Digital Nomadism: Remote Work Practices and Emerging Forms of Entrepreneurship

Digital nomadism has become a novel work style, transforming the global economy and jobs while providing entrepreneurial avenues for profit in a rapidly emerging digital economy. Digital nomadism promotes a new way of life that changes cultural attitudes towards and practices of traditional business; that is, workers are using technologies to facilitate remote work from anywhere in the world, even in traveling, rather than being fixed in one office. This mixed-method, exploratory research project investigates the emergence of digital nomadism and how it is redefining entrepreneurship through two inter-related studies: Study 1 focuses on the use of text mining, sentiment analysis, and social network modeling on a broad data layer; Study 2 includes 75 surveys and 28 interviews with entrepreneurs and freelancers about their observations and experiences. The results of this study show that digital nomadism is clustering around internet hubs, such as Southeast Asia, Eastern Europe, and Central locations in Latin America. The operations of digital nomad entrepreneurs and freelancers cluster around major themes such as freelance contracting, start-ups, selling online courses, co-working spaces, and lifestyle travel, all in industries founded on flexibility, creativity, innovation, or technology, education, sustainability, and networkin

Generalist CEOs and the Cost of Debt: Evidence from Indonesia

This study examines the impact of generalist CEOs on the cost of debt in Indonesia, using data from public companies listed on the Indonesia Stock Exchange (IDX) between 2015 and 2021. Employing panel data regression with a random effects model, Coarsened Exact Matching (CEM), and Heckman's two-stage regression, the results indicate that companies with generalist CEOs incur higher debt costs. Additional analyses confirm that specialist CEOs are associated with lower debt costs, reinforcing the main findings. These results highlight how generalist CEOs, with their broad industry experience, may increase perceived financial risk, leading creditors to impose higher interest rates. From a practical perspective, these findings provide valuable insights for investors, corporate boards, and policymakers in aligning CEO selection processes with firm-specific financial objectives to mitigate risks. From a social perspective, the findings underscore the importance of addressing financial risks associated with generalist CEOs, particularly in Indonesia, where high information asymmetry and inefficient capital markets persist. Elevated borrowing costs could hinder corporate investments and broader economic growth. By integrating these findings into governance practices, this study contributes to sustainable development and financial stability in emerging market

Determinants of digital financial inclusion in enhancing financial well-being among poor households: Evidence from Malaysia

This study examines the factors influencing financial well-being and investigates the mediating role of digital financial inclusion among households with incomes below the national poverty line in Malaysia. The study used Partial Least Squares Structural Equation Modelling (PLS-SEM) and Importance-Performance Map Analysis (IPMA) to estimate the results. This study collected 1,171 responses and found that digital literacy, digital financial service infrastructure, and financial service providers were determining factors of digital financial inclusion. Financial service providers and digital financial inclusion showed a significant relationship with financial well-being. Mediation analysis showed that digital literacy, digital financial service infrastructure, and financial service providers indirectly affected financial well-being through digital financial inclusion. The results of the IPMA showed that financial service providers and digital financial inclusion were the most important factors in achieving financial well-being. Furthermore, financial service providers were the key factor of digital financial inclusion in high-poverty states, while digital literacy was a key factor in moderate- and low-poverty states. The study offers insights for policymakers working towards an inclusive society and provides financial service providers with information to design services that meet the needs of poor households. This study also offers important implications for other developing countries in Southeast Asia that share similar socio-economic and digital challenges

Effect of Trade Surplus on External Debt in Developing Countries: Evidence from General-to-Specific Model

This paper examines the impact of trade openness towards external debt levels in low- and middle-income countries from 1980-2021. Using panel estimation of Fixed Effects (FE) and the General-to-Specific (GETS), the researchers segregated into Model 1 and Model 2, which Model 2 purposely to identify the interaction of international reserves as a potential medium to relate the impact of trade openness and external debt. The finding suggests that independent variables such as GDP growth rate, current account balance, and trade openness are highly significant variables that influence the external debt in the 50 LMICs. The researchers also found a robust interaction between trade openness and international reserves in determining external debt. The result confirms that the positive direct relationship of trade openness increases its coefficient from 0.10% to 0.14% after incorporating the interaction of international reserves in Model 2. The statistical evidence suggests that the inverse interactions of international reserves on trade openness significantly negatively affect external debt. Moreover, the result prevails, continuing to be positive and highly significant. Hence, the researchers can relate that an inverse impact of trade openness on international reserves has negatively affected external debt

The Influence of YouTube Influencer Attributes on Information Credibility and Purchase Intention in Malaysia: The Mediating Effect of Consumer Information Adoption

Consumers are placing greater trust in influencers for information about products and services, appreciating the authenticity of their personal experiences. In Malaysia, women are particularly drawn to beauty influencers on YouTube, trusting their recommendations for cosmetic products. This study seeks to examine the impact of influencer characteristics on the perceived credibility of information and how this, in turn, shapes Malaysian women's adoption of information and purchasing decisions regarding cosmetics. Data were gathered through an online survey utilising purposive and snowball sampling techniques, resulting in 393 responses available for analysis. Structural Equation Modelling (SEM) was conducted utilising IBM SPSS AMOS version 24.0. Findings indicate that the individual traits of influencers significantly influence the credibility of the information they provide. Additionally, information credibility is shown to have a direct effect on both the adoption of information and consumers’ purchase intentions, with information adoption further directly influencing purchase intentions. The study highlights the critical importance of information credibility in connecting influencer attributes with consumers’ willingness to adopt information and make purchases, offering actionable insights for marketers aiming to maximise the effectiveness of social media influencer collaborations

Indonesian, Korean, and French Sheet Masks: Three Alternatives in a Hybrid Choice Model of Indonesian Women's Choice Decision

Women's choice decision has gained lots of attention in the literature, particularly regarding how they evaluate attributes that are similarly important. The Indonesian skincare market is one of the most attractive markets, not only for local but also global producers of skincare products. This paper aims to provide an in-depth analysis of factors that affect Indonesians when they choose facial sheet masks (SM) from three countries—Indonesia, South Korea, and France—and to examine respondents' preferences with regard to local or imported SM products. This study used a mixed method, starting with exploratory research to find the levels of attribute for each alternative. A hybrid choice model is later established with Python Biogeme to find significant factors, demand elasticities, and willingness to pay. From its exploratory research, this study ascertained several attributes such as price, packaging, quality, brand, refreshing effect, halal essence, and attitudes. This study found that price, quality, refreshing effect, halal essence, and attitude significantly influence SM choice decisions from the discrete choice. The results fill a gap in the literature by comprehensively examining product properties and attitudes that affect women's decisions regarding skincare products. It also contributes—particularly for the skincare industry and marketers—to further improve the SM market share, particularly in the Indonesian and Southeast Asian markets

The Effect of Corporate Entrepreneurship Determinants on the Financial Performance of Small and Medium Enterprises (SMEs): An Empirical Study

This paper examines the effect of corporate entrepreneurship determinants on small and medium-sized enterprises (SMEs) financial performance in Malaysia, including the mediator effect of competitive advantage. A cross-sectional design was adopted, where data were collected from a sample of 221 SMEs utilizing an online questionnaire. Hypotheses were tested using the partial least squares (PLS) approach. The findings revealed a significant relationship between the determinants of corporate entrepreneurship (individual, organizational, and external environment characteristics) and an organization’s financial performance. A mediating effect was also found by including an organization’s competitive advantage in its financial performance. A profound understanding of corporate entrepreneurship determinants by focusing on individual and organizational perspectives can assist SMEs in implementing appropriate strategies to achieve desired financial performance. The capability of SMEs to embed employee entrepreneurial behavior in the workplace is likely to achieve the desired financial performance outcomes effectively. This study advances knowledge on corporate entrepreneurship by proposing relevant determinants and the effect of each determinant on an organization's financial performance in the context of Malaysian SMEs. 

The Impact of Green Bonds on Firm Value and the Role of ESG: Revisiting the Stakeholder Value Maximization Theory

This study evaluates managers’ motivations in decision-making and whether they aim to maximize value or meet environmental and social pressures at the expense of value. The authors utilize green bonds as a treatment and measure changes in firm value data using Tobin’s Q, controlling for times and individual fixed effects and several company characteristics. This research documents the positive impact of issuing green bonds on a firm's value using the difference-in-differences (DD) method. Our findings are confirmed over the aggregate sample and most of the industry subsample, whereas we observed negative associations between green bonds and firm value only in the industrial subsample (comprising industrial and commercial services, industrial goods, and transportation). These findings align with the hypothesis of the stakeholder value maximizing theory. So, we suggest that, based on the data we analyzed about green bond issuances, companies choose to issue green bonds to increase their overall value

An Ethical Leadership Style and Pro-Environmental Behavior: The Mediating Role of Moral Efficacy

To better comprehend the strategies that leaders follow in shaping their organizations, the study of ethical leadership has become increasingly relevant. This study investigates pro-environmental behavior and ethical leadership using a survey of 420 employees from various manufacturing organizations. It examined moral efficacy's role as a mediator between ethical leadership style and environmental behavior, drawing on insights from the social learning theory. The study employed structural equation modeling to test hypotheses. The findings indicate that there is a significant association between ethical leadership, pro-environmental behavior, and moral efficacy. The moral efficacy of employees serves as a mediator in the association between ethical leadership and pro-environmental behavior.  It is important to note that moral efficacy does not act as a significant mediator in the relationship between ethical leadership and pro-environmental behavior. This analysis is specifically focused on the manufacturing sector; however, additional research may be performed in the context of service sector enterprises. It is recommended that moderating and mediating variables such as self-esteem, job involvement, and moral courage be explored in future studies to enhance the comprehension of the construct of ethical leadership

Do Consumers Perceive Impulsive Buying and Pain of Payment? E-Commerce Transactions Using Pay Later, E-Wallet, and Cash-On-Delivery

This study investigates how modern payment options, pay-later, e-wallets, and COD affect online shopping behavior, specifically on impulsive purchases and the feeling of regret after spending, known as the pain of payment. While numerous studies have individually assessed the impact of these payment modalities, there was a paucity of research examining the combined effect of these three contemporary payment methods within experimental frameworks. This study also examines whether buying groceries or fashion items influences these behaviors. The research involved 162 consumers divided into 6 groups based on the type of payment method (pay-later, e-wallet, cash-on-delivery) and type of products (grocery and fashion). The study found that the chosen payment method has no significant impact on impulsive buying behavior. However, customers are more likely to purchase fashion items impulsively than groceries. The pay-later option, especially for fashion items, led to the most impulsive buying and the strongest feeling of payment regret. On the other hand, using COD for fashion items was the least popular, and e-wallets generally led to lower overall spending. The study also found that people spend more time shopping for groceries than fashion. Both thought processes and emotions influenced the decision to buy. Interestingly, paying with COD helped improve self-control and reduce negative feelings. Based on the control theory of self-regulation, this research provides insights into managing spending and achieving customer financial goals, highlighting the connection between payment options, impulsive buying, and consumer well-being.