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• Open Access Article Financial Management

  Adaptive Market Hypothesis And Overconfidence Bias

  Manel Mahjoubi, Jamel Eddine Henchiri

  8-16

  Abstract Views : 137

  Download :273

  10.36923/economa.v27i1.237

  Abstract: This paper examines the effect of excessive investor confidence on market efficiency. We study this impact for 21 developed markets and 25 emerging markets for a period from January 2006 until June 2020. First, we estimate weak market efficiency using the auto-correlation test (Ljung-Box, 1978). Thus, based on the adaptive approach, we assume that the overconfidence of investors has a negative impact on market efficiency. Concerning the... [...] Read more
• Open Access Article Finance

  Cash Management: A Key Driver of Performance for Conventional Banks in Pakistan

  Ali Raza, Hani Na’el Al- Abdallat , Ahsan-ul-Haq Shaikh

  20-27

  Abstract Views : 47

  Download :74

  10.36923/economa.v26i1.225

  Abstract: This research examines the critical influence of cash management on the financial efficacy of the conventional banking sector in Pakistan. This study represents the initial attempt to assess the influence of liquidity, debt ratio, and bank size on return on assets among five conventional banks in Pakistan. Information was obtained from audited annual reports from publicly traded banks that span from 2017 to 2021. The results indicate a... [...] Read more
• Open Access Article Economics

  Does Peer Matters? How Peer Influence Firm Payout Policies: Evidence from Pakistan

  Sana Saleem, Arwah Asif, Mohammad Usman, Mohammad Haseeb Khokar

  38-55

  Abstract Views : 82

  Download :148

  10.36923/economa.v27i1.242

  Abstract: Payout decisions are receiving more interest from an investor’s point of view. The purpose of this study is to investigate the effect of peer payout policies on a firm payout policy in Pakistan. This study employs an instrumental variable technique to overcome the endogeneity issue, which is based on peers' idiosyncratic equity shocks. The peers' payout policies have a causal link with a firm payout policy. The effect of peer pressure on firm... [...] Read more
• Open Access Article Economics Financial Management

  ESG and Administrative Costs in Equity Trading: Evidence from China

  Lanchun Huang, Zhan Wang

  98-109

  Abstract Views : 90

  Download :113

  10.36923/iefrontiers.v27i2.271

  Abstract: Recent findings suggest that firms with higher Environmental, social, and governance (ESG) scores may experience lower stock returns, contrary to the common belief that better ESG performance enhances market reputation and stock returns. This study aims to investigate the relationship between ESG performance, management costs, and stock returns by introducing an "ESG-cost framework." The framework proposes that the costs incurred in... [...] Read more
• Open Access Article Economics

  Exploring How Income Inequality, Education, and Policy Shape Energy Access Disparities in Southeast Asia

  Syeda Anam Hassan, Inayatul Haq, Alamzeb Aamir, Ihtisham ul Haq, Khalid Zaman

  14-30

  Abstract Views : 33

  Download :5

  10.36923/ie-frontiers.v28i2.403

  Abstract: The pursuance of Sustainable Development Goal 7, Affordable and Clean Energy, takes center stage in this research in the vibrant geography of Southeast Asia. This investigation centers on the social and economic ramifications of renewable energy policy, examining the various factors that influence energy fairness and justice. The study aims to determine how financial disparity, community participation, education, policy support, and... [...] Read more
• Open Access Article Economics Macroeconomics

  Foreign Direct Investment, Capital Flows, and Sectoral Growth in Nigeria: A Comparative Analysis of Agriculture and Manufacturing

  Anthony Orji, Jovita Nneka Uwakwe, Onyinye Imelda Anthony-Orji, Jonathan Emenike Ogbuabor,...

  1-13

  Abstract Views : 86

  Download :52

  10.36923/ie-frontiers.v28i2.404

  Abstract: The nexus between the agricultural sector, manufacturing sector, and FDI has been a topic of debate over the years. While the fundamental role of FDI in the growth of the overall economy has been widely recognized, findings of existing literature have remained unclear and inconclusive on how the impact of FDI varies across these distinct sectors, especially within the context of developing countries like Nigeria. This study aims to provide a... [...] Read more
• Open Access Article Economics Digital Economy

  From Peg to Float: Economic and Political Implications of the Ethiopian Birr Flotation

  Fentahun Admassu Yayeh

  46-61

  Abstract Views : 232

  Download :298

  10.36923/iefrontiers.v28i1.286

  Abstract: The adoption of a floating exchange rate system constitutes a pivotal economic policy decision that both reflects and influences a nation’s broader political economy. The flotation of the Ethiopian Birr (ETB) marks a substantial shift in Ethiopia’s monetary policy framework, carrying significant implications for the country's macroeconomic stability and development trajectory. This paper investigates the rationale behind the policy shift, its... [...] Read more
• Open Access Article Economics Finance

  Impact of Banking Penetration on Foreign Direct Investment in ASEAN: Comparative Analysis of Indonesia, Malaysia, and Thailand

  Ariodillah Hidayat, Xenaneira Shodrokova

  45-56

  Abstract Views : 230

  Download :177

  10.36923/iefrontiers.v27i2.245

  Abstract: High banking penetration is considered an important indicator of the stability and maturity of a country's financial system, which can attract foreign direct investment (FDI). This phenomenon is becoming increasingly relevant in the ASEAN region, which continues to seek to increase its attractiveness for foreign investors amid global challenges. The study used secondary data from the International Monetary Fund covering the period from 2010... [...] Read more
• Open Access Article Economics Finance

  Impact of Financial Behavior And Experience on Financial Literacy: A Study of Universities In Pakistan

  Ali Raza, Turgut Tursoy, Erum Shaikh, Mumtaz Ali

  27-37

  Abstract Views : 376

  Download :1096

  10.36923/economa.v27i1.240

  Abstract: The aim of this research is to investigate the impact of financial behavior and experience on the financial literacy of university students. The study employs a primary approach to data collection utilizing questionnaires. The targeted population consists of students from various universities in Pakistan, with a sample size of 250 students chosen through random sampling. Regression analysis reveals a positive and statistically significant... [...] Read more
• Open Access Article Economics

  Impact of Social Capital on Poverty Reduction in Ethiopia: Evidence from the Amhara National Regional Staten

  Fentahun Admassu Yayeh, Wondaferahu Mulugeta Demissie

  30-44

  Abstract Views : 272

  Download :190

  10.36923/iefrontiers.v27i2.248

  Abstract: This study aims to investigate the influence of social capital on poverty reduction among members of financial cooperatives in the urban and rural areas of the Amhara National Regional State, Ethiopia. Adopted explanatory and used mixed research methods using the cross-sectional study from 348 stratified and randomly selected financial cooperative members. Primary data was collected through a structured questionnaire, focus group discussions,... [...] Read more
• Open Access Article Economics

  Impact of the COVID-19 virus on MENA stock market

  Sirine Ben yaala, Jamel Eddine Henchiri

  17-26

  Abstract Views : 59

  Download :76

  10.36923/economa.v27i1.238

  Abstract: This study examines the influence of contagious infectious diseases, specifically COVID-19, on stock market behavior. With the global emergence of COVID-19, we have witnessed not only the health implications of a pandemic but also its profound social and economic repercussions, exacerbated by the implementation of lockdown measures. Utilizing panel data analysis, we assess the impact of disseminated information regarding the virus on the... [...] Read more
• Open Access Article Digital Economy

  Impact of Urban Digital Economy on ESG Performance: Do Technological and Business Model Innovation Matter

  Shuhua Zhang

  14-30

  Abstract Views : 199

  Download :158

  10.36923/iefrontiers.v28i1.278

  Abstract: The rapid development of the digital economy is a critical national strategy for the Chinese government, with the establishment of digital economy platforms as a key component. Simultaneously, both the government and enterprises have embraced the concept of sustainable development. Since corporate environmental, social, and governance (ESG) performance serves as a crucial micro-indicator of sustainability, it is essential to investigate... [...] Read more
• Open Access Article Economics

  Impacts of Technology Finance And Technological Innovation On Economic Growth of Jingjinji Region China

  liu hong, Ashfaque Gilal, Nor Asmat Ismail

  110-123

  Abstract Views : 98

  Download :144

  10.36923/iefrontiers.v27i2.274

  Abstract: This study investigates the impact of technology finance and technological innovation on economic growth in the Beijing-Tianjin-Hebei (Jingjinji) region, while also exploring whether this relationship is nonlinear and moderated by technology finance. Using panel data from 2000 to 2021, the study constructs indices for technology finance and technological innovation through principal component analysis (PCA) and applies a threshold regression... [...] Read more
• Open Access Article Economics

  Macroeconomic Factors, Corporate Governance, Assets Structure, And Firm Value: Nairobi Securities Exchange Kenya

  Barine Nkonge Habakkuk , Kariuki Samuel Nduati, Kariuki Peter Wang’ombe

  11-19

  Abstract Views : 74

  Download :63

  10.36923/economa.v26i1.229

  Abstract: The study investigated the moderating effect of macroeconomic factors on the relationship between corporate governance, asset structure, and the value of firms listed at the Nairobi Securities Exchange in Kenya and set within the broader context of global financial markets, where the value of listed firms has declined despite their significant presence, with over 41,000 firms valued at USD 80 trillion. The study used a causal-comparative... [...] Read more
• Open Access Article Economics

  Modelling The Role of Institutional Change In A Tourism Growth Model: A Dynamic Analysis

  Isah Wada

  71-85

  Abstract Views : 67

  Download :92

  10.36923/iefrontiers.v27i2.250

  Abstract: This study aims to investigate the dynamic relationships among foreign direct investment (FDI), financial development, tourism development, and institutional quality in selected MENA countries. The research focuses on assessing the significance of institutional quality within these interlinked dynamics and its impact on the variables under consideration. The study's objective aligns with UNSDG Goal 16, which aims to promote peaceful and... [...] Read more
• Open Access Article Economics

  Social Capital and Saving Behavior in Ethiopia: Evidence from the Amhara National Regional State

  Fentahun Admassu Yayeh, Wondaferahu Mulugeta Demissie

  01-13

  Abstract Views : 152

  Download :141

  10.36923/iefrontiers.v28i1.254

  Abstract: The paper analyzes the impact of social capital on the saving behavior of members of financial cooperatives in the Amhara Regional State, Ethiopia. Explanatory and mixed research methods were employed using a cross-sectional study of 348 stratified and randomly selected financial cooperative members. Primary data was collected through structured questionnaires, focus group discussions, and personal interviews. The data was further analyzed... [...] Read more
• Open Access Article Economics Digital Economy

  Sustainable Practice of Ifrs And Economic Growth: Evidence From A Case Study on A Developing Country

  Sarfaraz Javed, Sajjad Nazir, Ghulam Mustafa Malik, Azeem Ahmad Khan, Syed Jalil

  57-70

  Abstract Views : 118

  Download :115

  10.36923/iefrontiers.v27i2.242

  Abstract: This research aims to investigate whether there is a link between the adoption of International Financial Reporting Standards (IFRS) and the benefits of Foreign Direct Investment (FDI), both of which were significant contributors to Afghanistan's economic growth between 2003 and 2020. This study uses panel integration and causality assessment. It looks into the underlying causes of the problem in terms of short- and long-term partnerships, as... [...] Read more
• Open Access Article Macroeconomics

  Sustainable Working Capital and Financial Performance in Cement Industry of Pakistan: An OLS Approach*

  Ali Raza, Turgut Tursoy, Sadam Ali Balal

  1-10

  Abstract Views : 110

  Download :173

  10.36923/economa.v26i1.224

  Abstract: This research aims to demonstrate for the first time how the Pakistani cement sector's financial health is impacted by sustainable working capital. The cement Industry uses sustainable working capital techniques and practices for magnificent financial outcomes. Considering the importance of these profitable techniques, we practice these in cement firms with a sample size of 25 cement firms listed in the Pakistan stock market (PSX) from... [...] Read more
• Open Access Article Economics

  The Impact of School Infrastructure on Academic Performance in Cameroon: Empirical Evidence From Cameroon

  Njong Mom Aloysius, Ndamsa Dickson Thomas, Abety Paul, Nguena Christian-Lambert

  31-45

  Abstract Views : 591

  Download :166

  10.36923/iefrontiers.v28i1.285

  Abstract: This study examines the impact of school infrastructure on pupils' academic performance in Cameroon, addressing concerns over persistently low schooling rates and educational outcomes in primary schools. Using cross-sectional secondary data from the PASEC survey conducted across ten Francophone African countries, covering 31,213 pupils from 671 schools in Cameroon. The data were analyzed using descriptive statistics and robust Ordinary Least... [...] Read more
• Open Access Article Financial Management

  The Role of Strategic Financial Management in Enhancing Corporate Value and Competitiveness in the Digital Economy

  Israr Ahmad

  1-08

  Abstract Views : 727

  Download :346

  10.36923/economa.v27i1.116

  Abstract: This study examines how strategic financial management boosts SMEs' corporate value and competitiveness in the fast-changing digital economy. As digital technologies change market landscapes, SMEs face unique challenges and opportunities in aligning their financial strategies with digital transformation. This mixed-methods study combines quantitative regression analysis with qualitative interviews with senior management from technology,... [...] Read more
• Open Access Article Finance

  The Sustainable Growth of Korean Listed Firms in the lens of Pay Disparity and Managerial Overconfidence

  Hansol Lee, Kevin Troy Chua, Minsang Lee

  124-139

  Abstract Views : 133

  Download :23

  10.36923/iefrontiers.v27i2.273

  Abstract: This study aims to assess the impact of pay disparity on the sustainable growth of listed firms in Korea, and to explore how this relationship is influenced by the presence of managerial overconfidence. Employing a fixed-effects regression model, the analysis draws on 10,244 firm-year observations from Korean-listed firms between 2012 and 2022. The findings reveal a significant positive association between pay disparity and the sustainable... [...] Read more
• Open Access Article Economics Macroeconomics

  Tourism, Migration, And Productive Capacity Growth In Sub-Saharan Africa

  Anthony Orji, Elis Moses Onoh, Onyinye Imelda Anthony-Orji, Jonathan Emenike Ogbuabor, Oluchi...

  31-40

  Abstract Views : 22

  Download :5

  10.36923/ie-frontiers.v28i2.406

  Abstract: Productive capacity has emerged as a critical indicator of long-term economic development, particularly for regions undergoing rapid structural transformation, such as Sub-Saharan Africa (SSA). Despite increasing global interest, the key drivers of productive capacity in SSA remain insufficiently explored, especially within the context of tourism and migration. Existing studies predominantly rely on GDP-based growth models and often examine... [...] Read more
• Open Access Article Economics Finance

  Unpacking The Contributing And Mitigating Factors of External Debt In Pakistan: An Ardl And Local Projection Approach

  Ashfaque Ali Gilal, Nor Asmat Ismail, Siti A'sya Baharudin

  13-29

  Abstract Views : 102

  Download :44

  10.36923/iefrontiers.v27i2.244

  Abstract: This study aims to investigate the root causes of burgeoning external debt in Pakistan and to identify potential ways to minimise the growing burden of external debt. By analyzing time series data from 1976 to 2022, using the Auto Regressive Distributive Lag Model (ARDL) bound test and local projection impulse response, the research finds a long-term relationship among remittances, external debt, and other variables. The results indicate that... [...] Read more
• Open Access Article Economics

  VECM Investigation on the Nexus among Government Spending, Oil Revenues, and Economic Growth: Empirical Evidence from the Sultanate of Oman

  Sarfaraz Javed, Uvesh Husain

  1-12

  Abstract Views : 134

  Download :162

  10.36923/iefrontiers.v27i2.241

  Abstract: This study aims to examine the impact of oil resources on the economic growth and government spending in Oman between 1989 and 2018. To enhance economic growth, it is crucial to comprehend how Oman can effectively manage its abundant resources. The objectives are to examine the correlation between oil resources, GDP, and government expenditure; to assess the interconnections that exist in both the short and long run; and to identify the... [...] Read more
• Open Access Article Economics

  Winter is Coming: A Tale of Two Futures – Entrepreneurial State or Creative Destruction?

  Gustavo Morales-Alonso

  86-97

  Abstract Views : 56

  Download :74

  10.36923/iefrontiers.v27i2.256

  Abstract: This paper aims to explore the fundamental principles of sound monetary policy, fiscal prudence, and entrepreneurial innovation, which have historically supported the economic prosperity of nations. It seeks to identify the factors leading to an impending financial crisis and proposes countermeasures based on market liberalization and individual entrepreneurial resilience. Using a critical analysis of prevailing economic conditions, this... [...] Read more