Finance and Financial Management Commons^™

Operating Costs, Liquidity, And Demographic Pressures In Tanzania's Reformed Public Pension System (2004–2024), Athumani S. Mbuttuka, Ellinami J. Minja, Siasa I. Mzenzi

Business Management Review

The efficiency of public pension systems is critical for accumulating old-age savings and reducing fiscal pressures. This study evaluated Tanzania’s reformed public pension system from 2004 to 2024, covering pre- and post-merger periods, using longitudinal financial data and benchmarking indicators, including cost-to-contribution, cost-to-asset, payout, and dependency ratios, against regulatory and OECD levels. One-tailed sample t-tests compared efficiency and sustainability metrics against benchmarks. Findings show that operating costs averaged 2.8% of assets and administrative cost-to-contribution averaged 11.8%, exceeding the OECD average of 1.6% and the regulatory ceiling of 10%, respectively. Although operating-cost ratios declined after the 2018 restructuring, costs generally remained …

The Efficient Market Hypothesis In Youth Entrepreneurship: Understanding, Application, And Contextual Factors — A Systematic Literature Review, Omari Khalifa Mbura Prof,, Binto M. Binto

Business Management Review

This systematic literature review explores how youth entrepreneurs understand and apply the Efficient Market Hypothesis (EMH) in their decision-making, and examines the contextual factors influencing the decision-making nexus. Guided by a post-positivist framework, the review synthesises extant literature across youth entrepreneurship, finance, and digital strategy to map emerging themes and identify knowledge gaps. It covered a sample of 38 peer-reviewed articles, selected in accordance with the PRISMA guidelines. Findings of the systematic literature review show that youth entrepreneurs' engagement with EMH is largely experiential and indirect, influenced by digital literacy, social learning, and the realities of rapidly changing market environments. …

Interpretive Flexibility And The Social Construction Of Generative Ai In Education: A Scot Analysis, Elham Mousavidin, Sujin K. Horwitz

Southwestern Business Administration Journal

The rapid rise of generative artificial intelligence (GenAI) tools has intensified discussions about their role in education. This study uses the Social Construction of Technology (SCOT) framework to explore how educational stakeholders interpret GenAI and how these interpretations influence its development and adoption. Through an interpretive literature review of research published between 2021 and 2025, we examine stakeholder perspectives using SCOT constructs, including relevant social groups, interpretive flexibility, technological frames, and controversies. Results identify three main interpretive tensions shaping current debates: transformational force versus transactional tool, cognitive augmentation versus cognitive atrophy, and digital empowerment versus digital enslavement. These tensions show …

People Orientation And Thing Orientation In Business Majors: Implications For Assessing The Impacts Of Cross-Functional Business Program Curricula, Todd J. Hostager, David A. Christopher, Kristy J. Lauver, Christopher Knowles

International Journal for Business Education

Background/Introduction/Purpose:  Prior research documented significant differences in people orientation and thing orientation (PTO) based on type of major and sex.  This study examines a set of measures for helping business programs to assess whether they are producing graduates equipped to consider both people and things when making decisions, regardless of their major or sex.

Methods/Design:  Students in a strategic management capstone course spent a single 75-minute session responding to a brief new venture pitch by identifying what types of additional information they would need to decide whether to invest in the business.  Three Likert-scaled options gauged the extent to participant …

"Why Do Students Save Less?" A Study Of The Determinants Of Saving Intentions And Behaviours Among Undergraduate Students, Rna Hamza Ahmed Eissa, Chi Hau Tan, Ben Hou

International Journal of Management, Finance and Accounting

Despite the issue of low savings being a serious concern, limited research has been conducted on students’ saving behaviour in Malaysia, especially when it comes to private universities. This research focuses on examining factors that affect saving behaviour among undergraduate students at a private university in Malaysia, in reference to the Theory of Planned Behaviour. A mixed-method design was applied. Quantitative research was conducted, in which 122 valid responses were collected via an online survey and analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM). In addition, qualitative research with 11 respondents was conducted, and the data were analysed using …

Scrolling, Following, Deciding: The Hidden Power Of Digital Influence On Wise Financial Decision, Nur Fatihah Muhamad Irwan, Wan Rasyidah Wan Nawang

International Journal of Management, Finance and Accounting

The effect of social media and digital influencers on financial behaviours has been well documented, but there is yet any solid evidence of their role in driving wise financial decision-making among Malaysians in particular. This study hence sets out to examine the impact of social media engagement and parasocial interaction in shaping financial attitudes, and the influence of financial attitude, subjective norms, and perceived behavioural control on the intention to practice wise financial decision-making. The mediating role of financial attitude was also studied, specifically in the link between social media engagement, parasocial interaction, and intention. A total of 250 Malaysian …

Impact Of Environmental, Social, And Governance (Esg) Practices On The Stability And Profitability Of Financial Institutions In Malaysia, Sharifah Najihah Syed Ishar, Sharifah Fairuz Syed Mohamad, Nurul Sima Mohamad Shariff, Mazlynda Md Yusuf

International Journal of Management, Finance and Accounting

This study examines how Environmental, Social, and Governance (ESG) activities affect the stability and profitability of Malaysian financial institutions, in light of the country's growing emphasis on sustainable finance. Using annual data from 2014 to 2024, the study focuses on three main objectives: assessing whether stronger ESG practices enhance financial stability, identifying the most influential ESG pillar among environmental, social, and governance components, and evaluating whether ESG performance affects profitability. This study employs random-effects panel regression with robust standard errors, yielding empirical evidence relevant to Malaysia’s dual banking landscape. The results show that stronger ESG performance raises the stability of …

Knowledge Spillovers, Related And Supporting Industries, And Government Intervention: An Integrated Framework For Cluster-Driven Corporate Innovation, Qinying Lei, Lai-Ying Leong, Annie Cheng San, Ng

International Journal of Management, Finance and Accounting

Late-developing inland clusters face a notable innovation paradox, in which substantial industrial capacity coexists with weak firm-level innovation. Existing research identifies knowledge spillovers, related and supporting industries, and government intervention as major external drivers of innovation, but pays limited attention to how these external conditions are transformed into corporate innovation capability. Drawing on Regional Innovation System Theory, Dynamic Capability Theory, and Porter’s Diamond Model, this study develops an integrated framework comprising seven propositions on direct effects, mediated pathways, and contextual variation. It proposes that cluster performance, defined as the effectiveness of cross-organisational coordination, mediates the relationship between external cluster conditions …

Pricing Under Pressure: Cost Volatility, Customer Affordability And Value Perception In Micro And Small Food Businesses, Fadhlur Rahim Azmi, Nursyahwani Mohd Sukri, Maciej Woźniak, Haslinda Musa

International Journal of Management, Finance and Accounting

This study examines how micro and small food businesses make pricing decisions under cost volatility, customer affordability pressure, and value perception constraints. Drawing on semi-structured interview evidence from 12 Malaysian micro and small food and beverage businesses, this study adopts an interpretive qualitative multiple-case design. The data were analysed using thematic analysis and cross-case comparison, with dynamic capabilities as an interpretive lens. The findings show that pricing is not a simple cost-plus calculation or the application of a single pricing method. Instead, micro and small food businesses practice adaptive hybrid pricing by combining cost awareness, competitor reference, affordability judgment, value …

Does Realised Range Volatility Improve Multivariate Volatility Forecasting? Evidence From Bursa Malaysia Sectors, Mariam Mohamed Abdelwahab Mohamed Badawi, Sew Lai Ng, Ruzanna Ab Razak, Shaikh Fazlur Rahman

International Journal of Management, Finance and Accounting

This study examines whether realised range volatility improves multivariate volatility forecasting performance in an emerging equity market setting. A comparison between vector heterogeneous autoregressive models constructed with realised volatility, realised range volatility, and conventional return-based volatility measures is conducted using sectoral data from the Bursa Malaysia. High-frequency data from September 2018 to December 2024 were collected from the financial data provider Bloomberg. The analysis evaluates out-of-sample forecasting accuracy using a set of 5 loss functions, including symmetric (MSE and MAE) and asymmetric (QLIKE) criteria. The outcomes provide compelling and strong evidence that realised range volatility measures deliver superior forecasting performance …

Debt Financing Cost And Green Innovation: The Conditioning Role Of Financing Dependence Structure In Chinese Manufacturing Firms, Hongzhuo Chen, Mohd Faizal Basri, Hazianti Abdul Halim

International Journal of Management, Finance and Accounting

Debt-financing costs are generally considered to be restrictive for corporate innovation; however, their role in green innovation may be conditional rather than uniformly negative. Based on a sample of A-share listed companies from 2012 to 2023, this study examines whether this cost is related to green patenting and, more importantly, how this relationship varies with firms’ financing dependence structure. Green innovation can be reflected in the scale of total green patent applications and the depth of green invention applications. Based on the estimates, both indicators are positively correlated with the cost of debt, and the impact is relatively stronger for …

Understanding Trust As A Mediating Mechanism In Ai-Based Medical Tools And Clinical Decision Processes, Shanthi Isparan, Seow Ai Na, Chang Jing Jing, Hew Jun Jie

International Journal of Management, Finance and Accounting

The growing integration of artificial intelligence (AI) in healthcare has transformed clinical decision-making. Nevertheless, doctors’ engagement with AI-based tools remains hindered, particularly due to trust-related concerns. The purpose of this study is to examine the factors influencing doctors’ engagement with AI-based medical tools, with a focus on the mediating role of trust within the Unified Theory of Acceptance and Use of Technology (UTAUT). Data were collected from 197 doctors in Selangor and Kuala Lumpur through a structured survey and analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM) with SmartPLS 4 software. The findings reveal that performance expectancy, effort expectancy, …

A Systematic Review Of Factors Influencing The Adoption Of Artificial Intelligence For Training And Development In The Nigerian Banking Sector, Adekanye Fareedah Oyelola, Arnifa Asmawi, Rathimala Kannan

International Journal of Management, Finance and Accounting

Artificial intelligence (AI) is revolutionising human resource management through automation, data-driven decisions, personalised learning, and improved skills-gap detection. Nevertheless, AI adoption in training and development (T&D) programs in the Nigerian banking sector remains low. Therefore, this situation has become a barrier to the development of human capital and to digital transformation. This systematic literature review aims to identify the factors influencing AI adoption in T&D within Nigerian banks and then to analyse the interrelationship among the constructs. This review also examines the mediating role of T&D-AI Fit between influencing factors and AI adoption in T&D. The study uses the Task–Technology …

Impact Of Enterprise Risk Management On Firm Performance And Value: A Panel Data Analysis Of Malaysian Firms, Zhi Beng Chew, Krishnen Kishan, Wei Chien Ng, Yu Qing Soong

International Journal of Management, Finance and Accounting

This study investigates the impact of enterprise risk management (ERM) implementation on firm performance and firm value among Malaysian listed companies from 2010 to 2024. Empirical evidence on ERM outcomes in the Malaysian context remains limited, particularly regarding studies that simultaneously examine financial performance and firm valuation. By jointly analyzing these measures, the study seeks to determine which performance dimension is more significantly influenced by ERM and whether Malaysian investors incorporate risk management practices into firm valuation assessments. The analysis covers 11,285 firm-year observations, using a comprehensive ERM index based on the COSO ERM framework and a fixed-effects panel regression …

Analysis Of The Determinants Of Buy-Now-Pay-Later Payment Mode Among Malaysians In Klang Valley, Wai Zhi Tay, Chi Hau Tan

International Journal of Management, Finance and Accounting

The Buy Now, Pay Later (BNPL) service has become increasingly popular in Malaysia in recent years, especially in the Klang Valley. The BNPL service offers consumers a more convenient payment method and access to credit, raising concerns about increased household debt and financial vulnerability. In this study, this paper used financial literacy, perceived risk, credit attitude, and economic vulnerability to examine which factors influence the intention to use the BNPL payment mode. The Theory of Planned Behaviour (TPB) is used to explain the factors influencing consumers’ intention to use BNPL services. This study adopts a quantitative research design and collects …

Dividend Yield Modelling And Forecasting Under The Wilkie Investment Model With Inflation Effects: Evidence From Malaysia, Ilya Adlina Abd Halim, Norizarina Ishak, Siti Raihana Hamzah, Ahmad Fadly Nurullah Rasedee

International Journal of Management, Finance and Accounting

This study uses the Wilkie Investment Model in the context of the Malaysian stock exchange, incorporating inflation as a significant factor in explaining investment behavior in line with local economic conditions. Although the Wilkie model is broadly utilised in actuarial science and has been assessed in many developed countries, its use in emerging markets such as Malaysia is still limited. Based on historical data from Malaysia, both the dividend yield and inflation series were revealed to be stationary using the Augmented Dickey-Fuller (ADF) test. Therefore, the series is applicable for time series analysis. The study used Malaysian data to estimate …

From Digital Readiness To Employability: Mediating Role Of Artificial Intelligence Competence And The Moderating Influence Of Policy Support Among Malaysian Graduates, Fraz Arshed Butt, Abdelhak Senadjki, Hui Nee Au Yong

International Journal of Management, Finance and Accounting

The fourth industrial revolution (4IR) emphasises the demand for graduates with both digital readiness and artificial intelligence (AI) skills, which are aligned with labour market demands. Although prior studies link digital skills to employability, empirical evidence is scarce, and there is little research on how digital readiness translates into employment outcomes in AI-driven, particularly developing, economies. Hence, considering AI competence as a mediating mechanism and government policy support as a moderator, this study investigates the effects of digital literacy, technological self-efficacy, and digital learning engagement on graduate employability. Grounded in human capital theory, social cognitive theory, and institutional theory, this …

What Drives Consumers To Use Insurtech Apps? The Role Of Insurance Literacy, Jia Chun Chia, Hui Shan Lee, Bik Kai Sia

International Journal of Management, Finance and Accounting

Although financial technology has spread worldwide, the adoption of InsurTech in Malaysia is still low because of the knowledge-action gap, in which people continue to use traditional agents. This study examines the factors that determine behavioral intention to use InsurTech apps by incorporating the Unified Theory of Acceptance and Use of Technology (UTAUT) and including a novel insurance literacy factor. A cross-sectional quantitative research design was adopted, and 406 valid responses were gathered from 406 Malaysian Generation Z individuals and analyzed using partial least squares structural equation modelling (PLS-SEM). The findings indicate that the model explains 58% of the variance …

Impact Of Green Finance On Environmentally Sustainable Development Goals, Shu Min Loh, Hui Shan Lee, Leong Mow Gooi, Suwen Xie

International Journal of Management, Finance and Accounting

In this context, climate change represents a real phenomenon with significant implications for economies, industries, and societies worldwide. In the context of the Regional Comprehensive Economic Partnership (RCEP) agreement, these implications are significant, given that the countries in question cumulatively account for a considerable share of global emissions, energy consumption, and industrial production. As these countries aim for a carbon-neutral future and continue the path toward the achievement of the Sustainable Development Goals (SDGs) set for 2030, the question for these countries, therefore, is not whether they should act but how they can act in a sustainable manner toward a …

Neo Banking Adoption Among Banking Customers: An Empirical Study Using Pls-Sem, Sree Bhoojitha V, Vishnucharan N S

Journal of Global Management Research

The rapid advancement of financial technology has fundamentally transformed the banking landscape, giving rise to neo banks — fully digital banking platforms operating without physical branches. Despite the growing significance of neo banking in India, customer awareness and adoption remain evolving areas requiring systematic investigation. This study, titled "Study on Neo Banking Adoption by Banking Customers," examines customer awareness, usage patterns, satisfaction levels, and the key factors influencing adoption intention of neo banking services. Grounded in the Technology Acceptance Model (TAM), the study incorporates Perceived Usefulness, Perceived Ease of Use, and Trust as independent variables influencing Neo Banking Adoption Intention. …

Integrating Circular Economy Principles Into Sustainable Supply Chain Management- A Comparative Study Of Agriculture, Healthcare, And Asset Management, Blessy Milca I, Purushothaman R, Mariofanna Milanova

Journal of Global Management Research

Sustainable supply chain management (SSCM) is a vital strategy for reducing environmental impact while improving efficiency. This study examines the integration of circular economy principles into SSCM across agriculture, healthcare, and asset management. Using a comparative approach, it identifies sector-specific challenges and best practices in resource utilization, waste minimization, and closed-loop logistics. Circular strategies—such as resource recovery, product life extension, and sustainable redesign—are explored as pathways to ecological balance and long-term viability. The role of digital technologies is emphasized: IoT enables data-driven decision-making through sensor networks and real-time monitoring, while blockchain provides transparency, traceability, and secure transactions, strengthening trust in …

Financial Viability Of Electric Vehicle Manufacturing Ventures In India: A Mixed-Method Assessment Of Profitability, Liquidity, Capital Structure, Funding And Policy Support, Prabhakar Raju Rudra Raju

Journal of Global Management Research

India's electric-vehicle (EV) transition is creating a rapidly expanding manufacturing opportunity while simultaneously exposing young and scaling firms to unusually high capital requirements, uncertain cash flows, technology risk and policy dependence. This study examines the financial viability of selected Indian EV manufacturing ventures by integrating financial performance evidence with funding, operational and policy perspectives. The analysis covers five firms representing electric two-wheelers, buses and commercial three-wheelers: Ather Energy, Ola Electric, Olectra Greentech, Altigreen and Euler Motors. The study follows the mixed-methods design documented in the underlying project, combining financial-ratio and trend analysis with stakeholder discussions, industry evidence and policy-document analysis. …

Theories, Elements, And Value Creation In Higher Education Under Nep 2020: A Systematic Literature Review Through The Lens Of Educational Technology, Leema Christina J., Alamelu R., Hariharan M., Samar Muti Dr

Journal of Global Management Research

In order to transform Indian higher education system, the National Education Policy (NEP) 2020 gives an innovative approach, which is with a great aim of making Indian education system into a global level. NEP 2020 will bring a major change in educational sector by adopting technology which will make the education as more adaptable and flexible in nature to meet out the needs of the learners. This paper discusses about the learning theories and organizational theories, which are highly relevant to education and taken key identification from the theories. Key elements were discussed in this paper by correlating theories’ key …

Harnessing Artificial Intelligence For Real-Time Innovation In Upstream Oil And Gas: A Data-Driven Framework For Early Detection Of Lost Circulation Incidents, Gnana Allan Whinney Gnanapragasam

Journal of Global Management Research

Artificial intelligence (AI) and machine learning are reshaping upstream oil and gas operations, yet their value depends less on algorithmic sophistication than on converting heterogeneous sensor streams into timely operational decisions. This study develops and evaluates an AI-enabled framework for early detection of lost circulation incidents (LCIs) during drilling, positioning this safety-critical use case within the broader innovation architecture of upstream operations. Uncontrolled drilling-fluid losses generate non-productive time, well-control risk, and substantial cost. The empirical component uses historical surface drilling data from approximately 200 wells that experienced severe or total losses, recorded at an average frequency of 0.2 Hz (one …

Digital Transformation And Adaptive Capacity Of Banks In Tanzania: The Mediating Effect Of Knowledge Sharing, Sospeter Muchunguzi, Ulingeta O. L. Mbamba, Victor G. Wilson

Business Management Review

Amid rising competition and uncertainty, banks are increasingly adopting digital technologies to sustain adaptive capacity and competitiveness. This study examines the mediating effect of knowledge sharing in the influence of digital transformation on adaptive capacity. Drawing on an integrative theoretical framework combining the Dynamic Capability Theory, the Affordance Theory and the Adaptive Structuration Theory, a deductive approach was used, involving a sample size of forty-three (43) banks in Tanzania. Data were collected using a questionnaire administered through a drop-off and pick-up-later method and analyzed with PLS-SEM using SmartPLS software. We found that digital transformation of customer touchpoints makes banks more …

The Influence Of Digital Audit Capability On Tax Compliance In Tanzania, Henry Zeno Chalu, Daudi Deokari Mtena

Business Management Review

The research evaluates the effects of digital audit capacity on tax compliance in Tanzania, focusing on challenges such as tax avoidance and administrative inefficiency. It applies the Task-Technology Fit Theory and Deterrence Theory in tax audit to examine the relationship between digital audit capability and tax compliance. The findings show that digital audit capability has significantly enhanced tax compliance through data integrity, security, and analytical capability. These features minimize misreporting, secure financial information, and build trust while uncovering predictive insights. The current study also has implications for tax policy by highlighting the promise of digital audit capability in enhancing both …

External Mandate And Strategic Imperative: A Necessary And Sufficient Conditions Approach To Environmental Accounting Adoption In Tanzanian Manufacturing Firms, James Moses Dendula, Helena Thomas Haule

Business Management Review

Environmental Accounting (EA) serves as a strategic tool for organisations to integrate environmental considerations into operations, decision-making, and reporting. However, in emerging economies, its adoption remains uneven and insufficiently explained regarding how institutional pressures and internal capabilities jointly shape these practices. This study examines how institutional pressures and firms’ internal capabilities influence Environmental Accounting Practices (EAP) among 146 Tanzanian manufacturing firms. Anchored in Institutional Theory and the Resource-Based View (RBV), the study adopts a complementary analytical approach by integrating sufficiency and necessity logics using Partial Least Squares Structural Equation Modelling (PLS-SEM) and Necessary Condition Analysis (NCA). The PLS-SEM results indicate …

Embeddedness Of Corporate Social Responsibility Practices Of Listed Local Firms In Tanzania: Analysis Of Communication And Organisation Dimensions, Lilian Julius Kishimbo

Business Management Review

This study explores the embeddedness of Corporate Social Responsibility (CSR) practices among listed Tanzanian firms from 2020 to 2024, focusing on both communication and organisational dimensions within a theoretically grounded framework. The study is guided by Institutional and Stakeholder theories, analysing how CSR is integrated into corporate strategies and operational structures, with particular emphasis on variation across banking and finance, telecommunications, manufacturing, extractive, agriculture, and transport industries. Using a mixed-methods approach combining qualitative content analysis of annual reports with organisational indicators, the study draws on 20 firms (95 firms annual reports) to identify significant industry-specific differences in CSR embeddedness, with …

The Influence Of Financial Literacy On The Financial Behavior Of Students In The Higher Learning Institutions In Tanzania, Lisa John Baltazar, Evelyn Mweta Richard

Business Management Review

This study examines how financial literacy influences financial behavior as measured by spending, saving and investment and borrowing behavior of university students. The study was informed by the theory of planned behavior. Explanatory research design was used to test the research hypothesis. Data was collected through using a structure questionnaire which was administered both physically and online.  446 random selected students across Universities in Tanzania participated in the study, and simple linear regression analysis was used to establish the effect of financial literacy on financial behavior.  It was established that majority of the students are considered financially illiterate. However, the …

Unpacking The Nexus Between Financial Inclusion And Tax Compliance In Tanzania, Sarah Senso, Henry Zeno Chalu, Cosmas Renatus Masanja

Business Management Review

The study examined the influence of financial inclusion and tax compliance in Tanzania, focusing on access to financial services, quality of financial services, and usage of financial services. Guided by the positivist philosophy, the study employed a deductive approach utilizing the supply-leading theory and economic deterrence theory as the guiding frameworks. A cross-sectional survey design was employed, and multistage sampling was employed to obtain a sample of 386 bank agents by using a multistage sampling method. The study used primary data that was collected through structured questionnaires, which contained closed-ended questions measured on a 7-point Likert scale, and analyzed data …