Asian Journal of Economics, Business and Accounting

Green Marketing and Consumer Purchasing Behavior: A Systematic Literature Review through the Lens of Behavioral Economics

Delia Francesca L. Estropia — 2025-11-26

In today’s world, where environmental awareness and sustainable consumption are becoming global priorities, green marketing plays a vital role in influencing consumer behavior and business strategies. This paper discusses the relationship between green marketing and consumer purchasing behavior using a behavioral economics lens. A systematic literature review was used and followed the PRISMA guidelines in processing peer-reviewed studies published between 2015 and 2025, resulting in a review of 144 studies across 41 countries. Relevant studies were gathered from Google Scholar and Mendeley databases. Results established that altruism, trust, knowledge and socially constructed norms have a stronger impact on the green purchasing decision than price and convenience. Nudge Theory has proven sufficient by recognizing the role of labeling of the environment, default options, and open communication convention to develop sustainable decisions. Generally, eco-branding, eco-packaging, and eco-labeling increase consumer loyalty and reduce the attitude-behavioral gap, indicating that the behavioral information may support the maintenance of sustainable consumption behavior and increase competitiveness of firms. Overall, the findings emphasize that understanding behavioral motivations through green marketing can contribute to achieving sustainable consumer practices and environmental protection worldwide.

FinTech and Institutional Disruption: A Systematic Literature Review on Innovations and Transformation in Finance

Mesud Mohammed — 2025-11-28

The purpose of this systematic literature review is to explore how financial technology innovations are transforming and disrupting the traditional financial industry and remodeling the global finance ecology. Applying the PRISMA 2020 model, we systematically reviewed 24 empirically based and peer-reviewed articles released between 2015 and the year 2025 from Scopus and Google Scholar databases. Findings shows how FinTech advances such as artificial intelligence, blockchain, machine learning and digital payments are reshaping financial transactions by improving efficiency, inclusion and transparency. Yet such technological transformations also bring new challenges, such as cybersecurity risks, data privacy issues and systemic risks. The findings underscore the role, that macroeconomic stability, financial access and technological readiness play in developing FinTech; while overregulation, infrastructural gaps and institutional weaknesses constrain scalability and innovation. Additionally, regulatory regimes that are more adaptable, pro-innovation and innovation friendly like sandboxes and innovation hubs are shown to balance financial innovation with systemic stability. The research suggests that FinTech-led change can only be sustained through joint efforts between regulators, financial institutions and technology providers. Digital and financial literacy, advanced cyber security measures, as well as trust in the consumer are all key to inclusive and resilient digital finance. The review highlights that sustainable growth of FinTech relies on synchronizing technological development with regulatory flexibility and institutional capability. Future studies might investigate how regulatory flexibility, digital literacy and organizational collaboration collectively affect technology adoption.

Storytelling Marketing and Cross-Cultural Branding of Fuliang Tea: A Systematic Review and Global Evidence Synthesis

Huang Qiuyang — 2025-11-28

Aims: This study has conducted a systematic literature review (SLR) to evaluate the effectiveness of brand storytelling in the cross-cultural e-commerce context of Fuliang tea. It synthesizes global empirical evidence on storytelling marketing within the tea industry and introduces the Storytelling–Culture–Performance (SCP) analytical framework to assess how narratives operate across cultural boundaries.

Methods: Following the PRISMA protocol, six major databases (Web of Science, Scopus, CNKI, ProQuest, EBSCO, and Google Scholar) have been searched for studies published between 2010 and 2024. Sixty-three empirical studies have been included and analyzed through content analysis and meta-ethnographic synthesis.

Results: The findings have shown a marked increase in storytelling-related publications in tea marketing, particularly after 2020. On average, storytelling has had a strong positive effect on brand attitude and purchase intention and a moderate influence on actual purchase behavior. Cultural analysis has revealed that high-context cultures (e.g., China, Japan, Korea) favor heritage-oriented narratives, while low-context cultures (e.g., the U.S., U.K., Germany) respond better to sustainability-driven storytelling. Evidence suggests that integrating emotional resonance, credible endorsement, and cultural adaptation can significantly enhance brand equity.

Conclusion: Storytelling marketing has proven effective in cross-cultural e-commerce contexts but remains shaped by cultural norms and values. The SCP framework offers a theoretical and practical tool for evaluating narrative performance across markets. For Fuliang tea and similar heritage brands, culturally adaptive storytelling—rooted in authenticity and ethical communication—can strengthen global competitiveness and consumer trust.

Building Superior Performance through Employee Agility and Engagement: The Mediating Role of Organizational Citizenship Behavior

Nur Laily — 2025-11-20

Aims: This study examines the influence of employee agility and employee engagement on employee performance, with organizational citizenship behavior (OCB) as a mediating variable. Addressing the inconsistent findings in prior studies, this research integrates three complementary perspectives—Job Demands–Resources (JD-R) Theory, Dynamic Capability View (DCV), and Social Exchange Theory (SET)—to develop a multidimensional model of employee behavior and performance.

Study Design: This is a quantitative study using a random sample. Primary data was obtained through questionnaires.

Place and Duration of Study: The population was employees in the private sector in Surabaya. The sample size was 216 respondents. The survey was conducted between January and May 2025.

Methodology: The research method used a quantitative approach. Sampling was conducted using non-probability sampling and purposive sampling techniques. Data analysis was performed using SEM-PLS.

Results: Results reveal that employee agility and engagement significantly and positively affect performance, both directly and indirectly through OCB. The mediation of OCB demonstrates that agile and engaged employees tend to reciprocate organizational support through extra-role behaviors, thereby improving overall performance.

Practical Implications: These insights provide meaningful implications for both scholars and practitioners seeking to strengthen employee adaptability, engagement, and sustainable performance in the digital era.

Conclusion: This study enriches the theoretical discourse by integrating JD-R, DCV, and SET into a single explanatory model. The results confirm that OCB acts not only as a behavioral outcome but also as a strategic mechanism linking employee capabilities and organizational performance.

Impact of Mergers and Amalgamations on the Efficiency of Regional Rural Banks: A Case Study of Jharkhand Rajya Gramin Bank

WAQUAR AHMAD — 2025-11-17

This research examines how mergers and consolidations affect the efficiency and financial performance of Regional Rural Banks (RRBs) in India, with a particular emphasis on the Jharkhand Rajya Gramin Bank (JRGB). RRBs were established in 1975 to fill the gap in formal financial services in rural regions, aiming to counteract the exploitative practices of moneylenders and promote financial inclusion. However, their initial fragmentation and operational inefficiencies raised concerns about their sustainability, leading the Government of India to initiate a phased amalgamation strategy starting in 2005. JRGB was created on April 1, 2019, through the merger of Jharkhand Gramin Bank and Vananchal Gramin Bank, functioning as a unified RRB across all 24 districts of Jharkhand. This study employs a descriptive and analytical methodology, utilizing secondary data from RBI, NABARD, and JRGB’s annual financial statements for the years 2014–15 to 2022–23. It analyzes key performance indicators such as the Credit-Deposit Ratio, Net Profit, Net Non-Performing Assets (NPA) ratio, Business per Employee, and Branch Network for both pre-merger (2014–15 to 2018–19) and post-merger (2019–20 to 2023–24) periods. The results indicate a significant positive impact of the merger on JRGB’s operational and financial performance. There were notable improvements in the Credit-Deposit Ratio, Net Profit and Business per Employee, along with a significant decrease in the Net NPA ratio. Although the Branch Network experienced only slight growth suggesting a strategy of consolidation rather than expansion, the overall findings confirm enhanced profitability, productivity, credit delivery efficiency, and asset quality. This supports the policy goal of creating a more robust, efficient, and inclusive rural banking system through mergers, thereby aiding regional economic development and financial inclusion in Jharkhand.

The Power of Finance in a Warming World: A Bibliometric Analysis of Climate Finance and Its Role in Shaping a Sustainable Future (2015-2024)

Babu P. Mathew — 2025-11-20

Climate finance has become a key enabler of global climate action, playing a pivotal role in mitigating greenhouse gas (GHG) emissions and enhancing resilience to climate impacts. Despite its growing importance, the field of climate finance remains complex and fragmented, with limited efforts to systematically map its intellectual structure and evolution. This study conducts a comprehensive bibliometric analysis of climate finance research from 2015 to 2024, analysing a total of 921 articles from the Scopus database. The study examines publication trends, influential authors and institutions, collaborative networks, and thematic evolution using performance analysis, science mapping, and network analysis. The findings reveal significant growth in climate finance research, driven by key milestones, including the Paris Agreement. Dominant research themes include the role of public and private finance, innovative financial instruments, and barriers to scaling up investments. Emerging topics such as blended finance, climate risk integration, and alignment with the Sustainable Development Goals (SDGs) are also identified. The study highlights the contributions of climate finance research to shaping a sustainable future while underscoring gaps in equity, transparency, and policy impact. By providing a holistic understanding of the field, this analysis offers valuable insights for researchers, policymakers, and practitioners seeking to advance climate finance and achieve global sustainability goals.

Environmental Performance Index and Economic Development: Evidence from Panel Data Analysis in India’s EAG States

Karuna Shanker Kanaujiya — 2025-11-22

This study analyzes the link between economic development (NSDP) and environmental degradation (EPI) in India’s eight Empowered Action Group (EAG) states, testing the Environmental Kuznets Curve (EKC) hypothesis. The EKC posits that environmental degradation first worsens with economic growth before improving. Using panel data, our model includes NSDP and its squared term (NSDP²) to test for this non-linear relationship. We employed Pooled Ordinary Least Squares (OLS), Fixed Effects (FE), and Random Effects (RE) estimation techniques. A rigorous set of model selection tests (Breusch-Pagan LM, F-test, and Hausman) decisively identified the Random Effects (RE) model as the most statistically appropriate and efficient specification, as it properly accounts for state-specific heterogeneity. Our primary finding, based on the preferred RE model, is that no statistically significant relationship exists between NSDP and the EPI. This result, also supported by the FE model, indicates that the EKC hypothesis is not supported for the EAG states. Although a simpler Pooled OLS estimation does show a significant inverted U-shaped curve, we demonstrate this finding is spurious. It is an artifact of model misspecification that fails to control for the significant differences between states. We conclude that economic growth alone does not guarantee environmental improvement. This highlights the critical need for direct, state-specific policy interventions to achieve sustainability.

Exploring the Impact of Omnichannel Experience and Integration Quality on Customer Satisfaction: The Mediating Role of Perceived Value

Azzahra Lulu Alifiyah — 2025-11-24

Aims: This study aims to examine the effects of omnichannel customer experience and integration quality on customer satisfaction, with perceived value as a mediating variable, within the café service context in a developing economy. The research is conceptually grounded in customer value and satisfaction theories, emphasizing how integrated service experiences shape perceived value and satisfaction in omnichannel settings.

Study Design: A quantitative cross-sectional study using a causal relationship approach.

Place and Duration of Study: Data were collected from café customers in Indonesia between January and March 2025.

Methodology: A total of 210 respondents participated through purposive sampling. Data were analyzed using Partial Least Squares–Structural Equation Modeling (PLS-SEM) with SmartPLS 4 to test measurement and structural models. Constructs included customer experience, integration quality, perceived value, and customer satisfaction.

Results: The findings reveal that customer experience and integration quality have a positive and significant effect on perceived value and customer satisfaction. Moreover, perceived value significantly mediates the relationship between integration quality and customer satisfaction, indicating that seamless omnichannel integration enhances perceived value and leads to higher satisfaction.

Conclusion: The study concludes that successful omnichannel implementation in café services depends on consistent integration quality and positive customer experiences that enhance perceived value. These results provide managerial insights for service providers to design coherent and enjoyable cross-channel experiences that increase customer satisfaction and loyalty.

Quality Education, Skill Development and Entrepreneurship in Jammu and Kashmir

Anchal Kumar — 2025-11-24

The study examines the interrelationship between entrepreneurship, skill development and quality education in the socio-economic context of Jammu and Kashmir- a region endowed with natural beauty yet challenged by political instability, unemployment and infrastructural limitations. The research emphasizes that Jammu and Kashmir having over 54 percent of its population below 25 years of age, possesses immense human resource potential. But only 2 percent skill workforce highlights the urgency for targeted interventions in education and vocational training.

Through a mixed methods approach combining literature review, surveys, interviews and case studies, the study explores how quality education lays the foundation for skill enhancement and how skill development, in turn strengthens employability and fosters entrepreneurship.

Government initiatives such as Sher-e-Kashmir Employment and welfare program, Himayat, Udaan are assessed for their roles in bridging skill gaps and promoting youth empowerment. Furthermore, the national education policy (NEP)2020 is analyzed for its transformative potential in advancing inclusive, technology-integrated and regionally relevant education in Jammu and Kashmir. The findings reveal that despite notable efforts, mismatches between education, skills, and employment opportunities persist, constraining economic growth. The research concludes that the synergistic integration of education, skills and entrepreneurship can transform Jammu and Kashmir’s socioeconomic landscape-empowering youth, reducing unemployment and fostering sustainable development.

How does Farmer’s Preference for Seed Attributes and Support Service from Grain Traders Influence the Adoption of Improved Varieties in Tanzania?

Hemed A. Kihimba — 2025-11-24

This study examined the joint association of grain traders’ support services and seed attribute preferences on the adoption of improved sorghum, beans, and groundnut seed varieties in Tanzania. While previous studies have typically examined farmers’ seed preferences or institutional support separately, little is known about how market-based trader support services interact with seed attribute preferences to influence farmers’ adoption. The study employed a cross-sectional research design and involved 961 farmers selected through a multistage random sampling approach from major production districts of beans, sorghum and groundnuts. 315 bean, 317 sorghum, and 329 groundnut farmers from 12 districts (4 districts per crop) in Tanzania. Data collection was conducted using a household survey via Survey CTO, and data analysis was analyzed using descriptive and inferential statistical methods. Results show that credit on improved seed such as sorghum and groundnuts significantly enhances adoption when paired with key traits such as high yield, grain price, grain size, drought tolerance, and pest-disease resistance. Market-based supports like market guarantee and market linkage also demonstrate strong joint effects with traits like attractive price, grain color, and maturity time, particularly in common beans and groundnuts. These findings underscore the importance of aligning traders’ support services with farmers’ preferred seed traits to enhance adoption of improved varieties. Strengthening grain trader-farmer partnerships and embedding credit access, market linkages, and price assurance within seed delivery systems would help accelerate technology uptake and improve smallholder productivity.

CSR and Women’s Empowerment in Odisha, India: A Case Study of Business and Social Equity Initiatives

Soumya Subham Mallick — 2025-11-25

Corporate Social Responsibility (CSR) is a term, which has attracted the attention of academics institutions and industries very recently. In India, especially Tata has been implementing CSR activities since 1912. It is the beginning of the 19th century transformed this concept of philanthropy and encouraged the industrialists to empower communities through different capacity building program towards women development and thereby making the community as its stakeholder. The business strategies varies from company to companies, where it is observed that few companies give importance to health care, educational initiatives, environment sustainability, livelihood generation etc. The intervention of micro finance has brought in tremendous changes in the life of woman at the grass root level. The self-help groups (SHGs) are the instrumental in empowering rural women with affordable banking, insurance and entrepreneurial approaches.

Keeping this as backdrop, the present study focuses on CSR and women‘s socio-economic empowerment through livelihood generation in Indian Metals and Ferro Alloys Ltd (IMFA) located in Tangi, Cuttack. The study is carried by both primary and secondary sources of data collection. The secondary sources have been utilized by the reported information of the companies in their annual sustainability reports. For the primary data collection, the study utilizes descriptive and exploratory research design with a sample size of 60 women respondents from six different villages to capture the diverse experience and perspective. Interview schedule is used as a tool for data collection and purposive sampling technique is used to fulfil the objectives of the study. The present study attempts to depict the objective to examine the CSR initiatives of SHG and livelihood generation of the rural women under the CSR of IMFA in Cuttack.

The major findings shows CSR of IMFA carry out their CSR programs through these SHG groups where they get women folks in collectives. Not only do these corporate indulge in training programs but also give the women, placement assistance and handholding support to start off with their own entrepreneurial ventures, ensure banking and market linkages. The lives of women therefore changed for the better. This present research therefore endeavors to unfurl the aforementioned dimensions of women empowerment. The study would change the very outlook of the thinking of the future researchers for more deliberations and thoughtful contemplation in the similar path.

Low-carbon City Pilot and Urban Green Innovation: From the Perspective of Ecological Attention

Xiangyi Li — 2025-11-26

In response to global climate challenges and the pursuit of sustainable development, low-carbon city pilots (LCCP) have become a critical instrument for China to achieve its carbon peaking and neutrality goals. This study empirically investigates the impact of the LCCP policy on urban green innovation and its underlying mechanisms from the novel perspective of ecological attention. Utilizing a multi-period difference-in-differences (DID) model and panel data from 283 prefecture-level cities in China from 2007 to 2017, we find robust evidence that the LCCP policy significantly promotes green innovation, measured by green patent applications per 10,000 residents. The results withstand a series of robustness checks, including parallel trends validation, alternative explanatory variable specifications, sample period adjustments, and exclusion of major municipalities. Furthermore, heterogeneity analyses reveal that the policy effects are more pronounced in eastern coastal cities, areas with higher financial development, and cities with lower resource dependence. Mechanism analysis reveals that ecological attention serves as a crucial transmission channel. Specifically, the policy elevates both governmental ecological attention, measured by the frequency of environmental keywords in the work reports, and public ecological attention, captured by the Baidu search index. Notably, public ecological attention demonstrates a stronger driving effect on green innovation compared to its governmental counterpart, suggesting that bottom-up engagement plays a vital role in fostering green technological advances. This research provides theoretical and empirical support for evaluating city-level environmental policies and offers valuable insights for policymakers. We propose expanding the coverage of low-carbon pilot programs, tailoring policy design to account for regional heterogeneity, and strengthening policy enforcement to enhance public participation. These findings underscore the importance of integrating ecological attention into environmental governance frameworks to accelerate the transition toward greener and more resilient urban development.

Adhocracy Culture and Organizational Adaptability: Insights into Strategic Plan Implementation in Kenya’s Insurance Sector

Mung’athia Samson — 2025-11-26

This study explores the impact of organizational culture on execution of strategic plans within the Kenyan insurance industry, with a strong emphasis on adhocracy culture, a culture type under Competing Values Framework (CVF). Adhocracy culture underpins innovation, flexibility, and adaptability; traits necessary for firms operating in highly evolving and dynamic environments. While much of the existing body of knowledge acknowledges the impact of organizational culture on strategic plan implementation, rarely has any empirical study tested this correlation in an African context, especially in a dynamic and highly regulated environment such as the Kenyan Insurance sector. Employing a descriptive survey design, data was collected from 30 insurance firms and analyzed through inferential and regression methods. The findings reveal that adhocracy culture is a statistically significant forecaster of strategic plan implementation ( ). These results underpin the importance of adaptive and innovation-driven organizational environments in converting strategic plans into actionable outcomes, particularly in rapidly-evolving and highly-dynamic markets where traditional and highly structured approaches are insufficient. The research progresses the knowledge in the areas of corporate culture and organizational strategy by offering empirical evidence from a highly-regulated and dynamic industry in an understudied developing economy. The research emphasizes the idea that adaptive organizational cultures underpinned by innovation are essential for effective strategic plan implementation. The research offers practical lessons for leaders and policymakers tasked with implementation of strategic plans. It supposes that vibrant cultural characteristics largely enhance strategy execution in highly-evolving business set-ups. The study recommends that organizations entrench innovation processes, encourage cross-functional collaboration, and set up flexible decision-making models to enhance effective strategic plan implementation.

Investigating Corporate Governance and Firms Performance Nexus in Nigeria: Evidence from Panel ARDL and GMM

Chinwe Ada Olelewe — 2025-11-29

This study investigates corporate governance and firm performance nexus of 30 selected firms Listed on the Nigerian stock exchange (NSE) – 15 blue-chip firms and 15 penny firms using panel dynamic autoregressive distributed lag (ARDL) model and differenced and system generalized method of moment (GMM). Data ranging from 1990 to 2020 extracted from annual financial fact sheets of the sampled firms. In this study, corporate governance measures include board size (BSZ), board governance and remuneration committee (BGRC), number of meetings held (NMH), number of shareholders committee (NSHC), number of remuneration committee (NRMC), and number of audit committee (NAC); while firms performance measures include return on assets (ROA) and return on equity (ROE). The study also controlled for the influence of shareholders fund (SHF) and gross earning (GRE). Findings from the Pedroni cointegration test shows that there are cointegration between corporate governance and firms’ performance which was confirmed by Kao cointegration test as robustness check. Evidence from the results of panel dynamic ARDL models of MG, DFE and PMG shows that there is existence of long-run relationships between corporate governance and firms’ performance in Nigeria. Also, the results of the error correction model shows that speeds of adjustments from the short-run to the long-run exist in various degrees for MG, DFE and PMG for models 1 and 2. Findings from GMM models confirmed the existence of long-run relationships between corporate governance and firms’ performance in Nigeria. However, policies such as enhancement of the corporate governance and institutional qualities in Nigeria were recommended.