International Journal of Electronic Finance (49 papers in press)

Regular Issues

• Influence of Private Consumption and Public Spending on Economic Growth in Peru  
  by Rosario Huerta-Soto, Carlos Fernandez-Lopez, Hober Huaranga Toledo, Miguel Silva-Zapata, Julio Valera-Aredo 
  Abstract: This article examines the sources of economic growth in Peru from 2007 to 2018, integrating the analysis of private consumption and public spending, then analysing the macroeconomic adjustment and structural change that has characterized the Peruvian economy in the stage of economic openness. The study’s main goal was to identify the factors contributing to home-level poverty in Peru during a specific period. The data sources matched the institute’s survey, which obtained and managed bad variables. Semi-studies and a quantitative methodology made the descriptive research informative and statistically significant. The macroeconomic theory presents debt’s pros and cons on output. A theory that fiscal expansion raises debt but boosts consumer spending and job growth supports beneficial outcomes. How positive the multiplier effect depends on its strength? It also examines endogenous economic growth models with public institutions and those for the Peruvian economy; then, the model is estimated using contemporary structural econometrics. The research’s findings indicate that public investment, particularly in infrastructure and the rule of law, has not had a favorable impact on Peru’s economic growth in recent years.
  Keywords: Economic Growth; Private Consumption; Public Spending; Ramsey Test; Macroeconomic Theory; Rule of Law; Labor Productivity; Human Capital.
  DOI: 10.1504/IJEF.2024.10055099
   
  
• Financial Articulacy Accelerates Economic Growth Related to GST Transition  
  by T. Shenbagavalli, S. Piradeep, Priyadharshini B, Ramya S, Y. Fathima 
  Abstract: Financial literacy is used to assess both individual and national financial health. Financial articulacy teaches analytical financial decision-making and problem-solving. Real estate, insurance, investment, savings, tax preparation, and retirement are just a few areas where this insight may be useful. Lack of financial articulacy may result in bad financial decisions that harm a country’s economy’s financial stability. Improper funding causes most national financial issues. Goods and services tax spirals 17 indirect taxes and 22 cesses into one tax. GST is a basic tax with a five-tiered taxation slab for different items. Luxury goods cost more, and mass-consumed goods cost less. It’s nothing new; most nations have already adopted GST to make their products more competitive on the global market. The highest rate applies to luxury items and stands at 28%. To benefit from GST rather than indirect taxes, it is necessary to have a firm grasp on a wide range of concepts, since the highest tax rate in the globe is 28%. This study simplifies the GST transition and boosts economic growth through inclusivity.
  Keywords: financial articulacy; goods and services tax; sustainability; planning of tax; articulacy; indirect taxes; economic growth.
  DOI: 10.1504/IJEF.2024.10055127
   
  
• Analyzing Consumer behavior by integrating Digital payment awareness into the UTAUT model  
  by HARISH KUMAR, Rajni Sofat 
  Abstract: Currently, the market is flooded with internet-based services, including digital payment. The study examines the impact of performance expectancy, effort expectancy, social influence, facilitating conditions, and digital payment awareness on behavioural intention and consumer buying behaviour. It also investigates mediating role of behavioural intention between independent and dependent variables. Surveys were used to learn about digital payment patterns in Uttarakhand, India. We used SmartPLS-3.0 to test hypotheses. Overall, performance expectancy, effort expectancy, social influence, facilitating conditions, and digital payment awareness favourably affected customer buying behaviour. However, behavioural intention partially mediated the link between performance expectancy, social influence, facilitating conditions, and consumer buying behaviour, and fully mediated the relationship between effort expectancies, digital payment awareness, and consumer buying behaviour. The results of this study could help fintech companies, banks, payment gateways, and governments build user-friendly technological improvements, regulatory rules, and frameworks to make digital payments better and more accessible for everyone.
  Keywords: digital payment; UTAUT model; digital payment awareness; DPAW; buyer intention; consumer buying behaviour; CBB.
  DOI: 10.1504/IJEF.2024.10055194
   
  
• An Application of ADCC-GARCH and Wavelet Coherence to Explore Connectedness between Stock Markets and Cryptocurrencies  
  by Susovon Jana, Krishna Pandey, Tarak Nath Sahu 
  Abstract: The current study aims to explore the dynamic connectedness between stock and cryptocurrency markets and to determine the role of cryptocurrencies in the stock market as a hedge, diversifier, or safe haven. The study uses daily data of four stock indices and six cryptocurrencies, covering a period of January 2016 to December 2022. The analysis is conducted using the ADCC-GARC method with the Wavelet Coherency. The results indicate both stock and cryptocurrency markets exhibit long-run volatility persistence. The properties of Bitcoin, Ethereum, Binance Coin, Dogecoin, and Ripple vary between a range of hedges and diversifiers in different stock markets, which can change depending on market circumstances. However, only Tether has shown that it can act as a safe haven investment in all studied stock markets over time.
  Keywords: Cryptocurrency; Diversification; Hedge; Safe Haven; Wavelet Coherence; ADCC-GARCH.
  DOI: 10.1504/IJEF.2024.10055286
   
  
• Russia-Ukraine war: Impacts on major stocks and oil markets  
  by Mohit Saini, Mahender Yadav, Vaibhav Aggarwal 
  Abstract: This study examines the impact of the Russia-Ukraine war on the top 10 stock markets, along with Russian markets and oil markets. The event study methodology is employed to examine the abnormal returns, and later results’ robustness is tested by non-parametric tests. The first finding is that European markets are worst hit by war. Second, US markets generated significant upside abnormal returns. Third, Asian markets are the least affected. Interestingly despite sanctions, Russian markets gave maximum positive cumulative abnormal returns for ten days post the event day. Further, oil markets acted as an effective hedge on expected lines. This study implies that the investors may consider the southern nations to diversify the war risk since most wars that happened in the past were in the Middle East or European region. The southern hemisphere has less proximity and dependency on the Middle East and Europe.
  Keywords: arm conflicts; war; stock markets; oil markets; Russia-Ukraine; top 10 countries.
  DOI: 10.1504/IJEF.2024.10055531
   
  
• The Consequences of Efficient Communication on Operational Efficiency  
  by Mohammed Al-Abyadh, Iskandar Muda, Budhi Sagar Mishra, Aram Jawhar Mohammad, Bestoon Othman, Arup Roy Chowdhury 
  Abstract: Conversation is a crucial and essential part of the organisation since it successfully promotes managers, which impacts organisational administration and outcomes. The systems theory is used in this important study to evaluate how communication firm outcomes. In meeting its goals, the study’s objectives were to determine the theory-based network characteristics that impact effective interaction and then design a communication model that considers these aspects. In the study, the organisational culture serves as a facilitator as it evaluates the effect of efficient communication on firm success. The information was gathered from a few people employed by businesses in a country’s IT and telecom sectors. The study’s findings indicate that good communication favours organisational performance, but if an organisation’s culture is not supportive, performance will suffer. The findings of this study suggest that management should support and develop a culture of good communication both within and between enterprises to boost performance.
  Keywords: effective communication; performance; knowledge management; organisational; performance; organisational culture.
  DOI: 10.1504/IJEF.2024.10055898
   
  
• Consumer Awareness About Road Sector in India And Suggested Approach for Improved Involvement of Citizens in Road Development Programs  
  by Kedar Bhagwat, Dhiraj Prakash Sethi, Anand Venkatesh, Yogesh Mahajan 
  Abstract: With the success of road development programs in terms of the availability of quality road networks across the country and acceptance of roads as a primary mode of transportation amongst road users, in this study, we have conducted road user awareness regarding road transportation system and related road safety aspects through a comprehensively designed web-based objective type questionnaire. This questionnaire was distributed online to road users nationwide, mainly passenger car drivers. All the satisfactory responses have been analysed using descriptive analysis and regression analysis. According to the survey, road users think they comprehend traffic laws, road networks, and toll policies. The average awareness score was 16 out of 31 items (approximately 50%), which is poor considering that 47% of respondents were from the civil/infrastructure industry, contributing heavily to India’s road-building program. This study examined user awareness across programs, not just safety. Policymakers can utilise the study’s findings to comprehend passenger car users’ awareness of the road network, driving behaviours, road safety, toll policy, and technological initiatives.
  Keywords: road user awareness; road safety initiatives; road development programs; civil/infrastructure industry.
  DOI: 10.1504/IJEF.2024.10055791
   
  
• Application of the UTAUT Model Toward Individual Acceptance: Emerging Trends in Artificial Intelligence-based Banking Services  
  by Preeti Sharma, Sanjay Taneja, PAWAN KUMAR, Ercan Özen, Amandeep Singh 
  Abstract: In the business world, acceptance of new technologies, in particular internet banking is becoming more crucial. Numerous researches on internet banking have discovered that the opinions and experiences of customers are crucial to the service’s effectiveness. To determine factors influencing internet banking adoption, the study may employ the use of technology and unified theory of acceptance anxiety, and security risk. For the data collection, 116 replies were received, and factor analysis was performed using PLS-SEM. The SEM found that roughly 55.66% of the variation in intention of users to use digital banking was explained by predictors. The integrated UTAUT model had the biggest impact on consumers’ intents to utilise digital banking. Additionally, use of the UTAUT model can help academics to gain an updated knowledge on ways to encourage internet banking acceptability for clients of public and private banks, thereby assisting in the expansion of internet banking acceptance. In this paper, commercial bank customers offer a fresh viewpoint on technology-based banking services. In order to increase trust of banking clients, the RBI as well as bank officials shall concentrate on technological and factor driving customer satisfaction.
  Keywords: UTAUT model; internet/digital banking; anxiety; security risk; PLS-SEM.
  DOI: 10.1504/IJEF.2024.10056287
   
  
• E-bidding adoption among SMEs: Evidence from an African emerging market  
  by Youssef Chetioui, Tahar Harkat, Fatimazahra Rais, Hind Lebdaoui, Imane Lebdaoui, Souad Nassir 
  Abstract: While digitalisation reforms aiming to enhance the quality of public services were made in place, most stakeholders in developing countries still use paper-based-tendering processes, which are associated with increased costs. To overcome these problems, calls to adopt e-bidding have recently emerged. This study aims to explore the readiness of Moroccan SMEs to adopt e-bidding. To achieve this goal, we proposed an integrated framework combining the TAM and UTAUT models to examine the predictors of SMEs intention to adopt e-bidding. We empirically tested the conceptual model using a partial least squares (PLS) estimation based on data from 210 SMEs. Our results suggest that effort expectancy, facilitating conditions, and social influence as the key factors influencing SMEs intention to adopt e-bidding. We also suggest firm size as a significant moderator. This will help in improving SMEs’ user experience and will also allow a better implementation of e-bidding in Morocco and similar contexts.
  Keywords: electronic bidding; UTAUT; TAM; emerging markets; Morocco; digitalisation.
  DOI: 10.1504/IJEF.2024.10056312
   
  
• Composite Financial Performance Score - A new performance measure for evaluating the impact of working capital efficiency of firms  
  by Shiv Shankar Kumar, N. Sivasankaran, Subrata Roy, Naresh Gopal 
  Abstract: Working capital management is vital to the functioning of a healthy and successful commercial firm. A major portion of working capital literature has empirically examined the impact of working capital efficiency (WCE) on the firm’s profitability. In literature, profitability is often used as a proxy for a company’s financial performance. However, the drawback of these studies is that the outcome measure used by them does not reflect the full/aggregate impact of WCE because these measures (ROA, ROCE, ROE, NOI and GOI) only account for the impact of WCE on business profitability and ignore the impact of WCE on other sub-metrics of financial performance. In this research, we present a new performance measure of WCE, namely, composite financial performance score (CFPS) by considering the most important performance indicators such as profitability, liquidity, solvency, cash flow management, and leverage. Borrowing from Piotroski’s F-score framework, we have developed a discrete binary scoring system using scores of 0 or 1 on 22 sub-parameters that form part of the above stated performance indicators of a firm. The study is useful for academicians and industry practitioners as it provides new insights and implications for them in the performance assessment of firms.
  Keywords: profitability; liquidity; solvency; cash flow management; leverage; composite financial performance score; working capital efficiency.
  DOI: 10.1504/IJEF.2024.10056394
   
  
• Enhancing Clean Technology's Dynamic Cross Technique Using Value Chain  
  by Luigi Pio Leonardo Cavaliere, Sanjay Rizal, Krishnasamy Srinivasan, Ashutosh Singh, Iskandar Muda, Surendra Kumar Shukla 
  Abstract: Numerous Indian economic sectors have been impacted by the COVID-19 epidemic, with many being forced to the verge of extinction. As a result, this essay analyses the importance of supply chains for grapes and the manufactured goods made from them, including beverages and currants, in a specific state that happens to be India’s top grape-producing region. In order to identify the sites of rupture brought on by the pandemic and to recommend policy changes to create a resilient system, a value chain analysis is performed. Value chain management has emerged as one of the key strategies businesses use today to boost productivity and costs when they are up against greater rivalry in the marketplace, however, with several new challenges, such as concerns over security, environmental protection, compensation, and business accountability. According to the value chain study, the level of value addition for intermediary agents, such as pre-harvest contractors, has increased after COVID-19 at the expense of farmers. Various policy approaches are explained to enhance the grape value chain using the knowledge gained from Porter’s value chain results and supply and demand shocks.
  Keywords: fruit and vegetable cycle; system efficiency evaluation; fresh produce warehouse; innovative design; COVID-19.
  DOI: 10.1504/IJEF.2024.10056594
   
  
• Crypto Currency and Economic Growth in Nigeria  
  by Chi Aloysius Ngong  
  Abstract: This study investigates the link between crypto-currencies and economic growth from 2012Q1 to 2019Q4. GDP per capita measures economic growth. Bitcoin transactions volume, private sector credit and foreign direct investment measured currency circulation using Engle-Granger residual co-integration, fully modified OLS, dynamic OLS and conical co-integration regression. Results unveil long-term relationship between crypto-currencies and economic growth. The findings indicate a negative long-run association between LNBVT and GDP. The Central Bank of Nigeria and government should improve the legal system to regulate crypto currencies transactions. This research suggests implementation of effective laws on crypto-currencies transactions to limit crypto-currencies’ negativities in the global economy. This is possible if the crypto-currencies’ developers create geographically delimited or encrypted protocols. This study recommends that all economic actors should be open-minded towards technological innovations. The suggested policies would improve crypto-currency acceptance in the economies globally. The authorities should regulate crypto-currencies’ usage and security from illegal activities.
  Keywords: crypto currency; economic growth; fully modified OLS; FMOLS; dynamic OLS; DOLS; conical co-integration regression; CCR; Nigeria.
  DOI: 10.1504/IJEF.2024.10056974
   
  
• Analysis of Significant Problems in Horticultural Sector by Asserting Developing and Modern Constraints  
  by P. Madhu Kumar Reddy, V. S. Prasad Kandi, M. Radhika 
  Abstract: Present horticulture industry is the fastest growing industry towards contribution to society, production, greenhouse plants and economic development. Followed to these lines, the horticulture industry faces certain critical issues that shed light on the problems and challenges in selling and marketing horticulture products in India. Industry professionals used Delphi Technique to identify the emerging horticulture sector challenge. Experts agreed on 58 topics, 15 related to selling and marketing horticulture products. The constant comparative method analysed crucial topics like environmental and economic sustainability, government regulations and research education, marketing and supply chain management, production and harvesting, and workforce development. With this altering culture, supplementary businesses have used their wide selection of positive things. This article also examines how these organisations work, their competitiveness, consumer needs, and ways to improve their competitiveness using four important subsectors. Delphi picked each variable’s qualifying conditions. Results of the expert team to reveal horticultural product sales and marketing challenges.
  Keywords: environmental sustainability; marketing; supply chain management; critical issues; labour shortage; critical concerns; landscaping; labour crisis; ecology.
  DOI: 10.1504/IJEF.2024.10057056
   
  
• Analysis of the Specified Paint Company’s Financial Performance together with the Impact on Stock Liquidity  
  by Sadhishkumar V, P.Uma Swarupa 
  Abstract: The study examined the paint manufacturers stock price-liquidity correlation. Choosing the best model and forecasting paint company stock values are financial decisions. Yahoo Finance and Money Control were examined. Demand and supply set prices in open markets. Equilibrium explains stock markets. The top three NSE India-listed paint companies by market cap were examined. Shorting equities reduces market activity, influencing shareholder sentiment and liquidity. This cubic regression model study measures investor sentiment. According to studies, optimistic investors boost market liquidity. Margin trading dampens investor mood and market liquidity. Cognitive data limits market liquidity. Explosive data enhances liquidity in bull markets, decreases it in bear markets, and has no influence when startled. March 2017 to February 2022 data was collected monthly. Liquidity does not affect paint makers stock prices. The cubic regression equation accurately forecasted paint company stock values. The regression equation predicted that AKZOINDIA would trade for 1,912.40, 1,960.45, 1,918.48, 1,872.30, and 1,821.78 Indian rupees in March, April, May, June and July. ASIAN PAINTS may trade for 3,203.00, 3,614.16, 3,714.51, 3,817.38, and 3,922.81 rupees. BERGER PAINT may trade for 736.80, 788.94, 788.67, 787.18, and 784.41 Indian rupees.
  Keywords: liquidity; stock performance; stock market liquidity; investment and expense; microeconomic; global reactions; liquidity traders; financial ratios.
  DOI: 10.1504/IJEF.2024.10057057
   
  
• Unraveling the Legal Conundrum of DNA Profiling in India: An Analysis of Its Adoption, Implementation, and Unresolved Issues  
  by Sankar D 
  Abstract: DNA profiling has transformed criminal justice by helping identify defendants. DNA profiling is an art that uses genetics to identify people. Recently, DNA profiling has helped solve crimes. Scientists can now decipher the DNA code and compare DNA samples to find similarities and differences, which have helped courts convict or acquit criminals. The Indian Evidence Act 1872 and Criminal Procedure Act 1973 govern DNA evidence admissibility and significance. DNA profiling has been a helpful technology in law investigation since it has the potential to both secure just punishments and exonerate innocent people. Moreover, DNA profiling, in contrast to other forms of scientific evidence, is simple to acquire and durable, thus enhancing the likelihood of a correct analysis. Human DNA profiling must be regulated and limited to legal uses. The DNA Technology Regulations Bill 2019 regulates DNA profiling in India. This study attempts to explain India’s DNA profiling justice system dilemma. The uniqueness of DNA profiling and its use in criminal investigation to reveal grey zones that lead to miscarriage of justice.
  Keywords: Criminal Procedure Code; CrPC; constitutional law; DNA profiling; genetic makeup; National Registry of Exonerations; NRE; evidence law; forensic science.
  DOI: 10.1504/IJEF.2024.10057097
   
  
• Digitalization Boost Operation Efficiency with Special Emphasize to Banking Sector  
  by Sai Sudha J., V. S. PRASAD KANDI 
  Abstract: The banking sector has experienced a substantial technological shift that has opened up new and better opportunities for its customers. Based on their technological expenditures, the study assessed the two biggest public Indian banks and the two biggest private Indian banks. The most crucial statistical techniques used to demonstrate the aims are realistic are bivariate correlations and ordinary least squares. This work aims to establish a connection between research and a technology index that serves as a proxy for operational efficiency. The results show that for both public and private banks, the technology index positively influences operational efficiency metrics like IT costs, marketing costs, and compensation costs. This suggests that when the technology index increases, so do IT, marketing, and compensation costs, even though it has been shown that the technology index favourably improves operational efficiency measures like depreciation and printing. This means that the cost to banks is high despite greater investment in technology for these activities.
  Keywords: digitalisation; boost operation; banking sector; public sector banks; Indian economy; financial performance; entrants; incumbents.
  DOI: 10.1504/IJEF.2024.10057174
   
  
• Insights from Bibliometric Analysis: Exploring Digital Payments Future Research Agendas  
  by Lata Saini, Satish Khasa 
  Abstract: Along with amazing advancements in the field of digital payments, this article seeks to provide a summary of research undertaken over the last four decades and to suggest areas in need of additional study. This study employs a two-pronged technique for analysing its data. The first is concerned with performance analysis, and the second with science mapping. The study uses the apps VOS viewer and R-studio to do bibliometric data analysis. From 1982 until May 2022, the most trustworthy database, Scopus, is used to compile a database of 923 publications The findings of this study identify the scope of current research interest, which is explored with critical contributions from a variety of authors, journals, countries, affiliations, keyword analysis, citation analysis, co-citation analysis, and bibliometric coupling, as well as a potential research direction for further investigation in this emerging field.
  Keywords: digital payments; electronic payments; bibliometric analysis; mobile payment; VOSviewer; R-studio.
  DOI: 10.1504/IJEF.2024.10057459
   
  
• Understanding the trend and GAP of studies related to the banks' financial performance: A review of the literature using Bibliometric as well as thematic analysis  
  by Jaspreet Kaur, Nitin Pathak, Sanjay Taneja, Ercan Özen 
  Abstract: The financial performance of banks is a very eye-chancing topic for the researchers since 19th century. As this research focuses on the years 2012 to 2021, which is the period when the Situation of pandemic happens and the banking system of the globe get entirely changed after this. Their performance still gets jolted. Accordingly, results are extracted. Out of 5,974, Scopus covers 4,840 journals in the top-level subject field of finance, business management, accounting, social sciences, and econometrics. So based on this, it extracted 1,917 papers. To know the countries which primarily did a study on that and even the best journals that publish these researches, even identify the basic keywords used by the various authors. It also identified top researchers related to this area. Research had been conducted on the 1,917 papers which are indexed in the Scopus database. Thematic analysis was done to know about the future of the particular topic. Through that analysis found that profitability, credit risk, and commercial bank are the themes that are niche covered and these fields required much consternation by the researchers for future research. Now new topics are to know the profitability of commercial banks through data envelop analysis instead of bench-marking.
  Keywords: biometric analysis; business management; finance; service sector; performance assessment.
  
  
• Research on the operational efficiency of Chinese fintech companies based on the DEA model  
  by Xiao Ling Song, Pei Peng, Xuan Qin 
  Abstract: Fintech is important for China's 'new infrastructure' and for driving strategic innovation at the national level. Measurement systems are constructed considering cost income and company development. The DEA model is used to analyse the operating efficiency and slack variables of 55 listed fintech companies from 2014 to 2019. This paper distinguishes between the establishment years, enterprise attributes, and scale of companies. It concludes that companies with high establishment years are more efficient than those with low establishment years. The average comprehensive technical efficiency changes of non-state-owned enterprises are slightly higher than those with low establishment years. Non-SBM effective enterprises' investment redundancy indicators are total assets, payable employee compensation, and the number of employees, while insufficient output is reflected in net profit's indicator. Based on the research results, suggestions are made to promote the sustainable development of fintech in China, which is significant for the promotion of financial innovation in China.
  Keywords: Fintech; corporate operational efficiency; standard DEA model; dynamic DEA model; SBM-DEA model; slack variables; decision-making unit; DMU; establishment years; enterprise attributes.
  DOI: 10.1504/IJEF.2024.10057607
   
  
• Moderating Effects of Challenges on Self-Efficacy and Satisfaction of Women Street Vendors  
  by Muthulakshmi A, Tamilselvi J, Shahul Hameed 
  Abstract: Street vending is a means of survival for many families in India, especially women who are economically disadvantaged or have limited opportunities for formal employment. However, these vendors face significant legal obstacles in establishing their businesses due to insufficient infrastructure and limited resources. They struggle to acquire room and financing to run a profitable firm due to a lack of infrastructure. Women’s street vendors in India often face various challenges and hindrances from the government, the public, licensed establishments, law enforcement, and other sources. Despite such challenges, they run their businesses successfully due to their economic conditions. Self-efficacy affects these vendors’ business management, problem-solving, and satisfaction. Purposive sampling was used to recruit 421 Tamil Nadu residents from Tirunelveli and Kanyakumari. SPSS and AMOS studied female street seller data. Our findings show that female street vendors’ business happiness depends on their satisfaction in overcoming hurdles. High amounts decrease satisfaction, while low levels boost it. Self-efficacy affects satisfaction too. Street merchants need public and government support to succeed.
  Keywords: street vending; women; self-efficacy; challenges; satisfaction; infrastructure; legal obstacles; formal employment; licensed establishments.
  DOI: 10.1504/IJEF.2024.10057783
   
  
• Oil price and profitability: evidence from Southeast Asian countries  
  by Aslan Tleugaliyev, Alimshan Faizulayev, Muhammad Arslan 
  Abstract: The paper explores the influence of macroeconomic variables on the profitability of the aviation sector in the Southeast Asia region. The panel corrected standard errors (PCSE) regression model was employed for the period 2011 to 2019 on a sample of six countries (i.e., Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam). The results revealed the positive effect of an increase in inflation whereas increases in government expenditure, lending, interest rate, profit tax, and the 2014 year associated with the decline in global oil prices, exert a statistically negative influence on the financial performance of the aviation sector in Southeast Asia region. The effect of changes in oil prices and population growth, 2015 to 2016 years as the continuation of global oil prices decreases, is statistically insignificant. The paper contributes to the understanding of important economic factors affecting the financial performance of the aviation industry in Southeast Asian countries in light of the COVID-19 outbreak and for further development of the economic sector.
  Keywords: oil prices; airlines; profitability; return on assets; ROA; panel corrected standard error; PCSE; panel data.
  DOI: 10.1504/IJEF.2024.10057784
   
  
• Business Intelligence in Human Management Strategies During COVID-19  
  by Melanie Lourens, Arup Roy Chowdhury, Sammaiah B, Brijesh Goswami, Shivinder Phoolka, Shruti Sharma 
  Abstract: The spread of COVID-19 results in disruption, uncertainty, complexity, and ambiguity in all businesses. Employees help companies achieve their aims. To manage human resources sustainably, analyse organisational strategy. This thorough research study attempts to find previously unidentified challenges, cutting-edge techniques, and surprising decisions in human resource management outside of healthcare organisations during the COVID-19 pandemic. The narrative review examined corporate human resource management measures to mitigate COVID-19. Fifteen publications were selected for the study after removing duplicates and applying the inclusion and exclusion criteria. This article examines HR’s COVID-19 response. Human resource management’s response to economic and financial crises has been extensively studied, but the COVID-19 pandemic has not. This paper reviewed the literature to reach its goal. The results followed the AMO framework for human resource policies and procedures and the HR management system. This document suggests COVID-19 pandemic-related changes to human resource management system architecture, policies, and practises. The study created a COVID-19 pandemic human resource management framework based on the literature. The COVID-19 pandemic had several negative effects, including social and behavioural changes, economic shock, and organisational disruption.
  Keywords: negative outcomes; business intelligence; human resource management; pandemic; contagious illness; SARS-CoV-2; unexpected global problems; COVID-19; novel coronavirus.
  DOI: 10.1504/IJEF.2024.10057949
   
  
• Artificial Intelligence in Behavioural Finance Using A Sophisticated Decision-Tree Algorithm  
  by Shirley Leo Pereira, Jainambu Gani Abbas, V. Mahalakshmi 
  Abstract: Financial market statistics have been an essential part of the national economy due to their capacity to represent the state of the economy. Due to economic impact, the market failed. This paper introduces an automatic classification approach that detects cyber-bullying without requiring a high-dimensional space. We designed a text classification engine that pre-processes tweets, filters out environmental noise and extraneous information, recovers the chosen features, and classifications without overfitting the data. Due to this limitation, we proposed a sophisticated decision-tree algorithm (SDTA) for analysing the behaviour of financial marketing strategies by employing the artificial intelligence (AI) technique. The Morgan Stanley Capital International (MSCI) World Index-based data is initially gathered. Furthermore, the data is pre-processed using the normalisation technique. Then SDTA is proposed for predicting the behaviour of financial marketing. Moreover, optimisation is employed by utilising the particle swarm optimisation technique (PSO). The proposed method was compared to assess system efficiency. For this goal, feature extraction with the networking model may be suggested.
  Keywords: financial market; national economy; sophisticated decision-tree algorithm; SDTA; artificial intelligence; AI; particle swarm optimisation technique; PSO.
  DOI: 10.1504/IJEF.2025.10057976
   
  
• THE ROLE OF MEDIATOR VARIABLE IN DIGITAL PAYMENTS: A STRUCTURAL EQUATION MODEL ANALYSIS  
  by Martina Franciska, S. Sahayaselvi 
  Abstract: The proliferation of technology and communication has resulted in increased digitalisation that includes digital payments. This study is aimed at unravelling the relationship between awareness of individuals about the digital payment system and customer satisfaction with digital payments. Two models were developed in this study. First model considers awareness → usage pattern → customer satisfaction. Second model considers usage pattern → customer satisfaction →perception of digital payments. These two alternative models were tested by collecting data from 507 respondents in southern India was analysed using the structural equation modelling. The results indicate that usage pattern acted as a mediator between awareness and satisfaction, and satisfaction acted as a mediator between usage pattern and consumers’ perception of digital payments. The implications for theory and practice are discussed.
  Keywords: electronic commerce; barter; structural equation model; digital age; usage pattern; awareness; perception and satisfaction about digital payments.
  DOI: 10.1504/IJEF.2024.10058202
   
  
• Factors Affecting the Adoption of E-Payment System in Haryana
  by Arti Gaur, Sanju Verma 
  Abstract: The aim of the research is to discover how different factors and the adoption of e-payments relate to one another. A sample of 200 users was engaged using a developed questionnaire. The analysis of moment structure software was used to do confirmatory factor analysis and structural modelling studies. The data was determined to be internally consistent enough to measure each factor by exploratory factor analysis. Furthermore, confirmatory factor analysis of the data found no problems with convergent or discriminant validity. The research discovered that perceived trust, perceived risk, and attitude had a favourable and significant impact on the adoption of e-payment. However, hedonic motivation was positively but insignificantly correlated with the adoption of e-payment. Surprisingly, there was a negative and insignificant link between social influence and the adoption of e-payments. This study suggests that companies should use more diversified communication channels to promote e-payments among people of all ages. These findings offer significant assistance to service providers, investment firms, and governmental organisations as they develop plans to promote the use of e-payments.
  Keywords: online payment; electronic payment; adoption; digital payment.
  DOI: 10.1504/IJEF.2025.10058388
   
  
• Unearthing The Impact of Service Quality on Customer Satisfaction and Purchase Intention in Online Meal Delivery Services
  by Narinder Kaur, Shamily Jaggi, Harvinder Singh 
  Abstract: This research aims to increase awareness regarding the elements that affect service quality and how they affect the overall quality of service, customer satisfaction, and purchase intentions. The goal is to pinpoint the essential elements in determining how customers perceive and interact with a certain service. This investigation is based on prior work on the quality of service in online meal delivery services. The six service quality attributes framework that is most useful for predicting consumer behaviour is the subject of this study. With various e-service quality features, the outcome is anticipated to increase awareness about varied national cultures. The multiple regression technique was utilised to evaluate the research framework using data gathered from a survey of 313 online meal delivery services in Delhi-NCR. The investigation shows that security, dependability, assurance, application design, and food quality and hygiene greatly impact e-service quality. Traceability does not greatly affect e-service quality. Customer satisfaction, e-service quality, and purchase intention are significantly correlated. To guarantee measurement works across all service industries, future studies should include these criteria. Another online company may need a different scale. Future studies may use focus groups and interviews.
  Keywords: online meal; delivery services; purchase intention; customer satisfaction; e-service quality; consumer behaviour; restaurant business; service industries.
  
  
• A Study on Customer Experience of using Chatbots in Banking sector with moderating role of Age and Gender  
  by Shubhangi Agarwal, Bhawna Agarwal, Ruchika Gupta 
  Abstract: The purpose of the study is to propose an analytical framework by combining the ISS model, TAM model and customer experience to examine the impact of using chatbots on customer experience and customer satisfaction. The study also investigates the moderating role of demographics on customer experience. The present study considers chatbot as a form of information system, therefore the study proposes a framework based on information system (IS) success model, technology acceptance model (TAM). The survey method was conducted to collect the data from 325 users of banking chatbot and the proposed model was validated by using partial least square (PLS) techniques. The study concluded that information quality, system quality, service quality and perceived ease of use are significant drivers which influence customer experience and the latter affects customer satisfaction. The study also provided some key theoretical and managerial implications regarding customer experience of using banking chatbots. The study provides insight into a rapidly developing technology in banking industry. The primary value of this paper lies in examining the impact of factors on customer experience and examining moderating role of demographics (age, gender) variables.
  Keywords: chatbots; banking industry; customer experience; customer satisfaction; Smart PLS; India.
  DOI: 10.1504/IJEF.2024.10058571
   
  
• Employing Legal Interventions and Policies for the Comprehensive Abolition of Manual Scavenging Practices
  by Satheesh Pushparaj, P.R.L. Rajavenkatesan 
  Abstract: Even after 74 years of independence and the enactment of the constitution of India, which is the highest law of the land and guarantees social justice and fundamental rights to every citizen of India, this is still a distant dream for some subsets of the people who make up society in India. Scavenging is caste-restricted. The Minister of Social Justice and Empowerment reported that 97% of manual scavengers are scheduled caste members, with rare exceptions (Ministry of Social Justice and Empowerment, 2021). Manual scavenging breaches human dignity and ethical employment. Hand-scavenging is one of the most inhumane jobs today and one of the oldest types of caste discrimination. Manual scavenging causes untouchability. This study focused on manual scavengers, who often laboured for life for little pay. Most must work for minimal pay or risk losing their jobs. The running competition says job loss is the worst fear. The Indian Constitution guarantees the right to employment, including decent labour. Everybody can work. No one can stop Indians from working in any legal field. Despite decades of legal and political efforts to stop it, lower-class individuals are exploited and degraded for profit.
  Keywords: discrimination; freedom to work; government; judicial; manual scavengers; untouchability; ethical employment; railway administrations; fundamental sanitary.
  DOI: 10.1504/IJEF.2025.10058655
   
  
• An Empirical Study on the Perception and Satisfaction of the Policyholders towards Health Insurance
  by Kaliyammal Velu, P. Mohanasundaram 
  Abstract: Health insurance generally delivers straight reimbursement to the sanitarium (cashless installation), repays the charges related to ails and grievances, or spends static assistance on the circumstance of an illness. The insurance content was substantially narrowed to life and automobiles. Service quality is judged by comparing consumer expectations with facility recital. The health plan specifies which medical bills will be covered in advance. Life insurance protects your family financially if the insured dies. Health insurance protects tone and family against financial disasters like death. A health guard policy’s principal goal is to provide policyholders with a low-cost cash return in medical emergencies. It reduces emergency hospitalisation costs. Health insurance covers unexpected medical expenses. The demographics of Dharmapuri district health insurance policyholders reveal service quality and perception to investigate the insured’s biggest health insurance business and agent difficulties. Secondary sources augmented primary data. The study used quarterly reports, websites, IRDA publications, periodicals, and journals for secondary data. Propionate stratified slice had 282 of 1,074 individuals. ANOVA, correlation, and descriptive statistics kept the analysis going.
  Keywords: health insurance; sanitarium; quality of services; policyholders; hospitalisation; financial return; perception and satisfaction.
  
  
• Article 282 And Centrally Sponsored Scheme (CSS)-A Spring of Federal Strain
  by Jai Ganesh M, Rabbiraj C 
  Abstract: The financial transfers made by the federal government to the states serve as a major source of funding for Centrally Sponsored Schemes (CSSs). These programs, which were created and received some funding from the federal government, are implemented by the state governments. Budget estimates for 2021-2022 indicate that around 25% of the fiscal transfers to states will go to CSSs. However, it has been questioned whether Article 282’s provisions regarding discretionary grants accord to the structure of the original constitution. The purpose of Article 282 was not to alter the Union’s relationship with the states significantly. If that had been the plan, the complex ties between the shares, grants, and assignments would not have been necessary. It does not seem necessary for the centre to be able to assist the states through two separate articles (Articles 275 and 282), one through the Finance Commission and the other through executive authority. Even parliamentary legislation is not necessary for executive discretion. This empirical analysis reveals how CSSs and Article 282 undermine fiscal federalism in India.
  Keywords: federalism; intergovernmental fiscal transfers; IGFTs; Planning Commission; discretionary grants; Article 282; Centrally Sponsored Schemes; CSSs; state government; fiscal federalism.
  DOI: 10.1504/IJEF.2025.10059116
   
  
• Factors Influencing Internet Banking Adoption during COVID-19: A Comparative Study among the Selected Public and Private Banks in Bangladesh
  by Imtiaz Masroor, Farzana Akther, Md. Noor Un Nabi 
  Abstract: Though it is found that the users are gradually shifting towards adopting internet banking, several factors create a strong barrier against it. This study is conducted to find out the factors that influence Bangladeshi bank users to adopt internet banking. There are seven factors taken and were tested using non-parametric measures as the data collected using structured questionnaire from 150 respondents from six banks are found to be non-normal. This study found a statistically significant difference in all the seven factors among the six banks and between public and private banks taken in this study. This study provides a unique perspective on the factors affecting adoption of internet banking during COVID-19 pandemic. As the worldwide impact of this pandemic resulted in nationwide lockdown, people are induced to satisfy their banking needs online. This study provides unique insight regarding the condition of online services provided by the banks in Bangladesh.
  Keywords: internet banking adoption; emerging economies; Kruskal-Wallis H test; Mann-Whitney U test; Bangladeshi banks in COVID-19.
  DOI: 10.1504/IJEF.2025.10059152
   
  
• Scroll To Success: Unveiling the Impact of Social Media Marketing on Women's Cosmetic Product Purchasing Behavior
  by Shahina Begum, Densingh Joshua Israel 
  Abstract: As women’s social involvement and employment have become more institutionalised, cosmetics have grown significantly as a form of self-expression and self-image projection. With the development of social media, businesses in the beauty industry now have a powerful tool for reaching their target market and promoting their goods. This study examines how social media marketing affects women’s cosmetics purchasing decisions. The study focuses on Tamil Nadu s female internet shoppers who purchase cosmetics through social media or online retail websites. The findings of this study reveal several key insights regarding the impact of the social media platform, attribute (AT), satisfaction (SA), customer intention, and trust (TR) on the buying behaviour of women in the context of cosmetic product purchasing. Customer purchase intention (CPI) strongly predicts actual buying behaviour (BB), suggesting that effective marketing campaigns can stimulate favourable intentions and drive conversions. Customer intention, influenced by social media, was a weak predictor for actual purchasing behaviour. Customer satisfaction and customer intention were found to be significant predictors of actual shopping behaviour, whereas trust was found to play significant roles in shaping female consumers’ purchasing decisions. This study provides valuable insights into how social media influences consumers’ buying behaviour for cosmetic items.
  Keywords: Social media; Consumer Behaviour; Cosmetic Product; Purchasing Behavior; Buying Behaviour; Customer Intention; and Trust; Technology Acceptance Model (TAM).
  DOI: 10.1504/IJEF.2025.10059221
   
  
• Effect of COVID-19 on Migrant Workers' Income in India's Manufacturing Sector
  by Dhirendra Bahadur Singh, RAVI KUMAR GUPTA 
  Abstract: India experienced a COVID-19 pandemic in January 2020, causing a 1.3 billion lockdown, severely impacting the migrant workers of the manufacturing sector, 122 million job losses, and a declining standard of living. This paper examines the economic vulnerability and the impact of COVID-19 on the income of internal migrant workers in manufacturing units in Uttar Pradesh, India. Data from 385 informal workers were collected, with 145 being in internal migration. The economic vulnerability of migrant workers lies in the manufacturing sector. More than 80% of migrant workers are at a high level of economic susceptibility. At the same time, the percentage of inter-state migrants is higher on the high level of the vulnerability index. Unemployment for more than six months was higher in intra-state migrants, and over half of the migrant workers were infected by the virus, resulting in daily wage losses. The study highlights the need for specific interventions to address these issues. Social protection systems, more job possibilities, equitable wages, and improved health and safety should all be priorities for policymakers.
  Keywords: COVID-19; migrant workers; informal workers; income loss; economic vulnerability index; EVI; manufacturing sector.
  DOI: 10.1504/IJEF.2025.10059425
   
  
• An Investigation into The Impact of Human Resource Analytics on Strategic Decision Making in The Financial Services Industry
  by Ahmad Bani Ahmad, Srinivas Kolachina, Prasuna Sankar Kuragayala, E. Hymavathi, Dilmurod Nasimov, Meeta Joshi 
  Abstract: This research study intends to investigate how strategic decision-making in the Indian financial services sector in Guntur is affected by HR analytics. The study employs a quantitative research design and includes 88 HR professionals working in Guntur’s banking and financial services industry as its sample size. Since the dawn of the twenty-first century, information technology, defined by electronation, technological advancement, and networking, has advanced swiftly worldwide. Technological innovation has already touched the economy and society, which has also altered the planet’s political, social, cultural, and economic landscape. Data is collected via a questionnaire on HR analytics, strategic decision-making, and their effects. The study reveals that HR analytics improves financial services strategic decision-making. HR analytics enable data-driven hiring, training, and performance management decisions. HR analytics may also assist companies identify areas for improvement and implement adjustments to improve performance. This study strengthens the case for HR analytics in financial services. The report recommends HR analytics to improve strategic decision-making.
  Keywords: human resources; HR; HR analytics; strategy; decision making; financial services; data management; talent evaluation; analytics in HR; channel management.
  DOI: 10.1504/IJEF.2025.10059426
   
  
• Meta-analysis of Cryptocurrency Adoption Literature: An Investigation of Individual and Contextual Moderators
  by Mohit Verma 
  Abstract: This paper synthesises the fragmented and conflicting findings of 29 quantitative studies on cryptocurrency adoption behaviour using a meta-analysis approach to generalise the hypothesised associations. Accordingly, the most significant antecedents of cryptocurrency adoption behaviour are perceived usefulness, ease of use, social influence, perceived behavioural control, attitude, trust and personal innovativeness. The moderator analysis confirms that the countries’ cultural dimensions, economic development, and innovativeness level, impact conceptual relationships. Furthermore, the COVID-19 pandemic increased the magnitude of association between perceived usefulness, perceived risk, perceived behavioural control and behavioural intention. This study is one of the initial meta-analyses on cryptocurrency literature, aimed to advance the literature by adding a comprehensive understanding of antecedents that influence behavioural intention to adopt cryptocurrencies. The results of these studies have implications for both the academicians and as well as for the practitioners interested in promoting cryptocurrency and theoretical underpinning for future researchers.
  Keywords: cryptocurrencies; technology acceptance model; meta-analysis; COVID-19; investors’ behaviour.
  DOI: 10.1504/IJEF.2025.10059638
   
  
• Assessing the Employment Security of Sri Lankan Tamil Camp Living Refugees in Tamil Nadu, India
  by Maneesh P, SHAMEEM C. C, Muniyandi C 
  Abstract: Sri Lankan Tamil refugees are moping in refugee camps without protection for their fundamental rights, including the opportunity to work and increase financial autonomy, which is crucial to rebuilding their dignity and self-esteem after a terrible experience with their nation. Since India has not ratified any refugee convention or other international instrument, the best way to attribute to it a commitment to refugee rights is to widen universal human rights and worldwide humanitarian law to include refugee law and refugee protection. This study examines livelihood security for Sri Lankan Tamil refugees in India. 1,000 camp-living refugees from Madurai, Tiruvallur, Erode, Tiruvannamalai, and Vellore were surveyed. The study indicated that refugees’ economic conditions had not changed after three decades in the host country. Their refugee status limits their economic progress. Lack of livelihoods and constraints has slowed their development. 76.1% had trouble getting a work, while 23.9% did not. The camp’s remote location affected 28.1% of respondents. The camps’ remoteness and poor educational and skill levels reduce work stability. Refugees’ labour boosts the host nation’s economy. Refugees need improved policies and an unrestricted camp to live better.
  Keywords: statelessness; landlessness; economic security; livelihood sustenance; local integration; refugee status; relief assistance; India.
  DOI: 10.1504/IJEF.2025.10059745
   
  
• Performance Analysis and Forecasting of Selected Large Cap, Mid Cap and Small Cap Mutual Funds
  by Chinta Sam Sundar, Vedala Naga Sailaja 
  Abstract: Mutual funds have risen significantly in the previous two decades. Recently increasing initiatives and finance have boosted Indian mutual fund schemes. Mutual funds have risen rapidly in the last two decades. Mutual funds are relevant in the global economy because of their unique edge over other investments. The Indian mutual fund business has grown due to increased initiatives and money mobilisation. Large-cap funds need more risk tolerance and longer trading horizons. Mid-cap mutual funds are unrestricted equity funds that invest at least 65% in mid-cap firm equities. Mid-cap companies attempt to balance risk and return and have growth potential compared to large caps due to investing in growth-stage firms. Unrestricted bond mutual funds that focus on small-cap equities are called 'small-size mutual fund managers' . Thus, this study employs the ARIMA model to analyse the performance of 15 funds, 5 from each section, using returns (calculated from net asset values) data from December 2017 to December 2022. The funds' returns are expected from January through December 2023. The best big size, mid-cap, and small-cap funds, according to the analysis, have steady and greater returns.
  Keywords: mutual funds; large-cap; mid-cap; small-cap; net asset value; ARIMA; growth-stage firms; Indian mutual fund.
  DOI: 10.1504/IJEF.2025.10059746
   
  
• Dynamics of Human Capital Investment and Firm Performance: MSMEs Context
  by Navjot Kaur, Balwinder Singh 
  Abstract: Given the importance of MSMEs to the Indian economy, this study explores the dynamic interdependency between human capital investment and firm performance in the context of the government of India’s support for these businesses. A dataset of 42 Indian MSMEs from 2006 to 2020 is used in the analysis, which also uses impulse response analysis and panel vector autoregression (VAR). The empirical results show that investments in human capital (HC) have a negative effect on sales but a favourable effect on firm value. The Granger causality test also shows a bidirectional association between HC investment and company performance. The findings are analysed for theoretical, managerial, and policy implications. Human capital development can affect numerous performance indicators, thus organisations should carefully allocate resources for it. This data helps managers choose HC investment strategy. The Indian government should help MSMEs grow human capital to boost business value. MSMEs may benefit from information exchange, skill development, and training policies. The study’s conclusion suggests further research on industry-specific moderators and how human capital investment influences business performance.
  Keywords: human capital; investment; firm performance; micro; small and medium enterprises; endogeneity; panel vector auto regression; Tobin’s Q; economic growth; capitalist accumulation; unification.
  DOI: 10.1504/IJEF.2025.10059747
   
  
• GLOBAL RESEARCH TRENDS ON BLOCKCHAIN TECHNOLOGY IN FINANCE: PAST, PRESENT AND FUTURE
  by Rachana Jaiswal, Shashank Gupta 
  Abstract: The intense interest that blockchain technology has ignited among academia and corporate leaders has spurred keen scrutiny of the finance industry’s current knowledge. Nevertheless, the lack of a comprehensive evaluation of blockchain research in finance creates a void in the scholarly literature. This study utilises bibliometric analysis using VOSviewer, RStudio bibliometrix, and CiteSpace to scrutinise a sample of 1,065 Scopus-indexed publications meticulously. This study uncovers central themes and trends in blockchain research by identifying highly productive authors, influential nations, and impactful publications and utilising sophisticated techniques like burst detection and keyword-based cluster analysis. It underscores the immense potential of blockchain technology to revolutionise the financial industry and advance sustainable development goals. However, blockchain technology’s complex policy and societal implications require collaboration among diverse stakeholders to ensure its benefits to society. Therefore, future research must prioritise exploring blockchain’s potential to promote financial inclusion, innovation, transparency, accountability, and sustainable development.
  Keywords: blockchain technology; finance; sustainable development goals; SDGs; financial inclusion; bibliometric analysis.
  DOI: 10.1504/IJEF.2025.10059748
   
  
• International Public Sector Accounting Standard Adoption and Compliance: Implications on Accounting Transparency and Quality in Jordan Public Sector
  by Ahmad Bani Ahmad  
  Abstract: In order to evaluate the adoption and compliance with worldwide public sector accounting standards as well as their effects on accounting transparency and quality in the Jordanian public sector, research was undertaken. The study’s population comprised all 250 Jordan’s Ministry of Finance, employees. The research used a survey approach; 152 participants were randomly chosen from the pool. The respondents’ responses were elicited using a standard questionnaire. Simple percentages and t-test analysis were used to gather and analyse the data. It was determined that the public sector’s adoption of the international public sector accounting system would result in more open data, improve government accountability, and foster a better and more thorough decision-making process. The decision-makers, public sector accountants, the Jordan Ministry of Finance, and the Jordanian public sector are among the many parties to which this research is anticipated to be helpful. It was suggested that the government and authorities ensure that professional accountants have access to training facilities and materials on the idea of international public sector accounting and related concerns.
  Keywords: public sector; accounting; standard; adoption; improvement; transparency and quality; Jordan Ministry of Finance; Jordan.
  DOI: 10.1504/IJEF.2025.10059960
   
  
• A Combined Deep Learning Approach for Fraudulent Detection in The Financial Sector
  by Nripendra Das, Sivashanmugam C, Sameer Shekhar 
  Abstract: One of the crucial topics in the banking sector is fraud detection (FD). The involvement of fraud has significantly increased as new technologies are introduced daily. The main reason why current algorithms cannot accurately identify fraud is because of ineffective feature learning and prediction methods. Most work only concentrated on a few parameters to identify fraud. In reality, though, fraudsters quickly change their identities and other traits. By integrating the two data mining techniques of optimum feature learning (OFL) and precise classification methodologies, this research finds a solution to the issue. The tri-teaching learning (TTL) optimisation approach is used after the system initially gathers the financial data. Then, the fully recurrent neural network (FRNN) algorithm divides the data into legitimate and fraudulent categories. In trials, the proposed feature learning and deep detection methodology improves accuracy (around 98%), precision (93%), and recall (92%).
  Keywords: fraud detection; data mining; deep learning; financial sector; feature extraction; fully recurrent neural network; FRNN; optimum feature learning.
  DOI: 10.1504/IJEF.2025.10060194
   
  
• Exploring Career Intention of Unemployed Youths to Participate in Skill Development Training
  by S. Lakshmi Devi, Simanchala Das, BISWAJIT ACHARJYA 
  Abstract: The unemployment amongst the rural youths in India remains a critical and significant concern. This urgently requires the stakeholders to address this pertinent issue by designing and implementing various skill development training programs to improve the employability of the educated unemployed youths in India. However, there is a problem with the active participation of the potential beneficiaries in the training due to their differing intentions. The previous models used to assess training participation suffer from self-reporting biases, determining the participant’s actual intention difficult. To address these difficulties, we examined TPB's predictive power in predicting unemployed teenagers' career intentions toward DDUGKY, a government-sponsored plan. PIA-selected convenience sampling was used to present a structured questionnaire to 518 jobless youngsters from three Andhra Pradesh districts. The Smart PLS 3 platform used PLS-SEM for data analysis. Attitude, subjective norm, and perceived behavioural control predicted career intention by 71.4 and training engagement by 88.2%. Our study, which employed TPB as a basic theory, had stronger predictive validity than previous training participation models. Policymakers, government agencies, and stakeholders creating and executing skill development programs to reduce rural unemployment can learn from the study.
  Keywords: heory of planned behaviour; TPB; Deen Dayal Upadhyaya Gramin Kushalya Yojna; DDUGKY; career intention; skill development; program implementation agency; PIA.
  DOI: 10.1504/IJEF.2025.10060338
   
  
• The Effects of The Covid-19 Epidemic on Peruvian Nurses' Occupational Stress and Quality of Performance
  by Vicenta Li-Bardales, Norma Ramirez-Asis, Uvaldo Cuno-Chunga, Edwin Asnate-Salazar, Ursula Lezameta-Blas, Edwin Hernan Asis 
  Abstract: This study examines job stress and nurse performance in the emergency department of the Uldarico Rocca Fernandez Hospital in Villa El Salvador, Peru, during the COVID-19 pandemic. The study populations socio-demographic features and physical, social, and psychological stress levels were identified for this purpose. This was done using a quantitative, descriptive, cross-sectional study. 73 nurses, 42 graduates and 21 assistants completed a 34-item questionnaire. We observed extra dangers for frontline nurses. We observed that personal COVID-19 experiences greatly affect medical status, corroborating earlier research. SPSS 26 statistically analysed data. The Uldarico Rocca Fernandez Hospital in Villa El Salvador, Peru, accommodated 73 participants, 42 nursing graduates, and 21 nursing assistants. Research personnel report moderate stress in the first setting (52.10%), high stress in the second (87.50%), and low stress in the third compared to the physical environment (which generates the most stress) (56.30%). Men 2130 and 4150, married or divorced, auxiliary, and 2630 years in the military have greater mild stress. COVID-19 nurses were less stressed, improving teamwork. All essential staff assured study participants enthusiasm. The Villa El Salvador, Peru, Uldarico Rocca Fernandez Hospital could benefit from similar investigations.
  Keywords: COVID-19; quality of performance; nursing stress scale; job stress; multivariate examination of interaction; various psychological and sleep problems.
  DOI: 10.1504/IJEF.2025.10060468
   
  
• Is Right to Health Include Right to Access to Adequate Clean Water? - A Constitutional Perspective on Quality of Life
  by Mahalakshmi J 
  Abstract: Individual Mother Earth is the greatest gift from the universe since it offers many necessities for human survival, including commodities and services. The future of humanity depends on natural conservation. The priceless resource that sustains life is water. Even great civilisations have formed in Nile, Indus, Tigress, and other river valleys. Rapid urbanisation, industrialisation, and population growth degrade water supplies. The main cause of epidemics and viral fevers is water contamination. Typhoid fever, bacillary dysentery, gastroenteritis, cholera, and others are often caused by water pollution. Due to increasing urbanisation and industrialisation, water source contamination has become a major environmental pollution issue. However, the amount of water supplied is fixed, making water scarcity in quantity and quality serious. This study investigates the origins of water pollution generated by human exploitation in a limitless manner, focusing on hazardous bacteria, pathogens, and chemicals that cause serious health difficulties in drinking water. This article examines the concept of Right to Life under Article 21 and focus Right to Life in the context of the Right to Health, which could be structured to enlarge to cover the Right to Adequate Access to Safe Drinking Water.
  Keywords: health includes right; urbanisation and industrialisation; safe drinking water; population growth; human exploitation; hazardous bacteria; humane living; water and health protocol.
  DOI: 10.1504/IJEF.2025.10060482
   
  
• Compulsory License of Cancer Drugs: Patent Vs. Price
  by Mariya Fatma, P.R.L. Rajavenkatesan 
  Abstract: Cancer is one of the deadliest diseases, progressively affecting global populations and contributing to rising morbidity rates. A significant obstacle in oncology is enhancing patient access to expensive, life-saving cancer drugs unaffordable to their income. One of the reasons for the high price of cancer drugs is that these drugs are patented, allowing the pharmaceutical industry to rule the market for a limited period. Though patent law gives a monopoly to the patent holder, at the same time, it also provides the mechanism of compulsory licensing, which the states can deploy to make the drugs accessible in terms of availability as well as affordability. Though compulsory licensing has been used limitedly and for certain diseases only, it is necessary to utilise the mechanism for providing wider access to cancer drugs. The article aims to analyse the provisions of compulsory licensing under the TRIPS Agreement and the DOHA declaration and their importance in providing access to pharmaceutical drugs. It also aims to analyse the future role of compulsory licensing in providing access to cancer drugs in developing countries, especially India.
  Keywords: cancer drugs; compulsory license; DOHA declaration; patent law; and TRIPS agreement; human immunodeficiency virus; HIV.
  DOI: 10.1504/IJEF.2025.10060641
   
  
• A Study on Unfolding Asymmetric Volatility in Selected IT Stocks in NSE
  by Krishnamurthy Subramanya Suryanarayana, V.S. Prasad Kandi, K. Ravi Kiran Yasaswi 
  Abstract: The day trading of Nifty Index futures uses the generalised autoregressive conditionally heteroscedastic (GARCH) model to determine volatility. Our study aims to assess the asymmetric volatility of historical data and forecast future volatility for a small number of carefully chosen giant IT stocks that have been included in the NIFTY IT Index often over an extended time. Preliminary tests like the Ljung Box Test and the Lagrange Multiplier Test are used to get a clear picture of the volatility. The National Stock Exchange, a stand-in for the NSE, was studied for asymmetries. A prior study examined asset prices and volatility in the Indian stocks market. The investigation assessed volatility using asymmetry GARCH. The model limits volatility. EGARCH also captured asymmetric volatility. After determining volatility, the GARCH technique with the GARCH (1, 1) order is used to test statistically. As a result, the NIFTY IT Index exhibits asymmetric volatility. This study shows that open interest has a smaller impact on volatility than volume and that noise trading occurs when there is a complete lack of bidirectional causality in any one occurrence.
  Keywords: National Stock Exchange of India; Information Technology; Daily Returns Volatility; Casula Relation; Generalised Autoregressive Conditionally Heteroscedastic Model; Asymmetric Volatility,.
  DOI: 10.1504/IJEF.2025.10060812
   
  
• Firms Performance and Cryptocurrencies: A Comparative Study before and after COVID-19
  by Abdullah Alajmi 
  Abstract: The primary objective of this study is to investigate the correlation between firm performance and cryptocurrencies while highlighting the significance of blockchain technology in promoting transparency in financial statements. Our findings demonstrate that the impact of cryptocurrencies on firm performance during a COVID-19 outbreak is varied, with mixed results. Specifically, profitability is partially positively influenced by profit but negatively influenced by stakeholders. Moreover, there is a decrease in cash flow from operating activities. It is important to note that our data is limited to a single country, and the lack of legislation surrounding cryptocurrencies in the accounting field is concerning. Additionally, we observed that the level of knowledge about cryptocurrencies differs between our country and others, potentially influenced by cultural factors. The timeframe of our dataset may also influence the understanding of cryptocurrencies and their relationship with firm performance within Kuwaiti firms. Lastly, to the best of our knowledge, our study is the first to examine the impact of COVID-19 on provincial business performance and the utilisation of cryptocurrencies in Kuwait and the broader Middle East region.
  Keywords: cryptocurrency; firm performance; COVID-19; Bitcoins; cultural factors.
  DOI: 10.1504/IJEF.2025.10060813
   
  
• The Impact of Inspirational Techniques on Engagement to Participate in Volunteering Opportunities
  by Sandeep Sandeep, Amit Mittal, Long Tam Pham, Bestoon Othman, Saravanan Sakthi, TRIBHUWAN KUMAR 
  Abstract: The best way to define volunteering is as an unpaid action that typically promotes social welfare. Its primary component of voluntariness sets it apart from other sorts of work. In addition to civic participation or personal compassion, when someone discusses volunteering, they accidentally mention the federal system of gainful work, with which free labour must coexist. Non-profit organisations differ from for-profit ones in several ways. A crucial aspect is that people donate their time and labour to the group’s operations. The ongoing lack of new volunteers is one of the greatest difficulties non-profit organisations face daily. We were interested in learning how non-profits compel and keep their members and whether and how this activity may have been enhanced. According to research on volunteer-involving organisations’ motivating strategies, people are primarily inspired to volunteer by their aspirations for social action and their feelings of usefulness and production at their service posts. The study also demonstrates how rewarding volunteers for their efforts and giving them feedback might motivate them to do better. The study’s findings suggest that incentive strategies used by volunteer-involved organisations must be profitable to both the organisation and its volunteers.
  Keywords: humanitarian; inspiration; independent initiative; adolescents; concert; volunteering opportunities; non-profit organisations; federal system; healthcare and drug development.
  DOI: 10.1504/IJEF.2025.10060918
   
  
• E-HRM: A New Panorama for Retaining Sustainable Employees and Creating Employer Brand
  by E. Hymavathi, Kalpana Koneru 
  Abstract: In the age of commercial digitisation, nothing is exempt from the incredible achievements of science and technology, and the banking and financial sectors are no exception. The unique idea of online human resources management (E-HRM) is developed by applying information technology concepts to the human resources management process. Ensuring that the HRM process is equitable strengthens organisational devotion and works wonders for creating an employer brand. Office politics may negatively impact employee engagement. Because every microtask is automated and recorded while using E-HRM, there will not be any personal politics. This boosts employee retention and recruiting. E-HRM studies on hospitality must identify cultural qualities and devise tools to measure them. Understanding the organisational climate helps optimise service delivery by identifying administrative strengths and weaknesses. Online companies need an E-HRM department. This study explains e-fundamentals HRM’s and value-based philosophies. Additionally, employee value proposition process transparency improves greatly. Numerous international case studies have shown that computerised human resource planning outperforms traditional human capital management practises, especially in commercial organisations. Four research hypotheses were tested in the suggested work and found valid. When E-HRM is adopted at higher levels, organisational performance improves.
  Keywords: electronic human resources management; E-HRM; organisational commitment; employer branding; employee engagement; employee value proposition; employee attraction and retention; degree of performance.
  DOI: 10.1504/IJEF.2025.10060919