Non-Banking Microfinance Institutions (NBMFIs) are central to inclusive financial development, yet their long-term viability in developing economies remains an under-examined concern. This study constructs a composite Sustainability Index tailored to Bangladesh’s microfinance landscape, drawing on a multidimensional framework that integrates operating performance ratio, depth of outreach, and breadth of clientele. Utilizing the TOPSIS methodology, sustainability scores are calculated for 50 Bangladeshi NBMFIs across two institutional categories. The analysis reveals wide variation in sustainability performance, with scores ranging from 0.97 to 0.20. To understand the drivers of this divergence, the study estimates a multiple regression model linking sustainability to internal financial and operational metrics. Total Loan Portfolio (TLP) and Deposits Mobilized (DPM) emerge as positive predictors of sustainability, while Leverage (LEV) and Portfolio at Risk (RISK30) exert significant downward pressure. These results not only highlight the dual imperative of financial efficiency and risk control but also offer a diagnostic tool for regulators, donors, and institutional managers. The index framework is generalizable and offers potential applications for comparative assessments across regions and time.
Entrepreneurial competence is increasingly recognised as a key pillar in Vocational and Secondary Education, enhancing employability, personal development, and social inclusion. This study examines its impact on both teachers and students through a systematic review of 28 publications (2021–2025), following the PRISMA 2020 protocol. The findings highlight the influence of social, educational, and economic factors, and underscore the need for active methodologies, teacher education, and authentic pedagogical experiences to foster an ethical, inclusive, and transformative entrepreneurial culture.
This study investigates how virtual reality-induced emotional states influence ethical decision makingamong managers and workers. Using controlled virtual reality simulations with real corporate employees, we demonstrate that while this technology significantly modulates emotions, these emotional shifts do not directly alter ethical behavior. The results suggest that emotions alone might not affect (un)ethical behavior linked to organizational roles, challenging assumptions about virtual reality’s capacity to improve ethics through affective induction. These findings highlight virtual reality’s potential for emotional management in firms while underscoring the need for complementary strategies to address systemic or cognitive drivers of unethical conduct.
This study examines how information quality, trustworthiness, effectiveness, and perceived ease of use affect the quality of LinkedIn and Facebook in recruitment. Based on 200 participants over 21, all four factors positively influence site quality, which in turn boosts intent to apply. The findings help employers choose effective SNSs for job postings and offer academic insight into integrating these platforms into recruitment marketing strategies.
Marinas are coastal infrastructures designed for tourist docking, lodging, and services. Their future is at risk, and corporate social responsibility (CSR) strategies can ensure sustainable development. This study analyzes knowledge, intention, and implementation of CSR in 85 Spanish marinas using Partial Least Squares Structural Equation Modeling. Results show lack of knowledge and absent regulations hinder CSR adoption, while economic benefits and stakeholder pressure are not key drivers. Findings offer insights for policymakers and managers to design sustainable strategies.
Artificial intelligence (AI) has gained significant attention since the launch of ChatGPT in November 2022. Since then, discussions and writings regarding various applications and benefits have proliferated. Recent literature suggests that, while the technology has become widely available and offers numerous benefits, its adoption rate has not fully aligned with initial expectations. Thus, it is particularly important to examine the challenges and barriers that are most significant in the adoption of Generative AI. This paper employs quantitative research, consisting of a survey conducted among first-year business students. A total of 314 responses were received. We employed multivariate analysis to explore our central research question: how Innovative Resistance Theory (IRT) applies to the adoption of ChatGPT among future business leaders. IRT was introduced back in 1989, and since then, a considerable amount of quantitative research has confirmed the significance of usage, value, tradition, risk, and image barriers in the adoption of various innovations. Our study, focusing on members of Generation Z, both challenged and extended the theory. Notably, we found that the value and usage barriers were not empirically distinguishable, and the image barrier did not emerge as a significant factor. These findings suggest meaningful deviations from IRT in the context of Gen Z, offering fresh insights into how this emerging workforce engages with disruptive technologies like ChatGPT.
In response to the influx of imported batik cloth, each region is producing distinct fabrics both printed and hand-drawn, leading to heightened competition and affecting the sustainability of small and medium-scale batik businesses (SMEs). Therefore, this study aimed to examine the important role of the skunk work (SW) principle and dynamic capability (DC) in accelerating business innovation and improving performance to enhance the resilience of SMEs. It also addressed an empirical gap by introducing the SW dimension as a driver of innovation and strengthening DC in sustaining SMEs. A total of 876 batik-related SMEs were engaged as part of this study. The SEM-PLS method was used to test the research hypothesis. The results showed that SW was positively correlated with DC while positively related to business model innovation (BMI). Additionally, the DC was found to be positively connected to BMI and further influencing performance. BMI was also positively related to resilience while performance was positively related to the resilience of SMEs. These results outlined the importance of SW and DC in driving innovation within resource-constrained SMEs. The study contributed to market policies and strategies that supported SMEs in leveraging SW, DC, and BMI to achieve sustainable performance.
EXECUTIVE SUMMARY The present study analyses the moderating role of leverage and corporate governance (CG) towards earnings management (EM) practices in response to corporate tax rate (CTR) changes in India. We used a panel of 972 firm-year observations covering 81 non-financial companies listed in NSE from FY 2013-14 to FY 2024-25. The study reveals that firms with leverage and effective CG compliance are relatively conservative in managing their earnings during tax rate changes. Whereas, following the tax cuts in the new tax regime, firms use income-increasing accounting accruals to inflate their earnings. However, even during the tax cuts, firms with better CG mechanisms exhibit lower levels of managerial discretion using accounting accruals. As far as the moderating role of leverage is concerned, levered firms tend to manage their earnings using accruals as well as cash transactions to report higher income and thereby avoid the violation of debt contracts to secure more investments during the new tax regime. Study further reveals that, compared to low CG firms, high CG firms are relatively more conservative in managing their accruals and cash transactions. During the pandemic, managerial discretion using real transactions has reduced due to the shrinkage of business operations, and managers employed current accruals to signal their performance.
Purpose: With the increasing digitalization of hiring processes, attracting top talent through effective use of online platforms has become crucial for organizational success. This study investigates the impact of digital transformation on talent acquisition strategies, focusing on the role of user engagement in online job applications. Design/Methodology/Approach: We employed a qualitative research approach, surveying 200 HR professionals in the Delhi/National Capital Region using a pre-designed questionnaire. Regression analysis was conducted to examine the relationships between specific characteristics of digital media platforms (popularity, ease of navigation, and trust) and individuals' intent to apply for jobs through those platforms. Findings/Results: Our analysis reveals a significant positive correlation between platform characteristics and user engagement. Users are more likely to interact and apply for jobs on platforms that are popular, easy to navigate, and trustworthy. Furthermore, a strong link exists between user engagement and job application intent, demonstrating that engaged users are more likely to submit applications. Originality/Value: This study offers a unique contribution by analyzing the interplay between platform characteristics, user engagement, and job application behavior within the context of digital transformation in talent acquisition. This holistic perspective provides valuable insights for both researchers and practitioners, empowering them to optimize platform design, content creation, and user engagement strategies for effective talent acquisition in the digital age.
The article examines complex and adequate measures that ensure the stability ofbanking institutions during operations with PFIs, taking into account the specifics ofderivative contracts. Reasonable directions for the regulation of banking operations withderivative financial instruments (DFIs) on the financial market through the alignment ofrecommendations on financial stress indices (FSI) and the introduction of a new indicator"the ratio of CDS purchased to gross loans" of commercial banks with the aim of settinga threshold value for it at units or 100%. The proposed indicator creates conditions fora preventive effect on credit and systemic risks that arise when conducting bankingoperations with DFIs. Approaches to assessing the financial stability of banking institutionsare presented and the functional potential of derivative financial instruments at the microand macro-level is revealed. The macroprudential instruments of the over-the-counter DFImarket, which mitigate credit risks when carrying out operations with derivatives, are singledout. The structure of possible limits for limiting risks in banking operations with DFIs wasdetermined and indicative assessment indicators were grouped based on their internallimits.
Rural depopulation represents a significant challenge to the sustainability of family businesses in Spain, especially in regions with population loss and limited economic opportunities. This study analyzes the case of Dulces Sanchidrián, a family business located in Sotillo de la Adrada (Ávila), which has successfully implemented innovation and diversification strategies, but always preserving and promoting tradition. Through a case study methodology, the keys to your business transformation are examined. The results highlight how the combination of tradition and innovation has allowed the company to not only survive but thrive in a changing environment.
This study analyses the experience of flow among applicants of a real gamified recruitment process based on an escape game. It also examines which conditions promote a state of flow among candidates and how this flow state enhances their attitudes and stimulates desirable outcomes for recruiting organizations. The findings show that clear goals, balanced challenges matching applicants’ skills, and continuous feedback promote a state of flow and improve applicants’ attitudes. These factors result in positive reactions, such as recommendation and participation intentions, and enhanced employer reputation.
This study examines how the efficiency of working capital management (WCM) influences shareholder value in Vietnam, an emerging economy where internal capital allocation is critical. A panel of 150 non-financial firms listed on the Hanoi Stock Exchange from 2015 to 2024 is used, with firms classified annually as financially healthy, distressed, or bankrupt using the Altman Z-score. Unlike prior research that treats financial health as a control, it is used as a central focus. WCM efficiency is measured by residual-based metrics, Efficiency of Net Working Capital (ENWC) and Efficiency of Cash Conversion Cycle (ECCC), which account for firm-specific operational factors. Results how that WCM efficiency positively affects shareholder value only in financially healthy firms; no significant relationship is found in distressed or bankrupt firms. This suggests that the benefits of working capital optimization depend on a firm’s capacity to implement these strategies effectively. The study contributes by combining firm-level health segmentation with refined efficiency measures and highlights the enabling role of technology, such as ERP systems and AI tools, in maximizing WCM effectiveness when financial conditions are stable.
This study explores the foundations of building a leading country in education through a comparative analysis of nine European cases, including Finland, Sweden, Norway, Denmark, the United Kingdom, Germany, France, Switzerland, and the Netherlands. Using a qualitative multiple-case framework, the research identifies three core dimensions: equity, quality, and strategic alignment. European systems advance equity through inclusive legislation, targeted resource allocation, and after-school services; ensure quality via diversified structures, high standards in teacher education, and rigorous evaluation; and achieve strategic alignment by fostering innovative and STEM talents to support national development. Despite institutional diversity, these countries display policy coherence and resilience, offering valuable lessons for global education reform. The findings suggest that combining universal principles with localized practices is essential for countries seeking to construct equitable, high-quality, and innovation-driven education systems.
Gen Z, the age cohort born between the years 1997 and 2012, is identified as the most sustainable generation of the 21st century, transforming traditional consumption patterns and driving sustainability. Despite of the comprehensive literature on Gen Z and sustainability, there is a lack of systematic and focused bibliometric studies on sector-specific sustainable behaviour. The study aims to perform a systematic bibliometric analysis of academic literature on Gen Z adoption of sustainability, focusing on tourism, fashion, food, and hospitality. Data was retrieved from the Scopus database, including 2236 publications on Gen Z and 156 on Gen Z and sustainability. The data retrieved from Scopus yielded 2236 English-language articles in the initial search, which were refined to 1440 results based on the document keywords 'Generation Z' and 'Gen Z. Further filtering was done by adding the 'Sustainability' keyword, which narrowed the selection to a final 173 articles. Using VOSviewer software, performance analysis and science mapping were conducted on 173 articles to evaluate publication trends, citation metrics, key authors, influential journals, and keyword co-occurrence networks. The analysis shows an increasing number of publications on sustainability annually. Co-occurrence analysis indicates tourism as a frequently discussed sector, and social media as a substantial thematic node within the Gen Z adoption of sustainability, demonstrating its influence on Gen Z behaviour. Bibliographic coupling reveals that the journal Sustainability (Switzerland) is highly influential, with a significant number of publications and citations. This study provides the first bibliometric analysis of Gen Z adoption of sustainability, highlighting growing academic interest. The results will act as a valuable resource for Industry leaders, policymakers and educators aiming to promote sustainable development practices. Future studies should continue to explore the dynamic interactions between Gen Z and sustainability to enhance sustainable growth and address several emerging trends in the field.
The aim is to identify and analyze factors influencing the successful implementation of ecodesign strategies in the fashion industry. Using the case-study methodology, we analyzed secondary information and semi-structured interviews from two fashion firms: Mango and Bestseller. Internal factors, especially cultural aspects of the firm, internal collaboration, supplier involvement and innovation, are the most relevant for promoting eco-design strategies and they act as critical levers. External factors, such as legislation, cooperation with external agents and customers, play a relevant role but not to the same extent as internal factors. These findings permit to offer a new decision making framework for managers to determine the eco-design strategy.
The article examines complex and adequate measures that ensure the stability of banking institutions during operations with PFIs, taking into account the specifics of derivative contracts. Reasonable directions for the regulation of banking operations with derivative financial instruments (DFIs) on the financial market through the alignment of recommendations on financial stress indices (FSI) and the introduction of a new indicator "the ratio of CDS purchased to gross loans" of commercial banks with the aim of setting a threshold value for it at units or 100%. The proposed indicator creates conditions for a preventive effect on credit and systemic risks that arise when conducting banking operations with DFIs. Approaches to assessing the financial stability of banking institutions are presented and the functional potential of derivative financial instruments at the micro-and macro-level is revealed. The macroprudential instruments of the over-the-counter DFI market, which mitigate credit risks when carrying out operations with derivatives, are singled out. The structure of possible limits for limiting risks in banking operations with DFIs was determined and indicative assessment indicators were grouped based on their internal limits.
This study analyses the flow experience among applicants participating in a real-world gamified recruitment process based on an escape game. It also examines the conditions that facilitate the emergence of a state of flow in applicants, as well as the extent to which this state influences their attitudes and fosters desirable outcomes for recruiting organizations. The findings indicate that the presence of clear goals, balanced challenges matching applicants' skills, and continuous feedback promote a state of flow and improve applicants' attitudes. These factors result in positive reactions, such as recommendation and participation intentions, and enhanced employer reputation.
