Exploring ESG Dimensions in Cambodia: Findings from Various Industries

Purpose: This study explores the integration of Environmental, Social, and Governance (ESG) principles across various industries in Cambodia, aiming to assess current adoption levels, key challenges, and professional perceptions. Methodology: The study used a mixed-methods approach, combining industry assessments, surveys with business professionals, and expert interviews to gather quantitative and qualitative insights. Findings: The results show that while corporate ESG disclosures are generally above average, significant governance transparency and environmental accountability gaps exist. The survey responses indicate skepticism among professionals about the authenticity of ESG commitments, suggesting a potential risk of greenwashing. Expert interviews confirm that ESG awareness is growing, but practical implementation remains limited due to regulatory shortcomings and resource constraints. Implications: The findings emphasize stronger ESG regulations, transparent reporting standards, and enhanced stakeholder engagement to support meaningful corporate sustainability in Cambodia. Originality: This study addresses a notable gap in ESG literature focused on emerging markets, offering industry-specific insights and actionable policy and corporate strategy recommendations. Limitations and directions for future research: Using self-reported data and qualitative assessments may introduce bias. Future research should consider longitudinal designs and cross-country comparisons to monitor ESG progress

Strengthening National Competitiveness: The Evolution of Economic Clusters in Egypt

Purpose: This paper examines the evolution of clusters and economic zone policies in Egypt and assesses their role in improving national competitiveness. Further, it provides insights to developing countries like Egypt on how to strengthen their national competitiveness by effectively leveraging clusters and economic agglomeration policies, such as economic zones. Methodology: The paper critically analyzes existing literature on modern cluster policies and economic zones, illustrating the evolution of economic cluster policies in Egypt. It also evaluates the contribution and impact of economic zones on improving national competitiveness. Findings: Despite recent policy reforms in implementing an economic cluster-based strategy, particularly economic zones, several constraints prevent these economic zones from fully reaching their potential to attract foreign investment and address the national trade deficit in Egypt. While these economic zones increased exports, they didn\u27t sufficiently reduce the national trade deficit. Moreover, the Egyptian Government faces an increasing challenge in maintaining Egypt\u27s position as a leading investment destination in North Africa and the wider region, mainly in front of the face of the increased competition from other emerging economies. Implications: Egypt\u27s recent attempts to implement an economic cluster-based strategy for enhancing national competitiveness highlight the need for closer alignment between the country\u27s economic national strategies, including Egypt\u27s Vision 2030, National Investment Plan, Trade and Industry Development Strategy 2016-2020, and National SME and Export Development Strategies, with the objectives of the economic zone. Originality: This study contributes to understanding how to strengthen national competitiveness in developing countries by examining the evolution of clusters and economic zones in Egypt. It provides valuable insights for academic researchers and policymakers seeking to enhance national competitiveness through strategic economic policies. Limitations and directions for future research: Further research on the impact of economic clusters on leveraging national competitiveness in Egypt could significantly improve related policymaking. Comparative analyses of other countries\u27 experiences could also provide valuable lessons for policy formulation

Positive Effects of Perceived Quality of Parent-Adolescent Communication on Academic Motivation and Achievement of Adolescents

Purpose: This study investigates how the perceived quality of parent-adolescent communication influences academic motivation and achievement among students in a high-stakes academic setting. Methodology: A quantitative, cross-sectional design was employed, involving 278 students from Grades 7 to 10 at a competitive public secondary school in the Philippines. Data were collected using the Parent-Adolescent Communication Scale and the Deo-Mohan Academic Achievement Motivation Scale. The study assessed academic achievement using students\u27 general weighted averages. Stratified random sampling ensured proportional representation across year levels, and multi-category logistic regression was used to examine the effects of communication quality on academic outcomes. Findings: High-quality parent-adolescent communication had a statistically significant positive effect on academic motivation and achievement. Conversely, low-quality communication had a more negative impact on motivation than on achievement. The findings support the Self-Determination Theory, suggesting that supportive communication satisfies adolescents\u27 psychological needs for autonomy, competence, and relatedness, thereby enhancing intrinsic motivation and performance. Implications: The study highlights the importance of parenting programs that promote open, empathetic, and autonomy-supportive communication. Educators and policymakers should consider integrating family communication initiatives into academic support systems to enhance student outcomes, particularly in high-pressure school environments. Originality: This study contributes to the literature by isolating communication quality as a specific dimension of parental involvement and examining its role within a highly competitive academic context. Limitations and directions for future research: The findings are limited to a single school and do not distinguish between maternal and paternal communication. Future research should employ longitudinal designs and explore the effects of specific communication styles

Mall Shoppers and Their Decision-Making from Indian Perspective - A Critical Review of Literature

Purpose: This paper critically reviews the existing literature pertinent to the decision-making styles of mall shoppers in India. It also provides insights for mall owners, store managers, retailers, and sales staff on maximizing the experience of Indian mall shoppers in the light of competition and emerging technologies. Methodology: The paper critically analyzes existing conceptual and empirical literature on consumers\u27 buying decision-making styles, focusing on Indian mall shoppers. Findings: Indian malls have constantly undergone adaptation and changes in both style and substance to entice increasingly sophisticated, fussy, and capricious consumers. Findings suggest that Indian mall shoppers widely exhibit price, recreational, quality, and novelty consciousness decision-making styles but are confused over choice and variety seeking. Implications: The findings draw the attention of mall owners and retail marketers to understand shoppers\u27 insights and orientation regarding product decision-making and store selection. Further, the study connotes specific facts for retailers and mall developers facing dilemmas about choosing the appropriate strategy for targeting shoppers and attracting greater footfall. Originality: This study contributes to understanding the decision-making styles of mall shoppers in India through the literature. It provides valuable insights for academic researchers and marketers about the decision-making of Indian mall shoppers. Limitations and directions for future research: Further research on the buying decision-making styles of Indian mall shoppers, including their changing tastes and preferences, could significantly contribute to design strategies by mall owners and retail marketers. Comparative analyses of mall-preferring shoppers and consumers preferring unorganized retail outlets could add value to understanding decision-making factors

Financial Flexibility at the Crossroads: A Bibliometric Analysis of Research Trends, Thematic Clusters, and Crisis-Driven Evolution

Purpose: This study maps the intellectual landscape and the literature evolution of financial flexibility publications. By examining thematic clusters, trends, and recent crisis-driven developments, this research emphasize the multidimensional impact of flexibility on organizational performance, strategic decision-making, and resilience. Methodology: A bibliometric analysis was cariied out based on the Crossref database and visualized using VOSviewer software. Network, overlay, and density visualization were used to determine thematic structures, temporal developments, and intensity of research. Findings: The results present seven thematic clusters of financial flexibility research, including foundational finance, crisis-based flexibility, strategic and organizational dimensions, macro and policy implications, cognitive flexibility and behavioral finances, governance and moderating impacts, and payout policy-based flexibility. Implications: Managers must balance retention of liquidity and disciplined investment, integrate risk management practices, and rely on governance structures that preclude wasteful slack building. Regulatory policies also needed for increasing liquidity support, facilitating financing, and enhancing corporate governance. Originality: The paper contributes inclusive bibliometric mappings of literature on financial flexibility. By blending the combination of thematic clusters, temporal, and density analysis, it describes the intellectual trajectory of the concept, identifies hotspots of research, and outlines future potential. Limitations and direction for future research: The study is limited to Crossref-indexed literature and thus does not provide a reflection of the whole literature spanned across databases. The future study should expand to various bibliographic sources and explore cross-disciplinary contexts, such as cognitive and behavioral dimensions

Public Investment, Infrastructure, and the Competitiveness of Small and Medium Enterprises: Empirical Evidence from Vietnam’s Fiscal Expansion

Purpose: This study examines the impact of public investment and infrastructure development on the competitiveness of small and medium-sized enterprises (SMEs) in the context of Vietnam’s recent fiscal expansion. Methodology: The study employs a quantitative approach using panel data from Vietnamese provinces over the period 2015 - 2023. Data are collected from official sources, including the General Statistics Office, the Ministry of Planning and Investment, and the World Bank. Fixed-effects regression models are applied to estimate the relationship between public investment, infrastructure, and SME competitiveness while controlling for firm- and region-specific factors. Findings: The results indicate that public investment and infrastructure development have a positive and statistically significant effect on SME competitiveness. In particular, investment in transport and digital infrastructure shows the strongest impact on productivity growth, market expansion, and export participation of SMEs. Implications: The findings suggest that policymakers should prioritize efficient allocation of public investment toward infrastructure sectors that directly support business activities, especially transport and digital connectivity, to enhance regional competitiveness and SME performance Originality: This study provides new empirical evidence from an emerging economy by linking fiscal expansion, infrastructure investment, and firm-level competitiveness. It contributes to the literature by offering a regional-level analysis of how public investment policies shape SME performance in developing countries. Limitations and directions for future research: This study is limited by the use of secondary data at the provincial level and the focus on a single country context. Future research could employ firm-level microdata, explore causal mechanisms using quasi-experimental methods, and extend the analysis to cross-country comparisons

The Influence of Macroeconomic Variables on Indonesia’s Non-cyclical Sector Stock Price Index Post-COVID-19 Pandemic

Purpose: This study aims to analyze the effect of macroeconomic variables, namely the exchange rate, inflation, Real Sales Index (RSI), and M2, on Indonesia\u27s non-cyclical sector stock price index after the COVID-19 pandemic. Methodology: The study uses multiple linear regression to evaluate the partial and simultaneous effects of the study\u27s selected variables on Indonesia\u27s non-cyclical sector stock price index. Findings: The results show that the exchange rate, inflation, and RSI partially do not have a significant impact, but the M2 broad money supply variable has a significant effect on the stock price index of the non-cyclical sector. These four variables simultaneously significantly influence the non-cyclical sector\u27s stock price index. Implications: The findings indicate that although some of the macroeconomic independent variables\u27 influence on the stock price index of the non-cyclical sector tends to be weak, these variables together influence the movement of the stock price index. Originality: The study provides insights for investors and policymakers on the importance of considering macroeconomic dynamics in managing portfolios and maintaining the stability of the non-cyclical sector. Limitations and directions for future research: The study focuses only on the non-cyclical sector specific to a country, and the data is limited to the post-COVID-19 pandemic, from June 2023 to August 2024. Future research could explore incorporating additional relevant variables and broadening the scope to include a more diverse range of sectors and regions

Financial Leverage and Performance of Listed Information and Communication Technology Companies in Nigeria

Purpose: This paper examines how the leverage component of the capital structure determines the performance of Information & Communication Technology (ICT) Companies in Nigeria. Methodology: Data from six listed ICT firms in Nigeria were used, covering the period 2011- 2023. Descriptive statistics and robust Pooled Ordinary Least Squares regression were used for the analysis. Findings: Results indicate that the short-term debt ratio does not determine performance, and the total-debt-to-equity ratio has a detrimental effect on financial performance, as measured by return on equity. Implications: The study has provided value by adding to our understanding of how the performance of ICT firms is influenced by debt. The Pecking Order Theory\u27s prediction was confirmed by the negative effect of debt on performance, with several implications. The Central Bank of Nigeria, through its monetary policy, is encouraged to cut down the cost of borrowing to enhance shareholders’ wealth through increased earnings and investment. Originality: This research is among the very few that enrich our understanding of how leverage impacts performance in a vibrant sector, such as ICT in Nigeria. Limitations and directions for future research: Despite the valuable contributions, the focus on firms in the ICT sector, which limits generalizability to other contexts, and the selection of leverage and performance proxies constitute vital limitations. Future research should examine other sectors, employing additional leverage measures (debt-to-equity ratio and interest coverage ratio) and performance measures (Tobin’s Q and earnings per share)

ESG Integration and Cost of Capital: Microsoft\u27s Sustainable Finance Transformation

Purpose: This study examines the relationship between Environmental, Social, and Governance (ESG) integration and the cost of capital for Microsoft Corporation from 2015 to 2025, analyzing how comprehensive sustainability initiatives influence borrowing costs, credit ratings, and investor valuations. Methodology: Employing a mixed-methods longitudinal case study design, this research combines quantitative analysis of financial metrics (bond yields, credit spreads, cost of debt) with qualitative thematic analysis of ESG initiatives. Secondary data sources include Microsoft\u27s annual reports (2015-2025), sustainability disclosures, credit rating reports, and market data from Bloomberg and Refinitiv databases. Findings: Microsoft\u27s ESG integration strategy correlates strongly with favorable cost of capital outcomes, including maintenance of AAA credit ratings across all major agencies, bond yields approaching Treasury rates (spread compression to 8 basis points), and statistically significant negative correlations (r = -0.82, p < 0.001) between ESG performance scores and cost of debt. The company\u27s carbon-negative commitment, water-positive initiatives, and circular-economy programs demonstrate measurable financial value creation by reducing financing costs. Implications: Findings validate the business case for strategic ESG integration, demonstrating that proactive sustainability investments create quantifiable financial value by reducing capital costs. Microsoft\u27s framework provides actionable insights for technology firms seeking to optimize capital structures through ESG excellence. Originality: This research addresses the limited empirical evidence on ESG-cost of capital dynamics within the technology sector, providing a longitudinal analysis of the sole major corporation maintaining universal AAA ratings while executing transformative sustainability commitments. Limitations and directions for future research: A single-case design limits generalizability across industries and firms with different resource endowments. Future research should pursue comparative technology-sector analysis and longitudinal studies extending beyond 2030 to capture the full impact of realization

The Rise in Food Prices and the Export of Milled Rice in the Greater Mekong Subregion

Purpose: This study examines how responsive the exports of milled rice are to rising food prices in the Greater Mekong Subregion. Methodology: The research employed panel data regression models, including Fixed Effects and Random Effects, and the Pooled Ordinary Least Squares to examine data spanning from 1996 to 2020 for three countries in the subregion: Cambodia, Vietnam, and Thailand. Findings: The results show that milled rice exports from the subregion were responsive to the food price surge of 2008-2009, i.e., exports increased following the price surge. In addition, the production of rice was found to be positively associated with exports.  Implications: The findings emphasize the importance of milled rice exports in the Greater Mekong Subregion. The responsiveness of rice exports to the price surge implies that exporters are ready to increase exports constantly. This provides policymakers with inputs to formulate policies and strategies to increase exports for stabilizing food prices and increasing rice farmers’ income. Originality: The study contributes to the existing body of literature, providing new evidence of the milled rice exports responding to the food price surge by looking into the major rice-exporting countries in the Greater Mekong Subregion. Limitations and directions for future research: The study is not free from limitation due to the unavailability of data, leading to the exclusion of two countries in the Greater Mekong Subregion. The generalizability of the findings may be limited within this region, therefore, setting directions for future empirical studies to incorporate major rice-exporting countries in other regions