International Journal of Business and Society https://publisher.unimas.my/ojs/index.php/IJBS <div style="text-align: justify;"> <p>International Journal of Business and Society (IJBS) is an international scholarly journal devoted to publishing high-quality papers using multidisciplinary approaches with a strong emphasis on business, economics and finance. It is a triannual journal published in April, August and December and all articles submitted are in English. Our uniqueness focus on the impact of the ever-changing world on society based on our niche area of research. IJBS follows a double-blind peer-review process, whereby authors do not know reviewers and vice versa. The journal intends to serve as an outlet for strong theoretical and empirical research and the papers submitted to IJBS should not have been published or be under consideration for publication elsewhere. All manuscripts should be submitted electronically to the Editor-in-Chief (Associate Professor Kartinah binti Ayupp) at <a href="mailto:ijbsce@unimas.my">ijbsce@unimas.my</a>. The soft copy must be at least in Microsoft Office 97 (PC Version).&nbsp; Please make sure it is virus-free.</p> <br>For more information, kindly visit <a href="http://www.ijbs.unimas.my/">http://www.ijbs.unimas.my/</a></div> <div style="text-align: justify;"><img src="/ojs/public/site/images/ojsadm/IJBS3.jpg"></div> <p>&nbsp;</p> <p>&nbsp;</p> Faculty of Economics and Business, UNIMAS en-US International Journal of Business and Society 1511-6670 <p align="justify"><strong>Copyright Transfer Statement for Journal</strong></p> <p>1) In signing this statement, the author(s) grant UNIMAS Publisher an exclusive license to publish their original research papers. The author(s) also grant UNIMAS Publisher permission to reproduce, recreate, translate, extract or summarize, and to distribute and display in any forms, formats, and media. The author(s) can reuse their papers in their future printed work without first requiring permission from UNIMAS Publisher, provided that the author(s) acknowledge and reference publication in the Journal. <br><br>2) For open access articles, the author(s) agree that their articles published under UNIMAS Publisher are distributed under the terms of the CC-BY-NC-SA (Creative Commons Attribution-Non Commercial-Share Alike 4.0 International License) which permits unrestricted use, distribution, and reproduction in any medium, for non-commercial purposes, provided the original work of the author(s) is properly cited. <br><br>3) For subscription articles, the author(s) agree that UNIMAS Publisher holds copyright, or an exclusive license to publish. 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The author(s) must accept the responsibility for releasing their materials upon request by Chief Editor or UNIMAS Publisher. <br><br>6) The author(s) should have participated sufficiently in the work and ensured the appropriateness of the content of the article. The author(s) should also agree that he or she has no commercial attachments (e.g. patent or license arrangement, equity interest, consultancies, etc<em>.</em>) that might pose any conflict of interest with the submitted manuscript. The author(s) also agree to make any relevant materials and data available upon request by the editor or UNIMAS Publisher.</p> Dr. EXAMINING ANTECEDENT FACTORS’ MODERATING AND MEDIATING IMPACTS ON THE RELATIONSHIPS BETWEEN CUSTOMERS’ INTRINSIC MOTIVATIONS, ENGAGEMENT AND VALUE CO-CREATION BEHAVIORS IN MOBILE BANKING SERVICE https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8036 <p>Purpose – Grounded on the Stimulus-Organism-Response (SOR) theory, service-dominant logic and self-determination theory (SDT) model, this research aims to examine the impacts of customers’ intrinsic motivations (CIM) on customer engagement (CE) and customer value co-creation behaviors (CVCB) under Chinese mobile banking (M-banking) context. This research also adopted generational theory (GT) to rationalize whether such the above intricate relationships varied among Chinese customers from different generation cohorts.</p> <p>Design/methodology/approach – Survey data were collected from a total of 680 Chinese M-banking users from 29 provinces and regions in China. This research utilized structural equation modeling (SEM) and path analysis approaches to examine the proposed research framework.</p> <p>Findings – The study findings revealed that Chinese M-banking users’ CIM had positive impacts on CE and CVCB, although CIM did not exerted significant direct effect on CVCB, it did indirectly influence CVCB via CE, which validated CE’s mediation effect on the relationship between CIM and CVCB. Moreover, study results revealed that generational differences’ moderation effect was only significant on the relationship between CE and CVCB.</p> <p>Originality/value – The research finding offered added evidence that extends the knowledge from prevailing research regarding CVCB in Chinese M-banking settings, which has been untapped in marketing literature.</p> <p>Practical implications – Because intrinsic motivation serves an essential role in determining customers’ engaging and value co-creation behaviors in M-banking service, policy makers including Chinese banks’ management and government should design M-banking service that motivates customers’ intrinsic desires and meets distinctive needs from various generation groups, so as to attract and maintain customer under Chinese cultural context.</p> Fei Lu Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 704 729 10.33736/ijbs.8036.2025 The Impact of Last-Mile Delivery Logistics Service Quality Factors on Customer Loyalty: The Case of Online Shopping in the Mekong Delta Region https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8294 <p>In recent years, the importance of last-mile delivery has surged, making it a key factor in the growth of online shopping. This study investigates how logistics service quality impacts customer loyalty within the online retail sector in the Mekong Delta. The quality of last-mile delivery services significantly shapes customers' perceived value, influencing their satisfaction and loyalty. Using qualitative and quantitative methods, the research collected data from 414 customers with online shopping experiences. The analysis identified key logistics service quality factors such as delivery time, reliability, delivery costs, and delivery staff—that positively impact customer perceived value. However, the return rate factor was found to negatively affect customer perceived value. These logistics service quality dimensions collectively impact customer perceived value, which in turn affects customer satisfaction and loyalty in last-mile delivery processes. This study enriches the theoretical understanding of service quality in last-mile delivery while offering practical recommendations to enhance sales and logistics systems within the supply chain. Based on the findings, the study suggests that online retailers should improve customer notifications, establish stringent quality control, implement flexible return and exchange policies, and collaborate with reliable shipping partners. By focusing on these areas, retailers can build greater trust, satisfaction, and loyalty among customers. These improvements not only enhance the logistics service quality but also strengthen the competitive position of retailers in a rapidly evolving market.</p> Chuyen Tran Trung Trinh Phan Tran Xuan Huy Tran Thanh Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 793 805 10.33736/ijbs.8294.2025 Everyday Precarities and Systemic Exploitations: Indonesian Migrant Workers in Sarawak's Palm Oil Industry https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8457 <p>The Malaysian palm oil industry is a cornerstone of the nation’s economy, yet it faces a critical labour shortage, particularly in Sarawak, exacerbated by the COVID-19 pandemic and migration barriers. A significant portion of the workforce in Malaysia’s palm oil plantations comprises Indonesian migrant workers, many of whom are undocumented. This study explores the role of undocumented Indonesian migrant labour in addressing the labour shortages in Sarawak's palm oil sector, focusing on the systemic challenges these workers face. Through in-depth interviews with 15 undocumented migrant workers and 5 key informants, this qualitative research highlights the legal, social, and economic vulnerabilities that contribute to exploitation and poor working conditions. The study reveals the complexity of migration patterns, the predominance of male workers in physically demanding roles, and the exploitation facilitated by undocumented status. Additionally, the research uncovers the gendered divisions of labour that limit women’s participation in core plantation tasks. The research contributes to a deeper understanding of the systemic challenges facing the palm oil industry in Sarawak and underscores the need for policy reforms to protect migrant workers’ rights and improve labour conditions. By focusing on Sarawak, this study adds a critical perspective to the broader discourse on migrant labour in Malaysia, particularly in regions often overlooked in existing literature.</p> VILASHINI SOMIAH Haslina Hashim AISHAH MUTMAINNAH KHAIRUL ANNUAR FARAH IZZATI HANIP Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 407 424 10.33736/ijbs.8457.2025 MAPPING TRENDS IN INFORMATION ASYMMETRY RESEARCH: A BIBLIOMETRIC STUDY https://publisher.unimas.my/ojs/index.php/IJBS/article/view/7152 <p>This study conducts a comprehensive bibliometric analysis of information asymmetry research from 1979 to February 2024, focusing on subject areas within Economics, Econometrics, and Finance; Business, Management, and Accounting; and Social Sciences. Utilizing tools such as biblioMagika, OpenRefine, VOSviewer, and Microsoft Excel, we examine the publication landscape, identify prolific contributors, and highlight influential journals and highly cited documents. Key findings reveal the dominance of the United States in both quantity and impact of publications, with notable emerging contributions from countries like China. Journals such as the Journal of Accounting and Economics and Economics Letters are pivotal sources for information asymmetry research. The co-occurrence analysis uncovers core themes such as adverse-selection costs, signalling, and corporate governance. Temporal analysis indicates a shift towards topics like investment efficiency and firm value in recent years. This study also identifies research gaps, suggesting opportunities for future studies to address underexplored areas. Overall, this research provides a foundational understanding of information asymmetry, guiding future scholarly inquiries and practical applications.</p> AHMAD SYUBAILI MOHAMED Norman Mohd Saleh Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 446 464 10.33736/ijbs.7152.2025 The Impact of Perceived Training Effectiveness on Innovative Work Behavior in Work-Based Learning Programs: A longitudinal Quasi-Experimental Study https://publisher.unimas.my/ojs/index.php/IJBS/article/view/7888 <p>This study aims to investigate the relationship between perceived training effectiveness and innovative work behavior within the context of work-based learning programs. Using a separate-sample pretest-posttest quasi-experimental design, the study compared IWB across three groups: (1) a pre-training/control group; (2) a post-training group – filled the survey immediately after the training completion; and (3) a follow-up group – filled the survey after a period of 3-12 months from their training completion. Data from 461 participants (227 pre-training, 126 post-training, and 108 follow-up) were analyzed using ANOVA and correlational methods. Results revealed a statistically significant increase in IWB from pre-training to follow-up, but not from pre-training to post-training. Additionally, a positive correlation emerged between perceived training effectiveness and IWB at both post-training and follow-up stages. These findings contribute to the understanding of training program effectiveness in enhancing IWB, highlighting the importance of well-designed WBL programs and the potential for delayed behavioral change.</p> Salim Al Khaldi Alexandre Bachkirov Shahid Rasool Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 465 489 THE EMPIRICAL EXAMINATION OF VALUE CREATION CRITERIA: ACHIEVING CONSENSUS USING DELPHI EXERCISE WITHIN SERVICE INDUSTRY https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8139 <p>Businesses are realising the strategic significance of customer participation in value creation in an increasingly competitive market environment. However, there is still little empirical study on the precise contributions made by customer experts to value creation, despite the increased interest in customer interaction. This paper aims to provide recommendations on the value creation criteria covering financial and non-financial dimensions, based on the consensus reached from the Delphi Exercise involving customer experts who possess in-depth knowledge of services. Delphi exercise is a systematic procedure to elicit expert opinion where the intended outcome is to attain a decisive consensus within the appointed panel of experts. Nine panel members of experts were involved in the Delphi exercise until a consensus or agreement was reached in the third round. Findings indicate that there are several new items agreed upon by the panel members for both financial and non-financial dimensions. The findings, add to the expanding corpus of research on consumer involvement in value creation and companies' opportunities to improve their interactions with customer experts. This also contributes to SDG 8(Economic Growth and Decent Work) in boosting productivity, innovation and employment in the service industry.</p> Suzila Mohamed Yusof Sofiah Md Auzair Amizawati Mohd Amir Norida Basnan Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 613 645 10.33736/ijbs.8139.2025 Exploring thriving at work: a systematic literature review and future research directions https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8367 <p>This systematic literature review provides a comprehensive examination of thriving at work, a construct characterized by its dual dimensions of vitality and learning, which signify employees’ psychological well-being and capacity for growth. Synthesizing research from the past 15 years, it identifies individual-level antecedents like emotional intelligence, job crafting, and resilience, while organizational factors such as leadership style, support systems, and work environments also play critical roles. The review demonstrates that thriving enhances individual outcomes, such as job performance, well-being, and innovation, while bolstering organizational effectiveness through adaptability and team cohesion. Drawing on theoretical frameworks like the socially embedded model of thriving, self-determination theory, this study proposes a robust framework for understanding thriving at work. It identifies critical research gaps, such as the need for cross-cultural and longitudinal studies, as well as investigations into digital work settings, offering actionable insights for fostering thriving through inclusive leadership and supportive organizational practices.</p> Yu Zhao Norhafizah Abu Hasan Rasidah Arshad Nur Atiqah Abdullah Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 646 667 10.33736/ijbs.8367.2025 The Role of Digitalization and Digital Capabilities in Financial Performance: A Multilayer Perceptron-Based Hybrid SEM-ANNs Approach https://publisher.unimas.my/ojs/index.php/IJBS/article/view/7878 <p>This study aims to examine how different aspects of digitalization and digital capabilities affect financial performance of SMEs. The study employs a deductive approach, collecting data through questionnaires from 396 respondents and utilizing structural equation modeling and artificial neural networks analysis to empirically evaluate the proposed model. The results emphasize the importance of digital transformation, digital innovation, and digital servitization in enhancing the financial performance of SMEs by optimizing processes, reducing operational expenses, and improving customer engagement. Moreover, the research highlights the critical role of digital capabilities (encompassing human, technical, innovation and collaboration capabilities) in facilitating these improvements. Notably, human and innovation capabilities emerge as the most influential factors, demonstrating that a skilled workforce and robust innovative capacity are vital for converting technological investments into tangible financial benefits. This study advances resource-based view theory by examining how digital technologies and capabilities act as vital resources that boost the financial performance of SMEs. By integrating linear with non-linear methods, the research offers a detailed analysis of how digital resources contribute to competitive advantage. The study recommends targeted policies, including financial incentives, digital literacy programs, and innovation hubs, to align technology with SME business needs and foster growth, competitiveness, and sustainability.</p> Muhammad Rizwan Ullah Safdar Husain Tahir Muhammad Ahmed Muhammad Jamil Khan Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 548 569 10.33736/ijbs.7878.2025 DETERMINANTS OF OUT-OF-POCKET HEALTH EXPENDITURE FOR OUTPATIENT TREATMENT FOR CHILDREN UNDER 5 YEARS IN BANGLADESH https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8077 <p style="font-weight: 400;">The healthcare financing system in Bangladesh is predominantly characterized by out-of-pocket (OOP) health expenditure. However, despite the implementation of a strategy designed to alleviate this issue, OOP health expenditures continue to rise. This study aims to analyze the determinants of OOP health expenditure for ill children under 5, utilizing data from the Bangladesh Household Income and Expenditure Survey, 2016. The data indicate that 68.58% of the total OOP health expenditure is allocated to the purchase of medication. The ordinary least squares (OLS) method is employed to examine the factors influencing OOP health expenditure. The key findings indicate that OOP health expenditure for seeking outpatient care for female children is lower than that for male children, and children residing in urban areas are associated with higher OOP expenditure compared to those in rural areas. Additionally, the age of the child, type of illness, type of healthcare provider, delayed treatment, and sources of medicine significantly impact OOP health expenditure. Addressing these issues requires government intervention to reduce discrimination and regulate the price of medicine. It is also noteworthy that OOP health expenditure for children whose mothers have an income is lower, which warrants further investigation.</p> Shahnaz Haque Saidatulakmal Mohd Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 490 510 10.33736/ijbs.8077.2025 DRIVING PERFORMANCE IN RETAIL SMES: THE ROLES OF ENTREPRENEURIAL ORIENTATION, TOTAL QUALITY MANAGEMENT, AND KNOWLEDGE MANAGEMENT https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8316 <p>This paper seeks to analyze how entrepreneurial orientation (EO), total quality management (TQM), and knowledge management (KM) affect organizational performance (OP) in SMEs in Thailand’s retail sector. The research used a structured questionnaire to collect data from business owners and senior managers in retail SMEs, such as convenience stores, traditional shops, and supermarkets. The sampling method was proportional stratified random sampling to ensure fair representation across different business types and regions. A total of 353 SMEs participated in the study. The questionnaire measured EO, TQM, KM, and OP using a 5-point Likert scale and included basic demographic questions. The questionnaire was examined for validity and reliability concerning content, convergent, and discriminant validity, as well as item and scale reliability, prior to the data analysis phase. The data were analyzed using covariance-based structural equation modeling (CB-SEM) to reach the primary objectives of the study. The results showed that EO positively impacts TQM, KM, and OP. TQM improves KM and OP, and KM also strongly influences OP. This study highlights the importance of EO, TQM, and KM for improving business performance. It gives practical ideas for SME owners to stay competitive and adapt to the fast-changing retail market.</p> Pimphaphat Honthaisong Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 511 529 10.33736/ijbs.8316.2025 SOCIAL SECURITIES SCHEME, FINANCIAL INCLUSION, AND ITS IMPACT ON POVERTY ALLEVIATION IN INDONESIA: CASE OF ZAKAT RECIPIENT https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8887 <p style="font-weight: 400;">This study examines the impact of social security’s programs, and financial inclusion on poverty alleviation and household consumption in Indonesia. The samples of this study is 2835 zakat recipient in 25 of 34 provinces in Indonesia. Using panel regression analysis, the research explores key variables, including the Family Welfare Deposit <em>(Kartu Keluarga Sejahtera, </em>KKS<em>)</em>, Family Hope Program (<em>Program Keluarga Harapan</em>, PKH), Non-Cash Food Assistance (<em>Bantuan Pangan Non-Tunai</em>, BPNT), Social Health Insurance (ASKES), and financial inclusion indicators such as bank account ownership, mobile phone usage, and digital payment adoption. The findings reveal that PKH and BPNT significantly reduce poverty, and promoting total household consumption. It revealed their effectiveness in addressing immediate needs and improving welfare. Financial inclusion variables, particularly mobile phone usage and digital payments, also show positive effects on consumption but mixed results on poverty measures, suggesting the need for broader accessibility and digital literacy. Comparisons with prior studies underscore the consistency of social protection programs as tools for poverty eradication, while emphasizing the complementary role of financial inclusion in fostering long-term economic resilience. The study recommends enhancing digital financial services, expanding the coverage of social protection programs, and especially integrating with Kampung Zakat program as sustainable strategies to strengthen their impact on poverty alleviation and economic development.</p> Jaenal Effendi Abdul Qoyum Imas Hasanah Uum Munawaroh Hassanudin Mohd Thas Thaker Mosharrof Hosen Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 690 703 10.33736/ijbs.8887.2025 MOTIVATION FOR OVERSEAS TRAINING AMONG CHINA UNIVERSITY TEACHERS' - A SDT MODEL ANALYSIS https://publisher.unimas.my/ojs/index.php/IJBS/article/view/7544 <p style="font-weight: 400;">The Belt and Road Initiative has presented both opportunities and challenges for China and countries along its route. Despite policy efforts aimed at promoting international development by government and university, there remains a lack of enthusiasm among Chinese university teachers for participation in internationalisation efforts. The phenomenon of weak response is aimed at uncovering the expectations and key factors that influence a teacher's decision to join overseas programmes, as well as determining the actual impact of cross-cultural training on teachers. Based on the self-determination theory, this thesis uses qualitative research to investigate the motivations of international training on academics at the higher education in China. Qualitative interviews were conducted with 27 university teachers who have received or are undergoing overseas training to reinforce the impact of cross-cultural training on their professional growth. Competence, autonomy, relatedness, and satisfaction shape motivation within a supportive environment that meets expectancy and basic psychological needs, in line with expectancy-value theory and self-determination theory principles. This study also hopes to provide a reference for talent training in other universities and point out the direction for further studies by future researchers.</p> Norizan Jaafar Junhao Chen Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 425 445 10.33736/ijbs.7544.2025 INNOVATING PAYMENTS SUSTAINABLY https://publisher.unimas.my/ojs/index.php/IJBS/article/view/7963 <p>Despite its potential, FinTech payments have not yet become the mainstream payment method. Traditional card and cash are still preferred over FinTech payments globally, including in Malaysia.</p> <p>This study aims to investigate the factors driving the usage of FinTech payments in Malaysia based on the Unified Theory of Acceptance and Use of Technology (UTAUT), meta UTAUT, and the Value-based Adoption Model (VAM) covering multiple perspectives of system properties, individual characteristic, and external environment. A total of 546 responses were collected from 13 states in Malaysia using a stratified random sampling technique and analysed using the PLS-SEM approach.</p> <p>The findings suggest effort expectancy, social benefit, openness to change, and attitude are significant determinants of intention. Attitude is found to mediate the relationship between performance and effort expectancy, economic and social benefit, regulatory support, openness to change, and intention. However, social influence, security, and privacy risk did not impact attitude and intention.</p> <p>To the best of our knowledge, this is the first study integrating UTAUT, meta-UTAUT, and VAM to explain this issue. By combining multiple theories into one comprehensive framework, it provides valuable insights for developing strategies to promote greater adoption of these technologies.</p> Hui Chen Ng Muzafar Shah Habibullah Resul Sapar Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 590 612 10.33736/ijbs.7963.2025 AN EMPIRICAL EXAMINATION OF BANKS IN THE ASIA-PACIFIC: UNRAVELING THE NEXUS BETWEEN ESG, PROFITABILITY, AND STABILITY https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8198 <p>Banks' ESG issues are gaining traction and public attention following the Paris Agreement 2015. As a result, many researchers are currently examining the influence of ESG pillar practices on banks' financial performance and stability. However, these results seem far from conclusive. Therefore, continuous studies need to be carried out. The objective of this research is to investigate the impact of ESG initiatives implemented by banks on their profitability (ROA, ROE, and Tobin's Q) and financial stability (Z-Score(CAR) and Z-Score(EQTA)). Using a set of unbalanced panel data of 178 commercial banks from 12 countries in the Asia Pacific region, spanning from 2013 to 2022, this study performs panel regression analysis to explore the ESG and bank profitability and bank stability links. Our research findings support stakeholder theory and the resource-based view (RBV) as explanatory frameworks for connecting ESG pillars and bank profitability and financial stability. These include banks' environmental, social, and governance measures enhancing profitability and stability. The results are robust across different models and settings (e.g., ESG pillars vs. dimensions, different financial performance and financial stability proxies, and lagged ESG pillars and dimensions in the model).</p> Arum Setyowati Tastaftiyan Risfandy Wahyu Trinarningsih Anton Agus Setyawan Muzakar Isa Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 750 771 10.33736/ijbs.8198.2025 UTAUT MODEL THE ADOPTION OF AUGMENTED AND VIRTUAL REALITY TECHNOLOGIES IN THE CONTEXT OF THE UTAUT MODEL AND BEHAVIORAL INTENTION https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8443 <p>The purpose of this study is to examine the adoption of augmented reality (AR) and virtual reality (VR) technologies in the context of the Unified Technology Acceptance and Use Model and behavioral intention. The research aims to assess medical students' perceptions of AR and VR technologies, focusing on the effects of the COVID-19 pandemic. AR and VR are considered to have significant potential in mitigating the negative effects of the pandemic. The population of the study consists of students studying at medical faculties in Turkey. As a result of the tests, it was determined that performance expectancy, effort expectancy, facilitating situations and hedonic motivation have a positive effect on attitude. However, it was determined as a result of the analysis that social influence and habit did not have any effect on attitude. On the other hand, it was also determined that attitude has a positive effect on behavioral intention.</p> Sinan ÇAVUŞOĞLU Kazım Dağ Ferhat Aslan Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 668 689 10.33736/ijbs.8443.2025 EARNING DOWNSIDE RISK AND THE SIGNIFICANCE OF ESG PERFORMANCE IN THE PRIMARY ECONOMIC SECTOR https://publisher.unimas.my/ojs/index.php/IJBS/article/view/7882 <p>This study explores the impact of corporate sustainability measured by environmental, social, and governance (ESG) performance on earning downside risk (EDR). We focus on the role (of ESG) performance in moderating firms' earning downside risk (EDR), especially in uncertain economic times. The economic uncertainty is evidenced by the recent global crisis of COVID-19. We conducted a multivariate regression analysis by utilising a large dataset from Refinitiv, covering 48 countries over fourteen years. Our findings revealed a significant negative association between ESG performance and EDR, suggesting that higher ESG performance correlates with reduced accounting downside risk. The analysis further demonstrates that environmental and social components of ESG, closely aligned with the United Nations Global Compact Core Principles, play a crucial role in mitigating the adverse impact of the COVID-19 crisis, particularly in the primary economic sector. These results provide novel insights into the importance of sustainable practices in enhancing corporate resilience during times of global economic uncertainty.</p> Norhidayah Abu Bakar Norizan Remli Juliana Arifin Farah Roslan Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 570 589 10.33736/ijbs.7882.2025 Towards A Sustainable Growth: How Environmental, Social And Governance (ESG) Factors And Firm Attributes Drive Financial Success In The FTSE4G Bursa Malaysia Firms. https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8100 <p>In recent years, there has been growing interest in the integration of environmental, social and governance (ESG) factors into investment decisions and assessing firm performance. This study examines the impact of ESG factors and firm characteristics on financial performance of 96 firms listed on FTSE4G Bursa Malaysia between the years 2014 and 2022. The study applies four models using the integration of accounting-based measurements, namely, net profit margin, return on assets, return on equity, and Tobin’s q. This study yielded mixed findings. Firstly, it revealed a positive relationship between ESG factors and financial performance, which was measured using Tobin’s q. Nevertheless, the impact of ESG factors on net profit margin, return on assets and return on equity are insignificant. This indicates the increased importance of ESG factors in the process of making investment decisions and assessing the value of the market. Furthermore, Tobin’s q possesses a distinctive characteristic as it measures a company’s market value relative to traditional financial performance metrics. Secondly, the study found that the impact of ESG factors is minimal on financial performance, including Tobin’s q. It indicates there are potential trade-offs between short-term financial impact and long-term ESG goals in the firm. This study suggests that firms should be incentivised to integrate corporate strategy and investment decisions.</p> RUHAINI Harisa Nabila Rohisyam Nur Amirah Borhan Hidayahtul Khusna Abdul Malik Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 530 547 10.33736/ijbs.8100.2025 THE INFLUENCE OF OIL PRICE FLUCTUATIONS AND MACROECONOMICS CONSEQUENCE ON DEFENSE EXPENDITURE IN AFRICAN OIL-RICH COUNTRIES https://publisher.unimas.my/ojs/index.php/IJBS/article/view/8364 <p>The purpose of this study is to examine the cointegration and causal directions between oil price fluctuations and macroeconomic consequences on military expenditure in countries that are rich in oil. The study incorporated heterogeneous panel estimations and data from 1980 to 2022. The empirical evidence shows that real oil prices have a significant and positive impact on military expenditure in the long run, and there is a causal relationship between real oil prices and military expenditure. The long run military expenditure in African oil-exporting countries is positively affected by real oil prices, according to empirical evidence. The SLM test revealed a U-shaped pattern for these oil-exporting countries, which suggests that their military expenditures are heavily influenced by GDP over time. Policymakers should prioritize utilizing oil revenues for healthcare, education, and infrastructure instead of excessively spending on defense industries. This study seeks to bridge the knowledge gap by studying the impact of oil prices on the military budgets of these nations.</p> Ahmed Kroso Nanthakumar Loganathan Yogeeswari Subramaniam Tirta Nugraha Mursitama Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 730 749 10.33736/ijbs.8364.2025 DO POLITICAL CONNECTIONS MITIGATE THE DETRIMENTAL EFFECT OF EARNINGS MANAGEMENT? EVIDENCE FROM COST OF DEBT https://publisher.unimas.my/ojs/index.php/IJBS/article/view/9644 <p>This study investigates the conditional impact of political connections on the association between earnings management and the cost of debt. The underlying framework refers to resource dependence and agency perspectives. The sample consists of non-financial firms listed on the Indonesia Stock Exchange from 2010 to 2020. We find a positive relationship between earnings management and cost of debt. Political connections mitigate the adverse impact of earnings management by US$0.766 million in interest paid, consistent with the resource dependence perspective. Additional tests indicate that the mitigating effect of political connections is more pronounced in firms experiencing inferior financial performance, establishing connections to higher-ranking politicians, and securing debt solely from bank loans. Lastly, we document that debtholders are less likely to detect real operations-based earnings management in their lending assessments. Our findings are robust to alternative measure of earnings management and political connections and different estimation methods to address endogeneity concerns.</p> Muhammad Agung Prabowo Sutaryo Sutaryo Anis Widjajanto Salim Al Idrus Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-08 2025-09-08 26 2 806 824 10.33736/ijbs.9644.2025 Exploring impact of Transformational Leadership, Engagement, and Commitment on Organizational Citizenship Behavior: Evidence from Indonesian Labor Unions https://publisher.unimas.my/ojs/index.php/IJBS/article/view/7834 <p><em>The purpose of this study is to examine the impact of Transformational Leadership (TL) on Organizational Commitment (OC), Organizational Engagement (OE), and Organizational Citizenship Behavior (OCB) in Indonesian labor unions. The study uses a quantitative approach, with a sample of 126 Indonesian labor union members. Data examined using structural equation modeling (SMART-PLS) According to the results, TL increases OC and OE among workers of labor unions but has no direct influence on OCB. OC neither acts as a mediator between TL and OCB nor has any significant impact on OCB. OE, however, emphasizes the need of involvement in fostering citizenship behaviors inside the organizational environment since it serves as a vital mediator in the connection between TL and OCB. The results suggest that labor union leaders should concentrate on strategies to increase organizational participation since this is essential for the development of OCB. While trying to improve voluntary, citizenship-like behavior among members, leaders should also take into account company culture and peer influence in view of the different impact of TL. In the framework of labor unions, this study clarifies the complex interactions among leadership, dedication, involvement, and citizenship behavior. It highlights TL's indirect influence on OCB by OE and offers understanding of collective organization leadership strategies.</em></p> Luthfi Firdaus Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 772 792 10.33736/ijbs.7834.2025 DISTRIBUTIVE JUSTICE’S DIRECT AND INDIRECT LINKAGES TO TURNOVER INTENTION: A STRUCTURAL EQUATION MODELLING APPROACH https://publisher.unimas.my/ojs/index.php/IJBS/article/view/10681 <p>This study examines the factors that influence turnover intention among public doctors in Malaysia, which is crucial for achieving universal health coverage. Drawing from Equity Theory, Social Exchange Theory, and the concept of reciprocity, a conceptual model is proposed in which distributive justice is hypothesised to affect turnover intention both directly and indirectly through the mediating of organisational citizenship behaviour. Furthermore, the study proposes that positive reciprocity moderates the relationship between distributive justice and organisational citizenship behaviour, while negative reciprocity moderates the link between distributive justice and turnover intention. A cross-sectional survey was conducted among 380 public doctors selected through proportionate stratified random sampling in the Klang Valley region of Malaysia, using a self-administered questionnaire survey. Structural equation modelling revealed that distributive justice inversely impacts turnover intention both directly and indirectly through the partial mediation of organisational citizenship behaviour. Additionally, positive reciprocity strengthened the positive association between distributive justice and organisational citizenship behaviour, while negative reciprocity did not significantly moderate the distributive justice-turnover intention relationship. The findings underscore the importance of fostering distributive justice, organisational citizenship behaviour, and positive reciprocity norms to mitigate turnover intention among Malaysian public doctors, thereby supporting broader efforts to achieve universal health coverage.</p> Ahmad Rafeein Mohamad Kalsom Ali Khairunneezam Mohd Noor Copyright (c) 2025 UNIMAS Publisher http://creativecommons.org/licenses/by-nc-sa/4.0 2025-09-01 2025-09-01 26 2 386 406 10.33736/ijbs.10681.2025