exchange (IDX) over a six year period, spanning from 2017 to 2022.

Methodology: This study employed a panel data regression approach using observations from 51 firms over six years. The analysis began with descriptive statistics to capture the general characteristics of all variables. Model selection was then conducted through the Chow, Hausman, and Lagrange Multiplier (LM) tests to determine the most suitable estimation model. Afterward, hypothesis testing was performed to evaluate the relationships among variables, followed by a Sobel test to examine the mediating role of Corporate Social Responsibility (CSR) in linking firm reputation and firm value.

Results: Empirical findings indicate that corporate reputation has a positive and significant influence on firm value (EVA). Furthermore, corporate reputation exhibits a significant influence on the level of Corporate Social Responsibility (CSR) disclosure, while CSR itself significantly increases firm value. Mediation analysis using the Sobel test confirms that CSR acts as a statistically significant mediator in the relationship between corporate reputation and firm value. These findings suggest that CSR serves as a strategic translation mechanism through which reputation assets are converted into economic value, underscoring the important role of CSR in linking intangible reputation factors to tangible financial performance among public companies in Indonesia.

Conclusion: Corporate reputation has a significant positive effect on corporate value, both directly and indirectly through disclosure of Corporate Social Responsibility (CSR) activities. Corporate reputation, reflected in external awards and auditor affiliations, contributes to increased transparency and credibility of CSR, ultimately increasing the company's economic value. CSR is not only a moral or legal obligation, but also a strategic tool to actualize the power of reputation into financial added value. The implications of this study emphasize the strategic importance of reputation management through the implementation of high-quality audit mechanisms and the company's active involvement in sustainable business practices. And capital market authorities are encouraged to improve the quality of supervision related to corporate reporting and to promote greater transparency through comprehensive information disclosure.

Macroeconomic Policy Trade-offs: Fuel Price Dynamics and Industrial Production Growth in India

Shivam Agarwal — 2025-11-01

This research investigates the complex interplay between fuel inflation, industrial production growth, and overall inflation in India, given the economy's high dependence on fuel imports. Using monthly time-series data from April 2012 to December 2023 for Crude Oil Price (COP) inflation, Index for Industrial Production (IIP) growth, and Consumer Price Index (CPI) inflation, the study applies Autoregressive Distributed Lag (ARDL) modelling and Granger Causality testing to analyse these relationships. The findings reveal a significant trade-off between crude oil prices and industrial production. ARDL results show long-run co-integration among the variables, with COP positively impacting IIP but having an insignificant relation with CPI. Conversely, IIP negatively impacts CPI. The Granger Causality test confirms a bidirectional causal relationship between COP and IIP. These results highlight a difficult trade-off for policymakers, suggesting that diplomatic efforts to minimise global fuel price volatility are crucial for managing domestic economic stability.

Human Resource Practices, Employee Commitment and Performance in Kenya

Ekonit John Komol — 2025-11-04

The purpose of this paper was to investigate the mediating role of employee commitment on the relationship between human resource practices and employee performance in Turkana County. This study adopted explanatory survey design. The study used a sample of 362 employees. This study used stratified random sampling to select respondents across the various departments in the County government. Findings indicated that employee: recruitment, remuneration, work-life balance and employee training positively and significantly influence employee performance. In addition, the regression results showed that employee commitment positively and significantly mediated the relationship between employee recruitment and employee performance, employee training and employee performance, employee remuneration and employee performance, work life balance and employee performance among employee in Turkana County government. The study recommends that the Turkana County government should make financial investments in staff training and development programs in order to improve performance. Moreover, it is essential to put in place a solid performance management system in order to define and communicate clearly, what is expected of employees in terms of performance, as well as to provide consistent feedback and conduct performance reviews. Additionally, Turkana County government may develop remuneration systems that are both fair and competitive, as well as programs that provide appropriate rewards and recognition

Risk Management, Corporate Scandals and Reforms: Case Study Approach

Md. Anwarul Kabir — 2025-11-06

Problem: In today’s unstable global business environment, the significance of risk management has increased due to corporate failures and crises, raising concerns among investors and regulators. Now, effective risk management is essential for long-term sustainability and success. Despite its critical role, many organizations still show noticeable gaps in their risk management practices.

Purpose: To examine the role and effectiveness of risk management subcommittees in enhancing corporate governance, specifically focusing on insights gained from corporate scandals and subsequent reforms.

Data and Methodology: This study employs a qualitative research methodology and analyzes secondary data from various sources. The study uses purposive sampling to analyze major scandals. It aims to uncover the systemic causes of corporate failures and the challenges companies face in recovering from crises, despite their management efforts. Additionally, it examines successful recovery cases and focuses on governance and risk management in enhancing corporate resilience.

Results: Research on corporate scandals shows that risk management is often poorly aligned with corporate strategy and inadequately assessed from an enterprise perspective. This issue stems from the absence of independent risk management committees and limited oversight by audit committees. Many boards and management teams were unaware of their company's risks and engaged in unethical profit-boosting practices. Further, Current corporate governance standards fail to mandate separate risk management committees.

Research Implications: The study examines various scandals across different companies and emphasizes the significance of the Risk Management Subcommittee in corporate governance. It suggests that regulators and standard setters should view this subcommittee as a crucial element in corporate governance and risk management, as it helps mitigate corporate failures, improve governance, and prevent future scandals. Furthermore, the study emphasizes that establishing risk management subcommittees is essential for effectively implementing corporate governance practices and ensuring the long-term resilience of organizations.

Effect of Air Pollution Control Investments on Financial Performance of Small Scale Agricultural Firms in Nigeria

Sunday, David — 2025-11-06

The study examined the effect of air pollution control investments on financial performance of small scale agricultural firms in Nigeria. The specific objective was to ascertain the extent to which investment in air pollution control equipment and investment in air pollution control practices affect profit return on selected agriculture firms in Nigeria. Survey research design was adopted in the study. The population comprised owners/managers of 8,687,966 small-scale agricultural enterprises in Nigeria from which a sample size of 400 was selected. The study collected primary data from the respondents using structured questionnaire. The research questions were analysed using mean and frequency distribution. The hypotheses were tested using multiple regression analysis. The findings are: investment in air pollution control equipment has a significant and positive effect on the profit return of selected small scale agricultural firms in Nigeria (b = 0.560; p-value = 0.000); investment in air pollution control practices has a significant and positive effect on the profit return of selected small scale agricultural firms in Nigeria (b = 0.423; p-value = 0.000). In conclusion, integrating pollution control into operational strategies is not merely a compliance measure but a viable contributor to firm profitability. The study recommends that managers of small-scale agricultural firm should allocate a dedicated portion of the firms’ annual capital expenditure toward the acquisition and maintenance of air pollution control equipment such as emission capture systems, exhaust treatment units, or air filtration devices.

Effect of Technological Readiness in Detection and Prevention of Fraud among Registered Commercial Banks in Kenya

Doris Bundotich — 2025-11-06

Purpose: This paper empirically investigates the effect of technology readiness, specifically technological optimism, technological innovativeness, technological discomfort, and technological insecurity on fraud detection and prevention (FDP) among registered commercial banks in Kenya.

Design/Methodology/Approach: The study adopted both the explanatory and cross‑sectional research design. Data was collected using a sample of 400 structured questionnaires that were administered to staff across various departments of the selected banks. The hypotheses were tested using the results of multiple regression analysis.

Research Findings: The regression results demonstrated that technological innovativeness and technological optimism positive and statistically significant effect on FDP. In contrast, technological discomfort and technological insecurity had a significant and negative effect on FDP. These results confirmed that readiness enablers (optimism, innovativeness) improve fraud‑management outcomes, whereas readiness inhibitors (discomfort, insecurity) erode its.

Practical Implications: The study contributes to the fraud‑risk and digital‑operations literature in emerging banking markets and offers actionable guidance for bank executives, risk managers, and regulators. Managers should institutionalize innovative practices and cultivate optimism through clear performance narratives, feedback loops, and transparent model‑risk governance. Concurrently, banks should mitigate discomfort and insecurity via user‑centric design, role‑specific training and certifications, embedded decision support, and peer‑champion programs. Supervisory bodies and industry associations may leverage these insights to craft capability‑building initiatives and incentives that align human readiness with technology investments, thereby strengthening sector‑wide fraud detection and prevention.

Environmental Disclosures and Share Prices of Listed Consumer Goods Firms in Nigeria

Sunday, David — 2025-11-06

The study examined the effect of environmental factors disclosure on share prices of listed consumer goods in Nigeria. Specifically, the study determined the extent to which pollution control disclosure and environmental remediation disclosure affect the share prices of listed consumer goods firms in Nigeria. Ex-post facto research design was deployed in the study. A sample size of 16 firms was selected from the population of 21 listed consumer goods firms in Nigeria. Secondary data for the study were sourced from the annual reports of the firms from 2015 to 2024. Descriptive analysis was carried out while panel least square regression was used to test the hypotheses, which found that; Pollution Control Disclosure has a negative but non-significant effect on the share prices of listed consumer goods firms in Nigeria [β = -144.657, p = 0.0566]; Environmental Remediation Disclosure has a significant positive effect on the share prices of listed consumer goods firms in Nigeria [β = 13.645, p = 0.1635]. In conclusion, while environmental remediation disclosures, recognizing their potential benefits for corporate reputation and long-term profitability, the negative but non-significant effect of pollution control disclosure suggests that the market may perceive its associated costs or regulatory burdens as potential constraints on firm value. The study recommends that investors should consider environmental remediation efforts as a factor in investment decisions, as firms that actively engage in environmental restoration tend to gain legitimacy and market trust.

Entrepreneurial Agility as a Moderator Between E-Business Model Innovation and Competitive Advantage: Evidence from the Hypermarket Industry in Port-Harcourt, Nigeria

Osarosee, Ekhator Osagie — 2025-11-07

This research examine entrepreneurial agility as a moderator between e-business model innovation and competitive advantage: Evidence from the hypermarket industry in port-Harcourt, using a cross-sectional survey. Five hundred and sixty-four (564) workers were taken from 25 hypermarket stores in Port-Harcourt, Rivers State, Nigeria. This study adopted the questionnaire method for data collection. Structural equation modelling was adopted for hypothesis analysis. Prior to this, validity and reliability were evaluated using the outer model evaluation in order to verify that the collected data met the fitness criteria. The blue ocean theory and generic strategies theory were used to support the study variables. The study result revealed that entrepreneurial agility moderates the relationship between e-business model innovation and competitive advantage. The research concludes that e-business model innovation, if properly designed and deployed for the firm's performance enhancement, would likely lead to sustainable competitive advantage of hypermarket businesses in Port-Harcourt. A main implication of this study is that Hypermarket owners and practitioners in Port-Harcourt must go beyond adopting digital tools to integrating entrepreneurial agility in their strategic and operational framework to avoid stagnancy and being less competitive in an intensely competitive hypermarket industry. The uniqueness and originality of this research springs from the fact that no research has predicted competitive advantage through e-business model innovation in the hypermarket industry. However, Future investigations should adopt other moderating variables and longitudinal surveys to pinpoint loopholes in the present research.