A comparative earnings manipulation analysis using beneish m score and dechow f score: The case of a ZSE selected firm

Background: The study seeks to compare Beneish M Score and Dechow F score proficiency in financial statement fraud detection utilizing a selected Zimbabwe Stock Exchange listed manufacturing firm. Methods: A quantitative research approach was adopted for the study. The Dechow F Score model and Beneish M Score were utilised in the analysis of secondary data of the selected firm from 2011 to 2015 and during the hyperinflation period relevant financial information from 2021 to 2023. The findings were cross validated with Independent external auditor reports. Finding: There exists no fraudulent financial reporting utilising the F Score model from 2011 to 2015 as the F Score was less than 1. The M score attests to non-manipulation from 2011 to 2014, with 2015 -2.009 reveals manipulation of financials but relatively low risk. The year 2023 has an F Score of 1.151 which falls within the above normal risk category. The Independent Auditor Report (IAR) reveals unqualified audit opinion for the years 2021 and 2023. In the year 2022, IAR exposes a qualified audit opinion. The M Score reveals non manipulation in 2021 and 2023 but manipulation detected in 2022. The findings reveal the Beneish M Score has 87.5% accuracy with Dechow F Score 62.5% accuracy. Conclusion: The period under study from 2011 to 2015 and 2021 to 2023 were selected for the study due constant changes to local currency adoption for which relevant financial information was available. Novelty/Originality of this article: The study provides insight into earnings manipulation models (Beneish M Score and Dechow F Score) in normal economic environment as well as hyperinflation. During periods of hyperinflation, the Dechow F score signified financial statements were high risk validating false positives when compared to the Beneish M Score findings that were in line with IAR opinions

Readiness of regulation and cybercrime mitigation in syirkah-based securities crowdfunding for MSMEs acceleration

Background: This study addresses the urgent need for a robust legal and technical framework to support the acceleration of Micro, Small, and Medium Enterprises (MSMEs) through syirkah-based Securities Crowdfunding (SCF) in Indonesia. The modern economy's increasing reliance on information technology has created a new landscape for financial services, but this digitalization also introduces significant cyber risks that threaten the integrity and security of both investors and MSMEs. We  analyzed common cyber threats such as phishing, ransomware, and social engineering to identify key vulnerabilities within the SCF ecosystem. Methods: This article employs a comprehensive literature review to analyze the theoretical components of legal readiness and cybersecurity mitigation. The research procedure involved a systematic evaluation of various legal documents, academic literature, and official reports from government and cybersecurity agencies. Findings: The findings indicate that while Indonesia has established a foundational legal umbrella for Sharia SCF, the current regulatory framework remains general and normative, lacking detailed provisions on crucial technical aspects like dispute resolution mechanisms and optimal investor protection. Furthermore, cyber threats pose a  significant risk, as evidenced by a substantial number of cyber traffic anomalies in Indonesia's cyberspace. These threats are not merely technical but also ethical, directly conflicting with the Islamic principles of amanah (trust) and justice. Conclusion: This study concludes that a significant gap exists between the general legal framework and the detailed technical requirements needed to ensure security and trust in the digital era. Novelty/Originality of this article: The novelty of this research lies in its integrated approach, which combines an analysis of the legal and regulatory gaps with a comprehensive review of cybercrime threats, and frames both issues within the ethical principles of Islamic law. It also highlights the lack of research on cyber threats targeting the Linux operating system, particularly within the Indonesian fintech sector

Insurance claim settlement delays and their consequences for service quality and financial management

Background: Delays in health insurance claim payments remain a persistent challenge for healthcare providers in Indonesia, particularly private clinics that rely heavily on insurance reimbursements for operational sustainability. Methods: This study employed a qualitative case-study approach at MMC using in-depth interviews with clinic managers, administrative staff, and medical personnel, supported by document analysis of insurance claims data from 2022–2023. Data were analyzed using thematic coding and triangulation techniques. Findings: The results indicate a declining proportion of claims paid within the agreed settlement period (N-1, defined as claims settled within one month after submission), alongside a significant increase in delayed claims, including claims settled after two months (N-2) and those exceeding two months (>N-2). Claim payment delays were primarily caused by incomplete medical records, limited administrative capacity, inadequate management information systems, and financial constraints on the insurer’s side. These delays disrupted clinic cash flow, delayed staff salary payments, constrained drug availability, and negatively affected service quality. Conclusion: Late payment of health insurance claims significantly undermines both financial stability and service quality at MMC (a private healthcare clinic in Mataram City, Indonesia). Strengthening administrative capacity, improving medical documentation completeness, and optimizing clinic–insurer coordination are critical strategies to mitigate claim delays and ensure sustainable healthcare service delivery. Novelty/Originality of this article: This study contributes novel insights by explicitly linking claim-settlement time categories (claims settled within one month, two months, and more than two months) with service quality implications at the clinic level, providing empirical evidence from Indonesia’s private healthcare sector

Antecedents and outcomes of green brand image: Perspectives from guests of DOT-accredited hotels

Background: Amid growing calls for environmental accountability in hospitality, this study explores how Green Brand Image mediates the relationship between perceived Green Brand Benefits both functional (e.g., eco-friendly operations) and emotional (e.g., environmental self-expression) and brand outcomes such as trust, loyalty, preference, and perceived sustainable corporate image. Drawing from associative network theory and the hierarchy of effects model, the study builds on recent literature emphasizing the cognitive and affective processes driving green consumer behavior. Methods: Data were collected from 260 guests who stayed at Department of Tourism (DOT)-accredited accommodations in Cebu City, Philippines. Using a structured survey and analyzed through Structural Equation Modeling (SEM). Findings: Study reveal that emotional benefits (β = 0.607, p <0.001) have a more substantial impact on Green Brand Image than functional benefits (β = 0.284, p <0.001). Green Brand Image significantly influences trust (β = 0.740), loyalty (β = 0.716), preference (β = 0.679), and sustainable corporate image (β = 0.743), all at p <0.001. Full mediation was confirmed across all pathways (H8a–H8h), suggesting that brand outcomes are realized only when green benefits are internalized through a credible and emotionally engaging brand image. These results validate the role of emotional engagement in sustainability marketing and highlight the image construct as a decisive conduit for influencing consumer behavior. Conclusion: The study concludes that hotels must combine authentic environmental initiatives with emotionally resonant storytelling to build consumer trust and long-term brand equity. Novelty/Originality of this article: The novelty of this study lies in empirically demonstrating the full mediating role of Green Brand Image in an emerging Southeast Asian tourism context, where green branding is still evolving

Assessing behavioral determinants of sharia gold investment intention: The roles of literacy, motivation, inclusivity, and risk perception

Background: Indonesia has the second-largest Muslim population in the world, which provides a strong potential for the development of its sharia economy. However, in 2024, levels of sharia financial literacy and inclusivity remain low, with inclusivity lagging behind literacy. At the same time, sharia gold investment among young people is experiencing significant growth. This study aims to examine the influence of Islamic economic literacy, motivation, financial inclusivity, and risk perception on students’ interest in sharia gold investment at Universitas Gadjah Mada. Methods: This research applies a quantitative survey approach using a structured questionnaire with a five-point Likert scale. A total of 174 students were selected using purposive sampling. The data were analyzed using ordered logit regression with robust standard errors to determine which factors significantly affect students’ investment interest. Findings: The results show that Islamic economic literacy, motivation, financial inclusivity, and risk perception collectively influence students’ interest in sharia gold investment. However, only Islamic economic literacy and motivation have statistically significant positive effects, while financial inclusivity and risk perception do not show significant influence in the regression model. Conclusion: Improving Islamic economic literacy and strengthening students’ motivation are the most effective strategies to increase interest in sharia gold investment among young people. Novelty/Originality of this article: This study offers a comprehensive explanation of early-stage investment behavior by combining empirical survey data with inferential analysis, providing insights into the factors driving sharia investment interest in Indonesia’s developing Islamic finance market

Marketing management strategies for msmes: Examining the role of service quality, product quality, and price in shaping brand image

Background: The success of a company is closely related to effective marketing management. One of the key elements in marketing is brand image, which is shaped by service quality, product quality, and price. This study aims to determine the influence of service quality, product quality, and price on brand image, both partially and simultaneously. Methods: This research employs a quantitative approach using primary data collected through questionnaires. The sampling technique used is non-probability sampling with a purposive sampling approach. A total of 100 respondents were selected based on Cochran's formula, due to the unknown size of the population. The data were analyzed using multiple linear regression. Findings: The results of this research indicate that there is a positive and significant influence of service quality on the brand image, there is a positive and significant influence of product quality on the brand image, there is a positive and significant influence of price on the brand image, there is a positive and significant influence of service quality, product quality, and price on the brand image. Conclusion: In conclusion, service quality, product quality, and price have a positive and significant effect on brand image, both individually and simultaneously. These findings offer important implications for the development of marketing strategies, particularly for small and medium enterprises (SMEs). Novelty/Originality of this article: The novelty of this research lies in the simultaneous analysis of the three variables' influence on brand image within the context of a local home industry. The focus on SMEs using a quantitative approach makes this study both unique and relevant for designing effective marketing strategies for small business actors

The imperatives of social media entrepreneurship for employment generation and cybercrime reduction among youths in Nigeria

Background: Social media have potentials for entrepreneurship, yet many young people misappropriate and abuse them to perpetrate cybercrime and other anti-social acts. Accordingly, this paper presents the outcome of an empirical research on the imperatives of social media entrepreneurship for employment generation and cybercrime reduction among youths in Nigeria. Methods: The objectives of the study were to examine the level of awareness of social media channels for entrepreneurship, the types of social media channels accessed for entrepreneurship, as well as the gratifications derived from social media channels among youths. The study was anchored on uses and gratifications theory. It adopted the descriptive survey research design, utilising the multi-stage sampling technique to select a sample size of 384 youths aged between 18 and 29 years. A questionnaire instrument designed by the researchers for data collection was deployed, while data were analysed using mean and standard deviation. Findings: On a 4-point Likert scale, the findings of the study revealed that some youths in Rivers State are barely aware of the potentials of social media for entrepreneurship. Among 384 respondents aged 18–29, 51% were aged 18–19; 78.9% agreed that social media increases sales and knowledge, 74.7% accessed Blogs, Facebook, Instagram, and WhatsApp for entrepreneurship, and a grand mean of 2.97 confirmed that social media use significantly improved youths’ livelihoods, market understanding, and wealth creation in Rivers State, Nigeria. Conclusion: Based on the findings, the researcher concluded that harnessing social media for entrepreneurship impacts positively on employment generation, poverty reduction, and leads to cybercrime reduction among youths, thus strengthening the attainment of the United Nations’ Sustainable Development Goal 1, amongst others. Novelty/Originality of this article: This article presents the outcome of an empirical research on the imperatives of social media entrepreneurship for employment generation and cybercrime reduction among youths in Nigeria

Marketing strategy with marketing intelligence to increase the market share of Indonesian Sharia Banks

Background: With the potential market share as the country with the largest Muslim population in the world, the existence of Indonesian Sharia Bank/Bank Syariah Indonesia (BSI) in Indonesia has indeed increased the development of Islamic banking, but has not been able to keep up with the prevalence of conventional bank market share so that both external and internal marketing strategies are needed with the utilization of marketing intelligence. This study aims to identify the characteristics of BSI customers by analyzing processes and performance, including comparing strengths and weaknesses with conventional banks so as to obtain marketing strategies to increase BSI market share. Methods This research is descriptive with a qualitative approach to the data obtained from interviews, documentation, and analysis of research subjects. Findings: The results show that the characteristics of BSI customers are young urban people with higher education and middle to upper economic levels. In BSI's marketing process and performance, the utilization of marketing intelligence is likened to an intelligence cycle, although it is not optimal because it still depends on data from external research companies. BSI has also not optimally implemented Blue Ocean Strategy that utilizes product uniqueness and tends to conduct Red Ocean Strategy to dominate the conventional bank market in increasing market share. Conclusion: The recommended marketing strategies include utilizing product uniqueness to create new markets, developing user-friendly transaction technology and digital platforms, strengthening positioning and brand awareness through Islamic ecosystem-based marketing, and intensifying digital marketing as a brand presence that increases public trust. Novelty/Originality of this article: The novelty aspect refers to the new or innovative elements in a research study that distinguish it from previous work. It includes unique contributions, new methods, or findings that have not been explored before in the field

Impact of factors influencing capital structure: An analysis of the literature on public companies in emerging markets

Background: Capital structure is an important element in corporate financial management, especially for public companies in emerging markets. This study aims to analyze the factors that influence capital structure with a qualitative approach, using data from the financial statements of companies listed on the Indonesia Stock Exchange. Methods: Through content analysis and synthesis of findings from various sources, this study identifies key themes relating to profitability, firm size, liquidity, and asset structure as determinants in financing decision-making. Findings: The results suggest that firms in emerging markets should consider the balance between debt and equity to maximize value and financial stability. Trade-off and Pecking Order theories become the foundation for understanding how firms can achieve an optimal capital structure. Conclusion: The selection of the proper capital structure affects not only the performance and value of the company but also its competitiveness in a dynamic market. Novelty/Originality of the Article: This study is expected to make a significant contribution to the literature on capital structure and financial management, as well as provide practical recommendations for companies in making better financing decisions

The influence of two-factor theory on employee retention: The mediating role of organizational citizenship behavior and the moderating role of leader-member exchange in business management

Background: Globally, firms face a crucial problem with employee retention since it has a big impact on their sustainability, profitability, and productivity. The goal of this study is to propose management interventions that may be implemented to improve employee retention of medical representatives by assessing the Two-factor variables that affect it using Partial Least Squared Structual Equation Modeling. Methods: As part of the research approach, a thorough analysis of existing literatures and studies on employee retention, including scholarly journals was conducted. In the context of investigated study, the findings indicate that employee retention is significantly and positively influenced by factors such as compensation and benefits and promotion. The mediation effect of Organizational Citizenship Behavior to the relationship of compensation and benefits and employee retention; and promotion and employee retention is found not significant. Findings: The results of the study also showed that Leader-Member Exchange positively and significantly moderates the relationship between coworker relations and employee retention; and working conditions and employee retention. Conclusion: The study concludes that employee retention is a complex problem that needs a comprehensive approach to effectively solve.  Although other Two-factor variables did not demonstrate a strong correlation with employee retention, this does not imply that they are not meaningful. It is possible that in the circumstances of the study under investigation, promotions, pay, and benefits are more strongly associated with employee retention. To learn more about this connection, future research may examine what constitutes high-quality LMX and how organizations might promote a favorable culture between leaders and employees. Novelty/Originality of this Study: This study contributes to understanding the specific factors influencing employee retention in the context of medical representatives, with an emphasis on the moderating role of Leader-Member Exchange and its effect on coworker relations and working conditions