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Contact Name
Mochamad Nashrullah
Contact Email
Nashrul.id@gmail.com
Phone
+6285745063538
Journal Mail Official
Nashrul.id@gmail.com
Editorial Address
Kavling Banar, Pilang, Sidoarjo, Jawa Timur
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Unknown,
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INDONESIA
IJEFSD
ISSN : 26154021     EISSN : 26206269     DOI : https://doi.org/10.31149/ijefsd.v7i1
Core Subject : Economy,
International Journal on Economics, Finance and Sustainable Development (IJEFSD) is an international, peer-reviewed, and scholarly journal aimed at being a platform for interdisciplinary researchers across the globe to develop and advance both theory and practice of economics and finance while considering sustainability. IJEFSD welcomes all well-developed papers exploring areas of economics and finance including papers in area of sustainable development. Moreover, the journal accepts research articles based but concerning a topic of interest in the field of sustainability whilep pointing out fields, such as, economics, marketing, business, management, sociology and and other related ones.
Articles 774 Documents
The Role of International Human Resource Management Practices in Addressing Job Alienation: An Analytical Study of The Opinions of a Sample of Employees At Zain Iraq Sahar Jabbar Rahman
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 3 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i3.5745

Abstract

This study seeks to examine the impact of international human resource management strategies on mitigating job alienation among employees in multinational corporations in Iraq. The research used a descriptive-analytical methodology and utilized a questionnaire as the primary instrument for data collection from a sample of 75 employees at Zain Iraq firms. The data were examined using the SPSS V29 software for fundamental statistical tests and the AMOS V29 software for structural equation modeling (SEM) analysis. Utilization of Structural Equation Modeling (SEM) to evaluate causal linkages among variables. International human resource management strategies include six primary dimensions: recruiting, training and development, performance assessment, compensation and incentives, leadership, and organizational communication, while job alienation is singular in nature. The findings indicated a substantial link and influence between multinational human resource practices and degrees of work alienation. Enhancing training, communication, and organizational equity mitigates feelings of alienation and fosters belonging and work satisfaction, while insufficient transparency in performance assessments and salary discrimination exacerbates isolation and detachment. The report advocates for the implementation of a national plan for international human resource management in Iraq, based on principles of justice, cultural empowerment, and the advancement of communication and collaborative training methods to foster trust and organizational loyalty.
Macroeconomic Volatility, Security Allocations, and Maternal Mortality in Nigeria: A Vector Error Correction Approach Sophia Maimuna John
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 3 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i3.5751

Abstract

The intersection of fiscal reallocations driven by internal security threats and open-economy monetary shocks presents a profound policy challenge for resource-dependent developing nations. While traditional public health literature focuses heavily on clinical or micro-level institutional determinants of maternal death, it frequently overlooks the macro-fiscal and monetary transmission channels that dictate real health-resource efficacy. This study empirically investigates the extent to which exchange rate depreciation mediates or exacerbates the relationship between military expenditure and maternal mortality in Nigeria. Utilizing annual time-series data spanning from 2000 to 2024, the study employs a rigorous Vector Error Correction Model (VECM) under the Johansen cointegration framework to separate long-run structural equilibria from short-run dynamic innovations among uniformly integrated I (1) series. The long-run normalized structural equation reveals a stark dual-threat mechanism affecting maternal health. First, military expenditure exhibits a statistically significant positive elasticity (β= 0.245), validating the Samuelsonian "Guns versus Butter" hypothesis where rising security funding systematically crowds out nominal social budgets. Second, exchange rate depreciation exerts a significant positive effect on the maternal mortality ratio (β= 0.188), confirming an intense import-dependence pass-through mechanism. Because Nigeria relies on imports for over 70% of its medical inputs, currency devaluation functions as a severe cost-push supply shock that prices vulnerable demographics out of obstetric care. The Error Correction Term (ECTt-1 = -0.385) indicates that while the system maintains long-run stability, short-run shocks to defense and currency values take approximately 2.6 years to resolve, leaving pregnant populations highly exposed in the interim. To mitigate these macro-structural hazards, Nigeria must establish ring-fenced fiscal buffers for maternal healthcare that are legally insulated from defense reallocations. Additionally, policymakers should deploy targeted counter-cyclical foreign exchange subsidies for essential medical imports and aggressively incentivize vertically integrated domestic pharmaceutical manufacturing to decouple human capital survival from external monetary volatility.
Analysis of the Role of BSI Gold Pawn and Gold Installment Products in Increasing Sharia Financial Inclusion: An SDGs Perspective Ninda Ardiani; Lathifatul Khoirun Nisa
International Journal on Economics, Finance and Sustainable Development Vol. 7 No. 3 (2025): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v7i3.5764

Abstract

This study was conducted to examine the role of Bank Syariah Indonesia's (BSI) Gold Pawn and Gold Installment products in increasing Islamic financial inclusion and helping achieve SDGs Goal 8 on Decent Work and Economic Growth. The study was conducted using a qualitative approach through a case study at BSI KCP Sidoarjo Cemengkalang, with data sources consisting of interviews with pawn officers, marketing, and Branch Managers, as well as secondary data such as BSI's annual report, OJK publications, SNLIK, and national media coverage. The Gold Pawn product aims to meet the short-term liquidity needs of the community, especially MSMEs, while the Gold Installment product tends to be positioned as a real asset-based investment instrument. The continuous growth of BSI's gold business reflects the strengthening credibility of Islamic financial products. Overall, both products play a role in encouraging inclusive economic growth, empowering MSMEs, and improving community welfare in a sustainable manner.
The Effect of Corporate Social Responsibility and Financial Performance on Firm Value With Good Corporate Governance as a Moderating Variable Amanda Ragellia Putri; Duwi Rahayu
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 3 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i3.5765

Abstract

This study aims to analyze the influence of Corporate Social Responsibility and financial performance on firm value, with Good Corporate Governance serving as a moderating variable. The study employs a quantitative method using secondary data from energy sector companies listed on the Indonesia Stock Exchange for the period 2021– 2024. The research sample was obtained through purposive sampling, comprising 75 data after outlier removal. Data analysis was conducted using multiple linear regression with SPSS software. The results indicate that CSR does not affect firm value, whereas financial performance has a negative effect on firm value. The Board of Directors moderates the effect of CSR positively and that of financial performance negatively on firm value. The Independent Board of Commissioners moderates the negative influence of CSR and the positive influence of financial performance, while the Audit Committee is unable to moderate the influence of CSR but is able to moderate the influence of financial performance on firm value. This study is expected to serve as a reference for companies and investors in understanding the factors that influence firm value.
The Impact of ESG Disclosure, Competitive Advantage, and Cash Holding on Financial Performance and Firm Valuation Eny Maryanti; Ayu Faizatul Machmuda
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 3 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i3.5766

Abstract

This study examines the influence of Environmental, Social, and Governance (ESG) Disclosure, Competitive Advantage, and Cash Holding on Financial Performance and Firm Value. Quantitative methods were used with secondary data from 50 companies listed on the Indonesia Stock Exchange for the 2020-2024 period. The analysis was conducted using multiple linear regression. The results show that Cash Holding have a significant positive effect on Financial Performance and Firm Value. ESG Disclosure has no significant effect on Financial Performance or Firm Value, indicating that ESG practices are not yet a primary consideration for investors. Competitive advantage has a significant positive effect on financial performance, but not on firm value, indicating that competitive advantage has a greater impact on a company's internal operational efficiency than on market perceptions of firm value. This finding confirms that sustainability initiatives have not yet had a direct financial impact, while a strong competitive position has a significant impact on firm performance. This study provides important insights for managers and investors in decision making.
The Impact of Boundary Spanning on The Stages of Crisis Management: The Mediating Role of Artificial Intelligence – A Field Study at The Diyala Governorate Office Faeq Khudr Mutab; Ahmed Samir Nayef Al-Thabit
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 3 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i3.5781

Abstract

This research aims to demonstrate the impact of Boundary Spanning processes on crisis management phases through the mediating role of artificial intelligence, specifically within the Diyala Governorate Office. The research stems from a central problem: the extent to which Boundary Spanning processes, with their dimensions of surveying, monitoring, prediction, and evaluation, can enhance crisis management phases—namely, early warning and detection, preparedness and prevention, crisis containment, recovery, and organizational learning—when employing artificial intelligence technologies. The research adopted a descriptive-analytical approach, deemed the most suitable for the nature and objectives of the study. It also utilized a quantitative approach through a questionnaire and a qualitative approach through semi-structured interviews and analysis of official documents. The research population consisted of 293 employees of the Diyala Governorate Office. A questionnaire, designed based on existing literature and previous studies, was used to measure the research variables and test the hypotheses. The research reached a number of conclusions, most notably the existence of a statistically significant correlation and influence between Boundary Spanning processes and crisis management phases, as well as a correlation and influence between artificial intelligence and crisis management phases. The results also showed that artificial intelligence plays a significant mediating role in enhancing the impact of Boundary Spanning processes during crisis management phases. The research concluded that the integration of Boundary Spanning processes and artificial intelligence technologies represents a modern strategic approach that can contribute to enhancing the preparedness of the Diyala Governorate Office to face crises and transitioning from reactive to proactive management based on prediction and intelligent data analysis.
The Quantum Shift: Reimagining Entrepreneurship in a Non-Linear World Victor Obasse; Taiye Adefemi Bamidele; Ifeanyi Ogbebor
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 2 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i2.5783

Abstract

Entrepreneurship has often been framed as a linear pursuit grounded in prediction, planning, and controlled progression from idea to execution, yet this framing no longer aligns with the realities of contemporary environments shaped by uncertainty, interdependence, and rapid technological and societal change. This article develops a conceptual argument for a quantum shift in entrepreneurial thinking. The quantum shift describes a movement away from deterministic assumptions towards a more fluid, relational, and adaptive understanding of entrepreneurial activity, drawing on insights from complexity science, systems thinking, and digital transformation. Entrepreneurship is presented as a dynamic practice embedded within evolving networks of actors, technologies, and institutions, where opportunities emerge through interaction rather than through linear discovery. Illustrative cases demonstrate how non linear conditions reshape opportunity formation, strategic decision making, and value creation. The article proposes a conceptual framework that captures the essence of quantum entrepreneurship and outlines its implications for theory, practice, and policy.
Segmentation of Local Skincare Consumers Based on Electronic Word of Mouth (e-WOM) Characteristics: A Hierarchical Cluster Analysis Approach Rafaillah Neysa Rachman
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 3 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i3.5789

Abstract

The rapid development of the local skincare industry in Indonesia has encouraged changes in consumer behavior in accessing and responding to digital information, particularly through electronic word of mouth (e-WOM). This study aims to map the e-WOM characteristics of local skincare consumers based on similarities in response patterns using cluster analysis. e-WOM was measured through three dimensions—intensity, valence of opinion, and content—adapted from Goyette et al. (2010), using six statements rated on a five-point Likert scale. A descriptive quantitative survey was conducted with 73 female students at Universitas Negeri Surabaya who actively used local skincare products and had been exposed to online reviews. The instrument was valid (item-total correlations ranging from 0.610 to 0.824, exceeding the critical value of 0.229) and reliable (Cronbach's Alpha = 0.843). Data were analyzed using Hierarchical Cluster Analysis with Ward's Method and Squared Euclidean Distance. The analysis identified three e-WOM clusters: Cluster 1 (High/Active e-WOM, 49.3%), Cluster 2 (Moderate e-WOM, 46.6%), and Cluster 3 (Low/Passive e-WOM, 4.1%). These findings indicate that consumers' responses to e-WOM are heterogeneous and form distinct behavioral patterns, providing a basis for consumer segmentation and more targeted digital marketing strategies.
Integrated Reporting and Sustainable Development Goal Achievement of Listed Non-Financial Firms in Nigeria Chigozi Johnson Wikpe; Lazbery Nyebuchi Nnah
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 3 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i3.5790

Abstract

This study examined the relationship between integrated reporting and Sustainable Development Goal (SDG) achievement among listed non-financial firms in Nigeria. The increasing demand for corporate transparency and accountability has heightened the importance of integrated reporting as a strategic framework for communicating how organizations create value through financial and non-financial capital while contributing to sustainable development. Despite growing global adoption of integrated reporting, empirical evidence on its influence on corporate contributions to the SDGs in developing economies remains limited. To demonstrate an appropriate empirical approach, this study employed a quantitative ex post facto research design using a simulated balanced panel dataset comprising 40 listed non-financial firms observed over the period 2019–2025, resulting in 280 firm-year observations. Integrated reporting was measured using an Integrated Reporting Disclosure Index, while Sustainable Development Goal achievement was proxied by an SDG Disclosure Index derived through content analysis. The simulated data were analysed using descriptive statistics, Pearson correlation analysis, panel regression techniques (Pooled Ordinary Least Squares, Fixed Effects, and Random Effects), the Hausman specification test, and diagnostic tests, including Variance Inflation Factor, Modified Wald, Wooldridge, and Pesaran Cross-sectional Dependence tests. The illustrative results indicated that integrated reporting had a positive and statistically significant effect on Sustainable Development Goal achievement. The findings further suggested that firm size, profitability, and firm age positively influenced SDG achievement, whereas financial leverage exhibited a negative relationship. The study concludes that integrated reporting has the potential to strengthen corporate transparency, improve sustainability disclosure, and enhance organizational contributions toward the achievement of the Sustainable Development Goals. However, because the analysis was conducted using a simulated dataset for methodological illustration, future studies should validate these relationships using actual firm-level data from listed companies in Nigeria and other emerging economies.
Digital Knowledge and Organizational Performance in Emerging Economies: Evidence from Uzbekistan Kamola Toshtemirova
International Journal on Economics, Finance and Sustainable Development Vol. 8 No. 3 (2026): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v8i3.5795

Abstract

This paper examines the relationship between employee-level digital knowledge and perceived organisational performance in Uzbek enterprises. The theoretical framing draws on the resource-based view (RBV) and dynamic capabilities, which treat digital knowledge as a strategic resource complementary to technology investment. Empirical analysis is conducted on a cross-sectional online survey of 288 respondents from five industry sectors. Digital knowledge is operationalised through the Composite Digital Knowledge Index (CDKI; Cronbach's α = 0.797), and organisational performance is captured through a global self-report item. Spearman's rank correlation between the two variables is ρ = 0.51 (p < 0.001), a moderate-to-strong positive association. Group comparisons show a clear gradient across knowledge tiers: among respondents in the low-knowledge tier, 57% disagree or strongly disagree that digitalisation benefits their organisation, whereas in the high-knowledge tier, 68% agree or strongly agree. Multivariate sensitivity analysis with position, age and industry controls confirms the primary association. The findings support the interpretation that digital investment produces performance returns only in the presence of adequate human-capital complementarity, and they argue for the integration of digital-literacy programmes into national digital transformation strategies.

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