International Journal of Economics and Finance Studies <p style="text-align: justify;">The <strong>International Journal of Economics and Finance Studies (IJEFS</strong>) is open access, double-blind peer-reviewed, international journal published in English.</p> <p style="text-align: justify;">The scope of IJEFS encompasses theoretical, empirical or policy-oriented research articles, original research reports, reviews, short communication and scientific commentaries in the fields of economics and finance.</p> en-US (Akira Yokoyama) (Webmaster) Sat, 18 Dec 2021 11:16:13 -0500 OJS 60 LINKAGE BETWEEN ENERGY CONSUMPTION, NATURAL ENVIRONMENT POLLUTION, AND PUBLIC HEALTH DYNAMICS IN ASEAN <p>Energy consumptions, either from renewable sources or traditional sources, ultimately have an impact on the natural environment along with the community. This paper aims to investigate the influence of renewable and fossil fuel energy consumption on the natural environment and public health expenditures of four ASEAN economies; Indonesia, Malaysian, Thailand, and the Philippines. To analysis, data is collected from World Development Indicators (WDI) for the period 1985-2015 on an annual basis. Panel regression estimation is applied to examine whether the trends in the natural environment and public health expenditures are determined by energy consumption sources. The findings of the study confirm that renewable energy sources have a negative impact on carbon emissions, while fossil fuel energy has a direct impact, respectively. However, in terms of public health expenditures, renewable energy consumption (RE) shows a negative influence, whereas fossil fuel energy consumption shows a positive impact. The findings under the present study can be of great practical value for public health organizations, environmental departments, and experts in the energy sector. REC offers a viable solution in terms of lowering the harmful impact on the natural environment as well as reducing the amount of public health expenditure. Furthermore, researchers in the field of environmental science, energy economies, and public health can also utilize the present study, both from a theoretical and empirical perspective. It is pertinent to note however that this study is limited in terms of non-consideration of all ASEAN economies, missing some robust and advanced panel modelling and can potentially benefit from the addition of additional explanatory variables.</p> Kittisak Jermsittiparsert Copyright (c) 2021 Sat, 18 Dec 2021 00:00:00 -0500 ISLAMIC BENCHMARK IN BANKING PRICING TO OVERCOME BUSINESS CYCLE IN NEW NORMAL <p>This study seeks to determine a business pricing returns benchmark for the Islamic financial system. For the purpose of data collection and analysis, the study utilizes an analytic network process (ANP) method Data was collected from the stakeholders and experts in the field, through the in-depth interview and questionnaire. Findings reveal that rate of profit is the most important element as a base pricing and the actual trading index is the benchmark for pricing in Islamic financial system. Researcher recommends that pricing accounting software and big data required for better analysis and that Islamic finances will have their footings in product development by Islamic pricing benchmark Index.</p> Any Setianingrum Copyright (c) 2021 Sat, 18 Dec 2021 00:00:00 -0500 THE ROLE OF CREATIVITY AND BUSINESS PERFORMANCE ON CRISIS MANAGEMENT: EVIDENCE FROM IRAQI LISTED COMPANIES <p>Recently, crisis management has become an international issue that affects business and country economic conditions and needs the attention of regulators and recent literature. Thus, the current study examines the role of creativity (research and development (R&amp;D) expenditures, technology maintenance expenditures and spending on high technology) and business performance (return on equity and return on assets) on the crisis management of the listed firm in Iraq. The researchers have used the secondary data extracted from the financial statements of the listed firm in the Iraq Stock Exchange (ISX). The data has been taken from the twenty top-rated companies in ISX from 2011 to 2020. The researchers have executed the robust standard error along with the fixed-effect model (FEM) to analyze the association between the constructs. The results revealed that creativity and business performance have a positive association with the effective crisis management of the listed companies in Iraq. These outcomes provided support to the policymakers while making the policies regarding crisis management in the firm.&nbsp;</p> Ihab Malik Raji Al-Ameedee, Haitham Obaid Abd Alzahrh Copyright (c) 2021 Sat, 18 Dec 2021 00:00:00 -0500 THE EFFECT OF INFLATION AND WAGES ON UNEMPLOYMENT IN EAST JAVA PROVINCE <p>Unemployment is a major challenge in the way of national and regional economic development. Unemployment indicates low labour absorption. This is partly attributable to high rate of inflation &nbsp;(<a href="#_ENREF_11">Karanassou et al., 2010</a>; <a href="#_ENREF_16">Mankiw, 2003</a>). Unemployment is also influenced by wages (<a href="#_ENREF_6">Case et al., 2007</a>). This research was conducted to analyze the effect of inflation and labour wages on unemployment in East Java. Secondary data published by the Central Statistics Agency for the period 2010 – 2014 is used in the current study to explore this relationship. Samples are taken from seven cities in East Java Province. The panel analyzes the data modelling using the Eviews application software, Version 8. The Fixed Effect model analysis shows that simultaneously, the inflation variable and the wage rate affect unemployment rate in East Java, as indicated by a probability coefficient of 0.000 less than 0.05. The partial test results also show a significant effect, with a probability coefficient of 0.0434 (inflation) and 0.0012 (wages), respectively. The increase in inflation contributed to the rise in unemployment by 1,544.96 against an increase inflation by 1%. The contribution of increased wages to unemployment decreases by 0.0095, assuming the other variables are fixed. The coefficient of determination R<sup>2</sup> of 0.78 shows that inflation and wages can explain the variation of 78% of the unemployment rate in East Java Province. Other variables outside the model determine the rest (22%).</p> Ismanto Hadi Santoso , Sony Kristiyanto Copyright (c) 2021 Sat, 18 Dec 2021 00:00:00 -0500 DETERMINANTS OF FINANCIAL REPORTING QUALITY: AN EMPIRICAL STUDY AMONG LOCAL GOVERNMENTS IN INDONESIA <p>The maintenance of financial reporting quality is a crucial concern for organizations due to pressure for compliance with increased regulations and legal requirements. One of the critical shortcomings of existing literature is the lack of studies to explain the factors affecting financial reporting quality. Therefore, this study aims to examine the determinants of Financial Reporting Quality (FRQ). An empirical study was conducted across local governments in Indonesia to test the hypothesis<strong>.</strong> In this study, 302 qualified questionnaires were collected from local government employees through self-administered surveys. Furthermore, the Partial Least Square-Structural Equation Modelling (PLS-SEM) technique was used for data analysis. The result showed that Internal Control System (ICS), Effective Information Technology Governance (ITG), Regulation on Performance Measurement (RPM), and Political Influence (PIN), as well as Transparency (TRS), have a relationship with FRQ. Meanwhile, the hypothesis that Commitment to Organization (COR) strengthens the effect of ICS, ITG on FRQ was rejected. The result provided evidence of the significant indirect effect of RPM and PIN on FRQ through TRS. In conclusion, FRQ, as the result of accounting activities, provided financial information understood by users and used for decision-making in the future.</p> Swarmilah Hariani, A. Fakhrorazi Copyright (c) 2021 Sat, 18 Dec 2021 00:00:00 -0500 SOLUTIONS TO PROMOTE DIVERSIFICATION OF INVESTMENT CAPITAL FOR ROAD TRANSPORT DEVELOPMENT IN VIETNAM <p class="keywords" style="text-align: justify; line-height: normal; margin: 0in 0in 8.0pt 0in;"><span style="font-size: 12.0pt;">In terms of the ensuring the growth and development of the national economy, road transport is seen as a key factor to consider. It also serves as a channel to develop other socio-economic sectors. During the recent years, the investment capital in Vietnam has increased and diversified in terms of both volume and form of mobilization. Besides the State capital, investment drive has been ensured through participation from the whole society. The annual capital, however, only meets more than 54% of the demand. There are several objective and subjective reasons for capital shortage: planning has not kept pace with economic development, management has shortcomings such as lack of a support policy in case of risks, loans from commercial banks are mainly short-term, policies to encourage investment in the form of BOT and BT, among others, are not attractive enough to the private sector and the whole society. The objective of this article is to examine the existing conditions of capital for road transport development. The authors use the questionnaire method with measurements done using the 5-point Likert scale and a 3-step survey process. Using SPSS and a sample size of 250, the authors explore the role of factors that strongly hinder or strongly influence the diversification policies. This is the base for them to propose urgent solutions to promote diversification of investment capital for road transport development in Vietnam.</span></p> Nguyen Thi Tuyet Dung, Nguyen Quoc Toan, Vuong Phan Lien Trang Copyright (c) 2021 Wed, 01 Dec 2021 00:00:00 -0500 THE RELATIONSHIP BETWEEN GOVERNMENT EXPENDITURE AND ECONOMIC GROWTH IN SOUTH AFRICA FROM 1981-2019: AN ARDL AND ECM APPROACH <p>This study examines the relationship between government expenditure and economic growth in South Africa for the period spanning from 1981 to 2019. The study utilises the available annual time series data sourced from the South African Reserve Bank (SARB), the World Bank and Knoema from 1981 to 2019. Statistical results from the ARDL model show that there is a negative and insignificant long run relationship between government expenditure and economic growth in South Africa. Results from the ECM show that there is a short run positive and statistically significant relationship between government expenditure and economic growth. Government expenditure can therefore be used as a short run stabilisation tool since the relationship is positive and statistically significant. In the long run however, the government should promote investment as it boosts economic growth and helps the avoid crowding out effect of investment in South Africa</p> Nyiko Worship Hlongwane, Tumelo Donald Mmutle, Olebogeng David Daw Copyright (c) 2022 Wed, 01 Dec 2021 00:00:00 -0500 ANTECEDENTS AND CONSEQUENCES OF PEOPLES' ATTITUDES TOWARDS SHARING ECONOMY: A MODERATED MEDIATION MODEL <p>The current research study describes the antecedents and consequences of people's attitude towards the sharing economy using a moderated and mediation model. This research study was conducted in China and is based on primary data analysis where data is collected using specific questions related to the understudy variables, the TAM factors, the social factors, and the attitude factors. These are all considered as independent variables while the attitude towards sharing economy and repurchase intention are considered dependent variables. The data based on primary sources is collected from 100 plus respondent participants for measuring the data using the IBM SPSS software while running different informative results, including descriptive statistical analysis, the correlation coefficient, the one-way ANOVA test analysis, the regression analysis, as well as the ratio test analysis between independent and dependent variables. The result found that there are negative but significant relations between attitude towards sharing economy and TAM factors and social factors.</p> Shanshan Feng, Nor Zafir Binti. Md. Salleh, Mazilah Binti Abdullah Copyright (c) 2022 Wed, 01 Dec 2021 00:00:00 -0500