Journal articles on the topic 'International journal of applied management and economics'

Historical Review of IJIF
 This year we celebrate 15 years since the launch of ISRA International Journal of Islamic Finance (IJIF). IJIF started in 2009 under the ownership and management of the International Shari’ah Research Academy for Islamic Finance (ISRA) with the vision to promote further innovation in the Islamic finance industry and academia by providing a platform for publishing high quality research in the areas of Islamic banking, economics, finance, law and takāful. ISRA initially published two issues of the Journal per annum in hard copies. Three types of articles were considered: articles of academic rigour, articles by practitioners who have experience in applied Islamic finance, and the research works carried out by ISRA researchers under the heading ‘Research Notes’.

In the article, we look at scientometric indicators to deal with the issues of reforming the science management system in Russia formed in the 2010th. Among the directions of the reform is to preserve the quality of Russian economic journals in the face of scientific ostracism and the vanishing of international scientometric standards. The theoretical basis of the study is comprised of scientometric management and a set of bibliometric and expert approaches to evaluating research periodicals. The method of comparative analysis was applied. The data for research were retrieved from international citation databases Web of Science and Scopus, as well as the Russian electronic library eLibrary.ru (RSCI). Having performed a comparative analysis of strengths and weaknesses of the scientometric management system, we have developed an organizational scheme for the market of the Russian economic journals, which eliminated distortions in their assessment and kept a prime focus on the content of articles published. The new management paradigm emerging is determined by the specificity of the current stage of world development, which is to diminish the role of scientific journals. The authors propose both a set of strategic measures for the restructuring of the Russian information space and tactical steps that allow the management of Russian periodicals on economics to maintain and enhance their quality. The theoretical and practical value of the study lies in the need to ensure a high level of scientific publications in the context of the disintegration of the world scientific community.

Alfina, I. T., Nurlaela, S., Wijayanti, A. (2018). The influence of profitability, leverage, independent commissioner, and company size to tax avoidance. The 2nd International Conference on Technology, Education, and Social Science 2018, 2018(10), 102–106.Ayu, P. C., Sumadi, N. K. (2019). Pengaruh kepemilikan institusional dan kepemilikan manajerial terhadap nilai perusahaan. Widya Akuntansi Dan Keuangan, 1(1), 87-104.Agyei, S. K., Marfo-Yiadom, E., Ansong, A., Idun, A. A. A. (2020). Corporate tax avoidance incentives of banks in Ghana. Journal of African Business, 21(4), 544-559.Atwood, T. J., Drake, M. S., Myers, J. N., Myers, L. A. (2012). Home country tax system characteristics and corporate tax avoidance: International evidence. American Accounting Association, 87(6), 1831–1860. https://doi.org/10.2308/accr-50222Alkurdi, A., Mardini, G. H. (2020). The impact of ownership structure and the board of directors’ composition on tax avoidance strategies: empirical evidence from Jordan. Journal of Financial Reporting and Accounting, 18(4), 795-812.Alsaadi, A. (2020). Financial-tax reporting conformity, tax avoidance and corporate social responsibility. Journal of Financial Reporting and Accounting, 18(3), 639-659.Andalenta, I., Kun, I. (2022). Tax avoidance among banking corporations. Journal of Science and Research of Accounting 6, 225–233Fauzan. (2019). The effect of LDR, CAR, LAR, loan growth and asset growth on NPL (Case Study on conventional commercial banks listed at Indonesia stock exchange on period 2013-2017). Undergraduate Thesis, Faculty of Economics and Business.Fitri, A. W., Hapsarai, D. P., Haryadi, E. (2019). Pengaruh leverage, komisaris independen dan corporate social responsibility terhadap penghindaran pajak. Jurnal Mahasiswa Akuntansi UNSERA, 1(1), 20-30.Ha, N. M., Trang, T. T. P., Vuong, P. M. (2021). The impact on corporate financial leverage of the relationship between tax avoidance and institutional ownership: A study of listed firms in vietnam. Montenegrin Journal of Economics, 17(4), 65–73. https://doi.org/10.14254/1800-5845/2021.17-4.6Hidayat, O. S. (2019). The effect of corporate social responsibility on tax avoidance with size as moderating variable. Journal of Accounting, Finance Taxation of Indonesia (JAKPI) 7(1).Hoi, C. K., Wu, Q., Zhang, H. (2013). Is corporate social responsibility (CSR) associated with tax avoidance? Evidence from irresponsible CSR activities. The Accounting Review, 88(6), 2025-2059.Jiang, Y., Zheng, H., Wang, R. (2020). The effect of institutional ownership on listed companies’ tax avoidance strategies. Applied Economics, 53(8), 880–896. https://doi.org/10.1080/00036846.2020.1817308Kasim, F. M., Saad, N. (2019). Determinants of corporate tax avoidance strategies among multinational corporations in Malaysia. International Journal of Public Policy and Administration Research, 6(2), 74–81. https://doi.org/10.18488/journal.74.2019.62.74.81Khanh, H. T. M., Khuong, N. V. (2019). Does Corporate tax avoidance influence firm leverage of Vietnamese listed companies? Theoretical Economics Letters, 09(04), 1070–1078. https://doi.org/10.4236/tel.2019.94069Kim, J. H., Im, C. C. (2017). The study on the effect and determinants of small-and medium-sized entities conducting tax avoidance. Journal of Applied Business Research, 33(2), 375–390. https://doi.org/10.19030/jabr.v33i2.9911Kovermann, J. H. (2018). Tax avoidance, tax risk and the cost of debt in a bank-dominated economy. Managerial Auditing Journal, 33(8/9), 683-699.Krisna, A. M. (2019). Effect of institutional ownership and managerial ownership on tax avoidance with audit quality as moderating variable. Journal of Economics, Business And Accounting, 18(2), 82-91.Kurniasih, T., Ratna Sari, M. (2013). Pengaruh return on assets, leverage, corporate governance, ukuran perusahaan dan kompensasi rugi fiskal pada tax avoidance. Buletin Studi Ekonomi, 18(1), 58–66.Lee, R., Kao, H. (2018). The impacts of IFRSs and auditor on tax avoidance. Advances in Management Applied Economics, 8(6), 17–53Liana, L., Sari, P. (2017). The effect of corporate social responsibility on corporate tax avoidance. Diponegoro Journal of Accounting 6(4):111–23.Lin, K. Z., Cheng, S., Zhang, F. (2017). Corporate social responsibility, institutional environments, and tax avoidance: Evidence from a subnational comparison in China. The International Journal of Accounting, 52(4), 303-318. http://dx.doi.org/10.1016/j.intacc.2017.11.002López-González, E., Martínez-Ferrero, J., García-Meca, E. (2019). Does corporate social responsibility affect tax avoidance: Evidence from family firms. Corporate Social Responsibility and Environmental Management, 26(4), 819–831. https://doi.org/10.1002/csr.1723Luty, P. (2020). Tax avoidance in V4 countries and Serbia: Influence of company size on effective tax rate. Finiz, 15(January 2020), 5–11. https://doi.org/10.15308/finiz-2020-5-11Mao, Chih Wen., Wen, Chieh Wu. (2019). Moderated mediation effects of corporate social responsibility performance on tax avoidance: evidence from China. Asia-Pacific Journal of Accounting and Economics 26(1–2) 90–107.Maraya, Dyan, A., Yendrawati, R. (2016). The effect of corporate governance and corporate social responsibility disclosure on tax avoidance: empirical study on mine and CPO Corporations. Journal of Accounting Auditing of Indonesia 20(2):147–59.Maulinda, I. P., Fidiana. (2019). The effect of corporate social responsibility and good corporate governance on tax avoidance. Journal of Science and Research of Accounting 8, 1–21.Muti’ah, Marsyaf, Ahmad, Z. (2021). The influence of sales growth, debt equity ratio (DER) and related party transaction to tax avoidance. International Journal of Management Studies and Social Science Research (IJMSSSR), 3(4), 237–244Nurhasanah. (2017). The effect of asset growth on profitability of banking corporations listed at Indonesia stock exchange. Journal of Visionary Strategic 6, 41–44.Omesi, I., Appah, E. (2021). Corporate governance and tax avoidance of listed consumer and industrial good companies in Nigeria. IOSR Journal of Economic and Finance (IOSR-JEF), 12(2), 17–31. https://doi.org/10.9790/5933-1202041731Putri, R. T., Ulum, I., Prasetyo, A. (2019). Company Risk, size, fiscal loss compensation, and tax avoidance: evidence from Indonesian Islamic companies. Journal of Innovation in Business and Economics, 2(02), 87. https://doi.org/10.22219/jibe.v2i02.7323Taylor, G., Richardson, G. (2012). International corporate tax avoidance practices : evidence from australian firms. International Journal of Accounting, 47(4), 469–496. https://doi.org/10.1016/j.intacc.2012.10.004Tilehnouei, M. H., Esfahani, S. T., Soltanipanah, S. (2018). Investigating the effect of financial distress on tax avoidance during the global financial crisis in companies listed on Tehran stock exchange. International Journal If Finance and Managerial Accounting, 3(9), 41–51Yuliesti, R., Sapari, S. (2017). Pengaruh profitabilitas, likuiditas dan corporate governance terhadap penghindaran pajak. Jurnal Ilmu dan Riset Akuntansi (JIRA), 6(3). 890-909.Salehi, M., Tarighi, H., Shahri, T. A. (2020). The effect of auditor characteristics on tax avoidance of Iranian companies. Journal of Asian Business and Economic Studies, 27(2), 119–134. https://doi.org/10.1108/JABES-11-2018-0100Sari, H. Y., Yuniarti, E., Rachman, A. A. (2022). Pengaruh pertumbuhan aset, ukuran, dan profitabilitas perusahaan terhadap penghindaran pajak (tax avoidance) pada perusahaan sektor pertambangan yang terdaftar di BEI periode 2017-2020. Jurnal Akuntansi Bisnis Dan Ekonomi, 8(1), 2167–2178Shi, A. A., Concepcion, F. R., Laguinday, C. M. R., Ong Hian Huy, T. A. T., Unite, A. A. (2020). An analysis of the effects of foreign ownership on the level of tax avoidance across philippine publicly listed firms. DLSU Business and Economics Review, 30(1), 1–14.DDTC. (2020). Negara tetangga ini terancam makin sulit tangkal penghindaran pajak. News.Ddtc.Co.Id. https://news.ddtc.co.id/negara-tetangga-ini-terancam-makin-sulit-tangkal-penghindaran-pajak--20692#:~:text=Hal itu disampaikan Vietnam Institute for Economic and,hingga triliun dong per tahun selama periode 2010-2018.Wardani, Kusuma, D., Mursiyati. (2019). The effect of profitability, independent commissioners and audit comittee on tax avoidance. Department of Accounting, Faculty of Economic, University of Sarjanawiyata Tamansiswa 7(2), 127–36.Wiguna, I. Putra, P., I. Ketut Jati. (2017). The effect of corporate social responsibility, executive risk preference, and capital intensity on tax avoidance. E-Journal of Accounting 21(1):418–46.Zahirah, A. (2017). The effect of leverage, institutional ownership, managerial ownership and corporate size on tax avoidance. Online Journal for Students of Economics Faculty 4(1), 3543–56. https://lk2fhui.law.ui.ac.id/posisi-firma-hukum-dalam-kasus-panama-papers/ accessed on 20 January 2022

On behalf of our editors and scientific board members, we are delighted to welcome you to the inaugural issue of Forests Monitor. Launching a new journal dedicated to addressing pressing challenges in academic publishing is a significant endeavor, and we would like to share the purpose and focus of Forests Monitor, as well as the unique benefits it offers to readers, reviewers, and prospective authors. The mission of Forests Monitor is to accelerate scientific and practical discourse on the applied science of multifunctional forest ecosystems. By providing a robust platform for exchanging ideas supported by a rigorous peer-review process, we aim to contribute meaningfully to advancing forest management and governance. Our vision for Forests Monitor is to become a premier applied scientific journal that bridges forest ecology and conservation, forest management and planning, and forest policy and economics—all under one umbrella. Forests Monitor seeks to foster scientific development and promote meaningful dialogue by publishing original research articles, comprehensive reviews, thought-provoking opinion pieces, forest perspectives, and book reviews related to multifunctional forest ecosystems. This editorial also summarizes the contributions included in our inaugural issue, where we published five articles, including two research papers and three perspectives on forestry. The contributions address a diverse range of topics across the globe, such as Forest Stewards Guild position statement on climate-smart forestry, forest governance in the Nordic region, defining and monitoring forest disturbances and damages, methods for tracking forest pests in the United States, and the role of retention border zones in enhancing broadleaf habitats within production forests in Sweden. In this editorial, we also want to highlight how you can support our grassroot mission.

<strong>ABSTRACT</strong> The current pandemic has made the business environment more complex and constituted unusual challenges in front of organizations to rebalance and regain the momentum of economic growth in the crisis. The firms have to cast around for varied investment opportunities that proffer sustainable growth and value creation in the long run for the shareholders. This engine of growth can be set in motion by looking for possibilities available within (also known as internal growth) or outside (also known as external growth) of the organization. Mergers and Acquisitions (M&amp;A) are one of the instruments of the external growth that have played a pivotal role across the globe for the business entities of diverse sectors. M&amp;A is a strategic tool that offers both &ndash; short term as well as long term benefits to the acquiring firm. From the literature review, is has been observed that so far the researchers have undertaken the studies to see the short run impact of M&amp;A on the financial performance of the companies after the merger. The present research work is addition to the current body of knowledge, which focus upon the long run aspect of M&amp;A and assess whether M&amp;A has been able to construct value for shareholders by creating a sustenance in financial performance post-merger. To do so, the M&amp;A deals of F.Y. 2004-05, 2005-06 and 2006-07 were studied and a sample of 46 companies comprising of 50 M&amp;A deals covering the 14 different sectors that are in existence till date and the targets have been merged with acquirer have been selected for the study purpose. The DuPont Return on Equity (ROE) model was put in use for comparing a before and after merger financial performance of these companies with the time frame of twelve years &ndash; six years pre and six years post-merger. Further, to arrive at statistical interferences non-parametric test - Wilcoxon signed rank test was applied. The outcome revealed the mixed impact of M&amp;A on all four ratios and no sector specific results were obtained. &nbsp; <strong>REFERENCES</strong> Accenture. (2020). COVID-19: Rebalance for resilience with M&amp;A. https://www.accenture.com/us-en/insights/strategy/coronavirus-mergers-acquisitions-resilience Aggarwal, P., &amp; Garg, S. (2019). Impact of mergers and acquisitions on accounting-based performance of acquiring firms in India. Global Business Review, 0972150919852009. Ersnt&amp; Young, &amp;Krouskos.S. (2020, March). How do you find clarity in the midst of the COVID-19 crisis? (No. 22). EY. https://www.ey.com/en_in/ccb/how-do-you-find-clarity-in-the-midst-of-covid-19-crisis Healy, P. M., Palepu, K. G., &amp;Ruback, R. S. (1992). Does corporate performance improve after mergers?Journal of Financial Economics,31(2), 135-175. Ghosh, A., &amp; Jain, P. C. (2000). Financial leverage changes associated with corporate mergers. Journal of Corporate Finance, 6(4), 377-402. Ghosh, A. (2001). Does operating performance really improve following corporate acquisitions? Journal of Corporate Finance, 7(2), 151-178. Jallow, M. S., Masazing, M., &amp;Basit, A. (2017). The effects of mergers &amp; acquisitions on financial performance: Case study of UK companies. International Journal of Accounting &amp; Business Management, 5(1), 74-92. Kalra, R. (2013). Mergers and Acquisitions: An Empirical Study on the Post-Merger Performance of Selected Corporate Firms in India. IUP Journal of Business Strategy, 10(4). Mantravadi, D. P., &amp; Reddy, A. V. (2008). Post-merger performance of acquiring firms from different industries in India. International Research Journal of Finance and Economics, (22). McKinsey &amp; Company, Sharma, G., &amp;Toshan, T. (2020, July). India&rsquo;s post&ndash;COVID-19 economic recovery: The M&amp;A imperative. https://www.mckinsey.com/business-functions/m-and-a/our-insights/indias-post-covid-19-economic-recovery-the-m-and-a-imperative. Kumar, R. (2009). Post &ndash; merger corporate performance: an Indian perspective. Management Research News. Pazarskis, M., Vogiatzoglou, M., Koutoupis, A., &amp;Drogalas, G. (2021). Corporate mergers and accounting performance during a period of economic crisis: evidence from Greece. Journal of Business Economics and Management, 22(3), 577-595. Pawaskar, V. (2001). Effect of Mergers on Corporate Performance in India. Vikalpa: The Journal for Decision Makers, 26, 19 - 32. Rani, N., Yadav, S.S., &amp; Jain, P.K. (2013). Post M&amp;A operating Performance of IndianAcquiring Firms: A Du Pont Analysis. International Journal of Economics and Finance,5(8), 65-75.  Rani, N., Yadav, S. S., &amp; Jain, P. K. (2015). Financial performance analysis of mergers and acquisitions: evidence from India. International Journal of Commerce and Management.  Leepsa, N. M., &amp; CS, M. (2012). Post acquisition performance of Indian manufacturing companies: an empirical analysis. Asia-Pacific Finance and Accounting Review, 1(1), 17-33. Saboo, S., &amp;Gopi, S. (2009). Comparison of Post-Merger performance of Acquiring Firms (India) involved in Domestic and Cross-border acquisitions. Sathishkumar, T., &amp;Azhagaiah, R. (2014). Impact of Mergers and Acquisitions on Profitability: Evidence from Manufacturing Industry in India. Pacific Business Review International, 7 (1), 93, 104. Shah, B. A. (2019). Shareholder Wealth Effects from Mergers and Acquisitions in the Indian Industry. Indian Journal of Commerce and Management Studies, 10(1), 34-46. Shanmugam, B., &amp; Nair, M. (2004). Mergers and acquisitions of banks in Malaysia. Managerial Finance. Sil, B. K. (2015). A comparative study of pre-and post-merger financial performances of selected pharmaceutical companies in India. IUP Journal of Business Strategy, 12(2), 7. Singh, F., &amp;Mogla, M. (2008). Impact of Mergers on Profitability of Acquiring Companies. ICFAI Journal of Mergers &amp; Acquisitions, 5(2). Verma, N., &amp; Sharma, R. (2013). Impact of mergers on firm&rsquo;s performance: An analysis of the Indian telecom industry. International Journal of Research in Management &amp; Technology, 4(1). &nbsp;

The article analyzes the Early Entrepreneurship Rate (TEA) and the generation of jobs. The results show in the first instance that undertaking in the province of Tungurahua is very complicated. The EAP of the province is 313,018 between men and women; of these, a quarter are employed in more than 42,500 companies, which is why there has been growth in new companies at the provincial level. Finally, the equation is applied where the constant is employment and established companies and these explain the TEA; therefore, the p value of the variables is less than the significance level, that is, the alternative hypothesis is verified, being that the Early Entrepreneurship Rate (TEA) does generate jobs.&#x0D; Keywords: Entrepreneurship, TEA, Employment, Entrepreneurship rate, employment indicators.&#x0D; References&#x0D; [1]A. Kritiko, «Emprendedores y su impacto en el empleo y el crecimiento económico,» DIW Berlin, University of Potsdam, and IZA, Germany, 2019.&#x0D; [2]J. Amorós and N. Bosma, «Global Entrepreneurship Monitor 2013 Global Report,» GEM, 2018.&#x0D; [3]A. Zoltan, «How Is Entrepreneurship Good for Economic Growth?,» 2016.&#x0D; [4]A. Van Stel, «Análisis empírico del espíritu empresarial y el crecimiento económico,» Libro, 2016.&#x0D; [5]D. Ricardo, «Emprender en la nueva era,» Emprendedores LATAM, 2017.&#x0D; [6]J. Ugoani, «Desarrollo Del Emprendimiento Y Generación De Empleo En Nigeria: Un Estudio De La Dirección Nacional De Empleo,» Independent Journal of Management &amp; Production, 2015.&#x0D; [7]E. Bassey, «Impacto del desarrollo empresarial en la creación de empleo en el estado de Cross River: un caso de la Dirección Nacional de Empleo,» International Journal of Academic Research in Economics and Management Sciences,2018.&#x0D; [8]A. Waidi, «Evaluación del desarrollo de habilidades empresariales en la estrategia de generación de empleo en instituciones terciarias en el estado de Lagos,» Economic Insights – Trends and Challenges, Febrero 2021.&#x0D; [9]T. Trang, «Emprendimiento, autoempleo y creación de empleo en Vietnam,» Agricultural Economics and Management-Master's Programme, 2019.&#x0D; [10]M. Hoppe, «The Entrepreneurship Concept: A Short Introduction,» School of Business, Society and Engineering, Mälardalen University, vol. VI, 2016.&#x0D; [11]G. Gintare and G. Lukas, «Investigación de identificación del concepto de emprendimiento: el aspecto teórico,» International Journal of Economics and Financial, Mayo 2016.&#x0D; [12]M. Kruger, «Entrepreneurship Theory And Creativity,» University of Pretoria etd, 2014.&#x0D; [13]Global Entrepreneurship Monitor, «Marco Conceptual del GEM,» Informe 2017 GEM, 2017.&#x0D; [14]OIT, «Empleo,» México Cómo Vamos, 2015.

This study investigated employees’ assessment of impact of information systems on operational efficiency of insurance companies. Specifically, the study drew cross-sectional data from insurance companies in Akwa Ibom state to examine the impact of transaction processing system, decision support system and office automation systems on operational efficiency of insurance companies. A total of 100 employees of insurance companies in Akwa Ibom state were sampled and used in the study and simple random sampling technique was used in selecting the participants who completed the self-structured questionnaire used in data collection for the study. One sample t-test was used in data analysis in the study. Findings indicated that the use of transaction processing system, decision support system and office automation system had significant impact on operational efficiency of insurance companies. It was concluded that information systems influenced operational efficiency of insurance companies and investment in training skilled workforce in information systems was the major recommendation. References Abualoush, S. H., Obeidat, A. M., Tarhini, A., &amp; Al-Badi, A. (2018). The role of employees’ empowerment as an intermediary variable between knowledge management and information systems on employees’ performance. VINE Journal of Information and Knowledge Management Systems, 48(2), 217-237. Akhmedov, R., &amp; Uzhegova, O. (2023). Does the new management information system improve operational efficiency in the banking industry of Kazakhstan? Journal of Economic Research &amp; Business Administration, 145(3), 33-44. Alawamleh, H. A., ALShibly, M. H. A. A., Tommalieh, A. F. A., Al-Qaryouti, M. Q. H., &amp; Ali, B. J. (2021). The challenges, barriers and advantages of management information system development: Comprehensive review. Academy of Strategic Management Journal, 20(5), 1-8. Asemi, A., Safari, A., &amp; Zavareh, A. A. (2011). The role of management information system (MIS) and Decision support system (DSS) for manager’s decision-making process. International Journal of Business and Management, 6(7), 164-173. Asif, M., &amp; Sandhu, M. S. (2023). Social Media Marketing Revolution in Pakistan: A Study of its Adoption and Impact on Business Performance. Journal of Business Insight and Innovation, 2(2), 67-77. Asif, M., &amp; Shaheen, A. (2022). Creating a High-Performance Workplace by the determination of Importance of Job Satisfaction, Employee Engagement, and Leadership. Journal of Business Insight and Innovation, 1(2), 9-15. Bandpey, S., &amp; Niknaghsh, E. (2022). Investigating the role of office automation in improving employee performance. Journal of Industrial Strategic Management, 7(1), 12-21. Bokadarov, S. A., Kravchenko, A. S., Peregudov, A. N., Kulakova, N. G., &amp; Kalach, A. V. (2020, April). Disaster insurance decision support system. In IOP Conference Series: Earth and Environmental Science (Vol. 459, No. 5, p. 052060). IOP Publishing. Dey, P. K. (2001). Decision support system for risk management: a case study. Management Decision, 39(8), 634-649. Gorla, N., Somers, T. M., &amp; Wong, B. (2010). Organizational impact of system quality, information quality, and service quality. Journal of Strategic Information Systems, 19(3), 207–228. https://doi.org/10.1016/j.jsis.2010.05.001 Ingole, A. D., Gharde, S., Lad, S., &amp; Lambade, S. (2019). Automated system for office using Arduino and Android. International Research Journal of Engineering and Technology, 6(4), 3460-3463. Keke, M., Egerega, J., &amp; Emeyazia, I. D. (2021). Design, development and performance evaluation of a smart office automation system. Applied Journal of Physical Science, 3(2), 81-85. Ladan Shagari, S., Abdullah, A., &amp; Mat Saat, R. (2017). Accounting Information Systems Effectiveness: Evidence from the Nigerian Banking Sector. Interdisciplinary Journal of Information, Knowledge, and Management, 12, 309–335. https://doi.org/10.28945/3891 Lee, Y. S., Seo, Y. W., &amp; Siemsen, E. (2018). Running behavioral operations experiments using Amazon's Mechanical Turk. Production and Operations Management, 27(5), 973-989. Massaro, A. (2021). Implementation of a decision support system and business Intelligence algorithms for the automated management of insurance agents’ activities. International Journal of Artificial Intelligence and Applications (IJAIA), 12(3). McDonald, J.H., and K.W. Dunn. (2013). Statistical tests for measures of colocalization in biological microscopy. Journal of Microscopy, (252), pp. 295-302. Mithas, S., Ramasubbu, N., &amp; Sambamurthy, V. (2011). How Information Management Capability Influences Firm Performance. MIS Quarterly: Management Information Systems, 35(1), 237–256. doi.org/10.2307/23043496 Nan, T. (2021, March). Design and Implementation of office automation network security system. In Journal of Physics: Conference Series (Vol. 1802, No. 3, p. 032108). IOP Publishing. Olulekan, Y. and Akinlo, T. (2013) ‘Insurance development and economic growth in Nigeria, 1986-2010’, Journal of Economics and International Finance, 5(5), 218-224 Pearlson, K. E., Saunders, C. S., &amp; Galletta, D. F. (2024). Managing and using information systems: A strategic approach. John Wiley &amp; Sons. Petter, S., DeLone, W., &amp; McLean, E. R. (2013). Information systems success: The quest for the independent variables. Journal of Management Information Systems, 29(4), 7–62. doi:10.2753/MIS0742-1222290401 Rawat, S., Rawat, A., Kumar, D., &amp; Sabitha, A. S. (2021). Application of machine learning and data visualization techniques for decision support in the insurance sector. International Journal of Information Management Data Insights, 1(2), 100012. Setyowati, W., Widayanti, R., &amp; Supriyanti, D. (2021). Implementation of e-business information system in indonesia: Prospects and challenges. International Journal of Cyber and IT Service Management, 1(2), 180-188. Stair, R. M., &amp; Reynolds, G. W. (2018). Fundamentals of information systems. Cengage Learning. Sun, Z., &amp; Kong, X. (2023, September 30). Multi-attribute fuzzy pattern decision making based on information systems. Scientific Reports, 13(1). https://doi.org/10.1038/s41598-023-43753-z Verma, J. (2022). Application of Machine Learning for Fraud Detection–A Decision Support System in the Insurance Sector. In Big Data Analytics in the Insurance Market (pp. 251-262). Emerald Publishing Limited. Wang, Y., &amp; Kogan, A. (2018). Designing confidentiality-preserving Blockchain-based transaction processing systems. International Journal of Accounting Information Systems, 30, 1-18. Yaghoubi, N. M., &amp; Sargazi, A. A. (2014). Investigating the effect of office automation on organizational excellence. International journal of Academic research in Business and Social Sciences, 4(8), 367-375.

This paper presents a bibliometric analysis of inventory models in a sustainable supply chain. The methodology contains reviewing previous research with a performance evaluation, network analysis, and science mapping to identify the applications, trends, and future research topics. Scientific mapping examines the periods and volumes of publications, authors, journals, countries, regions, organizations, subject areas, and citation analyses. The dataset was obtained with the Scopus database and analyzed using MS Excel and VOSviewer. The search equation identified 335 research papers, which resulted in 131 significant manuscripts on the subject after being screened and filtered. The most notable countries in developing research were Iran, India, China, the United States, Canada, Taiwan, France, the United Arab Emirates, Turkey, and Denmark. Saha, S., Ajay, S.Y., and Baboli, A. were the most cited authors. The journals that publish the most research were Sustainability, the Journal of Cleaner Production, and the International Journal of Production Economics. Some research focuses on reducing carbon emissions and polluting agents applied in different industries in China, Brazil, India, and others. The main findings were the number of industry sectors researching this topic, increasing the number of publications, and promoting the proper use of resources within a sustainable supply chain. There are many investigations of theoretical models that have applications in real-life cases. There is also evidence of the high importance of promoting sustainable development. The emissions regulations in a green supply chain applied to agricultural products have allowed for more actions to achieve responsible production and consumption, as seen in applied research in the pulp and paper industry.

Empirical studies proved that good corporate governance had a positive link to the success of an organization. Good in directing and managing organizational processes, structures, and information mean satisfaction guaranteed was given to all stakeholders. Essential factor like working atmosphere may be considered when looking into corporate governance as well as organizational success. However, limited literature focused on the importance of communication climate and its connection to corporate governance and organizational success. Hence, this study looked into the predicting effect of communication climate to perceived corporate governance and organizational success. A total of ninety-eight rank and file employees voluntarily participated in accomplishing three questionnaires such as the Communication Climate Inventory by Costigen &amp; Schiedler; Corporate Governance Survey adapted from Wickramanayake’s Seven Characteristics of Corporate Governance; and Organizational Success Survey adapted from Ilyas &amp; Rafig used to measure communication climate, corporate governance, and organizational success respectively. Results revealed that communication climate was a predictor of perceived corporate governance and organizational success. This implied that the role of supervisors in setting work conditions was essential on how rank and file employees perceived corporate governance and organizational success.ReferencesAbdu Rashid, M., Azman bin Othman, M., Zainudin bin Othman, M., Ain bt Arshad, F. (2015). The influence of work environment on employees job performance: a case study of Administrative staff in a manufacturing industry. Conference on Business Management Research II (CBMR II 2015).Abdussamad, Z. (2015). The influence of communication climate on the employees’ performance at government agencies in Gorontalo city. Asia pacific Journal on Multidisciplinary Research, 3(5).Aggarwal, P. (2013). Corporate governance and corporate profitability. International Journal of Scientific and Research Publication, 3(12).Baloyi, S., Van Waveren, C., &amp; Chan, K. (2014). The rose of supervisor support in predicting employee job satisfaction from their perception of the performance management system: a test of competing models in engineering environments. South African Journal of Industrial Engineering, 25(1), 85-95.Burmeister, E. &amp; Aitken, L. (2012). Sample size: how many is enough. Australian Critical Care. Elsevier.Chaudhary, R., Rangnekar, S., &amp; Kumar Barua, M. (2014). Organizational climate, climate Strength and work engagement. Procedia – Social and Behavioral Sciences, 133, 291-303.Creswell, J. (2012). Educational research planning, conducting, and evaluating quantitative and qualitative research, 4th edition. Boston, Pearson Education, Inc.Deloitte. (2016). Good governance driving corporate performance? A meta-analysis of academic research &amp; invitation to engage in the dialogue. NYENRODE Business Universiteit.Dibra, R. (2016). Corporate governance failure: the case of enron and Parmalat. European Scientific Journal, 12(16).El Nabawy Saleh Dewydar, W. (2015). The optimum relationship between managers and employee. International Journal of Business and Social Science, 6(8).Eluka, J. &amp; Okafor, C. (2014). A critical review of the effects of working conditions on employee performance: evidence from Nigeria. EBS Journal of Management Sciences, 9.Glomo-Narzoles, D. (2012). Communication climate: its relation to institutional productivity. Asian Journal of Social Sciences &amp; Humanities, 1(4).Gupta, P. and Mehta Sharma, A. (2014). A study of the impact of corporate governance practices on firm performance in indian and south Korean companies. Procedia Social and Behavioral Sciences, 133, 4-11.Hasan, B. &amp; Maqsood, A. (2012). Relationship between organizational communication climate and interpersonal conflict management. Pakistan journal of psychology, 42(2).Hove-Sibanda, P., Sibanda, K., &amp; Pooe, D. (2017). The impact of corporate governance on firm competitiveness and performance of small and medium enterprises in south Africa: a case of small and medium enterprises in vanderbijpark. Acta Commercii, 17(1), https://doi.org/10.4102/acv17i1.446Hsiao, J. and Lin, D. (2018). The impacts of working conditions and employee competences of fresh graduates on job expertise, salary and job satisfaction. Journal of Reviews on Global Economics, 7, 246-259.Ilyas, M. &amp; Rafig, M. (2012). Impact of corporate governance on perceived organizational success. International journal of business and social science, 3(13).Ismajli, N., Zekiri, J., Qostja, E., &amp; Krasniqi, I. (2015). The importance of motivation factors on employee performance in Kosovo Municipalities. J Pol Sci Pub Aff 3: 152 https://doi.org/10.4172/2332-0761.1000152.Keay, A. (2017). Stewardship theory: is board accountability necessary? International of Law and Management, 59(6), 1292-1314.Kulkani, R. &amp; Maniam, B. (2014). Corporate governance – indian perspective. International Journal of Trade, Economics, and Finance, 5(4).Kumar, Sar, A. (2018). Impact of corporate governance on sustainability: a study of the indian fmcg industry. Academy of Strategic Management Journal, 17(1).Lantara, A. (2019). The effect of the organizational communication climate and work enthusiasm on employee performance. Management Science Letter, 9, 1243-1256.Le Quang Canh, Kwang Soo Kim, &amp; Yu Yi (2014). Effects of corporate governance on the performance of private economic groups in vietnam. Journal f International Trade &amp; Commerce, 10(6), 39-35.L’huillier, B. (2014). What does “corporate governance” actually mean? Corporate Governance International Journal of Business in Society, 14(3).Lotko, M., Razgale, I., &amp; Vilka, L. (2015). Mutual expectations of employers and employees as a factor affecting employability. The European Journal of Social and Behavioral Sciences, 17.Malik, M., Ahmad, A., Gomez, S., &amp; Ali, M. (2011). A study of work environment and employees’ performance in Pakistan. African Journal of Business Management, vol. 5(34), DOI:10.5897/AJBM11.1502Mallah, T. (2016). Creating an organizational climate for communication internal communication and leadership in a project-based international organization: the case of unops. Unpublished Thesis: Master in International Management, University of Tampere, School of Communication, Media, and Theatre, November 2016.Mat Yasin, F., Muhamad, R., Sulaiman, N. (2014). Corporate governance research: a review of qualitative literature. International Conference on Technology and Business Management, .Meitisari, N., Hanafi, A., &amp; Wahab, Z. (2018). Analysis on the effect of organizational communication climate and career development toward employee performance with job satisfaction. International Journal of Scientific and Research Publication, 8(8).Mohammed, R. and Hussein, A. (2013). Communication climate and organizational performances. https://www.researchgate.net/publication/236133199 Communication Climate and Organizational_PerformancesNaga Parameswari, B. and Yugandhar, V. (2015). The role of human resource management in organizations. International Journal of Engineering Technology, Management and Applied Sciences, 3(7).Neubaum, D., Thomas, C., Dibrell, C., &amp; Craig, J.B. (2017). Stewardship climate scale: measurement and assessment of reliability and validity. Family Business Review, 30(1), 37-60.Nordin, S., Sivapalan, S., Bhattacharyya, E., Hashim, H., Wan Ahmad, W.F., Abdullah. (2014). Organizational communication climate and conflict management: communications management in an oil and gas company. Procedia Social and Behavioral Sciences, 109, 1046-1058.Pardede, E., Hasan Miraza, B., Sirojuzilam, &amp; Lubis, S. (2014). The analysis of communication climate and organizational culture in improving regional development planner’s performance. Asian Journal of Humanities and Social Studies, 2(3).Ragab, O. &amp; Elshazly, E. (2019). Impact of communication climate on nurse’s organizational career growth and empowerment. https://www.researchgate.net/ publication/334721841 _Impact_of_Communication_Climate_on_Nurse's_ Organizational_Career_Growth_ and_Empowerment.Rangarajan, R. (2017). Determination of organizational communication climate in indian Banking system. IOSR Journal of Business and Management, 19(9)Rusu, G, &amp; Avasilcai, S. (2014). Linking human resources motivation to organizational climate. Procedia – Social and Behavioral Sciences, 124, 51-58.Samson, G., Waiganjo, M., &amp; Koima, J. (2015). Effects of workplace environment on the performance of commercial banks employees in Nakuru Town. International Journal of Managerial Studies and Research, 2(12) 76-89.Sawithri, L., Nishanthi, H., Amarasinghe, K. (2017). The impact of employers-employee relations on employee commitment: a case from Sri Lnka. Kelaniya Journal of Human Resource Management, 12(2).Subramanian, K. (2017). Employer employee relationship and impact on organization structure and strategy. International journal of Innovative Trends in Engineering, issue, 43(27).Subramanian, S. (2018). Stewardship theory of corporate governance and value system: the case of a family-owned business group in India. Indian Journal of Corporate Governance, 11(1), 88-102.Sheikh Ali, A., Abdi Ali., &amp; Ali Adan, Abdiqani. (2013). Working conditions and employees’ productivity in manufacturing companies in sub-saharan African context: case of Somalia. Educational Research International. 2, 67-78.Wickramanayake, K. (2007, March 06). Seven Characteristics of Corporate Governance. [Blog post]. https://www.wview.org

ABSTRACT Previous studies mostly measured sharia financial inclusion using an index consisting of three dimensions: accessibility, availability, and usage. This research develops it by adding a digitalization dimension so that there are 4 dimensions in measuring sharia financial inclusion in Indonesia using an index. The first objective of this study is to visually illustrate the results of calculating the sharia financial inclusion index (in map form) in 33 provinces in Indonesia, using GeoDa software. Second, analyze the impact of sharia financial inclusion variables (the 4 form dimensions) that are calculated, on economic fundamental variables (growth, unemployment, poverty, and inequality) through a quantitative approach based on panel data analysis methods (FEM and REM). The secondary data used comes from the Financial Services Authority (OJK) and the Central Statistics Agency (BPS), in the 2015-2020 period. The results of this study indicate that sharia financial inclusion in Indonesia needs to be increased more evenly, so that it is not stagnant and centered in Java or provinces with a communal Muslim base (viewed from the results of index calculations) because the values ​​are unequal between provinces. Meanwhile, the results of panel data analysis techniques show that variables reflecting the 4 dimensions of sharia financial inclusion have an impact on fundamental economic variables. Keywords: Sharia Financial Inclusion, Index, GeoDa, Panel data ABSTRAK Kajian sebelumnya banyak mengukur inklusi keuangan syariah dengan menggunakan indeks yang terdiri dari tiga dimensi: aksessibilitas, availabilitas, dan penggunaan. Penelitian ini mengembangkannya dengan menambah dimensi digitalisasi, sehingga terdapat 4 dimensi dalam mengukur inklusi keuangan syariah di Indonesia menggunakan indeks. Tujuan pertama penelitian ini menggambarkan visual hasil perhitungan indeks inklusi keuangan syariah (dalam bentuk peta) di 33 provinsi yang ada di Indonesia, dengan software GeoDa. Kedua, menganalisis pengaruh variabel inklusi keuangan syariah (4 dimensi pembentuknya) yang dihitung, terhadap variabel fundamental ekonomi (pertumbuhan, tingkat pengangguran, kemiskinan, dan ketimpangan) melalui pendekatan kuantitatif berbasis metode analisis data panel (FEM dan REM). Data yang digunakan bersumber dari Otoritas Jasa Keuangan (OJK) dan Badan Pusat Statistika (BPS), dalam periode 2015-2020. Hasil penelitian ini, menunjukkan bahwa bahwa inklusi keuangan syariah di Indonesia perlu ditingkatkan lebih merata, agar tidak stagnan terpusat di Java atau provinsi dengan basis muslim komunal, jika dilihat dari hasil perhitungan indeks yang nilainya timpang antar porvinsi. Sementara itu, hasil teknik analisis data panel menunjukkan bahwa variabel yang mencerminkan 4 dimensi inklusi keuangan syariah berdampak bagi variabel fundamental ekonomi. Kata Kunci: Inklusi Keuangan Sharia, Indeks, Geoda, Data Panel. REFERENCES Allen, J., Cars, G., &amp; Madanipour, A. (2012). Social exclusion in European cities: processes, experiences and responses. London: Routledge. Alshyab, N., Sandri, S., &amp; Daradkah, D. (2021). The effect of financial inclusion on unemployment reduction-evidence from non-oil producing Arab countries. International Journal of Business Performance Management, 22(2-3), 100-116. Amakor, I. C., &amp; Eneh, O. (2021). Financial inclusion and unemployment rate in Nigeria. International Journal of Research (IJR), 8(11), 1-14. Ananzeh, I. E. N. (2016). Relationship between bank credit and economic growth: Evidence in Jordan. International Journal of Financial Research, 7(2), 53-63. doi:10.5430/ijfr.v7n2p53 Anwar, K., &amp; Amri, A. (2017). Pengaruh inklusi keuangan terhadap PDB Indonesia. Jurnal Ilmiah Mahasiswa Ekonomi Pembangunan, 2(3), 454-462. Arsyad, L. (2014). Konsep dan pengukuran pembangunan ekonomi. Modul Lincolin Arsyad, 1-46. Bansal, S. (2014). Perspective of technology in achieving financial inclusion in rural India. Procedia Economics and Finance, 11, 472-480. Demirgüç-Kunt, A., Beck, T. H. L., &amp; Honohan, P. (2008). Finance for all? Policies and pitfalls in expanding access (No. aec73d3a-d6eb-457f-9182-3946fd15f0bc). Tilburg: Tilburg University, School of Economics and Management. Dienillah, A. A., &amp; Anggraeni, L. (2016). Dampak inklusi keuangan terhadap stabilitas sistem keuangan di Asia. BMEB: Bulletin of Monetery Economics and Banking, 18(4), 409-430. doi:10.21098/bemp.v18i4.574 Fauzan, I. F. (2020). Determinan inklusi keuangan di Indonesia dengan pendekatan panel spasial. Disertasi. Program Doktoral IPB University. Bogor. Fosu, S. B., &amp; Hampshire, N. (2013). Financial development and economic growth in Africa: A dynamic causal relationship. Thesis. The Degree of Master of Arts in Economics University of New Hampshire. Durham. Gupta, A., Chotia, V., &amp; Rao, N. M. (2014). Financial inclusion and human development: A state-wise analysis from India. International Journal of Economics, Commerce and Management, 2(5), 1-23. Gurley, J. G., dan Shaw E. S. (1955). Financial aspects of economic development. The American Economic Review, 45(4), 515–538. Honohan, P. (2004). Financial development, growth and poverty: How close are the links? In E. C. Goodhard, ed., Financial development and economic growth: Explaining the links. London: Palgrave. Honohan, P. (2008). Cross-country variation in household access to financial services. Journal of Banking &amp; Finance, 32(11), 2493-2500. doi:10.1016/j.jbankfin.2008.05.004 Ka’abi, M. S. (2020). Relevansi pemikiran ekonomi muhammad baqir as-sadr dalam keadilan distribusi beras di Indonesia. Skripsi. Program Sarjana Program Studi Ekonomi Syari;ah Institut Agama Islam Negeri Jember. Jember. Kim, D. W., Yu, J. S., &amp; Hassan, M. K. (2018). Financial inclusion and economic growth in OIC countries. Research in International Business and Finance, 43, 1-14. doi:10.1016/j.ribaf.2017.07.178 Lakshmi, P., &amp; Visalakshmi, S. (2013). Impact of cooperatives in financial inclusion &amp; comprehensive development. Journal of Finance and Economics, 1(3), 49-53. doi:10.12691/jfe-1-3-4 Leyshon, A., &amp; Thrift, N. (1995). Geographies of financial exclusion: financial abandonment in Britain and the United States. Transactions of the Institute of British Geographers, 20(3), 312-341. doi:doi.org/10.2307/622654 Lucas, R. E. (1988). On the mechanics of economic development. Journal Of Monetary Economics, 22(1), 3-42. doi:10.1016/0304-3932(88)90168-7 Luo, J., &amp; Li, B. Z. (2022). Impact of digital financial inclusion on consumption inequality in China. Social Indicators Research, 163(2), 529-553. doi:10.1007/s11205-022-02909-6 Masnita, Y., Triyowati, H., &amp; Khomsiyah, K. (2020). Pemberdayaan lembaga keuangan syariah dalam meningkatkan peran inklusi keuangan. JUARA: Jurnal Wahana Abdimas Sejahtera, 1(1), 26-37. doi:10.25105/juara.v1i1.5911 McKinnon, R. I. (1973). Money and capital in economic development. Washington, DC: Brookings Institution. Mehry, E. B., Ashraf, S., &amp; Marwa, E. (2021). The impact of financial inclusion on unemployment rate in developing countries. International Journal of Economics and Financial Issues, 11(1), 79-93. doi:10.32479/ijefi.10871 Miller, M. H. (1988). Financial markets and economic growth. Journal of Applied Corporate Finance, 11(5):8−15. doi:10.1111/j.1745-6622.1998.tb00498.x Mohieldin, M., Iqbal, Z., Rostom, A., &amp; Fu, X. (2011). The role of Islamic finance in enhancing financial inclusion in Organization of Islamic Cooperation (OIC) countries. World Bank Group: Policy Research Working Paper. doi:10.1596/1813-9450-5920 Neaime, S. &amp; Gaysset. (2018). Financial inclusion and stability in MENA: Evidence from poverty and inequality. Finance Research Letters, 24,230-237. doi:10.1016/j.frl.2017.09.007 Nkwede, F. (2015). Financial inclusion and economic growth in Africa: Insight from Nigeria. European Journal of Business and Management, 7(35), 71-80. Omar, M. A., &amp; Inaba, K. (2020). Does financial inclusion reduce poverty and income inequality in developing countries? A panel data analysis. Journal of economic structures, 9(1), 1-25. doi:10.1186/s40008-020-00214-4 Park, C. Y., &amp; Mercado Jr, R. (2018). Financial inclusion, poverty, and income inequality. The Singapore Economic Review, 63(01), 185-206. doi:10.1142/S0217590818410059 Patrick, H. T. (1966). Financial development and economic growth in underdeveloped countries. Economic development and Cultural change, 14(2), 174-189. Polloni-Silva, E., da Costa, N., Moralles, H. F., &amp; Sacomano Neto, M. (2021). Does financial inclusion diminish poverty and inequality? A panel data analysis for Latin American countries. Social Indicators Research, 158(3), 889-925. Puspitasari, S., Mahri, A. J. W., &amp; Utami, S. A. (2020). Indeks inklusi keuangan syariah di Indonesia tahun 2015-2018. Amwaluna: Jurnal Ekonomi dan Keuangan Syariah, 4(1), 15-31. doi:10.29313/amwaluna.v4i1.5094 Riswanto, A., Tanjung, H., &amp; Devi, A. (2021). Dampak inklusi keuangan dan bank syariah terhadap kesehatan dan pendidikan nasional. El-Mal: Jurnal Kajian Ekonomi &amp; Bisnis Islam, 2(2), 1-26. doi:10.47467/elmal.v2i2.518 Rostow, W. W. (1959). The stages of economic growth. The Economic History Review, 12(1), 1-16. doi:10.2307/2591077 Robinson, J. (1952). The generalization of the general theory. In The Rate of Interest and Other Essays. London: MacMillan. Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5):71−102. Romer, P. M. (1986). Increasing returns and long-run growth. Journal of Political, 94(5):1002−1037. Sanjaya, I. M., &amp; Nursechafia, N. (2016). Financial inclusion and inclusive growth: A cross-province analysis in Indonesia. BMEB: Buletin of Monetary Economics and Banking, 18(3), 281-306. doi:10.21098/bemp.v18i3.551 Sarma, M. (2012). Index of financial inclusion–a measure of financial sector inclusiveness. Centre for International Trade and Development, School of International Studies Working Paper Javaharlal Nehru University. Delhi, India. Sarma, M., &amp; Pais, J. (2011). Financial inclusion and development. Journal of International Development, 23(5), 613-628. doi:10.1002/jid.1698 Schumpeter, J. (1911). The theory of economic development: An inquiry into profits, capital, credit, interest and the business cycle. Cambridge: Harvard University Press. Sethi, D., &amp; Acharya, D. (2018). Financial inclusion and economic growth linkage: Some cross country evidence. Journal of Financial Economic Policy, 10(3), 369-385. doi:10.1108/JFEP-11-2016-0073 Simatupang, M., Sinaga, B. M., Hartoyo, S. &amp; Haryanto (2020). Impact of financial inclusion, government expenditures in education and health sectors on human development in Indonesia. Journal of Economic Development, Environment and People, 9(2), 5-17. doi:10.26458/jedep.v9i2.643 Singh, K., &amp; Kondan, A. S. (2011). Financial inclusion, development and its determinants: An empirical evidence of indian states. The Asian Economic Review: Journal of the Indian Institute of Economics, 53(1), 115-134. Siswa, I., &amp; Agustin, G. (2020). Analisis pengaruh inklusi keuangan terhadap indeks pembangunan manusia di Indonesia tahun 2015. Jurnal Ilmiah Ekonomi dan Bisnis, 17(2), 121-130. doi:10.31849/jieb.v17i2.4091 Umar, A. I. (2017). Index of syariah financial inclusion in Indonesia. BMEB: Buletin of Monetary Economics and Banking, 20(1), 99-126. doi:10.21098/bemp.v20i1.726

International Business Research wishes to acknowledge the following individuals for their assistance with peer review of manuscripts for this issue. Their help and contributions in maintaining the quality of the journal are greatly appreciated.International Business Research is recruiting reviewers for the journal. If you are interested in becoming a reviewer, we welcome you to join us. Please find the application form and details at http://recruitment.ccsenet.org and e-mail the completed application form to ibr@ccsenet.org.Reviewers for Volume 10, Number 10Alina Badulescu, University of Oradea, RomaniaAshford C Chea, Benedict College, USAAtallah Ahmad Alhosban, Aqaba University of Technology, JordanAurelija Burinskiene, Vilnius Gediminas Technical University, LithuaniaBenjamin James Inyang, University of Calabar, NigeriaCelina Maria Olszak, University of Economics in Katowice, PolandDea’a Al-Deen Al-Sraheen, Al-Zaytoonah University of Jordan, JordanEjindu Iwelu MacDonald Morah, University of Westminster, London, UKEva Mira Bolfíková, Univerzity of P. J. Šafárik in Košice, Slovak RepublicFederica De Santis, University of Pisa , ItalyFlorin Ionita, The Bucharest Academy of Economic Studies, RomaniaFoued Hamouda, Ecole Supérieure de Commerce, TunisiaFrancesco Ciampi, Florence University, ItalyHanna Trojanowska, Warsaw University of Technology, PolandHerald Monis, Milagres College, IndiaHongliang Qiu, Tourism College of Zhejiang, ChinaHsiao-Ching Kuo, Washington and Jefferson College, USAHung-Che Wu, Nanfang College of Sun Yat-sen University, ChinaJoanna Katarzyna Blach, University of Economics in Katowice, PolandJorge Mongay-Hurtado, ESIC Business and Marketing School, SpainMansour Esmaeil Zaei, Panjab University, India/IranMarcelino José Jorge, Evandro Chagas Clinical Research Institute of Oswaldo Cruz Foundation, BrazilMaria Teresa Bianchi, University of Rome “LA SAPIENZA”, ItalyMithat Turhan, Mersin University, TurkeyMuath Eleswed, American University of Kuwait, USAPascal Stiefenhofer, University of Brighton, UKRadoslav Jankal, University of Zilina, SlovakiaRafiuddin Ahmed, James Cook University, AustraliaRoberto Campos da Rocha Miranda, University Center Iesb, BrazilRoxanne Helm Stevens, Azusa Pacific University, USASang-Bing Tsai, University of Electronic Science and Technology of China, ChinaSerhii Kozlovskiy, Donetsk National University, UkraineShun Mun Helen Wong, The Hong Kong Polytechnic University, Hong KongSumathisri Bhoopalan, Sastra University, IndiaVassili JOANNIDES de LAUTOUR, Grenoble École de Management (France) and Queensland University of Technology School of Accountancy (Australia), FranceVincent Grèzes, University of Applied Sciences Western Switzerland (HES-SO Valais-Wallis), SwitzerlandWejdene Yangui, Institute of High Business Studies of Sfax _ Tunisia (IHEC), Tunisia

The paper investigates the impact of financial integration and energy consumption on economic growth in Vietnam during the period 1986–2017. By applying the Autoregressive Distributed Lag ARDL) approach proposed by Pesaran et al. [Pesaran, MH, Y Shin and RJ Smith (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326.] and the bounds cointegration test, the empirical results show the existence of long-term cointegration among all the variables, and that an increase in financial integration leads to an increase in economic growth in the long run. There is a positive impact of energy consumption on growth in both the short run and long run. The causality test of Toda and Yamamoto [Toda, HY and T Yamamoto (1995). Statistical inference in vector autoregressions with possibly integrated processes. Journal of Econometrics, 66(1–2), 225–250.] confirm that there is bi-directional causality between the pairs, financial integration and economic growth, and energy consumption and growth, which support the feedback hypothesis. However, there is only uni-directional causality from energy consumption to financial integration. The empirical results should be of major empirical importance for public policy decision-makers to plan sustainable development goals for Vietnam.

This research note presents the results of a bibliometric analysis that was conducted to better understand the impact that Sustainable Forest Management Network (SFMN) funded research had in the forest-related social and Aboriginal research communities. We applied two indicators of research impact: (i) research outputs and (ii) citations. Our results suggest that the SFMN’s research outputs were highest in the fields of economics, sociology, and political science and law. The number of research articles that acknowledged the SFMN was 30% of the total research output of the SFMN-funded Principal Investigators. These articles represented 3% of the social science articles published in the Forestry Chronicle (the journal most frequently used by SFMN-funded Principal Investigators). Research output related to Aboriginal forestry indicated that the SFMN had a significant influence on the development of the field. Our citation analysis indicated that the average number of citations per SFMN-acknowledged publication in the social sciences was approximately the same as the international impact standard in the field. These results suggest that the SFMN-funded research in the social sciences compared very well with the international research standards in forest-related social sciences.

This research focuses on the impact of "Transactional leader’s behaviour on job performance of knowledge employees". Taking enterprise knowledge employees as the research object and by introducing the psychological empowerment as the mediating variable, this research explores the impact of transactional leadership style on the job performance of knowledge employees. The first part is the introduction, which introduces the background of the study, research gap, problem statement, research questions, research objectives, and significance of the study, assumptions and delimitations, definition of key words. The second part is the literature review, which reviews the previous researches on the concepts, affecting factors and dimensions of research variables such as transactional leadership style, employee work performance and psychological empowerment. These laid a solid theoretical foundation for this research. The third part is the research design. On the basis of the previous research, the research model of this paper is constructed, there search hypothesis proposed and the research questionnaire designed by referring to the mature scale studied by the previous researchers. The fourth part is empirical research, which takes knowledge employees of state-owned enterprises in Pakistan as the research object. A total of 662 respondents data were obtained by means of questionnaire survey, and the reliability and validity analysis, difference analysis, correlation analysis, main hypothesis test and adjustment effect test were conducted on the collected data using SmartPLS V.3 and SPSS 25.0, partly verifying the theoretical model and research hypothesis. The fifth part is conclusion and prospect. This study draws research conclusions through the empirical research data results. Based on results, this research offers some suggestions to the managers of the state owned enterprise for the actual management of knowledge employees from the aspect of leadership style. References Ambad, S. N. A., Kalimin, K. M., Damit, D. H. D. A., &amp; Andrew, J. V. (2021). The mediating effect of psychological empowerment on leadership styles and task performance of academic staff. Leadership &amp; Organization Development Journal, 42(5), 763-782. Antonopoulou, H., Halkiopoulos, C., Barlou, O., &amp; Beligiannis, G. N. (2021). Transformational leadership and digital skills in higher education institutes: during the COVID-19 pandemic. Emerging science journal, 5(1), 1-15. Asif, M. (2021). Contingent Effect of Conflict Management towards Psychological Capital and Employees’ Engagement in Financial Sector of Islamabad [PhD Dissertation, Preston University, Kohat, Islamabad Campus.]. Islamabad. Asif, M., Khan, A., &amp; Pasha, M. A. (2019). Psychological Capital of Employees’ Engagement: Moderating Impact of Conflict Management in the Financial Sector of Pakistan. Global Social Sciences Review, IV(III), 160-172. Aurangzeb, Mushtaque, T., Tunio, M. N., Zia ur, R., &amp; Asif, M. (2021). INFLUENCE OF ADMINISTRATIVE EXPERTISE OF HUMAN RESOURCE PRACTITIONERS ON THE JOB PERFORMANCE: MEDIATING ROLE OF ACHIEVEMENT MOTIVATION. International Journal of Management (IJM), 12(4), 408-421. Baskoro, B. D. (2021). The nexus of transactional leadership, knowledge sharing behavior and organizational creativity: empirical evidence from construction workers in Jakarta. Journal of Work-Applied Management. Bass, B. M., &amp; Riggio, R. E. (2006). Transformational leadership. Psychology press. Bhardwaj, B., &amp; Kalia, N. (2021). Contextual and task performance: role of employee engagement and organizational culture in hospitality industry. Vilakshan-XIMB Journal of Management. Bian, X., Sun, Y., Zuo, Z., Xi, J., Xiao, Y., Wang, D., &amp; Xu, G. (2019). Transactional leadership and employee safety behavior: Impact of safety climate and psychological empowerment. Social Behavior and Personality: an international journal, 47(6), 1-9. Chuang, Y.-T., Chiang, H.-L., Lin, A.-P., &amp; Lien, Y.-C. (2022). Dual crossover mechanisms of benevolent supervision on followers' contextual performance and emotional exhaustion alleviation. Leadership &amp; Organization Development Journal. Dust, S. B., Resick, C. J., &amp; Mawritz, M. B. (2014). Transformational leadership, psychological empowerment, and the moderating role of mechanistic–organic contexts. Journal of Organizational Behavior, 35(3), 413-433. Fu, Q., Cherian, J., Ahmad, N., Scholz, M., Samad, S., &amp; Comite, U. (2022). An Inclusive Leadership Framework to Foster Employee Creativity in the Healthcare Sector: The Role of Psychological Safety and Polychronicity. International Journal of Environmental Research and Public Health, 19(8), 4519. Gong, Z., Li, M., &amp; Niu, X. (2021). The role of psychological empowerment in reducing job burnout among police officers: a variable-centered and person-centered approach. SAGE Open, 11(1), 2158244020983305. Hosseini, E., Ardekani, S. S., Sabokro, M., &amp; Salamzadeh, A. (2022). The study of knowledge employee voice among the knowledge-based companies: the case of an emerging economy. Revista de Gestão. Ilyas, S., Abid, G., Ashfaq, F., Ali, M., &amp; Ali, W. (2021). Status quos are made to be broken: The roles of transformational leadership, job satisfaction, psychological empowerment, and voice behavior. SAGE Open, 11(2), 21582440211006734. Iqbal, K., Naveed, M., Subhan, Q. A., Fatima, T., &amp; Alshahrani, S. T. (2022). When Self-Sacrificial Leaders Induce Employees’ Citizenship Behaviors? Uncovering the Nexus of Psychological Empowerment and Psychological Well-Being. SAGE Open, 12(1), 21582440221085257. Jaroliya, D., &amp; Gyanchandani, R. (2021). Transformational leadership style: a boost or hindrance to team performance in IT sector. Vilakshan-XIMB Journal of Management. Johannessen, J.-A. (2021). Leadership tools to increase the motivation of knowledge workers. In Continuous Change and Communication in Knowledge Management. Emerald Publishing Limited. Kalsoom, Z., Khan, M. A., &amp; Zubair, D. S. S. (2018). Impact of transactional leadership and transformational leadership on employee performance: A case of FMCG industry of Pakistan. Industrial engineering letters, 8(3), 23-30. Kiker, D. S., &amp; Motowidlo, S. J. (2020). Main and interaction effects of task and contextual performance on supervisory reward decisions. Journal of applied psychology, 84(4), 602. Koopmans, L., Bernaards, C., Hildebrandt, V., Van Buuren, S., Van der Beek, A. J., &amp; De Vet, H. C. (2013). Development of an individual work performance questionnaire. International journal of productivity and performance management. Kyei-Frimpong, M., Adu, I. N., Suleman, A.-R., &amp; Boakye, K. O. (2022). In search of performance-oriented leadership behaviours in the Ghanaian financial service sector: the role of knowledge sharing. Journal of Work-Applied Management. Leitão, M., Correia, R. J., Teixeira, M. S., &amp; Campos, S. (2022). Effects of leadership and reward systems on employees' motivation and job satisfaction: an application to the Portuguese textile industry. Journal of Strategy and Management. Li-Chaoping, X., Shi-Kan-,Chen-Xuefeng. (2006). Psychological Empowerment: Measurement and its Effect on Employees’ Work Attitude in China. Acta Psychologica Sinica, 38(01), 99-106. {https://journal.psych.ac.cn/acps/CN/abstract/article_1094.shtml} Lin, C.-P., Huang, H.-T., &amp; Huang, T. Y. (2020). The effects of responsible leadership and knowledge sharing on job performance among knowledge workers. Personnel Review. Muliati, L., Asbari, M., Nadeak, M., Novitasari, D., &amp; Purwanto, A. (2022). Elementary School Teachers Performance: How The Role of Transformational Leadership, Competency, and Self-Efficacy? International Journal of Social and Management Studies, 3(1), 158-166. Mumtaz, A., Munir, N., Mumtaz, R., Farooq, M., &amp; Asif, M. (2023). Impact Of Psychological &amp; Economic Factors On Investment Decision-Making In Pakistan Stock Exchange. Journal of Positive School Psychology, 7(4), 130-135. Ölçer, F., &amp; Florescu, M. (2015). Mediating effect of job satisfaction in the relationship between psychological empowerment and job performance. Theoretical and Applied Economics, 22(3), 111-136. Qasim, M., Irshad, M., Majeed, M., &amp; Rizvi, S. T. H. (2021). Examining Impact of Islamic work ethic on task performance: mediating effect of psychological capital and a moderating role of ethical leadership. Journal of Business Ethics, 1-13. Sahibzada, U. F., Jianfeng, C., Latif, K. F., Shafait, Z., &amp; Sahibzada, H. F. (2022). Interpreting the impact of knowledge management processes on organizational performance in Chinese higher education: mediating role of knowledge worker productivity. Studies in Higher Education, 47(4), 713-730. Shah, S. M. M., &amp; Hamid, K. B. A. (2015). Transactional leadership and job performance: An empirical investigation. Sukkur IBA Journal of Management and Business, 2(2), 74-85. Siachou, E., Trichina, E., Papasolomou, I., &amp; Sakka, G. (2021). Why do employees hide their knowledge and what are the consequences? A systematic literature review. Journal of Business Research, 135, 195-213. Soleimani, M., Dana, L. P., Salamzadeh, A., Bouzari, P., &amp; Ebrahimi, P. (2022). The effect of internal branding on organisational financial performance and brand loyalty: mediating role of psychological empowerment. Journal of Asian Business and Economic Studies. Spreitzer, G. M. (1995). Psychological empowerment in the workplace: Dimensions, measurement, and validation. Academy of management Journal, 38(5), 1442-1465. Sun, X. (2016). Psychological empowerment on job performance—mediating effect of job satisfaction. Psychology, 7(04), 584. Teoh Yi Zhe, I., &amp; Keikhosrokiani, P. (2021). Knowledge workers mental workload prediction using optimised ELANFIS. Applied Intelligence, 51(4), 2406-2430. Van Zyl, L. E., Van Oort, A., Rispens, S., &amp; Olckers, C. (2021). Work engagement and task performance within a global Dutch ICT-consulting firm: The mediating role of innovative work behaviors. Current Psychology, 40(8), 4012-4023. Wang, W.-T., Wang, Y.-S., &amp; Chang, W.-T. (2019). Investigating the effects of psychological empowerment and interpersonal conflicts on employees’ knowledge sharing intentions. Journal of knowledge management. Zhu, W., Sosik, J. J., Riggio, R. E., &amp; Yang, B. (2012). Relationships between transformational and active transactional leadership and followers’ organizational identification: The role of psychological empowerment. Journal of Behavioral and Applied Management, 13(3), 168-212.

This study examines the dynamics of volatility Spillover among the US and emerging Asian Stock markets (China, Pakistan, India, Malaysia and Korea) amid the COVID-19 pandemic. The analysis used data of daily stock returns and the time period is divided into two phases: pre and during COVID-19. The pre period is from November 1st, 2017 to November 30th, 2019 and during period is from December 1st, 2019 to December 31st, 2021. The pre-period has been taken for comparative purpose. The Spillover index method provided by Diebold and Yilmaz (2012) is use to check these dynamics. The findings indicate the presence of integration and the asymmetric volatility Spillover among these sampled stock markets. The transmission pattern of volatility Spillover is bidirectional. The Korean Composite Stock Price Index (KOSPI) is the only market that transmitted less and also received less volatility Spillover from other stock markets. The US (S&amp;P 500) being highly affected country by pandemic transmitted higher volatility Spillover to others rather than receiving while China being pandemic originating country lies on a moderate level; not highly affected by others nor affect others. The findings of the present study help investors and portfolio managers to diversify their portfolio accordingly while help policy makers to design strategies to protect their financial markets from future uncertain events. The study have significant implications for risk minimization and portfolio diversification. References Acatrinei, M., Gorun, A., &amp; Marcu, N. (2013). A Dcc-Garch Model to Estimate. Romanian Journal of Economic Forecasting, 1(2013), 136-148. AlAli, M. S. (2020). The effect of who COVID-19 announcement on Asian Stock Markets returns: an event study analysis. Journal of Economics and Business, 3(3). Alber, N. (2020). The effect of coronavirus spread on stock markets: The case of the worst 6 countries. Available at SSRN 3578080. Arshanapalli, B., &amp; Doukas, J. (1993). International stock market linkages: Evidence from the pre-and post-October 1987 period. Journal of Banking &amp; Finance, 17(1), 193-208. Ashraf, B. N. (2020a). Economic impact of government interventions during the COVID-19 pandemic: International evidence from financial markets. Journal of behavioral and experimental finance, 27, 100371. Ashraf, B. N. (2020b). Stock markets’ reaction to COVID-19: Cases or fatalities? Research in International Business and Finance, 54, 101249. Asif, M. (2022). Integration of Information Technology in Financial Services and its Adoption by the Financial Sector in Pakistan. Inverge Journal of Social Sciences, 1(2), 23-35. Asif, M., Adil Pasha, M., Shafiq, S., &amp; Craine, I. (2022). Economic Impacts of Post COVID-19. Inverge Journal of Social Sciences, 1(1), 56-65. https://doi.org/10.1022/ijss.v1i1.6 Azimli, A. (2020). The impact of COVID-19 on the degree of dependence and structure of risk-return relationship: A quantile regression approach. Finance Research Letters, 36, 101648. Bakas, D., &amp; Triantafyllou, A. (2020). Commodity price volatility and the economic uncertainty of pandemics. Economics Letters, 193, 109283. Baker, S. R., Bloom, N., Davis, S. J., &amp; Terry, S. J. (2020). Covid-induced economic uncertainty. Baruník, J., Kocenda, E., &amp; Vácha, L. (2015). Volatility spillovers across petroleum markets. The Energy Journal, 36(3). Bekaert, G., &amp; Harvey, C. R. (2003). Market integration and contagion. In: National Bureau of Economic Research Cambridge, Mass., USA. Billio, M., Donadelli, M., Paradiso, A., &amp; Riedel, M. (2017). Which market integration measure? Journal of Banking &amp; Finance, 76, 150-174. Bissoondoyal-Bheenick, E., Do, H., Hu, X., &amp; Zhong, A. (2021). Learning from SARS: Return and volatility connectedness in COVID-19. Finance Research Letters, 41, 101796. Biswas, D. (2015). The effect of portfolio diversification theory: Study on modern portfolio theory of stock investment in the national stock exchange. Journal of Commerce and Management Thought, 6(3), 445-455. Calvo, S. G., &amp; Reinhart, C. M. (1996). Capital flows to Latin America: is there evidence of contagion effects? Available at SSRN 636120. Clark, T. E., &amp; West, K. D. (2007). Approximately normal tests for equal predictive accuracy in nested models. Journal of econometrics, 138(1), 291-311. Diebold, F. X., &amp; Yilmaz, K. (2009). Measuring financial asset return and volatility spillovers, with application to global equity markets. The Economic Journal, 119(534), 158-171. Diebold, F. X., &amp; Yilmaz, K. (2012). Better to give than to receive: Predictive directional measurement of volatility spillovers. International Journal of forecasting, 28(1), 57-66. El-Basuon, H. (2020). Effect of COVID-19 on the Arab financial markets evidence from Egypt and KSA. IOSR Journal of Business and Management, 22(6), 14-21. Elsayed, A., &amp; Abdelrhim, M. (2020). The Effect Of COVID-19 Spread On Egyptian Stock Market Sectors. Available at SSRN 3608734. Engle III, R. F., Ito, T., &amp; Lin, W.-L. (1988). Meteor showers or heat waves? Heteroskedastic intra-daily volatility in the foreign exchange market. In: National Bureau of Economic Research Cambridge, Mass., USA. Engle, R. (2002). Dynamic conditional correlation: A simple class of multivariate generalized autoregressive conditional heteroskedasticity models. Journal of Business &amp; Economic Statistics, 20(3), 339-350. Engle, R. F., &amp; Kroner, K. F. (1995). Multivariate simultaneous generalized ARCH. Econometric theory, 11(1), 122-150. Evans, O. (2020). Socio-economic impacts of novel coronavirus: The policy solutions. BizEcons Quarterly, 7, 3-12. Faque, M., &amp; Hacioglu, U. (2021). Investigating the impact of Covid-19 pandemic on stock markets: Evidence from global equity indices. International Journal of Research in Business and Social Science (2147-4478), 10(7), 199-219. Gates, B. (2020). Responding to Covid-19—a once-in-a-century pandemic? New England Journal of Medicine, 382(18), 1677-1679. Ghorbel, A., &amp; Jeribi, A. (2021). Volatility spillovers and contagion between energy sector and financial assets during COVID-19 crisis period. Eurasian Economic Review, 11(3), 449-467. Goodell, J. W. (2020). COVID-19 and finance: Agendas for future research. Finance Research Letters, 35, 101512. Gormsen, N. J., &amp; Koijen, R. S. (2020). Coronavirus: Impact on stock prices and growth expectations. The Review of Asset Pricing Studies, 10(4), 574-597. Gulzar, S., Mujtaba Kayani, G., Xiaofen, H., Ayub, U., &amp; Rafique, A. (2019). Financial cointegration and spillover effect of global financial crisis: A study of emerging Asian financial markets. Economic research-Ekonomska istraživanja, 32(1), 187-218. Ito, T., Engle, R. F., &amp; Lin, W.-L. (1992). Where does the meteor shower come from?: The role of stochastic policy coordination. Journal of international economics, 32(3-4), 221-240. Jebran, K., Chen, S., Ullah, I., &amp; Mirza, S. S. (2017). Does volatility spillover among stock markets varies from normal to turbulent periods? Evidence from emerging markets of Asia. The Journal of Finance and Data Science, 3(1-4), 20-30. Jones, P. M., &amp; O’Steen, H. (2018). Time-varying correlations and Sharpe ratios during quantitative easing. Studies in Nonlinear Dynamics &amp; Econometrics, 22(1). Kao, W.-S., Kao, T.-C., Changchien, C.-C., Wang, L.-H., &amp; Yeh, K.-T. (2018). Contagion in international stock markets after the subprime mortgage crisis. The Chinese Economy, 51(2), 130-153. Kim, B.-H., Kim, H., &amp; Lee, B.-S. (2015). Spillover effects of the US financial crisis on financial markets in emerging Asian countries. International Review of Economics &amp; Finance, 39, 192-210. Kluwe-Schiavon, B., Viola, T. W., Bandinelli, L. P., Castro, S. C. C., Kristensen, C. H., Costa da Costa, J., &amp; Grassi-Oliveira, R. (2021). A behavioral economic risk aversion experiment in the context of the COVID-19 pandemic. Plos one, 16(1), e0245261. Koop, G., Pesaran, M. H., &amp; Potter, S. M. (1996). Impulse response analysis in nonlinear multivariate models. Journal of econometrics, 74(1), 119-147. Le, T. P. T. D., &amp; Tran, H. L. M. (2021). The contagion effect from US stock market to the Vietnamese and the Philippine stock markets: The evidence of DCC-GARCH model. The Journal of Asian Finance, Economics, and Business, 8(2), 759-770. Lee, J.-W., &amp; McKibbin, W. J. (2004). Globalization and disease: The case of SARS. Asian Economic Papers, 3(1), 113-131. Lee, S. B., &amp; Kim, K. J. (1993). Does the October 1987 crash strengthen the co‐movements among national stock markets? Review of Financial Economics, 3(1), 89-102. Liu, H., Manzoor, A., Wang, C., Zhang, L., &amp; Manzoor, Z. (2020). The COVID-19 outbreak and affected countries stock markets response. International Journal of Environmental Research and Public Health, 17(8), 2800. Liu, H., Wang, Y., He, D., &amp; Wang, C. (2020). Short term response of Chinese stock markets to the outbreak of COVID-19. Applied Economics, 52(53), 5859-5872. Markowitz, H. M. (1991). Foundations of portfolio theory. The Journal of Finance, 46(2), 469-477. Mensi, W., Beljid, M., Boubaker, A., &amp; Managi, S. (2013). Correlations and volatility spillovers across commodity and stock markets: Linking energies, food, and gold. Economic Modelling, 32, 15-22. Molodtsova, T., &amp; Papell, D. H. (2009). Out-of-sample exchange rate predictability with Taylor rule fundamentals. Journal of international economics, 77(2), 167-180. Nguyen, L., Gallery, G., &amp; Newton, C. (2019). The joint influence of financial risk perception and risk tolerance on individual investment decision‐making. Accounting &amp; Finance, 59, 747-771. Pasha, M. A., Ramzan, M., &amp; Asif, M. (2019). Impact of Economic Value Added Dynamics on Stock Prices Fact or Fallacy: New Evidence from Nested Panel Analysis. Global Social Sciences Review, 4(3), 135-147. Paskaleva, M., &amp; Stoykova, A. (2021). Globalization Effects on Contagion Risks in Financial Markets. Ekonomicko-manazerske spektrum, 15(1), 38-54. Pesaran, H. H., &amp; Shin, Y. (1998). Generalized impulse response analysis in linear multivariate models. Economics Letters, 58(1), 17-29. Pesaran, M. H., &amp; Timmermann, A. (2002). Market timing and return prediction under model instability. Journal of Empirical Finance, 9(5), 495-510. Sadraoui, T., Regaieg, R., Abdelghani, S., Moussa, W., &amp; Mgadmi, N. (2021). The Dependence and Risk Spillover Between Energy Market and BRICS Stock Markets: A Copula-MGARCH Model Approach. Global Business Review, 0(0), 09721509211049123. https://doi.org/10.1177/09721509211049123 Siddiqui, S. (2009). Stock markets integration: Examining linkages between selected world markets. Vision, 13(1), 19-30. Singh, B., Dhall, R., Narang, S., &amp; Rawat, S. The Outbreak of COVID-19 and Stock Market Responses: An Event Study and Panel Data Analysis for G-20 Countries. Global Business Review, 0(0), 0972150920957274. https://doi.org/10.1177/0972150920957274 Singh, B., Dhall, R., Narang, S., &amp; Rawat, S. (2020). The outbreak of COVID-19 and stock market responses: An event study and panel data analysis for G-20 countries. Global Business Review, 0972150920957274. Syllignakis, M. N., &amp; Kouretas, G. P. (2011). Dynamic correlation analysis of financial contagion: Evidence from the Central and Eastern European markets. International Review of Economics &amp; Finance, 20(4), 717-732. Taleb, N. (2005). The black swan: Why don’t we learn that we don’t learn. NY: Random House. Topcu, M., &amp; Gulal, O. S. (2020). The impact of COVID-19 on emerging stock markets. Finance Research Letters, 36, 101691. Tsai, I. (2014). Spillover of fear: Evidence from the stock markets of five developed countries. International Review of Financial Analysis, 33, 281-288. WHO. (2020). WHO Cronavirus (COVID-19) Dashboard. https://covid19.who.int/ Zeren, F., &amp; HIZARCI, A. (2020). The impact of COVID-19 coronavirus on stock markets: evidence from selected countries. Muhasebe ve Finans İncelemeleri Dergisi, 3(1), 78-84. Zhang, D., Hu, M., &amp; Ji, Q. (2020). Financial markets under the global pandemic of COVID-19. Finance Research Letters, 36, 101528.

Purpose: The implementation and certification of Management Systems International Standards, such as ISO 9001 and ISO 14001, achieved a high international recognition, with more than 1 million organizations with their Quality Management Systems certified worldwide. Researchers have been paying considerable attention to this theme and the number of published articles has robustly growth. Although, on an overall basis, the research results support the existence of positive impacts on the use and certification of these International Standards, there are various inconsistency and contradictory results, leading to some controversy over its impacts for organizations. This study aims to bring a longitudinal time perspective to this area of research, analyzing the articles published since 1996, on the benefits of Management Systems Certification. A longitudinal perspective of countries of authors origin, keywords and journals is presented, complemented with an evaluation of the research results.Design/methodology/approach: The research was supported with a Bibliometric Study, with data collected from Web of Science, SCOPUS, and Research Gate data bases. Following the detailed analysis of the journal titles, articles abstracts and their full content, an evaluation scale was applied to access if the results support the existence of a positive relationship between MSC and economic, financial or stakeholder results.Findings: The results evidence a steep increase in the number of publications addressing Management Systems Certification benefits, that mainly originate from Europe (48%) and East Asia and Pacific (23%), with Spain as the clear leading country accounting (43% of the total number of articles published between 1996 and April 2017). Journal of Cleaner Production (EMSC) and Total Quality Management and Business Excellence journal (QMSC) are the leading journals for disseminating the research and the most used keywords are “Quality/Environment”, “ISO 9001/14001”, “Performance”, “Management Systems” and “Certification”. There are also insights that the research is now open to other Management Systems either than Quality and Environment. The systematic review of the selected papers shows that the Management Systems adoption and certification brings fairly positives benefits (average 2,34 in a 1 to 5 Likert type scale) for the certified organizations, although some variations are observed. Some avenues for future research should consider the reliability and validation of measures; sampling and biases errors; the use of control, moderating and mediating variables; the consideration of time and situational contingencies; and the search for explanations for cause and effect relationships.The results of this research support the view that the investigation of Management Systems Certification benefits is indeed an issue of high academic and practitioners interest. This research, although subject to some subjective evaluation of the authors, and acknowledging that the research articles are not always comparable, aims to give some insights for this continuous research field. Research limitations/implications: Although the authors took measures to reduce subjectivity, it should be noted that the evaluation could be subject to the authors own interpretation and the research articles are not always comparable.Originality/value: This research makes a longitudinal and comprehensive evaluation of the articles published since 1996 on the benefits of Management System Certification. It highlights trends and gives contribution for future research, on a field of intense academic and practitioners interest.

This research aims at the intricate challenge of securing the U.S. border by investigating the potential of cutting-edge surveillance technologies. We explore a range of innovations, including artificial intelligence, unmanned aerial vehicles (UAVs), sophisticated sensor networks, and sophisticated data integration systems. Through a combination of case studies, technological assessments, and policy analyses, this work aims to understand how these technologies can enhance border security while navigating the complex landscape of ethical and legal considerations. Our research employs a mixed-methods approach, combining both qualitative and quantitative analyses to evaluate the effectiveness of these surveillance systems. Key findings reveal that the integration of advanced technologies can significantly improve border detection capabilities, accelerate response times, and enhance situational awareness. However, our investigation also uncovers significant operational hurdles, including substantial implementation costs, the complexities of integrating diverse technological systems, and the crucial need for comprehensive training programs for border personnel. Furthermore, the research critically examines the ethical dimensions of border surveillance. Concerns surrounding privacy infringement and the potential for racial profiling in the context of mass surveillance are thoroughly analysed. This paper acknowledges the delicate balance between enhancing security and safeguarding individual liberties. Based on our findings, we offer a series of concrete recommendations to address these challenges effectively. These recommendations include: Fostering collaboration between government agencies, technology companies, and academic institutions to drive innovation and ensure responsible technology development. Creating common data structures and protocols to enable seamless information exchange between different agencies and systems. Creating robust oversight mechanisms to address ethical concerns, ensure accountability, and protect individual rights. By embracing these recommendations, the United States can strive towards a more effective, ethical, and equitable border management strategy that balances security needs with the protection of individual liberties and human rights. References Ahmad, S. (2024). The Impact of Decision making by Charismatic leadership in conflicted and tangled circumstances: Impact of Decision making by Charismatic leadership in conflicted and tangled circumstances. KASBIT Business Journal, 17(1). Ahmad, S., Wong, W. K., Riaz, S., &amp; Iqbal, A. (2024). The role of employee motivation and its impact on productivity in modern workplaces while applying human resource management policies. Arabian Journal of Business and Management Review (Kuwait Chapter), 13(2), 7-12. Ahmed, A., Rahman, S., Islam, M., Chowdhury, F., &amp; Badhan, I. A. (2023). Challenges and Opportunities in Implementing Machine Learning For Healthcare Supply Chain Optimization: A Data-Driven Examination. International journal of business and management sciences, 3(07), 6-31. Atkinson, M. (2021). Leveraging AI to combat cross-border crimes. National Security Review. Badhan, I. A., Hasnain, M. N., &amp; Rahman, M. H. (2023). Advancing Operational Efficiency: An In-Depth Study Of Machine Learning Applications In Industrial Automation. Policy Research Journal, 1(2), 21-41. Badhan, I. A., Neeroj, M. H., &amp; Rahman, S. (2024). Currency rate fluctuations and their impact on supply chain risk management: An empirical analysis. International journal of business and management sciences, 4(10), 6-26. Bakhtiyari, R., et al. (2022). "Utilization of High-Resolution Satellite Imagery for Border Risk Assessment". Remote Sensing Letters. Bouali, S., et al. (2020). Advances in Deep Learning for Border Surveillance. IEEE Transactions on Pattern Analysis and Machine Intelligence, 42(8), 1652–1667. Buolamwini, J., &amp; Gebru, T. (2018). Gender Shades: Intersectional Accuracy Disparities in Commercial Gender Classification. Proceedings of the Conference on Fairness, Accountability, and Transparency, 77–91. Chowdhury, R., et al. (2021). Thermal Imaging for Border Security. Sensors, 21(9), 3041. DHS (2020). Benefits and Challenges of Automated Border Surveillance. Department of Homeland Security Annual Report. European Commission. (2023). Research and innovation in border security under Horizon Europe. Finn, R., &amp; Wright, D. (2021). Privacy and ethical implications of ASE in border security. Information Security Journal. Frontex (European Border and Coast Guard Agency). (2022). Tech-driven border security initiatives in Europe. Gibbens, S. (2023). Drones as a transformative technology in border security. National Geographic. IEEE Spectrum. (2023). Advances in autonomous border monitoring technologies. International Federation of Robotics. (2021). "Advancements in Robotic Surveillance for National Borders." International Organization for Migration (IOM). (2022). Smart borders: Technological innovations in migration management. International Telecommunication Union (ITU). (2023). Technological standards for secure and smart border systems. Kulkarni, A. et al. (2022). Real-time data analytics for geospatial intelligence in border zones. Journal of Geographic Information Systems. Latif, A., Hasan, S. T., Abdullah, M., &amp; Ahmad, H. M. (2023). Exploring the Nexus: Educational, Health, and Economic Incentives in Power Looms and their Impacts on Job Satisfaction. Bulletin of Business and Economics (BBE), 12(3), 635-639. Latif, A., Ilyas, K., &amp; Ahmad, H. M. (2024). Exposure to Media Violence as a Predictor of Escalating Violent Behavior Among Pakistani Youth: A Quantitative Study at the University of Okara. Journal of Asian Development Studies, 13(1), 85-92. Latif, A., Rauf, A., Ahmad, H. M., &amp; Abbas, A. (2023). Socio-Economic Factors and Subjective Well-Being Among Women of Reproductive Age: A Secondary Analysis of Punjab. Bulletin of Business and Economics (BBE), 12(4), 425-432. Lemay, R. (2022). "Role of Drones in Border Security Operations." Reported in Defense Technology Review. Lemay, S. (2022). Drone Technology in Modern Border Security. TechNow, 15(4), 45-60. Lopez, R., et al. (2020). "AI-Driven Predictive Systems in U.S. Border Control". Technology and Homeland Security Journal. McCarthy, L. (2023). Integrated border management and AI innovations. Global Security Studies. Military Sphere. (2023). "Legal and Ethical Considerations in Border Surveillance." Patel, D. (2020). Risk assessment algorithms for border management. Applied Data Science Quarterly. Pavlik, M. (2022). Impact of artificial intelligence on border surveillance policies. Security Journal. Peceny, M., et al. (2019). Drones and Detection Rates on the U.S.-Mexico Border. Border Policy Journal, 14(3), 89–112. Rahman, S., Sayem, A., Alve, S. E., Islam, M. S., Islam, M. M., Ahmed, A., &amp; Kamruzzaman, M. (2024). The role of AI, big data and predictive analytics in mitigating unemployment insurance fraud. International Journal of Business Ecosystem &amp; Strategy (2687-2293), 6(4), 253-270. RAND Corporation. (2022). The role of automated systems in enhancing border safety and control. Rieke, A., et al. (2022). Data Responsibility in AI Systems. Data &amp; Society Institute. Sayem, M. A., Taslima, N., Sidhu, G. S., Chowdhury, F., Sumi, S. M., Anwar, A. S., &amp; Rowshon, M. (2023). AI-driven diagnostic tools: A survey of adoption and outcomes in global healthcare practices. Int. J. Recent Innov. Trends Comput. Commun, 11(10), 1109-1122. Schneier, B. (2021). Cybersecurity Vulnerabilities in IoT Systems. Security &amp; Privacy Magazine, 19(3), 12–17. Smith, J., &amp; Chang, H. (2021). Cybersecurity challenges in IoT-based surveillance ecosystems. Cybersecurity Insights Journal. Taslima, N., Islam, M., Rahman, S., Islam, S., &amp; Islam, M. M. (2022). Information system integrated border security program: A quantitative assessment of AI-driven surveillance solutions in US immigration control. Journal of Business Insight and Innovation, 1(2), 47-60. Tene, O., &amp; Polonetsky, J. (2019). Privacy in the Age of Big Data. Stanford Law Review Online, 64, 67–80. Thales Group. (2023). Digital solutions for secure border management. The Brookings Institution. (2022). AI governance and the future of smart borders. U.S. Customs and Border Protection (CBP). (2021). "Annual Performance Report: Advanced Surveillance Deployment." U.S. Customs and Border Protection. (2021). Technology and Innovation in Border Security. CBP Annual Report. U.S. Government Accountability Office (GAO). (2021). "Southwest Border: Additional Actions Needed to Strengthen Management and Assess Effectiveness of Land-based Surveillance Technology." Ullah, A., &amp; Khan, S. D. (2024). Impact of Sound Decision-Making on Small and Medium Businesses in Pakistan. International Journal of Asian Business and Management, 3(2), 177-192. United Nations Office on Drugs and Crime (UNODC). (2021). Emerging technologies in border security operations. Williams, A. R. (2020). Challenges in implementing IoT at national borders. Journal of Advanced Technology Applications. World Economic Forum. (2021). Building ethical frameworks for AI in security systems. Yan, T., et al. (2021). Predictive Algorithms in Resource Allocation for Border Security. Artificial Intelligence Applications, 18(4), 287–298. ZAKA, M. S., LATIF, A., AHMAD, S. J., &amp; HAIDER, S. (2024). Climate Change Awareness and Mental Health: Cognitive and Emotional Implications. Remittances Review, 9(2), 4146-4176. Zhou, K., et al. (2023). Satellite technology applications in remote border surveillance. Remote Sensing Reviews. Zohora, F. T., Parveen, R., Nishan, A., Haque, M. R., &amp; Rahman, S. (2024). Optimizing Credit Card Security Using Consumer Behavior Data: A Big Data and Machine Learning Approach To Fraud Detection. Frontline Marketing, Management and Economics Journal, 4(12), 26-60.

International Business Research wishes to acknowledge the following individuals for their assistance with peer review of manuscripts for this issue. Their help and contributions in maintaining the quality of the journal are greatly appreciated.International Business Research is recruiting reviewers for the journal. If you are interested in becoming a reviewer, we welcome you to join us. Please find the application form and details at http://recruitment.ccsenet.org and e-mail the completed application form to ibr@ccsenet.org.Reviewers for Volume 11, Number 7 Alireza Athari, Eastern Mediterranean University, IranBenjamin James Inyang, University of Calabar, NigeriaBruno Ferreira Frascaroli, Federal University of Paraiba, BrazilBrazil,Carlo Alberto Magni, University of Modena and Reggio Emilia, ItalyChemah Tamby Chik, Universiti Teknologi Mara (Uitm), MalaysiaChokri Kooli, International Center for Basic Research applied, Paris, CanadaDonghun Yoon, Seoul Center, Korea Basic Science Institute, Republic of KoreaEjindu Iwelu MacDonald Morah, University of Westminster, London, UKEunju Lee, University of Massachusetts Lowell, USAFevzi Esen, Istanbul Medeniyet University, TurkeyFoued Hamouda, Ecole Supérieure de Commerce, TunisiaGianluca Ginesti, University of Naples “FEDERICO II”, ItalyGuo Zi-Yi, Wells Fargo Bank, N.A., USAHsiao-Ching Kuo, Washington and Jefferson College, USAIonela-Corina Chersan, “Alexandru Ioan Cuza” University from Iași, RomaniaJoanna Katarzyna Blach, University of Economics in Katowice, PolandMaria Teresa Bianchi, University of Rome “LA SAPIENZA”, ItalyMaria-Madela Abrudan, University of ORADEA, RomaniaMichaela Maria Schaffhauser-Linzatti, University of Vienna, AustriaMiriam Jankalová, University of Zilina, SlovakiaMithat Turhan, Mersin University, TurkeyModar Abdullatif, Middle East University, JordanMuath Eleswed, American University of Kuwait, USAOzgur Demirtas, Turkish Air Force Academy, TurkeyPascal Stiefenhofer, University of Brighton, UKRafiuddin Ahmed, James Cook University, AustraliaRoberto Campos da Rocha Miranda, University Center Iesb, BrazilRomana Korez Vide, University of Maribor, SloveniaRoxanne Helm Stevens, Azusa Pacific University, USASerhii Kozlovskiy, Donetsk National University, UkraineSumathisri Bhoopalan, SASTRA Deemed to be University, IndiaVassili JOANNIDES de LAUTOUR, Grenoble École de Management (France) and Queensland University of Technology School of Accountancy (Australia), France

World Journal of English Language wishes to acknowledge the following individuals for their assistance with peer review of manuscripts for this issue. Their help and contributions in maintaining the quality of the journal are greatly appreciated.World Journal of English Language is recruiting reviewers for the journal. If you are interested in becoming a reviewer, we welcome you to join us. Please contact us for the application form at: wjel@sciedupress.comReviewers for Volume 11, Number 2Andrés Canga, University of La Rioja, SpainChunlin Yao, Tianjin Chengjian University, ChinaDaniel Ginting, Universitas Ma Chung, IndonesiaDon Anton Balida, Oman Tourism College, OmanElena Alcalde Peñalver, University of Alcalá, SpainEmine Bala, Tishk International University, IraqGhadah Al Murshidi, The United Arab Emirates University, UAEHameed Yahya Ahmed Al-Zubeiry, Al-Baha University, Saudi ArabiaHossein Salarian, University of Tehran, IranHouaria Chaal, Hassiba Ben Bouali University of Chlef, AlgeriaJasna Potocnik Topler, University of Maribor, SloveniaKanthimathi Krishnasamy, Shrimathi Devkunvar Nanalal Bhatt Vaishnav College for Women, IndiaKenan Yerli, Sakarya University, TurkeyLeila Lomashvili, Shawnee State University, USALi Ping Chang, Department of Applied Foreign Languages, National Taipei College of Business, TaiwanMaria del Mar Sanchez Ramos, University of Alcalá, SpainMaria Isabel Maldonado Garcia, Al-Andalus Institute of Languages University of Lahore, PakistanMaría Luisa Carrió, Universidad Politécnica de Valencia, SpainMuhammed Ibrahim Hamood, University of Mosul, IraqMustafa Ar, Ar-Raniry State Islamic University, IndonesiaNitin Malhotra, St. Theresa International College, Bangkok, ThailandÖzkanal, Ümit, Eskisehir Osmangazi University Foreign Languages Department, TurkeyPatnarin Supakorn, Walailak University, ThailandPham Vu Phi Ho, Van Lang University, VietnamScott-Monkhouse Anila Ruth, Language Centre – University of Parma (Italy), ItalyŞenel, Müfit, 19 Mayıs University, TurkeyShalini Yadav, Compucom Institute of Technology and Management, IndiaTeguh Budiharso, State Institute of Islamic Studies (IAIN) of Surakarta, Indonesia, IndonesiaWafi Fhaid Alshammari, University of Ha’il, Saudi ArabiaWenjie Shi, Central University of Finance and Economics, China

Dear Editor-in-Chief, I am pleased to submit my manuscript titled "Digital Payment on Financial Transactions Towards Economic Growth in South East Asia Emergent Countries" for consideration in your esteemed journal. This paper explores the transformative impact of digital payment systems on financial transactions and their subsequent influence on economic growth within emerging economies in Southeast Asia. In this study, I have comprehensively analysed digital payment adoption across various Southeast Asian countries, examining both the benefits and challenges associated with this technological shift. The findings highlight significant correlations between the increased use of digital payments and enhanced economic performance, providing valuable insights for policymakers and financial institutions aiming to foster economic development through technological innovation. I believe this manuscript will be of great interest to your readers, as it addresses a timely and relevant topic with implications for both academic research and practical applications in the financial sector. The paper contributes to the existing literature by offering a nuanced understanding of how digital payment systems can drive economic growth in emerging markets, a subject that is increasingly pertinent in today's rapidly evolving financial landscape. I confirm that this manuscript has not been published elsewhere and is not being considered by any other journal. All authors have approved the manuscript and agree with its submission to the International Journal of Management and Business Applied. We have no conflicts of interest to disclose. Thank you for considering my submission. I look forward to your positive response. Best Regards, Martino Wibowo

In the face of ground-breaking advancements such as automation, artificial intelligence, and the gig economy, the realm of human resource management (HRM) is undergoing a profound transformation. As the nature of work evolves, HRM practices must adapt to ensure both organizational performance and employee well-being. A primary focus of the study is the increasing emphasis on workforce flexibility. The rise of remote work, flexible schedules, and contingent labour has necessitated a shift in HRM practices. This research explores how organizations can effectively manage a diverse workforce while maintaining productivity and employee satisfaction. Additionally, the study examines the impact of job changes, including automation-driven task shifts and the emergence of new roles. It investigates how HR professionals can assist employees in adapting to these changes and acquiring the necessary skills for the future of work. Ethical considerations are also a central theme of this research. With the rise of AI and automation, questions surrounding data privacy, algorithmic bias, and ethical decision-making in the workplace have become increasingly pressing. The study explores the ethical implications of these technologies and provides guidance for HR professionals on developing ethical policies and practices. This research study underscores the critical role of HRM in fostering a productive and supportive work environment. It highlights the need for HR professionals to be strategic partners with business leaders, aligning HR practices with overall organizational goals. By understanding the challenges and opportunities presented by these revolutionary developments, HR professionals can equip their organizations to navigate the complexities of the contemporary workplace and achieve long-term success. This research offers a valuable resource for HR professionals, business executives, and policymakers seeking to understand the changing landscape of HRM and develop effective strategies for managing their workforce in the face of technological advancements and evolving workforce dynamics. References Adams-Prassl, J. (2019). What if your boss was an algorithm? Economic incentives, legal challenges, and the rise of artificial intelligence at work. Comp. Lab. L. &amp; Pol'y J., 41, 123. Ali, Z., &amp; Niaz, A. (2024). Impact of Leadership Styles on the Employees’ Engagement in Private Healthcare Industry of UAE. Inverge Journal of Social Sciences, 3(1), 7-27. Alizai, S. H., Asif, M., &amp; Rind, Z. K. (2021). Relevance of Motivational Theories and Firm Health. Management (IJM), 12(3), 1130-1137. Ali, Z. A., Zain, M., Pathan, M. S., &amp; Mooney, P. (2024). Contributions of artificial intelligence for circular economy transition leading toward sustainability: an explorative study in agriculture and food industries of Pakistan. Environment, Development and Sustainability, 26(8), 19131-19175. Asif, D. M. (2024). THE COMPLEXITIES OF BIOTERRORISM: CHALLENGES AND CONSIDERATIONS. International Journal of Contemporary Issues in Social Sciences, 3(3), 2175-2184. Asif, M. (2022). Integration of Information Technology in Financial Services and its Adoption by the Financial Sector in Pakistan. Inverge Journal of Social Sciences, 1(2), 23-35. Asif, M. (2021). Contingent Effect of Conflict Management towards Psychological Capital and Employees’ Engagement in Financial Sector of Islamabad. Preston University, Kohat, Islamabad Campus. Asif, M., Khan, A., &amp; Pasha, M. A. (2019). Psychological capital of employees’ engagement: moderating impact of conflict management in the financial sector of Pakistan. Global Social Sciences Review, IV, 160-172. Asif, M., Pasha, M. A., Mumtaz, A., &amp; Sabir, B. (2023). Causes of youth unemployment in Pakistan. Inverge Journal of Social Sciences, 2(1), 41-50. Asif, M., Pasha, M. A., Shafiq, S., &amp; Craine, I. (2022). Economic impacts of post COVID-19. Inverge Journal of Social Sciences, 1(1), 56-65. Asif, M., &amp; Sandhu, M. S. (2023). Social Media Marketing Revolution in Pakistan: A Study of its Adoption and Impact on Business Performance. Journal of Business Insight and Innovation, 2(2), 67-77. Asif, M., &amp; Shaheen, A. (2022). Creating a High-Performance Workplace by the determination of Importance of Job Satisfaction, Employee Engagement, and Leadership. Journal of Business Insight and Innovation, 1(2), 9-15. Asif, M., Pasha, M. A., Shafiq, S., &amp; Craine, I. (2022). Economic impa{Asif, 2023 #79}cts of post COVID-19. Inverge Journal of Social Sciences, 1(1), 56-65. Asghar, R. J., Qayyum, A., Zaheer, A., Mughal, A., &amp; Khalid, S. (2011). Implementation of HR Practices in University Teachers of Pakistan. Information Management and Business Review, 3(3), 148-157. Asghar, R. J., Shah, M. U. Z. A. M. M. E. L., &amp; Khan, J. A. (2021). Big Five Personality Traits and Training Transfer: Does Organizational Politics Matters. International Review of Basic and Applied Sciences, 9(4), 457-469. Aurangzeb, M. A. (2021). Role of Leadership in Digital Transformation: A Case of Pakistani SMEs. Aurangzeb, A. (2021). M., &amp; Amin, MK (2021). Resources management and SME's performance. Humanities &amp; Social Sciences Reviews, 9(3), 679-689. Aurangzeb, M., Tunio, M., Rehman, Z., &amp; Asif, M. (2021). Influence of administrative expertise on human resources practitioners on the job performance: Mediating role of achievement motivation. International Journal of Management, 12(4), 408-421. Azad, T. (2023). The Impact of Technology in the Classroom: An Insight into Students' and Teachers' Psychological Perspectives. Inverge Journal of Social Sciences, 2(2), 66-83. Chintaradeja, P. (2022). Rhodes’ governance concept in relation to Thai public service. Inverge Journal of Social Sciences, 1(1), 1-12. Chompupor, P. (2023). The MICE labour market challenges in Thailand from experts’ perspective. Inverge Journal of Social Sciences, 2(2), 165–175. De Stefano, V. (2020). Algorithmic bosses and what to do about them: automation, artificial intelligence and labour protection. Economic and policy implications of artificial intelligence, 65-86. Darkwa, E., Inguva, H., Osafo-Adjei, C., &amp; Acquah, B. (2024). The public sphere on a digital plane: The influence of the new digital media on Ghana’s democracy and the Public Sphere. Inverge Journal of Social Sciences, 3(2), 46-62. Inyang, U., G. Etuk, S., &amp; Effiom, M. (2024). Employees’ Assessment of Impact of Information Systems on Operational Efficiency of Insurance Companies. Inverge Journal of Social Sciences, 3(3), 1–12. Iqbal, M. S., Rahim, Z. A., &amp; Hussain, S. A. (2020). Industry 4.0 revolution and challenges in developing countries: a case study on Pakistan. Journal of Advanced Research in Business and Management Studies, 21(1), 40-52. Ishfaq, U., Imran, A., Joseph, V., Haqdad, U., &amp; Asif, M. (2022). Mediating role of trust between emotional intelligence and project team performance in telecommunication sector. PalArch's Journal of Archaeology of Egypt/Egyptology, 19(4), 988-1005. Jamil, S. (2021). Artificial intelligence and journalistic practice: The crossroads of obstacles and opportunities for the Pakistani journalists. Journalism Practice, 15(10), 1400-1422. Khan, M. H. (2023). The role of recruitment and selection on organizational performance: An empirical investigation into the impact of recruitment and selection on organizational performance. Inverge Journal of Social Sciences, 2(2), 146-164. Khan, M. H. (2023). The influence of green HRM practices and green knowledge sharing on green service behaviors: Environmental Sustainability at Work: How Green HRM and Knowledge Transfer Influence Green Service Behaviors. Inverge Journal of Social Sciences, 2(2), 176-193. Khatun, R. (2023). Work from Home in Pandemic - An Indian Perspective. Inverge Journal of Social Sciences, 2(3), 77–95. Malik, A., Budhwar, P., &amp; Srikanth, N. R. (2020). Gig economy, 4IR and artificial intelligence: Rethinking strategic HRM. In Human &amp; technological resource management (HTRM): New insights into revolution 4.0 (pp. 75-88). Emerald Publishing Limited. Mangi, R. A., Jhatial, A. A., Shah, S. A. A., &amp; Ghumro, I. A. (2012). Human resource management practices in private sector organisations in Pakistan: study of cultural influences. Global Journal of Management and Business Research, 12(7), 20-30. Mirza, M. S., &amp; Rashid, S. (2024). Effect of Online Cooperative Learning on Students’ Academic Achievement at Higher Education Level. Inverge Journal of Social Sciences, 3(2), 1-10. Mumtaz, A., Munir, N., Mumtaz, R., Farooq, M., &amp; Asif, M. (2023). Impact of Psychological &amp; Economic Factors on Investment Decision-Making in Pakistan Stock Exchange. Journal of Positive School Psychology, 130-135. Mushtaque, T., Tunio, M. N., ur Rehman, Z., &amp; Asif, M. (2021). INFLUENCE OF ADMINISTRATIVE EXPERTISE OF HUMAN RESOURCE PRACTITIONERS ON THE JOB PERFORMANCE: MEDIATING ROLE OF ACHIEVEMENT MOTIVATION. International Journal of Management (IJM), 12(4). Nabi, M. K. (2019). The impact of artificial intelligence (AI) on workforce in emerging economies. Global Journal of Management and Business Research, 19(8), 71-78. Nadeem, M., Ali, Y., Rehman, O. U., &amp; Saarinen, L. T. (2024). Barriers and strategies for digitalisation of economy in developing countries: Pakistan, a case in point. Journal of the Knowledge Economy, 15(1), 4730-4749. Nimmagadda, B., Vangaveti, Y., Aaluri, S., Rao, C. M., &amp; Singh, B. (2024). An Analytical study on Navigating Sustainability Challenges and Opportunities in the era of AI and the Gig Economy. In MATEC Web of Conferences (Vol. 392, p. 01044). EDP Sciences. Nishtar, Z., Munir, M. A., Akram, N., Masood, B., Asghar, F., &amp; Meahrayen, M. A. (2023). Green Finance and the Automate Solar Tracking System: Assessing Efficiency, Financial impact, and Environmental Benefits. Inverge Journal of Social Sciences, 2(3), 134-147. Pasha, M. A., Ramzan, M., &amp; Asif, M. (2019). Impact of Economic Value Added Dynamics on Stock Prices Fact or Fallacy: New Evidence from Nested Panel Analysis. Global Social Sciences Review, 4(3), 135-147. Rabbani, W., &amp; Bashir, M. (2022). Deep Dive into Debt Financing and Its Impact on Small Businesses. Journal of Business Insight and Innovation, 1(1), 29–38. Saqlain, M., Anwar, J., &amp; Hameed, B. (2023). A Digital Solution for monitoring the Anxiety Level of University Students. Inverge Journal of Social Sciences, 2(1), 1-16. Saher, N., &amp; Mayrhofer, W. (2014). The role of Vartan Bhanji in implementing HRM practices in Pakistan. The International Journal of Human Resource Management, 25(13), 1881-1903. Shahid, N., Asif, M., &amp; Pasha, A. (2022). Effect of Internet Addiction on School Going Children. Inverge Journal of Social Sciences, 1(1), 13-55. Shaikh, F., Afshan, G., &amp; Sood, K. (2023). Technology and the Change in the Nature of Work. The Impact on HRM Practices: The Protean Career and Boundaryless Career. In The Adoption and Effect of Artificial Intelligence on Human Resources Management, Part B (pp. 31-43). Emerald Publishing Limited. Sumbal, M. S., Tariq, A., Amber, Q., Janovská, K., &amp; Ferraris, A. (2024). Tech revolution unleashed: Navigating the winds of digital transformation in the fast lane. Journal of Innovation &amp; Knowledge, 9(4), 100551. Tanoamchard, W., &amp; Ceienwattanasook, K. (2024). The Future of Work and the Impact of Automation on Jobs in Gig Economy in Thailand: A Review of Literature. Scholar: Human Sciences, 16(1), 77-88. Ungureanu, A. (2019). Industry 4.0. The role of gig economy in the industrial revolution of the 21st century. The USV Annals of Economics and Public Administration, 19(2 (30)), 77-84. Usama, H. A., Riaz, M., Khan, A., Begum, N., Asif, M., &amp; Hamza, M. (2022). PROHIBITION OF ALCOHOL IN QURAN AND BIBLE (A RESEARCH AND ANALYTICAL REVIEW). PalArch's Journal of Archaeology of Egypt/Egyptology, 19(4), 1202-1211.

World Journal of English Language wishes to acknowledge the following individuals for their assistance with peer review of manuscripts for this issue. Their help and contributions in maintaining the quality of the journal are greatly appreciated.World Journal of English Language is recruiting reviewers for the journal. If you are interested in becoming a reviewer, we welcome you to join us. Please contact us for the application form at: wjel@sciedupress.comReviewers for Volume 12, Number 1Aissa HANIFI, University of Chlef, AlgeriaAmelia Maria Cava, Università fdi Napoli Federicio II, Naples, ItalyAna Maria Costa Lopes, Higher School of Education of the Polytechnic Institute of Viseu, PortugalAndrés Canga, University of La Rioja, SpainAntonio Piga, University of Cagliari, ItalyAyman Khafaga, Suez Canal University, EgyptBahram Kazemian, Islamic Azad University, IranChunlin Yao, Tianjin Chengjian University, ChinaDaniel Ginting, Universitas Ma Chung, IndonesiaDon Anton Balida, International College of Engineering and Management, OmanElena Alcalde Peñalver, University of Alcalá, SpainEmine Bala, Tishk International University, IraqGhadah Al Murshidi, The United Arab Emirates University, UAEHameed Yahya Ahmed Al-Zubeiry, Al-Baha University, Saudi ArabiaHANY ALI MAHMOUD ABDELFATTAH, Minia University, EgyptHossein Salarian, University of Tehran, IranHouaria Chaal, Hassiba Ben Bouali University of Chlef, AlgeriaJânderson Coswosk, Instituto Federal do Espírito Santo, BrazilJasna Potocnik Topler, University of Maribor, SloveniaKanthimathi Krishnasamy, Shrimathi Devkunvar Nanalal Bhatt Vaishnav College for Women, IndiaKenan Yerli, Sakarya University, TurkeyLeila Lomashvili, Shawnee State University, USALi Ping Chang, Department of Applied Foreign Languages, National Taipei College of Business, TaiwanMaria del Mar Sanchez Ramos, University of Alcalá, SpainMaria Isabel Maldonado Garcia, Al-Andalus Institute of Languages University of Lahore, PakistanMohamad Fadhili bin Yahaya, Universiti Teknologi Mara Perlis Branch, MalaysiaMohammad Hamad Al-khresheh, Northern Border University, Saudi ArabiaMorteza Amirsheibani, Ferdowsi University of Mashhad, IranMuhammed Ibrahim Hamood, University of Mosul, IraqMustafa Ar, Ar-Raniry State Islamic University, IndonesiaNitin Malhotra, St. Theresa International College, Bangkok, ThailandÖzkanal, Ümit, Eskisehir Osmangazi University Foreign Languages Department, TurkeyPatnarin Supakorn, Walailak University, ThailandRashad Al Areqi, Al Baha University, KSARoberto Martínez Mateo, UNIVERSITY OF CASTILE LA-MANCHA, SpainRommel Maglaya, Cambridge IGCSE Examiner, PhilippinesSantri Djahimo, Nusa Cendana University, IndonesiaScott-Monkhouse Anila Ruth, Language Centre – University of Parma (Italy), ItalyŞenel, Müfit, 19 Mayıs University, TurkeyShalini Yadav, Compucom Institute of Technology and Management, IndiaShangrela Genon-Sieras, Mindanao State University, Main Campus, PhilippinesSukhdev Singh, National Institute of Technology Patna, IndiaTeguh Budiharso, State Institute of Islamic Studies (IAIN) of Surakarta, Indonesia, IndonesiaWenjie Shi, Central University of Finance and Economics, China

International Journal of Innovation - IJI completes 7 yearsInternational Journal of Innovation - IJI has now 7 years old! In this editorial comment, we not only want to talk about our evolution but get even closer to the IJI community. It is our first editorial comment, a new IJI's communication channel. Some of the changes are already described on our website.IJI is an innovation-focused journal that was created to support scientific research and thereby contribute to practice. Also, IJI was born internationally, receiving and supporting research from around the world. We welcome articles in Portuguese, English, and Spanish.We have published eight volumes in IJI since 2013, totaling 131 articles. Our journal is indexed in: Dialnet and Red Iberoamericana de Innovación y Conocimiento Científico; Ebsco Host; Erih Plus; Gale - Cengage Learning; Latindex; Proquest; Redalyc; Web of Science Core Collection (Emerging Sources Citation Index), among others. We provide free access “open access” to all its content. Articles can be read, downloaded, copied, distributed, printed and / or searched.We want to emphasize that none of this would be possible without the authors that recognized in IJI a relevant journal to publicize their work. Nor can we fail to mention the tireless and voluntary action of the reviewers, always contributing to the articles' improvement and skilling up our journal, more and more.All editors who passed through IJI have a fundamental role in this trajectory. And, none of this would be possible without the editorial team of Uninove. Everyone who passed and the current team. We want to express that our work as current editors of IJI would not be possible without you. Changes in the Intenational Journal of Innovation – IJIAs we mentioned earlier, IJI was born in 2013. And, over time, we are improving its structure always to improve it. In this section, we want to show some changes we made. We intend that editorial comments become a communication channel and that they can help our readers, authors, and reviewers to keep up with these changes.Although IJI is a comprehensive Innovation journal, one of the changes we want to inform you is that now, at the time of submission, the author will choose one of the available topics that best suit your article. The themes are: Innovative Entrepreneurship; Innovation and Learning; Innovation and Sustainability; Internationalization of Innovation; Innovation Systems; Emerging Innovation Themes and; Digital Transformation. Below, we present each theme so that everyone can get to know them:Innovative Entrepreneurship: emerging markets provided dynamic advantages for small businesses and their entrepreneurs to exploit the supply flows of resources, capacities, and knowledge-based on strategies oriented to the management of innovation. Topics covered in this theme include, for example: resources and capabilities that support innovative entrepreneurship; innovation habitats (Universities, Science and Technology Parks, Incubators and Accelerators) and their influences on the development of knowledge-intensive spin-offs and start-ups; open innovation, triple/quadruple helix, knowledge transfer, effectuation, bricolage and co-creation of value in knowledge-intensive entrepreneurship ecosystems; and adequate public policies to support innovative entrepreneurship.Innovation and Learning: discussions on this topic focus on the relationship between learning and innovation as topics with the potential to improve teaching and learning. They also focus on ways in which we acquire knowledge through innovation and how knowledge encourages new forms of innovation. Topics covered in this theme include, for example: innovative projects for learning; innovation-oriented learning; absorptive capacity; innovation in organizational learning and knowledge creation; unlearning and learning for technological innovation; new learning models; dynamics of innovation and learning; skills and innovation.Innovation and Sustainability: discussions on this topic seek to promote the development of innovation with a focus on sustainability, encouraging new ways of thinking about sustainable development issues. Topics covered in this theme include, for example: development of new sustainable products; circular economy; reverse logistic; smart cities; technological changes for sustainable development; innovation and health in the scope of sustainability; sustainable innovation and policies; innovation and education in sustainability and social innovation.Internationalization of Innovation: the rise of developing countries as an innovation center and their new nomenclature for emerging markets have occupied an important place in the international research agenda on global innovation and Research and Development (RD) strategies. Topics covered in this theme include, for example: resources and capabilities that support the internationalization of innovation and RD; global and local innovation and RD strategies; reverse innovation; internationalization of start-ups and digital companies; development of low-cost products, processes and services with a high-value offer internationalized to foreign markets; innovations at the base of the pyramid, disruptive and/or frugal developed and adopted in emerging markets and replicated in international markets; institutional factors that affect firms' innovation efforts in emerging markets.Innovation Systems: regulation and public policies define the institutional environment to drive innovation. Topics include industrial policy, technological trends and macroeconomic performance; investment ecosystem for the development and commercialization of new products, based on government and private investments; investment strategies related to new companies based on science or technology; Technology transfer to, from and between developing countries; technological innovation in all forms of business, political and economic systems. Topics such as triple helix, incubators, and other structures for cooperation, fostering and mobilizing innovation are expected in this section.Emerging Themes: from the applied themes, many emerging problems have a significant impact on management, such as industry 4.0, the internet of things, artificial intelligence or social innovations, or non-economic benefits. Intellectual property is treated as a cognitive database and can be understood as a technological library with the registration of the product of human creativity and invention. Social network analysis reveals the relationships between transforming agents and other elements; therefore, encouraged to be used in research and submitted in this section. The theoretical field not fully developed is not a barrier to explore any theme or question in this section.Digital Transformation: this interdisciplinary theme covers all the antecedents, intervening, and consequent effects of digital transformation in the field of technology-based companies and technology-based business ventures. The technological innovator (human side of innovation) as an entrepreneur, team member, manager, or employee is considered an object of study either as an agent of innovation or an element of the innovation process. Digital change or transformation is considered as a process that moves from the initial status to the new digital status, anchored in the theories of innovation, such as adoption, diffusion, push / pull of technology, innovation management, service innovation, disruptive innovation, innovation frugal innovation economy, organizational behavior, context of innovation, capabilities and transaction costs. Authors who submit to IJI will realize that they now need to make a structured summary at the time of submission. The summary must include the following information:(maximum of 250 words + title + keywords = Portuguese, English and Spanish).Title.Objective of the study (mandatory): Indicate the objective of the work, that is, what you want to demonstrate or describe.Methodology / approach (mandatory): Indicate the scientific method used in carrying out the study. In the case of theoretical essays, it is recommended that the authors indicate the theoretical approach adopted.Originality / Relevance (mandatory): Indicate the theoretical gap in which the study is inserted, also presenting the academic relevance of the discipline.Main results (mandatory): briefly indicate the main results achieved.Theoretical-methodological contributions (mandatory): Indicate the main theoretical and / or methodological implications that have been achieved with the results of the study.Social / managerial contributions (mandatory): Indicate the main managerial and / or social implications obtained through the results of the study.Keywords: between three and five keywords that characterize the work. Another change regarding the organization of the IJI concerns the types of work. In addition to the Editorial Comment and Articles, the journal will include Technological Articles, Perspectives, and Reviews. Thus, when submitting a study, authors will be able to choose from the available options for types of work. Throughout the next issues of the IJI, in the editorial comments, we will pass on pertinent information about every kind of work, to assist the authors in their submissions.Currently, the IJI is available to readers with new works three times a year (January-April; May-August; September-December) with publications in English, Portuguese and Spanish. From what comes next, we will have some changes in the periodicity. Next stepsAs editors, we want the IJI to continue with a national and international impact and increase its relevance in the indexing bases. For this, we will work together with the entire editorial team, reviewers, and authors to improve the work. We will do our best to give full support to the evaluators who are so dedicated to making constructive evaluations to the authors. We will also support authors with all the necessary information.With editorial comments, we intend to pass on knowledge to readers, authors, and reviewers to improve the articles gradually. We also aim to support classroom activities and content.Even with the changes reported here, we continue to accept all types of work, as long as they have an appropriate methodology. We also maintain our scope and continue to publish all topics involving innovation. We want to support academic events on fast tracks increasingly. About the articles in this edition of IJIThis issue is the first we consider the new organization of the International Journal of Innovation - IJI. We started with this editorial comment talking about the changes and improvements that we are making at IJI—as an example, showing the reader, reviewer, and author that the scope remains the same. However, at the time of submission, the author has to choose one of the proposed themes and have a mandatory abstract structured in three languages (English, Portuguese, and Spanish).In this issue, we have a section of perspectives that addresses the “Fake Agile” phenomenon. This phenomenon is related to the difficulties that companies face throughout the agile transformation, causing companies not to reach full agility and not return to their previous management model.Next, we publish the traditional section with scientific articles. The article “Critical success factors of the incubation network of enterprises of the IFES” brings critical success factors as the determining variables to keep business incubators competitive, improving their organizational processes, and ensuring their survival. Another published article, “The sharing economy dilemma: the response of incumbent firms to the rise of the sharing economy”, addresses the sharing economy in terms of innovation. The results of the study suggest that the current response to the sharing economy so far is moderate and limited. The article “Analysis of the provision for implementation of reverse logistics in the supermarket retail” made it possible to observe that through the variables that define retail characteristics, it is not possible to say whether a supermarket will implement the reverse logistics process. And the article “Capability building in fuzzy front end management in a high technology services company”, whose main objective was to assess the adherence among Fuzzy Front End (FFE) facilitators, was reported in the literature its application in the innovation process of a company, an innovative multinational high-tech services company.We also published the article “The evolution of triple helix movement: an analysis of scientific communications through bibliometric technique”. The study is a bibliometric review that brings essential contributions to the area. This issue also includes a literature review entitled “Service innovation tools: a literature review” that aimed to systematically review the frameworks proposed and applied by the literature on service innovation.The technological article “A model to adopt Enterprise Resource Planning (ERP) and Business Intelligence (BI) among Saudi SMEs”, in a new IJI publication section, addresses the main issues related to the intention to use ERPBI in the Saudi private sector.As we mentioned earlier in this editorial, IJI has a slightly different organization. With the new format, we intend to contribute to the promotion of knowledge in innovation. Also, we aim to increasingly present researchers and students with possibilities of themes and gaps for their research and bring insights to professionals in the field.Again, we thank the reviewers who dedicate their time and knowledge in the evaluations, always helping the authors. We wish you, readers, to enjoy the articles in this issue and feel encouraged to send your studies in innovation to the International Journal of Innovation - IJI.

Adeyemo, K. A., Isiavwe, D., Adetula, D., Olamide, O., &amp; Folashade, O. (2020). Mandatory adoption of the Central Bank of Nigeria’s cashless and e-payment policy: implications for bank customers. Banks and Bank Systems, 15(2), 243-253. https://doi.org/10.21511/bbs.15(2).2020.21 Barabashev, A., Makarov, I., &amp; Zarochintcev, S. (2022). How to shape government policies on high-technology development using the indicative evaluation of risks? Administratie si Management Public, 38, 70-89. https://doi.org/10.24818/amp/2022.38-04 Bayram, M., &amp; Akat, M. (2019). Market-Neutral Trading with Fuzzy Inference, a New Method for the Pairs Trading Strategy. Engineering Economics, 30(4), 411-421. https://doi.org/10.5755/j01.ee.30.4.14350 Bing, C., &amp; Schectman, J. (2019). Inside the UAE’s secret hacking team of American mercenaries. Retrieved from: https://www.reuters.com/investigates/special-report/usa-spying-raven/ (31.01.2023). Bozhenko, V. (2022). Tackling corruption in the health sector. Health Economics and Management Review, 3(3), 32-39. https://doi.org/10.21272/hem.2022.3-03 Bozhenko, V. V., Lyeonov, S. V., Polishchuk, E. A., Boyko, A. O., &amp; Artyukhova, N. O. (2022). Identification of determinants of corruption in government: a mar-spline approach. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, 6, 176-180. https://doi.org/10.33271/nvngu/2022-6/176 Bozhenko, V., Mynenko, S., &amp; Shtefan, A. (2022b). Financial Fraud Detection on Social Networks Based on a Data Mining Approach. Financial Markets, Institutions and Risks, 6(4), 119-124. https://doi.org/10.21272/fmir.6(4).119-124.2022 Caballero-Morales, S.-O., Cordero Guridi, J. de J., Alvarez-Tamayo, R. I., &amp; Cuautle-Gutiérrez, L. (2020). EDUCATION 4.0 to support entrepreneurship, social development and education in emerging economies. International Journal of Entrepreneurial Knowledge, 8(2), 89-100. https://doi.org/10.37335/ijek.v8i2.119 Chen, Y., Xu, S., Lyulyov, O., &amp; Pimonenko, T. (2023). China’s digital economy development: incentives and challenges. Technological and Economic Development of Economy, 29(2), 518-538. https://doi.org/10.3846/tede.2022.18018 Ćwiklicki, M., &amp; Wojnarowska, M. (2020). Circular Economy and Industry 4.0: One-Way or Two-way Relationships? Engineering Economics, 31(4), 387-397. https://doi.org/10.5755/j01.ee.31.4.24565 DavidPur, N. (2022). Which Countries are Most Dangerous? Cyber Attack Origin – by Country. Retrieved from: https://blog.cyberproof.com/blog/which-countries-are-most-dangerous (31.01.2023). Dečman, M., Stare, J., &amp; Klun, M. (2022). The impact of the COVID-19 crisis on the development of the information society in Slovenia. Administratie si Management Public, 39, 77-96. https://doi.org/10.24818/amp/2022.39-05 Deutsche Welle (2022). Ukrainian websites hacked in 'global attack'. Retrieved from: https://www.dw.com/en/ukraine-government-websites-hacked-in-global-attack/a-60421475 (31.01.2023). Dluhopolskyi, O., Pakhnenko, O., Lyeonov, S., Semenog, A., Artyukhova, N., Cholewa-Wiktor, M., &amp; Jastrzębski, W. (2023). Digital financial inclusion: COVID-19 impacts and opportunities. Sustainability (Switzerland), 15(3), 2383. https://doi.org/10.3390/su15032383 Economist Intelligence (2023). Democracy Index. Retrieved from: https://www.eiu.com/n/campaigns/democracy-index-2022/?utm_source=google&amp;utm_medium=paid-search&amp;utm_campaign=democracy-index-2022&amp;gclid=CjwKCAjwgqejBhBAEiwAuWHioAEruOQA25JyHg-61MBEiYNJp9hvu3Pf91E_tWO2W0nauZ6on003ORoC6UsQAvD_BwE (31.01.2023). E-Governance Academy (2023). National Cyber Security Index. Retrieved from: https://ncsi.ega.ee/ncsi-index/ (31.01.2023). Fobel, P., &amp; Kuzior, A. (2019). The future (Industry 4.0) is closer than we think. Will it also be ethical? Paper presented at the AIP Conference Proceedings, 2186. https://doi.org/10.1063/1.5137987 Glova, J., Bernatik, W., &amp; Tulai, O. (2020). Determinant Effects of Political and Economic Factors on Country Risk: An Evidence from the EU Countries. Montenegrin Journal of Economics, 16(1), 37-53. https://doi.org/10.14254/1800-5845/2020.16-1.3 Gontareva, I., Babenko, V., Kuchmacz, B., &amp; Arefiev, S. (2020). Valuation of information resources in the analysis of cybersecurity entrepreneurship. Estudios De Economia Aplicada, 38(4), https://doi.org/10.25115/EEA.V38I4.3984 Gupta, A., &amp; Mishra, M. (2022). Ethical Concerns While Using Artificial Intelligence in Recruitment of Employees. Business Ethics and Leadership, 6(2), 6-11. https://doi.org/10.21272/bel.6(2).6-11.2022 Gurbanov, N., Yagublu, N., Akbarli, N., &amp; Niftiyev, I. (2022). Digitalization and the Covid-19-led public crisis management: an evaluation of financial sustainability in the Azerbaijan business sector. SocioEconomic Challenges, 6(3), 23-38. https://doi.org/10.21272/sec.6(3).23-38.2022 Institute for Economics and Peace (2022). Global Terrorism Index 2022. Retrieved from: https://reliefweb.int/report/world/global-terrorism-index-2022 (31.01.2023). Kaspersky (2023). Cyberthreat real-time map. Retrieved from: https://cybermap.kaspersky.com/ (31.01.2023). Krebs, B. (2021). At Least 30,000 U.S. Organizations Newly Hacked Via Holes in Microsoft’s Email Software. Retrieved from: https://krebsonsecurity.com/2021/03/at-least-30000-u-s-organizations-newly-hacked-via-holes-in-microsofts-email-software/ (31.01.2023). Kumar, N., &amp; Kumar, J. (2019). Efficiency 4.0 for Industry 4.0. Human Technology, 15(1), 55-78. https://doi.org/10.17011/ht/urn.201902201608 Kurniawati, E., Kohar, U.H.A., &amp; Pirzada, K. (2022). Change or destroy: the digital transformation of Indonesian MSMES to achieve sustainable economy. Polish Journal of Management Studies, 26(2), 248-264. https://doi.org/10.17512/pjms.2022.26.2.15 Kuzior, A., &amp; Kwilinski, A. (2022). Cognitive technologies and artificial intelligence in social perception. Management Systems in Production Engineering, 30(2), 109-115. https://doi.org/10.2478/mspe-2022-0014 Kuzmenko, O., Šuleř, P., Lyeonov, S., Judrupa, I., &amp; Boiko, A. (2020). Data mining and bifurcation analysis of the risk of money laundering with the involvement of financial institutions. Journal of International Studies, 13(3), 332-339. https://doi.org/10.14254/2071-8330.2020/13-3/22 Lăzăroiu, G., Androniceanu, A., Grecu, I., Grecu, G., &amp; Neguriță, O. (2022). Artificial intelligence-based decision-making algorithms, Internet of Things sensing networks, and sustain-able cyber-physical management systems in big data-driven cognitive manufacturing. Oeconomia Copernicana, 13(4), 1047-1080. https://doi.org/10.24136/oc.2022.030 Lucas, G. (2016). Ethics and Cyber Warfare: The Quest for Responsible Security in the Age of Digital Warfare. Oxford University Press. Lyulyov, O., Lyeonov, S., Tiutiunyk, I., &amp; Podgórska, J. (2021). The impact of tax gap on macroeconomic stability: Assessment using panel VEC approach. Journal of International Studies, 14(1), 139-152. https://doi.org/10.14254/2071-8330.2021/14-1/10 Mačiulytė-Šniukienė, A., Butkus, M., &amp; Davidavičienė, V. (2022). Development of the model to examine the impact of infrastructure on economic growth and convergence. Journal of Business Economics and Management, 23(3), 731-753. https://doi.org/10.3846/jbem.2022.17140 Melnyk, L., Derykolenko, O., Kubatko, O., &amp; Matsenko, O. (2019). Business models of reproduction cycles for digital economy. Paper presented at the CEUR Workshop Proceedings, 2393, 269-276. Retrieved from https://www.scopus.com/record/display.uri?eid=2-s2.0-85069504652&amp;origin=resultslist Melnyk, L., Kubatko, O., Piven, V., Klymenko, K., &amp; Rybina, L. (2021). Digital and economic transformations for sustainable development promotion: A case of OECD countries. Environmental Economics, 12(1), 140-148. https://doi.org/10.21511/EE.12(1).2021.12 Millia, H., Adam, P, Muhatlib, A. A., &amp; Tajuddin and Pasrun, Y. P. (2022). The Effect of Inward Foreign Direct Investment and Information and Communication Technology on Economic Growth in Indonesia. AGRIS on-line Papers in Economics and Informatics, 14(1), 69-79. https://doi.org/10.7160/aol.2022.140106 Mnohoghitnei, I., Horobeț, A., &amp; Belașcu, L. (2022). Bitcoin is so Last Decade-How Decentralized Finance (DeFi) could Shape the Digital Economy. European Journal of Interdisciplinary Studies, 14(1), 87-99. https://doi.org/10.24818/ejis.2022.01 Numbeo (2023). Crime Index by Country 2022. Retrieved from: https://www.numbeo.com/crime/rankings_by_country.jsp?title=2022 (31.01.2023). Orlov, V., Bukhtiarova, A., Marczuk, M., &amp; Heyenko, M. (2021). International economic and social determinants of the state economic security: A causal analysis. Problems and Perspectives in Management, 19(4), 301-310. https://doi.org/10.21511/ppm.19(4).2021.24 Pakhnenko, O., &amp; Kuan, Z. (2023). Ethics of Digital Innovation in Public Administration. Business Ethics and Leadership, 7(1), 113-121. https://doi.org/10.21272/bel.7(1).113-121.2023 Pakhnenko, O., Rubanov, P., Girzheva, O., Ivashko, L., Britchenko, I., &amp; Kozachenko, L. (2022). Cryptocurrency: Value formation factors and investment risks. Journal of Information Technology Management, 14, 179-200. https://doi.org/10.22059/JITM.2022.88896 Perlroth, N., Scott, M, &amp; Frenkel, S. (2017). Cyberattack Hits Ukraine Then Spreads Internationally. Retrieved from: https://www.nytimes.com/2017/06/27/technology/ransomware-hackers.html (31.01.2023). Remeikienė, R., Ligita, G., Fedajev, A., Raistenskis, E., &amp; Krivins, A. (2022). Links between crime and economic development: EU classification. Equilibrium. Quarterly Journal of Economics and Economic Policy, 17(4), 909-938. https://doi.org/10.24136/eq.2022.031 Rousseeuw, P.J. (1987). Silhouettes: a Graphical Aid to the Interpretation and Validation of Cluster Analysis. Computational and Applied Mathematics, 20, 53-65. https://doi.org/10.1016/0377-0427(87)90125-7 Safarov, G., Sadiqova, S., Urazayeva, M., &amp; Abbasova, N (2022). Theoretical and Methodological Aspects of Innovative-Industrial Cluster Development in the Era of Digitalization. Marketing and Management of Innovations, 4, 184-197. https://doi.org/10.21272/mmi.2022.4-17 Șavga, L. (2019). Implementing the Smart Specialization Concept in the Republic of Moldova: Challenges and Initiatives. Journal of Research on Trade, Management and Economic Development, 6(2), 6-17. Şavga, L., &amp; Baran, T. (2022). Boosting the process of smart specialization in the Republic of Moldova. Paper presented in Contemporary Issues in Economy and Technology (pp. 187-196). Shao, X., Wang, D., Li, X., &amp; Shao, H. (2022). Impact of Internet technology on spatial technology heterogeneity: openness or convergence - evidence from provincial data in China. Transformations in Business &amp; Economics, 21(2), 193-213. Shkolnyk, I., Frolov, S., Orlov, V., Datsenko, V., &amp; Kozmenko, Y. (2022). The impact of financial digitalization on ensuring the economic security of a country at war: New measurement vectors. Investment Management and Financial Innovations, 19(3), 119-138. https://doi.org/10.21511/imfi.19(3).2022.11 Smith, E.T. (2013). Cyber warfare: a misrepresentation of the true cyber threat. American Intelligence Journal, 31(1), 82-85. Sobczak, A. (2022). Analysis of the Conditions Influencing the Assimilation of the Robotic Process Automation by Enterprises. Human Technology, 18(2), 143-190. doi: 10.14254/1795-6889.2022.18-2.4 Statista (2023). Most commonly reported cyber crime categories worldwide in 2022, by number of individuals affected. Retrieved from: https://www.statista.com/statistics/184083/commonly-reported-types-of-cyber-crime-global/ (31.01.2023). Stehel, V., Vochozka, M., Kliestik, T., &amp; Bakes, V. (2019). Economic analysis of implementing VMI model using game theory. Oeconomia Copernicana, 10(2), 253-272. https://doi.org/10.24136/oc.2019.013 Straková, J., Talíř, M., &amp; Váchal, J. (2022). Opportunities and threats of digital transformation of business models in SMEs. Economics and Sociology, 15(3), 159-171. https://doi.org/10.14254/2071-789X.2022/15-3/9 The Heritage Foundation (2023). 2023 Index of Economic Freedom. Retrieved from: https://www.heritage.org/index/download (31.01.2023). The World Bank (2023). Life expectancy at birth, total (years). Retrieved from: https://data.worldbank.org/indicator/SP.DYN.LE00.IN (31.01.2023). Tiutiunyk, I. V., Zolkover, A. O., Lyeonov, S. V., &amp; Ryabushka, L. B. (2022a). The impact of economic shadowing on social development: challenges for macroeconomic stability. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, 1, 183-191. https://doi.org/10.33271/nvngu/2022-1/183 Tiutiunyk, I., Cieśliński, W., Zolkover, A., &amp; Vasa, L. (2022b). Foreign direct investment and shadow economy: One-way effect or multiple-way causality? Journal of International Studies, 15(4), 196-212. https://doi.org/10.14254/2071-8330.2022/15-4/12 Tran, L. Q. T., Phan, D. T., Herdon, M., &amp; Kovacs, L. (2022). Assessing the Digital Transformation in Two Banks: Case Study in Hungary. AGRIS on-line Papers in Economics and Informatics, 14(2), 121-134. https://doi.org/10.7160/aol.2022.140210 Transparency International (2023). Corruption_Perceptions_Index. Retrieved from: https://www.transparency.org/en/cpi/2021?gclid=CjwKCAjw67ajBhAVEiwA2g_jEPyd355cvDdhD7SdWVteYeer5WvV3BZFHMo-Ox6p3vXSGk9wKi4p4BoCRJgQAvD_BwE (31.01.2023). Tribune (2020). Major cyber attack by Indian intelligence identified: ISPR. Retrieved from: https://tribune.com.pk/story/2259193/major-cyber-attack-by-indian-intelligence-identified-ispr (31.01.2023). Tvaronaviciene, M., &amp; Burinskas, A. (2020). Industry 4.0 significance to competition and the eu competition policy. Economics &amp; Sociology, 13(3), 244-258. https://doi.org/10.14254/2071-789X.2020/13-3/15 U.S. Department of Homeland Security (2016). Joint Statement from the Department of Homeland Security and Office of the Director of National Intelligence on Election Security. Retrieved from: https://www.dhs.gov/news/2016/10/07/joint-statement-department-homeland-security-and-office-director-national (31.01.2023). Vasudevan, H. (2022). Management and Leadership in the Klang Valley IT Sector: Conceptual Approach. Marketing and Management of Innovations, 3, 56-65. https://doi.org/10.21272/mmi.2022.3-05 Vitvitskiy, S. S., Kurakin, O. N., Pokataev, P. S., Skriabin, O. M., &amp; Sanakoiev, D. B. (2021). Peculiarities of cybercrime investigation in the banking sector of Ukraine: review and analysis. Banks and Bank Systems, 16(1), 69-80. https://doi.org/10.21511/bbs.16(1).2021.07 Voo, J., Hemani, I., &amp; Cassidy, D. (2022). National Cyber Power Index 2022. Retrieved from: https://www.belfercenter.org/sites/default/files/files/publication/CyberProject_National%20Cyber%20Power%20Index%202022_v3_220922.pdf (31.01.2023). Voronenko, I., Nehrey, M., Laptieva, A., Babenko, V., &amp; Rohoza, K. (2022). National cybersecurity: Assessment, risks and trends. International Journal of Embedded Systems, 15(3), 226-238. https://doi.org/10.1504/IJES.2022.124854 Wang, Q., Chen, Y., Guan, H., Lyulyov, O., &amp; Pimonenko, T. (2022). Technological innovation efficiency in China: Dynamic evaluation and driving factors. Sustainability (Switzerland), 14(14). https://doi.org/10.3390/su14148321 Wisevoter (2023). Most Powerful Countries in the World. Retrieved from: https://wisevoter.com/country-rankings/most-powerful-countries-in-the-world/ (31.01.2023). World Happiness Report (2023). World Happiness Report 2022. Retrieved from: https://worldhappiness.report/ed/2022/ (31.01.2023). Yarovenko, H. (2020). Evaluating the threat to national information security. Problems and Perspectives in Management, 18(3), 195-210. https://doi.org/10.21511/ppm.18(3).2020.17 Yarovenko, H., &amp; Rogkova, M. (2022). Dynamic and bibliometric analysis of terms identifying the combating financial and cyber fraud system. Financial Markets, Institutions and Risks, 6(3), 93-104. https://doi.org/10.21272/fmir.6(3).93-104.2022 Yoshimori, H., &amp; Yoshimori, M. (2022). An Education Gift – Integrated Cognitive and Non-Cognitive Skills – for Future Generations to Grow the Economy in the Digital Phase. SocioEconomic Challenges, 6(2), 5-18. https://doi.org/10.21272/sec.6(2).5-18.2022 Yu, Y., Xinxin, W., Ruoxi, L., &amp; Tingting, Y. (2023). The Mediating Role of Human Capital in the Relationship between Education Expenditure and Science and Technology Innovation: Evidence from China. SocioEconomic Challenges, 7(1), 129-138. https://doi.org/10.21272/sec.7(1).129-138.2023 Zimaitis, I., Urbonavičius, S., Degutis, M., &amp; Kaduškevičiūtė, V. (2022). Influence of trust and conspiracy beliefs on the disclosure of personal data online. Journal of Business Economics and Management, 23(3), 551-568. https://doi.org/10.3846/jbem.2022.16119

ABSTRACT This study aimed to determine the factors that influence the level of income inequality in member countries of the Organization of Islamic Cooperation (OC). The research period used was from 2012 to 2021, using the System Generalized Method of Moment (GMM) analysis tool. The variables used consist of the Gini ratio (proxy of income inequality), economic growth, Foreign Direct Investment (FDI), inflation, the average length of schooling (human capital proxy), and corruption perception index (sharia proxy). The results showed that sharia, human, and inflation variables had a negative effect, while economic growth and FDI had a positive and significant effect on income inequality in OIC countries. These results show that in addition to economic factors and human capital, sharia elements cannot be released in overcoming income inequality in OIC countries. Sharia is a driving factor in a more even distribution of income. Keywords: Income Inequality, Organization of Islamic Cooperation (OIC), System Generalized Method of Moment (GMM), Sharia ABSTRAK Penelitian ini bertujuan untuk mengetahui faktor-faktor yang mempengaruhi tingkat ketimpangan pendapatan di negara anggota Organization of Islamic Cooperation (OIC). Periode penelitian yang digunakan adalah dari tahun 2012 sampai dengan tahun 2021, dengan menggunakan alat analisis System Generalized Method of Moment (GMM). Variabel yang digunakan terdiri dari rasio gini (proksi ketimpangan pendapatan), pertumbuhan ekonomi, Foreign Direct Investment (FDI), inflasi, rata-rata lama sekolah (proksi human capital), dan indeks persepsi korupsi (proksi syariah). Hasil penelitian menunjukkan bahwa variabel syariah, human, dan inflasi berpengaruh negatif, sedangkan pertumbuhan ekonomi dan FDI berpengaruh positif dan signifikan terhadap ketimpangan pendapatan di negara-negara OIC. Hasil ini menunjukkan bahwa selain faktor ekonomi dan human capital unsur syariah tidak bisa dilepaskan dalam mengatasi ketimpangan pendapatan di negara OIC. Syariah menjadi faktor pendorong dalam distribusi pendapatan yang lebih merata. Kata kunci: Ketimpangan Pendapatan, Organization of Islamic Cooperation (OIC), System Generalized Method of Moment (GMM), Syariah REFERENCES Abdulkarim, F. M., &amp; Ali, H. S. (2019). Financial inclusions, financial stability, and income inequality in oic countries: A GMM and quantile regression application. Journal of Islamic Monetary Economics and Finance, 5(2), 419–438. doi:10.21098/jimf.v5i2.1069 Alamanda, A. (2021). The effect of economic growth on income inequality: Panel data analysis from fifty countries. Info Artha, 5(1), 1–10. doi:10.31092/jia.v5i1.1176 Anto, M., H. (2011). Introducing an Islamic Human Development Index (I-HDI) to measure development in OIC countries. Islamic Economic Studies, 19(2), 69–95. Arellano, M., &amp; Bond, S. (1991). Some tests of specification for panel data: Monte carlo evidence and an application to employment equations. Review of Economic Studies, 58(2), 277–297. doi:10.2307/2297968 Arellano, M., &amp; Bond, S. (1998). Dynamic panel data estimation using DPD98: A guide for users. Manuscript, Oxford University. Auda, H. (2013). Novel symmetry tests in regression models based on gini mean difference. Metron, 71(1), 21–32. doi:10.1007/S40300-013-0004-1 Badriah, L. S. (2019). Ketimpangan distribusi pendapatan kaitannya dengan pertumbuhan ekonomi dan kemiskinan serta faktor-faktor yang mempengaruhinya. Sustainable Competitive Advantage (SCA-9) FEB UNSOED, 9(1), 232–248. Balseven, H., &amp; Tugcu, C. T. (2017). Analyzing the effects of fiscal policy on income distribution: A comparison between developed and developing countries. International Journal of Economics and Financial Issues, 7(2), 377–383. Blundell, R., &amp; Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115–143. doi:10.1016/S0304-4076(98)00009-8 Boediono. (2011). Pengantar ilmu ekonomi: Ekonomi makro (Empat). Yogyakarta: Penerbit Buku Bhakti Profesindo (BPFE). Bouincha, M., &amp; Karim, M. (2018). Income inequality and economic growth: An analysis using a panel data. International Journal of Economics and Finance, 10(5), 242-253. doi:10.5539/ijef.v10n5p242 Bucevska, V. (2020). Determinants of income inequality in EU candidate countries: A panel analysis. Economic Themes, 57(4), 397–413. doi:10.2478/ethemes-2019-0023 Bulir, A. (1998). Income inequalities: Does inflation matter? IMF Staff Papers, 21–34. doi:10.2307/4621662 Chancel, L., Piketty, T., Saez, E., &amp; Zucman, G. (2022). World inequality report 2022. Retrieved from World Inequality Database website Chapra, M. U. (1993). Islamic and economic development. Islamabat: The Internasional Institute of Islamic Thought. Chapra, M. U. (2008). Ibn Khaldun’s theory of development: Does it help explain the low performance of the present-day muslim world? Journal of Socio-Economics, 37(2), 836–863. doi:10.1016/j.socec.2006.12.051 Checchi, D. (2001). Education, inequality and income inequality. LSE STICERD Research Paper, 52. Coady, D., &amp; Dizioli, A. (2017). Income inequality and education revisited: Persistence, endogeneity, and heterogeneity. IMF Working Papers, 17(126), 1. doi: 10.5089/9781475595741.001 Coibion, O., Gorodnichenko, Y., Kueng, L., &amp; Silvia, J. (2012). Innocent bystanders? Monetary policy and inequality in the U.S. International Monitery Fund Working Paper Series, 1–55. Retrieved from https://www.imf.org/external/pubs/ft/wp/2012/wp12199.pdf Cram, J. A. (2017). Does human capital play a role in the growing income inequality in the OECD countries ? Senior Theses, Trinity College, Hartford. Retrieved from https://core.ac.uk/download/pdf/232744698.pdf Dabla-Norris, E., Kochhar, K., Ricka, F., Suphaphiphat, N., &amp; Tsounta, E. (2015). Causes and consequences of income inequality: A global perspective. IMF Working Paper, 15(13), 1. doi:10.5089/9781513555188.006 Dendo, M., Suryowati, K., &amp; Statistika, J. (2021). Pemodelan tingkat inflasi di Indonesia menggunakan regresi data panel dinamis dengan estimasi FD-GMM Deyshappriya, N. P. Arellano-Bond dan SYS-GMM Blundell-Bond. Jurnal Statistika Industri dan Komputasi, 06(02), 159–170. Deyshappriya, N. P. R. (2017). Impact of macroeconomic in Asian countries. Asian Development Bank Institute (ADBI), 696. Retrieved from https://www.adb.org/publications/impact-macroeconomic-factors-income-inequality-distribution Dilmaghani, A. K., &amp; Tehranchian, A. M. (2015). The impact of monetary policies on the exchange rate: A GMM approach. Iranian Economic Review, 19(2), 177–191. Esmaeili, A., Mansouri, S., &amp; Moshavash, M. (2011). Income inequality and population health in Islamic countries. Public Health, 125(9), 577–584. doi:10.1016/J.PUHE.2011.06.003 Fatoni, A., Herman, S., &amp; Abdullah, A. (2019). Ibn Khaldun model on poverty: The case of Fatoni Organization of Islamic Conference (OIC) Countries. Journal of Islamic Monetary Economics and Finance, 5(2), 341–366. doi:10.21098/jimf.v5i2.1066 Fauziana, H., Wardhana, A. K., &amp; Rusgianto, S. (2022). The effect of education, income, unemployment, and poverty toward the gini ratio in member of OIC Countries. Daengku: Journal of Humanities and Social Sciences Innovation, 2(2), 181–191. doi:10.35877/454RI.DAENGKU874 Figini, P., &amp; Gorg, H. (2006). Does foreign direct investment affect wage inequality? An empirical investigation. SSRN Electronic Journal, 2336. doi:10.2139/ssrn.934507 Firdaus, M. (2020). Aplikasi ekonometrika dengan e-views, stata dan R (Edisi Pertama). Bogor: IPB Press. Galli, R., &amp; Hoeven, R. Van Der. (2001). Is inflation bad for income inequality : The importance of the initial rate of inflation. Employment Paper 2001/29. International Labour Organization. Retrieved from International Labour Organization website Gründler, K., &amp; Potrafke, N. (2019). Corruption and economic growth: New empirical evidence. European Journal of Political Economy, 60. doi:10.1016/J.EJPOLECO.2019.08.001 Gupta, S., Davoodi, H., &amp; Alonso-Terme, R. (2002). Does corruption affect income inequality and poverty? Economics of Governance, 3(1), 23–45. doi:10.1007/s101010100039 Jensen, N. M., &amp; Rosas, G. (2007). Foreign direct investment and income inequality in Mexico, 1990-2000. International Organization, 61(3), 467–487. doi:10.1017/S0020818307070178 Jhingan, M. L. (2018). Ekonomi pembangunan dan perencanaan (18th ed.). Jakarta: Rajawali. Khaldun, I. (2013). Mukaddimah (Tiga). Jakarta: Pustaka Al-Kausar. Kharlamova, G., Stavytskyy, A., &amp; Zarotiadis, G. (2018). The impact of technological changes on income inequality: The EU states case study. Journal of International Studies, 11(2), 76–94. doi:10.14254/2071-8330.2018/11-2/6 King, L. P., &amp; Váradi, B. (2002). Beyond Manichean economics: Foreign direct investment and growth in the transition from socialism. Communist and Post-Communist Studies, 35(1), 1–21. doi:10.1016/S0967-067X(01)00021-6 Kuncoro, M. (2010). Ekonomika pembangunan: Masalah, kebijakan, dan politik. Jakarta: Erlangga. Kuncoro, M. (2013). Mudah memahami dan menganalisis indikator ekonomi. Yogyakarta: Unit Penerbit Dan Percetakan STIM YKPN. Le, Q. H., Do, Q. A., Pham, H. C., &amp; Nguyen, T. D. (2021). The impact of foreign direct investment on income inequality in Vietnam. Southeast Asian Journal of Economics, 9(1), 107–138. doi:10.3390/economies9010027 Lee, J.-W., &amp; Lee, H. (2018). Human capital and income inequality. Asian Development Bank Institute (ADBI) Working Paper Series, 810. Retrieved from https://www.adb.org/sites/default/files/publication/401466/adbi-wp810.pdf Linawati, Y., Wibowo, M. G., Sunaryati, Wau, T., &amp; Abduh, M. (2021). Financial deepening, macroeconomics, and income inequality in Indonesia: An autoregressive distributed lag approach. Journal of Research in Business and Management, 9(8), 23–32. Luan, Z., Zhou, Z., &amp; Dhongde, S. (2017). The relationship between annual gdp growth and income inequality: developed and undeveloped countries. April, 1–18. Retrieved from https://core.ac.uk/download/pdf/84286492.pdf Maestri, V., &amp; Roventini, A. (2012). Inequality and macroeconomic factors: A time-series analysis for a set of OECD Countries. SSRN Electronic Journal, 1–33. doi:10.2139/ssrn.2181399 Mahmooda, S., &amp; Noorb, Z. M. (2015). Effect of human capital inequality and income inequality, estimated by Generalized Method of Moment (GMM). Asia Pacific Journal of Advanced Business and Social Studies, 1(1), 62–71. Mangkoesoebroto. (1993). Ekonomi publik (3rd ed.). Yogyakarta: Penerbit Buku Bhakti Profesindo (BPFE). Mihaylova, S. (2015). Foreign direct investment and income inequality in Central and Eastern Europe. Theoretical and Applied Economics, 22(2), 23–42. Mileva, E. (2007). Using Arellano–Bond dynamic panel GMM estimators in stata. Economics Department Fordham University, 55–92. Mohamad, N. M., Masron, T. A., Wijayanti, R., &amp; Jamil, M. M. (2020). Islamic banking and income inequality: The role of corporate social responsibility. Jurnal Ekonomi Malaysia, 54(2), 77-90. doi:10.17576/JEM-2020-5402-07 Munir, K., &amp; Kanwal, A. (2020). Impact of educational and gender inequality on income and income inequality in South Asian countries. International Journal of Social Economics, 47(8), 1043–1062. doi:10.1108/IJSE-04-2020-0226 Pan-Long, T. (1995). Foreign direct investment and income inequality: Further evidence. World Development, 23(3), 469–483. doi:10.1016/0305-750X(95)00136-Z Krugman, P., &amp; Obstfeld, M. (2004). Ekonomi Internasional (5th ed.). Jakarta: Erlangga. Ravinthirakumaran, K., &amp; Ravinthirakumaran, N. (2018). The impact of foreign direct investment on income inequality: A panel autogressive distributed lag approach for the asia-pacific economic cooperation developing economies. Asia-Pacific Sustainable Development Journal, 25(1), 57–84. doi:10.18356/d30b620b-en Rego, P. D. A. N. de S. (2021). The impact of corruption on income inequality: The role of the political regime. Social Sciences:Economics and Business, Repository University of Porto, 981–993. Roodman, D. (2009). How to do xtabond2: An introduction to difference and system GMM in stata. The Stata Journal: Promoting Communications on Statistics and Stata, 9(1), 86–136. doi:10.1177/1536867X0900900106 Rusydiana, A. S. (2018). Menguji kausalitas antarvariabel ekonomi dan politik: Ibn Khaldun theory on wealth. Jurnal Syarikah : Jurnal Ekonomi Islam, 4(1), 49-58. doi:10.30997/jsei.v4i1.1031 Samuelson, P. A., &amp; Nordhaus, W. D. (1985). Ekonomi (12th ed.). Jakarta: Erlangga. Saputri, S., &amp; Wibowo, M. G. (2018). Determinan pembiayaan UMKM di Indonesia tahun 2011-2015: Pendekatan generalized method of moment (GMM). Al-Amwal: Jurnal Kajian Ekonomi dan Perbankan Syari’ah, 10(1), 32–47. doi: 10.24235/amwal.v10i1.2809 Sheikh, M. R., Ashraf, A., Naheed, K., &amp; Tufail, A. (2022). Economic openness, democracy and income inequality nexus in OIC countries. Harf-o-Sukhan: Scholarly Research Journal, 6(2), 24–33. Stack, S. (1978). The effect of direct government involvement in the economy on the degree of income inequality: A cross-national study. American Sociological Review, 43(6), 880-888. doi:10.2307/2094627 Suanes, M. (2016). Foreign direct investment and income inequality in Latin America: A sectoral analysis. CEPAL Review, 2016(118), 45–61. doi:10.18356/13c68e36-en Sukirno, S. (2013). Makro ekonomi teori pengantar (3rd ed.). Jakarta: Rajawali. Thalassinos, E., Uǧurlu, E., &amp; Muratoǧlu, Y. (2012). Income inequality and inflation in the EU. European Research Studies Journal, 15(1), 127–140. Todaro, M. P. (2003a). Pembangunan Ekonomi di Dunia Ketiga. In 1 (6th Edition). Jakarta: Erlangga. Todaro, M. P. (2003b). Pembangunan Ekonomi Di Dunia Ketiga. In 2 (6th Edition). Jakarta: Erlangga. Todaro, M., &amp; Smith, S. C. (2012). Economic Development (11th edition). Boston: Addison-Wesley. Transparency International. (2023). Corruption perceptions index 2022. Retrieved from www.transparency.org/cpi Ulu, M. İ. (2018). The effect of government social spending on income inequality in OECD: A panel data analysis. International Journal of Economics Politics Humanities and Social Sciences, 1(3), 184–202. UNESCO INSTITUTE For STATISTICS. (2013). UIS methodology for estimation of mean years of schooling. Retrieved from http://www.uis.unesco.org Wang, Y., &amp; Li, H. (2017). An empirical study on the impact of educational gap on income gap. Proceedings of 2017 International Conference on Education Science and Economic Management (ICESEM 2017), 560–563. doi:10.2991/icesem-17.2017.127 Wicaksono, E., Amir, H., &amp; Nugroho, A. (2017). The source of income inequality in Indonesia: a regression-based inequality decomposition. ADBI Working Paper, 667, 1–16. Retrieved from https://www.adb.org/publications/sources-income-inequality-indonesia World Bank. (2022). Gini index data. World Bank. Retrieved from https://data.worldbank.org/indicator/SI.POV.GINI World Inequality Database. (2020). Data - WID - World Inequality Database. World Inequality Database. Retrieved from https://wid.world/data/

ABSTRAK Penurunan profit bisnis kecil akibat implikasi ekonomi pasca pandemi COVID-19. Persoalan struktur permodalan menjadi kendala dalam mempertahankan dan meningkatkan usahanya secara terus menerus seiring kerubahan zaman. Koperasi Syariah sebagai salah satu lembaga keuangan Islam yang keislaman lebih dekat secara eksistensi maupun teritorial dengan masyarakat tingkat bawah sehingga menjadi alternatif pengembangan usaha masyarakat secara syariah sesuai persyaratan yang diberikan. Studi ini bertujuan untuk untuk menganalisis pengaruh literasi keuangan syariah dalam sikap, pengaruh sosial dan self-efficacy terhadap perilaku pemanfaatan produk koperasi syariah di Indonesia. Studi kuantitatif survey online dengan melibatkan 280 calon anggota koperasi syariah yang membutuhkan pembiayaan dan merupakan pemilik UMKM dijalankan dengan teknik analisis SEM PLS. Hasil studi menunjukkan pengaruh literasi keuangan terhadap sikap, pengaruh sosial dan self-efficacy lalu dilanjutkan arah jalur dukungan hipotesis terhadap niat untuk memilih Koperasi Syariah sebagai solusi kebutuhan finansial UMKM ditemukan. Strategi manajerial khususnya pemasaran dikembangkan dengan mempertimbangkan efek sikap positif, pengaruh sosial dan efikasi diri calon anggota sebagai pemilik bisnis atau produk keuangan syariah yang akan mereka tawarkan kepada pelanggan mereka akan berkontribusi pada pertumbuhan sektor UMKM khususnya UMKM Generasi Millenial dan UMKM Hijau di Indonesia melalui upaya promosi dan kerjasama. Kata Kunci: ASE Model, Ekonomi Islam, Koperasi Syariah, Pemberdayaan, UMKM. ABSTRACT The decline in small business profits due to the post-COVID-19 pandemic economy. The issue of capital structure is an obstacle in maintaining and increasing development continuously in line with the changing times. Sharia cooperatives as one of the Islamic financial institutions are closer in existence and territorially to the lower level of society so that they become an alternative for community business development in accordance with the requirements given. This study aims to analyze the effect of Islamic financial literacy on attitudes, social influence and self-efficacy on the application of Islamic cooperative products in Indonesia. Quantitative study of online surveys involving 280 prospective members of Islamic cooperatives who need financing and are MSME owners carried out with the PLS SEM analysis technique. The results of the study show the effect of financial literacy on attitudes, social influence and self-efficacy, then choosing the direction of hypothesis support for the intention to find Islamic Cooperatives as a solution to the financial needs of MSMEs. Managerial strategies especially marketing that are developed taking into account the effects of positive attitudes, social influence and self-efficacy of prospective members as owners or Islamic financial products that they will offer to their customers will increase the growth of the MSME sector, especially Millennial Generation MSMEs and Green MSMEs in Indonesia through promotional efforts and cooperation. Keywords: ASE Model, Islamic Economics, Sharia Cooperatives, Empowerment, MSMEs. REFERENCES Abourrig, A. (2021). Social influence in predicting Islamic banking acceptance: Evidence from Morocco. International Journal of Accounting, Finance, Auditing, 2(2), 42–56. https://doi.org/10.5281/zenodo.4641472 Ajzen, I. (1991a). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T Ajzen, I. (1991b). The theory of planned behavior. Organizational Behavior and Human Decision Processes, 50(2), 179–211. https://doi.org/10.1016/0749-5978(91)90020-T Al-Awlaqi, M. A., &amp; Aamer, A. M. (2022a). Islamic financial literacy and Islamic banks selection: an exploratory study using multiple correspondence analysis on banks’ small business customers. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-09-2021-1354 Al-Awlaqi, M. A., &amp; Aamer, A. M. (2022b). Islamic financial literacy and Islamic banks selection: an exploratory study using multiple correspondence analysis on banks’ small business customers. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-09-2021-1354 Albaity, M., &amp; Rahman, M. (2019). The intention to use Islamic banking: An exploratory study to measure Islamic financial literacy. International Journal of Emerging Markets, 14(5), 988–1012. https://doi.org/10.1108/IJOEM-05-2018-0218 Albashir, W. A., Zainuddin, Y., Krupasindhu Panigrahi, S., &amp; Pahang, M. (2018). The acceptance of Islamic banking products in Libya: A theory of planned behavior approach. International Journal of Economics and Financial Issues, 8(3), 105–111. Ali, H. (2019). Purchase decision and repurchase models: Product quality and process analysis (Case study of house ownership credit financing in permata sharia bank Jakarta). Scholars Bulletin, 05(09), 526–535. https://doi.org/10.36348/sb.2019.v05i09.006 Atal, N. U., Iranmanesh, M., Hashim, F., &amp; Foroughi, B. (2022). Drivers of intention to use Murabaha financing: religiosity as moderator. Journal of Islamic Marketing, 13(3), 740–762. https://doi.org/10.1108/JIMA-07-2019-0147 Berakon, I., Aji, H. M., &amp; Hafizi, M. R. (2022). Impact of digital Sharia banking systems on cash-waqf among Indonesian Muslim youth. Journal of Islamic Marketing, 13(7), 1551–1573. https://doi.org/10.1108/JIMA-11-2020-0337 Budiono, A. (2017). Penerapan prinsip syariah pada lembaga keuangan syariah. Law and Justice, 2(1), 54–65. https://doi.org/10.23917/laj.v2i1.4337 Cristea, M., &amp; Gheorghiu, A. (2016). Attitude, perceived behavioral control, and intention to adopt risky behaviors. Transportation Research Part F: Traffic Psychology and Behaviour, 43, 157–165. https://doi.org/10.1016/j.trf.2016.10.004 Daradkah, D., Aldaher, A. A., &amp; Shinaq, H. R. (2020). Islamic financial literacy: Evidence from Jordan. Transition Studies Review, 27(2), 109–123. https://doi.org/10.14665/1614-4007-27-2-009 De Vries, H., &amp; Mudde, A. N. (1998a). Predicting stage transitions for smoking cessation applying the attitude-social influence-efficacy model. Psychology and Health, 13(2), 369–385. https://doi.org/10.1080/08870449808406757 De Vries, H., &amp; Mudde, A. N. (1998b). Predicting stage transitions for smoking cessation applying the attitude-social influence-efficacy model. Psychology and Health, 13(2), 369–385. https://doi.org/10.1080/08870449808406757 Dewi, M. K., &amp; Ferdian, I. R. (2021). Enhancing Islamic financial literacy through community-based workshops: a transtheoretical model. Journal of Islamic Accounting and Business Research, 12(5), 729–747. https://doi.org/10.1108/JIABR-08-2020-0261 Dietrich, A. M., Kuester, K., Müller, G. J., &amp; Schoenle, R. (2022). News and uncertainty about COVID-19: Survey evidence and short-run economic impact. Journal of Monetary Economics, 129, S35–S51. https://doi.org/10.1016/j.jmoneco.2022.02.004 Duong, T., &amp; Duc Le, N. (2021). PLS-SEM approach in measuring the impact of influencing factors on user’s perceived security and trust in e-payment – The case of rural areas in Vietnam. International Journal of Scientific and Research Publications (IJSRP), 11(4), 357–364. https://doi.org/10.29322/ijsrp.11.04.2021.p11249 Dwi Hernanik, N., &amp; Pratikto, H. (2022). Religiusity and bank products and their relationship with decision making in micro small medium business funding in PT Bank Muamalat Indonesia. International Journal of Science, Technology &amp; Management, 3(4), 1202–1210. https://doi.org/10.46729/ijstm.v3i4.532 Etikan, I. (2016). Comparison of Convenience Sampling and Purposive Sampling. American Journal of Theoretical and Applied Statistics, 5(1), 1. https://doi.org/10.11648/j.ajtas.20160501.11 Farrell, L., Fry, T. R. L., &amp; Risse, L. (2016). The significance of financial self-efficacy in explaining women’s personal finance behaviour. Journal of Economic Psychology, 54, 85–99. https://doi.org/10.1016/j.joep.2015.07.001 Fauzi, R. U. A., Saputra, A., &amp; Ningrum, I. I. P. (2022). The effect of religiosity, profit and loss sharing, and promotion on consumer intention to financing in Islamic bank toward trust as an intervening variable. Jurnal Studi Ekonomi Dan Bisnis Islam, 8(1), 1–14. Fessler, P., Silgoner, M., &amp; Weber, R. (2020). Financial knowledge, attitude and behavior: Evidence from the Austrian survey of financial literacy. Empirica, 47(4), 929–947. https://doi.org/10.1007/s10663-019-09465-2 Firdaus, M. S. (2022). Pemberdayaan pesantren melalui pendirian koperasi syariah dalam meningkatkan ekonomi masyarakat empowering islamic boarding school through the establishment of sharia cooperatives in imroving the economy community koperasi simpan pinjam pembiayaan syariah. ALMUJTAMAE: Jurnal Pengabdian Masyarakat, 2(1), 29–36. https://doi.org/10.30997/almujtamae.v2i1.2952 Gijsbers, B., Mesters, I., Knottnerus, J. A., &amp; Van Schayck, C. P. (2006a). Factors associated with the initiation of breastfeeding in asthmatic families: The attitude–social influence–self-efficacy model. Breastfeeding Medicine, 1(4), 236–246. https://doi.org/10.1089/BFM.2006.1.236 Gijsbers, B., Mesters, I., Knottnerus, J. A., &amp; Van Schayck, C. P. (2006b). Factors associated with the initiation of breastfeeding in asthmatic families: The attitude–social influence–self-efficacy model. Breastfeeding Medicine, 1(4), 236–246. https://doi.org/10.1089/BFM.2006.1.236 Hair, J. F., Risher, J. J., Sarstedt, M., &amp; Ringle, C. M. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2–24. https://doi.org/10.1108/EBR-11-2018-0203 Hair, J., Hollingsworth, C. L., Randolph, A. B., &amp; Chong, A. Y. L. (2017). An updated and expanded assessment of PLS-SEM in information systems research. Industrial Management and Data Systems, 117(3), 442–458. https://doi.org/10.1108/IMDS-04-2016-0130 Hair Jr., J. F., Matthews, L. M., Matthews, R. L., &amp; Sarstedt, M. (2017). PLS-SEM or CB-SEM: updated guidelines on which method to use. International Journal of Multivariate Data Analysis, 1(2), 107. https://doi.org/10.1504/ijmda.2017.10008574 Hakim, L., &amp; Kurnia, A. (2022). Tafsir riba di media sosial perspektif Roy Shakti dan Arli Kurnia. EKOMA: Jurnal Ekonomi, Manajemen, Akuntansi, 1(2), 312–325. Hartono, H., &amp; Ardini, R. (2022). The effect of opportunity recognition and organization capability on SME performance in Indonesia moderated by business model innovation. The Winners, 23(1), 35–41. https://doi.org/10.21512/tw.v23i1.6932 Hasanah, U., &amp; Lubis, S. D. (2022). Penerapan asas kebebasan berkontrak dalam akad pembiayaan mudharabah pada bank syariah Indonesia kantor cabang pembantu Asahan. Taqmin: Jurnal Syariah Dan Hukum, 11(1), 81–92. https://doi.org/10.37893/jbh.v11i1.683 Hayati, S. R. (2019). Strategi bank syariah dalam meningkatkan literasi keuangan syariah pada masyarakat (Studi Kasus pada BPRS Madina Mandiri Sejahtera). JESI (Jurnal Ekonomi Syariah Indonesia), 8(2), 129. https://doi.org/10.21927/jesi.2018.8(2).129-137 Hendrik, S., Iwan, T., Dedi, M. A., &amp; Zaki, B. (2018). Evidence from Indonesia: Is it true that mudharabah financing and micro business financing are at high risk for sharia banking business? RJOAS, 6(June), 197–205. Hikmawati, T. S., &amp; Muharam, H. (2022). The capital market response to the information content of the announcement of Indonesia entering a recession in 2020 and free of recession in 2021 in the covid-19 pandemic. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 5(2), 16019–16027. https://doi.org/https://doi.org/10.33258/birci.v5i2.5518 16019 Hoque, M. N., Rahman, M. K., Said, J., Begum, F., &amp; Hossain, M. M. (2022). What factors influence customer attitudes and mindsets towards the use of services and products of Islamic banks in Bangladesh? Sustainability (Switzerland), 14(8). https://doi.org/10.3390/su14084703 Hutomo Mukti, H. (2020). Development of Indonesian sharia banks with Malaysia comparation method (Study of history, products and legal assets). Lambung Mangkurat Law Journal, 5(1), 75. https://doi.org/10.32801/lamlaj.v5i1.140 Im, I., Hong, S., &amp; Kang, M. S. (2011). An international comparison of technology adoption: Testing the UTAUT model. Information &amp; Management, 48(1), 1–8. https://doi.org/10.1016/J.IM.2010.09.001 Irwansyah, S., &amp; Alam, A. P. (2022). Analisis penggunaan akad pada produk pembiayaan multijasa pada PT. Bank Sumut Syariah KCP Stabat. Jurna Islahiyah, 1. Izuma, K. (2017). The neural bases of social influence on valuation and behavior. In Decision neuroscience: An integrative perspective (pp. 199–209). Academic Press. https://doi.org/10.1016/B978-0-12-805308-9.00016-6 Jaffar, M. A., &amp; Musa, R. (2014). Determinants of attitude towards Islamic financing among halal-certified micro and SMEs: A preliminary investigation. Procedia - Social and Behavioral Sciences, 130, 135–144. https://doi.org/10.1016/j.sbspro.2014.04.017 Jaffar, M. A., &amp; Musa, R. (2016). Determinants of attitude and intention towards Islamic financing adoption among non-users. Fifth International Conference on Marketing and Retailing, 37(16), 227–233. https://doi.org/10.1016/s2212-5671(16)30118-6 Khairi, M. S., &amp; Baridwan, Z. (2015). An empirical study on organizational acceptance accounting information systems in sharia banking. The International Journal of Accounting and Business Society, 23(1), 19. https://doi.org/10.1109/hicss.2000.926665 Lechner, L., &amp; De Vries, H. (1995a). Starting participation in an employee fitness program: Attitudes, social influence, and self-efficacy. Preventive Medicine, 24(6), 627–633. https://doi.org/10.1006/PMED.1995.1098 Lechner, L., &amp; De Vries, H. (1995b). Starting participation in an employee fitness program: Attitudes, social influence, and self-efficacy. Preventive Medicine, 24(6), 627–633. https://doi.org/10.1006/PMED.1995.1098 Leguina, A. (2015). A primer on partial least squares structural equation modeling (PLS-SEM). International Journal of Research &amp; Method in Education, 38(2), 220–221. https://doi.org/10.1080/1743727x.2015.1005806 Madeira, C., &amp; Margaretic, P. (2022). The impact of financial literacy on the quality of self-reported financial information. Journal of Behavioral and Experimental Finance, 34, 100660. https://doi.org/10.1016/j.jbef.2022.100660 Mamman, M., Ogunbado, A. F., &amp; Abu-bakr, A. S. (2016). Factors influencing customer’s behavioral intention to adopt Islamic banking in Northern Nigeria: A proposed framework. Journal of Economics and Finance, 7(1), 51–55. https://doi.org/10.9790/5933-07135155 Mardian, S. (2019). Tingkat kepatuhan syariah di lembaga keuangan syariah. Jurnal Akuntansi Dan Keuangan Islam, 3(1), 57–68. https://doi.org/10.35836/jakis.v3i1.41 Memon, M. A., T., R., Cheah, J.-H., Ting, H., Chuah, F., &amp; Cham, T. H. (2021). PLS-SEM statistical programs: A Review. Journal of Applied Structural Equation Modeling, 5(1), i–xiv. https://doi.org/10.47263/jasem.5(1)06 Mindra, R., Bananuka, J., Kaawaase, T., Namaganda, R., &amp; Teko, J. (2022). Attitude and Islamic banking adoption: Moderating effects of pricing of conventional bank products and social influence. Journal of Islamic Accounting and Business Research, 13(3), 534–567. https://doi.org/10.1108/JIABR-02-2021-0068 Mirzaei, M., &amp; Buer, T. (2022). First results on financial literacy in Oman. Managerial Finance, 48(2), 1–17. https://doi.org/10.1108/MF-09-2021-0456 Mukti, T., Shohiha, T. A., Garbo, A., &amp; Latifah, S. (2022a). The effect of sharia financial literacy on the decision of the use of service products in the sharia pawn in Yogyakarta. The 3rd International Conference on Advance &amp; Scientific Innovation (ICASI) Volume 2022 Research, 2022(1), 273–284. https://doi.org/10.18502/kss.v7i10.11365 Mukti, T., Shohiha, T. A., Garbo, A., &amp; Latifah, S. (2022b). The effect of sharia financial literacy on the decision of the use of service products in the sharia pawn in Yogyakarta. The 3rd International Conference on Advance &amp; Scientific Innovation (ICASI) Volume 2022 Research, 2022(1), 273–284. https://doi.org/10.18502/kss.v7i10.11365 Nimfa, D. T., Abdul Wahab, S., Shaharudin Abdul Latiff, A., &amp; Abd Wahab, S. (2021). Theories underlying sustainable growth of small and medium enterprises. African Journal of Emerging Issues (AJOEI). Online ISSN, 3, 43–66. Nugroho, A. P., Hidayat, A., &amp; Kusuma, H. (2017a). The influence of religiosity and self-efficacy on the saving behavior of the Islamic banks. Banks and Bank Systems, 12(3), 35–47. https://doi.org/10.21511/bbs.12(3).2017.03 Nugroho, A. P., Hidayat, A., &amp; Kusuma, H. (2017b). The influence of religiosity and self-efficacy on the saving behavior of the Islamic banks. Banks and Bank Systems, 12(3), 35–47. https://doi.org/10.21511/bbs.12(3).2017.03 Ouachani, S., Belhassine, O., &amp; Kammoun, A. (2021). Measuring financial literacy: A literature review. Managerial Finance, 47(2), 266–281. https://doi.org/10.1108/MF-04-2019-0175 Purwantini, A. H., Noor Athief, F. H., &amp; Waharini, F. M. (2020). Indonesian consumers’ intention of adopting Islamic financial technology services. Shirkah: Journal of Economics and Business, 5(2), 171. https://doi.org/10.22515/shirkah.v5i2.304 Purwanto, A., &amp; Sudargini, Y. (2021). Partial Least Squares Structural Equation Modeling (PLS-SEM) analysis for social and management research: A literature review. Journal of Industrial Engineering &amp; Management Research, 2(4), 114–123. Rahman, S. A., Tajudin, A., &amp; Tajuddin, A. F. A. (2018a). Determinant factors of Islamic financial literacy in Malaysia. American Journal of Humanities and Social Sciences Research, 2(10), 125–132. Rahman, S. A., Tajudin, A., &amp; Tajuddin, A. F. A. (2018b). Determinant factors of Islamic financial literacy in Malaysia. American Journal of Humanities and Social Sciences Research, 2(10), 125–132. Rai, N., &amp; Thapa, B. (2015). A study on purposive sampling method in research. In Kathmandu Publisher (1st ed.). Kathmandu School of Law. Rasheed, R., &amp; Siddiqui, S. H. (2022). SMEs behavioral intention towards usage of financial products: A comparative study of Islamic and conventional Banks in Pakistan. Sustainable Business and Society in Emerging Countries, 4(1), 141–150. Razak, D. A., &amp; Abduh, M. (2012a). Customers’ attitude towards diminishing partnership home financing in Islamic banking. American Journal of Applied Sciences, 9(4), 593–599. Razak, D. A., &amp; Abduh, M. (2012b). Customers’ attitude towards diminishing partnership home financing in Islamic banking. American Journal of Applied Sciences, 9(4), 593–599. Rigdon, E. E., Sarstedt, M., &amp; Ringle, C. M. (2017). On comparing results from CB-SEM and PLS-SEM: Five perspectives and five recommendations. Marketing ZFP, 39(3), 4–16. https://doi.org/10.15358/0344-1369-2017-3-4 Rini, E. E. D. S. (2022). Pengaruh promosi, penerapan prinsip syariah dan bagi hasil terhadap keputusan menjadi bank BNI syariah cabang Pasuruan. An-Nisbah: Jurnal Perbankan Syariah, 33(1), 1–12. Rokhman, W., &amp; Abduh, M. (2020). Antecedents of SMEs’ satisfaction and loyalty towards Islamic microfinance: Evidence from Central Java, Indonesia. Journal of Islamic Marketing, 11(6), 1327–1338. https://doi.org/10.1108/JIMA-05-2018-0090 Safe’i, A. (2012). Koperasi syariah: Tinjauan terhadap kedudukan dan peranannya dalam pemberdayaan ekonomi kerakyatan. Media Syariah, 14(1), 39–62. Sarstedt, M., Hair, J. F., Cheah, J. H., Becker, J. M., &amp; Ringle, C. M. (2019). How to specify, estimate, and validate higher-order constructs in PLS-SEM. Australasian Marketing Journal, 27(3), 197–211. https://doi.org/10.1016/j.ausmj.2019.05.003 Saygılı, M., Durmuşkaya, S., Sütütemiz, N., &amp; Ersoy, A. Y. (2022a). Determining intention to choose Islamic financial products using the attitude–social influence–self-efficacy (ASE) model: the case of Turkey. International Journal of Islamic and Middle Eastern Finance and Management. https://doi.org/10.1108/IMEFM-11-2020-0569 Saygılı, M., Durmuşkaya, S., Sütütemiz, N., &amp; Ersoy, A. Y. (2022b). Determining intention to choose Islamic financial products using the attitude–social influence–self-efficacy (ASE) model: the case of Turkey. International Journal of Islamic and Middle Eastern Finance and Management. https://doi.org/10.1108/IMEFM-11-2020-0569 Sevriana, L., Febrian, E., Anwar, M., &amp; Ahmad Faisal, Y. (2022). A proposition to implement inclusive Islamic financial planning in Indonesia through bibliometric analysis. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/JIABR-01-2022-0022 Shabrina, Z., Yuliati, L. N., &amp; Simanjuntak, M. (2018). The effects of religiosity, pricing and corporate image on the attitude and the intention to use sharia micro financing. Indonesian Journal of Business and Entrepreneurship, 4(2), 197–206. https://doi.org/10.17358/ijbe.4.2.197 Sitepu, C. F., &amp; Hasyim, H. (2018). Perkembangan ekonomi koperasi di indonesia. Niagawan, 7(2), 59–68. https://doi.org/10.24114/niaga.v7i2.10751 Srisusilawati, P., Malik, Z. A., Silviany, I. Y., &amp; Eprianti, N. (2021). The roles of self-efficacy and sharia financial literacy to SMEs performance: business model as an intermediate variable. F1000Research, 10(May), 1310. https://doi.org/10.12688/f1000research.76001.1 Sumiyati, Y., Januarita, R., Ramli, T. A., &amp; Yusdiansyah, E. (2021a). Konstruksi hukum terhadap penetapan bunga tinggi pada investasi yang diselenggarakan koperasi simpan pinjam. Jurnal Magister Hukum Udayana (Udayana Master Law Journal), 10(2), 385. https://doi.org/10.24843/jmhu.2021.v10.i02.p14 Sumiyati, Y., Januarita, R., Ramli, T. A., &amp; Yusdiansyah, E. (2021b). Konstruksi hukum terhadap penetapan bunga tinggi pada investasi yang diselenggarakan koperasi simpan pinjam. Jurnal Magister Hukum Udayana (Udayana Master Law Journal), 10(2), 385. https://doi.org/10.24843/jmhu.2021.v10.i02.p14 Syamsiyah, N., Syahrir, A. M., &amp; Susanto, I. (2019). Peran koperasi syariah baitul tamwil muhammadiyah terhadap pemberdayaan usaha kecil dan menengah di Bandar Lampung. Al Amin: Jurnal Kajian Ilmu Dan Budaya Islam, 2(1), 63–73. https://doi.org/10.36670/alamin.v2i1.17 Takidah, E., &amp; Kassim, S. (2021). Determinants of Islamic financial inclusion in Indonesia: A demand-side analysis. Journal of Islamic Finance, 10(2), 38–52. Venkatesh, V. (2022). Adoption and use of AI tools: A research agenda grounded in UTAUT. Annals of Operations Research, 308(1–2), 641–652. https://doi.org/10.1007/s10479-020-03918-9 Vidia Khairunnisa, B., &amp; Hendratmi, A. (2019). The influence of product knowledge and attitude towards intention in mudharabah funding products in sharia banks in Mataram. KnE Social Sciences, 3(13), 663. https://doi.org/10.18502/kss.v3i13.4239 Widityani, S. F., Faturohman, T., Rahadi, R. A., &amp; Yulianti, Y. (2020). Do socio-demographic characteristics and Islamic financial literacy matter for selecting Islamic financial products among college students in Indonesia? Journal of Islamic Monetary Economics and Finance, 6(1), 51–76. https://doi.org/10.21098/jimf.v6i1.1057 Yuniar, A., Talli, A. H., &amp; Kurniati, K. (2021). Bisnis koperasi syariah di Indonesia. Al-Azhar Journal of Islamic Economics, 3(2), 79–88. https://doi.org/10.37146/ajie.V3i2.103 Zaman, Z., Mehmood, B., Aftab, R., Shahid, M., &amp; Ameen, Y. (2017). Role of Islamic financial literacy in the adoption of Islamic banking services: An empirical evidence from Lahore, Pakistan. Journal of Islamic Business and Management (JIBM), 7(2), 230–247. https://doi.org/10.26501/jibm/2017.0702-006 Ziky, M., &amp; Daouah, R. (2019). Exploring small and medium enterprises’ perceptions towards Islamic banking products in Morocco. International Journal of Economics and Finance, 11(10), 106. https://doi.org/10.5539/ijef.v11n10p106

All facets of our lives and activities have been significantly impacted by the introduction of clever new technology, smart mobile connections, and online services. The world around us is also greatly impacted by this development. In the modern world, libraries and library services are very influential. The current study's objective is to investigate how Internet of Things, a novel technology, is used in libraries and educational facilities. Librarians should be aware of the various features of IOT in libraries and services since new technologies have raised user expectations from library services. They should also receive training on user behavior and IOT security concerns in libraries. Libraries and their services will continue to be impacted by the IOT in a variety of ways, including construction, collection management, instruction, data security, information literacy, and more. This study also aims to familiarize readers with emerging IOT technologies that libraries might employ to enhance user satisfaction and provide better services. References Asif, M., Khan, A., &amp; Pasha, M. A. (2019). Psychological capital of employees’ engagement: moderating impact of conflict management in the financial sector of Pakistan. Global Social Sciences Review, IV, 160-172. Asif, M., &amp; Sandhu, M. S. (2023). Social Media Marketing Revolution in Pakistan: A Study of its Adoption and Impact on Business Performance. Journal of Business Insight and Innovation, 2(2), 67-77. Baber, M., Islam, K., Ullah, A., &amp; Ullah, W. (2024). Libraries in the Age of Intelligent Information: AI-Driven Solutions. International Journal of Applied and Scientific Research, 2(1), 153–176. https://doi.org/10.59890/ijasr.v2i1.1295 Badhan, I. A., Neeroj, M. H., &amp; Rahman, S. (2024). CURRENCY RATE FLUCTUATIONS AND THEIR IMPACT ON SUPPLY CHAIN RISK MANAGEMENT: AN EMPIRICAL ANALYSIS. International journal of business and management sciences, 4(10), 6-26. Bansal, A., Arora, D., &amp; Suri, A. (2018). Internet of things: Beginning of new era for libraries. Library Philosophy and Practice, 1, 1-7. Bansal, A., Arora, D., &amp; Suri, A. (2018). Internet of things: Beginning of new era for libraries. Library Philosophy and Practice, 1, 1-7. Clark, J. (2017). Preface to social economics: economic theory and social problems. Routledge. Clark, M., &amp; Tilman, D. (2017). Comparative analysis of environmental impacts of agricultural production systems, agricultural input efficiency, and food choice. Environmental Research Letters, 12(6), 064016. Devi, P. D., Mirudhula, S., &amp; Devi, A. (2021, November). Advanced Library Management System using IoT. In 2021 Fifth International Conference on I-SMAC (IoT in Social, Mobile, Analytics and Cloud)(I-SMAC) (pp. 150-154). IEEE.https://doi.org/10.1109/ICICCS51141.2021.9432378 Iqbal, M., Khan, M. K., &amp; Sheikh, A. (2023), "Use of software for automation of academic libraries in Sialkot", Information Discovery and Delivery, Vol. 51 No. 4, pp. 417-428. https://doi.org/10.1108/IDD-08-2022-0081 Ketu, S. and Mishra, P.K. (2021). Cloud, Fog and Mist Computing in IoT: An Indication of Emerging Opportunities, IETE Technical Review, 1–12 Khan, A.U., Zhang, Z., Chohan, S.R., &amp; Rafique, W. (2022), "Factors fostering the success of IoT services in academic libraries: a study built to enhance the library performance", Library Hi Tech, Vol. 40 No. 6, pp. 1976-1995. https://doi.org/10.1108/LHT-06-2021-0179 Khan, M. K., &amp; Ullah, A. (2024). Exploring the elements that influence postgraduate students’ reading trends in university libraries in Islamabad. Inverge Journal of Social Sciences, 3(3), 54–67. Retrieved from https://invergejournals.com/index.php/ijss/article/view/93 Khan, M. K., Imran, M., &amp; Sheikh, A. (2024). Exploring professional competencies of college librarians in Sahiwal division, Pakistan. IJoLIS, 8. Retrieved from https://ojs.aiou.edu.pk/index.php/jlis/article/view/2192 Khan, M. K., Usman, M., &amp; Mustafa, S. (2023). Use of innovative tools for library marketing in the university libraries of Lahore, Pakistan. International Journal of Innovative Science and Research Technology, 7(11), 792–799. https://doi.org/10.5281/zenodo.7395135 Khanna, A., &amp; Kaur, S. (2020). Internet of things (IoT), applications and challenges: a comprehensive review. Wireless Personal Communications, 114, 1687-1762. Laghari, A. A., Wu, K., Laghari, R. A., Ali, M., &amp; Khan, A. A. (2021). A review and state of art of Internet of Things (IoT). Archives of Computational Methods in Engineering, 1-19. Lapointe, C., &amp; Fishbane, L. (2019). The blockchain ethical design framework. Innovations: Technology, Governance, Globalization, 12(3-4), 50-71. Li, C. (2021). Construction of intelligent service system of university library based on internet of things in artificial intelligence environment. 2021 5th International Conference on Intelligent Computing and Control Systems (ICICCS), 471–474. Maepa, M. R., &amp; Moeti, M. N. (2021). Iot-based smart library seat occupancy and reservation system using rfid and fsr technologies for south african universities of technology. Proceedings of the International Conference on Artificial Intelligence and Its Applications, 1–8. https://doi.org/10.1145/3487923.3487933 Maepa, M. R., &amp; Moeti, M. N. (2021, December). IoT-based smart library seat occupancy and reservation system using RFID and FSR technologies for South African universities of technology. In Proceedings of the International Conference on Artificial Intelligence and its Applications (pp. 1-8). Mondal, R., Deb, S., Shome, G., Ganguly, U., Lahiri, D., &amp; Benito-Leon, J. (2021). COVID-19 and emerging spinal cord complications: A systematic review. Multiple sclerosis and related disorders, 51, 102917. Muhamad, S. S., &amp; Darwesh, A. M. (2020). Smart university library management system based on internet of things. UHD Journal of Science and Technology, 4(2), 63–74. https://doi.org/10.21928/uhdjst.v4n2y2020. Muhamad, S. S., &amp; Darwesh, A. M. (2020). Smart university library management system based on Internet of Things. UHD Journal of Science and Technology, 4(2), 63-74. Mumtaz, A., Munir, N., Mumtaz, R., Farooq, M., &amp; Asif, M. (2023). Impact Of Psychological &amp; Economic Factors On Investment Decision-Making In Pakistan Stock Exchange. Journal of Positive School Psychology, 130-135. Nishan, A., Raju, S. T. U., Hossain, M. I., Dipto, S. A., Uddin, S. T., Sijan, A., ... &amp; Khan, M. M. H. (2024). A continuous cuffless blood pressure measurement from optimal PPG characteristic features using machine learning algorithms. Heliyon, 10(6). https://doi.org/10.1016/j.heliyon.2024.e27779 Potter, W. J. (2014). A critical analysis of cultivation theory. Journal of communication, 64(6), 1015-1036. Qin, J. (2018). The research of the library services based on internet of things. Proceedings of the 4th International Symposium on Social Science (ISSS 2018). 4th International Symposium on Social Science (ISSS 2018), Dalian, China. https://doi.org/10.2991/isss-18.2018.83. Qin, T., Li, P., &amp; Shen, S. (2018). Vins-mono: A robust and versatile monocular visual-inertial state estimator. IEEE transactions on robotics, 34(4), 1004-1020. Rahman, S., Alve, S. E., Islam, M. S., Dutta, S., Islam, M. M., Ahmed, A., ... &amp; Kamruzzaman, M. (2024). UNDERSTANDING THE ROLE OF ENHANCED PUBLIC HEALTH MONITORING SYSTEMS: A SURVEY ON TECHNOLOGICAL INTEGRATION AND PUBLIC HEALTH BENEFITS. Frontline Marketing, Management and Economics Journal, 4(10), 16-49. Rahman, S., Islam, M., Hossain, I., &amp; Ahmed, A. (2024). THE ROLE OF AI AND BUSINESS INTELLIGENCE IN TRANSFORMING ORGANIZATIONAL RISK MANAGEMENT. International journal of business and management sciences, 4(09), 7-31. Rahman, M. S., &amp; Islam, A. R. M. T. (2019). Are precipitation concentration and intensity changing in Bangladesh overtimes? Analysis of the possible causes of changes in precipitation systems. Science of the Total Environment, 690, 370-387. Raju, S. T. U., Dipto, S. A., Hossain, M. I., Chowdhury, M. A. S., Haque, F., Nashrah, A. T., ... &amp; Hashem, M. M. A. (2024). DNN-BP: a novel framework for cuffless blood pressure measurement from optimal PPG features using deep learning model. Medical &amp; Biological Engineering &amp; Computing, 1-22. https://www.researchsquare.com/article/rs-2624386/v1 Raju, S. T. U., Dipto, S. A., Hossain, M. I., Chowdhury, M. A. S., Haque, F., Nashrah, A. T., ... &amp; Hashem, M. M. A. (2023). A Novel Technique for Continuous Blood Pressure Estimation from Optimal Feature Set of PPG Signal Using Deep Learning Approach. https://www.researchsquare.com/article/rs-2624386/v1 Sinha, P., &amp; Brar, K. S. (2024). Awareness and Perception of Students toward Execution of Internet of Things in Library Services: A study of Indian Institute Technologies of Northern India. Open Information Science, 8(1), 20220167. Ullah, A., Shahzad, F., Ahmad, W., &amp; Naseer, M. (2024). MOBILE PERSONAL INFORMATION MANAGEMENT SKILLS OF THE UNIVERSITY LIBRARIANS IN PAKISTAN. Remittances Review, 9, 405-431. Ullah, A., Usman, M., &amp; Baber, M. (2023). Role of Libraries in Enhancing Research Support Services in Islamabad Universities: Role of Libraries in Enhancing Research Support Services. Journal of Social Sciences, 14(1), 40-55. Retrieved from //jss.gcuf.edu.pk/index.php/jss/article/view/94 Ullah, A., Usman, M., &amp; Khan, M. (2023). Challenges in delivering modern library services in the 21st century. International Journal of Social Science Exceptional Research, 2(6), 146-151. DOI: https://doi.org/10.54660/IJSSER.2023.2.6.146-151 Wang, D., Wang, H., &amp; Fu, Y. (2021). Blockchain-based IoT device identification and management in 5G smart grid. EURASIP Journal on Wireless Communications and Networking, 2021(1), 125.

The exploratory research in 2020 received a lot of attention in trade journals in the Netherlands and in the international context of academic journals, webinars and conferences. This led to this research in 2021, including a reorientation on the structure of the research. Due to the further development of the faculty in 2020 and 2021, the questions from the research were further professionalized, peer reviewed by experts and supplemented. In addition, it is interesting and scientifically important to place the research more in both a national and international perspective, both with regard to professional groups and with regard to other studies, such as that of Controllers Magazine, After various inventorying discussions at the end of 2020, whether or not at the request of the stakeholders, this led to a reorientation on the conducting of the research. At the beginning of 2021, the study was therefore extended almost simultaneously to: (a) all members of the Working field commission (Werkveldcommissie; WVC) of the Accountancy (AC), Finance, Tax and Advice (FTA, formerly Fiscal Law and Economics) and Finance &amp; Control (FC) programmes of the Academy of Finance, Economics and Management (FEM) at Saxion University of Applied Sciences, (b) all members of the foundation of collaborating chartered accountants and accounting and bookkeeping firms (SRA), a network organization of 375 independent audit firms with 900 branches in the Netherlands, and (c) international sister universities of Saxion University of Applied Sciences.

ABSTRACT Islamic banking in Indonesia and Malaysia experienced differences in asset growth and market share, potentially causing dissimilarity in profitability performance. This study aims to evaluate the factors that influence the increase in profitability of Islamic banking in Indonesia and Malaysia using signaling theory including market concentration (HHI), company size and financing risk (NPF), and national income (GDP) as control variables. It analyzed the Indonesian and Malaysian Islamic banks during the period 2017-2021. The method used in this study is comparative descriptive with panel data regression analysis measuring instruments. Based on the results of empirical analysis, factors that affect the profitability of Islamic banking in Indonesia are financing risk, while in Malaysia, it is financing risk and national income. The results of this study update the view on the profitability of Islamic banking in Indonesia and Malaysia. In addition, from the managerial side, this study contributes to creating NPF control in Indonesian Islamic banking because these factors can increase the profitability of the country's Islamic banking. The study also contributes to the development of market concentration strategies, company size, and financing risks in Malaysian Islamic banking as all these factors can increase the profitability of the country's Islamic banking. Keywords: Islamic Banking, Profitability, Market Concentration, Company Size, Financing Risk ABSTRAK Perbankan syariah Indonesia dan Malaysia mengalami perbedaan dalam pertumbuhan aset dan market share sehingga berpotensi menimbulkan perbedaan kinerja profitabilitas. Studi ini bertujuan untuk mengevaluasi faktor yang mempengaruhi peningkatan profitabilitas perbankan syariah di Indonesia dan Malaysia dengan menggunakan signaling theory diantaranya konsentrasi pasar (HHI), ukuran perusahaan dan risiko pembiayaan (NPF) serta pendapatan nasional (GDP) sebagai variabel kontrol. Studi ini menganalisis bank syariah di Indonesia dan Malaysia selama periode 2017-2021. Metode yang digunakan oleh studi ini adalah komparatif deskriptif dengan alat ukur analisis regresi data panel. Berdasarkan hasil analisis empiris, faktor yang mempengaruhi profitabilitas perbankan syariah Indonesia adalah risiko pembiayaan sedangkan di Malaysia adalah risiko pembiayaan serta pendapatan nasional. Hasil penelitian ini memperbaharui pandangan tentang profitabilitas perbankan syariah Indonesia dan Malaysia. Selain itu dari sisi manajerial, studi ini berkontribusi dalam menciptakan pengendalian NPF pada perbankan syariah Indonesia karena faktor tersebut mampu meningkatkan profitabilitas perbankan syariah negara tersebut. Selain itu studi ini juga berkontribusi dalam pengembangan strategi konsentrasi pasar, ukuran perusahaan dan risiko pembiayaan pada perbankan syariah Malaysia karena semua faktor tersebut mampu meningkatkan profitabilitas perbankan syariah negara tersebut. Kata Kunci: Bank Syariah, Profitabilitas, Konsentrasi Pasar, Ukuran Perusahaan, Risiko Pembiayaan REFERENCE Abbas, A., &amp; Arizah, A. (2019). Marketability, profitability, and profit-loss sharing: evidence from sharia banking in Indonesia. Asian Journal of Accounting Research, 4(2), 315–326. doi:10.1108/AJAR-08-2019-0065 Adelopo, I., Lloydking, R., &amp; Tauringana, V. (2018). Determinants of bank profitability before, during, and after the financial crisis. International Journal of Managerial Finance, 14(4), 378–398. doi:10.1108/IJMF-07-2017-0148 Affandi, M. (2021). Konsep dasar pasar dalam Islam (1st ed., Vol. 1). Tangerang Selatan: Universitas Terbuka. Almunawwaroh, M., &amp; Rina M. (2018). Pengaruh CAR, NPF dan FDR terhadap profitabilitas syariah di Indonesia. Amwaluna: Jurnal Ekonomi dan Keuangan Syariah, 2(1), 1–18. doi:10.29313/amwaluna.v2i1.3156 Alsharari, N.M., &amp; Alhmoud T.R. (2019). The determinants of profitability in Sharia-compliant corporations: Evidence from Jordan. Journal of Islamic Accounting and Business Research, 10(4), 546–564. doi:10.1108/JIABR-05-2016-0055 Arrohmah, K., &amp; Soelistyo, A. (2010). Analisis pengaruh pendapatan nasional dan tingkat suku bunga terhadap penghimpunan dana pihak ketiga pada bank umum di Indonesia. JEPE: Jurnal Ekonomi Pembangunan, 8(1), 262–262. Bernama. (2022). Malaysia top of the chart in global Islamic finance ranking for 10th year. Retrieved from https://www.bernama.com/en/business/news.php?id=2150286 Bolarinwa, S. T., Obembe, O. B., &amp; Olaniyi, C. (2019). Re-examining the determinants of bank profitability in Nigeria. Journal of Economic Studies, 46(3), 633–651. doi:10.1108/JES-09-2017-0246 Boone J, &amp; Weigand J. (2000). Measuring competition in the dutch manufacturing sector: how are cost differentials mapped into profit differentials? CPB Netherlands Bureau for Economic Policy Analysis,131. Deari, F., Kukeli, A., Barbuta-Misu, N., &amp; Virlanuta, F. O. (2022). Does working capital management affect firm profitability? Evidence from European Union countries. Journal of Economic and Administrative Sciences. doi:10.1108/jeas-11-2021-0222 Derbali, A. (2021). Determinants of the performance of Moroccan banks. Journal of Business and Socio-Economic Development, 1(1), 102–117. doi:10.1108/jbsed-01-2021-0003 Dewi, D. A. I. Y. M., &amp; Sudiartha, G. M. (2017). Pengaruh profitabilitas, ukuran perusahaan, dan pertumbuhan aset terhadap struktur modal dan nilai perusahaan. E-Jurnal Manajemen Unud, 6(4), 2222–2252. DOSM. (2019). Malaysian economic performance. Malaysia: Department of Statistics Malaysia. Fadhillah, K. (2022). Pangsa Pasar adalah: Definisi dan peran pentingnya dalam bisnis. Retrieved from https://www.jojonomic.com/blog/pangsa-pasar-adalah/ Farid. (2021). Manajemen risiko dalam perbankan syariah. Muhasabatuna, 3(2), 67–80. doi:10.54471/muhasabatuna.v3i2.1184 Fauziana, L., Mulyaningsih, A., Anggraeni, E., Chaola, S., &amp; Rofida, U. (2014). Keterkaitan investasi modal terhadap GDP Indonesia. Economics Development Analysis Journal, 3(2), 32-380. doi:10.15294/edaj.v3i2.3845 Gani, I. M., &amp; Bahari, Z. (2021). Islamic banking’s contribution to the Malaysian real economy. ISRA International Journal of Islamic Finance, 13(1), 6–25. doi:10.1108/ijif-01-2019-0004 GBO Specialist. (2022). Best and largest Islamic banks in the world. Retrieved from https://money-gate.com/largest-islamic-banks-in-the-world/ Hamza, H., &amp; Kachtouli, S. (2014). Competitive conditions and market power of Islamic and conventional commercial banks. Journal of Islamic Accounting and Business Research, 5(1), 29–46. doi:10.1108/JIABR-05-2012-0030 Hamza, L. M., &amp; Agustien, D. (2019). Pengaruh perkembangan usaha mikro, kecil, dan menengah terhadap pendapatan nasional pada sektor UMKM di Indonesia. Jurnal Ekonomi Pembangunan, 8(2), 127-135. doi:10.23960/jep.v8i2.45 Hargrave, M. (2022). Return on Assets (ROA): Formula and “Good” ROA defined. Retrieved from https://www.investopedia.com/terms/r/returnonassets.asp. Hashmi S.D, Gulzar S, &amp; Ghafoor Z. (2020). Sensitivity of firm size measures to practices of corporate finance; evidence from BRICS. Futur Business Journal, 6(9). doi:10.1186/s43093-020-00015-y Hardjo, K., &amp; Tourani-Rad, A. (2011). The role of accruals as a signal in earnings and dividend announcements : New Zealand evidence. Journal of Applied Accounting Research, 12(2), 108–122. doi:10.1108/09675421111160682 Hendra, S. T. N., &amp; Hartomo, D. D. (2017). Pengaruh konsentrasi dan pangsa pasar terhadap pengambilan resiko bank. Journal of Business and Management, 17(2), 35–50. Hosen, M. N., &amp; Muhari, S. (2018). The comparison of sound level of Islamic banks in Indonesia and Malaysia. KnE Social Science, 3(8), 137–150. doi:10.18502/kss.v3i8.2505 Karnadi, A. (2022). Keuangan Syariah Indonesia terbaik kedua di dunia pada 2021. Retrieved from https://dataindonesia.id/ekonomi/detail/keuangan-syariah-indonesia-terbaik-kedua-di-dunia-pada-2021 Kothari, C.R. (2004). Reseach methodology (2nd ed). New Delhi: New Age International. Kurnia, R. A. E., Sawarjuwono, T., &amp; Herianingrum, S. (2017). Manajemen risiko pembiayaan untuk mengantisipasi kondisi financial distress pada bank syariah. Islamic Economics Lariba, 3(2), 51–64. doi:10.20885/jielariba.vol3.iss2.art1 Le, T. D., &amp; Ngo, T. (2020). The determinants of bank profitability: A cross-country analysis. Central Bank Review, 20(2), 65–73. doi:10.1016/j.cbrev.2020.04.001 Mirzae, A., &amp; Moore, T. (2014). What are the driving forces of bank competition across differentinkurncome groups of countries? Journal of International Financial Markets, Institutions and Money, 32, 38–71. doi:10.1016/j.intfin.2014.05.003 Novari, P. M., &amp; Lestari, P. V. (2016). Pengaruh ukuran perusahaan, leverage, dan profitabilitas terhadap nilai perusahaan pada sektor properti dan real estate. E-Jurnal Manajemen Unud, 5(9), 5671–5694. O’Connell, M. (2022). Bank-specific, industry-specific and macroeconomic determinants of bank profitability: evidence from the UK. Studies in Economics and Finance, 40 (1), 155-174. doi:10.1108/SEF-10-2021-0413 Oktavianti, S. (2015). Pengaruh ukuran perusahaan, modal kerja, arus kas terhadap likuiditas (Studi pada perusahaan manufaktur sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia periode 2009-2013). Skripsi. Program Sarjana Universitas Widyatama. Bandung. Ozili, P. K., &amp; Ndah, H. (2021). Impact of financial development on bank profitability. Journal of Economic and Administrative Sciences. doi:10.1108/jeas-07-2021-0140 Ozili, P. K., &amp; Uadiale, O. (2017). Ownership concentration and bank profitability. Future Business Journal, 3(2), 159–171. doi:10.1016/j.fbj.2017.07.001 Pasiouras, F., &amp; Kosmidou, K. (2007). Factors influencing the profitability of domestic and foreign commercial banks in the European Union. Research in International Business and Finance, 21(2), 222–237. doi:10.1016/j.ribaf.2006.03.007 Ponraj, P., &amp; Rajendran, G. (2012). Financial strength as an indicator for measuring bank competitiveness: An empirical evidence from Indian banking industry. Journal of Applied Economics Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, 7(2), 179–188. Prihadi, T. (2011). Analisis laporan keuangan: Teori dan aplikasi. Jakarta: PPM. Putri, D. R. (2020). Pengaruh risiko bisnis, investment opportunity set, kepemilikan manajerial terhadap nilai perusahaan properti dan real estate dengan variabel intervening struktur modal. Skripsi. Fakultas ekonomi dan bisnis, Universitas Airlangga. Surabaya. Refinitiv. (2021). Islamic finance development report 2021: Advancing Economics. Retrieved from https://www.refinitiv.com/en/resources/special-report/islamic-finance-development-report Riadi, M. (2020). Ukuran perusahaan (pengertian, jenis, kriteria dan indikator). Retrieved from https://www.kajianpustaka.com/2020/04/ukuran-perusahaan-pengertian-jenis-kriteria-dan-indikator.html Sakti, I. (2018). Analisis regresi data panel menggunakan Eviews. Retrieved from https://www.academia.edu/37059747/ANALISIS_REGRESI_DATA_PANEL_MENGGUNAKAN_EVIEWS. Sari, H.N., Adenan, M., &amp; Luthfi, A. (2019). Analisis industri perbankan tahun 2007-2016 dengan pendekatan SCP: Studi kasus Negara Indonesia dan Filipina. E-Journal Ekonomi Bisnis dan Akuntansi, 6(1), 33–42. doi:10.19184/ejeba.v6i1.11072 Sarpong-Kumankoma, E., Abor, J., Aboagye, A. Q. Q., &amp; Amidu, M. (2018). Freedom, competition and bank profitability in Sub-Saharan Africa. Journal of Financial Regulation and Compliance, 26(4), 462–481. doi:10.1108/JFRC-12-2017-0107 Spencer, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355-374. Supriadi, I. (2020). Metode riset akuntansi. Sleman: Deeppublish. Suriani, S. (2022). Analisis laporan keuangan: Kinerja manajemen dan prospek. Medan: Yayasan Kita Menulis. Suryanto. (2019). Manajemen risiko dan asuransi. Tangerang Selatan: Universitas Terbuka. Syukri, A. U. (2020). Causality between gross domestic product, exports, imports, foreign exchange reserves, and foreign debt in Indonesia. Journal of Developing Economies, 5(2), 103-119. doi:10.20473/jde.v5i2.18275 Taqiuddin, M. (2019). Does inter-bank investments restraints financing perfomance of Islamic banks? Advance Methodologies and Technologies in Business Operations and Management, 15. Pennsylvania: IGI Global The Asian Banker. (2021). World’s strongest Islamic banks in 2021. Retrieved from https://www.theasianbanker.com/ab500/rankings/strongest-islamic-banks. The World Bank. (n.d.). Metadata glossary GDP percapita. Retrieved from Https://Databank.Worldbank.Org/Metadataglossary/Statistical-Capacity-Indicators/Series/5.51.01.10.Gdp. Wahyudi, I., Rosmanita, F., Prasetyo, M. B., &amp; Putri, N. I. S. (2015). Market risk in Islamic banking. In Risk Management for Islamic Banks (pp. 232–263). Singapore: John Wiley &amp; Sons, Ltd. doi:10.1002/9781118809211.ch11 Wibowo, E. S., &amp; Syaichu, M. (2012). Analisis pengaruh suku bunga, inflasi, CAR, BOPO, NPF terhadap profitabilitas bank syariah. Diponegoro Jurnal of Management, 2(2), 10-19. Widyastuti, R. S., &amp; Armanto, B. (2013). Kompetisi industri perbankan Indonesia. BMEB: Bulletin of Monetery Economics and Banking. 15(4), 417-439. doi:10.21098/bemp.v15i4.74 Yoshanda, A. A., (2020). Pendapatan nasional. Sidoarjo: UMSIDA. Zurimi, S. (2018). Perbandingan metode generalized least square dan ordinary least square pada model multivariate adaptive regression spline dengan respon biner. Tesis. Program Pasca Sarjana Fakultas Matematika dan Ilmu Pengetahuan Alam Universitas Hasanuddin. Makassar

The U.S. startup ecosystem is a highly competitive one and for that reason project management (PM) strategies have to be dovetailed with digital marketing analytics to propel business growth. In this study, the influence of structured PM methodologies like Agile, Scrum, Waterfall and Hybrid on digital marketing analytics for startup success in marketing efficiency, customer engagement and business scalability will be examined. The design choice was a quantitative one with survey data from 200 professionals at US based startups (founders, project managers, digital marketing managers, data analysts among others). The findings show that startups utilizing structured PM frameworks achieve much greater digital marketing performance. The results of regression analysis revealed that digital analytics use (β = 0.55, p &lt; 0.001) was the strongest influencer of marketing effectiveness and the adoption of omnichannel (β = 0.45, p = 0.001) was the key predictor of sustained startup growth. Logistic regression analysis shows that startups implementing PM strategies have 2.15 times a higher chance to reach marketing success. The study reveals some key challenges of less entrenched adoption of PM frameworks such as a budget constraint, lack of skilled personnel and resistance to digital transformation that still prevent the full-scale adoption of PM frameworks in marketing strategy execution. The findings of the study are of critical importance to U.S. startups in the areas of data driven decision-making, real-time marketing analytics and PM methodologies to gain marketing ROI, customer retention and competitive advantage. The conclusion of this research is that utilizing project management principles in coordination with digital marketing analytics will lead to long term business sustainability in U.S. startup landscape. This research is to be further explored by future research into AI driven marketing automation and the application of such emerging technologies to increase project management efficiency. References Ahmad, S. (2024). Statistical Analysis of Leadership Styles and Their Impact on Hierarchical Effectiveness in Organizations. Global Journal of Sciences, 1(2), 28-37. Ahmad, S. (2024). The Impact of Decision making by Charismatic leadership in conflicted and tangled circumstances: Impact of Decision making by Charismatic leadership in conflicted and tangled circumstances. KASBIT Business Journal, 17(1). Ahmad, S., Wong, W. K., Riaz, S., &amp; Iqbal, A. (2024). The role of employee motivation and its impact on productivity in modern workplaces while applying human resource management policies. Arabian Journal of Business and Management Review (Kuwait Chapter), 13(2), 7-12. Ahmed, A., Rahman, S., Islam, M., Chowdhury, F., &amp; Badhan, I. A. (2023). Challenges and Opportunities in Implementing Machine Learning For Healthcare Supply Chain Optimization: A Data-Driven Examination. International journal of business and management sciences, 3(07), 6-31. Asif, M. (2022). Integration of Information Technology in Financial Services and its Adoption by the Financial Sector in Pakistan. Inverge Journal of Social Sciences, 1(2), 23-35. Asif, M., Pasha, M. A., &amp; Shahid, A. (2025). Energy scarcity and economic stagnation in Pakistan. Bahria University Journal Of Management &amp; Technology, 8(1), 141-157. Asif, M., &amp; Sandhu, M. S. (2023). Social Media Marketing Revolution in Pakistan: A Study of its Adoption and Impact on Business Performance. Journal of Business Insight and Innovation, 2(2), 67-77. Asif, M., &amp; Shaheen, A. (2022). Creating a High-Performance Workplace by the determination of Importance of Job Satisfaction, Employee Engagement, and Leadership. Journal of Business Insight and Innovation, 1(2), 9-15. Badhan, I. A., Hasnain, M. N., Rahman, M. H., Chowdhury, I., &amp; Sayem, M. A. (2024). Strategic Deployment of Advance Surveillance Ecosystems: An Analytical Study on Mitigating Unauthorized US Border Entry. Inverge Journal of Social Sciences, 3(4), 82-94. Badhan, I. A., Neeroj, M. H., &amp; Rahman, S. (2024). Currency rate fluctuations and their impact on supply chain risk management: An empirical analysis. International journal of business and management sciences, 4(10), 6-26. Butt, S., &amp; Yazdani, N. (2023). Implementation of Quality Management Practices and Firm’s Innovation Performance: Mediation of Knowledge Creation Processes and Moderating role of Digital Transformation. Pakistan Journal of Humanities and Social Sciences, 11(4), 3881-3902. Butt, S., Mubeen, I., &amp; Ahmed, A. (2022). Corporate Social Responsibility and Firm Financial Performance: Moderating role of Ethical Leadership and Social Capital. JISR Management, Social Sciences &amp; Economics, 20(1), 165-186. Chaffey, D, &amp; Ellis-Chadwick, F. (2019). Digital marketing. Pearson uk. Chakraborti, J, Dutta, A, &amp; Jana, B. (2022). An empirical investigation into why startups resist use of digital marketing. Journal of Content, Community &amp; Communication, 15(8), 69-83. Dimitrova, P, &amp; Sin, I. (2018). Digital Marketing in Start-Ups: The role of digital marketing in acquiring and maintaining business relationships. Drzewiecki, J, &amp; Olek, K. (2024). Impact of management toolbox on startups’ strategy and business models–research results. Procedia Computer Science, 246, 5565-5574. Farazi, M. Z. R. (2024). Designing circular supply chains with digital technologies for competitive sustainability: An operation management perspective. International Journal of Science and Research Archive, 13(1), 2346-2359. Farazi, M. Z. R. (2024). Exploring The Role Of Artificial Intelligence In Managing Emerging Risks: An In-Depth Study Of Ai Applications In Financial Institutions'risk Frameworks. The American Journal of Management and Economics Innovations, 6(10), 20-40. Guo, F, &amp; Hartini, H. (2023). Exploring the Coupling Relationship Between Dynamic Marketing Capability, Strategic Information Management and International Startup Performance. Journal of Information Systems Engineering and Management, 8(3), 22875. Hidayati, A, Susanti, E, Jamalong, A, Ginting, D, Suwanto, W, &amp; Arifin, A. (2024). MARKETING ANALYTICS IN THE ERA OF DIGITAL-BASED MARKETING STRATEGY. Jurnal Ilmiah Ilmu Terapan Universitas Jambi, 8(1), 61-75. Hodijah, C, Hendrayani, E, Tarigan, M, Suprianto, G, &amp; Suryathi, W. (2024). THE MARKETING EFFECTIVENESS IN START-UP BUSINESS: A SYSTEMATIC LITERATURE REVIEW FROM 1973-2023. Jurnal Riset Bisnis dan Manajemen, 17(2), 65-74. Hokmabadi, H, Rezvani, S. M, &amp; de Matos, C. A. (2024). Business Resilience for Small and Medium Enterprises and Startups by Digital Transformation and the Role of Marketing Capabilities—A Systematic Review. Systems, 12(6), 220. Hossain, A., Rasul, I., Akter, S., Eshra, S. A., &amp; Turja, T. S. (2024). Exploring AI’s Role in Business Analytics for Operational Efficiency: A Survey Across Manufacturing Sectors. Journal of Business Insight and Innovation, 3(2), 1-17. Ishfaq, U., Imran, A., Joseph, V., Haqdad, U., &amp; Asif, M. (2022). Mediating role of trust between emotional intelligence and project team performance in telecommunication sector. PalArch's Journal of Archaeology of Egypt/Egyptology, 19(4), 988-1005. Jun, W. S, Yi, H. T, &amp; Amenuvor, F. E. (2024). The effect of startup marketing agility on new product creativity and new product performance: the moderating effect of technological turbulence. Marketing Intelligence &amp; Planning, 42(8), 1494-1521. Jun, W. S, Yi, H. T, &amp; Amenuvor, F. E. (2024). The effect of startup marketing agility on new product creativity and new product performance: the moderating effect of technological turbulence. Marketing Intelligence &amp; Planning, 42(8), 1494-1521. Kakolwa, L. (2023). The Effect of Project Management Skills on the Performance of Startups in Tanzania (Doctoral dissertation, Institute of Accountancy Arusha (IAA)). Kandasamy, R, Ramesh, R, Kumar, R, Raghu, N, &amp; Chavadi, C. A. (2025). Agile Methodologies in Digital Marketing for Growing Businesses. In Expanding Operations Through Agile Principles and Sustainable Practices (pp. 445-468). IGI Global Scientific Publishing. Kislukhin, A. (2024). How to run marketing in startups efficiently? Krishnamoorthy, V, Chandra, S, Rajesha, S, Bhattacharjee, S, Murugan, G, &amp; Sampath, B. (2025). Emerging Startups in the Evolving Industry Landscape by Empowering Entrepreneur Growth: An Agile Marketing Practice. In Digital Transformation Initiatives for Agile Marketing (pp. 455-484). IGI Global. Krivokuća, M, Bakator, M, Ćoćkalo, D, Vidas-Bubanja, M, Makitan, V, Djordjević, L, &amp; Ugrinov, S. (2024). Data Mining Approaches in Predicting Entrepreneurial Intentions Based on Internet Marketing Applications. Applied Sciences, 14(24), 11778. Mumtaz, A., Munir, N., Mumtaz, R., Farooq, M., &amp; Asif, M. (2023). Impact Of Psychological &amp; Economic Factors On Investment Decision-Making In Pakistan Stock Exchange. Journal of Positive School Psychology, 130-135. Narkiniemi, J. (2013). Using Digital Marketing to Develop a Modern Marketing Strategy for a Startup.: Case study: Design with Benefits. Oklander, M, Oklander, T, Yashkina, O, Pedko, I, &amp; Chaikovska, М. (2018). Analysis of technological innovations in digital marketing. Восточно-Европейский журнал передовых технологий, (5 (3)), 80-91. Onasanya, A. E, Aroyewun, O, &amp; Okonkwo, R. (2022). A Research Paper on Digital Marketing Effectiveness Analysis: A Project Focused on Analyzing the Effectiveness of Various Digital Marketing Strategies for Small Businesses Through Data Analytics, Helping Them to Allocate Their Marketing Budget More Effectively. Permana, D. (2024). THE EFFECT OF DIGITAL MARKETING SKILLS AND MARKET RESEARCH ON MARKETING PERFORMANCE IN START-UP COMPANIES IN JAKARTA AND WEST JAVA, INDONESIA. INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE, 2(3), 954-970. Rahman, M. M. (2024). Operational Efficiency in Start-up Tech Companies. Rahman, S., Sayem, A., Alve, S. E., Islam, M. S., Islam, M. M., Ahmed, A., &amp; Kamruzzaman, M. (2024). The role of AI, big data and predictive analytics in mitigating unemployment insurance fraud. International Journal of Business Ecosystem &amp; Strategy (2687-2293), 6(4), 253-270. Rizvanović, B, Zutshi, A, Grilo, A, &amp; Nodehi, T. (2023). Linking the potentials of extended digital marketing impact and start-up growth: Developing a macro-dynamic framework of start-up growth drivers supported by digital marketing. Technological Forecasting and Social Change, 186, 122128. Rohm, A. J, Stefl, M, &amp; Saint Clair, J. (2019). Time for a marketing curriculum overhaul: Developing a digital-first approach. Journal of Marketing Education, 41(1), 47-59. Sharabati, A. A. A, Ali, A. A. A, Allahham, M. I, Hussein, A. A, Alheet, A. F, &amp; Mohammad, A. S. (2024). The Impact of Digital Marketing on the Performance of SMEs: An Analytical Study in Light of Modern Digital Transformations. Sustainability, 16(19), 8667. Stefia, C. M, Haryanto, B, Wahyudi, L, &amp; Setiawan, A. I. (2024). The impact of dynamic marketing capabilities (DMCs) and strategic information management (SIM) on international start-up success: A meta narrative analysis. Heliyon, 10(23). Teberga, P. M. F, Oliva, F. L, &amp; Kotabe, M. (2018). Risk analysis in introduction of new technologies by start-ups in the Brazilian market. Management Decision, 56(1), 64-86. Walizad, M. N. (2023). The Impact of Digital Marketing Strategies on the Growth of SMEs (based on OÜ Partnerway) (Doctoral dissertation, Private Higher Educational Establishment-Institute “Ukrainian-American Concordia University"). Ziakis, C, &amp; Vlachopoulou, M. (2020, September). StUpGrowthPath: A Growth Hacking Marketing Approach for Digital Startups. In Balkan Conference on Operational Research (pp. 207-215). Cham: Springer International Publishing.

The development of public administration (PA) is a worldwide topic of research, considering its importance in resolving governance issues in contemporary society. Consequently, the question of PA as a scientific discipline arises at both national and broader levels. In order to explore the state of affairs in PA trends in Slovenia and its regional context, an analysis was conducted involving 78 papers published in the leading Slovenian scientific journal – the International Public Administration Review – between 2011 and 2014. Content analysis as a method applied in the research is a widely recognized approach in social sciences and in the field of PA as well. Taking into account the respective analyses of the papers in terms of predominating discipline and mainstream topics, affiliation and collaboration of authors, language, methods of research and other criteria, we examined three main guidelines of editorial policy, namely the journal’s interdisciplinary, international and practical orientation. The results reveal that PA in Slovenia is rather multidisciplinary, with a prevailing role of management (HRM in particular), law and economics (the latter even mostly monodisciplinary). International and practical aspects, on the other hand, still offer some room for improvement. In sum, to support PA’s progress and its disciplinary evolution in line with global trends and the IPAR mission, a systematic interdisciplinary and all-European approach in future theory and practice is inevitable.

The study examines the cointegration and causal relationship between credit default swap spreads, stock prices, VIX, interest rate and slope of the yield curve for the 10 industries in the USA over the period 14 December 2007 to 30 September 2015. Due to the presence of cross-sectional dependence in the panel, we employ the Pesaran (2007, Journal of Applied Econometrics, 22(2), 265–312) CIPS test to ascertain unit root properties. The cointegration test underscores the presence of a long-run association between the variables. The long-run heterogeneous panel elasticities are estimated via Dynamic OLS (DOLS) and the causality is examined by using the Dumitrescu and Hurlin (2012, Economic Modelling, 29(4), 1450–1460) Granger causality tests. The empirical results reveal that stock prices (volatility), interest rate and slope of the yield curve decrease (increase) the CDS premia; and stock prices, VIX and interest rate Granger-cause the CDS spreads for most of the industries.

Market segmentation is a widely accepted concept in marketing research and planning. Although cluster analysis has been extensively applied to segment markets in the last 50 years, the ways in which the results were obtained have often been reported to be less than satisfactory by both practitioners (Yankelovich &amp; Meer 2006) and academics (Dolnièar 2003). In order to provide guidance to those undertaking market segmentation, this study discusses the critical issues involved when using cluster analysis to segment markets, makes suggestions for best practices and potential improvements, and presents an empirical survey that seeks to provide an up-to-date assessment of cluster analysis application in market segmentation within a six-stage framework. Analyses of more than 200 journal articles published since 2000, in which cluster analysis was empirically used in a marketing research setting, indicate that many critical issues are still ignored rather than addressed adequately.

ABSTRAKPenelitian ini bertujuan mengetahui hubungan kausalitas antara konsumsi energi konvensional, pertumbuhan ekonom, emisi karbon dioksida, dan konsumsi energi terbarukan di 39 negara Organisasi Kerjasama Islam (OKI) periode 1992-2018. Metode yang diterapkan ialah uji kausalitas Dumitrescu-Hurlin (2012) yang memperbolehkan adanya heterogenitas dan cross-sectional dependence. Temuan dari penelitian ini ialah terdapat interdependensi antara konsumsi energi konvensional dengan pertumbuhan ekonomi, sedangkan konsumsi energi terbarukan dipengaruhi oleh pertumbuhan ekonomi sebagaimana teori RKC U-shaped. Pertumbuhan ekonomi menyebabkan emisi karbon dioksida sebagaimana teori EKC-Kuznets. Tidak ditemukannnya hubungan kausalitas antara konsumsi energi konvensional dan terbarukan dengan emisi karbon dioksida. Penerapan kebijakan konservasi dapat diterapkan dengan memperhatikan pertumbuhan ekonomi. Penelitian terdahulu, menguji hubungan kausalitas tanpa memperhatikan cross-sectional dependence dan tidak memisahkan antara konsumsi energi konvensional dengan energi terbarukan. Kata Kunci: Energi terbarukan, Degradasi Lingkungan, Kausalitas. ABSTRACTThis research aims to find causality between conventional energy consumption, economic growth, carbon dioxide emissions, and renewable energy consumption in 39 countries of Organization of Islamic Cooperation (OIC) on 1992-2018. The method used Dumitrescu-Hurlin Causality Test (2012) that allows heterogeneity and cross-sectional dependence. The outcome affirms that there is interdependency between conventional energy consumption and economic growth, but renewable energy consumption affected economic growth that confirms RKC U-Shaped theory. The impact of economic growth affects environmental degradation, carbon dioxide emissions which accept EKC-Kuznets theory. The neutral hypothesis confirmed between conventional and renewable energy consumption and carbon dioxide emissions. Conservation policy could be implementing by considering economic growth. Previous study, testing causality relationship without considering cross-sectional dependence and differentiate between conventional and renewable energy consumption.Keywords: Renewable energy, Environmental Degradation, Causality. DAFTAR PUSTAKAAdams, S., &amp; Nsiah, C. (2019). Reducing carbon dioxide emissions; Does renewable energy matter? Science of the Total Environment, 693(25), 1-9. https://doi.org/10.1016/j.scitotenv.2019.07.094Alfarabi, M. A., Hidayat, M. S., &amp; Rahmadi, S. (2014). Perubahan struktur ekonomi dan dampaknya terhadap kemiskinan di provinsi Jambi. Jurnal Perspektif Pembiayaan dan Pembangunan Daerah, 1(3), 171-178. https://doi.org/10.22437/ppd.v1i3.1551Antonakakis, N., Chatziantoniou, I., &amp; Filis, G. (2017). Energy consumption, CO2 emissions and economic growth: An ethical dilemma. Renewable dan Sustainable Energy Reviews, 68(P1), 808-824.Banday, U. J., &amp; Aneja, R. (2018). Energy consumption, economic growth and CO2 emissions: evidence from G7 countries. World Journal of Science, Technology and Sustainable Development, 16(1), 22-39. https://doi.org/10.1108/WJSTSD-01-2018-0007Banday, U. J., &amp; Aneja, R. (2020). Renewable and non-renewable energy consumption, economic growth and carbon emission in BRICS: Evidence from bootstrap panel causality. International Journal of Energy Sector Management, 14(1), 248-260.Dumitrescu, E.-I., &amp; Hurlin, C. (2012). Testing for Granger non causality in heterogeneous panels. Economic Modelling, 29(4), 1450-1460.EIA. (2021). Carbon dioxide emisssions coefficients. Retrieved from EIA: https://www.eia.gov/environment/emissions/co2_vol_mass.phpField, B. C., &amp; Olewiler, N. D. (2015). Environmental economics. Toronto: MacGraw-Hill Ryerson.Grafström, J. (2018). Divergence of renewable energy intention efforts in Europe: An econometric analysis based on patent counts. Environmental Economics and Policy Studies, 20(4), 829-859.Grossman, G. M., &amp; Krueger, A. B. (1991). Environmental impacts of a North American free trade agreement. The quarterly journal of impacts, 110(2), 353-377.Huang, B.-N., Huang, M. J., &amp; Yang, C. W. (2008). Causal relationship between energy consumptionand GDP growth revisited: A dynamicpanel data approach. Ecological Economics, 67(1), 41-54.Irijanto, T. T., Zaidi, M. A., Ismail, A. G., &amp; Arshad, N. C. (2015). Al Ghazali's thoughts of economic growth theory, a contribution with system thinking. Scientific Jounal of PPI-UKM, 2(5), 233-240.Jaelani, A., Firdaus, S., &amp; Jumena, J. (2017). Renewable energy policy in Indonesia: The Quranic Scientific signals in Islamic economics perspective. International Journal of Energy Economics and Policy, 193-204.Kahouli, B. (2018). The causality link between energy electricity consumption, CO2 emissions, R&amp;D stocks and economic growth in Mediterranean countries (MCs). Energy, 145, 388-399.Khan, S. H., &amp; Akram, M. H. (2018). Renewable energy profile of OIC Countries. Pakistan: COMSTECH.Lopez, L., &amp; Weber, S. (2017). Testing for granger causality in panel data. The Stata Journal, 17(4), 972-984.Lu, W.-C. (2017). Greenhouse gas emissions, energy consumption and economic growth: A panel cointegration analysis for 16 Asian countries. International Journal of environmental research and public health, 14(11), 14-36.Muhammad, A. A., Arshed, N., &amp; Kousar, N. (2017). Renewable energy consumption and economic growth in member of OIC countries. European Online Journal of Natural and Social Science, 6(1), 111-129.Naf'an. (2014). Ekonomi makro tinjauan ekonomi syariah. Yogyakarta: Graha Ilmu.Pesaran, M. (2004). General diagnostic test for cross sectional independence in panel. Journal of Econometrics, 68(1), 79-110.Pesaran, M. H. (2007). A simple panel unit root test in the presence of cross section dependence. Journal of Applied Econometrics, 22(2), 265-312.Ranjan, A., Banday, U. J., Hasnat, T., &amp; Koçoglu, M. (2017). Renewable and non renewable energy consumption and economic growth: Empirical evidence from panel error correction model. Jindal Journal of Business Research, 6(1), 1-10.Ritchie, H. (2021, May 5). What are the safest and cleanest sources of energy? Retrieved from https://ourworldindata.org/safest-sources-of-energySaad, N. M., Kassim, S., &amp; Hamiid, Z. (2016). Best practices of waqf: Experiences of Malaysia and Saudi Arabia. Journal of Islamic Economics Lariba, 2(2), 57-74.SESRIC. (2019). OIC environment report 2019. Ankara: SESRIC.______. (2020). OIC economic outlook 2020. Ankara: SESRIC.Shafie, S., &amp; Salim, R. A. (2014). Non renewable and renwable energy consumption and CO2 emissions in OECD countries: A comparative analysis. Energy Policy, 66, 547-556.Sharif, A., Raza, S. A., Ozturk, I., &amp; Afshan, S. (2019). The dynamic relationship of renewable and nonrenewable energy consumption with carbon emission: A global study with the application of heterogeneous panel estimations. Renewable Energy, 133, 685-691.Tietenberg, T., &amp; lewis, L. (2018). Environmental &amp; natural resource economics. New Jersey: Pearson Education.Toumi, S., &amp; Toumi, H. (2019). Asymmetric causality among renewable energy consumption, CO2 emissions, and economic growth in KSA: Evidence from a non-linear ARDL model. Environmental Science and Pollution Research, 26(5), 16145-16156.Tugcu, C. T., &amp; Topcu, M. (2018). Total, renewable and non renewable energy consumption and economic growth: Revisiting the issue with an asymmetric point of view. Energy, 152(C), 64-74.Tuna, G., &amp; Tuna, V. E. (2019). The asymmetric causal relationship between renewable and non-renewable energy consumption and economic growth in the ASEAN-5 countries. Resources Policy, 62, 114-124.WaCIDS. (2021, August 23). Green waqf: Wakaf sebagai solusi perbaikan alam dan kemandirian energi. Retrieved from https://wacids.or.id/2021/08/23/green-waqf-sebagai-solusi-perbaikan-alam-dan-kemandirian-energi/WHO. (2018). COP24 special report health &amp; climate change. Geneva: WHO.World Bank. (2019). Economy. Retrieved from https://datatopics.worldbank.org/world-development-indicator/themes/economy.htmlWorld Bank. (2021). State and trends carbon pricing 2021. Washington DC: World Bank.Yamane, T. (1967). Statistics: An introductory analysis. New York: Harper anda Row.Yao, S., Zhang, S., &amp; Zhang, X. (2019). Renewable energy, carbon emission and economic growth: A revised environmental Kuznets Curve perspective. Journal of Cleaner Production, 1338-1352.Zaidi, S. A., Danish, Hou, F., &amp; Mirza, F. M. (2018). The role of renewable and non-renewable energy consumption in CO2 emissions: a disaggregate analysis of Pakistan. Environmental Science and Pollution Research, 25(31, 31616-31629.

This article examines critically the support systems necessary for economic integration of refugees by analysing the economic, social and policy context of refugee entrepreneurship in Germany and the UK. Current economic integration policies in both countries focus primarily on assisting refugees to find employment while appearing to neglect the value of refugee entrepreneurship as a viable option for integrating refugees into the destination country’s economy. Assuming economic integration of refugees is a fundamental socio-economic goal in both countries, our aim was to examine the challenges that could be addressed with regard to future policies for targeting refugee entrepreneurship and augmenting both entrepreneurship development and entrepreneurial policy formulation in host societies. We introduce a theoretical framework building on Wauters and Lambrecht (2008 , Journal of Ethnic and Migration Studies, 34(6), 895–915) and use inductive thematic analysis ( Guest et al., 2013 , Collecting qualitative data: A field manual for applied research) to examine which variables impact refugees. We identify how regulations, measures and policies in different environments affect those variables. We also examine the concept of mixed embeddedness ( Kloosterman et al., 1999 , International Journal of Urban and Regional Research, 23(2), 252–266), and its appropriateness for understanding the emergent entrepreneurial activity of refugees and the support systems that can aid opportunity-based integration. Our findings show that first, the most common challenges refugee entrepreneurs encounter are (a) seed capital, (b) language barriers, (c) location, (d) embeddedness and (e) knowledge about the local market. Second, there are no significant differences in the challenges that refugee entrepreneurs encounter, between the UK and Germany. Third, we also find that the support system for refugee entrepreneurs is larger in Germany than in the UK due to the capacity of government and civil society support. We conclude that combating downward occupational mobility, and fully using the potential and expertise of refugees, refugee entrepreneurship could be considered as a viable option for economic integration because refugee communities offer unique opportunities for potentially expanding the scope and style of entrepreneurship in host countries.

This study examined the operational characteristics of MSEs and their contributions towards addressing the national challenge of unemployment. The research was based on Ado-Odo/Ota Local Government Area in Ogun State, Nigeria. The study employed descriptive analysis and Ordinary Least Square (OLS) regression technique in estimating the data obtained. The administration of questionnaire was applied to collect the data. The study found out that micro and small-scale enterprises contributed to economic growth through their operational activities, via the job creation in the economy. Thus, the study recommended that government policies should be put in place to encourage micro and small enterprises, and the provision of infrastructures, credit facilities, tax holidays, training program, amongst others, for MSEs. It was also recommended for funding agencies to consider the trends of practicing MSEs towards addressing critical economic and social issues such as job creation, in granting them funding facilities, in order to facilitate continuous participation in job creation among Nigerian MSEs. AcknowledgmentThe authors appreciate the Management of Covenant University for funding the publishing of this manuscript in this journal.

ABSTRACT This study aimed to analyze the impact of social media marketing activities on the intention to buy halal skin care products because previous studies showed that there were still inconsistencies in the findings regarding what factors can influence consumer buying interest. This study used a quantitative approach with purposive sampling technique. the sample criteria of this study was social media users who follow halal cosmetic’s account with a total of 200 respondents. The data analysis technique used in this study was the PLS-SEM method. The variables in this study were social media marketing activities, brand equity, electronic Word Of Mouth, and purchase intention. The results of this study indicate that social media marketing activities have a positive effect on brand equity, brand equity has a positive effect on electronic word of mouth, and the relationship between electronic word of mouth is stated to be positive on purchase intention. However, social media marketing activities do not significantly affect purchase intentions. The contribution of this research is that entrepreneurs can be encouraged to pay attention to the potential of social media marketing activities in forming patterns of developing marketing strategies because they can affect brand equity, electronic word of mouth, which in turn can encourage purchase intentions for halal skin care products. Keywords: Social Media Marketing Activity, Brand Equity, electronic Word Of Mouth (e-WOM), Purchase Intention. ABSTRAK Penelitian ini bertujuan untuk menganalisis dampak aktivitas pemasaran media sosial pada niat beli produk perawatan kulit halal karena pada penelitian-penelitian sebelumnya masih terdapat ketidakkonsistenan pada hasil temuan mengenai faktor apa saja yang dapat mempengaruhi minat beli konsumen. Metode dalam penelitian ini menggunakan pendekatan kuantitatif. Dengan teknik sampel purposive, sampel penelitian ini adalah pengguna media sosial yang mengikuti media sosial produk perawatan kulit halal dengan jumlah 200 responden. Teknik analisis data yang digunakan penelitian ini memakai metode PLS-SEM. Variabel pada penelitian ini yakni aktivitas pemasaran media sosial, ekuitas merek, electronic Word Of Mouth, dan niat beli. Hasil penelitian ini menunjukkan bahwa aktivitas pemasaran media sosial berpengaruh positif terhadap ekuitas merek, ekuitas merek terhadap electronic word of mouth memiliki pengaruh positif. Hubungan antara electronic word of mouth dinyatakan positif terhadap niat beli. Akan tetapi, pengaruh aktivitas pemasaran media sosial tidak signifikan mempengaruhi niat beli. Kontribusi penelitian ini agar pelaku bisnis memperhatikan potensi aktivitas pemasaran media sosial dalam membentuk pola pengembangan strategi pemasaran karena dapat mempengaruhi ekuitas merek, electronic word of mouth, yang pada akhirnya dapat mendorong niat beli pada produk perawatan kulit halal. Kata Kunci: Aktivitas Pemasaran Media Sosial, Ekuitas Merek, electronic Word Of Mouth (e-WOM), Niat Beli REFERENSI Abdillah, W. (2018). Metode penelitian terpadu sistem informasi: permodelan teoritis, pengukuran dan pengujian statistis. Yogyakarta: Andi Adriani, L. (2020). Pengaruh Islamic Religiosity dan Halal Knowledge terhadap purchase intention kosmetik halal dimediasi oleh attitude terhadap produk halal di Indonesia. AL-MUZARA’AH, 8(1), 57–72. Ahmad, F., &amp; Guzman, F. (2021). Brand equity, online reviews, and message trust: The moderating role of persuasion knowledge. Journal of Product &amp; Brand Management, 30(4), 549–564. doi:10.118/JPBM-09-2019-2564 Aji, P., Nadhila, V., &amp; Sanny, L. (2020). Effect of social media marketing on Instagram towards purchase intention: Evidence from Indonesia’s ready-to-drink tea industry. International Journal of Data and Network Science, 4(2), 91–104. doi:10.5267/j.ijdns.2020.3.002 Alrwashdeh, M., Emeagwali, O., &amp; Aljuhmani, H. (2019). The effect of electronic word of mouth communication on purchase intention and brand image: An applicant smartphone brands in North Cyprus. Management Science Letters, 9(4), 505–518. doi:10.5267/j.msl.2019.1.011 Amalia, F. A., Sosianika, A., &amp; Suhartanto, D. (2020). Indonesian millennials’ halal food purchasing: merely a habit? British Food Journal, 122(4), 1185-1198. doi:10.1108/BFJ-10-2019-0748 Ariffin, S. K., Azra, W. F., Wahid, N. A., &amp; Nee, G. Y. (2019). Investigating the factors affecting purchase intention of muslim women towards halal cosmetics. Journal of Entrepreneurship, Business and Economics, 7(2s), 78–105. Boon, L. K., Fern, Y. S., &amp; Chee, L. H. (2020). Generation Y’s purchase intention towards natural skincare products: A PLS-SEM analysis. Global Business and Management Research: An International Journal, 12(1), 61–77. Choedon, T., &amp; Lee, Y.-C. (2020). The effect of social media marketing activities on purchase intention with brand equity and social brand engagement: Empirical evidence from Korean cosmetic firms. The Knowledge Management Research Society of Korea, 21(3), 141–160. Dayoh, M. L., Ari, L., &amp; Agrippina, Y. R. (2022). The effect of social media marketing activities to purchase intention. JUMMA: Jurnal Ilmiah Mahasiswa Manajemen, 11(1), 65–77. Fauzia, A. Z. N., &amp; Sosianika, A. (2021). Analisis pengaruh brand image, perceived quality, dan country of origin terhadap minat beli produk skincare luar negeri. Proceeding of Industrial Research Workshop and National Seminar, 12, 1068–1072. Hafez, M. (2021). The impact of social media marketing activities on brand equity in the banking sector in Bangladesh: The mediating role of brand love and brand trust. International Journal of Bank Marketing, 39(7), 1353–1376. doi:10.1108/IJBM-02-2021-0067 Handayani, T., &amp; Fathoni, M. A. (2021). Pengaruh endorsement terhadap minat membeli produk skin care halal pada mahasiswa Jabodetabek. El-Iqtishod: Jurnal Ekonomi Syariah, 5(2), 75–98. Ibrahim, B., Aljarah, A., &amp; Ababneh, B. (2020). Do social media marketing activities enhance consumer perception of brands? A meta-analytic examination. Journal of Promotion Management, 26(4), 544–568. doi:10.1080/10496491.2020.1719956 Ideswal, I., Yahya, Y., &amp; Alkadri, H. (2020). Kontribusi iklim sekolah dan kepemimpinan kepala sekolah terhadap kinerja guru Sekolah Dasar. Jurnal Basicedu, 4(2), 460–466. doi:10.31004/basicedu.v4i2.381 Imbayani, I. G. A., &amp; Gama, A. W. S. (2018). The Influence of Electronic Word of Mouth (E-Wom), brand image, product knowledge on purchase intention. Jagaditha: Jurnal Ekonomi dan Bisnis, 5(2). Kurniawati, L. M. (2019). Effect of product quality and brand equity on buying interest. Journal of Digital Marketing and Halal Industry, 1(1), 75–82. doi:10.21580/jdmhi.2019.1.1.4369 Ngah, A. H., Gabarre, S., Han, H., Rahi, S., Al-Gasawneh, J. A., &amp; Park, S. (2021). Intention to purchase halal cosmetics: do males and females differ? A multigroup analysis. Cosmetics, 8(1), 19. doi:10.3390/cosmetics8010019 Pasharibu, Y., &amp; Nurhidayah, A. (2021). Digitalization strategies through brand image, celebrity endorser, and EWOM of Indonesian halal product towards a purchase decision. International Journal of Economics, Business and Accounting Research (IJEBAR), 5(3), 2771–2782. doi:10.29040/ijebar.v5i3.3034 Prasetio, A., Rahman, D., Sary, F., Pasaribu, R., &amp; Sutjipto, M. (2022). The role of Instagram social media marketing activities and brand equity towards airlines customer response. International Journal of Data and Network Science, 6(4), 1195–1200. doi:10.5267/j.ijdns.2022.6.014 Schivinski, B., &amp; Dąbrowski, D. (2013). The impact of brand communication on brand equity dimensions and brand purchase intention through Facebook. Journal of Research in Interactive Marketing, 9(1), 31–53. doi:10.1108/JRIM-02-2014-0007 Seo, E.-J., &amp; Park, J.-W. (2018). A study on the effects of social media marketing activities on brand equity and customer response in the airline industry. Journal of Air Transport Management, 66, 36–41. doi:10.1016/j.jairtraman.2017.09.014 Sharma, S., Singh, S., Kujur, F., &amp; Das, G. (2020). Social media activities and its influence on customer-brand relationship: An empirical study of apparel retailers’ activity in India. Journal of Theoretical and Applied Electronic Commerce Research, 16(4), 602–617. doi:10.3390/jtaer16040036 Sudaryanto, S., Courvisanos, J., Dewi, I. R., Rusdiyanto, R., &amp; Yuaris, J. R. (2022). Determinants of purchase intention during COVID-19: A case study of skincare products in East Java. Innovative Marketing, 18(1), 181–194. doi:10.21511/im.18(1).2022.15 Victoria, M., &amp; Purwianti, L. (2022). Analisis faktor yang mempengaruhi purchase intention produk skincare dengan mediasi trust pada kalangan generasi Z di Kota Batam. Ekonomis: Journal of Economics and Business, 6(2), 465–475. doi:10.33087/ekonomis.v6i2.572 Wahyuningsih, I. (2018). Intensi konsumen terhadap kosmetik dan produk skincare halal di Indonesia: Pendekatan theory of planned behavior. JEBA (Journal of Economics and Business Aseanomics), 3(1). doi:10.33476/jeba.v3i1.741 Yadav, M., &amp; Rahman, Z. (2018). The influence of social media marketing activities on customer loyalty: A study of e-commerce industry. Benchmarking: An International Journal, 25(9), 3882–3905. doi:10.1108/BIJ-05-2017-0092 Zaki, K., Nopiah, R., Walid, A., &amp; Putra, E. P. (2021). The role of environment in responding to halal skincare products in Indonesia. Journal of Physics: Conference Series, 1796(1), 012030.

Numerous interpretations of the competitiveness of regional agri-food system in the scientific literature are predominantly fragmentary depending in specific goals of research. This creates problems for universalizing approaches, identifying areas of their complementarity, and integrating new definitions. To systematize existing interpretations of the competitiveness of regional agri-food systems and identify new areas of research, we carried out a structured review of the scientific publication from peer-reviewed academic journals indexed in international and Russian databases. We applied the method of content analysis to identify the definitions of the “competitiveness”, “sustainable competitiveness”, “regional agri-food systems”. Moreover, we calculated the average percentage of journal articles mentioning these categories per year. Cluster analysis of journal articles allowed identifying general concepts of the competitiveness of regional agri-food. As a result we systematized the definitions of the concept of «competitiveness of regional agri-food systems» depending on research area, actors and the level of sustainability of competitiveness. The systematization and classificatio n o f researc h investigatin g th e competitivenes s o f regiona l agri-food systems enabled determining new areas of future research. Firstly, a more detailed analysis of the factors of the sustainable competitiveness of regional agri-food systems, particularly in pandemic and post-pandemic periods is of critical importance. Secondly, searching for a comprehensive toolkit for ensuring sustainable competitiveness of regional agri-food systems, as well as cooperation and competition among the agri-food companies in the Internet can be a focus for future research.

ABSTRAK Penelitian ini bertujuan untuk menguji spillover effect indeks saham syariah Amerika Serikat dan Cina terhadap indeks saham syariah ASEAN dengan menggunakan metode Nonlinier Autoregressive Distributed Lag (NARDL) untuk menemukan spillover effect yang bersifat asimetris selama pandemi Covid-19. Data yang diamati dimulai pada 1 Januari 2020 sampai dengan 30 September 2021 dengan total observasi sebanyak 336 data untuk masing-masing indeks saham. Penelitian ini mendapatkan beberapa temuan. Pertama, indeks saham syariah Amerika Serikat dan Cina memiliki pengaruh asimetris jangka pendek terhadap indeks saham syariah Indonesia, Malaysia dan Thailand selama pandemi Covid-19. Kedua, indeks saham syariah Amerika Serikat dan Cina hanya memiliki pengaruh asimetris jangka panjang terhadap indeks saham syariah Malaysia selama pandemi Covid-19. Ketiga, efek ketika terjadi penurunan indeks saham syariah Amerika Serikat dan Cina lebih besar dibandingkan pada saat terjadi kenaikan terhadap indeks saham syariah Malaysia selama pandemi Covid-19. Salah satu penyebab hubungan tersebut adalah karena adanya hubungan dagang yang sangat erat antara Amerika Serikat dan Cina terhadap Malaysia. Adapun implikasi dari penelitian ini adalah investor internasional dapat menjadikan hasil penelitian ini sebagai bahan pengambilan keputusan apabila terjadi kontraksi akibat krisis seperti pada saat pandemi Covid-19 terhadap indeks saham syariah Amerika Serikat dan Cina untuk mempertahankan maupun menjual portofolio investasi mereka. Kata Kunci: Spillover, Indeks Syariah, Asimetris, Covid-19. ABSTRACT This study aims to examine the spillover effect of Islamic stock indexes of the United States and China on the ASEAN Islamic stock index using the Nonlinear Autoregressive Distributed Lag (NARDL) method to find asymmetric spillover effects during the Covid-19 pandemic. The observed data starts on January 1, 2020, until September 30, 2021, with a total of 336 observations for each stock index. This study found some findings. First, the Islamic stock indexes of the United States and China have a short-term asymmetric influence on the Islamic stock indices of Indonesia, Malaysia, and Thailand during the Covid-19 pandemic. Second, the Islamic stock indexes of the United States and China have only a long-term asymmetric influence on Malaysia's sharia stock indexes during the Covid-19 pandemic. Third, the effect when there is a decline in Islamic stock indexes of the United States and China is greater than when there is an increase in the Malaysian sharia stock index during the Covid-19 pandemic. One of the reasons for this relationship is the very close trade relationship between the United States and China with Malaysia. The research implication of this study is that international investors can use the results of this research as a decision-making material in the event of a contraction due to the crisis (one of which is the Covid-19 pandemic) in the United States and China Islamic stock indexes to maintain or sell their investment portfolios. Keywords: Spillover, Islamic Index, Asymmetric, Covid-19. DAFTAR PUSTAKA Abdullahi, S. I. (2021). Islamic equities and covid-19 pandemic: Measuring Islamic stock indices correlation and volatility in period of crisis. Islamic Economic Studies, 29(1), 50-66. https://doi.org/10.1108/IES-09-2020-0037 Aslam, F., Mohmand, Y. T., Ferreira, P., Memon, B. A., Khan, M., &amp; Khan, M. (2020). Network analysis of global stock markets at the beginning of the coronavirus disease (covid-19) outbreak. Borsa Istanbul Review, 20, 49–61. https://doi.org/10.1016/j.bir.2020.09.003 Azhar, J. A., Wulandari, R., &amp; Kalijaga, U. I. N. S. (2021). Stock performance based on sharia stock screening: Comparasion between syariah stock indices of Indonesia and Malaysia. 1(1), 14–26. https://doi.org/10.20885/AMBR.vol1.iss1.art2 Baek, S., Mohanty, S. K., &amp; Glambosky, M. (2020). Covid-19 and stock market volatility: An industry level analysis. Finance Research Letters, 37(January), 1-10. https://doi.org/https://doi.org/10.1016/j.frl.2020.101748 Dizioli, A., Guajardo, J., Klyuev, VladimirMano, R., &amp; Raissi, M. (2016). Spillovers from China’s growth slowdown and rebalancing to the ASEAN-5 economies. IMF Working Papers, 16(170), 1. https://doi.org/10.5089/9781475524260.001 Forbes, K. J., &amp; Rigobon, R. (2002). No contagion, only interdependence: Measuring stock market comovements. Journal of Finance, 57(5), 2223–2261. https://doi.org/10.1111/0022-1082.00494 Hasan, M. B., Mahi, M., Sarker, T., &amp; Amin, M. R. (2021). Spillovers of the covid-19 pandemic: Impact on global economic activity, the stock market, and the energy sector. Journal of Risk and Financial Management, 14(5), 200. https://doi.org/10.3390/jrfm14050200 He, Q., Liu, J., Wang, S., &amp; Yu, J. (2020). The impact of covid-19 on stock markets. Economic and Political Studies, 0(0), 275–288. https://doi.org/10.1080/20954816.2020.1757570 Hung, N. T. (2019). Return and volatility spillover across equity markets between China and Southeast Asian countries. Journal of Economics, Finance and Administrative Science, 24(47), 66–81. https://doi.org/10.1108/JEFAS-10-2018-0106 International Monetary Fund. (2021). Fault lines widen in the global recovery. World Economic Outlook Update, July 2021, 1–21. Retrieved from https://www.imf.org/en/Publications/WEO/Issues/2021/07/27/world-economic-outlook-update-july-2021 International Trade Administration. (2021). The investment climate statement chapter of the CCG is provided by the state department. Retrieved from https://www.trade.gov/country-commercial-guides/malaysia-market-overview Jebran, K., &amp; Iqbal, A. (2016). Examining volatility spillover between Asian countries’ stock markets. China Finance and Economic Review, 4(1), 0–13. https://doi.org/10.1186/s40589-016-0031-1 Kayo, E. S. (2021). Bursa saham terbesar di dunia (20 besar). Retrieved from https://www.sahamu.com/bursa-saham-terbesar-di-dunia/ Kirkulak Uludag, B., &amp; Khurshid, M. (2019). Volatility spillover from the Chinese stock market to E7 and G7 stock markets. Journal of Economic Studies, 46(1), 90–105. https://doi.org/10.1108/JES-01-2017-0014 Komorek, C. (2021). Record trade between Malaysia and China. Retrieved from http://www.fruitnet.com/asiafruit/article/184345/record-trade-between-malaysia-and-china Lee, H. Y. (2012). Contagion in international stock markets during the sub prime mortgage crisis. International Journal of Economics and Financial Issues, 2(1), 41–53. Lee, K.-J., Lu, S.-L., &amp; Shih, Y. (2018). Contagion effect of natural disaster and financial crisis events on international stock markets. Journal of Risk and Financial Management, 11(2), 16. https://doi.org/10.3390/jrfm11020016 Lento, C., &amp; Gradojevic, N. (2021). S&amp;P 500 index price spillovers around the covid-19 market meltdown. Journal of Risk and Financial Management, 14(7), 330. https://doi.org/10.3390/jrfm14070330 Liu, H., Manzoor, A., Wang, C., Zhang, L., &amp; Manzoor, Z. (2020). The covid-19 outbreak and affected countries stock markets response. International Journal of Environmental Research and Public Health, 17(8), 1–19. https://doi.org/10.3390/ijerph17082800 Marçal, E. F., Prince, D. de, Zimmermann, B., Merlin, G., &amp; Simões, O. (2020). Assessing global economic activity linkages: The role played by United States, Germany and China. EconomiA, 21(1), 38–56. https://doi.org/10.1016/j.econ.2020.01.001 Mata, M. N., Razali, M. N., Bentes, S. R., &amp; Vieira, I. (2021). Volatility spillover effect of Aan-Asia’s property portfolio markets. Mathematics, 9(12), 1–20. https://doi.org/10.3390/math9121418 McMillan, D. G. (2020). Interrelation and spillover effects between stocks and bonds: Cross-market and cross-asset evidence. Studies in Economics and Finance, 37(3), 561-582. https://doi.org/10.1108/SEF-08-2019-0330 Panjaitan, Y., &amp; Novel, R. (2021). Volatility spillover among Asian developed stock markets to Indonesia stock market during pandemic covid-19. Jurnal Keuangan dan Perbankan, 25(2), 342–354. https://doi.org/10.26905/jkdp.v25i2.5532 Pesaran, M. H., Shin, Y., &amp; Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16, 289–326. Purbasari, I. (2019). Volatility spillover effects from the US and Japan to the ASEAN-5 markets and among the ASEAN-5 markets. Sains: Jurnal Manajemen dan Bisnis, 11(2), 293-331. https://doi.org/10.35448/jmb.v11i2.6064 Rahmayani, D., &amp; Oktavilia, S. (2021). Does the covid-19 pandemic affect the stock market in Indonesia? Jurnal Ilmu Sosial dan Ilmu Politik, 24(1), 33–47. https://doi.org/10.22146/JSP.56432 Ramdhan, N., Yousop, N. L. M., Ahmad, Z., Abdullah, N. M. H., &amp; Zabizi, A. Z. (2016). Stock market integration: The effect of leader and emerging market. Journal of Advanced Research in Business and Management Studies, 2(1), 1–10. Saleem, A., Bárczi, J., &amp; Sági, J. (2021). Covid-19 and Islamic stock index: Evidence of market behavior and volatility persistence. Journal of Risk and Financial Management, 14(8), 389. https://doi.org/10.3390/jrfm14080389 Sari, L. K., Achsani, N. A., &amp; Sartono, B. (2017). Volatility transmission of the main global stock return towards Indonesia. Bulletin of Monetary Economics and Banking, 20(2), 229–254. https://doi.org/10.21098/bemp.v20i2.813 Sekaran, U., &amp; Bougie, R. (2018). Metode penelitian untuk bisnis. Jakarta: Salemba Empat. Setiawan, A., &amp; Kartiasih, F. (2021). Contagion effect of Argentina and Turkey crisis to Asian countries, is it really happening? Jurnal Ekonomi dan Pembangunan Indonesia, 21(1), 59–76. https://doi.org/10.21002/jepi.v21i1.1333 Shin, Y., Yu, B., &amp; Greenwood-Nimmo, M. (2012). Modelling asymmetric cointegration and dynamic multipliers in a nonlinear ARDL framework. SSRN Electronic Journal, 1–61. https://doi.org/10.2139/ssrn.1807745 Suppakittiwong, T., &amp; Aimprasittichai, S. (2015). A study of a relationship between the U.S. stock market and emerging stock markets in Southeast Asia. Unpublished undergraduate thesis. Sweden: Linnaeus University. Sznajderska, A., &amp; Kapuściński, M. (2019). The spillover effects of chinese economy on Southeast Asia and Oceania. NBP Working Paper Issue 315. Retrieved from https://www.nbp.pl/publikacje/materialy_i_studia/315_en.pdf Thai Hung, N. (2019). Equity market integration of China and Southeast Asian Countries: Further Evidence from MGARCH-ADCC and wavelet coherence analysis. Quantitative Finance and Economics, 3(2), 201–220. https://doi.org/10.3934/qfe.2019.2.201 Thomson Reuters Practical Law. (2021). International trade in goods and services in Malaysia: Overview. Retrieved from https://uk.practicallaw.thomsonreuters.com/w-017-9602?transitionType=Default&amp;contextData=(sc.Default)&amp;firstPage=true Trade between Malaysia and China reached new high in 2020 despite Covid. (2021). Retrieved from https://www.freshplaza.com/article/9293748/trade-between-malaysia-and-china-reached-new-high-in-2020-despite-covid/ United States Census Bureau. (2021). Trade in goods with Malaysia. Retrieved from https://www.census.gov/foreign-trade/balance/c5570.html Vo, X. V., &amp; Tran, T. T. A. (2019). Modelling volatility spillovers from the US equity market to ASEAN stock markets. Pacific Basin Finance Journal, 59(February 2020), https://doi.org/10.1016/j.pacfin.2019.101246 Wang, Q., &amp; Han, X. (2021). Spillover effects of the United States economic slowdown induced by COVID-19 pandemic on energy, economy, and environment in other countries. Environmental Research, 196(February). https://doi.org/10.1016/j.envres.2021.110936 Wycislak, S. (2014). Contagion effect and organization. European Scientific Journal, 10(1), 17–26. https://doi.org/10.19044/esj.2014.v10n1p%25p Yan, B., Stuart, L., Tu, A., &amp; Zhang, Q. (2020). Analysis of the effect of covid-19 on the stock market and investing strategies. SSRN Electronic Journal. https://doi.org/10.2139/SSRN.3563380 Yan, C. (2020). COVID-19 Outbreak and stock prices: Evidence from China. SSRN Electronic Journal. https://doi.org/10.2139/SSRN.3574374 Yujing, O. (2021). China-Malaysia diplomatic relations – sailing towards a brighter future. Retrieved from https://www.thestar.com.my/opinion/letters/2021/05/31/china-malaysia-diplomatic-relations---sailing-towards-a-brighter-future

International Business Research wishes to acknowledge the following individuals for their assistance with peer review of manuscripts for this issue. Their help and contributions in maintaining the quality of the journal are greatly appreciated. International Business Research is recruiting reviewers for the journal. If you are interested in becoming a reviewer, we welcome you to join us. Please contact us for the application form at: ibr@ccsenet.org Reviewers for Volume 14, Number 12 &amp;nbsp; Ahnaf Ali Alsmady, University of Tabuk, Saudi Arabia Anca Gabriela Turtureanu, &amp;ldquo;DANUBIUS&amp;rdquo; University Galati, Romania Anna Maria Calce, University of Cassino and Southern Lazio, Italy Benjamin James Inyang, University of Calabar, Nigeria Bruno Ferreira Frascaroli, Federal University of Paraiba, Brazil Chokri Kooli, International Center for Basic Research applied, Paris, Canada Chuan Huat Ong, SEGi University Kota Damansara, Malaysia Chunyu Zhang, Guangxi Normal University, China Cristian Marian Barbu, &amp;ldquo;ARTIFEX&amp;rdquo; University, Romania Francesco Scalera, University of Bari &amp;quot;Aldo Moro&amp;quot;, Italy Giuseppe Granata, University Mercatorum of Rome, Italy Gnahe franck E, JIANGXI UNIVERSITY OF FINANCE AND ECONOMICS, COTE D&amp;rsquo;IVOIRE Hanna Trojanowska, Warsaw University of Technology, Poland Henrique F&amp;aacute;tima Boyol Ngan, Institute for Tourism Studies, Macao, Macao Hind Ahmed, Ahfad university for Women, Sudan Ivano De Turi, LUM Jean Monnet University, Italy Janusz Wielki, Opole University of Technology, Poland L. Leo Franklin, Bharathidasn University, India Ladislav Mura, University of Ss. Cyril and Methodius in Trnava, Slovakia Lee Yok Yong, Universiti Putra Malaysia, Malaysia Leow Hon Wei, SEGi University, Malaysia MALIK ELHAJ, University of Pittsburgh at Bradford, USA Marcelino Jos&amp;eacute; Jorge, Evandro Chagas Clinical Research Institute of Oswaldo Cruz Foundation, Brazil Marco Valeri, Niccol&amp;ograve; Cusano University, Italy Maria-Madela Abrudan, University of ORADEA, Romania Mohammad S. Knio, City University College of Ajman, UK Mustafa &amp;Ouml;zer, Anadolu University, FEAS, Turkey Omer Allagabo Omer Mustafa, Sudan Academy for Banking and Financial Sciences, Sudan Pascal Stiefenhofer, University of Exeter, UK Rosemary Boateng Coffie, Kwame Nkrumah University of Science and |Technology, Ghana Roxanne Helm Stevens, Azusa Pacific University, USA Sachita Yadav, Arun Jaitley National Institute of Financial Management, India Sara Saggese, University of Naples Federico II, Italy Shrijan Gyanwali, Pokhara University, Nepal Stoyan Neychev, University of National and World Economy, Bulgaria Sumathisri Bhoopalan, SASTRA Deemed to be University, India Wanmo Koo, Western Illinois University, USA Yan Lu, University of Central Florida, USA

ABSTRAKTujuan dari Penelitian ini adalah menguji pengaruh kepercayaan dan citra website yang diintegrasikan dengan persepsi kemudahan penggunaan dan persepsi kebermanfaatan pada niatan seorang mahasiswa dalam membayar wakaf secara online, yang menjadikan penelitian ini berbeda dengan penelitian sebelumnya adalah penggunaan citra website sebagai determinan niatan mahasiswa dalam menggunakan layanan wakaf online ini. Penelitian ini menggunakan pendekatan kuantitatif dengan metode SEM-PLS serta melibatkan responden sebesar 100 responden dengan menggunakan Purposive Sampling dengan kriteria seorang muslim usia 18-35 dan seorang mahasiswa. Software analisis untuk mengolah data dalam penelitian ini menggunakan Smartpls 3.3, untuk data diperoleh dengan menggunakan kuesioner online menggunakan skala likert 1 sampai 5, dengan keterangan sangat setuju hingga tidak setuju. Hasil dari penelitian ini menunjukkan bahwa kepercayaan, citra website, kebermanfaatan aplikasi, dan kemudahan penggunaan berhubungan signifikan terhadap niat penggunaan wakaf online. Implikasi hasil penelitian ini diharapkan dapat memberikan tambahan pengetahuan terutama dalam ilmu pemasaran Islam terkait penggunaan behavioral intention dalam penggunaan layanan wakaf online, serta diharapkan penelitian ini dapat memberikan masukan bagi manajemen lembaga donasi terutama nazir untuk lebih memperhatikan kemudahan penggunaan konsumen, manfaat yang dirasakan, kepercayaan lembaga, citra perusahaan serta niat dalam menggunakan layanan wakaf secara online.Kata kunci: Wakaf online, technology acceptance model, trust, image. ABSTRACTThe purpose of this study was to examine the effect of trust and website image, which is integrated with perceived ease of use and perceived usefulness, on a student's intention to pay waqf online. What makes this research different from previous research is using website images to determine student intention in using this online waqf service. This study uses a quantitative approach with the SEM-PLS method and involves 100 respondents using purposive sampling with the criteria of a Muslim aged 18-35 and a student. The analysis software to process data in this study used Smartpls 3.3 for data obtained using an online questionnaire using a Likert scale of 1 to 5, with statements strongly agreeing to disagree. This study indicates that trust, website image, application usefulness, and ease of use are significantly related to the intention to use online waqf. The implications of the results of this study are expected to provide additional knowledge, especially in Islamic marketing related to the use of behavioral intention in the use of online waqf services. It is hoped that this research can provide input for the management of donation institutions, especially Nazir, to pay more attention to consumers' ease of use, perceived benefits, and institutional trust., corporate image and intention to use online waqf services.Keywords: online waqf, technology acceptance model, trust, image. DAFTAR PUSTAKAAbdul Shukor, S., Johari, F., Abd Wahab, K., Kefeli Zulkefli, Z., Ahmad, N., Haji Alias, M., Abdul Rahman, A., Mohd Orip, N. M., Ibrahim, P., &amp; Abu-Hussin, M. F. (2019). Trust on awqaf institutions: evidence from Malaysia. Journal of Islamic Marketing, 10(2), 511–524. https://doi.org/10.1108/JIMA-05-2017-0054Ahn, J. chang, Sura, S., &amp; An, J. C. (2018). Intention to donate via social network sites (SNSs): A comparison study between Malaysian and South Korean users. Information Technology and People, 31(4), 910–926. https://doi.org/10.1108/ITP-12-2015-0307Aldeen, K. N., Ratih, I. S., &amp; Herianingrum, S. (2020). Contemporary issues on cash waqf: A thematic literature review. International Journal of Islamic Economics and Finance (IJIEF), 3(3), 119–144. https://doi.org/10.18196/ijief.3236Alrubaiee, L. S., Aladwan, S., Abu Joma, M. H., Idris, W. M., &amp; Khater, S. (2017). Relationship between corporate social responsibility and marketing performance: The mediating effect of customer value and corporate image. International Business Research, 10(2), 104. https://doi.org/10.5539/ibr.v10n2p104Bailey, A. A., Pentina, I., Mishra, A. S., &amp; Ben Mimoun, M. S. (2017). Mobile payments adoption by US consumers: An extended TAM. International Journal of Retail and Distribution Management, 45(6), 626–640. https://doi.org/10.1108/IJRDM-08-2016-0144Berakon, I., Aji, H. M., &amp; Hafizi, M. R. (2021). Impact of digital sharia banking systems on cash-waqf among Indonesian Muslim youth. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-11-2020-0337Blagoeva, K. T., &amp; Mijoska, M. (2017). Applying TAM to study online shopping adoption among youth in the republic of Macedonia. Genetika, 46(3), 27–32.Eneizan, B., Alsaad, A., Alkhawaldeh, A., Rawash, H. N., &amp; Enaizan, O. (2020). E-WOM, trust, usefulness, ease of use, and online shopping via websites: The moderating role of online shopping experience. Journal of Theoretical and Applied Information Technology, 98(13), 2554–2565.Faisal, M., Yusof, M., Alam, S., Faiz, M., Yusof, M., Alam, S., Hasarudin, M. H., Alam, S., Romli, N., Lumpur, K., Terms, G., &amp; Statement, P. (2014). Cash waqf and infaq: A proposed e-philanthropy in Malaysia. Jurnal Kemanusiaan, 12(1), 1–10.Hair Jr., J. F., Gabriel, M. L. D. da S., &amp; Patel, V. K. (2014). Modelagem de equações estruturais baseada em covariância (CB-SEM) com o AMOS: Orientações sobre a sua aplicação como uma Ferramenta de Pesquisa de Marketing. Revista Brasileira de Marketing, 13(2), 44–55. https://doi.org/10.5585/remark.v13i2.2718Indahsari, K., Burhan, M. U., Ashar, K., &amp; Multifiah. (2014). Determinants of individual Muslim behaviour in accomplishing zakah, infaq, shadaqah and waqf through amil institution. International Journal of Economic Policy in Emerging Economies, 7(4), 346–365. https://doi.org/10.1504/IJEPEE.2014.066627Iskandar, M., Hartoyo, H., &amp; Hermadi, I. (2020). Analysis of factors affecting behavioral intention and use of behavioral of mobile banking using unified theory of acceptance and use of technology 2 model approach. International Review of Management and Marketing, 10(2), 41–49. https://doi.org/10.32479/irmm.9292Joseph, S. (2014). Waqf in historical perspective: Online fatāwā and contemporary discourses by muslim scholars. Journal of Muslim Minority Affairs, 34(4), 425–437. https://doi.org/10.1080/13602004.2014.965974Kasri, R. A., &amp; Chaerunnisa, S. R. (2021). The role of knowledge, trust, and religiosity in explaining the online cash waqf amongst Muslim millennials. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-04-2020-0101Klopping, I. M., &amp; Mckinney, E. (2004). Extending the technology acceptance model and the task-technology fit model to consumer e-commerce. Information Technology, Learning, and Performance Journal, 22(1), 35–48.Lubis, H. (2020). Potensi dan strategi pengembangan wakaf uang di indonesia. IBF: Islamic Business and Finance, 1(1), 43–59.Masrikhan, M. (2019). Optimalisasi potensi wakaf di era digital melalui platform online wakafin.com dengan konsep crowdfunding sebagai penggerak ekonomi masyarakat. Jurnal Ekonomi Syariah, 1, 1–12.Mohd Thas Thaker, M. A. Bin. (2018). Factors influencing the adoption of the crowdfunding-waqf model (CWM) in the waqf land development. Journal of Islamic Marketing, 9(3), 578–597. https://doi.org/10.1108/JIMA-05-2016-0043Mohd Thas Thaker, M. A., Mohd Thas Thaker, H., A.Pitchay, A., &amp; Khaliq, A. (2019). A proposed integrated zakat-crowdfunding model (IZCM) for effective collection and distribution of zakat fund in Malaysia. International Journal of Zakat and Islamic Philanthropy, 1(2), 1–12.Niswah, F. M., Mutmainah, L., &amp; Legowati, D. A. (2019). Muslim millennial’s intention of donating for charity using fintech platform. Journal of Islamic Monetary Economics and Finance, 5(3), 623–644. https://doi.org/10.21098/jimf.v5i3.1080Nour Aldeen, K., Ratih, I. S., &amp; Sari Pertiwi, R. (2021). Cash waqf from the millennials’ perspective: a case of Indonesia. ISRA International Journal of Islamic Finance, ahead-of-p(ahead-of-print). https://doi.org/10.1108/ijif-10-2020-0223Phatthana, W., &amp; Mat, N. K. N. (2011). The application of technology acceptance model (TAM) on health tourism e-purchase intention predictors in Thailand. 2010 International Conference on Business and Economics Research, 1, 196–199. http://www.ipedr.com/vol1/43-B10046.pdfRaza, S. A., Shah, N., &amp; Ali, M. (2019). Acceptance of mobile banking in Islamic banks: Evidence from modified UTAUT model. Journal of Islamic Marketing, 10(1), 357–376. https://doi.org/10.1108/JIMA-04-2017-0038Rybaczewska, M., Sparks, L., &amp; Sułkowski, Ł. (2020). Consumers’ purchase decisions and employer image. Journal of Retailing and Consumer Services, 55(October 2019), 0–7. https://doi.org/10.1016/j.jretconser.2020.102123Sabri, F. A. (2014). Wakaf uang (Sebuah alternatif dalam upaya menyejahterakan masyarakat). AL-IHKAM: Jurnal Hukum &amp; Pranata Sosial, 8(1), 40–54. https://doi.org/10.19105/al-lhkam.v8i1.339Shaikh, I. M., Qureshi, M. A., Noordin, K., Shaikh, J. M., Khan, A., &amp; Shahbaz, M. S. (2020). Acceptance of Islamic financial technology (FinTech) banking services by Malaysian users: An extension of technology acceptance model. Foresight, 22(3), 367–383. https://doi.org/10.1108/FS-12-2019-0105Singh, S., Sahni, M. M., &amp; Kovid, R. K. (2020). What drives fintech adoption? A multi-method evaluation using an adapted technology acceptance model. Management Decision, 58(8), 1675–1697. https://doi.org/10.1108/MD-09-2019-1318Sohn, S. (2017). A contextual perspective on consumers’ perceived usefulness: The case of mobile online shopping. Journal of Retailing and Consumer Services, 38(May), 22–33. https://doi.org/10.1016/j.jretconser.2017.05.002Usman, H., Mulia, D., Chairy, C., &amp; Widowati, N. (2020). Integrating trust, religiosity and image into technology acceptance model: the case of the Islamic philanthropy in Indonesia. Journal of Islamic Marketing. https://doi.org/10.1108/JIMA-01-2020-0020Victoria, O. A., Pujirahayu, E. W., Khisni, A., &amp; Ong, R. (2019). Law development of waqf al-nuqud (Cash waqf) towards electronic waqf (E-waqf) based on public welfare. LDJ: Law Development Journal, 1(1), 13–17.Wadi, D. A., &amp; Nurzaman, M. S. (2020). Millennials behaviour towards digital waqf innovation. International Journal of Islamic Economics and Finance (IJIEF), 3(3), 1–30. https://doi.org/10.18196/ijief.3232Wong, K. K. K.-K. (2013). Partial least squares structural equation modeling (PLS-SEM) techniques using SmartPLS. Marketing Bulletin, 24(1), 1–32. Retrieved from http://marketing-bulletin.massey.ac.nz/v24/mb_v24_t1_wong.pdf%5Cnhttp://www.researchgate.net/profile/Ken_Wong10/publication/268449353_Partial_Least_Squares_Structural_Equation_Modeling_(PLS-SEM)_Techniques_Using_SmartPLS/links/54773b1b0cf293e2da25e3f3.pdfZhang, E. M. (2010). Understanding the acceptance of mobile SMS advertising among young chinese consumers. Psychology &amp; Marketing, 30(6), 461–469. https://doi.org/10.1002/mar

<strong>Abstract:</strong> Universities are expected to contribute the economic growth of the country by preparing the graduates with necessary academic skills. Students are focusing more on knowledge or the course contents but put less effort on the skill that are inventible for them to master in their chosen field.&nbsp; This study is focusing on the perception of accounting graduates of UTAS about employability skill that they should possess. The study found that the students feel Learning and Development skills are not necessary for employability irrespective of gender or the year of study. Learning and Development skills include working in teams, able to adapt technology, communication skills, lifelong learning and problem solving skills. When subject knowledge is compared with the year of study, the authors found that the students did not give importance to subject knowledge as well. However, Life/Career skills are considered to be valuable skills by the students whether it is compared with gender or year of study. The authors recommend that the students must be educated on the importance of Learning and development skills and subject knowledge, which will help them in securing a good job in the future. It will also help to solve the unemployment problems in the society. <strong>Keywords:</strong> Employability skills, subject knowledge, students, University, Accounting, Unemployment problems. <strong>Title:</strong> A study on Accounting students&rsquo; perception on employability skills in University of Technology and Applied Sciences, Muscat <strong>Author:</strong> Dr. Anitha Ravikumar, Mr. Gopalan Puthukulam, Dr. Anupam Sharma <strong>International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)</strong> <strong>ISSN 2349-7807</strong> <strong>Vol. 9, Issue 3, July 2022 - September 2022</strong> <strong>Page No: 145-149</strong> <strong>Paper Publications&nbsp; </strong> <strong>Website: www.paperpublications.org</strong> <strong>Published Date: 23-September-2022</strong> <strong>DOI: https://doi.org/10.5281/zenodo.7108137</strong> <strong>Paper Download Link (Source)</strong> <strong>https://www.paperpublications.org/upload/book/A%20study%20on%20Accounting%20students-23092022-6.pdf</strong>

International Business Research wishes to acknowledge the following individuals for their assistance with peer review of manuscripts for this issue. Their help and contributions in maintaining the quality of the journal are greatly appreciated.International Business Research is recruiting reviewers for the journal. If you are interested in becoming a reviewer, we welcome you to join us. Please find the application form and details at http://recruitment.ccsenet.org and e-mail the completed application form to ibr@ccsenet.org.Reviewers for Volume 10, Number 6 Ahmad Mahmoud Ahmad Zamil, King Saud University RCC, JordanAlina Badulescu, University of Oradea, RomaniaNasim Saadati, Panjab University, IndiaAmran Awang, Head of Entrepreneurship Center, MalaysiaAlireza Athari, Eastern Mediterranean University, IranSerhii Kozlovskiy, Donetsk National University, UkraineMaria Teresa Bianchi, University of Rome “LA SAPIENZA”, ItalyMongi Arfaoui, University of Monastir, TunisiaAurelija Burinskiene, Vilnius Gediminas Technical University, LithuaniaHung-Che Wu, Nanfang College of Sun Yat-sen University, ChinaGiuseppe Granata, University of Cassino and Southen Lazio, ItalyVincent Grèzes, University of Applied Sciences Western Switzerland (HES-SO Valais-Wallis), SwitzerlandGianluca Ginesti, University of Naples “FEDERICO II”, ItalyAbedalqader Rababah, Arab Open University, OmanMuath Eleswed, American University of Kuwait, USAFrancesco Ciampi, Florence University, ItalyGeorgeta Dragomir, “Danubius” University of Galati, RomaniaFabio De Felice, University of Cassino and Southern Lazio, ItalyLadislav Mura, University of Ss. Cyril and Methodius in Trnava, SlovakiaMalgorzata Koszewska, Lodz University of Technology, PolandManlio Del Giudice, University of Rome "Link Campus", ItalyManuela Rozalia Gabor, “Petru Maior” University of Tîrgu Mureş, RomaniaMaria do Céu Gaspar Alves, University of Beira Interior, PortugalMihaela Simionescu, Institute for Economic Forecasting of the Romanian Academy, RomaniaModar Abdullatif, Middle East University, JordanJorge Mongay-Hurtado, ESIC Business and Marketing School, SpainRadoslav Jankal, University of Zilina, SlovakiaRafiuddin Ahmed, James Cook University, AustraliaTerrill Frantz, Peking University HSBC Business School, USAVassili JOANNIDES de LAUTOUR, Grenoble École de Management (France) and Queensland University of Technology School of Accountancy (Australia), FranceMohsen Malekalketab Khiabani, University Technology Malaysia, MalaysiaMaria J. Sanchez-Bueno, Universidad Carlos III se Madrid, SpainCheng Jing, eBay, Inc. / University of Rochester, USAArash Riasi, University of Delaware, USASumathisri Bhoopalan, Sastra University, IndiaFevzi Esen, Istanbul Medeniyet University, TurkeyAshford C Chea, Benedict College, USA

ABSTRAK Tujuan dari penelitian ini untuk mengetahui pengaruh dari adanya ukuran bank, umur bank, aktivitas sosial, dan probabilitas terhadap pengungkapan informasi inklusi keuangan di sektor perbankan pada bank pembiayaan rakyat syariah di Indonesia baik secara parsial maupun simultan. Model yang digunakan dalam penelitian ini adalah analisis regresi data panel dengan metode kuantitaif, Aplikasi statistik yang digunakan program Eviews 12. Hasil Penelitian ini menggambarkan dalam parsial bahwa umur BPRS dan CRS memiliki pengaruh positif signifikan terhadap pengungkapan informasi inklusi keuangan, sedangkan dalan ukuran BPRS memiliki pengaruh negative signifikan, kemudian ROA berpengaruh negatif tidak signifikan terhadap pengungkapan informasi inklusi keuangan pada bank pembiayaan rakyat syariah di Indonesia. Namun, secara simultan ukuran BPRS, CRS, umur BPRS dan ROA memiliki pengaruh positif signifikan terhadap pengungkapan informasi inklusi keuangan pada bank pembiayaan rakyat syariah di Indonesia dalam periode 2016-2020. Adapun keterbatasan objek dalam penelitain hanya 32 dari 163 BPRS yang terdaftar di OJK. Penelitian ini diharapkan dapat menjadi evaluasi ataupun masukkan bagi regulator dan BPRS, jika pengungkapan informasi inklusi keuangan sebaiknya diterapkan secara transparan oleh seluruh BPRS, maka dapat meningkatkan reputasi dan kepercayaan dalan menggunakan layanan BPRS. Kata Kunci: ukuran bank, aktivitas sosial, umur bank, profitabilitas, pengungkapan informasi inklusi keuangan. ABSTRACT The purpose of this study was to determine the effect of the existence of bank size, bank age, social activity, and probability on the disclosure of financial inclusion information in the banking sector at Islamic Rural banks in Indonesia either partially or simultaneously. The model used in this study was panel data regression analysis with quantitative methods, statistical applications used by the author was the Eviews 12 program. The results of this study illustrate in partial terms that the age of IRB and CRS has a significant positive effect on disclosure of financial inclusion information, while the size of the IRB has a significant positive effect on the disclosure of financial inclusion information. significant negative, then ROA has no significant negative effect on the disclosure of financial inclusion information in Islamic Rural Banks in Indonesia. However, simultaneously the size of the IRB, CRS, the age of the IRB and ROA have a significant positive effect on the disclosure of financial inclusion information in Islamic Rural bank in Indonesia in the 2016-2020 period. As for the limitations of the object in the research, only 32 out of 163 IRB are registered with the Financial Service Authority. This research is expected to be an evaluation or input for regulators and IRB, if disclosure of financial inclusion information should be implemented transparently by all IRB, it can increase reputation and trust in using IRB services. Keywords: bank size, social activity, bank age, profitability, disclosure of financial inclusion information. REFERENCES Afrin, S., Haider, M.Z. &amp; Islam, M.S. (2017). Impact of financial inclusion on technical efficiency of paddy farmers in Bangladesh. Agricultural Finance Review, 77(4), 484-505. https://doi.org/10.1108/AFR-06-2016-0058 Ali, M.M., Devi, A., Furqani, H. &amp; Hamzah, H. (2020). Islamic financial inclusion determinants in Indonesia: an ANP approach. International Journal of Islamic and Middle Eastern Finance and Management, 13(4), 727-747. https://doi.org/10.1108/IMEFM-01-2019-0007 Alm El-Din, M.M., El-Awam, A.M., Ibrahim, F.M. &amp; Hassanein, A. (2022). Voluntary disclosure and complexity of reporting in Egypt: The roles of profitability and earnings management. Journal of Applied Accounting Research, 23(2), 480-508. https://doi.org/10.1108/JAAR-09-2020-0186. Amari, M. &amp; Anis, J. (2021). Exploring the impact of socio-demographic characteristics on financial inclusion: empirical evidence from Tunisia. International Journal of Social Economics, 48(9), 1331-1346. https://doi.org/10.1108/IJSE-08-2020-0527. Ascarya., Rahmawati, S., &amp; Tanjung, H. (2016). Design and determine holistic financial inclusion index for baitul maal wat tamwil design and determine holistic financial inclusion index for baitul maal wat tamwil. Conference: 2nd International Conference on IPAFEM. Yogyakarta Babajide, A. A., Adegboye, F. B., &amp; Omankhanlen, A. E. (2015). Financial Inclusion and Economic Growth in Nigeria. International Journal of Economics and Financial Issues, 5(3), 629–637. Bose, S., Saha, A., Khan, H. Z., &amp; Islam, S. (2017). Non-financial disclosure and market-based firm performance: The initiation of financial inclusion. Journal of Contemporary Accounting &amp; Economics, 13(3), 263–281. https://doi.org/10.1016/j.jcae.2017.09.006 Das, S. (2021). Pengungkapan informasi inklusi keuangan: Bukti empiris dari industri perbankan Bangladesh. Jurnal Global Bisnis, Ekonomi dan Manajemen, 11(1), 27-41. Fitriana, N. L., &amp; Prastiwi, A. (2014). Faktor-faktor yang mempengaruhi luas pengungkapan sukarela dalam annual report. Diponegoro Journal of Accounting, 642-651. Griselda, I. A., Murhadi, WR., &amp; Utami, M. (2020). Pengaruh tanggung jawab sosial perusahaan terhadap kinerja perusahaan sektor pertambangan yang tercatat di Bursa Efek Indonesia &amp; Malaysia 2014-2018. Jurnal Kewirausahaan &amp; Bisnis, 1(1), 21-30. Haldar, P. K., Rahman, S. M. M., Mia, S., Ahmed, F., &amp; Bashawir, A. (2016). Assessing the role of corporate social responsibility practices of commercial banks in enhancing financial inclusion: A study on banking sector in Bangladesh. International Journal of Economics and Financial Issues, 6(4), 1778–1783. Hossain, M., &amp; Hammami, H. (2009). Advances in accounting, incorporating advances in international accounting voluntary disclosure in the annual reports of an emerging country: The case of Qatar. International Journal of Cardiology, 25(2), 255–265. https://doi.org/10.1016/j.adiac.2009.08.002 Jaya, I. G. N. M., &amp; Sunengsih, N. (2009). Kajian analisis regresi dengan data panel. Prosiding Seminar Nasional Penelitian. Universitas Negeri Yogyakarta. Nur, M., &amp; Priantinah, D. (2012). Analisis faktor-faktor yang mempengaruhi pengungkapan corporate social responsibility di Indonesia (Studi empiris pada perusahaan berkategori high profile yang listing di Bursa Efek Indonesia). Nominal: Barometer Riset Akuntansi dan Manajemen, 1(2), 22-34. https://doi.org/10.21831/nominal.v1i2.996 Otoritas Jasa Keuangan. (2016). POJK Nomor 76/POJK.07/2016 tentang Peningkatan Literasi dan Inklusi Keuangan di Sektor Jasa Keuangan Bagi Konsumen dan/atau masyarakat. Rahmawati. (2020). Financial inclusion disclosure in Islamic microfinance: The case of baitul mal wa tamwil. In Enhancing Financial Inclusion through Islamic Finance, Volume 2 (pp. 137-160). Palgrave Macmillan. Ramzan, M., Amin, M., &amp; Abbas, M. (2021). How does corporate social responsibility affect financial performance, financial stability, and financial inclusion in the banking sector? Evidence from Pakistan. Research in International Business and Finance, 55(August 2020). https://doi.org/10.1016/j.ribaf.2020.101314 Scaltrito, D. (2016). Voluntary disclosure in Italy: Firm-specific determinants an empirical analysis of Italian listed companies. EuroMed Journal of Business, 11(2), 272–303. https://doi.org/10.1108/EMJB-07-2015-0032 Sembiring, E. R. (2012). Pengaruh profitabilitas, leverage, struktur kepemilikan dan status perusahaan terhadap pengungkapan laporan keuangan pada perusahaan manufaktur di Indonesia. Diponegoro Journal of Accounting, 1(1), 238–247. Ullah, M.H. and Rahman, M.A. (2015), Corporate social responsibility reporting practices in banking companies in Bangladesh: Impact of regulatory change. Journal of Financial Reporting and Accounting, 13(2), 200-225. https://doi.org/10.1108/JFRA-05-2013-0038 Vo, D.H., Tran, N.P., Hoang, H.T.-T. and Van, L.T.-H. (2022), Do corporate social responsibility and bank performance matter for financial inclusion in Vietnam?, Journal of Asia Business Studies, 16(4), 639-651. https://doi.org/10.1108/JABS-11-2020-0462