This research examines the stock market index determinants and the prediction using the FFT curve fitting of the Jakarta Stock Exchange (JKSE) Composite Index during the COVID-19 pandemic. This paper has used daily data of Jakarta Stock Exchange (JKSE) Composite Index, interest rate, and exchange rate from 15 October 2019 to 15 September 2020, and a total of 224 observations, retrieved from Indonesia Stock Exchange (IDX), Indonesia Statistics Central Bureau and Observation & Research of Taxation. The study covers descriptive statistics, multicollinearity test, hypothesis tests, determination test, and prediction using FFT curve fitting. The results unveil four fresh and robust evidence. Partially, the interest rate has affected positively and significantly the stock market index. Partially, the exchange rate has affected negatively and significantly the stock market index. The F-test result, interest rate, and exchange rate have significantly affected the stock market index (JKSE) simultaneously. Furthermore, the FFT curve fitting has predicted that the stock market fluctuates and increases over time. The results have shown a strong influence of the independent variables and the dependent variable. The value of Adjusted R-Square is 0.719, which means that the independent variables have simultaneously impacted the dependent variable for 71.9%; other factors have influenced the remaining 28.1%.

This paper examines the impact of foreign ownership on stock price volatility in an emerging market, namely, Thailand. The data were obtained from SETSMART, the database of the Stock Exchange of Thailand (SET). After removing financial firms, banks, and insurance companies as well as filtering outliers, the final sample covers 1,755 firm-year observations from 371 nonfinancial firms listed on the SET over the five-year period from 2014 to 2018. The regression model consists of stock price volatility, measured by two methods, as the dependent variable, foreign ownership as the main independent variable, and firm characteristics including firm size, leverage, market-to book ratio, and stock turnover as the control variables. The pooled OLS, fixed effects, and random effects estimations are employed to examine the relationship between foreign ownership and stock price volatility. The results reveal that foreign ownership has a negative and significant impact on stock price volatility. The two-stage least squares (2SLS) are also performed to address potential endogeneity problem. The results still indicate a negative relationship between foreign ownership and stock price volatility. Taken together, the findings of this study suggest that foreign investors help reduce stock price volatility and thus stabilize share price in the Thai stock market.

This study aims to obtain a stock investment strategy model based on the industrial sector in Indonesia Stock Exchange (IDX). This study uses IDX data for the period of January 1996 to December 2016. This study uses the Markov Regime Switching Model to identify trends in market conditions that occur in industrial sectors on IDX. Furthermore, by using the Logit Regression Model, we can see the influence of economic factors in determining trends in market conditions sectorally and the probability of trends in market conditions. This probability can be the basis for determining stock investment decisions in certain sectors. The results showed descriptively that the stocks of the consumer goods industry sector had the highest average return and the lowest standard deviation. The trend in sectoral stock market conditions that occur in IDX can be divided into two conditions, namely bullish condition (high returns and low volatility) and bearish condition (low returns and high volatility). Differences in the conditions are mainly due to differences in volatility. The use of a Logit Regression Model to produce probability of market conditions and to estimate the influence of economic factors in determining stock market conditions produces models that have varying predictive abilities.

The study explores the nexus between foreign direct investment (FDI), financial innovation, and exchange rate volatility in selected South Asian countries for 1980 to 2017. The study applies the unit root test, Autoregressive Distributed Lagged, nonlinear ARDL, and causality test following Toda-Yamamoto. Unit root tests ascertain that variables are integrated in a mixed order; few variables are stationary at a level and few after the first difference. Empirical model estimation with ARDL, Long-run cointegration revealed with the tests of FPSS, WPSS, and tBDM by rejecting the null hypothesis of "no cointegration." This finding suggests that, in the long-run financial innovation, FDI inflows, and exchange rate volatility move together. Moreover, study findings established adverse effects running from FDI inflows and financial innovation to exchange rate volatility in the long run. These findings suggest that continual FDI inflows and innovativeness in the financial system assist in lessening the volatility in the foreign exchange market. Furthermore, nonlinear ARDL confirms the presence of asymmetric cointegration in the model. The standard Wald test established asymmetric effects running from FDI inflows and financial innovation to exchange rate volatility, both in the long and short run. Directional causality unveils feedback hypothesis holds for explaining causality between FDI, financial innovation, and exchange rate volatility.

The main objective of this study is to discuss the effect of free cash flow as a moderating variable on managers' decisions as regard earnings management. Companies with free cash flow are expected to refrain from taking opportunistic actions such as earnings management. The research used quantitative methods with sub-group moderating analysis. It is found that there is a significant relationship between past performance and earnings management, where the free cash flow is the moderating variable. The effect of past performance on earnings management is shown to slightly increase as free cash flow is considered. The findings of this study prove that earnings management is a practice that is often done by utilizing the flexibility of accounting recording and recognition mechanisms. Past performance becomes the main variable in encouraging managers to manage earnings by reducing revenue in the current period. This research can also be a reference in explaining managerial behavior and can be a reference to improving ethical human resource capabilities. This research focuses on companies in Indonesia that conduct earnings management by lowering profits as a result of declining past performance and examines aspects of free cash flow that reinforces the conduct of earnings management.

The capital structure is one of the hot financial topics among researchers and scholars. Its importance comes from the fact that capital structure is closely related to companies' ability to meet different stakeholders' needs. A suitable capital structure will boost the business and create a competitive advantage in the context of fierce competition. Many companies choose an optimal debt level based on the trade-off between interest and debt costs. This study aimed to test the existence of trade-off theory in capital structure, the case of Vietnam's real estate companies, which are growing very fast recently. Instead of considering constant optimal leverage to test the trade-off model, we take advantage of the dynamic capital structure determined by growth opportunities, profitability, tax incentives, tangibility, liquidity, and firm size. The dynamic panel data regression was estimated by the system Generalized Method of Moment (Sys-GMM). The empirical evidence showed that real estate companies listed in the Vietnamese stock market might change their leverage toward a target capital structure determined by influential factors in a long-term perspective. In particular, the debt-to-asset ratio will change by approximately 14 percent, positively, in response to the difference between the current debt-to-asset ratio and the dynamic target debt-to-asset ratio.

This research aims to examine the model of investor herding behavior in making investment decisions in the Indonesian capital market, which is influenced by social and information impacting on the value of the Book Value Per Share (BVPS). The latest stock market conditions show that most investors make the same error pattern in making investment decisions that result in losses. The experiment involves two independent variables, namely, information about BVPS and social influence. This study used a 2×2 factorial design laboratory experimental method. Data collection was carried out through treatment of a sample of 100 individual investors listed on the Indonesia Stock Exchange. Univariate Two-Way Analysis of Variance (ANOVA) statistical tool was used to test the independent variable on the dependent variable. Research results showed that the social influence originating from expert investors is more influential than the Book Value Per Share (BVPS) information on the behavior of herding investors in making investment decisions. These findings suggest that investors know their psychological factors, thereby increasing self-control and investment analysis skills. Further research can use psychological bias and other indicators of accounting relevant information such as Earning Per Share (EPS) to test herding behavior in investment decision making in the capital market.

The aim of this paper is to empirically investigate whether and how domestic currency valuation is related to firm-level export competitiveness and profitability by using the unique firm-specific dataset on Bangladeshi nonfinancial firms which have been listed continuously from 2010 to 2018. To achieve the aim of this paper, 63 exporting firms are extracted from a total of 125 firms which have been continuously listed during 2010-2018 and used as the final sample firms. The Pedroni cointegration test reveals that export and import prices of the exporting firms are cointegrated in the short-run as well as long-run. The panel dynamic ordinary least square (DOLS) analysis finds that a firm's export competitiveness is maintained by high import inputs even in the presence of depreciation of Bangladeshi currency against the US dollar. Finally, the DuPont analysis finds that the depreciated Bangladeshi currency enhances an exporter's profitability. Conclusions based on the findings are consistent regardless of exchange rate types, such as, real bilateral exchange rate and nominal or real effective exchange rate indexes. Consequently, the firm-level findings of this investigation suggest that undervalution of home currency is essential for Bangaldesh which is one of the frontier markets in South Asia whose exporting firms are mostly price followers in global markets.

This study investigates the capital structure policy among Indonesian public companies. Previous studies suggest that capital structure policy could follow either static or dynamic behavior. The sample data used in this study was companies in the manufacturing sector, divided into three sub-sectors: the basic and chemical industry, miscellaneous industry, and the consumer goods industry. This study uses panel data from 2010 to 2018, with the Generalized Least Square (GLS) method and compared whether the fixed effect model is better than the common effect model. The results show that the dynamic and non-linear model tests can explain the capital structure determinants than the static and linear models. The dynamic model shows that the capital structure of a certain year is influenced by the capital structure of the previous year. The findings indicate that the company performs some adjustments in its capital structure policy by referring to the previous debt ratio, which implies support to the trade-off theory (TOT). The study also shows that profitability, tangible assets, size, and age explain the variation of capital structure policy. The patterns on the dynamic and non-linear confirm that capital structure runs in a nonlinear pattern, based on the sector, company condition, and the dynamic environment.

This paper investigates the long run hedging ability of precious metals against the risks associated with adverse conditions of economic and financial variables for Pakistan, the USA, China, and India. Monthly data of gold, silver, platinum, stock returns, exchange rate, industrial production, and inflation was collected for the selected economies. Saikkonen and Lutkepohl (2002) unit root test was employed to access the unit root properties of the data series and identify the break dates. Furthermore, this study used the Johansen cointegration test with and without structural breaks to identify the long-run relationship between metals prices and different financial and economic variables. The findings suggest that the time series under study have unit root problem at level with and without structural breaks. Without considering structural breaks, the Johansen trace test indicates that in Pakistan and China, gold, silver, and platinum hold a cointegrating relationship with macroeconomic and financial variables. For the US, gold indicates cointegration which supports the hedging ability of gold against inflation, stock, and industrial production in the long run. The results of the cointegration test after incorporating the structural breaks provide even stronger evidence of the long-run relationship of precious metals and consumer prices, exchange rate, and stock prices.

This study aims is to determine the factors that influence Indonesian rubber export supply based on the export destination countries. Indonesian rubber export supply is thought to be influenced by the variables like the volume of Indonesia rubber exports, the price of Indonesian natural rubber, the volume of domestic rubber production, the export volume of the previous period, the rupiah exchange rate against US$, the interest rate and real Gross Domestic Product (GDP). The data used is the annual time series from 1995-2015 based on export countries encompassing the United States, China, and Japan. Multiple linear regression with the Ordinary Least Square (OLS) method is applied to analyse the data. The results showed that the volume of Indonesian rubber exports to China is not influenced by domestic natural rubber prices and the Rupiah exchange rate against the Chinese Yuan. The volume of Indonesian rubber exports to Japan is influenced by the volume of domestic rubber production. The volume of Indonesian rubber exports to the three destination countries is influenced by the volume of domestic rubber production, interest rate, and real GDP.

The labor force plays an important role in attracting foreign direct investment (FDI) both in developed and developing countries. In countries where there are appropriate policies for training human resources and maintaining the health of human resources, such countries have a competitive advantage and can attract FDI inflows, besides having a workforce to meet the needs of foreign investors. The purpose of this paper is to analyze the effect of the labor force and several other factors on FDI attraction in Vietnam. The empirical model is employed to perform regression and correlation on the impact of the labor force, real gross domestic product, inflation, index of business freedom, and index of investment freedom on Vietnam's FDI attraction by using a secondary time series data set during the period 1995-2018. The empirical results found that both labor force and inflation have a positive influence on FDI at a 5% significance level; index of business freedom has a positive impact on FDI at a 10% significance level, and real gross domestic product and index of investment freedom have a positive impact on FDI at a 1% significance level. From these results, this study proposes several important policy implications for Vietnam in attracting FDI in the future.

This study aims to investigate the effects of fiscal policy instruments on economic growth in Jordan using annual data from 1970 to 2019, by applying the VAR model (Vector Auto regression) and the Vector Error Correction Model (VECM). The study also examines the dynamic relationship among economic variables over time using the Granger casualty test, Impulse Response Function, and Variance Decomposition. The results show that not only the public expenditures have a positive effect on economic growth in Jordan, but also the tax revenues positively affect the economic growth in the short-run, and this is because of using the tax revenues to finance the government activities in Jordan. This effect becomes negative in the long run, and this is explained because the tax seems a source of distortions in the economy, The extreme taxes may cause huge distortions in the economy, and these distortions destroys the purchasing power, the aggregate demand, and supply. More governmental dependence on tax revenues is the main source of tax evasion and less efficiency. The effect of taxation will curb any prosperity in the economy. Therefore, the government should estimate the fair tax rates to generate sufficient revenues to finance the public expenditure required to enhance economic prosperity.

This research aims to examine the effect of carbon emission disclosure on firm value and to reveal environmental performance and industrial type as the moderating variables. This study used 82 samples of companies listed on the Indonesia Stock Exchange (IDX) and receiving awards in the Indonesian Sustainability Reporting Award (ISRA) in 2014-2018. This study used a multiple linear regression analysis to test the hypotheses. The results showed that carbon emission disclosure had a positive and significant effect on firm value as carbon emission disclosure is a form of corporate concern on environment positively responded by the market and becomes the basis for investors to make their considerations in assessing the company sustainability. Besides, environmental performance and industrial type can strengthen the influence relationship of carbon emission disclosure on firm value since environmental performance was assessed based on ISO 14001 certification ensuring that the company has tried to preserve the environmental sustainability by creating a good environmental management system. Moreover, companies categorized into high profile industrial type have tried to change their unfavorable image and avoid lawsuits by performing carbon emission disclosure to gain positive responses from the market.

This study investigates the impact of gender diversity on the board of directors on corporate intellectual capital (IC) disclosure in Indonesia. For the study purpose, the sample was divided into two sections, i.e., companies with large capitalizations and companies with small capitalizations. A paired T-test was used to observe significant changes in the disclosure level between period and type of firm. Using linear regression analysis, the influence of gender diversity and other variables on IC disclosure was examined. The findings show that IC disclosure varies for large and small companies. The level of IC disclosure in large companies was stronger than in small companies. The results of the multivariate analysis showed that the profitability, leverage, ownership, and type of business of the company significantly affect IC disclosure. For companies with large capitalization, the presence of women directors on corporate boards or gender diversity on corporate boards does not impact IC disclosure. This is because the Indonesia Stock Exchange (IDX) does not insist on IC disclosure. However, for small companies, the existence of gender diversity has a significant effect on IC disclosure. The findings of this study suggest that policymakers and standard makers must consider the inclusion of IC disclosure on the annual report as mandatory.

The research purpose of this paper is to empirically examine the effects of technological readiness and innovation on logistics performance. To build up and maintain an important role in global supply chains, nowadays it is obvious that countries and logistics providers need to achieve competitive advantage in terms of digitalization. However, there is a lack of empirical studies about the impacts of information technologies and innovation potential on the logistics efficiency of countries. Hence, the study analyzes whether the corresponding pillars of the Global Competitiveness Index (GCI) matter for the Logistics Performance Index (LPI) and its dimensions. For determining the effects, the pooled regression approach is applied. The results show that technological readiness and innovation are positively and statistically significantly correlated with logistics performance: competence and quality of logistics services, efficiency of customs clearance processes, ability to track and trace consignments, frequency with which shipments reach consignee within scheduled or expected time, and ease of arranging competitively priced shipments. The findings of this study suggest that investments in innovations and technology progress improve countries' logistics efficiency, which is an important prerequisite for enabling Logistics 4.0 and thus, Industry 4.0 and the digital transformation of the economy and society.

Cyberloafing is activity deviation at the workplace where employees intentionally avoid doing their job during working hours that results in a decrease in productivity. Particularly in the context of this study, cyberloafing activity is the usage of the Internet while working. Yet, studies on the antecedents and consequences of cyberloafing in the context of industrial revolution 4.0 and society 5.0 have not been conducted. This research used a purposive convenient sampling of 280 employees in the business services branches in Indonesia, particularly the representative business service branches located in some cities and regencies, including Yogyakarta City, Sleman Regency, and Bantul Regency (Special Region of Yogyakarta) and its surroundings. The results show 3 antecedents of cyberloafing and 1 consequence of cyberloafing which influence each other. Furthermore, these findings have filled the existing gaps regarding the antecedents and consequences of cyberloafing in service provider industries in the context of industrial revolution 4.0 and society 5.0. From the results of this research, it can be concluded that the five hypotheses proposed in this study are supported. The antecedents and consequences of cyberloafing have been tested and proven in this study as a contribution to science and technology.

This research aims to test, firstly, how the disclosure of corporate social responsibility (CSR) helps to moderate the effect of family ownership on investment efficiency; secondly, how CSR disclosures mediate the effect of corporate governance on investment efficiency. STATA was used to analyze archival data collected from a total sample of 210 manufacturing companies listed on the Indonesian Stock Exchange (IDX), which were in the family businesses category for the period of 2016-2018. The first finding is that CSR moderates the effect of family ownership on investment efficiency. This implies that family businesses are very careful about investing. They will avoid risky decisions that may increase the economic wealth, but reduce the socio-emotional wealth. To maintain socio-emotional wealth, they tend to choose an underinvestment strategy and are more concerned with the prestige and good reputation of their families and dynasties than with economic wealth. Thus, CSR disclosures can reduce the underinvestment strategy of family businesses listed on the IDX. The second finding is that CSR disclosures are able to mediate the effect of corporate governance on investment efficiency. CSR activities play a major role in decision-making, and through CSR disclosures, corporate governance has a greater effect on investment efficiency.

The aim of this study is to examine the impact of board of directors' activity on the audit committee's effectiveness score among manufactured listed companies on Saudi Stock Exchange (Tadawul) for the period 2015-2017. The final sample of this study consists of 195 firm-year observations that represent manufactured companies listed on Saudi Stock Exchange (Tadawul) for the years 2015-2017. The data of this study in terms of board of directors' meetings, audit committee size and meetings, firm leverage, firm performance, and firm age were hand-collected from the annual reports of the considered companies. The Pooled OLS regression's result indicate that audit committee's effectiveness score is influenced by the board of directors' activity. This result gives support to the agency theory prediction. This result is also consistent with the complementary function of corporate governance mechanisms in which board of directors' activity complements the function of audit committee's effectiveness score. The result of this study should be useful for manufacturing companies, Saudi Stock Exchange, auditors, and regulators which relates to the association between board of directors' activity and audit committee's effectiveness score. This study provides a new empirical evidence on the impact of board activity on the audit committee's effectiveness score in an interesting context which is Saudi Arabia.

The objective of this study is to examine the direct and indirect influences of government's role, organizational commitment, and media exposure on the corporate social and environmental responsibility disclosure (CSERD) of 42 Indonesian state-owned enterprises (SOEs) with good corporate governance as the mediator. This study uses a quantitative approach with path analysis to test the hypothesis. The sample in this study was directors of 42 state-owned enterprises in Indonesia. The data was collected using a questionnaire with items assessed on a five-point Likert scale. This study finds that 1) the government's role, organizational commitment, and media exposure have direct influences on good corporate governance and corporate social responsibility disclosure; 2) the government's role and organizational commitment have significant influences on corporate social and environmental responsibility disclosure with the mediation of good corporate governance, indicating that government's role and the organizational commitment are factors affecting Indonesian state-owned enterprises; and 3) the media exposure through good corporate governance mediation does not have a significant effect on corporate social and environmental responsibility disclosure. This means that media exposure is only one of the tools for CSERD, while SOEs have no obligation to disclose CSER through website or printed media.

This study investigated the main concerns and strategies in Indonesian large family businesses to undertake intergenerational succession effectively. The research data was obtained to shed light on the incumbents' mindsets, key preferences, and experiences during the succession process. Access to incumbents of large family businesses that are conglomerates is scant. The preceding survey research was conducted to sensitize with the intricacy of the intergenerational succession process in large family businesses before entailing interpretative phenomenology analysis of qualitative data from interviews, observations, and field notes by approaching family members in five conglomerate groups that have major impacts on the economy. The findings explicate the incumbents' preferred criteria in choosing their successors as well as their perceived concerns revolving around the appointment. Additionally, the incumbents' succession approaches such as apprentice learning by successors, adaptability to external forces by successors, nurturing the entrepreneurial spirit in successors, governance establishment in the firms, business interest stimulation in successors, role modeling by incumbents, and collaboration between family and key non-family members are elicited during the intergenerational succession process. This study concluded with noteworthy implications for incumbents and successors in large family businesses, especially providing explicit criteria and strategies to appoint suitable successors, and suggesting potential avenues for future research.

The number of tourists visiting Nepal has shown rapid growth in recent years, and Nepal is expecting more tourist arrivals in the future. This paper, thus, attempts to analyze the tourist arrivals in Nepal and predict the number of visitors until 2025. This paper has examined the international tourist arrival trend in Nepal using the Gompertz and Logistic growth model. The international tourist arrival data from 1991 to 2018 is used to investigate international tourist arrival trends. The result of the analysis found that the Gompertz model performs a better fit than the Logistic model. The study further forecast the expected tourist arrival below one million (844,319) by 2025. Nevertheless, the government of Nepal has the goal of two million tourists in a year. The present study also discusses system dynamics scenarios for the two million potential visitors within a year. Scenario analysis shows that proper advertisement and positive word-of-mouth will be key factors in achieving a higher number of tourists. The current study could fill the gap of theoretical and empirical forecasting of tourist arrivals in the Nepalese tourism industry. Also, the study findings would be beneficial for government officers, planners and investors, and policy-makers in the Nepalese tourism industry.

This research seeks to determine what intellectual capital represented by indicators of conceptual skills, human skills, and technical skills plays a role in the development of financial technology. The consideration of fintech is more practical and economical. The concept of fintech is related to the rapid development of global technology by creating various new technologies, especially computer technology. This research uses secondary data; the population of this study is the top management companies in Indonesia during the new normal era. The sample in this research used a purposive sampling method, and the quantitative method. The results of this research indicate that the intellectual capital variable represented by conceptual skills has a significant positive role in the development of financial technology in the new normal era. This research posits that intellectual capital also has a role in the development of financial technology in the new normal. This is because the new normal period represents currently a new challenge in responding to the economic crisis that is resulting from Covid-19 pandemic around the world. Therefore, new concepts, new humanity, and new techniques are needed to develop financial technology, so that they can exist and encourage economic growth in this Covid-19 pandemic era.

The objective of this study is to identify the effects of ethical values reflected on zakat and Corporate Social Responsibility (CSR) on the financial performance of sharia banking in Indonesia. This study contributes to the Indonesia Financial Service Authority (Otoritas Jasa Keuangan (OJK) policies concerning the need for implementing ethical values in sharia banking and other sharia financial entities based on the philanthropic model, this study posits that firms undertaking zakat and charity are ethical firms. The population of this study is 8 sharia banks listed on the Indonesia Stock Exchange (IDX) in 2014-2018. The result of the study showed that zakat disclosure significantly affected financial performance. Moreover, ethical values that were proxied by CSR disclosure did not significantly affect financial performance. The limitation of the study is the limited number of the sample; therefore, it is expected that the future research adds other sharia financial entities and adds the dimension of management, sustainability, product, and the environment as benchmarks of ethical values. The originality of this study offers an additional explanation of the relationship between ethical values and performance by investigating zakat and CSR disclosure which is a unique factor in Indonesia.

This paper explores the relationship between price mechanism and flipping activity of initial public offerings (IPOs) in Pakistan's emerging economy. This study uses a cross-sectional data set of 95 firms listed on Pakistan Stock Exchange from 2000 to 2019. This study employs the ordinary least square and quantile regression techniques to capture the relationship between price mechanism and flipping activity. The results show that book-built IPOs flip substantially less than fixed-price IPOs. This is consistent with the signaling theory assertion that roadshows are arranged by underwriters to capture investors' demand and set the offer prices of IPOs. If investors learn the fair values of quality IPOs, then the offer prices will be close to the intrinsic values, thus reducing flipping. The findings also provide conclusive evidence for understanding the usefulness of and the more relevant information regarding the pricing mechanism. In particular, it provides a better understanding of how companies actually use the pricing mechanism information in the flipping of IPO shares. The results of this study are also valuable to underwriters, and regulators, for instance, provides underwriters with the discretion to allocate the IPO shares and the SECP, in revising regulation on the disclosure of IPO pricing methods.

The study aims to determine the influence of intellectual capital and education on public financial services in increasing financial inclusion. This study applied a survey technique by selecting respondents according to the purposive sampling method. The number of respondents in this study was 500 people and came from various regions in Indonesia. Data analysis was performed using Structural Equation Modeling (SEM) techniques. The results indicate that intellectual capital has a positive effect on financial inclusion. Conversely, education about public financial services has no influence in increasing financial inclusion. The results of this study indicate that the success of financial inclusion programs in Indonesia is caused more by the role of public intellectual capital. Studies show that the public does not have the courage to be involved in banking institutions because the image of this institution tends to be inflexible in its operations. The results of this study are expected to make a real contribution, especially for the government and banks, that in order to achieve the success of the financial inclusion program in Indonesia; the related parties should educate the public directly to citizens who have not been reached by banking services continuously and with a more down to earth approach.

Intellectual capital is becoming a crucial factor for a firm's long-term profit and performance in the knowledge-based economy as more firms identify their core competence as invisible assets rather than visible assets (Itami, 1987). The company was encouraged to measure financial and non-financial factors, including the customer perspective groups, the internal business process, learning and growth perspective, then to link all these measurements in a coherent system. This paper seeks to investigate the influence of intellectual capital elements on company performance, as well as the relationship among intellectual capital elements from a cause-effect perspective. Resource-Based View (RBV) considers intellectual capital as resource and capability to sustain competitive advantage on company performance. The partial least squares approach is used to examine listed banks in Indonesia Stock Exchange for year 2017-2019. Results show that human capital directly has positive influences on innovation capital, customer capital, and process capital. Innovation capital has positive, but less significant influence on process capital, which in turn influences customer capital. Human capital and process capital also influence customer capital. Finally, customer capital contributes to performance. This study helps management to identify relevant intellectual capital elements as competitive advantage and their indicators to enhance business performance.

This article provides empirical evidence on factors of internal audit (IA) characteristics affecting the internal audit effectiveness in steel enterprises in Vietnam. The study uses data from survey obtained from 114 responses representing owners, managers, and internal auditors from 38 steel enterprises in Vietnam for period from 2018 to 2019. Data collected is firstly checked with Cronbach's Alpha, then the EFA test, and the model linear regression is used to test the relationship between internal audit characteristics and internal audit effectiveness. Results reveal that internal audit effectiveness in steel enterprises in Vietnam is influenced by various internal factors, including the size of internal audit, the scope of internal audit, the capacity of internal auditors, the independence of internal auditor, and the operational bases and methods of internal audit. Based on the research results, the paper makes six recommendations: strengthening operational basis of IA; increasing the independence of IA; increasing the size and capacity of IA staff; expanding and not underestimate the scope of IA; and reforming the internal governance structure. These proposed recommendations could be applied, not only for steel companies in Vietnam, but also for other companies in Vietnam or other companies in jurisdictions that have similar conditions.

The most basic forces of stock market are supply and demand, which increases or decreases on the basis of information. The crucial point is that investor's perception is depending on the availability of information at a particular time. But it is very difficult to understand what they take from a piece of information, and the decision varies from person to person; hence, it is important to understand the behavior of investors in the stock market. In this context, this study is focusing on behavioral investor-type diagnosis testing among financial market players (FMPs) in Oman. The study conducted a review of behavioral types among stock market investors, and attempted to assess the influence of age and gender factors on investor bias. It classifies investor type biases according to the gender and age of respondents. This study employs primary data with a structured questionnaire distributed to an equal number of male and female stock market investors in Muscat Securities Market. The study used sample t-test, one-way ANOVA, CATPCA and ALSCAL to identify the significant difference among age, gender and experience of the respondents. The present study found that all of the investors are influenced by different cognitive biases and, moreover, it depends on investor's gender.

This study aims to identify and analyze the impact of internal factors on business efficiency of steel firms in Vietnam. The article uses data collected from the financial statements of 26 steel firms operating in Vietnam between 2012 and 2019. With the application of E-view software in quantitative analysis to build regression models on the table data (panel data), and the study has built a regression model identifying the relationship and impact level of internal factors affecting business efficiency of steel firms in Vietnam. In the study, the dependent variable is business efficiency, determined by the profit after tax on the firm's assets. The independent variables are firm size, growth rate, capital structure, ratio of long-term assets, receivables management, and solvency. The research results show that the four factors of firm size, growth rate of assets, receivables management, and solvency have a positive impact on business efficiency, while two factors including capital structure and ratio of long-term assets do not affect business efficiency of enterprises. The results of this article are very useful for corporate executives in general and for financial managers in particular, helping managers make the right financial decisions for the company to promote business efficiency of the company.

This article aims to explore the contribution of social media value to a company's financial performance in a digital environment economy since the awareness of companies and investors in the use of social media opens up new mechanisms for disseminating information. Quantitative method is used in this study with Multivariate Analysis of Variance as the analysis tool. The data used is secondary data gathered from Indonesia Stock Exchange (IDX) using 308 companies as samples. In the multivariate test, four kinds of multivariate significance tests were carried out, namely Pillai Trace, Wilk Lambda, Hotelling's Trace, and Roy's Largest Root. It was found that social media value has a small contribution in the difference of the level of profitability and the value of the company in Indonesia, but it doesn't have a contribution to the difference of the level of liquidity. The contribution was an implication of online Word of Mouth (WOM) motives which are interrelated with signal theory and as additional information for investors in relation to single-person decision theory. This study provides an insight into the importance of social media management considering that the world of digital economy will continue to develop, so companies in Indonesia need to take advantage of these opportunities.

This study examines factors influencing the corporate identity (CI) of pharmacy retail stores (PRSs) in Thailand as a means to construct a unique corporate identity to represent their strengths and image abroad. An exploratory sequential design was applied. A pilot study involving interviews with four pharmacists was conducted to obtain the variables, and then a questionnaire was designed and administered to 392 respondents. The collected data was analyzed to examine correlations via descriptive analysis, Pearson's correlation, and multiple linear regression (MLR). The results show that wisdom and pharmaceutical care explain 44% of the variance in defining Thai PRSs identity. There is a 61% chance that Thai PRSs should consider wisdom as the most important factor. These findings provide useful insights for pharmacists, pharmaceutical entrepreneurs, and owners of PRSs to enhance competitiveness by devising strategies to create their corporate identity. For the qualitative analysis, Thai PRSs should encourage pharmacists to gain real working experience to develop their wisdom, experience, and skills. Besides, PRSs that build identities as knowledgeable, sincere, and compassionate health providers can successfully expand their operations to other ASEAN countries, as end-consumers will be confident in the reliability of their services.

Accounting information disclosure by enterprises is important for third-party entities (suppliers, creditors, banks, regulators, etc.). Voluntary accounting information disclosure (VAID) refers to additional information related to business activities shown on the annual report above and beyond the required information about business results and financial position as well as cash flow. This supports the stakeholders gaining useful information to make proper business decisions. The article examines the influence of ownership structure on the voluntary accounting information disclosure of the top 100 Vietnamese listed companies (VN100). Data collected by authors on regular annual reports totaled 425 observations from 2015 to 2019. The article uses OLS to test multivariate regression models with time-series data. The research results show that there are three variables affecting voluntary accounting information disclosure, of which foreign ownership and institution ownership have a positive impact, while concentration ownership has an opposite impact. Accordingly, the managers of VN100 should raise awareness in order to demonstrate the obligation of information providers to users to ensure clarity and completeness. The state agencies should encourage VN100 to enhance voluntary accounting information disclosure. This contributes to improve the information level of Vietnamese listed companies to embrace the trend of international economic integration.

This study aims to document empirically the individual factors that influence the intention to do whistleblowing. This study uses several variables, including internal locus of control, external locus of control, and whistleblowing intention. The use of the theory of Planned Behavior in this study is to explain and analyze the perception of behavior control as a determinant of whistleblowing intention. A quantitative research approach is used. The type of data in this study is primary data in the form of a questionnaire. The data collection method in this research is using the survey method. The sampling technique used a nonprobability sampling method, namely, the census method. The census method is the entire population sampled. The population in this study was all employees of the Pratama tax office in West Semarang. The research was conducted by distributing 111 questionnaires. Ninety-one valid questionnaires were returned appropriate for analysis. The data were processed using Partial Least Square-Structural Equation Modeling ((PLS-SEM) using the Warp PLS 7.0 program. WarpPLS 7.0 was used to test hypotheses and the relationship between variables. The study results showed that both internal locus of control and external locus of control affect whistleblowing intention.

This study aims to identify the impact of the audit approach based on business risks (i.e., external environment risk, operations risk, information risk) in reducing unsystematic risks (i.e., operational risk, credit risk, liquidity risk, capital risk, and administrative risk) in Jordanian banks. To reduce the effect of unsystematic risks and, thus, improve banking performance, an audit approach based on business risks has emerged. To achieve the objectives, this study relied on descriptive statistics and the regression approach to study twenty-five Jordanian banks. The researcher used the intentional sampling method represented by employees of the accounting, financial and control departments in Jordanian banks. Seventeen banks contributed to the study, with a percentage of 68%, totaling 356 employees. A questionnaire was designed to obtain the data, and due to homogeneity among the sampling members, a purposive sample was drawn and 300 questionnaires were distributed. The results of the study found a statistically significant effect of the audit approach based on business risks with its combined dimensions on reducing unsystematic risks in Jordanian banks. The results of the study also found a statistically significant effect of the business risk-based audit approach with its combined dimensions on reducing operational risks in Jordanian banks.

The aim of this research is to understand and analyze the ways in which the current digital financial technology is impacting on the financial payment system provided by most of the commercial banks in Indonesia. This research analyzes the variables such as perceived ease-of-use, perceived usefulness, and perceived value on customer's intention to use in relation to the variable of trust as the intervening variable. The data collection is done through distribution of questionnaire; the population of this research consisted of the commercial banking customers located in Jakarta, Indonesia. The sample determination is done through Purposive Sampling and the analysis technique is using Partial Least Square (PLS). The results show that perceived ease-of-use, perceived usefulness, and perceived value have positive and significant effect on intention to use the mobile banking system; perceived usefulness of the application has the most significant influence on intention to use compare to the perceived of ease-of-use and perceived value of the mobile banking system. The results also indicate that, even though the mobile banking system has offered several benefits to the customer, yet it was not actively used by the banking customer compared to other commercial bank's mobile banking system in Indonesia.

The present study seeks to investigate the degree of awareness that constitutes the audit gap expectations (AEG) to determine which audit responsibilities can be narrowed or even eliminated. The author had surveyed a sample comprising four groups including auditors, auditees, the financial community, and other interest groups. In this survey, 1400 questionnaires were sent to the respondents, and the total number of responses was 454. The collected data was processed using statistical software SPSS, version 22. The Chi-Square test was used to analyze the effect of professional differences on AEG. The results of this study indicate that AEG cannot be eliminated due to the occupational impact of each survey group (about 46%), but it can be narrowed down to 54%, including a reduction of 11% in the knowledge gap (lack of public knowledge), 13% in the reasonable expectations gap (unqualified audit quality), 30% in the deficient standards gap (limited auditing standards). These results could be attained by improving training, communicating, and adding more responsibilities. This is the first study that provides another method of measuring the contribution of the knowledge gap through professional differences and professional gaps that make up each of the AEG's components.

The justice issue in the service recovery process has become an interesting topic especially in rural banks in Indonesia. There are two types of justice issues in handling the complaint process; distributive and informational. This study aims to analyze the effect of distributive and informational justice on complaint handling satisfaction. This study also examines the mediating role of positive and negative emotions on the effect of justice in post-merger rural banks. This research employs a survey by distributing a questionnaire to 238 customers who have complained to one of the post-merger rural banks in West Java and Yogyakarta. This study uses the structural equation modelling (SEM) method by WarpPLS software. The results reveal that distributive and informational justice have a positive effect on positive and negative emotions, while informational justice does not affect positive and negative emotions. Distributive and informational justice directly affect satisfaction over complaint handling. On the other hand, positive and negative emotions affect satisfaction over complaint handling. The findings of this study suggest that positive emotion also mediates the distributive justice effect on satisfaction over complaint. Lastly, positive and negative emotions do not mediate the informational justice effect on satisfaction over complaint handling at post-merger rural banks in West Java and Yogyakarta, Indonesia.

This study investigates the effect of infrastructure, economic sectors and its status, foreign direct investment and private investment, as well as the role of political stability in enhancing the tourism demand in the ASEAN region. The research collected the secondary data from the World Bank database and the UNWTO website of 10 ASEAN countries over 17 years from 2000 to 2016. Applying the generalized method of moments, this research found that, "private investment", "economic sectors", "exchange rate and infrastructure measured by "using of the internet" can increase the tourism demand of a country in the ASEAN region. This research provided evidence indicating that the "foreign direct investment" and "inflation" are two detrimental factors for tourist attraction. The major finding confirmed the positive role of "political stability" in increasing tourist arrivals. First, attracting tourists to a country always poses many challenges to its government. It has been observed in the past decades that though there were many documents, which confirmed that industry can help in promoting tourism, very few studies investigated the role of both agriculture and manufacturing sectors in tourism promotion. Secondly, there are only a few studies which verifies the stability of the political system to the tourism demand in the ASEAN region and that this variable (political stability) has the strongest impact.

The sophistication of technology information has led to a series of innovative activities in the economy, particularly in buying and selling products and services both conventionally and online. Currently online activities provide opportunities for customers to get the desired needs. The purpose of this research is to examine the effect of website quality, hedonic shopping motivation, and impulse buying on customers' satisfaction of online shopping in Indonesia. Eight online marketplaces are the focus of this research. This study uses a quantitative approach. This is a structural equation research with data obtained from 177 students through an online questionnaire using a five-point Likert scale; the selection criteria is having shopped online from various universities in Indonesia. The statistical testing tool used is SPSS 26.0, with the effect between variables determined using Partial Least Square (SmartPLS 3.0). The findings of this study indicate that the nine proposed hypotheses are accepted, positively and significantly, directly or indirectly, which are supported by previous research to reinforce the findings that have been found. The interesting attributes associated with this study are hedonic shopping motivation and impulse buying that mediate the relationship between website quality and customer satisfaction of online shopping in Indonesia's marketplace.

This study aims to establish the relationship between the Green Marketing Orientation (GMO) variables and the performance of Green Small and Medium Enterprises (GSMEs) across the building and energy sectors in Malaysia, using customer satisfaction as a means of performance measurement. The GMO variables examined include Greening the Process (GTP), Green Supply Chain Management (GSCM), Green Strategic Policy Initiatives (GSPI), Proactive Energy Conservation (PEC) and Green Promotion (GP). The items used to measure these variables were extracted from literature and adapted to the context of the variables based on feedback from Focus Group Discussions and Expert Opinion sessions. This study employs a survey sample of 300 respondents but only 238 completed questionnaires were returned. The results reveal that GTP, GSCM and PEC have a positive impact on Customer Satisfaction but not GSPI and GP. The findings suggest that owners or managers of GSMEs should focus on maintaining and improving GTP, GSCM and PEC in order to create greater satisfaction among their customers. The significance of this study is that it enables the creation of a framework that enables GSMEs to design a pathway towards achieving a cleaner production of goods and services in line with United Nations Sustainable Development Goals.

The study aims to analyze the factors that shape patient loyalty, namely, by involving the service quality factor (SERVQUAL), hospital image, patient value, and patient satisfaction in private hospitals. This study was conducted in Makassar City, Indonesia, with a sample of 296 eligible samples from private hospitals. The sample criteria were patients with outpatient and hospitalization status. Then, this study developed 23 hypotheses to test the statistical relationship between direct, intervening and multiple-effect models. Problem-solving and research focus are carried out using a quantitative method approach with a PLS-SEM-based testing tool. The bootstrapping method is being used with the constant bootstrapping step to demonstrate the results of hypothesis testing; we find that the overall hypothesis has a positive and significant effect. The combination of testing models involving several variables shows that a patient's loyalty can be formed if a patient's satisfaction has been realized. Satisfaction can be realized if the value-customer has been felt by the patients. Therefore, the hospital image must be directly proportional to service quality. Service quality is the essence of service that directly affects customers; service quality is also the reason that shapes consumer perceptions in increasing rationalization and solid customer (patient's) decision-making.

The purpose of this study is to identify the effect of seasonality on the tourism and hospitality industry in ArugamBay after the civil unrest across the different firms in tourism. This study uses both quantitative and qualitative analyses using primary data. Fifty questionnaires give valid responses that were used for analysis. Out of 80 questionnaires, the average response rate was 62.5%. An exploratory study, descriptive analysis, and an Independent Sample Test were used to identify the potentials of tourism, the overall impact of seasonality, and the impact of seasonality across different travel and tourism sector of the study area. According to the results, 83%, 75%, 68%, and 59.9% of firms agreed on the impact of seasonality on environment, workers, supply, and quality of services, respectively in ArugamBay. It also concluded that the impact of seasonality on workers, supply, and quality of services is not the same among all the categories of firms except environment. The variation in seasonality in the travel and tourism sector is because of the lack of regional planning considering the types of firms in the tourism sector. Also, insufficient resources and lack of consistent capacity between various firms in the sectors are also course variations because of the effect of seasonality.

The paper investigates the factors that affect the decision of young Chinese consumers to buy high-end cosmetics. The study is based on the responses obtained by questionnaires from 400 respondents in Guangzhou, China. The information was collected and classified on the basis of gender, occupation, age and education in order to understand the main characteristics of the sample in a better way. The purposive, convenient and quota sampling techniques of non-probability sampling method were used. Besides this, the predictive test was carried out with 30 respondents to ensure the reliability and validity of the questionnaires. The data was put to descriptive statistical analysis and multiple regression analysis in order to verify the hypotheses. The data revealed that, while brand awareness does not affect the consumer attitude about the high-end cosmetics, other factors like product involvement, perceived quality, subjective norm, and word-of-mouth have significant effect on consumer's attitude and consumers' intention about high-end cosmetics. The findings of the study show that subjective norm, perceived value, word-of-mouth, and consumer attitude of cosmetic products highly affect consumers purchase intention of high-end cosmetic products. The research paper helps to form concrete and effective marketing strategy based on various aspects of consumer behavior for high-end cosmetics in China.

This research seeks to find out how to provide satisfaction to consumers. The aim is to analyze and test empirically the effect of price and sales promotion on customer satisfaction that is mediated by service quality. This study uses primary data; questionnaires are distributed to 100 consumers at the Jingga Project boutique. The sampling technique uses simple random sampling. The data were collected using a questionnaire measured by a Likert scale with analysis tools using Warp PLS 7.0. The results showed that the variables price and sales promotion have a positive effect on customer satisfaction. Furthermore, the mediating variable, namely, service quality, is proven to be able to indirectly mediate the effect of price and sales promotion on customer satisfaction. In line with the marketing theory, which states that customer satisfaction is the feeling of pleasure or disappointment of someone who appears after comparing the performance (results) of the product against the expected performance. From the results of this study, it is clear that the variables price and sales promotion significantly affect customer satisfaction, as well as service quality, which is the mediating variable in this study. Service quality indirectly or partially mediate the effect of price on customer satisfaction.

The banking system provides a number of important functions for the economy and is also the lifeblood and financier of the economy in each country. Large amounts of idle money have not been exploited by banks; however, banks still depend on loans, including loans from foreign banks, to meet the growing demand, as such, for banks, the cost of capital is high, the stability and business efficiency are low and banks have not promoted their internal resources to grow steadily. To achieve the goal, this research analyzes the factors affecting the choice of bank for the deposit decisions of customers in Vietnam. The study used a sample data of 250 individuals and SPSS software was used to analyze the data. The results showed that customer policy has a positive effect on customers' deposit decisions in a bank, and this is new evidence regarding behavioral theory in the case of Vietnam. Results further demonstrated that other factors such as employee image, brand, interest rate, relative influencing, and transaction time positively impact the choice of bank for the deposit decisions of customers. However, the bank's promotion strategies had no impact on the choice of bank for the deposit decisions of customers. Besides, employee image is the most influential factor in the deposit decisions, followed by the bank's brand and interest rate.

This study aims to investigate the determinants of turnover intention among company managers in Indonesia. Based on the literature, this research hypothesizes that job satisfaction is a mediator in the relationship between compensation, career and turnover intention of companies in Indonesia. Respondents as research samples are grouped into middle managers from two industries, namely, manufacturing and services. A total of 215 questionnaires were returned from middle managers. Data analysis used Structural Equation Model - Linear Structural Relationship (SEM LISREL). The research results prove that compensation and career have a positive effect on job satisfaction. Compensation, career, and job satisfaction have a negative impact on turnover intention. Compensation is known to be one of the motivating drivers of workers around the world. From this study it can be said that, if middle manager teachers are well compensated, they will be encouraged, persuaded and will have positive feelings toward their work, and this will result in staying put. It works also with career and job satisfaction. If both variables are considered carefully, intention to move tends to be low. These findings provide new insights into the field of international human resources in developing multinational companies and service businesses.

This study aims to explore the relationships between strategic planning, strategic maneuverability, and firm performance in the current dynamic business environment. It employs a quantitative research method and reports on a survey, using a questionnaire, of service companies in Indonesia's oil and gas industry. Of the 337 companies selected by simple random sampling from a vendor database, responses were received from 70 companies. The analysis was performed using Partial Least Square Structural Equation Modeling and SmartPLS software. The analysis consisted of descriptive statistics, evaluation of the measurement model, evaluation of the structural model, and hypotheses testing. The results show that both strategic planning and strategic maneuverability have a positive relationship with firm performance. In addition, there is a positive relationship between strategic planning and firm performance through the mediating role of strategic maneuverability. The findings suggest that the organizational agility, organizational flexibility, and organizational responsiveness that constitute strategic maneuverability have a positive direct and indirect effect on firm performance, namely financial performance, customer performance, internal process performance, and learning and growth. This study contributes to the strategic management literature and the theory of maneuvers by providing empirical evidence on the relationship between strategic planning, strategic maneuverability, and firm performance.

This study examines the relationship between three major elements -Transformational leadership, Prosocial Behavioral Intentions, and Organizational Performance of full-time academics from different universities and colleges in Oman. A total of 322 full-time employees from different universities and technical colleges participated in an online survey and hardcopy survey. The data was collected using the primary data collection method. Structured scales were adopted for the study to include all the variables under study (Garcia-Morales et al., 2012; Baumsteiger et al., 2019). The adopted questionnaire was slightly modified to align with the circumstances of universities as well as colleges in Oman. A hypothesis is formed to find out the significant contributions among different sample categories. The correlation method was used to find out the relationship. It was evident from the result that there exists a significant relationship between major variables under study. This study reveals an important characteristic of transformational leadership towards prosocial behavioral intentions as it has a connection with organizational performance. There is limited research available to find out the relationship between prosocial behavioral intentions, transformational leadership, and organizational performance. This research focuses on identifying the antecedents and factors influencing organizations' performance efficiently and productively.

In the current Covid-19 pandemic, technology's role is important; with technology, all activities can carry on. This study explains that technology, organizational culture, and job satisfaction at rural banks in Bali can be a motivation for improving performance, especially during a pandemic. A questionnaire is distributed online using Google Form to a total of 350 employees; the data is collected from a sample of employees from rural banks in Denpasar, Bali. Respondents had to meet the following criteria: a minimum work period of one year and a minimum high school education or equivalent. With these criteria, 100 samples were obtained. The dependent variable is employee performance; the independent variables are organizational culture, technology, and job satisfaction; the intervening variable is work motivation. This study uses Structural Equation Modeling with a variance-based or component-based approach with Partial Least Square. The study results show that organizational culture, job satisfaction, and technology provide motivation and have a significant positive effect on employee performance. However, organizational culture does not have a positive or direct impact on employee performance. The study results can be used as a basis for designing business strategies to improve employee performance in a competitive environment to advance the credibility of a bank.

The research objective was to analyze the effect of work behavior on organizational citizenship behavior (OCB) and organizational commitment. For this, we analyze the effect of organizational commitment on OCB and analyze organizational commitment as a mediating variable in the relationship between workplace behavior and OCB. This study employed survey data for 80 employees of 12 village credit institutions in the Badung Regency. Observation is one way to obtain primary data. It is done by observing the object, which is the primary source of data, and conducting direct observations of the research location to determine the circumstances and problems. This research uses data collection techniques: 1) interviews conducted with employees working in Badung Regency both in managers and staff positions. 2) Questionnaire, namely, by using several closed questions given to the Badung Regency employees regarding workplace spirituality, organizational commitment, and OCB. The analysis technique used the partial least squares (PLS) approach and the Sobel test. The results show that workplace spirituality does not affect OCB but positively affects organizational commitment. Also, organizational commitment has a positive effect on OCB. The major findings are organizational commitment acts as a mediating variable in the relationship between workplace spirituality and OCB.

This study aims to investigate the impact of Human Resource Management Practices (HRMP) on improving Employee Performance (EP). The study is accomplished by hypothesizing the impact of HRMP on EP, additionally, this impact is theorized to be mediated through job satisfaction. Employee engagement is also taken into account because of the potential moderating effect it has within the theorized model. Data was collected from 480 questionnaires which were distributed among commercial banks' workers in Jordan and were analyzed using structural equation modeling techniques (SEM), path analysis, and confirmatory factor analysis (CFA). Analysis of a moment structures (AMOS) software version 24 was applied to complete our analysis. The results show that HRMP had a positive impact on EP, as well as job satisfaction and its components (job stability and job enrichment). The mediating role of job satisfaction (enrichment and stability) was discovered. Finally, employee engagement emerged as a moderating variable linking HRMP and EP. The findings of this study show the importance of the role played by job satisfaction and employee engagement in achieving human resources performance goals. Future analysis is recommended to gain deeper insight into the relationship between HRMP, job satisfaction, worker training, and performance appraisal.

The study aims to investigate differences between men and women in influence of various socio-demographic factors on choice of mode of transport. For this purpose, a binary logit model of choice probabilities is implemented on survey data of a developing country city. Results indicate women's choice of travel mode to be more environment-friendly than that of men. Well-educated, working and middle-aged individuals appear to be the most likely to choosing more-polluting modes of transport for frequent travelling purposes. Individuals in the sample who are the least socioeconomically well off are found the most likely to be promising for the environment. The findings of this study suggest the future transportation policies toward development of existing infrastructure of greener modes of transportation in the city such as, public transportation services and pedestrian lanes, so as to manage the rising issues of degrading environmental quality. The study highlights how the consideration and inclusion of socio-demographic factors is crucial for policy recommendation regarding curtailing the environmental damages contributed by transportation sector. Because mobility crucially affects all other indicators of empowerment, and women are the ones using green modes extensively, the city's transportation system should be so developed which gives their safety and security due importance.

The purpose of the study is to investigate the simulated effects of the Philippine tax reform, which is called Tax Reform for Acceleration and Inclusion Law, on household income and occupational choice. The study utilized the Family Income Expenditure Survey and tax collection as input to Computable General Equilibrium-Top Down Behavioral Microsimulation approach to determine the effect of Philippine tax reform on household income and occupational choice. The results of the study show that the household income in the Philippines will increase due to the implementation of the Philippine tax reform. Also, the study had found that tax reform results drive the household to shift from being farming entrepreneur to salaried workers since the utility derived from being workers is much higher compared to the utility derived from being entrepreneur. The findings of this research suggest that the Philippine Tax Reform for Acceleration and Inclusion Law is beneficial to the household since their income would increase, which will further result to an increase in their capability to buy goods and services. However, the tax reform would also lead to imbalance between the distribution of numbers of workers across sectors such as entrepreneurial farming, entrepreneurial non-farming, and wage sector.

Strategic management of universities is crucial for the regional competitiveness due to the high impact of universities on the economic growth of regions through entrepreneurial training and support. The study aimed to investigate the HEInnovate self-assessment tool, valuable in building entrepreneurship-oriented strategy, by considering the case of Turan University. The tool can be used to study entrepreneurial capabilities of the university and make strong management decisions. The self-assessment allows getting feedback from all stakeholders, including external ones, which helps to make institutional changes to influence the regional economic growth. The framework of the research is based on the theories of strategic management and regional competitiveness, which can be deployed with the HEInnovate self-assessment recommendations and findings. The research methodology comprises objective and functional approaches to system analysis. HEInnovate self-assessment by Turan university revealed some weaknesses in the university strategy and helped make some recommendations, namely, the university's entrepreneurial ecosystem must act as part of a regional business support ecosystem to provide input into local economic development, attract more international faculty and faculty with more practical experience, create an entrepreneurial culture across staff of the university, address a lack of internal structures to support staff, and improve university-business cooperation.

This study aims to investigate the implementation of village fund (VF) policy in Indonesia by addressing the following issues: (1) what is the VF policy; (2) factors that support and hinder policy implementation; (3) impact of policy implementation; and (4) model for implementing village fund policies that can improve community welfare. Through a descriptive qualitative-based approach, several indicators are measured, namely, the substance of implementing rules, the results of project implementation, supporting and inhibiting factors for policies, participation factors, and the impact generated by village fund policies, which include social and economic effects. The extraction of this information and indicators will lead this study to produce ideal models and propositions for quantitative confirmatory research as a future research agenda. This study was conducted in two villages (Mojomulyo and Tambakromo) in Pati District, Central Java, Indonesia. Data collection model using interviews and observations from all actors who play a role (e.g., village government, village supervisory agency, and community). The study results show that policies have been implemented by normative rules; there are several supporting and inhibiting factors both internal and external. The study results also confirm the relevance of the articulated theory and some comprehensive input to our study.

The banking sector is one of the most important sectors in Pakistan's struggling economy. Recent studies have recommended that suitable methods can be applied to predict bankruptcy. In this context, this work analyzes Pakistan's banking sector's financial status through the five-factor Altman Z-score model, which determines the probability of bankruptcy for an organization. Banking data has been collected through the Pakistan Stock Exchange (PSX) in the period 2013-2017. The Z-score assessment criteria is defined as: Z> 2.99 - "safe" zone; Z> 1.8 Z>2.98- "grey" zone; and Z <1.8 - "distress" zone. Results show good predictions for the local banking industry, while most foreign Pakistani banks were found bankrupt with the Z-score below 1.1. One of the financial risks investors face when investing in any company is the risk of bankruptcy. One of the most used models for predicting financial distress for any company is Altman's Z-score model. On the other hand, the Z-score analysis suggests that all banking establishments are not bankrupt because they have sufficient ability to control bankruptcy. At the same time, foreign banks failed financially and would not be able to be sustained in the future because they do not have the ability to pay the short-term and long-term debt.

This study investigates the nexus among the South Asian economies. Effects of shocks in the equity market of one country on the equity market of the other country are examined. For empirical analysis, the time series monthly data is used for the period from February 2013 to August 2019. The study focuses on the four larger economies of the region, namely, India, Bangladesh, Pakistan, and Sri Lanka. To investigate for asymmetric effects of positive and negative shocks, EGARCH model is used. The findings show the mix nature of the spillovers between the various pairs of countries. The equity market of Pakistan has two-way spillover effects with the equity market of Bangladesh, but has no association with the equity markets of India and Sri Lanka. The volatility in the equity market of India significantly influences the volatility of the financial markets of Bangladesh and Sri Lanka. Similarly, the capital market of Sri Lanka has a negative association with the equity market of India as well as Bangladesh, but does not affect the equity market of any other country. These findings validate the argument in the literature that geographic location influences the nexus among equity markets. The findings are important for policy-makers and investors.

The oil and gas industry is widely known as a vital engine of Vietnam development, stimulating researchers to examine the association of various factors with this industry. The aim of this study is to identify the relationship between different variables affecting profitability of the firms in the oil and gas sector in Vietnam. The total of 203 samples were collected from 29 companies listed on Vietnam Stock Market during a 6-year period from 2012 to 2018. Informed by prior research, this investigation employs financial leverage (FL), government ownership (GOV), dividend payout (DIV), fixed assets to total assets (FA) and exchange rate (EXR) as independent variables, while the profit is described by return-on-assets (ROA). The study results show that there are four factors that have an impact on ROA, namely, leverage, government ownership, dividend, and exchange rate. Whereas leverage and exchange rate have negative influence on ROA, government ownership and dividend payment have a positive effect. The findings of this study suggest that high debt ratio in capital structure and the negative effect of exchange rate on their companies' efficiency can adversely affect the profit of enterprises. Also, plausible extent of government ownership and dividend payment could also be considered to optimize corporate performance.

Faith-based investment instruments, such as sharia-based stocks, have developed rapidly in recent years. When investing in these instruments, investors tend to emphasize materialistic returns as measured with monetary returns and metaphysical returns, such as blessings from God (Allah) because of their observance of Islamic teachings. In this respect, it is important to investigate the role of individuals' religiosity in investment decision making in Sharia-based financial products. An equally crucial research question is whether individuals' religiosity levels affect expected material returns as measured by the tolerable negative returns of sharia-based stocks. This study relies on a survey method that involves university students in Java island who actively invest through the Investment Gallery of their faculties/ universities as the sample. Data is then analysed with the multinomial regression analysis technique. The results show that individuals who are more observant of their religious teachings are more likely to fully invest their funds in Sharia-based stocks and exhibit greater tolerance towards the negative returns of Sharia-based stocks. The findings indicate that Muslim investors who are more observant of Islamic teachings emphasize metaphysical returns from their investment decisions.

The purpose of this research is to examine the impact of information risk on the Cost of Equity (COE) and whether the risk of a stock price crash mediates the relation between information risk and COE. To test the dynamic nature of the proposed model, the two-step system GMM dynamic panel estimators are applied to all the non-financial firms listed on the Pakistan Stock Exchange (PSX) from 2007- 2018. The results of this study show that all three types of information risk, as well as the risk of the share price crash, increases the COE. The crash risk strengthens the impact of information risk on the COE. Moreover, these three information risks are correlated with each other and an increase in information quality reduces the effect of asymmetric information and improves the investor interpreting ability, while an increase in private information decreases the transparency. The finding is crucial for asset pricing, portfolio management, and information disclosure. This study contributes to the literature by providing novel findings on the impact of three different types of information risk, i.e. private information, quality of information, and transparency of information on the COE as well as whether crash risk mediates the relationship.

The main objective of this study was to investigate the impact of access to finance on the different dimensions of poverty. To achieve the objectives of the study, the participants/beneficiaries of the Mudra scheme were included and sample of target respondents was extracted through multistage random sampling technique. The sample for the study was taken from the Union Territory of Jammu and Kashmir of India. The study further utilized secondary data from the government official websites and lead banks. A paired t-test was applied to test the impact of access to finance across the various dimensions of poverty by constructing the Multidimensional Poverty Index(MPI), after checking the normality of the data. MPI incorporates dimensions such as education, health, and standard of living.The finding of the study revealed that dimensions of poverty responded positively to access to finance. The study shows that larger access to finance has helped in reducing the multidimensional poverty by having moderate, but positive impact on the standard of living, health, and education, thereby improving the lives of the poor. The present study identified that the level of impact of access to finance is moderate and further explains its importance for policy implications.

This study examines the non-performing loans of rural banks and macroeconomic factors in Indonesia, including inflation, exchange rates, and interest rates. Theoretically, the existence of erratic macroeconomic conditions can affect the level of non-performing credit risk in rural credit banks in Indonesia. The effect of macroeconomic conditions on non-performing loans has a different response for each economic sector. The main objective of this study is to determine the effect of macroeconomic factors (inflation, exchange rates, and interest rates) and bank-specific factors (credit) on the Non-Performing Loans (NPL) of Rural Banks in Indonesia for the period from January 2015 to December 2018. This study uses a Vector Error Correction Model (VECM) estimation to determine the effect of independent variables consisting of macroeconomic factors and bank-specific factors. Based on the estimation results of the Vector Error Correction Model, three variables that have a positive and significant effect on long-term non-performing loans are credit, inflation, and interest rates. Meanwhile, in the short term, there are only two variables that have a positive and significant effect on non-performing loans, namely, credit and interest rates. Inflation and exchange rate variables have a negative and insignificant effect on bad credit in the short term.

This paper aims to develop a conceptual framework for determinants of spillover effects of FDI on technology innovation of Vietnamese enterprises. The research proposes a logistic regression model for assessing how enterprises' ability to implement technological innovation is affected by the presence of FDI enterprises as well as other factors that show the change through the indirect influence of FDI such as the size of the enterprise, the type of enterprise, and the skill level of the labor force or its research and development activities. Five forms of technology innovation are considered: improving production process; product quality improvement; product expansion; expanding business activities into a new field of production; and changing business activities into a new field of production. General Statistics Office of Vietnam provided survey data to collect information from 3,166 enterprises in the manufacturing and processing industry in Hanoi, which were valid for analysis. The results show that all variables of enterprise type, size, R&D, and industry have a positive impact on the selection of one of the innovation forms. Several recommendations are further suggested to take advantage of the positive effects and minimizing the negative effects of FDI for technological innovation of Vietnamese enterprises.

Default has become an extreme concern in the current world due to the financial crisis. The previous prediction of companies' bankruptcy exhibits evidence of decision assistance for financial and regulatory bodies. Notwithstanding numerous advanced approaches, this area of study is not outmoded and requires additional research. The purpose of this research is to find the best classifier to detect a company's default risk and bankruptcy. This study used secondary data from the Pakistan Stock Exchange (PSX) and it is time-series data to examine the impact on the determinants. This research examined several different classifiers as per their competence to properly categorize default and non-default Pakistani companies listed on the PSX. Additionally, PSX has remained consistent for some years in terms of growth and has provided benefits to its stockholders. This paper utilizes machine learning techniques to predict financial distress in companies listed on the PSX. Our results indicate that most multi-stage mixture of classifiers provided noteworthy developments over the individual classifiers. This means that firms will have to work on the financial variables such as liquidity and profitability to not fall into the category of liquidation. Moreover, Adaptive Boosting (Adaboost) provides a significant boost in the performance of each classifier.

The purpose of this study is to examine the reaction of stock prices on the implementation of Extensible Business Reporting Language (XBRL) in companies listed on the Indonesia Stock Exchange (IDX). Using the event study method and calculating abnormal returns of the 2015 financial statements of 462 companies listed on the IDX, findings showed that 49 companies have not applied the XBRL format in their financial statements. Based on the results of the Average Abnormal Return (AAR) and Cumulative Average Abnormal Return (CAAR) values, using the one-sample test, investors react to shares in companies that have not implemented XBRL and who have implemented XBRL; however, based on the independent t-test based on average values there are differences between companies that have not applied XBRL and those who have implemented XBRL. This research only looks at the one-year implementation of XBRL in financial reporting (2015), then the research does not separate which companies are on time in the delivery of financial statements to the public through the IDX website. Our research contributes to the understanding of the use of XBRL in corporate financial reporting because before the XBRL financial reporting format was published, the company had published a financial statement format based on the legal provisions of financial statements in Indonesia.

This paper investigates the effect of environmental performance and environmental management on firm value using financial performance as mediation variable. There are still inconsistencies in research on environmental performance and environmental management and their impact on company value. This research used a quantitative approach involving secondary data. The variables used are environmental performance, environmental management, company financial performance, and company value. Multiple regression was used because it allowed the researchers to examine the relationship of each variable contained in the research framework by describing all of the direct effects (non-mediated effects) and the indirect effects of the research variables. The research sample consisted of 144 manufacturing companies listed on the Indonesia Stock Exchange from 2012 to 2017. Statistically, this study found that there was no direct effect that had a significant impact on environmental performance and firm value, and found that there is a significant direct effect of environmental management variables on firm value. Improved environmental management by the company is proven to increase the value of the company directly. This paper found that, not only does an increase in stakeholder trust happen when a company increases its environmental awareness, but there is also an increase in the financial aspects of the company.

This paper attempts to study the impact of Financial Literacy on Youth Entrepreneurial Intent in Pakistan. A closed-ended self-administered structured questionnaire covering financial literacy, computer knowledge, financial attitude, and financial knowledge with Entrepreneurial Intent was collected from young entrepreneurs. The research tried to investigate the education level with computer skill to inspect the effect of financial literateness on young generation Entrepreneurial Intent in the context of Pakistan. The research model was tested using PLS-SEM and authenticating a measurement model through the advanced methodology and their association with Entrepreneurial Intent. Results revealed that financial literacy and its two parts (financial attitude and financial knowledge) have a positive impact on Entrepreneurial Intent. The size of the joint impact of financial literacy and its components on Entrepreneurial Intent was assessed to be adequate. Entrepreneurial Intent is essential for creating new firms to maintain economic development. Furthermore, it is determined in this research that if youth has better financial knowledge and financial attitude, the probability of Entrepreneurial Intent increases. This suggests that if the youth in Pakistan desire to attain a higher limit of Entrepreneurial Intent, they must implement financial literacy models for enhancing and promoting their current Entrepreneurial Intent.

A firm's competitive advantage generating from empowering its dynamic capabilities is very important for established companies and new business ventures in facing intense competition and in responding to unanticipated environmental changes. This study aims to investigate the relationship between dynamic capabilities of a new business venture and its competitive advantage and the effect of entrepreneurial creativity and ambidextrous innovation mediation on the relationship between dynamic capabilities and the competitive advantage of a new business venture. Data was collected using an online survey from 143 new Indonesian shipping agency companies that spread over two-thirds of Indonesia's territory and was analyzed using structural equations modeling (SEM). The results showed that the dynamic capabilities of new business ventures are positively associated with competitive advantage but not significantly. This result indicates that empowering a new business venture's dynamic capability is not sufficient to generate a competitive advantage. However, a new business venture's dynamic capability is significantly and positively associated with the competitive advantage when mediated by entrepreneurial creativity and ambidextrous innovation. The findings of this study suggest that the competitive advantage of a new business venture can be gained from empowering a firm's dynamic capabilities through mediating entrepreneurial creativity and ambidextrous innovation in facing intense competition and in responding to unanticipated environmental changes.

On September 25, 2015, 193 countries of the United Nations (UN) General Assembly, signed the 2030 Agenda to work towards attaining 17 Sustainable Development Goals (SDGs) and its associated 169 targets and 232 indicators. With one of the largest renewable energy programs, India is well-poised to be a role model for low-carbon transformation to other Asian countries. However, bridging the financing gap is critical to ensure that the country meets its SDG targets. Though the SDGs identified by the UN are broad-based and interdependent, for ease of analysis we have grouped them into five themes - people, planet, prosperity, peace, and partnership - based on existing UN models. This paper investigates the financing gap for 'green' projects linked to planet-related SDG targets in India. It builds an argument for utilizing green bonds as an instrument to bridge the gap. After establishing the potential of green bonds in raising the finance to meet India's planet-related SDG targets, we look at the current policy landscape and suggest recommendations for successful execution. The paper concludes that deepening of the corporate fixed income securities market and firming up guidelines in line with India's climate action plans are inevitable before green bonds can be considered a viable financing option.

This study investigates the relationships of energy firm-level characteristics, namely; firm size, firm leverage, and firm performance with board diligence among companies listed in Saudi Stock Exchange (Tadawul) for the periods ranging from 2012 to 2019. The final sample of this study consists of 32 firm-year observations. A quantitative approach was adopted to test 3 specific hypotheses developed for the board diligence model. Using the Pooled OLS regression, this study finds that firm size and firm performance are negatively associated with board diligence. The results of this study indicate an insignificant association of firm leverage with board diligence. Besides, firm performance is related negatively to board diligence. This indicates that the board of companies with poor performance increases the number of its meetings because of the increased pressure on the board to improve its oversight operations and address the severe performance challenges. The increased number of board meetings observe the daily management of the company, increase the chances for discussions concerning the performance challenges, and come up with solutions faster. The directors are also likely to encounter heightened pressure to appear more engaged during a company's financial distress since lenders require a meeting of the board or with the board.

The research aims to analyze the level of efficiency by grouping banks during the period 2017 - 2018 into category 1 and category 2 banks and then dividing them as Regional Development Banks (BPD) and Non-BPD Conventional Commercial Banks (BUK) within each category. The research objects are banks within the categories BPD and BUK comprised 18 BPDs and 35 BUKs. The research methodology uses 3 stages, first, using Data Envelopment Analysis (DEA) we measure the level of bank efficiency; second, using the Tobit regression model we evaluate the effect of financial performance on DEA efficiency, and third, using the Mann-Whitney test we determine whether there is a difference in the efficiency of category 1 and 2 banks. The results showed that there was a decrease in the efficiency of category 1 and 2 banks but on average, the efficiency of category 1 banks is higher than category 2 banks. The estimation results of the Tobit regression model show that only the ROA variable affects the efficiency level of category 1 banks, while category 2 banks are influenced by NPL and ROA variables. In the Mann-Whitney test, it was proven that there were differences in efficiency between BUK and BPD in category 1 and 2 banks.

This research is conducted to measure the efficiency level of Islamic banking in Indonesia and also to analyze the factors that can affect its efficiency level. This research used a purposive sampling technique to determine the sample size that will be used, with criteria that the bank has been operating since 2010 and consistently published its financial reports during the research period from 2011 until 2019; therefore, the total sample obtained was 11 samples. Analysis for efficiency level is done by using linear programming Stochastic Frontier Analysis (SFA), with test tool in the form of Frontier 4.1 and Eviews9 to find out what factors that affect efficiency. Efficiency test is done by involving input and output, while influence test used bank-specific variables comprising bank size, bank financial ratio, and macro-economy variable. Research result shows that there are only two banks that are almost close to being fully efficient firms, but the result still does not indicate that Islamic bank works efficiently. Results of the influence test show that factors affecting Islamic banking efficiency in Indonesia are bank size, Capital Adequacy Ratio (CAR), Non-Performing Finance (NPF), and Financing to Deposit Ratio (FDR), while other factors are not influential over the study period.

In this digital age, all organizational environments force businesses to adopt Information and Communication Technologies (ICT) since these technologies have immense impact on such businesses' competitiveness and productivity. Nonetheless, the productivity and the competitiveness enjoyed by such firms vary depending on the size or the organizations, context of the country; developing or developed, and what kinds of technologies are adopted. This investigation focused on small- and medium-sized enterprises (SMEs) of Eastern province of Sri Lanka where such studies are scanty. The adoption of social media (SM) by SMEs is inclined to change how organizations operate, this calls for an investigation of the elements that impact SMEs to adopt SM and such investigation. Technology-Organization-Environment (TOE) framework was based to understand the factors. Research approach was quantitative approach using questionnaire survey. Data were collected using online form to see 285 valid responses. Structural Equation Modelling was deployed to evaluate the proposed model. Results revealed that Relative Advantage, Compatibility, Complexity, Observability, Competitive Intensity, Bandwagon Pressure, and Competitive Pressure were influencing, while Trialability, Top Management Support, CEO's Innovativeness did not show statistically significant influence on SMEs' social media adoption.

The purpose of this research is to analyze the effect of financial elements (asset growth, liability growth, equity growth, revenue growth, and profit growth) on stock price performance and to analyze the growth of Corporate Social Responsibility (CSR) costs as a moderating effect. The technique analysis used is regression analysis. Samples in this analysis are manufacturing firms listed on the Indonesian Stock Exchange (IDX) for the period 2014-2018. The use of regression models for hypothesis testing must fulfill several applicable assumptions such as Normality Test, Heteroscedasticity Test, Multicollinearity Test, Autocorrelation Test, Model Fit Test, Determination Coefficient Test, and Hypothesis Test. Data analysis used two research models, namely model 1 and model 2. Model 1 is without the moderating variable, and model 2 is with the moderating variable, that is, CSR cost growth. Based on the result of the regression analysis, it can be inferred that the asset, revenue, and profit growth have a positive impact on stock price results. Liabilities and equity growth do not affect stock price performance. Operating expense growth has a significant effect on price performance. CSR cost growth can moderate the effect of growth in financial statement elements on stock price performance but is not significant.

The purpose of this study is to test empirically the effect of Islamic business ethics and market conditions on organizational performance in state-owned construction companies in Indonesia. Data collection in this study was conducted online and the total number of data used was 81 respondents, both directors, heads of departments, and managers (general and project). This study uses a partial least squares structural equation model (PLS-SEM) with a quantitative approach that aims to test hypotheses and relationships between variables, such as Islamic business ethics, market conditions, project management, organizational culture, competitive strategy, and organizational performance. This study shows Islamic business ethics has a significant direct effect on organizational performance. Market conditions do not have a direct significant effect on organizational performance. Meanwhile, the mediating variables of project management and competitive strategy have a significant direct effect on organizational performance. Organizational culture does not have a significant influence on organizational performance. Conversely, market conditions have a significant influence through the mediating variables of project management and competitive strategy on organizational performance. Besides, this study is an attempt to determine the impact of the criteria factors affecting the measurement of the performance of construction organizations in Indonesia in terms of the external environment and organizational structure.

This study aims to test whether and to what extend national culture affects the readiness of business-to-consumer (B2C) e-commerce across the world. We regress two sets of data at national level: (1) the ratings of two main dimensions of Hofstede's national culture framework, uncertainty avoidance and individualism, and (2) UTCTAD B2C e-commerce index value. A sample of 83 countries was tested in this study. Several control variables at national level are included in our regression model. We find that these two cultural dimensions have an effect on the readiness of B2C e-commerce in various ways. We find that countries with high individualism score have high index value of B2C e-commerce development. We discuss the implications of these findings for B2C e-commerce developing strategies. We then call for designing relative policies with full consideration on national culture to promote the development of B2C e-commerce. In addition, we identify the limitations of the study and propose recommendations for future research. This study is the first one to use UNCTAD data on B2C e-commerce to explore the relationships between two dimensions of Hofstede's national culture and the readiness of B2C e-commerce and adds to the knowledge of literature in this research field.

A family business is a company where most of its capital and the management position is owned by family members (clan). The leader plays an important role in defining an organization, thus influencing the organization's success. A leader who has a leadership style based on family (clan) relation has the facilitator's role when conflict appears within the organization. This research aims to find the impact of the democratic leadership model on a family business that adopts the clan cultural organization. The independent variable of this research is the democratic leadership model. Meanwhile, the dependent variable is the clan culture within the organization. This research uses a quantitative method with a descriptive and causality type of research. This research population is PT Global Avionika Indonesia staff, where the data was acquired by distributing questionnaires using a saturated sampling technique. The finding in this research shows a positive and significant impact of the democratic leadership model on the clan culture within the organization PT Global Avionika. The determination test also points out that democratic leadership models affect 19.8 percent of the clan culture within the organization, and the rest of 80.2 percent were affected by other factors that were not covered in this research.

The relationship between capital structure policy and firm value is interesting to study because the concept of capital structure was initiated by Modigliani and Miller who claimed that the company's capital structure is not a factor in its value. They asserted that linking leverage with firm value was irrelevant. Therefore, this study examined the role of growth opportunities as a moderating variable for the relationship between capital structure and firm value. The population of this study is 300 companies from the manufacturing sector that are listed on the Indonesia Stock Exchange (IDX) for the period 2015-2018. To analyze the data, the subgroup moderation method was employed by dividing the data into two parts: companies with high growth opportunities and companies with low growth opportunities. The results revealed that capital structure had a direct positive effect on firm value. Furthermore, the test results of the two regression models of growth opportunities as the moderating variable are very interesting. It was found that for companies with high growth opportunities, the use of debt had a negative effect on firm value, and conversely, the use of debt had a positive effect on firm value for companies with low growth opportunities. The statistical F-test results proved that growth opportunities are a moderating variable for the relationship between capital structure and firm value.

In Vietnam, tax compliance has become an important goal in the tax reform strategy. In the context of technology 4.0, the application of the electronic tax system is of great significance to small- and medium-sized enterprises (SMEs). The paper explores factors influencing electronic tax compliance of SMEs in Vietnam. Data from 402 SMEs, who are business taxpayers, was selected through a researcher-designed questionnaire survey method. The results indicate that four groups of factors have significant effects on electronic tax compliance among Vietnamese SMEs. These groups include Taxpayer Awareness (TA), Perceived Ease of use (PTE), Vietnamese tax administration (VTA,) and Efficiency of Vietnamese tax policy (VTP). The factor analysis was adopted; Cronbach's alpha coefficients were calculated, exploratory factor analysis (EFA) was used. The findings found that among these four groups, the most influencing factor is taxpayer awareness. It is suggested that the Vietnamese government should pay attention to promote and support SMEs to raise full awareness of tax obligations. This could be done through various methods such as conducting workshops for updating tax policies and short courses to business taxpayers of electronic tax compliance. The study is expected to provide some important implications for policy-makers and practitioners in tax policy reform in Vietnam.

This paper examines the effect of the interest rate set by Bank Indonesia on financial system stability as measured by the credit gap in Indonesia for quarterly data for the period 1976 Q1 to 2019 Q4. We suppose that the relationship between the Central Bank rate and the credit gap is non-linear. Hence, this study applies a smooth transition regression (STR) model to investigate the relationship between these variables. Our results are: first, by performing STR estimation we obtained a threshold level of Central Bank rate of 2.01. Second, a decrease in the Central Bank rate results in a reduction in the credit gap when the Central Bank rate is above or below the threshold level. The effect of the Central Bank rate is five times greater for the high regime than for the low regime. Third, we find evidence that the effect of the exchange rate, economic growth, inflation, and GDP per capita on the credit gap for the high regime is the opposite of the low regime. We suggest that policymakers need to keep the Central Bank interest rate low and stable so that the role of the bank as a financial intermediary remains stable and conducive to strengthening financial stability.

This study aims to evaluate the relationship between bank capital, efficiency, and risk in Islamic banks. We use data from 129 Islamic banks in the world, retrieved from various data sources. We retrieved specific banking data from Moody's Analytics BankFocus and Thomson Reuters Eikon, while data at the country level was obtained from the World Bank website. This study uses various estimates both Pooled OLS (Ordinary Least Square) and Random Effect (RE). However, to overcome the issue of serial correlation which could cause bias in the results of the study, we used fixed-effect (FE) cluster estimates. The research results confirm the previous findings that bank capital positively affects bank stability (natural logarithm of Z-Score) and negatively affects credit risk (loan loss provision to total liabilities). The findings also show that efficiency has the same effect. The interaction test of bank capital and efficiency shows that efficiency encourages banks to reduce risk, including when bank capital is relatively lower. This finding is expected to have implications for the authorities to boost bank efficiency in addition to establishing several regulations related to capital. The efficiency implemented by the bank will encourage banks to act prudently so that the bank can maintain its performance through risk mitigation.

The main objective of this study is to examine the government ownership effect on the United Arab Emirates (UAE) firm's corporate social responsibility (CSR). Government ownership is assumed to affect the CSR either directly or indirectly. That is by moderating the association between corporate governance and CSR. Publicly listed companies on the UAE capital markets (Abu Dhabi and Dubai) from 2010-2013 constituted the study sample. Panel data regression analyses and random effect model is used to examine the effects of board size, board independence, and audit committee characteristics on CSR. Government ownership is used as a moderator variable. The result showed that the existence of government ownership has a moderator effect on the association between corporate governance mechanisms and the CSR. Precisely, the research revealed that the audit committee characteristics become more effective in improving the firm's CSR when the government owns shares in the organization. The main contribution of this study is to examine how firm ownership structure influences good corporate governance and CSR in the UAE. The study contributes to the CSR literature by merging between the existence of governmental ownership and the power to enforce the implementation of corporate governance in an emerging country.

This study aims to document empirically the mediating role of corporate social responsibility (CSR) on the influence of competitive pressure toward business performance on the batik industry in Central Java, Indonesia. This study also examined the effect of competitive pressure and CSR on business performance of small- and medium-sized enterprises (SMEs) in the batik industry in Central Java. This study used an explanatory quantitative approach. Samples of 254 MSEs in the batik industry have been successfully collected. Hypothesis testing uses SEM-PLS. The results of this study indicate that competitive pressure has a positive and significant effect on the batik MSEs business performance in Central Java. Competitive pressure also has positive direct effect on corporate social responsibility, and CSR has a significant and positive direct effect on business performance. The results of this study have successfully documented empirically that CSR has a mediating role on the relationship of competitive pressure toward business performance in the batik MSEs in Central Java, Indonesia. This study provides a comprehensive understanding of the owners of the batik MSMEs in coping with competitive pressure by using CSR as a strategy to create uniqueness that is difficult to imitate and can create an organizational reputation that eventually can increase business performance.

The purpose of this study is to investigate the impact of internal control on credit risk of joint stock commercial banks in Vietnam from 2007 to 2018. Furthermore, we specify bank-specific characteristics and macroeconomic conditions, and analyze how these factors affect credit risk of banks: the number of board members, the number of board members with banking or finance background as ratio of total board members, loans to total assets ratio, loans to deposit ratio, the number of days between the year-end and the publication of the financial statements, and the use of top four auditing firms proxy for five elements of internal control. By using the dataset of 30 Vietnamese joint stock commercial banks and Bayesian linear regression via Random-walk Metropolis Hastings algorithm, the results of this study show that five elements of internal control have a impact on bank credit risk, namely, control environment, risk assessment, control activities, information and communication, and monitoring activities. For factors of banks' characteristics, bank size and financial leverage have a negative impact on banks' credit risk, and bank age has a positive effect. For macroeconomic factors, inflation has a positive impact and economic growth has a negative impact on banks' credit risk.

The purpose of this study is to descriptively reveal the demographic and business profile and personal-entrepreneurial characteristics in Manado, the capital of North Sulawesi, and secondly to associate these profiles and characters to their business progress. A sample size of 21 respondents was drawn - selected from those who warmly welcomed the interviewers for an open-ended structured questionnaire. SPSS 24 has been employed to descriptively reveal the sample distribution according to demographic factors and business entities and to determine the dominant factors affecting the progress of the business by testing the hypothesis on the association of variables under study using specified statistical analytical tools, such as regression analysis, especially stepwise regression formula, between specified dependent variables and independent variables and /or between all variables. The stepwise regression analysis has enabled the researcher to determine which variables are the most important reflecting the personal characteristics theorized as "locus of control": self-efficacy, needs for achievement, personal traits, and barriers to business progress The analysis reveals that the progress of business does have an association and is dependent on the source of capital and education, needs for achievement and locus of control.

The United Nations' Millennium Development Goals (MDG) has become a goal to create a sustainable life. The MDGs' target was to be achieved in 2015, but it missed that date. The MDGs' target has turned into a Sustainable Development Goals (SDGs) to be achieved by 2030 The SDGs require financial support from companies. Funds are one of the resources to implement the SDGs. Government and private companies need to cooperate in achieving the SDGs target. The company has a responsibility to implement corporate social responsibility. The company's corporate social responsibility is part of the implementation of sustainable development in the SDGs. One of the essential industries that have responsibility for SDGs is the financial industry. This study aims to examine the determinant of corporate social responsibility funds in financial institutions in ASEAN countries. This study uses panel data to test the determinant variables on CSF provision. This study uses 45 sustainable development reports from 2015-2019. The total number of banks in the sample came from three countries, namely, Indonesia, Malaysia, and Thailand. This study concludes that firm size, profitability, efficiency, and the age of the CEO are variables that influence the size of corporate social responsibility funds.

This study examines the factors that influence the actual usage of mobile shopping applications among Generation Y (Gen Y) users in Thailand, determined by behavioral intention, compatibility, perceived cost, perceived ease-of-use, perceived usefulness, perceived risk, and personal innovativeness. The researcher carried out the analysis based on a quantitative approach and used a non-probability sampling as the convenience sampling tool. A total of 502 Gen Y respondents who experienced using the top-four ranking mobile shopping applications in Thailand were invited to participate in the study. The Structural Equation Model (SEM) and Confirmatory Factor Analysis (CFA) were used to analyze the model fit, reliability, and validity of the variables. The primary result revealed that perceived usefulness has the strongest positive significant effect on behavioral intention, followed by personal innovativeness and compatibility. Conversely, the perceived cost has a significant negative influence on behavioral intention. Besides, perceived ease-of-use has a significant positive effect on perceived usefulness. The direct relationship between perceived usefulness and behavioral intention is, however, insignificant. Similarly, the result showed no effect of perceived risk towards behavioral intention. Finally, the result also revealed that behavioral intention determined the actual usage of mobile shopping applications of Gen Y users in Thailand.

The study investigates some psychological and environmental factors affecting the intention to purchase organic foods of consumers in the inner-city of Hanoi. Impact factors applied for the study include three psychological factors (health concern, environmental concern, consumer awareness of organic foods) and seven environment factors (family's opinion, friends and colleagues' opinion, influence of celebrities, expert's opinion, social status, mass media, state's encouragement). We analyzed research data from 396 consumers to measure the impacting level of these factors. The convenient sampling method was used to collect the research sample. The measurement applied a 5-point Likert scale classifying from 1-completely disagree to 5-completely agree. Based on previous studies, the research model was recommended. We had estimated the reliability of the scales through Cronbach's Alpha and composite reliability. The research data is analyzed by using Structural Equation Model method (SEM). The findings of the study suggest that psychological factors (health concern, environmental concern, consumer awareness of organic foods) had a significantly positive influence on consumer's purchase attention toward organic food. The results also revealed that environmental factors (family's opinion, friends and colleagues' opinion, influence of celebrities, expert's opinion, mass media) were positively linked to consumer's purchase attention toward organic food.

Small and Medium Enterprises (SMEs) is one of several activators that drives the economy of Indonesia because SMEs provide jobs, increase Gross Domestic Product (GDP), and assure the delivery of products and services. However, Indonesian SMEs are not very competitive in the industrial world, and one of the causes is the low quality of products that undermine customer satisfaction. There are several factors presumed as influencing customer satisfaction, which among others include product knowledge, service quality, and competitive advantage. The objective of this research is to reveal the contribution of product knowledge and service quality to customer satisfaction with competitive advantage as the mediation variable. This research used a quantitative approach. The causal relationship across variables was examined with Structural Equation Modeling-Partial Least Squares (SEM-PLS). The sample of this research involved 140 respondents. Data was collected through a questionnaire and the items in the questionnaire were processed with a software called SmartPLS version 3.3.2. Results of this research indicate (1) product knowledge and service quality can increase competitive advantage and customer satisfaction in East Java SMEs; (2) competitive advantage can act as a mediator in the effect of service quality on customer satisfaction (3) product knowledge can increase customer satisfaction but the increase is not significant statistically.

The purpose of this research is to investigate the factors affecting Thai commercial bank users' behavioral intention towards QR code payment system via mobile banking applications. The researchers conducted the study based on quantitative research approach. Non-probability sampling method such as the quota and convenience sampling was applied as sampling technique. A self-administered questionnaire was distributed. The data was collected from 1,800 respondents living in Bangkok, who have had an experience with QR code payment system with the top-three mobile banking applications in Thailand. This study concentrates on confirmatory factor analysis and structural equation modeling as a statistical tool to examine the data, model accuracy, and influence of critical variables. In addition, the researchers applied the first-order and second-order techniques to examine the relationship between constructs. Adoption readiness and perceived risk were second-order constructs. The results reveled that compatibility has an impact on attitude towards QR code payment. Moreover, adoption readiness, compatibility, attitude, and personal innovativeness are statistically significant that impact behavioral intention towards QR code payment. The strongest antecedents of behavioral intention were compatibility, attitude, adoption readiness, and personal innovativeness, respectively. Surprisingly, perceived risk and perceived trust do not statistically have a significant impact on behavioral intention towards QR code payment.

The paper aims to explain the influence of celebrity endorser on consumers' purchase intention, and explain the influence of brand perception on purchase decision in regard to the case of OPPO F-series and singer Son Tung MTP, in the Vietnamese context. Advertisement is regarded as the fastest and most effective communication method for brands to build an association and attract their target consumers. Among various types of communication tools, the use of celebrity endorsement is considerably growing owing to the explosion of social platforms. This study employs survey data from 258 people living and working in Ho Chi Minh City, Vietnam. Then, those data were used to analyze the general hypotheses by conducting research reviews based on foregoing investigations. The results from data analysis reveal that celebrity's physical attractiveness, credibility, popularity, expertise, match-up, and multiple endorsements all have positive impacts on purchase intention. The findings from this study would suggest that brands, in general, and smart-phone brands, in particular, should not only focus on these attributes to select a suitable brand endorser, but also need to predict some potential risks when utilizing celebrity endorsement. Finally, various implications and recommendations for further studies and marketers are also discussed.

This study aims to examine the impact of service recovery in building customer loyalty through the mediating role of customer satisfaction and corporate image. This study also aims to examine the reciprocal relationship between customer satisfaction and corporate image in building customer loyalty. This study uses data from 126 consumers who have received recovery for a service failure in five logistics companies which operates in Southeast Sulawesi in Indonesia, namely; JNEs; J&T Express; Pandu Logistics; MEC; and TiKi. Data was collected using a questionnaire which was then distributed to all respondents via google form. The distribution of respondents at each logistics company provider was as follows: 19 respondents were customers of JNEs; 17 respondents were customers of J&T Express; 32 respondents were customers of Pandu Logistics; 21 respondents were customers of MEC; and 37 respondents were customers of TiKi's. The structural model developed in this study was tested using Partial Least Squared (PLS) method. The research found that service recovery has a direct effect on customer satisfaction and corporate image as positive and significant. Customer satisfaction and corporate image have a reciprocal relationship which then roles in building customer loyalty. Service recovery has an indirect effect on customer loyalty through the mediating role of customer satisfaction and corporate image.

This study aims to examine the factors that affect customer satisfaction and repurchase intention of online shoppers in Vietnam. We used the anklet method to collect information by sending the online questionnaire to Vietnamese people via social media like Facebook, Zalo, and instructed participants to fill out the survey. This study collected data randomly from 597 Vietnamese individuals who have experienced online shopping. Applying both qualitative and quantitative methods, we investigated the impacts of factors (responsiveness, trust, convenience, delivery, information quality and perceived website usability) on customer satisfaction and repurchase intention. The results revealed that: (1) Information quality, delivery, convenience, and perceived website usability have the most significant impacts on customer satisfaction and intention, (2) Trust moderately affects satisfaction and repurchase intention, (3) Responsiveness has no significant influence on repurchase intention and (4) Control variables, included gender and marital status also impacted satisfaction and repurchase intention because the study found that male customers are more satisfied than female customers and single people tend to repurchase at familiar websites more than the other people. The findings suggested that six mentioned factors have different levels of impacts on customer satisfaction and repurchase intention; moreover, the demographic factors also affect satisfaction and intention to repurchase.

While green packaging related concerns are mainly studied in developed countries, there is a lack of knowledge to observe purchase behavior toward green packaging in developing countries, especially in Vietnam. Buying green packaged products in FMCG is not required to trade-off between sustainability and product performance. Hence, this present research aims to understand the gap attitude - behavior existing on FMCG green packaged products among Vietnamese young consumers with psychosocial factors (environmental concern, environmental knowledge of green packaging and green trust) and contextual factors (availability of desired green packaging and product attributes). With a sample size of 396 respondents, data was collected by convenient sampling method and then was analyzed using structural equation modeling. The results reveal that all psychosocial factors are positive related to attitudes while purchase behavior is positively influenced. The findings also report that contextual factors have positive impacts on purchase behavior, which proves the important role of contextual factors in influencing consumer choices. It suggests that green packaging is receptive to Vietnamese young consumers but it should be considered within product-related context to enhance the difference in sustainability among similar FMCG products. Practical implications for marketers and future researches have also been discussed at the end of study.

This study aims to redesign and find out the role of Islamic work ethics in influencing Islamic motivation, affective commitment, job satisfaction, and employee performance. Respondents in this study are populations of various cross-sectoral and cross-profession employees, such as government and private workers, soldiers, educators (teachers and lecturers) in various offices in Central Java. 220 questionnaires were distributed to all respondents, but the number of the returned questionnaires was 200. Thus, totally, this study analyzed 200 questionnaires. Data are analyzed using Structural Equation Modelling (SEM). The results show that the eight hypotheses are accepted: there is a positive and significant influence of Islamic work ethics on Islamic motivation; there is a positive and significant effect of Islamic work ethics on job satisfaction; there is a positive and significant effect of Islamic work on affective commitment; there is a positive and significant influence of Islamic motivation on affective commitment; there is a positive and significant influence of Islamic motivation on job satisfaction; there is a positive and significant effect of job satisfaction on employee performance; there is a positive and significant effect of affective commitment on employee performance; there is a positive and significant influence of Islamic motivation on employee performance.

Productive human resources are important assets for companies in facing the global economic competition. The purpose of this study is to examine the effect of economic attitudes toward employees' job satisfaction as well as understanding the impact of economic attitudes toward employee productive behavior at "Sentra Tenun Ikat" in East Java. The research method applied in this study is quantitative research with an explanatory design, which is intended to gain a better understanding of the relationship between variables. The population in this study amounted to 394 participants from SMEs and joint business groups. Meanwhile, the sample was 197 people and collected using a proportional random sampling technique. The variable measurement was carried out by a questionnaire distributed to respondents, which consisted of thirty-five closed questions. Each question item provides five alternative answers. Furthermore, it is calculated using Structural Equation Modeling (SEM) undergoing the LISREL 8.80 program. The findings indicated that there was a positive influence of economic attitudes on employees' job satisfaction. Indeed, the positive value coefficient indicates that there is an effect that is directly proportional to economic attitudes toward employees' productive behavior through employee performance satisfaction, namely, the better the economic attitude taken, the higher the productive behavior of employees.

Constructed upon Knowledge Management (KM) processes, the current study aims to investigate the interrelationship between Knowledge Sharing (KS) attitude among the faculty members and KM processes in higher education institutes (HEIs) in Pakistan along with the intervening role of subjective norms between KM processes and KS attitude. This research incorporated the theory of Planned Behavior (TPB) and the theory of Reasoned Action (TRA) to conceptualize the KS behavior by using a sample frame of 302 academic and administrative staff from research-based HEIs in Quetta, Pakistan. A questionnaire-based survey was conducted on permanent faculty members from different universities of Quetta, Pakistan. The finding of the study shows a positive attitude among the researchers. The study empirically examined the interface between KM processes and KS attitude and higher education performance while providing valuable insights into the prevailing literature by investigating the mediating role of subject norms. The impact of subjective norms on KS attitude and KM process indicates the importance and basic determinant in organizational premises and improvement of skills of faculty management in HEIs. The partial mediation also reveals the importance of subjective norms in the development of faculty members' KM and KS attitude process.

The purpose of this research is to analyze the influence of job enrichment and empowerment on organizational commitment. In addition, the role of work motivation and job satisfaction in mediating the influence of job enrichment and employee empowerment on organizational commitment has also been examined in this study. The sample population consists of all the employees in the regional office of DJKN Bali and Nusa Tenggara, who hold executive positions and have served the office for ≥ 4 years. This study adopts the second-order Partial Least Square (PLS) model and the Smart PLS Version 3.0 program which is used as the analysis tool. The results revealed that: job enrichment has a significant influence on organizational commitment; employee empowerment has an insignificant influence on organizational commitment; work motivation and job satisfaction partially mediate the influence of job enrichment on organizational commitment; work motivation and job satisfaction fully mediate the influence of employee empowerment on organizational commitment. The findings can be used as organizational considerations in developing policies related to job enrichment and employee empowerment, which is expected to motivate and provide satisfaction for employees and improve their organizational commitment.

Employee engagement plays an important role in the development as well as the success of a company. The manner in which employees are committed to their work and be more innovative seems to drive people's curiosity. This study aims to analyze the impacts of job demands-resources, personal resources, and coworker support on work engagement. Also, whether there is a relationship between work engagement and creativity of employees is tested through this research. The data served for the research was collected in the context of Vietnamese small- and medium-sized enterprises (SMEs). The authors used structural equation modeling (SEM) (software Smart PLS), to test the proposed hypotheses by using the data of 602 employees. Results of the study point out that proposed antecedents influence work engagement and creativity. Such findings have shed light on both theory and practice implications. In theory, it supports the social exchange theory and the job demands and resources model. In practice, leaders should assist subordinates in various aspects and build and promote a corporate culture where employees help others with great enthusiasm to increase the level of work engagement and spirit of innovation of employees.

The improvement of the performance of savings and loan cooperatives in Indonesia is a challenge in the digital era. The purpose of this research is to find how big the role of psychological climate is in mediating the relationship between leadership and organizational commitment. This study hopes to confirm the influence of leadership and psychological climate on organizational commitment and examines the psychological climate intervention (mediation) on the relationship between leadership and organizational commitment of the cooperatives. The population of this research is all members of the cooperative in Bali. This study uses a saturated sampling method to determine the sample. Data collection was carried out through questionnaires and data analysis using PLS. The results showed that in the digital era, leadership has a positive effect on organizational commitment, psychological climate, and in the end, will provide positive organizational commitment. Psychological Climate mediation answers the question that the impact of leadership and commitment will continue to exist and perform in an era of disruption. Culture is important in an organization; some areas such as Bali have a thick local culture. Perhaps future research should be improved on local culture and leadership transformation.

The purpose of this study is to explore and empirically analyze the factors affecting transparency and public accountability in local government, which have not been sufficiently researched in terms of human resource management, and good governance implementation. In particular, this study intends to examine human resource management activities focusing on the government effectiveness dimension. This study uses a qualitative approach and phenomenological method to examine the phenomenon of participant experience along with documents that are in the setting under study. Participants consisted of nine people from the Regional Government Work Unit of Tasikmalaya City, the private sector, and the community. The researcher divided data analysis into three sub-indicators, including effectiveness and efficiency, responsiveness, and public service. The Results show Regional Financial and Asset Management Agency (BPKAD) of Tasikmalaya City as sufficient in terms of human resources, this can be verified from the number of leaders and staff, which amounts to 58 people, of which 80% are economic graduates. Although the quantity is adequate, the quality of human resources in BPKAD in Tasikmalaya City is still weak. In Conclusion of this study it is inferred that the application of the government effectiveness dimension in BPKAD Tasikmalaya City is not optimal and need adequate training to improve employee performance in financial management.