International Journal of Financial, Accounting, and Management

Issued by Goodwood Publishing, this journal is an international journal in the field of finance, accounting, and management. International Journal of Financial, Accounting, and Management (IJFAM) comprises a multitude of activities which together form one of the world's fastest-growing international sectors. This journal takes an interdisciplinary approach and includes all aspects of finance, accounting, and management studies. The journal's contents reflect its integrative approach - including primary research articles, discussion of current issues, case studies, reports, book reviews, and forthcoming meetings.

The journal comprises articles which are relevant to both academics and practitioners, and are the results of anonymous reviews by at least two referees chosen by the editor for their specialist knowledge.

Issued by Goodwood Publishing, this journal is an international journal in the field of finance, accounting, and management. International Journal of Financial, Accounting, and Management (IJFAM) comprises a multitude of activities which together form one of the world's fastest-growing international sectors. This journal takes an interdisciplinary approach and includes all aspects of finance, accounting, and management studies. The journal's contents reflect its integrative approach - including primary research articles, discussion of current issues, case studies, reports, book reviews, and forthcoming meetings.

The journal comprises articles which are relevant to both academics and practitioners, and are the results of anonymous reviews by at least two referees chosen by the editor for their specialist knowledge.

Published
2025-09-01

Articles

Digital marketing evolution: Understanding the role of AI and Big Data in shaping marketing strategies

Purpose: This study explores the evolution of digital marketing and the role of Artificial Intelligence (AI) and Big Data in enhancing marketing effectiveness. As market complexity and consumer needs continue to evolve, companies must adopt new technologies to optimize their strategies. Methodology/approach: This research employs a comprehensive literature review, analyzing journal articles, industry reports, and case studies related to AI and Big Data in digital marketing. The process involves selecting and evaluating relevant sources to gain in-depth insights into their impact on marketing strategies. Results/findings: The study finds a positive correlation between AI implementation in digital marketing and improved campaign effectiveness. Companies leveraging AI report increased consumer engagement and higher sales conversions. Moreover, integrating Big Data and AI enhances customer satisfaction and loyalty. Firms adopting these technologies demonstrate greater adaptability to market dynamics and evolving consumer preferences. Conclusion: The study concludes that AI and Big Data play a crucial role in shaping digital marketing strategies by enabling personalization, predictive analytics, and data-driven decisions. Although challenges such as privacy concerns and algorithmic bias remain, their benefits far outweigh the risks, offering firms a sustainable competitive advantage. Limitations: The study is limited to existing literature, which may introduce selection bias. Additionally, the absence of empirical analysis restricts deeper insights into AI and Big Data applications in marketing. Contribution: This research provides a deeper understanding of AI and Big Data’s impact on digital marketing strategies. The findings assist marketers in developing more effective and adaptive strategies.

Systematic literature review: OCB's role in leadership impact on knowledge sharing

Purpose: This study aims to implement an Internet of Things (IoT)-based monitoring system to optimize photovoltaic (PV) system performance and ensure uninterrupted power supply for critical medical equipment, specifically ventilators and monitors, in the ICU room of RSI Siti Khadijah Palembang. Methodology/approach: This current study used a Systematic Literature Review (SLR) methodology to investigate related literature published between 2010 and 2024, identifying relevant publications through research in academic databases such as Dimensions AI. Results/findings: The results showed that TL, JS, and OC positively influence OCB, which in turn enhances SLB. Nevertheless, this study also revealed deficiencies in earlier studies, particularly concerning the function of OCB as a mediator. Conclusion: This study indicates that TL, JS, and OC can positively affect OCB, which then exerts a favorable influence on KSB. Limitations: The availability of research in specific circumstances presents a limitation to the study. Contribution: This study significantly enhances the understanding of how Organizational Citizenship Behavior (OCB) mediates the relationship between Transformational Leadership (TL), Job Satisfaction (JS), and Organizational Commitment (OC) concerning Knowledge Sharing Behavior (KSB), while also creating opportunities for the development of a more comprehensive model.

What drives Indonesian companies to engage in ESG: The non-financial corporate context

Purpose: This study aims to determine how managerial myopia and financial distress affect ESG performance through earnings management. Methodology/approach: The PLS-SEM approach was used to examine secondary data in this quantitative investigation. This study uses data from non-financial companies listed on the IDX from 2013-2022. Results/findings: This study discovered that financial distress improves the company's ESG performance as seen through earnings management, but this effect is insignificant. Meanwhile, managerial myopia has a negative and insufficient effect on ESG performance as seen through earnings management. Separate research revealed that managerial myopia and financial distress had a detrimental impact but not significant on ESG performance. Conclusion: Companies facing financial distress tend to reduce ESG involvement, while myopic managers prioritize short-term outcomes over sustainability practices. Earnings management weakens ESG performance, and both financial distress and managerial myopia fail to significantly drive ESG engagement in Indonesian firms. Limitations: Due to the limitations of research data, especially data on research and development (R&D), this study cannot compare ROA, marketing, and R&D performance to measure managerial myopia. This study does not further investigate whether the low motivation of companies towards ESG caused by financial distress and managerial myopia affects the company's financial performance. Contribution: This research contributes to deepening understanding of the negative impacts of financial distresses and managerial myopia as well as the effects of earnings management on corporate sustainability.

Financial management behaviour in supporting the sustainability of MSMEs in the Sarbagita region Bali

Purpose: This study aims to analyse the role of FMB in supporting the sustainability of MSMEs. This analysis is essential because financial management among MSMEs in Bali remains suboptimal, with challenges in separating personal and business finances. Methodology/approach: Denpasar, Badung, Gianyar, and Tabanan Regency (Sarbagita) were chosen as research locations based on previous observations. The adoption of FinTech and the measurement of FinSat in achieving financial performance (FP) have been under-researched. This research was conducted quantitatively to analyse the FP of MSMEs in achieving business sustainability. Results/findings: DFL has a positive and significant influence on FMB, and FinTech has a positive and significant impact on FinSat. However, FinSat positively and significantly influences FP. FinSat mediates the relationship between FinTech and FP, but FMB does not mediate the relationship between DFL and FP. Conclusions: The implementation of Fintech helps owners achieve FinSat, thereby meeting MSME performance targets. Individuals must have DFL to mitigate the risks associated with Fintech Limitations: The research location, which is limited to only four regencies/cities in Bali, presents a limitation, making the results not generalizable to all MSMEs. Additionally, the financial management aspect of this study does not include the financial conditions of previous periods. Contribution: The research findings contribute to the development of personal financial management science and are utilized in MSME mentoring to optimize their business sustainability.

Dividend policy and market share price of listed industrial goods companies in Nigeria

Purpose: The study examined the effect of dividend policy on market share price of listed industrial goods companies in Nigeria. Dividend policy was measured using dividend per share, dividend yield, and dividend payout ratio. Methodology/approach: The study adopted an ex-post facto research design. Data were sourced from audited financial reports of nine sampled industrial goods companies listed in Nigeria, covering the period 2014–2023. The hypotheses were tested using Panel Pooled Regression Analysis with White cross-section standard errors and covariance. Results/findings: Findings revealed a positive and significant effect of dividend per share (p=0.0000) and dividend payout ratio (p=0.0339) on market share price, while dividend yield (p=0.0007) exerted a negative but significant effect. Dividend policy variables jointly explained about 78% of the variation in market share price, indicating their strong explanatory power. Conclusions: The study concluded that proper dividend policy increases the market share price of listed industrial goods companies. Managers and boards should strive to achieve a steady increase in dividend per share, as it enhances market value, but without undermining firm sustainability. Limitations: The study focused only on listed industrial goods companies in Nigeria, which limits the generalizability to other sectors or unlisted firms. Contribution: This research contributes to the literature by providing empirical evidence on the contrasting effects of dividend policy components on share prices in an emerging economy context. By covering a recent ten-year period, it offers fresh insights into how dividend signals are interpreted differently by shareholders, thereby supporting the design of sector-specific financial strategies.

A panel regression analysis of corporate governance mechanism and financial performance of listed cement industries in Nigeria

Purpose: Inquire into the significant correlation allying corporate governance mechanisms (CGMs) with financial performance (FP) of the prominent quoted cement firms in Nigeria. Methodology/approach: The study use panel data statistical modelling to investigate the time-dependent effects across different firms. The data analysis is based on a purely numerical dataset obtained through desk research, which was then scrutinized using the STATA 14.0 software package along with suitable statistical and econometric tools. Results/findings: The findings indicate a positive correlation between board structures and the FP of the selected cement companies in Nigeria. While the size of the board does not significantly influence performance, the presence of independent directors on the board positively affects financial performance. Conversely, there is a negative correlation between directors' compensation and the financial performance of these firms, suggesting that an increase in directors' compensation may lead to a decline in financial FP. Conclusion: The study concludes that there is a positive relationship between board structures and the financial performance, though board size is not a critical factor but the presence of independent directors on the board positively impacts financial performance. Limitations: The analysis is confined to five years Annual report and financial statements of three major firms in the Nigerian cement industry, covering a period from 2019 to 2023 using Panel-Corrected Standard Errors Regression model. Contribution: This comprehensive study evaluates the current state of corporate governance practices (CGPs) in Nigeria, aiming to identify improvements for CG policies.

Leveraging e-WOM and green service quality to boost revisit intentions green hotels

Purpose: This study examines the effects of Green Service Quality (GSQ) and electronic word of mouth (e-wom) on tourist satisfaction and revisit intention in eco-friendly hotels, with tourist satisfaction as a mediating variable. Methodology/approach: Using a quantitative approach, data were collected through a structured questionnaire distributed to individuals who had stayed at green hotels in Jakarta. Purposive sampling was applied, and data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Results/findings: The results show that both GSQ and e-WOM significantly influence Tourist Satisfaction and Revisit Intention. Tourist Satisfaction also mediates the relationship between GSQ and e-WOM with Revisit Intention. Among all variables, Tourist Satisfaction is the strongest predictor of revisit intention. Conclusions: These findings highlight that high-quality green services and positive e-WOM enhance guest satisfaction and loyalty. Satisfied guests tend to return and recommend the hotel, strengthening its reputation and supporting long-term sustainability. Limitations: However, the study has limitations, including reliance on self-reported data and a geographically limited sample. Other factors such as pricing or hotel branding were not considered. Contribution: This research contributes to the green hospitality literature by confirming the mediating role of satisfaction and offering managerial insights on how sustainable practices and digital engagement can drive customer loyalty.

Company and CEO characteristics of climate change disclosure in Malaysia: A proposed empirical framework

Purpose: This study examines how company-specific characteristics (profitability, size, leverage) and CEO traits (duality, tenure, education, and meeting attendance) influence Climate Change Disclosure (CCD) practices among Malaysian listed companies. Grounded in legitimacy theory, the research seeks to identify internal determinants of voluntary climate reporting in emerging markets. Methodology/approach: A quantitative content analysis is conducted on 114 Malaysian listed firms from four environmentally sensitive sectors during 2021–2022. Data are manually collected from annual and sustainability reports available on corporate websites and Bursa Malaysia. CCD is measured using a disclosure index based on TCFD recommendations. Descriptive statistics, Pearson correlation, and multiple regression analysis are employed to evaluate relationships between company and CEO characteristics and CCD. Results/findings: Findings reveal that company-level variables such as profitability, firm size, and leverage, alongside CEO attributes including duality, tenure, education, and meeting attendance, significantly affect CCD practices. Larger and more profitable firms, as well as CEOs with stronger educational backgrounds and greater governance engagement, are more likely to adopt higher disclosure levels. Conclusions: The study highlights the combined importance of structural and leadership factors in shaping CCD in Malaysia. It provides empirical insights to guide Malaysia’s transition toward compulsory climate reporting under IFRS S1 and S2. Limitations: The research focuses only on voluntary disclosures in four environmentally sensitive sectors, limiting generalization across industries. Contribution: This study contributes by integrating company and CEO characteristics into a single framework, offering implications for regulators, policymakers, and corporate governance reform in emerging economies.

Innovative disruption in financial technology and payment systems

Purpose: This study explores the transformative impact of financial technology (fintech) on the global financial services industry, focusing on innovations, regulatory implications, and challenges. The research aims to identify key technological disruptions, examine the regulatory landscape, and highlight opportunities and risks introduced by fintech. Methodology/approach: A Systematic Literature Review (SLR) was conducted using SCOPUS, IEEE Xplore, and ScienceDirect. Following a structured protocol, 153 peer-reviewed articles (2014–2019) were analysed through thematic and meta-analytical approaches. The study adopted an interpretative philosophy and used the PICOC framework to refine search precision and synthesis. Results/findings: The analysis reveals fintech’s disruptive innovations in financing and payment systems, such as peer-to-peer (P2P) lending, crowdfunding, blockchain-enabled transactions, and mobile payments. These services have enhanced financial inclusion, operational efficiency, and customer accessibility. Regulatory frameworks have evolved in parallel, though challenges remain in addressing moral hazard, cybersecurity, and compliance. Geographically, Asia, particularly China and Indonesia, leads fintech research and implementation. Conclusion: Fintech has significantly reshaped financial ecosystems by enabling decentralized financial services, accelerating digital transactions, and fostering inclusivity. However, cybersecurity risks, limited regulatory clarity, and uneven global adoption continue to impede its sustainable integration. Limitations: The study is limited to English-language literature from 2014–2019 and may not capture recent post-pandemic developments or region-specific innovations in Islamic or informal economies. Contribution: This paper contributes a comprehensive synthesis of fintech’s evolution, identifies existing gaps, and offers insights for policymakers, financial institutions, and researchers to foster a balanced, secure, and innovative financial environment.

Sustainability accounting knowledge and compliance for mining companies in Southern Africa. a bibliometric analysis

Purpose: This study investigates sustainability accounting compliance and awareness among mining companies in Southern Africa through a bibliometric analysis. It aims to identify enabling factors, challenges, and strategies to strengthen disclosure practices amid environmental degradation, pollution, and climate change. Methodology/approach: A bibliometric approach was applied, analyzing 231 peer-reviewed articles (2000–2024) from Scopus and Web of Science. Data were processed with VOSviewer and Biblioshiny to map publication trends, keyword clusters, author networks, and institutional influence. The analysis was guided by Stakeholder and Institutional Theories to interpret determinants of disclosure. Results/findings: Findings reveal a rapid growth of academic interest, especially after the SDGs, with South Africa leading outputs due to stronger institutions and frameworks such as King IV and JSE integrated reporting. However, sustainability accounting compliance across the region remains fragmented. Adoption of standards like the GRI is uneven, with many firms treating disclosure symbolically. Weak regulation, limited technical capacity, and voluntary frameworks constrain effective implementation. Conclusion: The study demonstrates a gap between academic knowledge and corporate practice in sustainability accounting. Stronger regulation, institutional capacity building, and academic–industry collaboration are essential to embed sustainability reporting into mining operations. Limitations: The reliance on bibliometric data restricts insights into firm-level practices and excludes non-indexed or grey literature. Contribution: This study maps two decades of sustainability accounting research in Southern Africa’s mining sector, providing evidence-based recommendations for regulators, policymakers, and industry leaders to align corporate disclosure with international sustainability standards.