This research seeks to examine the impact of operational cash flow, sales growth, and operating capacity on financial distress within consumer cyclicals firms in the apparel and luxury goods sub-sector, listed on the Indonesia Stock Exchange for the period 2022–2024. This research employs a quantitative methodology utilizing an associative causal framework and secondary data derived from companies' yearly financial statements. We used SPSS software to do multiple linear regression to analyze the data. The results indicate that operating cash flow, sales growth, and operating capacity significantly influence financial distress, suggesting that enhanced cash flow production, sales performance, and asset utilization correlate with a diminished likelihood of financial difficulty. These results show that making a business better at making operating cash flow, keeping sales growth going, and using its assets more efficiently will help improve its financial situation and lower its financial stress. Descriptive data indicate that, on average, enterprises exhibit positive operating cash flow, continuous revenue growth, and an operating capacity over one, signifying operational efficiency and reasonably stable financial conditions. This study underscores the significance of proficient financial and operational management in sustaining financial stability and mitigating the risk of financial hardship in consumer cyclicals companies, especially within the apparel and luxury goods sub-sector.

Business organizations are increasingly required to move beyond intuition-based decision-making toward evidence-based approaches supported by data analytics. Advances in data analytics, machine learning, and predictive modeling have reshaped how firms interpret information, forecast trends, and respond to market dynamics. However, despite growing adoption, challenges related to data quality, organizational readiness, and ethical governance continue to limit the effective use of analytics in strategic decision-making. This study adopts a qualitative-descriptive approach using secondary data analysis and real-world case illustrations across multiple industries, including retail, healthcare, finance, logistics, and technology. Drawing on the Data-Driven Decision-Making (DDDM) framework and business intelligence theory, the paper synthesizes insights from academic literature, industry reports, and documented organizational practices to examine how data analytics supports evidence-based decisions and operational efficiency. The findings demonstrate that data analytics significantly enhances decision accuracy, operational efficiency, and strategic agility. Predictive analytics and machine learning enable organizations to anticipate market trends, personalize customer engagement, reduce operational risks, and optimize resource allocation. Empirical illustrations indicate notable improvements in efficiency, risk reduction, revenue growth, and customer satisfaction when analytics-driven approaches are systematically implemented. However, data quality issues, talent shortages, resistance to change, and data privacy concerns remain critical barriers. The study highlights that the transformative value of data analytics lies not only in technological adoption but also in cultivating a data-driven organizational culture supported by leadership commitment and ethical governance.

The rapid development of digital technology has encouraged micro, small, and medium enterprises (MSMEs) to utilize social media as an effective and efficient promotional medium. One important aspect of digital promotion is the use of persuasive language, which plays a key role in attracting attention and influencing consumer interest. This study aims to analyze the use of persuasive language in promotional content of the MSME Just Koling Afastar Coffee and to examine its role in increasing consumer interest and supporting business revenue growth. This research employed a descriptive qualitative method with documentary and field approaches. Data were collected through interviews with the owner and manager of the MSME, as well as documentation of promotional content published on social media platforms. Data analysis was conducted using the Miles and Huberman model, which consists of data reduction, data display, and conclusion drawing. The findings indicate that the promotional content of Just Koling Afastar Coffee is dominated by persuasive language in the form of short, casual, and easily understood invitation sentences. The use of persuasive language plays an important role in attracting consumer interest, increasing social media interaction, and supporting the growth in the number of customers and business revenue. This study confirms that persuasive language is a relevant and applicable marketing communication strategy for MSMEs, particularly in social media-based digital promotion.

Tax Revenue and Economic Growth in Nigeria.

Abstract In the contemporary banking environment, customer trust has emerged as a critical intangible asset influencing financial performance and long-term sustainability of banks. With increasing competition, digitalisation, and exposure to financial risks, banks are no longer evaluated solely on traditional financial indicators but also on relational factors such as trust, transparency, service reliability, and ethical conduct. This study examines the impact of customer trust on the financial performance of banks in India. Using primary data collected from 100 bank customers and secondary data from annual reports, the research analyses how trust affects profitability, customer retention, and revenue growth. Statistical tools such as percentage analysis, correlation, and regression analysis are employed. The findings reveal a significant positive relationship between customer trust and financial performance, suggesting that trust-driven banking strategies enhance profitability and stability. The study concludes with managerial and policy implications for strengthening trust-based banking practices. Keywords: Customer Trust, Financial Performance, Banking Sector, Profitability, Customer Retention

Firms in fragile economies face persistent challenges arising from institutional weaknesses, capital constraints, and market volatility, which often limit the effectiveness of conventional diversification strategies. In response, many organizations adopt replacement strategies renewing productive capacity, reselling non-core assets, and recycling existing resources as pragmatic approaches to sustain financial performance. This study investigates the impact of such strategies on the financial performance of companies in the Puntland State of Somalia. Anchored in the Resource-Based View (RBV) and guided by a positivist philosophy, the research employed a descriptive-explanatory design. Data was collected from 160 department heads across 53 firms in Puntland, representing telecommunications, banking, construction, manufacturing, trading, and accommodation sectors. Structured questionnaires on a five-point Likert scale were used to measure replacement strategies and financial performance, assessed through indicators including Return on Assets (ROA), revenue growth, liquidity, and cost efficiency. Analysis conducted using SPSS version 28, applying descriptive statistics, Pearson correlation, and multivariate regression, revealed that capacity renewal and resource recycling exert significant positive effects on profitability, asset utilization, and revenue growth. Conversely, asset resale strategies enhanced short-term liquidity but had limited influence on long-term profitability when applied in isolation. The study concludes that replacement strategies can meaningfully enhance firm performance in fragile economies when strategically aligned and supported by managerial capability. It recommends that firms prioritize capacity renewal and resource recycling, while policymakers strengthen institutional frameworks to maximize the effectiveness of these strategies.

This paper is a thorough examination of the relationship between inflation and government revenue stability in The Gambia for the period 2006 to 2024 using data from annual time series. The thorough econometric methodology adopted included stationarity tests (i.e., ADF and KPSS) and regression (OLS with HC3). The analysis revealed a significant positive relationship between inflation and real government revenue growth. Different from the traditional Tanzi effect hypothesis, a 1% rise in inflation will entail a 3.558% rise in real revenue growth (p = 0.032). Conversely, high inflation shocks (exceeding 12%) lead to a drop in revenue growth of 36.227 percentage points (p = 0.062). All diagnostic tests substantiate model validity with no autocorrelation (Breusch-Godfrey p = 0.672), no heteroskedasticity (Breusch-Pagan p = 0.302), and acceptable normality (Jarque-Bera p = 0.111). These findings not only refute the traditional fiscal theory but also imply significant policy reforms in inflation targeting and revenue prediction for small open economies with non-indexed tax systems.

Women entrepreneurs play a vital role in economic development through job creation, innovation, and poverty reduction; however, limited access to finance remains a major constraint to their growth and sustainability. This paper evaluates the effects of access to finance on the performance of women-owned Small and Medium Enterprises in Borno state. Nigeria. Data were obtained from primary and secondary sources through structured questionnaire and documents from relevant institutions. Statistical estimations were conducted using correlation, regression, frequency and percentage methods. Key variable in the study include access to finance and business performance indicators such as revenue growth, employee count, and market expansion. The findings indicate that access to finance plays a significant role in enabling women entrepreneurs in Nigeria to grow their businesses and contribute to economic growth. however, the study also reveals that limited access to collateral and high interest rate hinders women’s entrepreneurial ventures. The findings reveal a significant positive relationship between access to finance and SME performance, indicating that improved financial inclusion enhances the operational capacity and competitiveness of women entrepreneurs. The study concludes that addressing financial barriers through gender-sensitive credit policies, capacity building, and institutional support can foster the growth of women-owned enterprises and contribute meaningfully to national economic development. The study recommended that the government prioritize gender sensitive credit schemes. Promotes alternative forms of collateral and encourage public private partnership to support women entrepreneurs

This study investigates the determinants of financial and market-based sustainability among listed Information Technology (IT) firms in Central and Eastern Europe (CEE) between 2018 and 2024. Drawing on Agency Theory, Stakeholder Theory, Resource-Based View Theory, Dynamic Capabilities Theory and Legitimacy Theory, it examines how leverage, profitability, growth and earnings quality shape firm performance and valuation outcomes. Using a balanced panel of 266 firm-year observations from Poland, Romania, Hungary and Croatia, the analysis applies fixed-effects Ordinary Least Squares (OLS) regressions with heteroscedasticity-robust (HC3) standard errors. The results reveal that lower leverage significantly enhances return on equity, confirming agency-based governance effects, while revenue growth and earnings per share (EPS) are strong positive predictors of profitability. On the contrary, rapid growth increases Stock Price Volatility, reflecting a risk–return trade-off typical of emerging technology markets. Market valuation ratios (P/E) show weak sensitivity to fundamentals, suggesting that investor confidence in CEE IT firms remains partially institutionally constrained. Overall, the findings emphasise that sustainable performance in transitional economies depends more on internal capability deployment and governance discipline than on market perception, highlighting the maturity gap between operational excellence and valuation transparency in the regional IT sector.

Internet TV business is facing pain points such as scattered resources and lagging decision-making in the process of digital transformation. This article constructs a data-driven business management and control model, which integrates business analysis, project accounting, and dynamic resource allocation mechanisms to improve business operation efficiency. The research proposed a closed-loop framework of "data analysis decision optimization", combined with Internet TV user behavior data, content resource data and financial data, to verify the effectiveness of the model in cost control and revenue growth, and provide a replicable management paradigm for the industry.

This study investigates the effects of paid subscriptions on revenue and user engagement on social media platforms, focusing on Instagram. By leveraging Network Externality Theory, Customer Engagement Theory, and Uses and Gratifications Theory, the research explores how paid subscriptions impact network effects, user base growth, and emotional and behavioural engagement. A longitudinal analysis of 146,942 Instagram comments reveals a predominantly positive sentiment towards paid subscriptions, with users expressing high levels of appreciation and satisfaction. The study identifies key themes such as positive engagement, content quality and constructive feedback. Findings suggest that paid subscriptions enhance platform attractiveness and user interaction, driving increased engagement and revenue growth. This research provides valuable insights for platform developers and content creators, highlighting the importance of continuous monitoring and responsiveness to user feedback.

Abstract-Agile methodologies have become a dominant approach in software development due to their emphasis on flexibility, rapid delivery, and continuous improvement. However, many organizations operate in environments where agile practices coexist with traditional project management structures, leading to the adoption of hybrid project environments. Despite their widespread use, limited empirical research evaluates the effectiveness of agile practices within such hybrid settings using objective organizational data. This paper presents a comparative empirical analysis of three technology companies representing agile, traditional, and hybrid project management approaches. Using publicly available organizational data, the study examines key performance indicators including revenue growth trends, release cycle frequency, and employee satisfaction metrics. The comparative analysis highlights how organizations adopting hybrid approaches that integrate agile practices achieve delivery performance and workforce engagement levels comparable to predominantly agile organizations, while retaining the stability and governance associated with traditional models. The findings provide data-driven insights into the effectiveness of agile methodologies in hybrid project environments and support the view that hybrid approaches offer a practical balance between adaptability and control in complex organizational contexts Key Words: Agile methodologies, Hybrid project environments, Comparative analysis, Software project management, Organizational performance, Release cycles.

Ecosystems of online art education have become rich online spaces, combining creative pedagogy and smart technology and data-driven management. The research explores a global governance and operational system that combines artificial intelligence and cloud services with ethical policies to provide more accessibility, quality, and sustainability in the learning of digital art. The study identifies the use of human-AI hybrids in enhancing the learner experience, teaching and learning, and organizational effectiveness by analyzing the stakeholder collaboration, learning outcomes, and risk management aspects. The model focuses on fair monetization, transparency of intellectual property management and culturally aware content curation such that creativity and accountability exist in a safe online space. Analysis of quantitative performance shows that there are great correlations between the engagement performance and completion rates, consistent increase in revenue growth and system reliability which confirms the suggested governance model. The paper ends with a strategic plan, based on which immersive technologies, predictive analytics, and blockchain-based accreditation might be integrated to promote the concept of sustainable and inclusive art education in the global context.

Local own-source revenue (PAD) represents a core component of regional fiscal capacity and an essential indicator of subnational fiscal sustainability. This study examines the potential, revenue structure, and performance of local taxes in strengthening the local fiscal capacity of Kotabaru Regency. The analysis is based on secondary data on local tax revenues for the 2020–2024 period obtained from the Regional Revenue Agency of Kotabaru Regency. The empirical approach combines an assessment of tax composition and sectoral contributions, an evaluation of revenue target achievement, and trend and medium-term projection analysis using a logarithmic specification. The findings reveal that the local tax revenue structure in Kotabaru Regency is highly concentrated in Street Lighting Tax, Non-Metal and Rock Mineral Tax, and the Land and Building Rights Acquisition Duty (BPHTB), indicating a strong sectoral dependence on energy and extractive activities. While aggregate tax performance appears relatively strong, with average realizations exceeding annual targets, considerable heterogeneity is observed across tax instruments. Service-based and locally embedded taxes exhibit comparatively weak performance, pointing to untapped local tax capacity. The logarithmic trend estimates suggest a deceleration in revenue growth, consistent with diminishing returns in mature tax bases. These results imply that future fiscal strengthening should prioritize potential-based revenue planning, administrative efficiency and compliance enhancement, and diversification of the local tax base to improve regional fiscal resilience.

This study conducts a comprehensive analysis of accounts receivable management at Midea Group from 2019 to 2023. Utilizing financial ratio analysis, comparative benchmarking with industry peers (Xiaomi Group and Gree Electric), and aging structure assessment, the research identifies significant challenges in the company’s receivables management. Key findings indicate a continuous expansion in accounts receivable balance, with growth rates frequently exceeding operating revenue growth. The proportion of receivables to operating revenue and current assets remains elevated relative to industry averages, signaling potential liquidity constraints and heightened capital occupation. Furthermore, the accounts receivable turnover rate is comparatively low, and the aging profile demonstrates a rising trend in longer-term receivables, accompanied by an increasing bad debt provision. These issues are attributed to factors including overreliance on credit sales for market expansion, lenient credit policies, inadequate internal controls, and customer credit risks. To address these challenges, the study proposes targeted recommendations such as strengthening customer credit evaluation, optimizing credit policies, enhancing collection mechanisms, improving internal management processes, and employing financial instruments for risk mitigation. Implementing these measures can enhance accounts receivable liquidity, reduce bad debt risks, and bolster the overall financial health of Midea Group, while offering insights for similar manufacturing enterprises.

This research examines the macroeconomic determinants of inflation in Cambodia with an ARDL cointegration analysis. The results demonstrate a long-run negative association between inflation and exchange rates, tax revenue, and broad money. In the short run, growth in tax revenues dampens inflation, while money supply growth boosts it. Looking at the results, we can infer that expansionary fiscal policy (in particular, tax effort) and prudent monetary policy can control Cambodia’s currency and inflation. Policymakers should take into account the system of relationships among these macroeconomic variables to design such policies, which can cause price stability and long-term growth in the economy.

This paper examines valuation differences across markets for dual-listed companies, selecting JD. com as the research subject. This paper examines the valuation of JD. com's Hong Kong and U. S. exchanges through four aspects: stock price comparison, valuation data analysis, comparable company valuation assessment, and market comparison between Hong Kong and U. S. exchanges. The research concludes that JD. com's Hong Kong stock price has historically been lower than that of U. S. , with this divergence stemming from differing investor structures, market trading mechanisms, and regulatory policies across the two markets. Conversely, JD. com's Hong Kong valuation has historically exceeded its U. S. valuation, driven by short-term profitability and current strategic initiatives. The differences in JD. com's valuation stem from differences in its business model and profitability. The comprehensive analysis of these variations demonstrates that valuation discrepancies for the same company across different markets arise from multiple internal and external factors. Internal factors include the company's own business strategy, profitability levels, and revenue growth rates. External factors encompass investor profiles in the Hong Kong and U. S. stock markets, as well as market systems and regulatory environments.

With the advancement on the reform of healthcare payment system and the zero-markup drug policy, hospitals are shifting their strategic focus from traditional revenue growth to cost control, which drives the need for robust comprehensive budget management. The implementation of comprehensive budgeting within clinical departments is particularly crucial to overall hospital budget management. Against this backdrop, this paper investigates the current state of daily budget execution, identifies existing challenges in a clinical department of a large Grade A Tertiary public hospital in Sichuan Province, summarizes the importance of implementing comprehensive budget management at the clinical department level and proposes adaptive, feasible optimization strategies for comprehensive budget management methods. These strategies are expected to enhance the efficiency and effectiveness of comprehensive budget management in clinical departments, improve the quality of refined management, and provide references for optimizing comprehensive budget management in clinical departments.

This quantitative study aims to analyze the influence of CSR, Profitability, Leverage, Liquidity, and Firm Size on Tax Aggressiveness in energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. The research context stems from the crucial role of tax as the state’s fiscal backbone, which is often challenged by corporate tax aggressiveness—a strategy to minimize tax burden that potentially impedes state revenue and economic growth. Secondary data were collected from company financial reports and analyzed using the multiple linear regression method with the aid of SPSS version 27. Tax Aggressiveness was measured using the Effective Tax Rate (ETR) proxy. The results indicate that, simultaneously, all independent variables (CSR, Profitability, Leverage, Liquidity, and Firm Size) significantly influence Tax Aggressiveness. However, partially, only Leverage was found to have a significant influence, while CSR, Profitability, Liquidity, and Firm Size did not have a significant influence. The study concludes that the level of Leverage is the single most important factor individually influencing corporate tax strategy in the energy sector, while the combination of all factors collectively has a significant impact on Tax Aggressiveness decisions.

This research conducts a quantitative evaluation of how the adoption of e-commerce influences the financial performance of Small and Medium-sized Enterprises (SMEs), We utilize a comprehensive panel dataset sourced from U.S. official trade statistics spanning from 2018 to 2024, One crucial challenge we confront is selection bias, that is, more prosperous firms might be more likely to embrace e-commerce. To handle this issue, we integrate Propensity Score Matching (PSM) with a Differencein- Differences (DID) framework, This methodological approach aims to identify the causal impact of e-commerce adoption, The research findings are notable. Compared to a meticulously selected control group, the adoption of e-commerce is associated with approximately a 15.2% rise in revenue growth and simultaneously a 5.8% decrease in operational costs, This twofold effect leads to a substantial enhancement in overall profitability, Our results offer solid, data-based evidence for the transformative significance of digital platforms. They also highlight the importance of formulating policies that can expedite the digitalization process of SMEs.