Asian Journal of Economics, Business and Accounting
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The Nexus of Digital Infrastructure, Financial Inclusion and Economic Growth in Ghana: A Quantitative Analysis
No full textFinancial inclusion and digital infrastructure are widely recognized as key drivers of economic growth, particularly in developing economies like Ghana. Despite significant advancements in digital infrastructure such as mobile money platform and digital financial services, financial inclusion in Ghana remains uneven, with rural populations and marginalized groups facing limited access to formal financial services. This study examined the relationship between digital infrastructure (MMA), financial inclusion (AMMA), and economic growth (GDP) in Ghana using a Vector Autoregressive (VAR) model, the Vector Error Correction Model (VECM), and Granger causality test with time-series data from 2018 to 2024. Data for the study was obtained from the Bank of Ghana’s (BoG) Database Portal. The results reveal a positive and significant relationship between financial inclusion and economic growth, driven largely by increased mobile money adoption. Similarly, digital infrastructure improvement, particularly the availability of mobile money agents (merchant lines), have contributed to economic growth by improving financial accessibility. The combined impact of financial inclusion and digital infrastructure underscores the importance of a well-integrated financial ecosystem in driving sustainable economic development in the long run. Despite these positive effects, challenges such as financial literacy gaps, digital exclusion in rural areas, and limited access to advanced financial products persist. The study recommends targeted financial literacy programs and expanded digital financial services in underserved areas to maximize the benefits of financial inclusion for Ghana’s long-term economic growth
Agile and Lean Frameworks for Enhancing Accountability and Efficiency in Public Financial Management Systems in Emerging Economies
No full textAim: The study evaluates what Agile and Lean governance strategies can do in public financial systems in emerging economies to improve fiscal accountability, service delivery and budgeting efficiency.
Methodology: A systematic literature review methodology with PRISMA guidelines emphasis on empirical studies and reports, from databases including Scopus, World Bank, and OECD were used.
Findings: This review reveals that Agile and Lean frameworks dramatically improve public financial management by improving fiscal accountability, budgeting efficiency, and service delivery. Drawing on 49 studies published between 2010 and 2025, the majority from emerging economies with selected comparative OECD cases, budgeting and procurement reforms emerged as the dominant sectors analysed. Agile’s iterative and adaptive approach allows governments to make real-time adjustments to budgets, enhancing the economy’s response to economic developments and crises. They focus on reducing waste and financial planning to ensure that public funds are allocated efficiently and effectively. Similarly, Rwanda and Nigeria demonstrate the benefits of using these frameworks. Agile enabled rapid budget adjustments in Rwanda to improve fiscal responsiveness, while Nigeria used Lean principles to streamline procurement and improve resource allocation across local governments. But, the interconnection of these frameworks faces challenges, including institutional resistance, lack of skilled personnel and political constraints, which hinder full adoption in public financial systems. But these barriers highlight the potential for Agile and Lean to create more responsive, transparent, and efficient public financial management systems in developing economies.
Conclusion and Recommendations: Agile and Lean processes would through transparency and efficiency enhance fiscal accountability and service delivery significantly. Governments, by learning from successful implementations, need to prioritise capacity-building and institutional reform that solves adoption barriers to successful implementation in PFM systems
Accelerating Laboratory Construction: Risk-Based Project Planning, Modular Prefabrication, and a Commissioning-First Delivery Framework
No full textThe construction of laboratories is increasingly constrained by the need to deliver safe, compliant facilities rapidly, while also meeting decarbonisation and performance expectations. This scoping review maps peer-reviewed evidence on the acceleration of laboratories and laboratory analogue facilities through risk-based planning, modular prefabrication, and a commissioning-first delivery framework. Using the PCC framework and PRISMA-ScR reporting guidelines, searches of the Scopus and Web of Science databases (2015–2025) produced 461 records, of which 19 empirical studies met the inclusion criteria. The findings coalesced into three pillars of acceleration: (1) digital risk controls (e.g. interface governance, tolerance-aware coordination, and scan-enabled verification), which replace late discovery with early, testable gates; (2) treating modular prefabrication as a production-logistics system that requires early scope selection, interface freezing, and factory quality checks; and (3) commissioning-first readiness, where progress is defined by test outcomes, activation simulations, and operational stabilisation. Across the evidence base, speed gains were primarily achieved by preventing late rework rather than compressing tasks. This review did not involve protocol registration or risk-of-bias appraisal, but safeguards were in place, including PCC eligibility, dual screening, and standardised charting. Practical implications emphasise the risk-tiering of systems, \u27progress-to-test\u27 milestones, and the alignment of work packages to commissioning sequences. However, time-to-ready outcomes were reported inconsistently, which limited cross-case comparability. Future research should evaluate frameworks across laboratory typologies and regulatory settings and standardise acceleration metrics
Road Infrastructure and Economic Growth of UMP Zvataida Rural District: The Nexus of Engineering Workmanship and Rural Development in Zimbabwe
No full textThis study examined how engineering workmanship in road construction under Zimbabwe’s Emergency Road Rehabilitation Programme (ERRP) and related emergency preparedness initiatives influences economic development in rural districts. It argues that high-quality workmanship in road works is a critical driver of economic growth, improved market access, reduced transport costs, increased investment, and employment creation particularly in underserved rural areas such as Uzumba Maramba Pfungwe (UMP) Zvataida Rural District of Mashonaland East Province. The study adopts a qualitative research approach, drawing on policy documents, project reports, stakeholder interviews, and field observations to gain in-depth insights into both the technical and socio-economic dimensions of road infrastructure development. Thus, the sample was selected using a purposive sampling technique and comprised participants from Zimbabwe’s Emergency Road Rehabilitation Programme in UMP Rural District including policymakers, government agencies, distribution companies, and consumers resulting in a sample size of 50 respondents. Data were collected through semi-structured interviews with government officials, local contractors, community leaders, and ERRP beneficiaries, as well as through on-site evaluations of selected road projects. Thematic analysis was used to interpret qualitative data, enabling the identification of recurring patterns related to workmanship quality, contractor performance, supervision mechanisms, funding timelines, and local capacity constraints. Findings indicate that the ERRP has resulted in improved road accessibility in over 70% of the assessed project sites, contributing to reduced travel times and enhanced linkage to local markets. However, participants reported persistent challenges in workmanship quality, with approximately 60% of respondents citing inadequate supervision and weak quality assurance procedures as major constraints. Field observations also revealed inconsistencies in drainage design, gravel compaction, and edge protection across several completed segments. Furthermore, nearly half of the interviewed stakeholders, that is 48% highlighted delays in funding disbursements as a key cause of compromised technical standards and reduced contractor performance. Consequently, the study concludes by stating that although ERRP interventions have delivered measurable improvements in road conditions within UMP, their long-term economic impact is hindered by workmanship deficiencies and limited institutional oversight. Thus, strengthening contractor capacity, enforcing rigorous supervision frameworks, and improving inter-agency coordination are essential in sustaining infrastructure gains and at the same time maximising rural economic development outcomes. Therefore, the study recommends targeted training for local contractors, enhanced monitoring systems, and better-aligned funding mechanisms to ensure durable and economically transformative road construction in rural districts
Cash Flow Management for Women Microentrepreneurs: A Case Study of Instant Herbal Medicine MSMEs in Batu City
No full textAims: This study was conducted to determine the meaning of cash flow management for female micro entrepreneurs. This study used a qualitative approach with a case study method. The study was conducted to determine how female micro entrepreneurs manage cash flow and explore the meaning contained there.
Study Design: The research subjects were female instant herbal medicine MSME entrepreneurs who had been running their businesses for at least two years and were directly involved in business financial management.
Place and Duration of Study: Place for the research in Batu City. Duration of research at 6 month.
Methodology: The methods used were interviews, participatory observation, and documentation. Data analysis was carried out through data reduction, which involved selecting, focusing, and simplifying the data, presenting the data in tables, matrices, and narratives, and finally verifying the results or drawing conclusions. To ensure data validity, the study employed several strategies, including source triangulation, member checking, and persistent observation. The study was conducted in 2025 over a period of 3 months.
Results: Cash flow management experience is shaped by values of independence, family responsibility, and economic adaptation. Most informants do not have a background in financial education, but learn through practice and experience. Cultural actors also influence how they interpret money. Cash flow management is not only for survival, but also for maintaining family harmony and business prosperity.
Conclusion: Based on the results of a phenomenological analysis of the experiences of three female informants who are instant herbal medicine microentrepreneurs in Batu City, it can be concluded that cash flow management has a meaning that goes beyond mere financial activities, but rather reflects a balance between economic, social, and spiritual functions in the lives of women entrepreneurs
The Influence of Managerial Motives on Earnings Management: Insights from Taiwan’s Publicly Listed Firms
No full textThis study investigates how managerial motives—including ethical attitude beliefs and perceived stakeholder pressure—influence real earnings management (REM) among Taiwanese listed and OTC firms. Using matched survey–archival data from 265 firms and 1,590 firm-year observations (2018–2024), this study estimates abnormal operating cash flows, production costs, and discretionary expenses following Roychowdhury’s (2006) models. The results are derived from a hierarchical linear modeling framework and demonstrate robust reliability and multilevel effects. Robustness tests using lagged variables, accrual-based measures, and subsample analyses confirm the findings. These results highlight the importance of integrating psychological motives and industry context in understanding REM. The study offers implications for corporate governance, audit oversight, and regulatory policy
The Role of Entrepreneurship in Synchronising Production, Business, and Operational Issues in the Zimbabwe Prison & Correctional Service (ZPCS)
No full textDespite growing scholarly and policy interest in prison-based production and rehabilitation initiatives in developing economies, empirical evidence remains limited on how entrepreneurship functions as a coordinating mechanism across production, business, and operational systems within correctional institutions. Existing studies largely focus on isolated outcomes such as agricultural productivity or inmate skills acquisition, while overlooking systemic misalignments, weak value-chain integration, and deficiencies in institutional coordination. Therefore, this study examines how entrepreneurship can play a central role in synchronising production, business, and operational functions within the Zimbabwe Prisons and Correctional Service (ZPCS). Anchored on the Resource-Based View (RBV), an operations management theory, and the entrepreneurial ecosystem model, the research investigates how institutional entrepreneurship can enhance productivity, self-sufficiency, rehabilitation, and organisational sustainability. Thus, a mixed-method research design was employed, incorporating systematic document analysis alongside observational insights gathered from selected prison farms and vocational training centres. Thus, findings indicate that although ZPCS demonstrates growing entrepreneurial orientation that is through agricultural production, commercial ventures, vocational training, and public–private partnerships regrettably, misalignments persist among the production, business, and operations domains. Key challenges include inadequate mechanisation, regulatory bottlenecks, limited marketing skills, weak value chains, and inconsistent operational coordination. The study therefore, concludes that a deliberate, integrated entrepreneurial strategy can strengthen institutional efficiency, reduce fiscal burdens, and enhance rehabilitation outcomes. Accordingly, policy and managerial recommendations are provided to improve synchronisation and long-term sustainability
Moderating Effect of Firm Size on the Relationship between Financial Metrics and Share Price of Listed Agriculture and Consumer Goods Firms in Nigeria
No full textIn view of scholars-established link between firm size and share price and the suggested dual causality nexus between firm size and financial performance, the study examined the moderating effect of firm size on the relationship between financial metrics and share prices of listed agriculture and consumer goods firms in Nigeria. It controlled for the pervasive macroeconomic variables of inflation, interest rate and exchange rate. Using purposive sampling technique, a sample of 20 out of the 26 firms of study was obtained. Secondary data were sourced from annual published financial statements of the firms, while the macroeconomic data were obtained from the National Bureau of Statistics and the Central Bank of Nigeria. Generalized least squares regression analysis was performed with the aid of STATA 17. The outcome indicated that return on equity, earnings per share, and firm size, each has a significant positive effect on share prices of listed agriculture and consumer goods firms in Nigeria while current ratio, debt-equity ratio, and total assets turnover each has a non-significant effect on the share prices. Furthermore, firm size has a significant moderating effect on the relationship between financial metrics (proxied by current ratio, and earnings per share) and share prices of listed agriculture and consumer goods firms in Nigeria. In the same vein, firm size has a non-significant moderating effect on the relationship between financial metrics (proxied by current ratio, debt-equity ratio, and total assets turnover) and share prices of listed agriculture and consumer goods firms in Nigeria. Therefore, it was recommended that Security and Exchange Commission should prioritize the appropriate disclosure of the identified key metrics in the financial statements. Furthermore, investors should consider the moderating effect of firm size on the financial metrics to better understand how different metrics impact share prices for firms of varying sizes and adjust their investment strategy accordingly
Strategic Human Resource Management and Public Sector Performance in Developing Countries: Evidence from County Governments in a Devolved Context in Kenya
No full textApplication of a strategic approach in managing people in an organization has been touted as acritical component in improving organizational performance. Although the relationship between Strategic Human Resource Management (SHRM) and performance is well established in private sector research, empirical evidence from public sector organizations in developing countries remains limited. This dearth is even more evident since Kenya adopted a devolved system of government in 2010. This study examines the influence of SHRM practices on public sector performance using survey data from County Governments in Western Kenya. This study examines the influence of SHRM practices on public sector performance using survey data from county governments in Western Kenya. Data was analyzed using Multiple Linear Regression Analysis to establish the effects of strategic recruitment and selection, performance management, training and development, and talent retention on performance. Performance was measured using service delivery metrics of organizational effectiveness, accountability and employee motivation. The results show that SHRM practices have a significant positive influence on public sector performance, with performance management and training and development emerging as the strongest predictors. However, the findings also suggest that the effectiveness of SHRM practices is dependent on institutional capacity and leadership commitment. The study extends SHRM–performance research to a devolved public sector context in the Global South and offers practical insights for strengthening county-level performance through strategic HRM
Audit Committee, Financial Performance and their Roles in Determining Company Value: An Empirical Study
No full textAims: This study aims to determine the effect of good corporate governance and financial performance on company value with company size as a moderating variable.
Study Design: This study investigate the effect of good corporate governance and financial performance on company value with company size as a moderating variable.
Place and Duration of Study: Pharmaceutical companies listed on the IDX for the 2019-2023 period.
Methodology: The Research method used is quantitative research, an approach that focuses on numerical data collection and statistical analysis. The population in this study were pharmaceutical companies listed on the IDX for the 2019-2023 period between January 2019 - December 2023 and comprised 50 companies. I suggest adding information regarding the research period and the specific indicators used to measure \u27Financial Performance\u27 with ROA and \u27Company Value with The proxy for company value is price to book value, which is the value of the company\u27s assets after deducting the value of its liabilities.
Results: This study found that good corporate governance and financial performance have a positive effect on firm value. Firm size does not moderate the effect of good corporat. Firm size significantly moderates the positive effect of profitability on firm value.
Conclusion: The study implications for investors, management, and regulators. Investors can understand the factors that influence company value when making investment decisions