Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
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This Author published in this journals
All Journal Journal of Applied Business and Technology Research in Accounting Journal
Mazzlida Mat Deli
Unknown Affiliation
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Information Asymmetry Moderates the Impact of Green Intellectual Capital and Real Earnings Management on Future Stock Returns Murwaningsari, Etty; Sistya Rachmawati; Mazzlida Mat Deli
Journal of Applied Business and Technology Vol. 6 No. 2 (2025): Journal of Applied Business and Technology
Publisher : Institut Bisnis dan Teknologi Pelita Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35145/jabt.v6i2.200

Abstract

The aim of this study is to (1) analyze the impact of green intellectual capital and real earnings management on future stock returns. (2) The role of information asymmetry as a moderating variable for the impact of green intellectual capital and real profit management on future stock returns. This research method uses secondary data from companies in the non-cyclical consumer sector listed on the Indonesian Stock Exchange (BEI). The research sample was selected in the period 2021-2022 based on purposive sampling criteria–, resulting in 158 observations. The data analysis was performed using the moderated regression analysis (MRA) approach to test the relationship between the variables in this study. The results of this investigation show that: (1) Green intellectual capital and real earnings management have a positive impact on future stock returns. (2) Information asymmetry does not weaken the relationship between green intellectual capital and future stock returns, so that it is classified as a moderating predictor. On the other hand, information asymmetry is shown to attenuate the impact of real earnings management on future stock returns, indicating that this variable acts as a full moderator. (3) The control variable leverage has no effect on future stock returns, while firm size has a negative effect on future stock returns.
Financial Technology and SME Resilience in the Digital Economy: A Comprehensive Literature Review Astri Ayu Purwati; Zulfadli Hamzah; Mazzlida Mat Deli
Research in Accounting Journal (RAJ) Vol. 6 No. 2 (2025): RAJ (Research in Accounting Journal)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/zm032z26

Abstract

The rapid development of digital technologies has transformed the financial landscape and created new opportunities for Small and Medium-Sized Enterprises (SMEs) to improve their access to financial services and enhance business performance. This study aims to systematically review the existing literature on digital financial inclusion, FinTech adoption, and SME performance to identify major research trends, synthesize empirical findings, and propose future research directions. The study employed a Systematic Literature Review (SLR) approach based on the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) framework. Relevant articles published between 2015 and 2025 were collected from reputable academic databases, including Scopus, Web of Science, ScienceDirect, Emerald Insight, SpringerLink, Taylor & Francis, and MDPI. A total of 20 selected studies were analyzed using thematic synthesis techniques. The findings reveal that digital financial inclusion and FinTech adoption significantly contribute to SME growth, operational efficiency, financial accessibility, innovation capability, and business sustainability. Digital financial inclusion enables SMEs to overcome traditional financing barriers by facilitating access to digital financial services, while FinTech adoption improves financial management, transaction efficiency, and alternative financing opportunities. Furthermore, the review highlights the important roles of financial literacy, technological readiness, organizational capability, and government support in promoting successful digital finance adoption. Despite these benefits, challenges such as digital literacy limitations, cybersecurity risks, technological infrastructure constraints, and regulatory uncertainties continue to impede broader implementation. The study also identifies several research gaps, particularly regarding the integration of emerging technologies such as artificial intelligence, blockchain, and big data analytics within SME financial ecosystems. The findings provide valuable insights for researchers, policymakers, financial institutions, and business practitioners seeking to promote sustainable SME development through digital financial transformation.
Co-Authors Astri Ayu Purwati Etty Murwaningsari Sistya Rachmawati Zulfadli Hamzah