Asian Journal of Economics, Business and Accounting
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Low-carbon City Pilot and Urban Green Innovation: From the Perspective of Ecological Attention
No full textIn response to global climate challenges and the pursuit of sustainable development, low-carbon city pilots (LCCP) have become a critical instrument for China to achieve its carbon peaking and neutrality goals. This study empirically investigates the impact of the LCCP policy on urban green innovation and its underlying mechanisms from the novel perspective of ecological attention. Utilizing a multi-period difference-in-differences (DID) model and panel data from 283 prefecture-level cities in China from 2007 to 2017, we find robust evidence that the LCCP policy significantly promotes green innovation, measured by green patent applications per 10,000 residents. The results withstand a series of robustness checks, including parallel trends validation, alternative explanatory variable specifications, sample period adjustments, and exclusion of major municipalities. Furthermore, heterogeneity analyses reveal that the policy effects are more pronounced in eastern coastal cities, areas with higher financial development, and cities with lower resource dependence. Mechanism analysis reveals that ecological attention serves as a crucial transmission channel. Specifically, the policy elevates both governmental ecological attention, measured by the frequency of environmental keywords in the work reports, and public ecological attention, captured by the Baidu search index. Notably, public ecological attention demonstrates a stronger driving effect on green innovation compared to its governmental counterpart, suggesting that bottom-up engagement plays a vital role in fostering green technological advances. This research provides theoretical and empirical support for evaluating city-level environmental policies and offers valuable insights for policymakers. We propose expanding the coverage of low-carbon pilot programs, tailoring policy design to account for regional heterogeneity, and strengthening policy enforcement to enhance public participation. These findings underscore the importance of integrating ecological attention into environmental governance frameworks to accelerate the transition toward greener and more resilient urban development
From Fields to Futures: The Economic and Occupational Impact of the Rice Tariffication Law
No full textAims: This study examines the economic and occupational effects of the Rice Tariffication Law (RTL) on rice farmers in the Philippines, estimating its impact on income, occupational mobility, and income distribution between beneficiaries and non-beneficiaries using microsimulation and logistic regression.
Study Design: A quantitative econometric analysis employing microsimulation modeling and multinomial logistic regression to assess the ex-ante effects of RTL on farmers’ income, expenditures, and occupational decisions.
Place and Duration of Study: The analysis uses nationally representative data from the 2018 Family Income and Expenditure Survey (FIES) and simulates income and occupational changes from 2018 to 2021.
Methodology: The study applies microsimulation techniques and logistic regression models to estimate RTL’s impact on household income and occupational shifts among wage workers, rice farmers, non-rice farmers, and the unemployed. A Heckman two-step model addresses selection bias. The simulation incorporates Rice Competitiveness Enhancement Fund (RCEF) provisions on mechanization, seed distribution, and credit support.
Results: Beneficiary rice farmers experienced an estimated 52% increase in income, while non-recipients saw a 19% decline. Regions II, VI, CARAGA, III, and IV-B recorded the highest gains (16%–60%). Occupational analysis shows that about 3,000 non-rice farmers shifted into rice farming after RTL implementation. Income, education, marital status, and number of children were significant predictors of occupational choice.
Conclusion: RTL substantially improved the income of beneficiary rice farmers but negatively affected non-recipients. Strengthening and localizing RCEF implementation, alongside expanding microfinancing programs through LBP and DBP, is recommended to ensure equitable support. Continued policy refinement and broader rural investment are essential for sustaining farmer welfare and promoting inclusive agricultural growth
Re-examining the Validity of the Augmented Phillips Curve in the United States of America
No full textAims: This study empirically tests the validity of the augmented Phillips curve hypothesis for the United States using quarterly data from 1982Q1 to 2023Q4. The augmented Phillips curve posits an inverse relationship between the unemployment gap and inflation, with inflationary expectations playing a crucial mediating role.
Study Design: Time series econometric analysis with structural break testing.
Place and Duration of Study: United States economy, from the first quarter of 1982 to the fourth quarter of 2023 (168 quarterly observations).
Methodology: The analysis employs data from the Federal Reserve Economic Data (FRED) database. Inflation is measured by the year-over-year percentage change in the PCEPI. Independent variables include the unemployment gap (actual unemployment rate minus natural rate) and expected inflation from the University of Michigan Survey. April 2009 is selected as a potential structural break point because it corresponds to the trough of the Global Financial Crisis, a period widely documented as having altered U.S. inflation dynamics. Initial estimation uses Ordinary Least Squares (OLS), but diagnostic testing reveals significant autocorrelation. Therefore, the study transitions to Generalized Least Squares (GLS) to obtain more efficient and reliable estimates.
Results: The OLS model produces a theoretically divergent positive unemployment-gap coefficient, reflecting misspecification driven by autocorrelation and crisis-period instability. However, after correcting for autocorrelation through GLS, the unemployment-gap coefficient attains the theoretically consistent negative sign predicted by the augmented Phillips curve. The GLS results confirm a statistically significant negative relationship between the unemployment gap and inflation (β₂ = –0.14, p = .001) and a positive relationship between expected inflation and actual inflation (β₃ = 0.63, p < .001). Structural break analysis further indicates that inflation averaged 0.94 percentage points lower in the post-crisis period (δ₁ = –0.94, p = .03), with the Chow test validating the April 2009 break (F = 5.03, p = .02).
Conclusion: The findings support the augmented Phillips curve once autocorrelation and structural instability are addressed. The results highlight the importance of accounting for crisis-induced regime shifts, properly modeling inflation expectations, and correcting serial correlation when estimating inflation dynamics in advanced economies
Exploring the Role of Business Model Innovation in Driving Entrepreneurial Success: Evidence from Sub-Saharan Africa
No full textThis study examined the role of business model innovation in driving entrepreneurial success in Sub-Saharan Africa. The specific objective was to assess the effect of value proposition innovation and process innovation on entrepreneurial success. A survey research design was employed, involving 200 small business operators drawn from Nigeria, Ghana, Kenya, and South Africa. Data were collected through structured questionnaires administered via Google Forms, using a five-point Likert scale to measure key variables. The research questions were analyzed using frequency distribution, while hypotheses were tested through multiple regression analysis to determine the nexus between business model innovation and entrepreneurial success. Findings revealed that: value proposition innovation positively affects entrepreneurial success (β = 0.364; p = 0.000); process innovation positively affects entrepreneurial success (β = 0.471; p = 0.000). In conclusion, innovative business models play a crucial role in improving the performance and sustainability of small ventures in Sub-Saharan Africa. It was recommended that small business owners in Sub-Saharan Africa should focus on continuously improving the value they offer to customers by understanding changing consumer needs and trends. By investing in unique products and services that set them apart from competitors, entrepreneurs can build stronger customer loyalty and increase long-term profitability
Farmers\u27 Perception Towards KCC Scheme in Mysore Division: An Empirical Analysis
No full textThe present study investigated farmers’ perceptions of the Kisan Credit Card (KCC) scheme and assessed the challenges encountered by farmers in the Mysore division. The research relied exclusively on primary data, which was collected using a pre-tested questionnaire administered to the selected respondents through multi-stage random sampling. As an inferential examination, the study employed cross-tabulation with Chi-square and ANOVA analysis to interpret and evaluate the data. The statistical results indicate that there are significant differences in how farmers from different districts of the Mysore division perceive the impact of the KCC scheme in terms of access to better quality inputs, growing commercial crops, and improvements in annual income, as evidenced by p-values less than 0.05. Conversely, p-values greater than 0.05 suggest uniformity in the challenges experienced by farmers throughout the division, indicating no significant inter-district variation in this regard. The authors suggested that farmers must take proactive steps to become more engaged with the financial mechanisms, and at the policy level, it is also imperative to strengthen the integration of technology and data analytics in scheme implementation and monitoring, thereby ensuring greater efficiency, transparency, and inclusiveness
The Role of IFRS S1 and S2 in Enhancing Transparency and Accountability of ESG Reports: A Systematic Review
No full textThis study aims to analyze the role of IFRS S1 and S2 in improving transparency and accountability of Environmental, Social, and Governance (ESG) disclosures. This study uses the Systematic Literature Review (SLR) method by analyzing 35 articles published in Scopus reputable international journals. The results show that IFRS S1 and S2 have the potential to improve the quality of sustainability reporting by providing clear and standardized guidance. The implementation of these standards can assist companies in disclosing relevant information regarding ESG policies and strategies, as well as related impacts and risks that may affect long-term business sustainability. The research also highlights challenges in the implementation of IFRS S1 and S2, such as differences in interpretation across countries, companies\u27 unpreparedness to comply with regulations and the lack of standardized data and methodologies. This research provides insights for companies, regulators, and policymakers on the importance of transparency and accountability in ESG disclosures and how IFRS S1 and S2 can contribute to achieving these goals
Artificial Intelligence in Corporate Finance - Transforming Financial Strategies for Startups: A Systematic Review
No full textArtificial Intelligence (AI) is revolutionizing corporate finance by enabling startups to overcome traditional financial challenges and achieve sustainable growth. This study systematically reviews AI\u27s transformative potential, highlighting its applications in financial decision-making, process automation, fraud detection, and predictive analytics. Drawing from 50 peer-reviewed articles, the review highlights how AI technologies like machine learning, natural language processing, and predictive modelling enhance financial efficiency, mitigate risks, and enable strategic innovation for startups. While AI-driven financial strategies reduce costs, improve cash flow accuracy, and foster ESG compliance, barriers such as high implementation costs, skill gaps, and integration challenges persist. The findings also reveal significant research gaps, including the need for scalable AI tools tailored to startups and ethical frameworks to mitigate biases in financial models. By addressing these issues, this study provides actionable insights for leveraging AI to transform financial operations, empowering startups to thrive in a competitive digital economy
The Influence of Hospital Service Quality, Hospital Service Innovation Strategy, and Therapeutic Communication Competence of Doctors on Patient Loyalty Mediated by Trust in a Military Hospital under the Indonesian Army Health Center
No full textAims: This study aims to explore the influence of hospital service quality, hospital service innovation strategy, and doctors\u27 therapeutic communication competence on patient loyalty, with trust and patient satisfaction as mediating variables.
Study Design: Quantitative, cross-sectional study.
Place and Duration of Study: The research was conducted at the Level III Army Hospital, a healthcare facility managed by the Indonesian Army under the Army Health Center (Puskesad).
Methodology: A structured survey was administered to 384 family patients receiving care at the hospital. Data were analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS) to examine the relationships between hospital service quality, innovation strategies, therapeutic communication competence, trust, and patient loyalty.
Results: The study found that service quality, innovation strategies, and communication efficiency positively influence patient loyalty, with trust mediating the effect of service quality and communication efficiency. However, trust did not mediate the effect of innovation strategy on loyalty
Conclusion: Hospital service quality, innovation strategies, and therapeutic communication competence are critical factors influencing patient loyalty. Trust enhances the effects of hospital service quality and therapeutic communication competence on loyalty but does not mediate the impact of innovation strategies. These findings highlight the importance of improving service quality and communication competence to build trust and foster patient loyalty in hospital settings
Digital Currencies: The Future of Money
No full textThis paper explores the transformative impact of digital currencies on the future of money, emphasizing their potential to revolutionize financial systems worldwide. It examines the evolution of digital currencies, including Central Bank Digital Currencies (CBDCs) and digital wallets, and their underpinning technologies such as blockchain and distributed ledger technologies. The study analyzes their implications for financial inclusion and efficiency, showing how they democratize access to financial services. It presents case studies illustrating practical applications in simplifying cross-border payments and everyday transactions, focusing on examples from China, Sweden, and the Bahamas. The research employs a mixed-methods approach, combining historical analysis, and case studies to derive its findings. The conclusion reiterates the pivotal role of digital currencies in shaping the future of money and suggests further research into their implications for global financial stability, including specific areas like regulatory frameworks, international trade impact, and long-term economic implications
Investment Evaluation of Rural Revitalization Projects: A Case of the B Village Rural Tourism Project in L City as an Example
No full textNational rejuvenation requires rural revitalization. Investment in rural projects is an important way to promote rural revitalization. Based on the rural tourism project in B Village, L City, this article elaborates on the basic situation and operational status of the project, and evaluates its economic and social benefits. Rural project investment faces issues such as a shortage of grassroots talent, insufficient financial resources, and inadequate management. Therefore, effectively introducing and educating project talents, enhancing the efficiency of fund utilization, and implementing project supervision and management are effective ways to address project challenges