International Journal of Economics, Management and Accounting

Relationship between Crypto Currencies and Climate Change

Ismail Bekci — 2025-06-28

Since the emergence of cryptocurrencies in 2008 to the present day, the volatility of bitcoin prices has generated a surge of interest among investors, as it provides an opportunity to profit from excessive price increases. Industry observers refer to it as a “growing energy problem” as bitcoin mining consumes more energy than most countries in recent times. This research study examines the causality relationship between the cryptocurrencies involved in Bitcoin mining and the amount of carbon emissions that lead to climate change. In the research study, the total energy consumption estimates and the predicted trend global CO₂ emission values of Bitcoin and Ethereum cryptocurrencies are discussed. The data used in the research study are the daily time-series data over the period 05.20.2017 - 04.08.2022. The analysis was conducted by performing the Toda-Yamamoto causality test. A bilateral causal relationship was found between Bitcoin and CO₂ emissions; whereas no significant connection existed between Ethereum and CO₂emissions. In conclusion, the high energy consumption of cryptocurrencies and the resulting CO₂ emissions pose significant environmental challenges, bringing the sustainability of cryptocurrencies into question. In this context, efforts to increase the share of renewable energy in energy consumption of cryptocurrencies need to be accelerated. Additionally, this study will contribute to the development of theoretical foundations in this field.

How Corporate Social Responsibility Affects Organizational Sustainable Performance: The Mediation Role of Green Innovation and Green Human Resource Management

Muliati Usman — 2025-06-28

A company or business organization can achieve sustainable performance only when it is able to carry out organizational processes, functions, or operations so that the business or organization's activities do not damage environmental quality. Therefore, business or organizational transactions must be carried out with the aim of producing better social interactions with stakeholders such as suppliers, consumers, the general public, and the authorities. This research aims at exploring the direct relationship between Corporate Social Responsibility (CSR) and Organizational Sustainable Performance by involving the role of Green Human Resource Management (GHRM) and Green Innovation (GI) as mediating variables. Further, this study was conducted by using a literature review as a methodology in order to address the gap on these issues. The result of this study views an organization as a collection of human, physical, and organizational resources. These resources are valuable and incomparable for the green practice. Thus, they are a major source of sustained competitive advantage and sustainable performance. While for sustainable, three important ideas can be applied, i.e., considering the needs of future generations, institution matters, and new ways of thinking and perceiving. Finally, this study is expected to become a foundation for promoting sustainable performance of organizations that helps organizations to achieve competitive advantage by cultivating environmental awareness as part of their organizational strategy, which is also known as green management. Furthermore, this study provides new insights or knowledge for further research by developing a novel research model as a basis for further empirical research.

Mood and Emotion Effect on Auditor Judgment and Decision-Making: A Systematic Literature Review

Dovi Septiari — 2025-06-28

This study analyzes the trends, progress, and opportunities for future research on the relationship between emotions, moods, and auditors’ judgment and decision-making (JDM). We included 24 articles from the Scopus database through a systematic review process using the framework of Hoque (2014) in our literature review. Bibliometric analysis shows interesting developments in the topics of mood, emotion, and auditors' JDM. In particular, the results highlight the evolution of publications in top accounting journals, theoretical development, research context and setting, methods used, and statistical analysis tools. The findings also map the study areas covering five main topics: risk and probability assessment, risk decisions, ethical assessment, conflict resolution, and commitment to professional decisions. In general, previous studies show that emotions and mood can influence auditor judgment when assessing the risk and probability task, affect conservatism, ethical judgment, conflict resolution strategies, and commitment to the profession. One limitation is that the number of articles is small because the related studies are underexplored. Nevertheless, this study contributes to mood and emotion research on auditor JDM by discussing research trends, highlighting current study progress, and identifying future research gaps. We highlight opportunities for further exploration in this field.

Islamic Finance and Poverty Reduction in African Countries: An Empirical Analysis

Adamu Ahmed Wudil — 2025-06-28

This paper examined the effect of Islamic finance on poverty reduction in 53 African countries over the period 2013 to 2022. Islamic finance, based on Islamic principles and values, emphasizes ethical conduct, social responsibility, and promotion of social welfare. Poverty remains a pressing issue in many African countries, and traditional financial systems have for long struggled to effectively address this challenge. Islamic finance offers unique features and mechanisms that can contribute to poverty reduction efforts. This study employs a panel System Generalized Method of Moments (SGMM) estimation technique and explores the empirical evidence on the relationship between Islamic finance development and poverty reduction, while controlling for other variables such as foreign aid, government budgets, and government effectiveness. The findings indicate that Islamic finance development, foreign aid, and government budgets have significant positive effects on poverty reduction, while government effectiveness has a negative effect. Thus, the findings highlight the potential of Islamic finance in poverty reduction in African countries and provide valuable insights for policymakers, practitioners, and researchers in harnessing the benefits of Islamic finance for inclusive and sustainable development.

Competing Measurement Models of Maqasid Shariah-Based Sejahtera Living

Muhammad Irwan Ariffin — 2025-06-28

The study examined four competing models, which are unidimensional model, correlated-factor, second-order factor, and bifactor model, using confirmatory factor analysis (CFA). It aimed at identifying the best-fitting model that measures sejahtera living (SL), an inventory which is based on maqasid shari‘ah. The study also evaluated the statistical properties of the optimal solution, in terms of factor dimensionality and reliability. An online self-reported SL inventory was created to collect the data. It is a questionnaire containing 21 content-validated items measuring five facets of SL, namely the preservation of religion, life, intellect, dignity, and wealth. A total of 461 employees and 596 students at a public university participated in the study. The bifactor model best fitted the data. The model yielded results that all items loaded on their specified dimensions. In addition, it confirmed the presence of a general factor that influenced the variability of responses across all items. The bifactor model confirmed the contributions of the general factor to the reliability of the SL inventory. The results indicate that inventory is an effective tool for assessing research and educational practices related to a good life.

Analyzing Determinants of Islamic Stock Market Performance in Indonesia and Malaysia

An'im Kafabih — 2025-06-28

Indonesia has higher volatility in Islamic stock market compared to Malaysia. As volatility of each market is derived from its Islamic stock performance, the goal of this paper is to analyze determinant factors of Islamic stock market performance in Indonesia and Malaysia. Using inflation and exchange rate as monetary policy objectives (MPO) and VIX (investors fear and market volatility), and gold price as global indicators for independent variables, ARDL bound test is performed with monthly Indonesia and Malaysia data. Indonesia data are gathered from December 1994 to February 2023, whereas Malaysia data are from January 2010 to February 2023. The results show that inflation and exchange rate become the main driving force of Islamic stock market performance in Indonesia in the long run, while the exchange rate is true for Malaysia. In the short run, inflation become the driving factor of Islamic stock performance in Indonesia and Malaysia. This paper also finds that gold investment able to become safe-haven asset in Indonesia in short and long run, while in Malaysia gold investment can be a safe-haven asset in the short run only. This paper also finds that VIX do not have any significant result only in Indonesia in short run. Implication of these results are the essential role of Central bank of Indonesia to achieve its inflation targeting, and the important role to rise capital gain tax.

Do Environmental Innovations, Trade and Economic Growth Affect the Ecological Footprint in Industrialized Countries? Panel Augmented Mean Group and Common Correlated Effect Estimations

Mehmet Akyol — 2025-06-28

This study assessed the environmental technological innovation (ETI) of the 13 countries with the highest industrial added value (China, the United States, Japan, Germany, India, the United Kingdom, South Korea, France, Russia, Italy, Mexico, Brazil, Indonesia) over the period between 1992 and 2019. The objective is to evaluate the impact of carbon dioxide (CO?) emissions, trade openness (TO), and economic growth (EG) on the ecological footprint (EFP). In this study, a panel data analysis was conducted utilizing the second-generation PANIC unit root test, the Westerlund cointegration test, the Dumitrescu-Hurlin causality test, and the common correlated effect mean group (CCEMG) and augmented mean group (AMG) estimator methods. The results of the analysis demonstrate that, according to the CCEMG, ETI exerts a mitigating influence on EFP in Indonesia. In numerous countries, CO₂ has been observed to increase EFP, whereas in a select few countries, EG has been found to have a similar effect. Conversely, in China and South Korea, TO has been identified as a factor contributing to an increase in EFP, while in the United States, it has been identified as a factor that contributes to a decrease in EFP. The AMG indicates that ETI results in a decrease in EFP in Brazil and Indonesia, while simultaneously producing an increase in Mexico. While CO₂ is observed to increase EFP in numerous countries, EG is seen to increase EFP in many countries, although this is only the case in India. TO is found to decrease EFP in China, India, South Korea, and Brazil, while simultaneously increasing it in Germany. The empirical evidence suggests that policies aimed at limiting uncontrolled economic growth, prioritising environmentally friendly technological innovations, improving international trade processes and policies with the objective of reducing emissions, and developing environmentally friendly processes and products in production are likely to be effective.

Determinants of Consumers’ Intention to Use Mobile Commerce: DeLone and McLean Perspective

Moussa Barry — 2025-06-28

In the last few decades, substantial progress was seen in mobile commerce development. Although the Internet and smartphones have become more widely used in Malaysia, mobile commerce acceptance is still low. The current study investigates the determinants of intention to use mobile commerce among consumers in Malaysia. Additionally, this study aims at proposing a conceptual framework that emphasizes the impact of information quality, system quality, and service quality on consumer intentions to use mobile commerce in Malaysia. The DeLone and McLean Updated Information System Success Model (ISSM) Theory is the theoretical background of this study's proposed model. Mobile commerce providers must create user-friendly websites, applications, and platforms; they must also provide valuable information regarding their offerings, and provide high service quality to mobile commerce users to build a favourable intention to use mobile commerce in Malaysia. The primary contribution of this research is the conception of a model to examine the determinants of consumer intention to use mobile commerce in Malaysia. This research provides practical insights for mobile commerce service providers, enhancing their understanding of the determinants affecting consumer intention to use mobile commerce. This study will benefit academicians, scholars, students, providers, mobile marketing practitioners, and all industry stakeholders. Since this paper is conceptual, it necessitates empirical investigation to validate the proposed model of this study; thus, additional research is recommended.

The Causality Relationship between Exchange Rate Protected Deposits and Investment Instruments: Evidence from Türkiye

Kubra Saka Ilgin — 2025-06-28

This paper examines the causality relationship and the sign and magnitude of the relationship between the Exchange Rate Protected Deposit (ERPD) application, which was introduced to prevent the negative trend in exchange rates in Türkiye, and the stock market, exchange rate, and interest rate, which are considered as alternative investment instruments. ISE100 index closing prices, USD and EUR prices, weighted average deposit interest rate, and weekly data for the period 18.02.2022-17.11.2023 were used as the data set. Toda-Yamamoto causality, impulse-response, and variance decomposition analysis were applied. It is determined that the application of the ERPD affects alternative investment instruments and it is affected by them. In addition, it has been determined that the order of magnitude affecting the ERPD is as follows: euro prices, deposit interest rate, stock market index, money supply, and dollar prices. It was determined that the ERPD negatively affected the stock market and deposit interest rates. However, it was concluded that the ERPD application could not achieve the target of decreasing the euro and dollar prices. This paper will contribute to the literature, and it is thought that the results will be useful for policymakers, investors, and similar financial actors who wish to learn about ERPD.

Exploring Consumer Preferences: Organic vs. Non-Organic Body Wash Brands in Malaysia

Wen Zhi Ng — 2025-06-28

The COVID-19 pandemic has heightened consumer awareness of personal hygiene, leading to a surge in demand for bath and shower products in Malaysia. Despite this growth, the organic body wash segment has faced challenges, including consumer skepticism due to the proliferation of greenwashing. This study explores the factors influencing consumer choices between organic and non-organic body wash brands in Malaysia, while understanding whether consumers’ choices reflect their environmentally conscious behavior, with a focus on young adults aged 18-25. Through semi-structured interviews, the research draws on the Theory of Planned Behavior and Garvin’s Eight Dimensions of Product Quality to analyze perceived quality, performance, price, and environmental concern. Findings reveal that price is the critical determinant of consumer preference, while perceived environmental concern plays a negligible role, challenging the previous research that suggests individuals’ purchases of organic products reflects environmental concern. Parental influence also emerges as a key factor in the decision-making process, highlighting the importance of family and social influences on consumers’ decisions. The study underscores the importance of transparent marketing and addresses the impact of greenwashing on consumer trust. The research contributes to understanding consumer behavior in the organic personal care sector and offers insights for marketers to refine their strategies. Future research should investigate the sustainable packaging role and expand demographic considerations to enhance generalizability.

Islam and Economics: Shah Wali-Allah's Approach

Azidah Ahmad Zaki — 2025-06-28