Frontiers in Management and Business <p><a title="Registered Journal" href="" target="_blank" rel="noopener"><img class="journalreviewercredits" src="/journal/public/site/images/jasongong/Logo_ReviewerCredits-journal.jpg" alt="ReviewerCredits" align="right"></a><strong>Frontiers in Management and Business</strong> (FMB) (ISSN: 2717-5340) is an open access, continuously published, international, refereed&nbsp; journal&nbsp; on the science of business management which publishes reviews, original research, case studies, etc. The objective of the journal is to provide insights into business and management issues through the publication of high quality research from around the world.</p> <p>Topics of interest include, but are not limited to the following: <br>• Business management and accounting <br>• Leadership <br>• Performance management, appraisal and feedback <br>• Organizational change, development and effectiveness <br>• Economic growth and development <br>• Economics of organizations and industries <br>• Finance and investment <br>• Marketing <br>• Management of technology and innovation <br>• Public administration <br>• Econometrics and finance <br>• etc.</p> en-US <p>Authors contributing to&nbsp;<em>Frontiers in Management and Business</em>&nbsp;agree to publish their articles under the&nbsp;<a href="">Creative Commons Attribution-Noncommercial 4.0 International License</a>, allowing third parties to share their work (copy, distribute, transmit) and to adapt it, under the condition that the authors are given credit, that the work is not used for commercial purposes, and that in the event of reuse or distribution, the terms of this license are made clear.</p> (Snowy Wang) (Alan Tan) Tue, 22 Nov 2022 14:23:11 +0800 OJS 60 Black carbon and other pollutants from brickfields country-wise: Impact assessment and policy guidance under welfare analysis <p>The brick industry in developing world is a vast, coal burning and polluting industry. Nearly 1,500 billion bricks are produced globally each year where 87% &nbsp;are from Asia. China dominates the world in producing bricks using coal combustion and woods as fuels where Australia placed the last. Bangladesh placed the 5<sup>th</sup> in the world, and it mostly uses woods as fuels. These industries are owned privately. It is &nbsp;a type of industry that is mostly driven with business mentality without emphasizing the hygiene and health aspects where government laws are barely active in practices where rapid urbanization has been increasing demand of bricks. But, in most cases, this industry uses inefficient and dirty technology that causes environmental externalities. Brick-kilns inject huge volume of effluent gases. It causes depletion of atmospheric O<sub>2</sub> level. Addressing the issue for policy guidance, this study first analyzes the consequences of these externalities in terms of marginal damage (MD) under neoclassical partial equilibrium demand &amp; supply theory. It further analyzes the reasons of disparity between social-cost and private-cost by conventional marginal damage analysis. Findings show that due to gases emission from brickfields, the marginal social-costs are higher than marginal private-cost. In this economic <em>dilemma</em>, brick-kilns are benefiting with the expense of human-society country-wise. As it has been going on, the rises of brick-prices have been causing upward trends of welfare losses where producer surplus is dominating the total surplus. This consequential economic situation has been causing higher deadweight loss year after year. The reason is that the bricks-customers distribute this expenditure away from now more expensive bricks. Now there is an urgency for national policy actions for ensuring cleaner &amp; sustainable brick production. On this aspect, reforestation efforts can be achieved in multi-faucets including&nbsp; brickfields’ charity and&nbsp; govt. policies on planting trees and for motivational efforts inspiring citizens of this country. These motivational efforts can be in multi-faucets: (a) inspiring “birthday celebration by planting trees”, (b) forcing to use green Tech in brick kilns and (c) conducting research in both phases of govt. and academicians where financial supports can be inspirational.</p> Akim M. Rahman ##submission.copyrightStatement## Tue, 22 Nov 2022 14:01:20 +0800 A quantitative approach to risk-driven strategy formulation: A case study introducing a real-options framework <p>The thesis of this article advocates that a quantitative and analytical approach to the business value <em>vs</em>. risk relationship can effectively support company strategy formulation processes dealing with uncertain business scenarios. Within the grounded theory methodology, a suitable case study was selected among SMEs, and a real-options (RO) framework was applied to address the research question. This inductive-empirical methodology shows that the RO framework, in conjunction with the Montecarlo method, is a valuable tool capable of supporting the best strategy formulation by purposefully connecting risk with business value. Furthermore, it has been demonstrated that the RO framework can maximize business value in markets characterized by deep fundamental uncertainty. This article is of interest to both scholars and practitioners. Strategic thinking research can benefit from the conclusions of this paper by conceptually reinforcing strategy formulation theories based on organizational resource-investment choices exploited through the RO lens. Practitioners can verify the strengths of the RO framework in practice. Moreover, they can adopt the combined use of the RO framework and the Montecarlo method as a leading factor for strategy-setting processes and a trigger for shaping strategic risk management practices within their reference industry.</p> Alberto Bettanti, Antonella Lanati ##submission.copyrightStatement## Wed, 02 Nov 2022 17:12:47 +0800 Pitfalls on strategy execution of an organization: A literature review <p>The purpose of this study is to explore the pitfalls on strategy execution of an organization as organizations often unable to meet objectives and most likely fails, and this is normally attributed due to the inefficiency on the strategy implementation process. To address this gap, the research employed a deductive approach with exploratory research design by focusing on qualitative data as a systematic review of theoretical and empirical studies are more vital for this type of research. The study focused on a systematic literature review (SLR) of 22 peer-reviewed theoretical and empirical studies. By using a review and generalization of the existing approaches followed by synthesizing with relevant model portrayed organizations seriously faced a challenge on implementation phase and the inability to properly address the pitfalls on strategy execution process costs a lot especially to senior and top executives as they are primarily responsible for the successful execution of an organization strategy. Hence, organizations shall establish a clear evaluation system and sense of ownership for successful implementation of a strategy. As a future direction the paper also identified that a more in-depth and field work research in an organizations are vital in order to examine and address the challenges on the implementation phase.&nbsp;</p> Belay Getachew Girma ##submission.copyrightStatement## Mon, 25 Jul 2022 17:03:39 +0800 Investigating and estimating the size of Shadow Economy by using monetary approach: Case study of Malaysia <p>The purpose of this study is to explore and estimate the size of Shadow Economy of Malaysia. This study used annual Time series data from 1980 to 2018, introduced Lending Interest Rate as additional variable for the first time to estimate the Shadow or dim Economy, and focused on the Currency Demand Approach (CDA) which is the best way of estimation the size of S.E. The results of ARDL, Unit Root Test (ADF) and Bound Test have also generated for the purpose. And this study investigated positive relationship between Currency Circulation to Money Supply Ratio and GDP, Inflation, Interest rate, and Total Tax Revenue through ARDL and estimated the required Shadow Economy, and also explored the Shadow Economy of Malaysia and estimated the size of S.E. Size of tax evasion community has also derived by present research which represent that taxes are not the only measures of Shadow Economy.</p> Yousaf Ali Khan ##submission.copyrightStatement## Tue, 12 Jul 2022 12:26:13 +0800 Ensuring risk-free e-banking services in Russian-economy: Policy guidance <p>In today’s e-banking, customers compete for comparative time-saving-options. Banks compete for maximizing profits. But many factors are unpredictable. These are perceived risks factors (PR) that undermines growth trends of e-banking in economy country-wise such as Russia. Bank-deposits, bank-accounts are covered by Deposit Insurance System (DIS) in Russian-economy. However, PR-factors are not covered. It causes abuses. Addressing the <em>dilemma</em>, application of Akim’s model – <em>Voluntary Insurance</em> (VI) as a product can be instrumental attracting more individuals using e-banking. Welfare Analyses are used as guidance for ensuring efficiency-cost or competitive pricing of the VI so that it becomes appealing to both customers and Banks. When bank is an insurance-provider, under asymmetric-information, existence of adverse-selection-group is detected where estimated welfare-cost associated with inefficient pricing created by adverse-selection is small. However, advantageous-selection-group in market results opposite. The findings can be helpful in policy-design ensuring risk-free digital-banking, which can attract policy-practitioners in Russia. Using customers-opinions can facilitate empirical studies. &nbsp;</p> Akim M. Rahman, Saadi Islam ##submission.copyrightStatement## Tue, 21 Jun 2022 15:13:26 +0800 Venture capital, enterprise performance and accounting information quality - GEM listed companies of China <p>Aim of this study’s using the GEM listed companies’ data from 2015 to 2019, finding the relationship between venture capital, accounting information quality, and corporate performance. Through empirical analysis found that venture capital participation has a significant role in promoting corporate performance. Results show that higher accounting information quality has a significant role in promoting corporate performance. The characteristics of venture capital have a significant role in regulating the relationship between accounting information quality and corporate performance.</p> Javed Pervaiz, Bob Qu, Junaid Masih ##submission.copyrightStatement## Thu, 16 Jun 2022 16:50:20 +0800 Structural equation model of entrepreneurship in downtown Mexico during the COVID-19 era <p>Entrepreneurship is a construct that has been measured from two main dimensions: resource optimization and process innovation. The objective of this work is to corroborate the dual structure of entrepreneurship. An exploratory, transversal and psychometric work was carried out with a selection of sources indexed to national repositories. The findings were selected considering the period from the pandemic from December 2019 to April 2022, as well as the keywords of entrepreneurship, innovation and optimization. A factorial structure of two components was found that explained the highest percentage of variance. In relation to the state of the art, it is recommended to include the dimension of opportunism to increase the explained variance and adjust the model to the most recent studies that report a third dimension related to the opportunities of the health and economic crisis.</p> Enrique Martinez Muñoz, Arturo Sanchez Sanchez, Francisco Espinoza Morales, Cruz García Lirios ##submission.copyrightStatement## Wed, 01 Jun 2022 14:48:45 +0800 External factors and economic growth in Tunisia: ARDL approach with structural change analysis <p>This paper examined the effect of external factors on economic growth in Tunisia. The economic analysis was carried out using recent quantitative technique of annual time series data from 1976 to 2017. Based on co-integration test with unknown structural breaks and ARDL bound testing we investigated importance of each factor in stimulating economic growth. Our results show that in the long-run FDI does not affect economic growth. Remittances and imports negatively affect economic growth. Exports promote economic growth such that a 1% increase stimulates economic activity by 0.702%. In the short term, our estimates emphasize a structural break in 1988 linked to the structural adjustment program. Likewise, FDI does not have a significant effect on economic growth while remittances and imports slow economic growth significantly at the conventional level. On the other hand, exports form a relevant engine of economic growth. Therefore, our conclusions imply that political decision-makers in Tunisia must guarantee certain level of training and infrastructure to ensure the gain of transfers of new technologies and experiences related to the FDI. Thus, Tunisia must encourage peoples living aboard to create new investment opportunities instead of just supporting their families for consumption. In addition, the state must develop financial system capable of transferring funds for investment in order to better benefit from remittances. Finally, the government must restrict import of consumer goods and allow import of equipment and machinery goods that promote production and economic growth.</p> Saif Eddine Ayouni, Ramzi Farhani, Mekki Hamdaoui ##submission.copyrightStatement## Mon, 14 Mar 2022 15:26:46 +0800 Theory of capital structure decision: Overview of the banking industry <p>The relevance of capital structure decision in the banking sector is documented in this paper. It contributes to existing literature in a review of previous empirical studies and fundamental theories of capital structure. The study underscored the factors influencing the choice of funding in connection with the market timing theories such as Pecking Order theory and the trade -of - theory. Our investigation suggest that, the choice of capital vary across sectors and industries on the basis of business risks, corporate governance, profitability, internal controls, and efficiency. The study observed that most empirical researchers universally endorsed asset structure, industry volatility, corporate taxes and firm growth as strong determinants of capital structure. The above issues may either improve the solvency position of a form or trigger major financial distress depending on the source of capital.</p> Peter Yao Lartey, Santosh Rupa Jaladi, Stephen Owusu Afriyie ##submission.copyrightStatement## Mon, 28 Feb 2022 15:52:22 +0800 Principles of public internal controls: A mediation role of information and communication <p>While empirical research has demonstrated the critical nature of internal controls, there is insufficient evidence to indicate that they are effective at detecting and preventing irregularities in the public sector. By analyzing the direct and indirect relationships between internal control components, this study focuses on the quality of internal control in Ghana's public sector. In order to determine whether ongoing controls are consistent with sound public policy, a survey was designed and distributed to public sector employees and managers. According to the evidence, public administrators require high-quality information and communication tools to supplement their existing control systems. Additionally, internal controls are significantly influenced by risk assessment and the control environment, whereas monitoring and control activities have a limited impact. Effective internal communication is necessary for the coordination and implementation of control policies.</p> Peter Yao Lartey, Santosh Rupa Jaladi, Stephen Owusu Afriyie, Isaac Gumah Akolgo ##submission.copyrightStatement## Fri, 11 Feb 2022 14:06:21 +0800