Asian Journal of Economics, Business and Accounting
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Credit Availability and Consumer Investments in Risky Financial Assets: Mobile Payments, Financial Education and Financial Satisfaction as Mediators
No full textHolding risky financial assets is conducive for improving wealth and financial welfare of investors, but the current participation rate in China\u27s risky financial market still needs to be enhanced. Utilizing the data surveyed by the National Financial Capability Study in 2009, 2012, 2015, and 2018, this study constructs variable of consumer investments in risky financial assets (IRFA) based on whether they invest in risky financial assets such as stocks and bonds, to investigate the impacts of credit availability on IRFA. Moreover, the mediating roles of mobile payments, financial education, and financial satisfaction are also explored. The results show that credit availability positively contributes to consumer IRFA. In addition, mobile payments, financial education, and financial satisfaction mediate the nexus between credit availability and consumer IRFA. The findings of this study are informative for policymakers and financial institutions when improving holding risky financial assets and enhancing consumer financial wellbeing
Assessing the Influence of Merger with Respect to Financial Performance of Indian Bank: A Camel Approach Analysis
No full textThe merger of Allahabad Bank and Indian Bank, effective from April 1, 2020, is a significant event in India’s public sector banking consolidation. This study examines the merger\u27s impact on Indian Bank’s financial performance using the CAMEL framework, which assesses Capital Adequacy, Asset Quality, Management Quality, Earnings, and Liquidity. A paired t-test was applied to analyse the bank\u27s pre- and post-merger performance. The results show notable improvements in Asset Quality, Management Quality, and Earnings, indicating that the merger enhanced operational efficiency, profitability, and management practices. However, mixed results were observed in Asset Quality and Management Efficiency, suggesting ongoing challenges related to liquidity and financial stability. The study concludes that while the merger offers growth potential, its success depends on effective integration and continuous monitoring of key performance metrics. The CAMEL framework provides valuable insights into the impact of mergers in the Indian banking sector
Financial Management and Virtual Reality in Tourism: Enhancing Visitor Experience under the Belt and Road Initiative
No full textThis article examines the intersection of financial management in tourist attractions and the impact of Virtual Reality Technology (VRT) on tourism experiences within the context of the Belt and Road Initiative (BRI), a global development strategy fostering cross-border infrastructure and economic collaboration. While the BRI accelerates tourism growth, many attractions face challenges such as under-internationalized financial systems and inadequate risk-response mechanisms. Concurrently, VRT emerges as a transformative tool, particularly in enhancing eco-tourism experiences and influencing the behavioral intentions of young tourists (e.g., college students). Adopting a mixed-methods approach, this research combines Partial Least Squares Structural Equation Modeling (PLS-SEM) to quantify VRT’s effects on user engagement with Stimulus-Organism-Response (SOR) theory to map psychological and behavioral outcomes. For financial management analysis, Policy Analysis and Delphi (PAD) methods are employed to evaluate institutional gaps and stakeholder perspectives. Findings reveal that VRT significantly improves experiential quality and visit intentions, while BRI-aligned financial reforms—such as standardized cross-border payment systems and dynamic risk-assessment models—could address current managerial shortcomings. The article contributes theoretically by bridging tourism finance, digital innovation, and BRI policy frameworks, while offering practical insights for attractions to adopt VRT and strengthen financial resilience. These outcomes advance sustainable tourism development in the BRI era, with implications for policymakers, technology developers, and destination managers
Examining the Role of Artificial Intelligence in Auditing for Tax Gap Reduction
No full textEffective tax collection is one of the most important problems facing governments and the cornerstone of a fair tax system. It is essential to prevent the loss of uncollected tax revenues due to non-compliance resulting from tax avoidance and evasion practices. The research aims to highlight the use of artificial intelligence in auditing to address the challenges facing tax administrations and to demonstrate how to deal with and reduce the problem of the tax gap, given its clear impact on lost tax revenues for the benefit of the state\u27s public treasury. This is achieved by relying on the descriptive analytical approach based on describing the use of artificial intelligence techniques in auditing and analyzing its benefits, as it has become an integral part of the routine procedures required by tax administrations in order to decrease the tax gap, protect lost revenues through tax evasion, and achieve justice. In addition, the statistical analysis method is adopted to demonstrate the nature of the relationship between the independent and dependent research variables according to a questionnaire designed from two axes and distributed to a purposive sample of (80) estimators and auditors working in tax administrations. The results of the hypotheses were tested according to the statistical program (SPSS). The value of the research was represented in the results reached, the most prominent of which is the existence of a significant correlation between the use of artificial intelligence in auditing and reducing the tax gap. This confirms the significant role of using artificial intelligence techniques in auditing as an effective means of raising the efficiency of tax administration By simplifying procedures, improving the work environment, increasing employee satisfaction, and enhancing the effectiveness of tax collection, the study concluded that tax administrations must invest resources in developing and adopting modern artificial intelligence technologies, including data analysis programs, machine learning systems, and expert systems. There is also the need to establish clear regulatory policies to ensure the ethical and safe use of AI technologies while protecting taxpayer data
Exploring the Nexus among Board Gender Diversity, Women Empowerment, and Social Welfare: Evidence from India
No full textThe theory and existing literature suggest multiple advantages of gender diverse boards including active engagement of women directors towards social welfare. Yet, the representation of women directors in the board is not significant. Hence, the purpose of the study is to examine: the relationship between board gender diversity and Corporate Social Responsibility (CSR) performance; and the nexus between board gender diversity, CSR, and women empowerment. On a panel of 390 firms year observation for 10 years from Nifty Fifty index of NSE, OLS, Fixed Effect, and Random Effect regression estimators are employed in the study. The study revealed, proportion of female directors on the board have a negative relation with CSR. While, presence of independent women director on board, and their involvement in board committees have a positive relation with the CSR. However, the relationships are found to be insignificant. Which could be attributed to the fact that female directors not attaining critical mass in the board. The study suggests that the gender diverse boards tend to empower women through the CSR initiatives. Also, to avail optimum benefits of gender diverse board, corporations should aim at achieving critical mass of women on board, and facilitate their active involvement in the board processes through their involvement in the various board committees
Budget Management Strategies for Growing Nigeria Out of Debt: An Evaluation of the Rising Debt Profile
No full textNigeria has been struggling to get out of its debt burden since the beginning of the new millennium using different budget management strategies. However, a deficit budget has been recurring with a huge debt liability to the government, which reduces the stock of reserves of the government significantly. The rising debt liability has constrained the structural transformation and development in Nigeria. Although this issue has received attention from some researchers, no effort was made to investigate the budget management strategies in the context of rising debt profile to shift the paradigm from the traditional budgeting strategies to a new model. The study\u27s main objective is to propose a fiscal policy model that could lead Nigeria out of the current rising debt profile. The study used a survey design using structured questionnaires in a sample of 72 respondents. The study concludes that the current Nigeria’s current debt management strategies are ineffective, and Nigeria’s debt is unsustainable. The study also found that foreign exchange volatility significantly affects debt servicing in Nigeria. The study also found that exploring alternative debt financing could address debt management crises in Nigeria. The study recommends among others that the government should prioritize cutting excessive government spending and implementing strict fiscal controls with more transparent and structured debt repayment strategies. The government should boost foreign reserves and stabilize the Naira. It is also recommended that exploring alternative debt financing could address debt management crises in Nigeria. Therefore, Nigeria should consider mechanisms such as Diaspora bonds, Green bonds, Public-Private Partnerships (PPPs), and asset-backed securities to reduce reliance on traditional borrowing. The study also recommends government should improve budget transparency, reduce wasteful spending, and allocate funds strategically to ensure effective debt management
A Review of the Global Trends in Entrepreneurship: Lessons for Nigeria
No full textThis study uses comparative descriptive analysis of recent global and African data from the Global Entrepreneurship Monitor (GEM) and the African Entrepreneurial Ecosystem Index (AEEI) reports to identify the global trends in entrepreneurship. GEM indicators like early-stage entrepreneurial activity, business ownership, perceptions and fear of failure, as well as AEEI ecosystem dimensions like governance, support structures, finance and human capital, are synthesized to understand entrepreneurship trends. The GEM report reveals significant regional disparities in entrepreneurial activities. Income-level analysis shows that lower-income economies (Level C) predominantly feature consumer service startups, while higher-income economies displays more diversified ventures. Interestingly, some Level C countries like India and China rank high in entrepreneurial context indices, highlighting the role of supportive ecosystems over income levels alone.
The AEEI offers a regional lens on Africa, revealing that some countries (like Mauritius, South Africa, and Tunisia) demonstrate relatively strong support for entrepreneurship through favorable governance, infrastructure and access to finance. Countries like Rwanda and Nigeria show potentials but require significant improvement across several ecosystem pillars while there are also countries like Uganda and Burkina Faso with weak entrepreneurial environments. In Nigeria, entrepreneurship plays a critical role in job creation and GDP contribution. With approximately 39.7 million MSMEs, Nigeria’s entrepreneurial landscape is vibrant but still challenged by infrastructural bottlenecks and limited funding access.
The study emphasizes lessons for Nigeria, recommending improvements in infrastructure, regulatory efficiency and financial accessibility. Successful collaboration between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is highlighted as a model for simplifying business formalization. Enhancing digital infrastructure, expanding innovation hubs and improving institutional transparency are identified as essential strategies to boost entrepreneurial growth and resilience. These insights contribute to understanding how contextual factors shape entrepreneurship globally and provide actionable pathways for strengthening Nigeria\u27s entrepreneurial ecosystem
A Review of the Global Trends in Job Satisfaction
No full textThis study explores recent global trends in job satisfaction, examining key drivers, regional disparities and emerging workforce dynamics. Adopting a descriptive research design, the study synthesizes secondary data from Gallup (2024), Statista (2025), and national sources such as Statistics Canada and the U.S. Centers for Disease Control and Prevention. These datasets were selected based on their methodological rigor, geographic diversity and relevance to key workplace indicators. Data were synthesized using thematic summary of emerging trends from the harmonized data. Findings reveal a complex picture: while approximately two-thirds of the global workforce report general job happiness, only a small proportion, around 18%, are highly satisfied with their organizations. Notably, countries like Canada and those in Northern Europe display higher satisfaction rates (above 80%), driven by strong workplace policies, social protections and work-life balance initiatives. In contrast, job dissatisfaction persists in regions like the United States and parts of Europe, where issues such as poor work-life balance, limited career progression, and job insecurity are prevalent.
Company size and organizational structure also influence satisfaction levels, with larger firms generally outperforming smaller ones due to better resources and advancement opportunities. Remote work and flexible scheduling are increasingly important, with 67% of remote workers reporting satisfaction, though accompanied by rising stress levels. Gender disparities persist, with men consistently reporting higher satisfaction than women, especially in areas such as sick leave policies.
The study concludes by emphasizing the need for strategic organizational interventions to improve job satisfaction, including investment in employee development, promotion of flexible work, competitive compensation and inclusive workplace cultures. Addressing these factors can enhance employee engagement, reduce turnover and improve organizational performance. Recommendations include promoting gender equity, monitoring satisfaction through regular surveys and adapting workplace policies to align with the evolving needs of a diverse and dynamic global workforce
Short-Term Effects of USA Tariff Announcements on the Volatility of Indian Stock Market Returns: Empirical Evidence from Market and Sectoral Indices
No full textAims: This study aims to investigate the immediate effects of U.S.A. tariff announcements on the volatility of sectoral indices in the Indian stock market. It seeks to analyse how different sectors respond to external policy shocks and to understand market behaviour during these periods.
Study Design: The study employs a short-window event analysis to assess sector-specific market responses preceding and following the U.S. tariff announcement on April 2, 2025.
Data and Methodology: The study examines the daily closing prices of the Nifty 50 and major sectoral indices (e.g., FMCG, IT, PSU Banks, Automobiles, Metals, Pharmaceuticals) over 7-day, 15-day, and 30-day event windows. It evaluates volatility patterns using statistical methods, including Levene’s and Brown–Forsythe tests, to assess variance equality between pre- and post-announcement periods.
Results: The results demonstrate varied reactions across sectors. Export-oriented industries, including Automobiles, Metals, and Pharmaceuticals, had significant short-term instability, whilst FMCG, IT, and PSU Banks exhibited less impact. Volatility surges were particularly evident in the initial 7–15 days following the announcement, progressively stabilising by day 30. These findings align with financial theories such as the Efficient Market Hypothesis, Policy Uncertainty Theory, and Uncertainty Shock Theory.
Conclusion: U.S. trade policy announcements significantly affect the Indian stock market through both economic fundamentals and behavioural investor responses. Investors should adopt short-term risk mitigation strategies, while policymakers are advised to enhance market safeguards and promote sectoral resilience through export diversification and demand stabilisation
E-tax Payment and Non-Oil Revenue in Nigeria
No full textThis study assessed how electronic taxation (e-tax) affects non-oil revenue generation in Nigeria. The pre and post study employed an ex-post facto research design, using secondary data from the Federal Inland Revenue Service (FIRS) and Central Bank of Nigeria Bulletin from 1994-2023. The population of the study consisted of the entire revenue from non-oil sources and the study sample involved the complete enumeration method. Data for the study on company income tax, value -added tax and education tax were obtained from the platform of Federal Inland Revenue Service (FIRS) and Central Bank of Nigeria. Descriptive statistics and paired sample t-tests were carried out and the adjusted R2 of 0.93 and 100.98 from dummy variables revealed that while there was a positive, though statistically insignificant impact of the e-tax system on revenue generation, indicating a significant improvement in tax productivity. The study recommends that the e-tax system needs to be customized for SMEs by designing simplified e-tax platforms specifically for small and medium-sized enterprises (SMEs) to ease their compliance burden. Public awareness and education campaigns should also be created to help inform taxpayers about the benefits and usage of the e-tax system