Asian Journal of Economics, Business and Accounting

Digital Transformation and Resilience in MSMEs: A Systematic Literature Review of Barriers, Capabilities, and Policy Supports (2015–2025)

Prerna Pandey — 2026-01-05

Digital transformation has become a critical pathway for enhancing the resilience of micro, small, and medium enterprises (MSMEs), particularly in contexts marked by technological disruption and systemic shocks. This systematic literature review examines how digital transformation has shaped MSME resilience between 2015 and 2025, with specific attention to the roles of barriers, organisational capabilities, and policy supports. Guided by the PRISMA 2020 framework, the study synthesises evidence from 58 peer-reviewed journal articles and authoritative policy reports drawn from India and comparable emerging and advanced economies.

The review traces a clear evolution in the literature from early emphasis on structural constraints such as finance, infrastructure, and digital skills, to subsequent focus on Industry 4.0 readiness, fintech adoption, and organisational capability development, and more recently to resilience-oriented perspectives encompassing artificial intelligence, digital platforms, and sustainability. To integrate these shifts, the study introduces a Thematic–Chronological Fusion Matrix, which maps changing research priorities across three distinct phases (2015–2018, 2019–2021, and 2022–2025), and proposes the MSME Resilience Cube, a conceptual framework positioning resilience as an outcome of the interaction between barriers, capabilities, and policy supports.

The findings highlight that digital technologies alone are insufficient to strengthen MSME resilience; rather, resilience emerges through the alignment of internal capabilities with enabling institutional and policy environments. At the same time, the review identifies persistent gaps in measurement, causal identification, and policy implementation, particularly in relation to smaller firms and resource-constrained contexts. By reframing MSME digital transformation as a cumulative, capability-driven process rather than a crisis-induced response, this study offers a structured synthesis and sets out a focused agenda for future research and policy design.

Effect of Financial Technology on Financial Inclusion in Ethiopia: A Systematic Review

Dilgasa Bedada Gonfa — 2026-01-14

This systematic review examines the impact of financial technology innovations on financial inclusion in Ethiopia, using the Technology Acceptance Model and Diffusion of Innovation theory. It analyzes the role of digital financial services, such as internet banking, ATMs, and point-of-sale systems, in addressing Ethiopia’s historically low participation in the formal financial sector. Covering empirical, analytical, and policy literature from 2005 to 2025, the review finds that while DFS have expanded access and reduced transaction costs, adoption is still limited by challenges like low financial literacy, inadequate digital infrastructure, gender disparities, and regulatory uncertainty. Key factors influencing financial inclusion include financial innovation, poverty levels, financial sector stability, economic conditions, financial literacy, and regulatory frameworks, which often vary due to issues like poor system maintenance. The paper concludes that sustainable financial inclusion in Ethiopia requires investments in connectivity, consumer protection, and pro-poor financial products, offering targeted policy recommendations for the National Bank of Ethiopia and commercial banks to foster a transition from cash-based to digitally inclusive finance. It also highlights areas for future research, addressing ongoing challenges in achieving broad financial inclusion.

Cash Flow Management for Women Microentrepreneurs: A Case Study of Instant Herbal Medicine MSMEs in Batu City

Novi Puji Lestari — 2026-01-14

Aims: This study was conducted to determine the meaning of cash flow management for female micro entrepreneurs. This study used a qualitative approach with a case study method. The study was conducted to determine how female micro entrepreneurs manage cash flow and explore the meaning contained there.

Study Design: The research subjects were female instant herbal medicine MSME entrepreneurs who had been running their businesses for at least two years and were directly involved in business financial management.

Place and Duration of Study: Place for the research in Batu City. Duration of research at 6 month.

Methodology: The methods used were interviews, participatory observation, and documentation. Data analysis was carried out through data reduction, which involved selecting, focusing, and simplifying the data, presenting the data in tables, matrices, and narratives, and finally verifying the results or drawing conclusions. To ensure data validity, the study employed several strategies, including source triangulation, member checking, and persistent observation. The study was conducted in 2025 over a period of 3 months.

Results: Cash flow management experience is shaped by values of independence, family responsibility, and economic adaptation. Most informants do not have a background in financial education, but learn through practice and experience. Cultural actors also influence how they interpret money. Cash flow management is not only for survival, but also for maintaining family harmony and business prosperity.

Conclusion: Based on the results of a phenomenological analysis of the experiences of three female informants who are instant herbal medicine microentrepreneurs in Batu City, it can be concluded that cash flow management has a meaning that goes beyond mere financial activities, but rather reflects a balance between economic, social, and spiritual functions in the lives of women entrepreneurs.

Agile and Lean Frameworks for Enhancing Accountability and Efficiency in Public Financial Management Systems in Emerging Economies

Mercy Amuna — 2026-01-03

Aim: The study evaluates what Agile and Lean governance strategies can do in public financial systems in emerging economies to improve fiscal accountability, service delivery and budgeting efficiency.

Methodology: A systematic literature review methodology with PRISMA guidelines emphasis on empirical studies and reports, from databases including Scopus, World Bank, and OECD were used.

Findings: This review reveals that Agile and Lean frameworks dramatically improve public financial management by improving fiscal accountability, budgeting efficiency, and service delivery. Drawing on 49 studies published between 2010 and 2025, the majority from emerging economies with selected comparative OECD cases, budgeting and procurement reforms emerged as the dominant sectors analysed. Agile’s iterative and adaptive approach allows governments to make real-time adjustments to budgets, enhancing the economy’s response to economic developments and crises. They focus on reducing waste and financial planning to ensure that public funds are allocated efficiently and effectively. Similarly, Rwanda and Nigeria demonstrate the benefits of using these frameworks. Agile enabled rapid budget adjustments in Rwanda to improve fiscal responsiveness, while Nigeria used Lean principles to streamline procurement and improve resource allocation across local governments. But, the interconnection of these frameworks faces challenges, including institutional resistance, lack of skilled personnel and political constraints, which hinder full adoption in public financial systems. But these barriers highlight the potential for Agile and Lean to create more responsive, transparent, and efficient public financial management systems in developing economies.

Conclusion and Recommendations: Agile and Lean processes would through transparency and efficiency enhance fiscal accountability and service delivery significantly. Governments, by learning from successful implementations, need to prioritise capacity-building and institutional reform that solves adoption barriers to successful implementation in PFM systems.

The Influence Mechanism of Global E-commerce on India’s Electronic Product Export Trade: Strategy, Policy and Competitive Advantage

Satakshi Dwivedi — 2026-01-13

Aims: To evaluate the influence mechanism of Global E-commerce (GEC) on India’s electronic product export trade and identify strategic policy recommendations to achieve the national target of USD 1 trillion in merchandise exports by 2030.

Study Design: This study employs a qualitative policy analysis and a foundational review of national trade and manufacturing performance.

Methodology: Grounded in a digital trade policy framework, the paper utilizes a foundational review of manufacturing metrics and export statistics from the Directorate General of Foreign Trade (DGFT). It analyzes the influence mechanism of government initiatives like the Production Linked Incentive (PLI) and India Semiconductor Mission (ISM) while comparing the efficiency of traditional trade channels against GEC frameworks.

Results: Total electronics production in India surged from ₹1.9 lakh crore in 2014–15 to ₹11.3 lakh crore in 2024–25. In the first quarter of FY 2025–26, India's export performance took a massive leap, growing by 47% to reach USD 12.41 billion. This surge was primarily driven by a 55% year-on-year explosion in smartphone shipments. On the domestic front, the transformation has been equally dramatic: we’ve moved from having just two mobile manufacturing units in 2014 to over 300 units by 2025.

Conclusion: Global E-commerce (GEC) acts as a powerful engine for India's export trade. Ultimately, this study contributes to digital trade theory and global value chain analysis by providing a scalable export policy model for emerging economies striving for high-tech industrial upgrading.

Accelerating Laboratory Construction: Risk-Based Project Planning, Modular Prefabrication, and a Commissioning-First Delivery Framework

Stephen Okyere Boansi — 2026-01-13

The construction of laboratories is increasingly constrained by the need to deliver safe, compliant facilities rapidly, while also meeting decarbonisation and performance expectations. This scoping review maps peer-reviewed evidence on the acceleration of laboratories and laboratory analogue facilities through risk-based planning, modular prefabrication, and a commissioning-first delivery framework. Using the PCC framework and PRISMA-ScR reporting guidelines, searches of the Scopus and Web of Science databases (2015–2025) produced 461 records, of which 19 empirical studies met the inclusion criteria. The findings coalesced into three pillars of acceleration: (1) digital risk controls (e.g. interface governance, tolerance-aware coordination, and scan-enabled verification), which replace late discovery with early, testable gates; (2) treating modular prefabrication as a production-logistics system that requires early scope selection, interface freezing, and factory quality checks; and (3) commissioning-first readiness, where progress is defined by test outcomes, activation simulations, and operational stabilisation. Across the evidence base, speed gains were primarily achieved by preventing late rework rather than compressing tasks. This review did not involve protocol registration or risk-of-bias appraisal, but safeguards were in place, including PCC eligibility, dual screening, and standardised charting. Practical implications emphasise the risk-tiering of systems, 'progress-to-test' milestones, and the alignment of work packages to commissioning sequences. However, time-to-ready outcomes were reported inconsistently, which limited cross-case comparability. Future research should evaluate frameworks across laboratory typologies and regulatory settings and standardise acceleration metrics.

Fundamentals of Leadership: A Report on Power, Influence and Best Practices for Effective Leadership

Hasan Ahmad — 2026-01-14

Effective Leadership is an important factor in organizational productivity, performance and requires both strategic decision-making, influence, and interpersonal skills. This is a report on the basics of leadership that discusses dynamic power, leadership styles, communication, motivation and emotional intelligence. This is an evaluation of the utilisation of power and influence as a leader in the evaluation of their efficiency in working with teams. Most significantly, situational leadership model has been reviewed, and its flexibility in various organizational settings has been brought to the fore. I have discussed the best practices of leadership communication, and the emphasis has been put on how the challenges of leading virtual teams can be overcome. Also, the Hierarchy of needs by Maslow as a motivational model was examined and the importance of emotional intelligence in leadership is mentioned in connection to decision-making, conflict management, and involvement of the team. The report finds that adaptability, emotional intelligence and communication should be balanced in leadership and that one leadership style cannot be applied in all circumstances. The best leaders instead are those who are able to modify their strategies to align with the changing needs of their organizations and teams.

Moderating Effect of Firm Size on the Relationship between Financial Metrics and Share Price of Listed Agriculture and Consumer Goods Firms in Nigeria

EDOKPA, Solomon Ighodalo — 2026-01-02

In view of scholars-established link between firm size and share price and the suggested dual causality nexus between firm size and financial performance, the study examined the moderating effect of firm size on the relationship between financial metrics and share prices of listed agriculture and consumer goods firms in Nigeria. It controlled for the pervasive macroeconomic variables of inflation, interest rate and exchange rate. Using purposive sampling technique, a sample of 20 out of the 26 firms of study was obtained. Secondary data were sourced from annual published financial statements of the firms, while the macroeconomic data were obtained from the National Bureau of Statistics and the Central Bank of Nigeria. Generalized least squares regression analysis was performed with the aid of STATA 17. The outcome indicated that return on equity, earnings per share, and firm size, each has a significant positive effect on share prices of listed agriculture and consumer goods firms in Nigeria while current ratio, debt-equity ratio, and total assets turnover each has a non-significant effect on the share prices. Furthermore, firm size has a significant moderating effect on the relationship between financial metrics (proxied by current ratio, and earnings per share) and share prices of listed agriculture and consumer goods firms in Nigeria. In the same vein, firm size has a non-significant moderating effect on the relationship between financial metrics (proxied by current ratio, debt-equity ratio, and total assets turnover) and share prices of listed agriculture and consumer goods firms in Nigeria. Therefore, it was recommended that Security and Exchange Commission should prioritize the appropriate disclosure of the identified key metrics in the financial statements. Furthermore, investors should consider the moderating effect of firm size on the financial metrics to better understand how different metrics impact share prices for firms of varying sizes and adjust their investment strategy accordingly.

Does Cost of Debt Condition the Debt–Value Nexus? Quantile Regression Evidence from Nigerian Manufacturing Firms

Chika Ugwuodo Celestine — 2026-01-03

This paper investigates how the composition of corporate debt relates to shareholders’ wealth across the distribution of firm valuation in a high cost borrowing environment. Using a balanced panel of 43 listed Nigerian manufacturing firms from 2013 to 2023, we compare pooled Ordinary Least Squares with year effects to quantile regressions at the 25th, 50th and 75th quantiles of shareholders’ wealth. Shareholders’ wealth is proxied by market capitalisation; the key regressors are short-term and long-term interest-bearing debt ratios, with the cost of debt as a conditioning variable and profitability and firm size as controls. Interaction terms between cost of debt and debt structure are constructed from mean-centred regressors. The results show that short-term debt is positively associated with shareholders’ wealth throughout the distribution, while long-term debt is negatively associated. The cost of debt is adverse on average and most pronounced around the median quantile. Interaction terms are not statistically significant across quantiles, which suggests that, conditional on observables, the cross-quantile differences are driven largely by the level effects of debt structure and borrowing costs rather than by moderation. The findings highlight distributional heterogeneity in the debt–value nexus that is not captured by mean regressions alone and have implications for tenor policy, treasury management, investor screening and credit-market design in emerging economies.

Road Infrastructure and Economic Growth of UMP Zvataida Rural District: The Nexus of Engineering Workmanship and Rural Development in Zimbabwe

Gerald Munyoro — 2026-01-05

This study examined how engineering workmanship in road construction under Zimbabwe’s Emergency Road Rehabilitation Programme (ERRP) and related emergency preparedness initiatives influences economic development in rural districts. It argues that high-quality workmanship in road works is a critical driver of economic growth, improved market access, reduced transport costs, increased investment, and employment creation particularly in underserved rural areas such as Uzumba Maramba Pfungwe (UMP) Zvataida Rural District of Mashonaland East Province. The study adopts a qualitative research approach, drawing on policy documents, project reports, stakeholder interviews, and field observations to gain in-depth insights into both the technical and socio-economic dimensions of road infrastructure development. Thus, the sample was selected using a purposive sampling technique and comprised participants from Zimbabwe’s Emergency Road Rehabilitation Programme in UMP Rural District including policymakers, government agencies, distribution companies, and consumers resulting in a sample size of 50 respondents. Data were collected through semi-structured interviews with government officials, local contractors, community leaders, and ERRP beneficiaries, as well as through on-site evaluations of selected road projects. Thematic analysis was used to interpret qualitative data, enabling the identification of recurring patterns related to workmanship quality, contractor performance, supervision mechanisms, funding timelines, and local capacity constraints. Findings indicate that the ERRP has resulted in improved road accessibility in over 70% of the assessed project sites, contributing to reduced travel times and enhanced linkage to local markets. However, participants reported persistent challenges in workmanship quality, with approximately 60% of respondents citing inadequate supervision and weak quality assurance procedures as major constraints. Field observations also revealed inconsistencies in drainage design, gravel compaction, and edge protection across several completed segments. Furthermore, nearly half of the interviewed stakeholders, that is 48% highlighted delays in funding disbursements as a key cause of compromised technical standards and reduced contractor performance. Consequently, the study concludes by stating that although ERRP interventions have delivered measurable improvements in road conditions within UMP, their long-term economic impact is hindered by workmanship deficiencies and limited institutional oversight. Thus, strengthening contractor capacity, enforcing rigorous supervision frameworks, and improving inter-agency coordination are essential in sustaining infrastructure gains and at the same time maximising rural economic development outcomes. Therefore, the study recommends targeted training for local contractors, enhanced monitoring systems, and better-aligned funding mechanisms to ensure durable and economically transformative road construction in rural districts.

Brand Storytelling and Content Marketing on Social Media

Samaneh SAFFARIMANESH — 2026-01-05

Influencer marketing has become a central component of brand communication on social media, yet the mechanisms through which influencer credibility translates into consumer behavioral intentions remain insufficiently specified. While prior research has established credibility as a key driver of persuasion, less attention has been paid to the psychological processes that explain how credibility is converted into intention formation in narrative-driven digital environments. Drawing on source credibility theory and narrative persuasion perspectives, this study examines whether brand storytelling engagement functions as a mediating mechanism linking influencer credibility to behavioral intentions in a naturalistic social media context. A quantitative, cross-sectional survey design was employed, targeting active social media users who follow influencers. The proposed hypotheses were tested using regression-based mediation analysis. The findings indicate that influencer credibility is positively associated with behavioral intentions and that this relationship is partially mediated by brand storytelling engagement. Specifically, credible influencers appear to enhance followers’ willingness to engage cognitively and emotionally with brand narratives, which in turn strengthens intention formation, while credibility also retains a direct influence on intentions beyond narrative engagement.

This study contributes to influencer marketing and brand storytelling research by offering a process-oriented explanation of how influencer credibility operates in social media persuasion. By identifying brand storytelling engagement as a key mediating mechanism, the findings highlight the importance of pairing credible influencers with narrative-driven content to effectively shape consumer intentions in digital environments.

Deregulation and Oil Industry in Zimbabwe: Challenges, Opportunities and Policy Implications

Gerald Munyoro — 2026-01-06

Zimbabwe’s oil industry continues to face long-standing, deep rooted and multifaceted challenges despite the adoption of a deregulation policy in 2003. Persistent foreign currency shortages, regulatory volatility, weak infrastructure, high supply chain costs, and inadequate investment have collectively undermined the efficiency and reliability of the petroleum sector. To interrogate these issues, this study employed a mixed-methods research design that integrated quantitative data from official reports, published statistics, and supply chain performance indices with qualitative insights from semi-structured interviews with policymakers, regulators, distributors, retailers, and consumers (n = 50). Purposive sampling ensured representation across key stakeholder groups, while NVivo 12 Plus facilitated systematic coding and thematic analysis. Document analysis, including statutory instruments and regulatory reports, provided additional contextual depth and triangulation. Findings indicate that foreign currency shortages account for approximately 60–70% of procurement delays, while transport and compliance costs have risen by an estimated 25% over the past five years. Whilst, supply chain performance indices further show an average distribution efficiency of only 52%, well below regional benchmarks. In short, foreign currency constraints remain the primary bottleneck to fuel procurement, while policy inconsistencies, rising compliance costs, infrastructural deficits, and logistical inefficiencies continue to elevate operational costs. Nevertheless, emerging initiatives in regulatory reform, infrastructure development, and alternative energy integration show positive potential. The study concludes that Zimbabwe’s petroleum sector challenges are predominantly structural and policy-driven rather than technical. Recommendations include stabilising currency policy, strengthening regulatory coherence, investing in supply chain modernisation, expanding storage and distribution infrastructure, and promoting local content and import substitution through alternatives such as biofuels, solar, wind, and hydrogen. Collectively, these measures can improve resilience, enhance competitiveness, and ensure long-term sustainability of Zimbabwe’s oil industry.

ESG Disclosure and Value of Listed Industrial Goods Firms in Nigeria: The Moderating Effect of Board Gender Diversity

Moses Babatunde Olanisebe — 2026-01-06

In recent times, rising pressure from stakeholders, greater regulatory oversight, and increased investor interest in sustainable business practices have amplified the significance of Environmental, Social, and Governance (ESG) disclosure as a means to boost firm value. Despite the increasing focus, empirical findings on the impact of ESG disclosure on enhancing firm value are inconsistent, especially in emerging markets like Nigeria, where corporate governance frameworks and sustainability reporting practices are still developing. Moreover, limited attention has been paid to the role of board attributes, especially board gender diversity in strengthening the value relevance of ESG disclosures. Against this backdrop, this study examined the moderating effect of board gender diversity on the relationship between ESG disclosure and the value of listed industrial goods firms in Nigeria. The population of the study consists of thirteen (13) listed industrial goods firms on the Nigerian Exchange (NGX) group as at 31^st December, 2024. The study employed a non-survey research design, using a sample size of eleven (11) firms from a total population of thirteen (13) listed industrial goods firms on the NGX group, with data extracted from the annual reports and accounts of the sampled companies for a period of twelve years (2013–2024). Data was analysed using descriptive statistics to provide a summary for the variables, and correlation analysis was carried out using the Pearson correlation technique. The study found that environmental and social disclosure influence value positively, while and governance disclosure has insignificant effect on the value of sampled firms. Also, BGD has a positive and significant impact on firm value. Furthermore, BGD moderates the relationship between ESG disclosure and the value of the sampled firm. On the moderating effect of board gender diversity on the relationship between ESG and firm value, it was found that R² increased from 29% to 41%. This suggests that the model now explains 14% more of the variability in the data due to the introduction of a moderator, which is the board gender diversity. Hence, board gender diversity moderates the relationship between ESG disclosure and firm value positively; it changed the direction of the relationship from negative to positive in the case of social disclosure. Consequently, the study recommends that the management of the sampled listed industrial goods firms in Nigeria should promote and sustain greater board gender diversity by ensuring adequate representation of women on corporate boards, as this enhances transparency, accountability, and overall firm value. Female directors often bring unique perspectives, ethical sensitivity, and stakeholder-oriented approaches that strengthen the quality of ESG disclosures and improve corporate reputation.

The Role of Entrepreneurship in Synchronising Production, Business, and Operational Issues in the Zimbabwe Prison & Correctional Service (ZPCS)

Gerald Munyoro — 2026-01-06

Despite growing scholarly and policy interest in prison-based production and rehabilitation initiatives in developing economies, empirical evidence remains limited on how entrepreneurship functions as a coordinating mechanism across production, business, and operational systems within correctional institutions. Existing studies largely focus on isolated outcomes such as agricultural productivity or inmate skills acquisition, while overlooking systemic misalignments, weak value-chain integration, and deficiencies in institutional coordination. Therefore, this study examines how entrepreneurship can play a central role in synchronising production, business, and operational functions within the Zimbabwe Prisons and Correctional Service (ZPCS). Anchored on the Resource-Based View (RBV), an operations management theory, and the entrepreneurial ecosystem model, the research investigates how institutional entrepreneurship can enhance productivity, self-sufficiency, rehabilitation, and organisational sustainability. Thus, a mixed-method research design was employed, incorporating systematic document analysis alongside observational insights gathered from selected prison farms and vocational training centres. Thus, findings indicate that although ZPCS demonstrates growing entrepreneurial orientation that is through agricultural production, commercial ventures, vocational training, and public–private partnerships regrettably, misalignments persist among the production, business, and operations domains. Key challenges include inadequate mechanisation, regulatory bottlenecks, limited marketing skills, weak value chains, and inconsistent operational coordination. The study therefore, concludes that a deliberate, integrated entrepreneurial strategy can strengthen institutional efficiency, reduce fiscal burdens, and enhance rehabilitation outcomes. Accordingly, policy and managerial recommendations are provided to improve synchronisation and long-term sustainability.

The Effect of Individual Characteristics through Individual Ambidexterity on Lecturer Performance

Mimi Kurnia Nengsih — 2026-01-07

Aims: This study examines the effect of individual characteristics on lecturer performance through individual ambidexterity, with a focus on lecturers at Private Higher Education Institutions under LLDIKTI Region II, Indonesia.

Study Design: Quantitative explanatory research with a cross-sectional survey approach.

Place and Duration of Study: The study was conducted at Private Higher Education Institutions (universities) under LLDIKTI Region II, covering South Sumatra, Lampung, Bengkulu, and Bangka Belitung, with data collected in 2025.

Methodology: Data were collected from 500 non-civil servant lecturers selected using proportionate stratified random sampling. Structural Equation Modeling (SEM) with AMOS was employed to analyze direct and mediating effects among variables.

Results: Individual characteristics have a positive and significant effect on lecturer performance and individual ambidexterity. Individual ambidexterity also positively affects lecturer performance and partially mediates the relationship between individual characteristics and performance.

Conclusion: Strengthening individual characteristics and ambidexterity capabilities is essential to improving lecturer performance and sustaining competitiveness in higher education institutions. Universities need to strengthen the personal aspects of lecturers through self-development programs and encourage ambidexterity by providing facilities such as research centers, learning laboratories, publication funding support, and innovation forums, so that superior individual character can be manifested through effective exploration-exploitation.

Assessing the Impact of Oil Industry Deregulation on Rural Development: Evidence from Mudzi Rural District, Mashonaland East, Zimbabwe

Gerald Munyoro — 2026-01-07

This study evaluates the impact of major policy reforms that deregulated Zimbabwe’s oil industry, with particular emphasis on their implications for rural development in Mudzi Rural District, Mashonaland East Province. The research examines how liberalising the importation, distribution, and retailing of oil products has reshaped market structure, pricing dynamics, competitive behaviour, investment trends, fuel accessibility, and foreign exchange utilisation. Findings indicate that deregulation has the potential to greatly improve fuel access and service provision in underserved rural areas by enhancing market efficiency, increasing competition, and diversifying fuel import sources. Consequently, the reforms have also created new investment opportunities for Zimbabweans, especially in rural markets, including roles in infrastructure development, import substitution, storage, and procurement. Emerging models such as containerised fuel stations demonstrate how deregulation can expand rural fuel availability and stimulate local enterprise development. However, the study highlights ongoing challenges—among them regulatory gaps, illicit fuel trading, and inadequate infrastructure—which undermine the full benefits of deregulation. Therefore, to address these issues, the research recommends that there be targeted support for small-scale fuel operators, strengthened regulatory oversight, enhanced community engagement, and local capacity-building initiatives. Overall, the study concludes that with strategic policy refinement, deregulation can play a pivotal role in advancing Zimbabwe’s broader objectives of energy security, inclusive rural development, and sustainable economic growth.

Assessing the Economic Consequences of Structural Failures in Newly Built National Highways in Kerala, India

Ibrahim Cholakkal — 2026-01-07

Newly built national highways in Kerala were intended to catalyse regional economic development by reducing transport costs, improving market connectivity, and strengthening supply chains. However, recurrent structural failures and rapid asset degradation have substantially weakened these anticipated benefits and generated adverse socio-economic outcomes. This paper reconceptualizes newly constructed highways as Common-Property Resources and appliesOstrom’s polycentric governance framework to examine how institutional fragmentation, inadequate maintenance regimes, and weak accountability mechanisms transform infrastructure investments into economic liabilities. Employing a mixed-methods approach, the study integrates structured household surveys (n = 300), stakeholder interviews, and secondary administrative data. Quantitative analyses—including descriptive statistics, correlation matrices, multivariate regression models, and robustness checks—are complemented by qualitative thematic coding to trace the causal pathways linking highway failures to supply-chain disruptions, income volatility, health and insurance costs, environmental externalities, and disproportionate impacts on vulnerable groups.

Empirical results indicate a statistically significant negative association between age and reported highway disruption (β = −0.058, p = 0.047), which is more plausibly explained by demographic usage patterns and adaptive behaviour—such as reduced mobility intensity among older populations—rather than superior infrastructure performance. In contrast, income level shows no statistically significant relationship with disruption (p = 0.975), suggesting that economic status alone does not predict exposure to highway failures. Although age emerges as a relatively stronger predictor, the adjusted R² value of 0.347 indicates that substantial variation remains unexplained, underscoring the importance of omitted institutional, physical, and environmental determinants, including design quality, maintenance effectiveness, traffic density, and climatic stress.

Overall, the findings demonstrate that while highway infrastructure holds significant growth-enhancing potential, weak governance structures erode its developmental returns. The study advances actionable policy recommendations centered on decentralized monitoring, participatory maintenance mechanisms, strengthened accountability, and sustainable financing models to restore infrastructure performance and socio-economic benefits.

A Contemporary Analytical Study of CAMELS Indicators and Financial Performance Variations among Indian Public Sector Banks

Ashwath R — 2026-01-09

This research presents a comprehensive comparative analysis of five leading Indian Public Sector Banks: SBI, PNB, BOB, IOB, and UB, covering the period from 2019 to 2024. It utilizes the CAMELS framework and employs statistical tools such as ANOVA and Bonferroni post-hoc tests to examine year-wise variations and the significance of various parameters. The findings reveal that Bank of Baroda outperformed its peers, achieving the lowest average CAMELS rank of 2.00, which reflects a strong capital position and effective management. Union Bank followed with a rank of 2.50, driven by the highest Liquidity Ratio of 64.14% and a superior Gap Ratio of 97.76% in terms of sensitivity. SBI was ranked third with an average score of 2.67, while PNB had the lowest average rank of 4.17, indicating concerns regarding asset quality and earnings. Despite the visible performance variations among the banks, ANOVA results indicate no statistically significant differences (p > 0.05) across the years and parameters, suggesting relative stability in the performance of public sector banks. The study concludes that while certain banks have demonstrated financial strength, others need to focus on improving risk sensitivity, asset quality, and earnings. The CAMELS-based evaluation provides critical insights for policymakers, regulators, and stakeholders aiming to enhance the resilience and governance of India’s public banking system.

The Impact of Customer Analytics on Sales Funnel Conversion and Customer Retention in the E-Commerce Industry

Bella Isen — 2026-01-10

The fast development of e-commerce has made competition stiffer and made the necessity of knowing customer behaviour stronger in digital touchpoints. This has led to customer analytics becoming one of the most important capabilities of maximizing sales funnel conversion and customer retention. This review analyses how customer analytics can influence the performance of sales funnel and retention of customers in the e-commerce sector with specific focus on the importance of predictive modelling, machine learning (ML) and artificial intelligence (AI) as well as real-time data analytics.

The study relies on peer-reviewed scientific sources published between 2013 and 2025 and synthesises the evidence on the effectiveness of analytics-driven practices in increasing the convert ratio, including customer segmentation, lead scoring, recommendations, churn prediction, and customer lifetime value (CLV) modelling, in improving efficiency in conversion and long-term loyalty.

The results show that customer analytics can also increase funnel conversion to a large extent because it can personalize at scale, minimize friction between funnel phases, and help guide decisions based on the available data using advanced predictive methods. On the same note, proactive predictive churn, tactical engagement programs, and individualized loyalty programs enhance retention performance. Nevertheless, the review also indicates significant limitations to the current literature, such as a large dependence on short-term case studies, focus on big companies in the developed markets, and the lack of incorporation of the behavioural theory. Data privacy, algorithmic bias, and model transparency are also relevant ethical issues that make the implementation more complex.

In general, the review summarizes that customer analytics has high potential to convert and retain in e-commerce, but the effectiveness of this tool in the long run presupposes longitudinal evidence, adaptation, and responsible and transparent data utilization. The research can be useful in the future as it summarizes the nonspecific body of work and sets the trends of further research regarding the topic of sustainable, customer-centric analytics practices.

Strategic Human Resource Management and Public Sector Performance in Developing Countries: Evidence from County Governments in a Devolved Context in Kenya

Robert K.W. Egessa — 2026-01-10

Application of a strategic approach in managing people in an organization has been touted as acritical component in improving organizational performance. Although the relationship between Strategic Human Resource Management (SHRM) and performance is well established in private sector research, empirical evidence from public sector organizations in developing countries remains limited. This dearth is even more evident since Kenya adopted a devolved system of government in 2010. This study examines the influence of SHRM practices on public sector performance using survey data from County Governments in Western Kenya. This study examines the influence of SHRM practices on public sector performance using survey data from county governments in Western Kenya. Data was analyzed using Multiple Linear Regression Analysis to establish the effects of strategic recruitment and selection, performance management, training and development, and talent retention on performance. Performance was measured using service delivery metrics of organizational effectiveness, accountability and employee motivation. The results show that SHRM practices have a significant positive influence on public sector performance, with performance management and training and development emerging as the strongest predictors. However, the findings also suggest that the effectiveness of SHRM practices is dependent on institutional capacity and leadership commitment. The study extends SHRM–performance research to a devolved public sector context in the Global South and offers practical insights for strengthening county-level performance through strategic HRM.

The Nexus of Digital Infrastructure, Financial Inclusion and Economic Growth in Ghana: A Quantitative Analysis

Divine Komla Vulley — 2026-01-12

Financial inclusion and digital infrastructure are widely recognized as key drivers of economic growth, particularly in developing economies like Ghana. Despite significant advancements in digital infrastructure such as mobile money platform and digital financial services, financial inclusion in Ghana remains uneven, with rural populations and marginalized groups facing limited access to formal financial services. This study examined the relationship between digital infrastructure (MMA), financial inclusion (AMMA), and economic growth (GDP) in Ghana using a Vector Autoregressive (VAR) model, the Vector Error Correction Model (VECM), and Granger causality test with time-series data from 2018 to 2024. Data for the study was obtained from the Bank of Ghana’s (BoG) Database Portal. The results reveal a positive and significant relationship between financial inclusion and economic growth, driven largely by increased mobile money adoption. Similarly, digital infrastructure improvement, particularly the availability of mobile money agents (merchant lines), have contributed to economic growth by improving financial accessibility. The combined impact of financial inclusion and digital infrastructure underscores the importance of a well-integrated financial ecosystem in driving sustainable economic development in the long run. Despite these positive effects, challenges such as financial literacy gaps, digital exclusion in rural areas, and limited access to advanced financial products persist. The study recommends targeted financial literacy programs and expanded digital financial services in underserved areas to maximize the benefits of financial inclusion for Ghana’s long-term economic growth.