Financial Strategies Research Articles

Security dimension of zakat: Strengthening Islamic education, mitigating social unrest, and promoting sustainable communities

This study investigates the multifaceted role of zakat in promoting not only poverty alleviation but also communal security, social stability, and sustainable community development. The research aims to expand the traditional understanding of zakat by highlighting its potential to address economic disparities and foster social cohesion. Employing a qualitative research design and secondary data analysis, the study systematically examines existing literature to assess the broader social and economic impacts of zakat. The findings demonstrate that effective zakat management can significantly mitigate social unrest by alleviating poverty, reducing unemployment, and addressing economic inequalities. Moreover, the study underscores the pivotal role of Islamic education in enhancing zakat's impact. By equipping recipients with financial literacy, entrepreneurial skills, and investment strategies, Islamic education enables sustainable resource management and economic empowerment. The research concludes that zakat, when combined with targeted educational interventions, can serve as a powerful tool for fostering financial security and communal peace. By integrating these approaches, zakat has the potential to become a catalyst for long-term social stability and the development of resilient, self-sustaining communities.

Addressing Stillbirth: Exploring Economic Status, Government Strategies, and Gaps.

Stillbirth rates exhibit a strong correlation with a country's economic level, suggesting the significant impact of socioeconomic factors on maternal and fetal health. Various risk factors for stillbirth have been identified in high-, low- and middle-income countries, but the widening economic inequity between different nations results in discrepant etiologies of stillbirth. The emotional impacts of stillbirth affect not only the birthing person, but also the reproductive partner, family, and community due to the enduring pain and grief associated with the loss. Herein, we review the existing government strategies and the limiting factors in implementing these plans across high-, middle-, and low-income countries and discuss possible ways to prevent stillbirth. Furthermore, we have mentioned various factors that are directly and indirectly associated with the national economic status and the possible ways to intervene in the rising stillbirth rate. We also discussed the additional psychological burden that arises from the financial crisis among people in low- and middle-income countries. While global strategies are being implemented to attain a single-digit stillbirth rate by 2030, underreporting of the incidence of stillbirth cases remains a major threat to the achievement of this goal. Standardizing guidelines for reporting and recording stillbirth cases will effectively help in achieving global targets. Financial incentive schemes along with the existing strategies will significantly reduce the stillbirth rates in nations.

A Case Study of Financial Integration in Cross-Border Mergers and Acquisitions

This paper focuses on the financial integration strategies used by Microsoft and Tesla in recent cross-border mergers and acquisitions (M&As), with a particular focus on their acquisitions of Nuance Communications and Maxwell Technologies, respectively, and analyzes and highlights the importance of strategic financial integration in achieving synergies, managing goodwill, and navigating regulatory and cultural complexities. For Microsoft, the acquisition of Nuance was intended to enhance its artificial intelligence capabilities in healthcare and enterprise services, while Tesla's acquisition of Maxwell was intended to secure a key technological advantage in electric vehicle (EV) battery production. In addition, both companies faced a range of challenges in aligning financial systems, managing cost structures, and ensuring compliance with international regulatory standards. Drawing on relevant literature to contextualize the case studies, this paper discusses how such companies conducted financial integration and how their experiences may impact future cross-border M&A transactions. The findings suggest that financial integration is critical to maximizing value in cross-border M&As, and that effective management of this process plays an important role in the long-term success of the firm.

Understanding Vasectomy Services’ Models of Care, Training, and Financing Among Title X Family Planning Providers

Background and Objective: Recent evidence suggests an increased demand for vasectomies following the Supreme Court’s Dobbs v. Jackson Women’s Health Organization overturning Roe v. Wade. Limited published information on vasectomies provided by publicly funded agencies exists. This study seeks to understand and document vasectomy services in Title X Family Planning health centers, including models of care, provider training, and financial strategies. Methods: We held qualitative interviews with 22 Title X organizations. Through an iterative, thematic analysis, our research team coded the data to produce findings illustrating the landscape of vasectomy service provision in Title X Family Planning health centers. Results: This qualitative research study indicated 3 central components of vasectomy care in publicly funded Title X clinics: models of care, finance models, and provider training. Individual approaches varied considerably depending on organization size, funding, provider types, and policy climate. Conclusions: This study confirms that a host of barriers exist to providing vasectomy services in publicly funded or “safety net” clinics, including: (1) Limited opportunities for provider training, (2) federal and state 30-day waiting periods for informed consent, and (3) low reimbursement rates. The study informs options for addressing these barriers in publicly funded settings.

Capital structure specificity in knowledge-intensive industries: A comparative study of EU countries

PURPOSE: This paper aims to examine and compare the capital structure patterns and financial decision-making determinants of knowledge-based firms and traditional industries in selected EU countries over the period 2000–2023. The study seeks to uncover sector-specific features, focusing on the unique financial behaviors of knowledge-intensive enterprises compared to their traditional counterparts. It also explores how factors such as asset structure, profitability, and growth opportunities influence capital structure decisions within these industries, thus providing implications for financial management in innovation-driven sectors. METHODOLOGY: The methodology involves analyzing data from 12 EU countries, categorized by industry (sectors M and J for knowledge-based firms and other sectors for traditional firms) and firm size. The research applies panel data modeling to evaluate the differences and influences on capital structure within these groups. FINDINGS: The study reveals that knowledge-based firms exhibit distinct capital structure characteristics, including a higher reliance on intangible assets and lower ratios of long-term debt compared to traditional firms. Specifically, the findings indicate that intangible assets are positively correlated with total and long-term debt in knowledge-based firms, meaning that an increase in intangible asset value is associated with a corresponding increase in total and long-term debt levels. This relationship aligns with the modified pecking order theory, which posits that firms prioritize funding sources based on their perceived cost and risk. The determinants of capital structure – such as profitability and growth opportunities – also demonstrate differing impacts, revealing the unique financial strategies employed by knowledge-based firms. IMPLICATIONS: This research highlights the importance of adapting financial strategies to the specific needs of knowledge-based firms, which often face unique challenges due to their reliance on intangible assets. Policymakers can use these findings to design targeted financial policies that support the growth and sustainability of innovation-driven enterprises, such as by offering incentives for intangible asset financing or by reducing barriers to accessing long-term debt. For practitioners, the insights highlight the need to align financial decision-making with sector-specific characteristics to optimize capital structure and drive competitive advantage. ORIGINALITY AND VALUE: This research makes a unique contribution by providing one of the first comparative analyses of capital structure determinants across knowledge-based and traditional firms in multiple EU countries over an extended timeframe (2000–2023). Unlike prior studies, which often focus on individual sectors or countries, this study offers a comprehensive and cross-sectoral perspective, enriching the understanding of how financial theories operate in diverse economic and institutional contexts. By addressing the financial behaviors of knowledge-intensive firms, the research bridges a critical gap in the literature and informs both academia and practice.

Toward Digital Transformation: Insights into Chinese Cross-Border E-Commerce SMEs During the COVID-19 Pandemic and the Post-Pandemic Era

The pandemic and its restrictions have forced businesses to rethink their strategies and daily operations. The originality of this research lies in assessing the unique challenges cross-border e-commerce Small and Medium Enterprises (SMEs) faced during the pandemic and the strategies they developed to survive. This study also explores the novel practices that emerged during the same period and the digital transformation of these SMEs. Data were gathered through interviews, observation, and questionnaires from 104 cross-border e-commerce SMEs based in China. The study used thematic analysis and descriptive statistics to interpret data. Qualitative Comparative Analysis (QCA) was also used to obtain insights into the configurations of resilience strategies leading to SMEs’ digital transformation. Findings show that cross-border e-commerce SMEs suffered financially during the pandemic. In addition, they faced marketing, logistics, and supply chain challenges. However, they developed various strategies to cope with those challenges and survive in a period of uncertainty. This research suggests a new business model of cross-border e-commerce based on SMEs’ novel practices and configuration strategies to obtain digital transformation. Cross-border e-commerce SMEs should upgrade their marketing, financial, supply chain, and logistics strategies based on the findings of this study. They should leverage technology, diversify their supply chain, adopt online marketing strategies, focus on customer service, optimize their cash flow, and explore new markets.

Financial Risks and Management Strategies in Enterprise Mergers and Acquisitions: The Case of Tencent's Acquisition of Supercell

Financial Risks and Management Strategies in Enterprise Mergers and Acquisitions: The Case of Tencent's Acquisition of Supercell

Modelling the interactions between project payment systems, financial management strategies, and construction companies’ performance

Modelling the interactions between project payment systems, financial management strategies, and construction companies’ performance

Effectiveness analysis of largest financial inclusion schemes in India

Effectiveness analysis of largest financial inclusion schemes in India

Risk analysis of PPP financing for toll road project

The Indonesian Government has limited funds to provide infrastructure facilities for its population of 261 million people, which requires an investment of US$ 6.445 trillion. Only 37% of this can be covered by government funds, necessitating the use of private funds for the remaining 63%. Public-Private Partnership (PPP) offer a solution for infrastructure development in Indonesia, where the government collaborates with the private sector to provide public infrastructure. However, PPP implementation faces challenges, such as changes in bank financial policies that affect financing schemes. The purpose of this study is to analyze the feasibility and variable risks of project funding through sensitivity analysis. A single case study approach was used to gather data. The results indicate that the Serang-Panimbang toll road project is feasible. Additionally, three parameters are identified as high risk: investment cost, income, and interest rate. The findings of this study are beneficial for the government and construction service actors involved in PPP projects. They also serve as a valuable literature review for academics studying PPPs.

Green bonds and clean energy stocks: Safe havens against global uncertainties? A wavelet quantile-based examination

The renewable energy sector has seen rapid investment growth over the last decade, with Green Bonds (GB) and Clean Energy Stocks (CLE) emerging as critical components of sustainable finance. Using daily data from 2013 to 2023, this study investigates the diverse roles of GB and CLE as potential safe havens under Geopolitical Risks (GEO) and Economic Policy Uncertainty (ECU). Applying an advanced Wavelet Quantile Regression (WQR) approach, we assess their effectiveness across different time horizons and risk conditions. The findings reveal that GB consistently offer stronger protection against economic risks, particularly in the short to mid-term, while CLE are more effective in shielding against geopolitical risks. Over longer periods, GB maintain their safe haven status, while CLE’s protective capabilities diminish. The results also highlight that GB and CLE behave differently across quantiles, with GB showing stability across extreme market conditions, making it a more reliable hedge overall. This study offers valuable policy insights for key stakeholders. Policymakers are encouraged to integrate GB and CLE into sustainable finance strategies, investors can mitigate risk by blending these assets, and portfolio managers should adjust allocations dynamically based on evolving market conditions. The results underscore the importance of green assets as hedges in times of global uncertainty, contributing to the growing literature on sustainable finance.

Logistics Financing Strategies and Economic Growth in Kenya: A conceptual Framework

Logistics financing is a critical component of economic growth, particularly in Kenya, where the sector faces numerous challenges, including poor credit management, limited financial resources, and high operational costs. This paper explores innovative logistics financing strategies and their potential to improve the financial performance and competitiveness of logistics firms in Kenya, especially in Mombasa County. The research highlights the importance of effective credit management, the role of machine learning models in mitigating credit risks, and innovative financing mechanisms such as third-party logistics and digital credit. Additionally, it discusses the broader economic implications of logistics on key sectors like agriculture, floriculture, and tourism. By reviewing empirical studies and theoretical frameworks, this paper proposes a conceptual model illustrating the relationship between logistics financing strategies and economic growth. The findings suggest that innovative financial solutions, including value innovation and working capital management, are essential for fostering an efficient logistics sector that contributes to Kenya’s economic development.

Corporate financial strategies and performance: Insights from China’s Shanghai Stock Exchange

This study investigated the impact of corporate financial strategies-(CFSs) on the performance of companies listed on the Shanghai Stock Exchange-(SSE) from 2010-2023, analyzing data from 2,269 firms, yielding 31,766 balanced firm-year observations. Utilizing a mixed-methods approach with a quasi-experimental design grounded in pragmatism, the inquiry employed two-step System-GMM technique to address endogeneity, simultaneity, heteroscedasticity, reverse causality and Nickell bias. Fixed effects-(FE) and random effects-(RE) models were applied to handle unobserved heterogeneity, omitted variable bias and guarantee robustness. The results revealed that, total-debt-to-assets-ratio-(TDTAR) and dividend yield-(DY) significantly and negatively impacted firm performance-(FP), measured by return on assets-(ROA) and Tobin’s Q-(TQ). Contrary, cash conversion cycle-(CCC), current ratio-(CR), total-assets-turnover-(TAT), tangibility-(TANG), total-equity-to-total-assets ratio-(TETAR), dividend payout ratio-(DPR), firm size-(SIZE), and firm age-(AGE) had a significantly positive effect on FP-(ROA and TQ). The study emphasizes the importance of effective CFSs in improving FP and offers insights for policymakers, investors, and managers, highlighting the need for corporate deleveraging, capital structure optimization and efficient asset and working capital management. Although focused on China, the study’s framework is applicable to other emerging markets, providing valuable theoretical, conceptual, and methodological insights as it integrates CFS metrics into the resource-based view theory-(RBVT), extending the theory’s scope making it more robust and generalizable.

Impact of Digital Yuan (e-CNY) Promotion on Traditional Banking: Challenges and Response Strategies

The introduction of China’s digital yuan (e-CNY) marks a significant transformation in the country’s financial sector, impacting traditional banking, financial institutions, and consumer behavior. As a central bank digital currency (CBDC), e-CNY is designed to enhance financial inclusivity, increase monetary control, and reduce reliance on third-party payment providers. However, its widespread adoption presents challenges and opportunities for traditional banks, requiring them to rethink their business models, adapt to digital currency dominance, and develop new financial strategies to maintain competitiveness. This paper explores the regulatory framework, technological challenges, and financial sector implications of e-CNY, focusing on its effects on traditional banking business models, deposit structures, and loan issuance mechanisms. The study also examines consumer behavior, market adoption patterns, and the competitive landscape, highlighting the role of fintech firms and digital payment platforms. The discussion extends to financial inclusion, particularly in rural and underbanked regions, assessing the potential of e-CNY in bridging economic disparities. The research further investigates response strategies for commercial banks, including hybrid financial models, fintech collaborations, and AI-driven banking solutions. It also provides policy recommendations to ensure stability in the banking sector amidst digital transformation, including monetary policy adjustments, cross-border e-CNY integration, and cybersecurity measures. Findings suggest that while e-CNY presents short-term disruptions to commercial banks, it also offers long-term opportunities for financial innovation and international trade expansion. The paper concludes that traditional banks must embrace technological advancements, regulatory collaboration, and service innovation to maintain relevance in China’s evolving digital economy.

Income Property in Moscow at the turn of the 19th and 20th centuries as an economic phenomenon

The turn of the 19th to the 20th century marked a period of industrialization and urbanization that significantly impacted social and economic dynamics. Moscow, like other metropolises of the time, experienced rapid urban population growth, creating a demand for both housing and commercial spaces. In this context, studying the emergence and development of income properties is highly relevant as it sheds light on how urban spaces, society, and human relationships to housing transformed under the influence of economic and social changes during this period. This research examines and analyzes the role and place of income properties within the urban housing system, assessing how accessible life in such buildings was for city dwellers, the economic foundations behind their emergence, and the impact of their construction on Moscow's architectural landscape. The conclusion offers a summarized evaluation of the economic, social, and cultural significance of income properties in Moscow. The scientific novelty of this study lies in the underexplored history of Moscow's income properties from financial-economic and social perspectives. Firstly, analyzing financial-economic aspects allows for a deeper understanding of investment mechanisms in urban real estate and their influence on market formation. Investigating the motives and financial strategies of owners and investors in income properties can illuminate the reasons behind the success or failure of such ventures, as well as their role in the city's economic development. Secondly, exploring social aspects enables an examination of issues related to social mobility, population structure, and social changes occurring within the context of urban development. These topics broaden our understanding of the city's social history. Studying these relationships will introduce previously unpublished materials into circulation, systematizing existing data based on diverse sources of information.

Demystifying the efficiency in managing the working capital through the lens of sustainability

PurposeThis study aims to scrutinize the role of environmental, social and governance (ESG) performance and its indicators in achieving working capital management (WCM) efficiency.Design/methodology/approachUsing a sample comprising 520 firm-year observations from Indian listed firms for the period from 2017 to 2021, the current study estimates WCM efficiency using the Banker, Charnes and Cooper (BCC) input-oriented model of data envelopment analysis (DEA). In addition, this study performs baseline, robustness and heterogeneity tests to examine the effect of ESG performance and its components on WCM efficiency.FindingsOur findings show that firms with high ESG performance better manage short-term liquidity. Also, environmental performance (EP), social performance (SP) and governance performance (GP) highlight a similar positive association with WCM efficiency. As per the heterogeneity test results, both high- and low-sustainable firms showcase the necessity of ESG performance to achieve efficiency in managing their working capital.Practical implicationsThe findings emphasize the need for managers and policymakers to integrate sustainable practices with financial strategies, enhancing both short-term stability and long-term sustainability goals and thereby guiding effective policy and governance enhancements.Originality/valueWe attempt to adjudicate the role of sustainability on WCM efficiency from an emerging country perspective, which has not yet been explored. Our study also makes a methodological contribution by pioneering the DEA in the context of ESG and working capital.

Bibliometric Analysis of Green Finance and Sustainable Investment Strategies

Green finance and sustainable investment strategies have gained significant attention as key mechanisms to address global environmental challenges and drive sustainable development. This study employs bibliometric analysis to explore the thematic, geographical, and temporal trends in research on green finance and sustainable investments, using data from the Scopus database. The findings reveal that central themes, such as "sustainability," "green economy," and "investments," dominate scholarly discourse, with growing emphasis on emerging topics like "green technology innovation" and "decentralized finance." China, the United Kingdom, and European nations are identified as leading contributors to research in this field, with notable collaborations across regions. However, disparities in regional representation and challenges such as inconsistent ESG frameworks and perceived financial risks hinder the adoption of green finance globally. The study highlights opportunities for harmonizing global standards, leveraging technological innovations, and expanding research in underrepresented regions. These insights provide valuable guidance for policymakers, financial institutions, and researchers aiming to enhance the effectiveness of green finance and sustainable investments.

MODERN INSTRUMENTAL APPROACHES TO MODELLING THE COMMERCIAL BANK’S FINANCIAL INVESTMENT POLICY

The article considers a complex of modern analytical approaches to the systematic modelling of the commercial bank's financial investment policy based on international practice. The authors examine the key aspects of modelling and analytical technologies that determine the strategic decisions of banking institutions in the field of financial investment, in particular, taking into account global economic and financial trends.The article highlights model and methodological approaches and tools used to analyze and forecast market conditions, risks and profitability in the context of banks' financial investments.The research purpose is to expand the instrumental apparatus and prove the significance of the technology's role and the implementation of a wide range of methods and modern international approaches to modelling the commercial banks' financial investment policy in the direction of strategic development in the context of global megatrends.The research is based on the tools of models of spatial econometric analysis (panel data), adaptive forecasting of dynamic series, multivariate data analysis, cluster and discriminant analysis.The paper presents an aggregated instrumental basis for the main key directions, namely analysis of the bank's financial indicators; assessment of the stock market's business activity level; classification and grouping of economic objects according to the investment attractiveness level. The data of the studied area interact and complement each other, allowing us to comprehensively generalize and objectively present the fundamental basis for decision-making.As a result of these stages' implementation, we can determine the optimal financial investment strategies, which contribute to increasing the commercial banks' efficiency and stability in the modern conditions of globalization and financial instability. An analytical view of the study of international approaches makes the article relevant for specialists in the fields of finance, economics and banking.

Analisis Rasio Aktivitas dan Rasio Profitabilitas untuk Menilai Kinerja Keuangan pada PT.AKR Corporindo Tbk Padatahun 2018-2022

Financial performance appraisal is an integral part of financial management that cannot be separated. The financial performance of a company is an important indicator in decision making for stakeholders, especially investors. This study aims to evaluate the financial performance of PT AKR Corporindo Tbk. during the period 2018 - 2022 using a number of financial ratios, such as receivables turnover, working capital turnover, fixed asset turnover, total asset turnover, return on investment, gross profit margin, and net profit margin. The research method used is quantitative descriptive with purposive area location selection and data collection through literature studies. The results showed that the average financial performance of PT AKR Corporindo Tbk during the period showed that receivables turnover, working capital turnover, fixed asset turnover, and total asset turnover were in the poor category. However, profitability ratios such as net profit margin, return on equity, and gross profit margin are included in the good category. Indicators of activity ratios and profitability that have not reached the standard can be improved by reducing costs that can reduce company profits and utilizing available funds for financing strategies that support the company's progress, which in turn can attract investors and potential investors.

Data on Liquidity Ratio Analysis of PT PLN (Persero) in 2022-2023

This study evaluates the liquidity ratios of PT PLN (Persero) based on audited financial statements for 2022-2023. The focus is on three key metrics: the current ratio, quick ratio, and cash ratio. Data analysis shows an increase in the current ratio from 0.82 to 0.91, though still below the industry standard of 2.00. The quick ratio improved from 0.70 to 0.79, yet remained under the ideal benchmark of 1.00. The cash ratio increased from 0.35 to 0.39, surpassing industry standards. Despite these positive trends, PT PLN needs further enhancements in current asset management and short-term financial strategies to optimize liquidity. This article provides stakeholders with valuable insights for investment, lending, and internal policy decisions