Financial Management Research Articles

Sustainability Based Financial Risk Management Strategies For Long Term Resilience: A Systematic Review

This study conducted a systematic literature review on the application of sustainability principles in financial risk management in the banking, agriculture, infrastructure, and decentralized technology sectors. By utilizing a sustainability-based approach and early warning metrics, this study identified significant benefits that can strengthen the financial resilience of organizations to long-term uncertainty. The findings show that this approach is not only effective in reducing financial risks but also generates social and environmental benefits, such as improved reputation, public trust, and strengthened stakeholder relationships. However, the implementation of this approach is faced with challenges, including limited resources, low awareness among organizations, and minimal regulations that support the adoption of sustainability in risk management. Recommendations from this study include the development of more supportive regulations, increased investment in predictive technology, and further in-depth research to strengthen the integration of sustainability in financial risk management. These findings are expected to encourage the adoption of a more strategic, responsive, and sustainable risk management approach, which can ultimately improve organizational resilience in the future.

TRANSTORNO DE DÉFICIT DE ATENÇÃO E HIPERATIVIDADE EM ADULTOS: PREJUÍZOS ADVINDOS DO DIAGNÓSTICO TARDIO

Attention deficit hyperactivity disorder is a neurodevelopmental disorder characterized by frequent changes in attention and motor activity. An individual affected by the disorder usually presents a persistent pattern of inattention and/or hyperactivity that impairs the functioning of their executive functions. When present in adults, it brings numerous significant impacts such as: affective-emotional, academic and professional performance, financial management, interpersonal relationships, marital relationships and parenting. Therefore, the general objective of this study is to evaluate the losses resulting from the late diagnosis of ADHD in adults. The methodology used was documentary and descriptive for literature, which included the analysis of existing material, especially books and scientific articles. It is clear that adolescents and adults have less hyperactivity than children, but there is a significant deficit in executive functions, which can compromise their intellectual development. The symptoms that an individual with this disorder may suffer and how this fact can harm different aspects of their life and finding ways to combat it is also to avoid consequences that harm the common good.

Evaluasi perlakuan akuntansi di badan pengelolaan keuangan dan pendapatan daerah Kota Tomohon

Government Regulation Number 71 of 2010 sets out the government accounting standards that must be applied in preparing and presenting government financial reports. This study will evaluate the suitability of the accounting treatment related to the presentation and disclosure of financial statements based on government accounting standards in Government Regulation Number 71 of 2010 at the Tomohon City Regional Revenue and Financial Management Agency. This study employs a descriptive qualitative approach, utilising both interview and documentation data collection techniques. The findings indicate that the majority of financial statements presented and disclosed have been prepared in accordance with Government Regulation Number 71 of 2024. However, there are still discrepancies in the disclosure of balance sheet details.

Effectiveness of Using Village Financial Management System in Minahasa Regency

The implementation of Law Number 6 of 2014 concerning Villages and its implementing regulations has mandated village governments to be more independent in managing government and various natural resources owned, including the management of village finances and assets. In terms of village finances, village governments are required to prepare reports on the realization of implementation and accountability reports on the realization of the implementation of the village revenue and expenditure budget. The Village Financial System Application (SISKEUDES) is designed in an integrated manner using simple and user-friendly features so that users can easily operate it. The Siskeudes application aims to ensure that village financial management, especially those sourced from village funds, can be managed cleanly and transparently. However, various problems have arisen along with the changes in the instrument. Problems with the quality of human resources, facilities and infrastructure, and policies that are not well understood by implementers in the field. The purpose of this study was to analyze the Effectiveness of Using the Village Financial Management System (SISKEUDES) in Rumbia Village and Kaayuran Bawah Village, South Langowan District, Telap Village, Eris District, Lolah Village and West Lemoh Village, Tombariri District, Minahasa Regency. This study uses a qualitative research method. Data sources are obtained from primary data, namely interviews and secondary data, namely supporting data in the field such as literature and documents. The results of the study indicate that the effectiveness of the use of the Siskeudes application in Minahasa Regency, reviewed from the Structural Aspect, appears to be running effectively, Reviewed from the Process Aspect. The effectiveness of the use of the Siskeudes application in Minahasa Regency is not balanced between villages, some villages experience a good and smooth process and From the Result Aspect, it can be seen that the Siskeudes application is very helpful for villages to manage village finances whose value is considered very large.

World Bank Financing and Sustainable Management of Tropical Forests

ABSTRACT Tropical forests contribute to maintaining the global ecological balance and to climate regulation. In 2002, the World Bank adopted a revised Forest Strategy to harness the economic potential of tropical forests, reducing poverty and promoting sustainability. This paper conducts a comparative analysis of forest sector project allocations between 2002 and 2020 using the institution’s global project database. The research results confirm that the forest cover of tropical countries is not a priority for World Bank funding, thus contradicting the stated aims of this institution. Only US$ 4.33 billion was allocated to tropical forests between 2002 and 2020, representing 0.41% of the total resources managed. At a particular disadvantage, due to the limited support received, is the African forest, which experienced a decline of more than 10% in its forest cover between 2002 and 2020. The evidence reported in this study justifies the need to significantly increase funding, reinforcing the link between productive development and sustainable forest management. In order to combat deforestation and restore forest cover in low-income countries, the World Bank must extend project benefits to more tropical countries, tailor new mechanisms to local conditions, and make it a priority to facilitate access to financing and increase non-repayable aid.

ТҮРКІСТАН ОБЛЫСЫНЫҢ 2020-2023 ЖЫЛДАР КЕЗЕҢІНДЕГІ БЮДЖЕТІН ТАЛДАУ ЖӘНЕ БАҒАЛАУ

The article analyzes the budget of the Turkestan region for the period 2020-2023. The main attention is paid to the dynamics of revenues and expenditures, as well as changes in the budget deficit (surplus) for the specified period. The use of financial resources and loans to finance budget operations is considered. Data analysis allows us to highlight the key problems and tasks facing the budget of the Turkestan region, as well as to identify potential strategies and measures to improve the financial situation and ensure sustainable development of the region. In order to ensure the socio-economic well-being of residents of the Turkestan region, the work shows the need for effective financial management, optimization of expenses and increase in revenues. As a result of the study, through analysis of the use of financial resources and loans, it is shown that the region is actively using internal resources to finance its needs, and it is also determined that it is faced with the need to seek external financing and loans. Therefore, it is proposed to pay more attention to measures to reduce costs, increase revenues and optimize budget management in order to achieve sustainable development and ensure the well-being of the Turkestan region and its residents. It also requires careful analysis and development of strategies to ensure financial stability, efficient use of resources and effective management of long-term financial risks.

The Effect of Financial Literacy on Village Government Business Performance

This study was conducted to study the impact of financial literacy and financial management on the performance of Village government businesses (Village-Owned Enterprises) located in Lobuk Village, Bluto District, Sumenep Regency. As a village economic institution, Village government plays a strategic role in improving the progress and prosperity of the community. The level of financial literacy and effective financial management are considered to be able to influence the operational success of Village government, especially in making strategic decisions, optimizing the use of funds, and increasing profits. This study adopted a descriptive quantitative method involving all administrators, employees, and tenants of Pelangi Nusantara Village government kiosks in Lobuk Village as the population and sample. There are three variables studied, two of which are independent variables, namely Financial Literacy (X1) and Financial Management (X2), while the dependent variable is Village government Business Performance (Y). Data analysts use several techniques including data quality testing, multiple regression analysis and determination coefficient testing. Hypothesis testing was conducted through t-test (partial) and F-test (simultaneous) with the help of IBM SPSS software version 25. The research findings revealed that financial literacy does not affect Village Government Business Performance, financial management has a significant positive effect on Village Government Business Performance, financial literacy and financial management have a significant effect simultaneously on Village Government business performance.

Blockchain Integration in Critical Systems Enhancing Transparency, Efficiency, and Real-Time Data Security in Agile Project Management, Decentralized Finance (DeFi), and Cold Chain Management

Blockchain technology has garnered significant attention for its potential to revolutionize critical systems by enhancing transparency, efficiency, and data security. This review examines the integration of blockchain in three essential domains: Agile Project Management, Decentralized Finance (DeFi), and Cold Chain Management. By leveraging decentralized ledgers and smart contracts, blockchain provides a robust framework for real-time tracking, data integrity, and automated compliance, addressing long-standing challenges across these sectors. In Agile Project Management, blockchain fosters seamless collaboration and transparent decision-making, minimizing bottlenecks and improving accountability. In DeFi, blockchain strengthens security for digital transactions and identity verification while offering financial autonomy and mitigating fraud risks. Within Cold Chain Management, blockchain ensures traceability, reduces data tampering risks, and enhances visibility throughout supply chain processes, safeguarding temperature-sensitive goods. This paper evaluates existing blockchain-based applications and frameworks, identifies current limitations, and discusses future opportunities for optimizing critical systems through blockchain. The findings highlight blockchain's transformative role in driving operational efficiency, security, and data transparency across diverse applications, providing a roadmap for industries to harness its full potential in critical environments.

The Impact of AI on the Development of Manufacturing, Logistics, and Financial Company from Capital Market Perspectives

Abstract: This paper explores the impact of AI technology on enterprises, especially in finance and capital markets. With the rapid development of AI technology, enterprises hope to improve productivity, financial management, and market competitiveness through AI, and ultimately achieve sustainable development. The article aims to analyze the application cases of AI in head enterprises and their effects and put forward corresponding suggestions and insights. By analyzing case studies of enterprises such as Tesla, Amazon and JP Morgan, it elaborates on the application of AI in various areas such as enterprise manufacturing, supply chain management, automated trading, risk management and customer service. It reveals the great potential of AI in improving enterprise operational efficiency, reducing costs and optimizing decision-making. By analyzing the above cases, it is suggested that enterprises should strengthen data privacy and security management and improve technology transparency and interpretability when introducing AI technology. The study reveals that AI technology has potential but also faces challenges, and enterprises need to keep overcoming obstacles to achieve the wide application and deep integration of AI technology.

Keterkaitan antara Akuntansi Syariah dan Zakat dalam Manajemen Keuangan

The main objective of this research is to analyse the extent of the application of sharia accounting in the management of zakat in zakat institutions. This research uses a qualitative approach with literature study as the main method. The qualitative approach was chosen because it allows to deeply explore abstract concepts such as Islamic accounting, zakat, and financial management, as well as their interconnections. Based on the findings of this study, it can be concluded that Islamic accounting has a crucial relationship and role in the management of zakat. The application of sharia principles such as al-amana, al-adl, and al-khas in zakat accounting not only ensures transparent and accountable fund management, but also increases public trust in zakat institutions. Good accounting practices such as segregation of funds, preparation of transparent financial statements, and independent audits are key in realising effective and efficient zakat management.

AN INVESTIGATION ON NONLINEAR OPTION PRICING BEHAVIOURS THROUGH A NEW FRÉCHET DERIVATIVE-BASED QUADRATURE APPROACH

Abstract Complicated option pricing models attract much attention in financial industries, as they produce relatively better accurate values by taking into account more realistic assumptions such as market liquidity, uncertain volatility and so forth. We propose a new hybrid method to accurately explore the behaviour of the nonlinear pricing model in illiquid markets, which is important in financial risk management. Our method is based on the Newton iteration technique and the Fréchet derivative to linearize the model. The linearized equation is then discretized by a differential quadrature method in space and a quadratic trapezoid rule in time. It is observed through computations that the accurate solutions for the model emerge using very few grid points and time elements, compared with the finite difference method in the literature. Furthermore, this method also helps to avoid consideration of the convergence issues of the Newton approach applied to the nonlinear algebraic system containing many unknowns at each time step if an implicit method is used in time discretization. It is important to note that the Fréchet derivative supports to enhance the convergence order of the proposed iterative scheme.

The Modern Economic, Technological, and Societal Trends: New Challenges or Opportunities. Conference Proceedings, November 27-29, 2024

The conference proceedings include abstracts from presentations at the Fifth International Scientific Conference on Accounting, Audit, and Analysis, titled “The Modern Economic, Technological, and Societal Trends: New Challenges or Opportunities”. This conference is dedicated to evaluating the evolution and modernization of accounting, auditing, and financial analysis, covering trends in accounting theory, practice, and regulation; technological transformations; shifts in audit methodologies; advancements in financial and business management practices; and the role of governance and accountability in addressing sustainability and climate-related challenges.

Finding Negativity of Business Interaction in Human Resources Management on Controlling the (Interacted) Business on Cutting Edges and Competitiveness

An interaction between promotion and sales, in a given business, should unfold many of the insights for the business. There lies a problem on higher or lower relative measures in respect of effort of promotion or sales, in an interaction in business. The study has found the relative measure and obtained results which theoretically lead to generate a model, may be called as sales model. With many of its prosperous virtues, this model would be able to control negativity in the measures of either promotion or sales. Such study can easily maneuver to computer software to anticipate or estimate the interaction outcome. In the study, there would be found the correlative relationship by which interaction phenomenon can be visualized, over several fluctuations of sales and promotion. The study should make the interaction modeling to form out the similar modeling for any management discipline like human resources management especially, alongwith operation, strategy, financial management and many others. With lots of future scopes, the study can be treated as an examining explanation to several real-life problems to solve within a business.

Opportunities and challenges of AI in financial risk management: A brief labour-centric analysis

Opportunities and challenges of AI in financial risk management: A brief labour-centric analysis

The Influence of Budget Planning, Bureaucratic Environment and Budget Evaluation on Budget Absorption with Management Commitment as a Moderator at the Directorate of Yogyakarta State University

This research is research with a quantitative approach carried out at the Directorate of Yogyakarta State University. This research aims to determine whether or not there is an influence of budget planning, bureaucratic environment, budget evaluation on budget absorption with management commitment as a moderator. The data collection method in this research is a questionnaire. The sampling method used was the purposive sampling method. The population that was the object of research was the financial planning and management team at the Directorate of Yogyakarta State University. The sample in this study was 100 members of the Directorate of Yogyakarta State University. Hypothesis testing was carried out with Partial Least Square (PLS) through the SmartPLS 4.0 program. Based on the research results with a significance level of 5%, the conclusions obtained are: (1) There is a positive and significant influence of Budget Planning on Budget Absorption with at statistic of 3.255 and a significant value of 0.001; (2) There is a positive and significant influence of the Bureaucratic Environment on Budget Absorption with at statistic of 2.410 and a significant value of 0.008; (3) There is a positive and significant influence of Budget Evaluation on Budget Absorption with at statistic of 1.688 and a significant value of 0.046; (4) Management Commitment strengthens the positive influence of Budget Planning on Budget Absorption with at statistic of 2.071 and a significant value of 0.019; (5) Management Commitment does not strengthen the positive influence of the Bureaucratic Environment on Budget Absorption with at statistic of 0.534 and a significant value of 0.297; (6) Management Commitment strengthens the positive influence of Budget Evaluation on Budget Absorption with at statistic of 1.685 and a significant value of 0.046.

Religious service attendance and consumer financial outcomes: Evidence from a longitudinal survey

Previous literature has pointed to strong links between religion and economic outcomes. However, little is known about how individual consumers ’ religiosity is related to their financial management outcomes. Using longitudinal data from a national representative survey of households in Poland (more than 90% of believers declaring Roman Catholic religious denomination), we examine the associations between religious service attendance (RSA) and three subsequent consumer financial outcomes: savings, debt, and financial satisfaction. Social contacts, general trust, and risk tolerance have been tested to mediate these associations. The results indicate that RSA is prospectively associated with all three consumer financial outcomes: savings (positive), debt (negative), and financial satisfaction (positive). Only one mediation effect was found: the association between RSA and savings is mediated by social contacts. This implies that religiosity, as measured by RSA, is prospectively associated with financial outcomes, and socialcontacts have some potential to mediate the process.

PT DANONE'S HANDLING OF FINANCIAL ISSUES AND CRISIS DUE TO THE ISSUANCE OF THE MUI FATWA BOYCOTT

This article discusses the issue management and crisis communication implemented by the food and beverage company, Danone, in responding to the spread of hoax news related to the MUI fatwa accusing its products of supporting Israel. This fake news poses a serious threat to the reputation and trust of consumers so it also affects the company's finances and requires an effective financial management strategy. This article analyzes in depth the steps taken by Danone in responding to these problems, including problem identification, crisis planning, forming a crisis management team, and implementing appropriate management strategies to maintain financial liquidity. This research also highlights the impact of boycott news on the liquidity of the PT Danone company. The results of this research provide insight into how large companies such as Danone are able to handle complex issue challenges in the era of social media and the rapid dissemination of information in maintaining company financial liquidity. It is hoped that these findings will contribute to business practitioners, policy makers and researchers interested in the financial sector, especially in the highly sensitive food and beverage industry. This research also emphasizes the importance of targeted issues and financial management strategies as a key factor in maintaining company liquidity in the midst of an unexpected crisis situation.

Evaluating the implementation of the National Primary Health Care Development Agency (NPHCDA) gateway for the Basic Healthcare Provision Fund (BHCPF) across six Northern states in Nigeria.

This evaluation research utilized both qualitative and quantitative methods to assess the implementation of the National Primary Health Care Development Agency (NPHCDA) gateway of the Basic Health Care Provision Fund (BHCPF) across six states in Northern Nigeria: Bauchi, Borno, Kaduna, Kano, Sokoto, and Yobe. This was a mixed-method research that utilized longitudinal surveys and Key informant interviews to gather information about the implementation status of the BHCPF-NPHCDA gateway. Checklists were developed based on the BHCPF's national guidelines to gather quantitative data, while simple open-ended questionnaires were used to collect qualitative data from the state BHCPF Program Implementation Unit (PIU) focal persons as key informants. The result revealed that the NPHCDA had accredited these six states to use one Primary Health Care (PHC) facility in each political ward to implement the BHCPF. Factors that contributed to the success achieved in some states included the early completion of contingent start-up activities, well-established coordination structures, strong support from partners, and the availability of established financial management systems. However, the delays in the submission of quarterly business plans by the BHCPF facilities affected timely approval and fund disbursement. Other challenges included staff capacity gaps, inadequate human resources, and poor management and supervision from the state health agency teams. There was suboptimal implementation of the BHCPF in at least one thematic area across all states. Therefore, actions such as government commitment for improved coordination, continuous capacity building, effective monitoring and evaluation, and targeted supportive supervision using innovative approaches should be undertaken to improve the program's implementation. In a broader setting, the insights from BHCPF implementation are valuable for LMICs, offering guidance on overcoming implementation challenges associated with PHC financing. This research provides a resource for enhancing healthcare financing strategies in similar contexts.

Emerging trends and key themes in public financial management: A bibliometric analysis from 1977 to 2024

This study presents a comprehensive bibliometric analysis of the literature on public financial management (PFM), aiming to identify key trends, influential publications, and emerging themes. Using data from Web of Science and Scopus, the study examines the evolution of PFM research from 1977 to 2024. The findings reveal a significant increase in PFM research output, particularly after 2010, with countries like the United States, the United Kingdom, and China contributing the most publications. Central themes such as financial management, transparency, and accountability remain prominent while emerging topics like gender budgeting, health insurance, and blockchain technology reflect shifting priorities in the field. The study employed performance analysis and science mapping techniques to assess the structure and dynamics of PFM research. The analysis highlights key focus areas, including fiscal decentralization and sector-specific management, and identifies gaps in the existing literature, particularly regarding interdisciplinary and international collaboration. The results suggest that while PFM remains rooted in traditional governance and financial control, there is a growing emphasis on modern, innovative solutions to address contemporary challenges. This study’s insights provide a roadmap for future research, emphasizing the importance of transparency, technological integration, and inclusive financial policies. In conclusion, this bibliometric analysis contributes to understanding PFM’s evolving landscape, offering scholars and policymakers a clearer perspective on current trends and future directions in the field. Future research should focus on expanding interdisciplinary approaches and exploring the practical impacts of emerging PFM trends across different regions.

COVID-19 and Market Response: Evidence From Listed Firms in Tanzania and Kenya

This study investigates the effects of COVID-19 on the financial performance of listed firms in the financial and consumer goods industries in Tanzania and Kenya. The choice of Tanzania and Kenya as focal points is motivated by their contrasting responses to the pandemic and their roles as economic powerhouses in the region. Using data from the Dar es Salaam Stock Exchange and Nairobi Stock Exchange spanning the period from 2015 to 2022, the study employs the Dynamic panel-data model, the two-step system GMM, to quantify the impact of the pandemic. The research has two specific objectives: to analyze the effect of COVID-19 on the financial performance of listed firms in the financial industry and to assess its impact on the consumer goods industry in both countries. Key findings reveal that in the financial sector, firms showed resilience with a positive impact on profitability during the pandemic, driven by the adoption of digital financial services and effective risk management. In contrast, the consumer goods sector experienced a significant negative impact, highlighting severe disruptions in supply chains and consumer demand. Notably, firms in Tanzania outperformed those in Kenya, due to less restrictive COVID-19 measures. These findings suggest policymakers should support digital innovations, prudent leveraging, and economic growth to sustain and improve firm profitability during future disruptions.