Asian Journal of Economics, Business and Accounting
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Balancing Deregulation and Risk: A Framework for AI Deployment in U.S. Municipal Governance
No full textPurpose: This study addresses the critical challenge of integrating artificial intelligence (AI) into U.S. municipal governance. It seeks to balance the innovation potential of AI, highlighted by federal initiatives like Executive Order 14179, against significant risks to data security, algorithmic fairness, and democratic accountability.
Methods: The research analyzes and synthesizes a body of pertinent literature, policy documents, and existing governance frameworks. This methodological approach is designed to develop insights directly useful to municipal leaders.
Findings: The article introduces the Municipal AI Governance Model (MAGM) as a unified framework for promoting innovation while minimizing risk. The model establishes a tiered governance structure as the basis for its recommendations, which are tailored to different AI deployments, regulatory environments, and stakeholder preferences. The findings suggest that successful AI deployment requires a comprehensive risk assessment framework, multi-stakeholder governance, and adaptive monitoring mechanisms.
Conclusion: The MAGM provides a strategic implementation roadmap designed to build community trust and align with potential federal requirements. By focusing on improving governance efficiency without compromising public trust or accountability, this paper contributes to the expanding literature on algorithmic governance and offers practical insights for deploying AI in a changing policy context
From Reputation to Value: The Strategic Role of CSR in Enhancing Firm Performance in Indonesia
No full textAims: This study investigates whether corporate social responsibility (CSR) mediates the effect of firm reputation on firm value in publicly listed companies in Indonesia.
Study Design: This study adopts a quantitative descriptive approach employing a panel data regression design to analyze the effect of firm reputation on firm value and to examine the mediating role of Corporate Social Responsibility (CSR) activities. Statistical analyses were conducted using secondary data derived from publicly available reports. This methodological approach was chosen to ensure a rigorous examination of causal relationships across firms and over time, enhancing both internal validity and generalizability. The sample was selected using a purposive sampling technique based on specific criteria: (1) companies that consistently published annual and sustainability reports (CSR disclosures) during the observation period; (2) firms providing complete data for the variables of firm reputation. Firm reputation is proxied by brand image (awards and recognition) and Big-4 auditor affiliation, while firm value is measured using Economic Value Added (EVA). CSR is measured using a CSR disclosure score, which represents an index calculated as the ratio between the number of items disclosed by the company and the total number of items required to be disclosed. Control variables include Return on Assets (ROA) and firm size. Applying these criteria resulted in a final sample of 51 companies, yielding 306 firm-year observations included in the empirical analysis.
Place and Duration of Study: This study examines companies listed on the Indonesia Stock Exchange (IDX) over a six year period, spanning from 2017 to 2022.
Methodology: This study employed a panel data regression approach using observations from 51 firms over six years. The analysis began with descriptive statistics to capture the general characteristics of all variables. Model selection was then conducted through the Chow, Hausman, and Lagrange Multiplier (LM) tests to determine the most suitable estimation model. Afterward, hypothesis testing was performed to evaluate the relationships among variables, followed by a Sobel test to examine the mediating role of Corporate Social Responsibility (CSR) in linking firm reputation and firm value.
Results: Empirical findings indicate that corporate reputation has a positive and significant influence on firm value (EVA). Furthermore, corporate reputation exhibits a significant influence on the level of Corporate Social Responsibility (CSR) disclosure, while CSR itself significantly increases firm value. Mediation analysis using the Sobel test confirms that CSR acts as a statistically significant mediator in the relationship between corporate reputation and firm value. These findings suggest that CSR serves as a strategic translation mechanism through which reputation assets are converted into economic value, underscoring the important role of CSR in linking intangible reputation factors to tangible financial performance among public companies in Indonesia.
Conclusion: Corporate reputation has a significant positive effect on corporate value, both directly and indirectly through disclosure of Corporate Social Responsibility (CSR) activities. Corporate reputation, reflected in external awards and auditor affiliations, contributes to increased transparency and credibility of CSR, ultimately increasing the company\u27s economic value. CSR is not only a moral or legal obligation, but also a strategic tool to actualize the power of reputation into financial added value. The implications of this study emphasize the strategic importance of reputation management through the implementation of high-quality audit mechanisms and the company\u27s active involvement in sustainable business practices. And capital market authorities are encouraged to improve the quality of supervision related to corporate reporting and to promote greater transparency through comprehensive information disclosure
Testing the Environmental Kuznets Curve (EKC) for the United States
No full textThis study empirically tests the Environmental Kuznets Curve (EKC) hypothesis for the United States using annual data from 1971 to 2021. The EKC posits an inverted U-shaped relationship where economic growth initially exacerbates environmental degradation before eventually mitigating it after a certain income threshold is reached. This analysis uses ecological footprint per capita to measure environmental degradation and GDP per capita to represent economic growth.
The methodology applies Ordinary Least Squares (OLS) and Generalized Least Squares (GLS) regression techniques to model the non-linear relationship. A key contribution is the incorporation of a structural break analysis to account for the effects of the 2008 global financial crisis, which was confirmed to be statistically significant. The GLS estimation, which corrects for serial correlation present in the OLS model, provides clear evidence supporting the EKC hypothesis for the U.S. The results indicate that while initial economic growth increases the ecological footprint, a turning point is reached after which higher income levels lead to environmental improvement. This finding underscores the critical role of technological advancement, scale effects, and regulatory frameworks in enabling sustainable development pathways in high-income economies
Determinants of Stock Market Financial Performance among Listed Firms in Tanzania
No full textAims: Study examined the determinants of stock market financial performance in Tanzania in a case of 28 listed firms’ panel data. The general objective of study was to examine determinants of stock market financial performance in Tanzania in a case of 28 listed firms Study employed institutional theory.
Study Design: Study used quantitative research design.
Methodology: Study used secondary panel data of 140 observation for a sample of 28 listed firms on Dar es Salaam Stock Exchange since 2020-2024. Data were analysed using panel regression models, fixed effects model recommended from Hausman test and other model diagnostics. Ethical considerations were observed using publicly available financial data.
Results: Findings from fixed effects model revealed stock market development has negative significant effect and also regulatory framework showed positive significant impact on financial performance.
Conclusion: It is recommended that policymakers and regulatory authorities strike a balance between maintaining effective regulations and ensuring flexibility to promote market growth. Additionally, efforts should be made to enhance stock market infrastructure, broaden financial literacy, and encourage more listings and investor participation
The Effects of Stock Exchange Market on Firms’ Performance in Tanzania
No full textAims: Study examined effects of stock exchange Market on Firms’ Performance in Tanzania, focusing on key market variables potentially in influencing firm profitability. In the context of a developing financial sector, Tanzanian firms face challenges in leveraging stock exchange mechanisms for optimal performance, raising concerns about the actual impact of stock market dynamics on returns. The general objective of study was to examine how share price (SP) and credit risk management (CRM) affect the performance of listed companies, measured by return on equity (ROE). Study employed Efficient Market Hypothesis Model.
Study Design: Study used explanatory research design.
Methodology: Study used secondary panel data of 140 observation for a sample of 28 listed firms on Dar es Salaam Stock Exchange since 2020-2024. Data were analysed using panel regression models, fixed effects model recommended from Hausman test and other model diagnostics. Ethical considerations were observed using publicly available financial data.
Results: Findings from fixed effects model revealed credit risk management has positive (β = 3.04E-16) significant at the 5% level (p = 0.0436). Significant effect, where share price also exhibited positive insignificant relationship (β = 2.26E-05), (p = 0.6648).
Conclusion: It is recommended that firms strengthen their credit risk management practices by adopting modern risk assessment tools, enhancing internal control systems and ensuring adherence to sound financial policies. Regulators and market participants should also promote transparency and investor confidence to stabilize share prices and encourage long-term investments. Furthermore, firms should focus on improving financial management strategies and corporate governance to minimize risks and enhance sustainable growth in the Tanzanian stock market
Green Marketing and Consumer Purchasing Behavior: A Systematic Literature Review through the Lens of Behavioral Economics
No full textIn today’s world, where environmental awareness and sustainable consumption are becoming global priorities, green marketing plays a vital role in influencing consumer behavior and business strategies. This paper discusses the relationship between green marketing and consumer purchasing behavior using a behavioral economics lens. A systematic literature review was used and followed the PRISMA guidelines in processing peer-reviewed studies published between 2015 and 2025, resulting in a review of 144 studies across 41 countries. Relevant studies were gathered from Google Scholar and Mendeley databases. Results established that altruism, trust, knowledge and socially constructed norms have a stronger impact on the green purchasing decision than price and convenience. Nudge Theory has proven sufficient by recognizing the role of labeling of the environment, default options, and open communication convention to develop sustainable decisions. Generally, eco-branding, eco-packaging, and eco-labeling increase consumer loyalty and reduce the attitude-behavioral gap, indicating that the behavioral information may support the maintenance of sustainable consumption behavior and increase competitiveness of firms. Overall, the findings emphasize that understanding behavioral motivations through green marketing can contribute to achieving sustainable consumer practices and environmental protection worldwide
Adaptive Entrepreneurial Leadership and Innovative Behavior in Madura Grocery Store MSMEs
No full textAims: This study aims to test five hypotheses focusing on the role of Adaptive Entrepreneurial Leadership in encouraging Employee Innovative Behavior. Specifically, it examines the direct effects on Employee Innovative Behavior and Psychological Empowerment, the effect of Psychological Empowerment on innovative behavior, its mediating role, and the moderating role of Socio-Cultural Adaptability.
Study Design: This study uses a quantitative approach with an explanatory research method to test causal relationships among variables.
Place and Duration of Study: The research was conducted on Madurese ethnic grocery store MSMEs in Malang City.
Methodology: Data were collected from 101 MSME owners and analyzed using structural model testing to assess direct, mediating, and moderating effects.
Results: Results indicate that adaptive entrepreneurial leadership significantly influences employee innovative behavior and psychological empowerment. Psychological empowerment affects innovative behavior and partially mediates this relationship. Socio-cultural adaptability moderates the link, strengthening the impact of adaptive entrepreneurial leadership on innovative behavior MSMEs.
Conclusion: Employee innovative behavior in MSMEs is shaped by the synergy between adaptive leadership, psychological empowerment, and socio-cultural adaptability. Future research is recommended to employ longitudinal or mixed-method designs and to examine broader MSME contexts to enhance the generalizability of these findings
E-Government and Public Procurement: A Scoping Review of Technologies, Institutional Readiness, and Governance Challenges
No full textDigital transformation in public procurement is reshaping governance by embedding transparency, efficiency, and accountability into state operations. This scoping review explores the strategic adoption of e-Government tools in procurement systems, guided by Arksey and O’Malley’s framework as refined by Levac et al. It systematically maps 48 peer-reviewed articles and policy documents published between 2000 and 2025. The review identifies key technologies, including eProcurement platforms, blockchain systems, and AI-driven analytics, implemented across procurement procedures such as tendering, contract management, and auditing. Thematic synthesis reveals enabling conditions such as institutional readiness, ICT infrastructure, and policy support, alongside persistent barriers including infrastructural deficits, behavioral resistance, and regulatory fragmentation. While digital systems improve procurement outcomes, the review highlights underexplored issues such as adaptive corruption, digital exclusion, and trust dynamics. It concludes with implications for research and practice, recommending longitudinal studies to assess impact over time, inclusive platform design to mitigate exclusion, and regulatory agility to address evolving governance challenges and ensure sustainable, equitable digital transformation in public procurement
Effects of Green Human Resource Management on Green Innovation in the Ready-Made Garments Sector: Exploring the Mediating Role of Employee Motivation and Green Self-Efficacy
No full textBackground: Green Human Resource Management (GHRM) is a new concept that could be beneficial in realizing positive environmental outcomes.
Purpose: The purpose of this study is to explore the impact of GHRM on Green Innovation (GI) in the context of the Ready-Made Garment (RMG) sector of Bangladesh. In which it focuses on the mediating influence of Employee Motivation (EM) and Green Self-Efficacy (GSE).
Method: A cross-sectional examination of a conceptual model informed by Social Cognitive Theory. A structured questionnaire was used to obtain data from 250 employees of 25 large-scale RMG factories. Structural Equation Modeling (SEM) in AMOS was used to test the hypothesized relationships between the variables.
Result: The results of GHRM practices are considered to have a positive direct effect on Green Innovation with high emission levels. In addition, Employee Motivation and Green Self-Efficacy play a vital partial mediation role between GHRM and GI.
Implications: The study offers actionable insights for RMG managers that GHRM systems are imperative for enhancing environmental innovation, through the motivation of employees as the latter serves as the main facilitator. These findings can be useful for policymakers and industry associations to formulate guidelines and carve out incentives that encourage firms to invest in such green training and motivational HR practices.
Originality: This study provides a new insight about the psychological mechanisms of the link GHRM and innovation in a lesser-known field of study — the RMG industry in Bangladesh. It provides a novel approach to this issue by testing a dual-pathway model including not only mediating (Employee Motivation) but also (Green Self-Efficacy) variables, thus contributing to a more refined insight into the human resource antecedents of sustainability
Technological Innovations Driving Environmental Accounting: A Sustainable Approach to Corporate Responsibility
No full textThis paper seeks to discuss and analyze environmental accountability as a crucial aspect of business responsibility in today’s business world. Technological advancement has therefore reshaped the field of environmental accounting so that it cannot only measure an organization’s impact on the environment but also find ways of reducing it and incorporating it into its strategic plans. This paper aims to examine the influence of technology in the improvement of environmental accounting measures and findings of how these technologies aid in sustainable corporate responsibility. To achieve the primary objective, it is necessary to analyze the effects of big data analytics, artificial intelligence, and blockchain technologies on environmental accounting and identify opportunities and threats of such integration. The research questions related to identifying the impact of these technological advancements on the field of environmental accounting, known advantages, and disadvantages, as well as potential managerial actions that can foster environmental responsibility and sustainability. The hypotheses will postulate that such technological developments enhance the precision, clarity, and effectiveness of EA practices, organizational environmental performance, and sustainability would be improved for companies that have implemented these technologies, as well as, the enhanced stakeholder confidence and a better corporate image among institutions implementing the mentioned technologies. In this article, the author seeks to present technology as the biggest driver of change in environmental accounting and the best tool for ending the spin in corporate responsibility