Enterprise Development and Microfinance
type: channel
description: Enterprise Development & Microfinance (EDM) contains over 35 years of valuable, practice-based insights into the role of markets, enterprises and financial services in reducing poverty and stimulating economic development. Enterprise Development & Microfinance (ISSN 1755‑1978 print / 1755‑1986 online). A quarterly, peer-reviewed international journal published by Practical Action Publishing (UK). EDM connects rigorous research with practical experience in microenterprise and financial inclusion. Established in 1990 (formerly Small Enterprise Development), it has over 35 years of contributions towards poverty reduction and sustainable development. Enterprise Development & Microfinance (EDM) is a distinguished, peer-reviewed journal that brings together over three decades of impactful scholarship and field-based knowledge on the dynamic interplay between markets, enterprises, and financial services in fostering poverty alleviation and inclusive economic development. Originally launched in March 1990 under the title Small Enterprise Development (SED, ISSN: 0957-1329), the journal has evolved in both scope and influence, maintaining a strong commitment to addressing the real-world challenges faced by micro, small, and medium enterprises (MSMEs), as well as the communities they serve. In March 2008, it was rebranded as Enterprise Development & Microfinance to reflect a broader focus that integrates financial inclusion, market systems, enterprise innovation, and livelihood strategies. What sets EDM apart is its unique blend of academic rigor and practical relevance. Contributions are authored by a diverse global community of scholars, field practitioners, development professionals, and policymakers. The journal’s editorial philosophy centers on producing content that not only contributes to theoretical advancement but also directly informs on-the-ground development practice and institutional strategy. Over the years, EDM has served as a vital resource for: Understanding h…
publisher: Practical Action Publishing
language: en-US
publication name: Enterprise Development and Microfinance
issn: 1755-1978
items: Entreprise Sustainability in Marginalized Communities: A Socio-Economic Analysis of Tribal Entrepreneurs in Kerala
items: Ownership Structure, Financial Leverage, And Company Performance: A Study Of Companies On The Vietnamese Securities Exchange
items: Sustainability As A Lever For Territorial Attractiveness: Qualitative Study For The Case Of The Tangier Automotive Cluster
items: External Responsibility and Internal Innovation: Drivers of Innovative Performance in Indonesian SMEs
items: The Massification Paradox: Why Greater Microcredit Availability May Reduce Entrepreneurial Value Creation — Evidence from the CAPEC Network in Mauritania
items: The profitability ratio analysis of fresh dried seaweed and processed KD foliar fertilizer in Punta Biao, Cogon Digos City, Davao del Sur
items: COMMITMENT OF MICROFINANCE INSTITUTIONS AND SURVIVAL ENTREPRENEURS UNDER FINANCIAL DISTRESS
items: Adoption of Central Bank Digital Currency in the Era of Mobile Money in Ghana
items: Extension Service Delivery Through The Lens of Farmers And Fisherfolks
items: Tourism and Environmental Impact: A Bibliometric Analysis of Two Decades of Research
items: Circular Economy Research in Coffee Systems: Insights for Sustainable Enterprise Development and Value Chain Transformation
items: Profitability and Credit Risk of Savings and Credit Cooperatives. The Case of Peru
items: Motivating Factors for Users’ Behavioral Intention to Continue Using Mobile Wallets After COVID, Coup, Cash Crisis in Myanmar
items: Entrepreneurial Competencies and Green Startup Intentions among Educated Youth in Assam: An Empirical Study
items: Factors Motivating Sustainable Entrepreneurial Practices among Rural Scheduled Tribe Entrepreneurs: An Empirical Analysis in Sonitpur District of Assam
items: Flipped Loan Management in Microfinance: Evidence from a Bottom-Up Target System in Bangladesh
items: SUSTAINABLE FINANCE AND SME GREEN GROWTH UNDER STRUCTURAL CONSTRAINTS: THE ROLE OF FINANCIAL LITERACY IN A FRAGILE ECONOMY
items: Shariah Compliance in Gold Investment: Industry Perspectives on Hadith, Riba and Gharar in Malaysia’s I Finance Sector
items: Islamic Leadership Principles as a Driver of Innovation for Asnaf Development: The Kedah Zakat Experience
items: Microfinance and Women’s Empowerment through Self-Help Groups: Evidence from Southern Tamil Nadu toward Achieving Sustainable Development Goals
items: Critical Success Factors for Microfinance Institutions (MFIs) Survival in Emerging African Markets: A TOPSIS-Based Evaluation
items: The Scientific, Intellectual, Conceptual, and Collaborative Landscape of Digital Hajj Management Research: A Bibliometric Mapping Review
items: Sustainable microfinance as a transforming knowledge domain
items: Public Service Communication in Local Hospitality Perspectives: A Systematic Literature Review
items: The Effects of Corporate Governance, Financial Efficiency on Commercial Banks Financial Performance: Evidence from Kenya
items: Public Governance, Political Patronage, and Local Enterprise Development: A Systematic Literature Review
items: The performance of Islamic microfinance in Mauritania: an empirical analysis of the PROCAPEC case (2019–2023)
items: EFFECT OF TRANSFORMATIONAL LEADERSHIP STYLE, ORGANIZATIONAL CULTURE AND ORGANIZATIONAL RESTRUCTURING ON JOB SATISFACTION AND EMPLOYEE PERFORMANCE
items: Technological Role in the Development of Arsenic Contaminants in Minerals and Its Purification: Evidence from Industrial Organisations in Malaysia
items: Technological Role in the Development of Arsenic Contamination in Minerals and Its Purification: A Systematic Literature Review
items: Business Model Innovation and Performance of Public Universities: Evidence from Kenya
items: The Effect of Financial Technology in Combating International Terrorism Financing in Nigeria, 2009 – 2024
items: Unveiling the Sustainable Resilience of SMEs: A Decadal Bibliometric-Systematic Synthesis of Dynamic Capabilities in Emerging Economies (2014–2024)
items: An Examination of Venture Capital as an Alternative Funding Source for Small and Medium Enterprises (SMEs) within Namibia’s Khomas Region.
items: Artificial Intelligence Adoption in Human Resource Practices: A Review of Literature Across Educational and Corporate Sectors
items: Digital Finance for Development: A Systematic Review of Central Bank Digital Currency Adoption
items: Socio-Economic, Institutional and Climate Determinants of Green Microfinance: Evidence from a System GMM Panel Approach
items: The Influence of Organizational Culture on Employee Performance: A Systematic Literature Review
items: The Festive Marketing Contributing to The Economic Growth in Viksit Bharat @ 2047
items: Developing Future Green Entrepreneurs: The Role of Entrepreneurial Self-Efficacy and Growth Mindset in Higher Education: Evidence from Indonesia and Malaysia
items: Trends and Frontiers in Consumer Minimalism-A Bibliometric Study
items: Financial Literacy for Financial Inclusion: A Community-Based Case Study from South Delhi

Entreprise Sustainability in Marginalized Communities: A Socio-Economic Analysis of Tribal Entrepreneurs in Kerala
type: item
description: This study examines the influence of the demographic factors on the sustainability of the NWFP based enterprises by the tribal entrepreneurs in Kerala with the role of start-ups and other capacity development programmes. The study uses quantitative research design using the primary data collection through questionnaire from 300 tribal entrepreneurs across 3 regions in Kerala. The data were evaluated by using Partial Least Square - Structural Equation Modelling (PLS-SEM) software version 4 for finding the relationship of demographic factors on the sustainability. Demographic factors include Gender, Marital Status, Experience, Community and Line of business. The study findings reveals that entrepreneurial experience is the main factor that influences the sustainability. Other demographic factors show weak direct relationship on sustainability. Marital status does not exhibit on the sustainability of the tribal enterprises. The findings suggest that demographic factors themselves are insufficient for the sustainability unless there are a proper entrepreneurial experience and institutional support. The policymakers and agencies should prioritize capacity building, skill development special training programs to the tribal entrepreneurs. Continuous training, mentorship, and experiential learning opportunities can significantly enhance enterprise sustainability, particularly in NWFP-based livelihoods that are highly sensitive to ecological and market uncertainties.
creator: SULFI P
creator: Asokan Vasudevan
creator: Mohammed Nihal
creator: Livingstone W Tavul
creator: Purvi Pujari
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-05
publication date: 2026-06-05
volume: 36
number: 2
starting page: 1
ending page: 12

Ownership Structure, Financial Leverage, And Company Performance: A Study Of Companies On The Vietnamese Securities Exchange
type: item
description: This research examines how ownership structure influences financial leverage and corporate performance within ceramic tile firms listed on Vietnam's securities exchanges between 2013 and 2023. Through empirical analysis, this study explores the impacts of state and foreign ownership on critical indicators such as financial leverage and return on assets. The findings reveal that higher state ownership correlates with lower business performance, while higher foreign ownership correlates with improved business performance. Additionally, state ownership is shown to negatively affect financial leverage, whereas foreign ownership positively influences financial leverage. These findings offer empirical evidence supporting the optimization of ownership structures within Vietnam's ceramic tile industry, presenting valuable insights for policymakers and stakeholders. The study underscores the strategic significance of effective ownership planning and governance practices in fostering an environment conducive to state and foreign investments, thereby promoting sustainable growth and enhancing competitive advantage.
creator: Tan Huu Nguyen
rights: Copyright (c) 2026
date: 2026-06-08
publication date: 2026-06-08
volume: 36
number: 2
starting page: 13
ending page: 25

Sustainability As A Lever For Territorial Attractiveness: Qualitative Study For The Case Of The Tangier Automotive Cluster
type: item
description: This article analyses how sustainability can be defined as a determining factor to stimulate the attractiveness of the automotive industry in the Tangier region of Morocco. To face the several challenges related to ecology and the global market demands, the industrial areas must place sustainability in the center of their strategies for their competitiveness. To analyse the perception and implementation of sustainable practices, this study relies on a qualitative methodology, involving 60 semi-structured interviews with key stakeholders in the Tangier automotive ecosystem. The selected results have been processed via a thematic analysis using the Nvivo 15 software, which has revealed that sustainability infrastructures (clean energy, waste management), Corporate Social Responsibility (CSR), emission reduction, and the use of renewable energy are key elements that upgrade Tangier as an organized proximity (Torre & Rallet, 2005), the concept of the learning region, and the theory of institutional decoupling for its attractiveness. Moreover, this study emphasizes multiple theoretical frameworks such as organized proximity (Torre & Rallet, 2005), the concept of the learning region, and the theory of institutional decoupling to elucidate the observed dynamics. It highlights that sustainability practices are no longer an option but a foundation stone shaping the industries’ orientation. Taking into account that Tangier is positioned as an attractive hub for Foreign Direct Investment (FDI), the industrial zone continues facing several challenges, calling for a particular focus to integrate the best business and sustainable practices to strengthen its scale.
creator: Manal MESSALA
creator: Ihssan SAOUDI
creator: Brahim BENBBA
rights: Copyright (c) 2026
date: 2026-06-08
publication date: 2026-06-08
volume: 36
number: 2
starting page: 26
ending page: 40

External Responsibility and Internal Innovation: Drivers of Innovative Performance in Indonesian SMEs
type: item
description: In the contemporary global economy, innovative performance of firms is increasingly driven by the effective management of human resources, as employees’ knowledge, skills, and behaviors play a central role in improving processes, and responding to dynamic market demands. Despite the critical contribution of SMEs to the Indonesian economy, many continue to exhibit low levels of innovative performance, thereby constraining their competitiveness and long-term sustainability. Addressing this issue, this study adopts a human resource perspective to investigate how corporate social responsibility (CSR) orientations influence innovative performance through employee-driven organizational mechanisms. Using data collected from 297 SME owners and managers in Indonesia, this study employs partial least squares structural equation modeling to examine the proposed relationships. The findings indicate that environmental CSR orientation and social CSR orientation positively influence innovative performance by strengthening pro-social and pro-environmental values and supporting HR-driven organizational practices. Organizational innovation significantly enhances SMEs’ ability to develop and implement new products and processes and mediates the relationship between CSR orientations and innovative performance. However, innovative work behavior, as an employee-level discretionary behavior, does not significantly moderate these relationships. This study contributes to the literature by integrating stakeholder and dynamic capability perspectives with HRM insights, demonstrating that CSR orientations function as internal signals that shape employee attitudes and behaviors, which in turn drive innovation outcomes. From a practical standpoint, the findings highlight the importance for SME managers and policymakers to align CSR initiatives with HR practices such as employee development and engagement to effectively translate social responsibility into innovation performance.
creator: Towaf Totok Irawan
creator: Ridho Bramulya Ikhsan
creator: Roy Budiharjo
creator: Rusdi Omar
creator: Swarmilah Hariani
creator: Hafiz Abdul Samee Malik
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-07
publication date: 2026-06-07
volume: 36
number: 2
starting page: 41
ending page: 59

The Massification Paradox: Why Greater Microcredit Availability May Reduce Entrepreneurial Value Creation — Evidence from the CAPEC Network in Mauritania
type: item
description: While the post-2015 randomised evaluations have established that microfinance produces modest but heterogeneous impacts on entrepreneurial activity, evidence from Sahelian and Islamic contexts remains scarce. This paper tests the heterogeneity hypothesis in Mauritania, an under-studied case combining low financial inclusion (21 per cent of adults banked in 2021), a hybrid Arab-African cultural setting, and a young microfinance sector dominated by the CAPEC cooperative network. Drawing on a survey of 624 active CAPEC borrowers across the three wilayas of Nouakchott (response rate 83 per cent), we estimate two logistic regression models linking eight microfinance dimensions — grouped under massification of credit and institutional sustainability — to two entrepreneurial outcomes: enterprise creation and value generation. Results reveal a sharp asymmetry: massification variables (geographic proximity, ease of access, communication outreach) significantly drive enterprise creation, while institutional sustainability variables explain value generation only weakly. Most strikingly, the availability of microcredit programmes correlates negatively with value creation, suggesting a saturation or crowding-out effect consistent with cross-country evidence from Andhra Pradesh and Morocco. We interpret these findings through an integrated framework combining agency theory, financial inclusion theory, and institutional theory, and discuss implications for sequencing microfinance policy in fragile institutional environments.
creator: Khadijetou Sghair M’bareck Said
creator: Moulaye Abdel Kader Moulaye Ismail
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-07
publication date: 2026-06-07
volume: 36
number: 2
starting page: 60
ending page: 78

The profitability ratio analysis of fresh dried seaweed and processed KD foliar fertilizer in Punta Biao, Cogon Digos City, Davao del Sur
type: item
description: Abstract This study determined the profitability ratio analysis of fresh seaweed, dried seaweed, and processed KD foliar fertilizer in Punta Biao, Cogon, Digos City, Davao del Sur. Specifically, the study evaluated net profit sales, return on investment (ROI), net income profit margin, and break-even analysis of the different seaweed products. The research employed a descriptive research design and was conducted from December 2017 to February 2018 among eight identified seaweed farm sites that were beneficiaries of the Integrating Social Entrepreneurship through KD Foliar Fertilizer with Seaweed Farmer Organization (ISE-KD) Project funded by the Commission on Higher Education (CHED). Data were gathered using structured survey questionnaires and analyzed through frequency counts, percentages, and regression analysis. Results revealed that dried seaweed processed into KD foliar fertilizer generated the highest net profit sales amounting to ₱3,371.00 compared to fresh seaweed and dried seaweed alone. It also obtained the highest return on investment at 81.6% and the highest net income profit margin of ₱10.13 per unit, indicating that value-adding activities significantly increased profitability. Break-even analysis showed that fresh seaweed required 200.67 kilograms, dried seaweed required 67.9 kilograms, and KD foliar fertilizer required 55.05 liters to recover production costs. The findings suggest that processing seaweed into value-added products such as KD foliar fertilizer provides greater economic returns for seaweed farmers. The study recommends strengthening value-adding initiatives, improving farming practices, increasing production inputs, and providing financial management training to enhance profitability and sustainability in the seaweed industry.
creator: Dr. Eric E. Rellon
creator: Dr. Harih G. Lopez
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-08
publication date: 2026-06-08
volume: 36
number: 2
starting page: 93
ending page: 115

COMMITMENT OF MICROFINANCE INSTITUTIONS AND SURVIVAL ENTREPRENEURS UNDER FINANCIAL DISTRESS
type: item
description: Commitment leads directly to cooperative behavior, vital for long-term mutually beneficial relationships. When a relationship is weak and not considered in economic transactions, causing a Microfinance Institution (MFI) to disregard a survival entrepreneur’s action, economic agents (i.e., the MFI and the entrepreneur) will lose economic rents. On the other hand, when a relationship is strong, and an entrepreneur’s actions are observed, the resulting economic rents will be such that each party will be better off building a relationship and commitment than not building it. COVID-19 in 2020 and hurricane OTIS in 2023 gave us an extraordinary opportunity to measure the impact of commitment in the interaction of MFI and survival entrepreneurs. Based on 686,657 observations of credits from January 2020 to June 2021 during COVID-19 and 22,384 observations from September 2023 to February 2024 during OTIS23, granted by a Mexican MFI to groups of survival female entrepreneurs, this study analyzes how relaxing credit policies during financial distress times, positively affect entrepreneurs' commitment to the MFI. This means that building relationships and commitment creates and distributes value among economic agents.
creator: FERNANDO ANDRES MOYA DAVILA
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-09
publication date: 2026-06-09
volume: 36
number: 2
starting page: 116
ending page: 138

Adoption of Central Bank Digital Currency in the Era of Mobile Money in Ghana
type: item
description: The global push towards central bank digital currencies (CBDCs) presents a unique challenge in developing economies with established mobile money (MoMo) ecosystems. This study investigates the determinants of CBDC adoption in this context, focusing on Ghana’s eCedi. Data was collected from 1,001 respondents across three eCedi regions in Ghana, complemented by 16 in-depth interviews. The probit analysis show that higher educational attainment, mobile phone ownership, and awareness of the eCedi significantly increase adoption likelihood, with notable gendered variations. Crucially, the decision to adopt is contingent on the eCedi offering superior utility—such as lower transaction costs and enhanced security—compared to incumbent MoMo services. Conversely, concerns over potential fraud and high fees are identified as significant barriers to adoption. This study provides critical insights for policymakers, demonstrating that the success of a CBDC in a MoMo-saturated market depends not on replication, but on offering a demonstrably better value proposition to users.
creator: Edwin Osafoh
creator: Michael Kodom
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-07
publication date: 2026-06-07
volume: 36
number: 2
starting page: 139
ending page: 158

Extension Service Delivery Through The Lens of Farmers And Fisherfolks
type: item
description: This study assessed the effectiveness of agricultural and fishery extension service delivery in the Province of Davao del Sur, Philippines, from the perspective of farmers and fisherfolks. Anchored on the devolution of agricultural functions under Executive Order 138 (Mandanas-Garcia ruling), the research evaluated demographic characteristics, satisfaction levels in planning, project implementation, and monitoring services, engagement levels (awareness, availment, and adoption), and perceived issues in service delivery. A total of 1,329 respondents were selected through purposive sampling from nine municipalities and one city. Data were gathered through validated survey instruments using face-to-face interviews and analyzed using frequency counts and percentages. Findings revealed that while nearly half of the respondents expressed positive satisfaction toward extension services, more than half reported limited or no participation across planning, implementation, and monitoring activities. Engagement levels in awareness, availment, and adoption remained low, with a significant proportion reporting no contact with extension workers. Results indicate a critical need to intensify outreach, strengthen LGU–academe partnerships, improve manpower allocation, and adopt inclusive and technology-driven extension strategies.
creator: Dr. Eric E. Rellon
creator: Dr. Harih G. Lopez
creator: Dr. Graciela L. Caballero
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-09
publication date: 2026-06-09
volume: 36
number: 2
starting page: 159
ending page: 163

Tourism and Environmental Impact: A Bibliometric Analysis of Two Decades of Research
type: item
description: Research Objectives and Scope: This study systematically maps the intellectual structure, thematic evolution, and collaborative networks within tourism–environment–climate change research from 2000 to 2026. Data were extracted from the Scopus database, yielding a corpus of 706 documents across 265 sources, capturing key dimensions such as carbon footprint, climate change adaptation, sustainable tourism, and ecological degradation. Methodology: A multi-method bibliometric framework was employed, integrating descriptive performance analysis — evaluating publication trends, leading authors, and journals — with advanced science mapping techniques including keyword co-occurrence network analysis, Callon-based strategic thematic mapping, Multiple Correspondence Analysis (MCA), and trend topic visualization, implemented via Bibliometrix. Key Findings: The corpus of 706 documents demonstrates a robust annual growth rate of 13.18%, with an average of 44.19 citations per document, produced by 1,841 authors across 265 sources. Scientific output accelerated markedly after 2015, coinciding with the adoption of the Paris Agreement and the SDGs. China led in publication volume (75 documents, 10.6%), followed by Australia and the United States, while Canada exhibited the highest rate of international co-authorship (48.6%). Strategic thematic mapping identified "environmental degradation" and "tourism policy" as Motor Themes — intellectually mature and central to broader scholarly debates — while "carbon footprint" and "environmental impact assessment" occupy Niche status, reflecting methodological depth without full cross-disciplinary integration. "Climate change," "sustainable tourism," and "sustainability" function as Basic Themes — the shared conceptual vocabulary of the field — yet remain theoretically diffuse. MCA revealed a structural bifurcation between adaptation-focused, socio-ecological research and quantitatively oriented carbon-accounting approaches, with a cumulative e…
creator: Trang Thuy Nguyen, Dr. Dinh Cong Hoang, Tha.To Hien
rights: Copyright (c) 2026
date: 2026-06-10
publication date: 2026-06-10
volume: 36
number: 2
starting page: 164
ending page: 181

Circular Economy Research in Coffee Systems: Insights for Sustainable Enterprise Development and Value Chain Transformation
type: item
description: The growing demand for sustainable production systems has intensiQied interest in circular economy applications within coffee systems, particularly in relation to waste valorization, resource recovery, and regenerative sustainability pathways. This study aimed to examine the intellectual structure, thematic evolution, and research dynamics of circular economy research in coffee systems through bibliometric and knowledge-mapping analysis. Bibliographic data were retrieved from Lens.org using a structured Boolean search strategy. After screening and cleaning procedures, 96 journal articles published between 2017 and 2026 were retained for analysis. Bibliometric techniques, co-word analysis, co-authorship analysis, thematic mapping, and network visualization using Bibliometrix and VOSviewer were employed. The Qindings revealed that the Qield is an emerging yet rapidly expanding interdisciplinary domain primarily driven by themes related to coffee waste valorization, circular bioeconomy, sustainability assessment, resource recovery, and supply-chain optimization. The results further showed that research collaboration remains moderately fragmented and geographically concentrated in Europe and Latin America. Although agroecological and regenerative sustainability perspectives have started to emerge, the Qield remains largely dominated by techno-economic and industrial sustainability approaches. The study highlights the need for stronger integration of agroecological, farmer-centered, and socioecological perspectives in future circular economy research within coffee systems.
creator: Regie D. Patagoc
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-08
publication date: 2026-06-08
volume: 36
number: 2
starting page: 182
ending page: 204

Profitability and Credit Risk of Savings and Credit Cooperatives. The Case of Peru
type: item
description: This study reviews the literature that analyses profitability and credit risk of Saving and Credit Cooperatives. Credit risk is a fundamental factor because, different from other financial institutions, Saving and Credit Cooperatives seek risk by lending money to the least guaranteed part of the economic pyramid, and compensate that risk with interest rates higher than market rates. Although cooperatives are not-for-profit organisations, they cannot ignore the importance of sound financial statements, profit and loss, and balance sheet management. The challenge of the cooperatives is twofold: (1) to offer their services to those who cannot obtain credit from the traditional financial institutions and (2) to find a balance between supporting the communities, yet without falling into the ‘easy money’ mismanagement, which over time led to bankruptcy or closure of many cooperatives worldwide, and about 150 in Peru over the last three years.
creator: Gianluca Virgilio
creator: Rosario Del Pilar Heredia Olivera
creator: Carol Beatriz Bao Ratzemberg
creator: Fausto Saavedra Hoyos
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-12
publication date: 2026-06-12
volume: 36
number: 2
starting page: 205
ending page: 224

Motivating Factors for Users’ Behavioral Intention to Continue Using Mobile Wallets After COVID, Coup, Cash Crisis in Myanmar
type: item
description: The current study investigates the factors motivating users to continue using mobile wallets after 3Cs circumstance (COVID, Coup, Cash Crisis) in Myanmar. It adopts the DeLone and McLean information system success model also known as D&M’s ISS model, extended with a trust factor. The total of 342 mobile wallet active users participated in this research. Primary data were collected by employing convenience sampling method and analyzed by using exploratory factor analysis (EFA) and confirmatory factor analysis (CFA) for validity and reliability, and structural equation modeling (SEM) for hypothesis testing. The results demonstrate that system quality and service quality have significant impact on trust and user satisfaction, whereas no significant effect was found for information quality. Furthermore, trust and user satisfaction significantly influence users’ behavioral intention to continue using mobile wallets. These findings extend the original ISS model, especially in the context of continuous usage, and deliver insights for mobile wallet providers into users’ psychological tendencies toward continued mobile wallets usage under the noteworthy conditions.
creator: Phyo Min Tun
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-12
publication date: 2026-06-12
volume: 36
number: 2
starting page: 225
ending page: 244

Entrepreneurial Competencies and Green Startup Intentions among Educated Youth in Assam: An Empirical Study
type: item
description: The growing urgency of climate change and environmental degradation has significantly reshaped global entrepreneurial priorities, positioning green entrepreneurship as a critical pathway for sustainable economic development. In this context, Assam - characterized by rich biodiversity alongside persistent challenges such as youth unemployment and underutilized resources—presents considerable potential for environmentally sustainable ventures. This study empirically examines the relationship between entrepreneurial competencies and green startup intentions and outcomes among educated youth in Assam. Drawing on the theoretical perspectives of sustainable entrepreneurship and human capital development, the study investigates how key competencies, including creativity, environmental literacy, opportunity recognition, strategic planning, and resilience, influence the ability of young individuals to transform environmental challenges into viable business opportunities. A combination of descriptive and analytical methods is employed to assess the role of formal education, skill-based training, and policy support in shaping green entrepreneurial intentions. The findings reveal that educated youth possessing higher levels of entrepreneurial competencies demonstrate stronger intentions toward green entrepreneurship, greater innovation capacity, and a deeper commitment to environmentally responsible business practices. Furthermore, the results highlight the importance of experiential learning and institutional support in enhancing entrepreneurial readiness and sustainability orientation. The study analyse the need for policymakers and educational institutions to integrate sustainability-oriented entrepreneurship education into higher curricula and to strengthen ecosystem support through incubation centers, targeted training programs, and access to green finance. Developing Entrepreneurial competencies among educated youth in Assam can accelerate the growth of green startups, co…
creator: Debajyoti Sarkar
creator: Dr. Anjali Devi
rights: Copyright (c) 2026
date: 2026-06-12
publication date: 2026-06-12
volume: 36
number: 2
starting page: 245
ending page: 262

Factors Motivating Sustainable Entrepreneurial Practices among Rural Scheduled Tribe Entrepreneurs: An Empirical Analysis in Sonitpur District of Assam
type: item
description: Entrepreneurs are increasingly becoming role model for others to follow in a business environment all over the world. Entrepreneurship may be conceived as an individual’s free choice of activities leading to a sustainable life and living. Even though we call nature as mother, in the present environment of consumerism, we need a role reversal and start to have motherly attitude towards nature. This is where sustainable entrepreneurs come in the pursuit for a sustainable growth story. Since, Entrepreneurs are the main stay of an economy of a developing country; hence, their role should be a testimony to their significance in sustainable development. Sustainable entrepreneurs are always motivated by their desire to see the next generations excel on the path of sustainable economic development with harmonious social system and ecology. In this paper it is being tried to find out which can be a factor of motivation and what is the impact of various motivational factors like educational qualification, achievement need, locational factors etc, for the growth of sustainable entrepreneurship among the indigenous Scheduled Tribe people of the second largest district of Assam i.e. Sonitpur District. It has been observed that these Scheduled Tribe people actively engage themselves in the different fields of entrepreneurship that enhance the sustainable development of this rural area. This particular study attempts to provide evidence on how different dimensions of motivations can affect the performance of the entrepreneurs, which at the same time enhances the economic growth with sustainable development.
creator: Dr. Anjali Devi
creator: Debajyoti Sarkar
rights: Copyright (c) 2026
date: 2026-06-15
publication date: 2026-06-15
volume: 36
number: 2
starting page: 263
ending page: 279

Flipped Loan Management in Microfinance: Evidence from a Bottom-Up Target System in Bangladesh
type: item
description: Microfinance institutions frequently depend on centrally imposed loan targets to stimulate portfolio growth and ensure repayment discipline. Nevertheless, the administrative enforcement of hierarchic targets has ever been associated with rising pressure by staff as well as unethical practices in recovery combined with high staff turnover and doubts about the long-term viability of microfinance operations. Although the extant scholarship discusses loan performance, staff motivation, and job satisfaction, there is still a paucity of empirical evidence to clarify the joint influence of participatory target setting mechanisms and institutionalized job security arrangements on the sustainability of loan operations in microfinance institutions. This study fills this gap by conducting an empirical qualitative study about two microfinance institutions operating in Bangladesh that employ bottom-up loan target formulation systems that are based on human-resource Application-based financial transparency and human-centered leadership practices. Drawing upon field-based data gathered from participatory methods, staker-based information-gathering approaches such as focus group discussions, in-depth interviews, systematic observations, cross-hierarchical validation meetings and review of institutional documents, the investigation focuses on the process by which frontline staff decide on the loan disbursement and recovery targets based on field realities, and management assumes a facilitative and validation-oriented role in the process (rather than a coercive enforcement function). The results show that self-determined loan targets foster ownership-based accountability, significantly reduce psychological performance pressure and support ethical loan operations. Real time digital visibility of provident fund and gratuity benefits changes job security from a subjective perception to a verifiable institutional guarantee thereby improving staff trust, retention, and commitment over the…
creator: Muhammad Mahbubur Rahman Mahbubur
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-17
publication date: 2026-06-17
volume: 36
number: 2
starting page: 280
ending page: 298

SUSTAINABLE FINANCE AND SME GREEN GROWTH UNDER STRUCTURAL CONSTRAINTS: THE ROLE OF FINANCIAL LITERACY IN A FRAGILE ECONOMY
type: item
description: Access to sustainable finance is widely recognized as a key driver of environmentally sustainable investment and SME growth. However, its effectiveness remains underexplored in fragile and conflict-affected contexts, where structural constraints may shape how financial and managerial mechanisms operate. This study examines the relationship between sustainable finance and SME green growth, and the moderating role of financial literacy, using firm-level data from 363 Palestinian manufacturing SMEs analysed through PLS-SEM. The results show that access to sustainable finance has a significant positive effect on green growth, confirming its central role in supporting sustainable business outcomes. Financial literacy also has a positive direct effect, highlighting its importance in firm-level sustainability decisions, but it does not significantly moderate the relationship between financial access and green growth. These findings suggest that in structurally constrained environments, managerial capability may be limited by systemic barriers, reducing its ability to enhance the impact of financial resources. The study contributes to the business and economic transformation literature by showing that financial access remains the primary driver of SME green growth, while financial literacy plays a complementary rather than amplifying role
creator: Rabah Abdaljawad
creator: W. Muhammad Zainuddin Wan Abdullah
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-17
publication date: 2026-06-17
volume: 36
number: 2
starting page: 299
ending page: 317

Shariah Compliance in Gold Investment: Industry Perspectives on Hadith, Riba and Gharar in Malaysia’s I Finance Sector
type: item
description: Gold investment remains a central instrument in contemporary Islamic finance due to its historical role as a store of value and its intrinsic characteristics, which align with Shariah principles prohibiting interest-based transactions and speculative financial products. In the Malaysian Islamic finance landscape, gold investment is further shaped by regulatory oversight and Shariah governance frameworks that seek to balance innovation with classical jurisprudential requirements. The rapid expansion of digital gold platforms has raised critical questions regarding Shariah compliance, as gold is classified as a ribawi item subject to riba al-faḍl and riba al-nasī’ah, as outlined in authentic hadiths within Al-Kutub al-Tisʿah. These concerns are particularly significant in Malaysia’s Islamic finance sector, where technological advancement has accelerated the use of non-physical gold transactions. Ensuring compliance requires careful examination of underlying Shariah contracts and operational frameworks. This study investigates Shariah issues in modern gold investment through industry players’ understanding of hadiths, their application of fiqh muamalat principles, the concept of qabḍ (possession), and the use of ijtihad in validating investment contracts. A qualitative methodology, combining in-depth interviews with ten informants including Shariah advisors, fiqh muamalat scholars, academics, and industry practitioners, and document analysis, was employed to capture insights into structuring Sharia-compliant gold products. Findings indicate that industry players primarily rely on secondary references and often lack understanding of the legal rationale (ʿillah), maqasid, and contextual background (sabab wurūd) of hadiths. Key challenges include ambiguous application of qabḍ, riba arising from delayed or unequal exchanges, and gharar linked to ownership uncertainty. A significant gap exists between hadith texts and industry guidelines, resulting in procedural rather than…
creator: Mior Zulfadly Bin Mior Pi
creator: Ishak Bin Suliaman
creator: Norazam Khair Bin Mohd Ithnin
rights: Copyright (c) 2026
date: 2026-06-18
publication date: 2026-06-18
volume: 36
number: 2
starting page: 318
ending page: 343

Islamic Leadership Principles as a Driver of Innovation for Asnaf Development: The Kedah Zakat Experience
type: item
description: This study explores how Islamic leadership practices shape innovation processes within zakat institutions, focusing on Lembaga Zakat Negeri Kedah (LZNK). The research aims to identify various types of innovation and examine leadership values that facilitate innovation for asnaf development. Using a qualitative case study approach, data were collected through document analysis and semi-structured interviews. Then, thematic analysis was employed to explore how Islamic leadership principles shape organizational innovation. The findings reveal that amanah, hikmah, shura and ihsan are deeply embedded in how innovation is perceived and practiced within zakat institutions. These values guide product, process, and system innovations, thereby cultivating transparency, efficiency and asnaf empowerment in zakat governance. The study concludes that zakat institutions can strengthen their innovation capabilities by aligning leadership practices with Islamic ethical principles and system-oriented management. Overall, this research contributes to Islamic leadership theory by linking it with innovation and systems thinking in zakat management.
creator: Rabiatul Adawiyah Che Halim
creator: Azizi Abu Bakar
creator: Mohd Murshidi Mohd Noor
rights: Copyright (c) 2026
date: 2026-06-18
publication date: 2026-06-18
volume: 36
number: 2
starting page: 344
ending page: 368

Microfinance and Women’s Empowerment through Self-Help Groups: Evidence from Southern Tamil Nadu toward Achieving Sustainable Development Goals
type: item
description: Purpose: Microfinance is a widely promoted progressive initiative to provide deprived women with affordable financial services for poverty alleviation. Self-Help Group (SHG) model in India are seen as socially active groups that can facilitate a government’s plans towards achieving the sustainable development goals. This study explores the impact of microfinance on women’s empowerment by assessing its role in improving financial independence, decision-making power, and social status. It examines key factors such as economic empowerment, increased well- being and social& political empowerment, highlighting the role of microfinance in attaining the six SDG goals. Design/Methodology/Approach: A quantitative, cross-sectional approach was employed. Primary data was collected from women beneficiaries of SHG linked with microfinance institutions. The study was conducted across selected districts in southern TamilNadu. Data was collected using a structured questionnaire, the study was assessed using Structural Equation Modelling (SEM) to test the interconnections between micro finance access, empowerment dimensions and sustainable outcomes. Findings: The results suggest that microfinance positively influences women's economic empowerment, also, the factors of increased well- being and the social& political empowerment by enhancing their entrepreneurial activities and participation in household financial decisions. This empowerment of women enables them to raise their living standard and leads to the attainment of SDG goals. Policy Implications : The study emphasizes the need for targeted financial literacy programs, and improved business development services to maximize the benefits of microfinance. Strengthening regulatory frameworks and integrating microfinance with skill development initiatives can further enhance its impact on women’s empowerment. Originality/Value: This study contributes empirical evidence on the role of microfinance in women's empowerment, providing i…
creator: Ms.C.Dhanya
creator: Ms. G.MadhuPrathiksha
creator: Ms.Santhi Appannan
creator: Ms.Barathy Doraisamy
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-18
publication date: 2026-06-18
volume: 36
number: 2
starting page: 369
ending page: 388

Critical Success Factors for Microfinance Institutions (MFIs) Survival in Emerging African Markets: A TOPSIS-Based Evaluation
type: item
description: Microfinance institutions (MFIs) play a crucial role in advancing financial inclusion, promoting entrepreneurship, and supporting poverty alleviation across emerging African economies. Despite their developmental significance, many MFIs continue to face sustainability and survival challenges stemming from financial constraints, institutional inefficiencies, and macroeconomic vulnerabilities. This study identifies and ranks the critical success factors that determine the survival and sustainability of MFIs in six emerging African economies: South Africa, Kenya, Nigeria, Egypt, Ethiopia, and Morocco. Using data from 210 MFIs in the MIX Market database covering 1999–2019, the research employs a multi-criteria decision-making approach, specifically the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), to rank factors derived from a prior Cox Proportional Hazards (Cox PH) survival analysis. The results reveal that GDP growth is the most influential determinant, followed by the rural population share (PERRURPOP). The study contributes to the microfinance literature by combining survival and ranking methodologies, offering a replicable framework for prioritising sustainability determinants that can guide policy, investment, and strategic management decisions in the microfinance sector.
creator: Fortunate Tarwireyi
creator: Irshad Kaseeram
creator: Sheunesu Zhou
creator: Paul Tarwireyi
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-19
publication date: 2026-06-19
volume: 36
number: 2
starting page: 389
ending page: 416

The Scientific, Intellectual, Conceptual, and Collaborative Landscape of Digital Hajj Management Research: A Bibliometric Mapping Review
type: item
description: Understanding digital Hajj management is important for the future development of Hajj administration and to improve the services provided to the pilgrims throughout their spiritual journey. This paper presented a comprehensive bibliometric mapping review with BiblioSpy® to analyse the distribution of document types, trends in citations, global patterns of publication and networks of keyword co-occurrence. The analysis indicates that Saudi Arabia is the most active jurisdiction in terms of research output followed by Malaysia, India and the United States. The majority of the highly cited papers are focused on key issues related to Hajj, such as crowd management through mobile and wireless technologies, emergency preparedness during mass gatherings and the use of the Internet of Things (IoT) for Hajj and Umrah services. The keyword co-occurrence networks reveal the main clusters, including the use of technologies such as the Internet of Things (IoT) and RFID; sophisticated technical solutions for crowd management using AI, machine learning, and computer vision; and contextual themes such as mass gatherings, COVID-19,and healthcare. The study concludes by highlighting the fact that the intellectual structure of digital Hajj management research is highly skewed towards crowd and emergency technological solutions. The study suggests that these findings can be used in future research to explore underdeveloped themes and integrate advanced technologies more deeply for a resilient Hajj administration.
creator: Mohd Zakhiri Md Nor
creator: Norazlina Abdul Wahab
creator: Suraiya Hashim
creator: Mohd Badrul Hakimi Daud
creator: Muhamad Fikri Aziz
creator: Muhammad Izwan Ikhsan
creator: Muhammad Fakhur Ridzwan
rights: Copyright (c) 2026
date: 2026-06-19
publication date: 2026-06-19
volume: 36
number: 2
starting page: 417
ending page: 434

Sustainable microfinance as a transforming knowledge domain
type: item
description: Sustainable microfinance has evolved from an instrument to alleviate poverty into a multidimensional development tool that integrates financial inclusion, social outcomes, and environmental sustainability. However, the research in this field is fragmented across microfinance, green finance, and sustainable finance, and it unclear how these dimensions interact. We address this gap by conducting the first integrated bibliometric and systematic review of sustainable microfinance, based on articles published between 1999 and 2025 (identified in Web of Science and Scopus). We use a mixed-methods design that combines bibliometric mapping with qualitative synthesis to reconstruct the conceptual evolution of the field and identify its intellectual and thematic structure. The results reveal three stages: an initial welfarist phase focused on poverty reduction and women’s empowerment; an institutionalist phase emphasising financial self-sufficiency and operational efficiency; and a recent sustainability-oriented phase that incorporates environmental responsibility, governance quality, and digital transformation. The emerging themes include climate-risk management, renewable energy financing, environmental performance of microfinance institutions, impacts based on gender, knowledge-based financial inclusion, and the role of institutional capacity in shaping development outcomes. From a development perspective, sustainable microfinance intersects with climate vulnerability, persistent inequalities, digital divides, and governance challenges. Nevertheless, there are important gaps regarding theoretical integration, cross-country comparability, how environmental and social outcomes are measured, and the long-term effectiveness of green and gender-oriented interventions. Overall, sustainable microfinance is a promising but under-theorised domain with substantial potential to support inclusive, climate-resilient, and gender-responsive development pathways. We propose a future resea…
creator: Carlos Ordoñez-Vizcaino
creator: Cecilia Téllez-Valle
creator: Pilar Giráldez-Puig
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-06-20
publication date: 2026-06-20
volume: 36
number: 2
starting page: 435
ending page: 469

Public Service Communication in Local Hospitality Perspectives: A Systematic Literature Review
type: item
description: Write down here your paper’s abstract in one paragraph and in no This study analyzed seven previous studies on "Public Service Communication in Local Hospitality Perspectives." This research highlights the importance of cultural integration in e-government services, the role of community engagement in improving service effectiveness, and cultural adaptation in technology. The relationship between local government and community involvement, cultural competence in public administration, as well as the impact of localism on public service communication were also found to play an important role. Using the systematic literature review (SLR) method, it is known that future research includes the development of integrative models that include cultural dimensions, community participation, and technology. Comparative analysis between regions, the role of technology in increasing community participation, and measurement of cultural competence are also suggested. Conducting case studies on successful implementation of local communication strategies and developing local hospitality guidelines are practical steps to deepen understanding and improve public service practices. This research is expected to provide a holistic view of the key factors influencing public service communication in the context of local hospitality and provide a basis for more effective and inclusive policy development in the future
creator: Akhmad Muwafik Saleh
creator: Darsono Wisadirana
creator: Rachmat Kriyantono
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-04
publication date: 2026-07-04
volume: 36
number: 2
starting page: 470
ending page: 479

The Effects of Corporate Governance, Financial Efficiency on Commercial Banks Financial Performance: Evidence from Kenya
type: item
description: Corporate governance and financial efficiency have increasingly become essential determinants of commercial banks, profitability and stability in emerging markets. We examined the effects of corporate governance and financial efficiency of Kenyan banks over a period 2015-2024. Secondary panel data obtained from audited annual reports of commercial banks and Central Bank of Kenya (CBK) supervision reports and Kenya Bankers Association (KBA) publications was analyzed. The study employed two step system Generalized method of Moments (System GMM) estimator with windmeijer-corrected robust standard errors to address endogeneity and capture the dynamic nature of banks’ financial performance. The results produced a significant persistent banks profitability which indicated that the current financial performance is influence by the precious performances. Financial efficiency exerts a positive and statistically significant effect on return on asset(ROA) indicating that efficient resource utilization enhances asset based profitability in commercial banks. However, the influence of Financial efficiency on return on equity remains statistically weak implying that shareholders return may act difference to efficiency enhancements in short term. Furthermore, Interest on deposits negatively affects net interest Margin(NIM) suggesting a reduction in interest based earnings. Corporate governance mechanisms demonstrate mixed effects on financial indicators thus proves that effectiveness of governance practices varies depending on the Financial performance dimension chosen. The study extends the banking and governance literature by examining the joint role of corporate governance and financial efficiency in shaping commercial banks’ financial performance an emerging market setting using dynamic panel estimation techniques
creator: Grace Akinyi odhiambo
creator: Peter Kirimi Njagi
creator: Samuel Ngigi Nyakarimi
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-04
publication date: 2026-07-04
volume: 36
number: 2
starting page: 480
ending page: 503

Public Governance, Political Patronage, and Local Enterprise Development: A Systematic Literature Review
type: item
description: The application of the meritocracy system in the public sector is actually inseparable from the dynamics and various interests of the holders of power authority. This systematic literature review seeks to describe the patterns and structures of political intervention towards the career development of civil servants in a global perspective. Through the extraction of 88 literature published between 2021 and 2025 using the PRISMA guideline, this study yields three main conclusions. The first findings show that the dynamics of leadership transitions at the regional level often open regulatory gaps for authority holders. The shift in strategic positions, which should be based on the competence of the apparatus, has shifted into an arena for the exchange of loyalty wrapped in administrative policies. Furthermore, this pressure that takes place systematically gives birth to a psychological impact on the mental state of the apparatus. The decline in the perception of distributive justice gradually has an impact on the motivation of the apparatus in providing optimal public services. This condition ultimately encourages bureaucrats to build new relationships with political elite networks as a form of adaptive response to the uncertainty of the work environment. The latest findings indicate that efforts to impose overly rigid meritocratic standards as a form of protection against political intervention have proven to be unyielding. A more appropriate approach is the institutionalization of hybrid career governance. This career governance rests on three main pillars, namely leadership exemplary as a protector of bureaucratic integrity, transparency in limiting the discretionary authority of officials, mutations, and the existence of technocratic compromise space that is able to harmonize the political vision of leaders without sacrificing the professionalism of the apparatus. These findings confirm that regional political dynamics should be recognized and positioned as an inhe…
creator: I Made Kristiadi Putra Putra
creator: I Nengah Aristana
creator: Ni Made Dwi Puspitawati
creator: I Nengah Landra
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-09
publication date: 2026-07-09
volume: 36
number: 2
starting page: 504
ending page: 531

The performance of Islamic microfinance in Mauritania: an empirical analysis of the PROCAPEC case (2019–2023)
type: item
description: Islamic microfinance has progressively emerged in Mauritania as an ethical alternative to conventional financing, particularly for populations excluded from the formal banking system on religious or socio-economic grounds. This article empirically assesses the financial and social performance of PROCAPEC, the country's pioneering mutualist Islamic microfinance institution. Drawing on a longitudinal study (2019–2023) of three representative savings and credit cooperatives (CAPECs) — Arafatt Centre, Nouadhibou Nord, and Néma — combined with an institutional analysis of the whole network, we adopt a qualitative, descriptive approach based on semi-structured interviews, document analysis, and quantitative performance indicators. Findings confirm growing social outreach (membership multiplied 5.7-fold between 2007 and 2023), sustained savings mobilisation (MRU 947.9 million at end-2023), and a resilient credit portfolio. Full Shariah compliance, based predominantly on Murabaha contracts, strengthens institutional legitimacy. However, digital lag, weak diversification of participatory contracts, and persistent urban–rural asymmetry constrain financial inclusion, calling for technological innovation, Shariah-compliant financial engineering, and the integration of Islamic social finance instruments.
creator: Moulaye Abdel Kader Moulaye Ismail
creator: Aminetou Abdellahi Ebnou Oumar
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-13
publication date: 2026-07-13
volume: 36
number: 2
starting page: 532
ending page: 547

EFFECT OF TRANSFORMATIONAL LEADERSHIP STYLE, ORGANIZATIONAL CULTURE AND ORGANIZATIONAL RESTRUCTURING ON JOB SATISFACTION AND EMPLOYEE PERFORMANCE
type: item
description: Purpose: This study was conducted to assess the influence of transformational leadership, organizational culture and organizational restructuring on employee performance through job satisfaction. Design/Methodology/Approach: This study used a quantitative survey method. The data was acquired from 160 employees of PT Tunas Sumber Ideakreasi Kimia, Serang, Banten utilizing structured questionnaire. Data were analyzed using AMOS Structural Equation Modeling. Findings: The findings indicated that transformational leadership, organizational culture and organizational restructuring have positive and significant influence on work satisfaction and employee performance. Job satisfaction mediates the interaction between transformational leadership, organizational culture, organizational restructuring and employee performance. Practical Implications: The results imply that managers should enhance transformational leadership practices, foster a supportive corporate culture and manage restructuring procedures carefully in order to improve employee happiness and performance. Originality/Value: The present study enriches the literature of human resource management by integrating transformational leadership, organizational culture and organizational restructuring in one empirical model with job satisfaction as the mediating variable in the Indonesian chemical sector.
creator: Rahmat Sabani
creator: Baso Amang
creator: Syahrir Mallongi
creator: Abbas Selong
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-13
publication date: 2026-07-13
volume: 36
number: 2
starting page: 548
ending page: 566

Technological Role in the Development of Arsenic Contaminants in Minerals and Its Purification: Evidence from Industrial Organisations in Malaysia
type: item
description: Arsenic is a naturally occurring metalloid that is commonly presented in sulfide minerals arsenopyrite, pyrite and galena. Despite the contribution of natural geological processes to background arsenic concentrations within the ecosystems, the level of technological and industrial activities causes the significant increase of arsenic mobilization to the soil, water, and to the atmosphere systems. The growth of mining activities, technologies of mineral extraction, and industry production have increased the debate on the issue of arsenic contamination and its impacts on the environment in the long run. It is thus necessary to know the technological factors that cause arsenic contamination as well as the purification processes that consume arsenic and so reduce its effects to be a sustainable environmental management. The processes applied in the extraction of minerals and the industry involve the use of technology that contributes significantly to the dispersion of arsenic. The mining procedures like open-pit and underground mining subject the minerals that contain arsenic to oxygen and water, which enhance oxidation reactions that liberate arsenic to the environment around them. Other technologies such as mineral processing such as crushing, grinding, flotation, roasting and smelting phenomena enhance further mobility of arsenic through emissions, tailings disposal and chemical transformation processes. Arsenic is also contaminated through industrial processes like burning of coal, smelting and inappropriate waste disposal. This paper examines the influence of technology in arsenic pollution, and also explores the mediating effect of the purifying ability of arsenic in obtaining sustainable results in the management of arsenic. The quantitative research design was applied based on the survey-related data gathered on 200 employees working in the mining and mineral processing sector as well as the industrial organisations in Selangor, Malaysia. The statistical tests w…
creator: Lee Cheun Wei
creator: Muhammad Waqas bin Fareed
rights: Copyright (c) 2026
date: 2026-07-13
publication date: 2026-07-13
volume: 36
number: 2
starting page: 567
ending page: 585

Technological Role in the Development of Arsenic Contamination in Minerals and Its Purification: A Systematic Literature Review
type: item
description: Arsenic pollution is a long term international environmental and human health issue that is linked to natural geological, mineral and ground water and industrialization processes. Arsenic is in a natural form as sulphide minerals like arsenopyrite, pyrite and galena, which are normally found in geologic deposits in relation to metallic minerals. Even though geochemical natural processes contribute to the low levels of arsenic in the soils and groundwater, technological activities associated with mining, mineral processing, agriculture, and industrial production have increased the rate of release into the ecosystems (Bundschuh et al., 2021; Wang et al., 2021). Arsenic pollution has therefore become a very common environmental problem in developed and developing parts of the world. There has been a vast literature on the environmental and health effects of arsenic contamination especially in areas where groundwater has become the major source of drinking water (Rahman et al., 2020). Exposure to water contaminated with arsenic has been known to lead to severe health diseases such as arsenicosis, cancer, cardiovascular disease and neurological diseases that arise due to long-term exposure (Kumar et al., 2024). These dangers show the significance of considering natural and technological factors that determine arsenic mobilization in the environmental setting. The literature review combines multidisciplinary research data on historical background of arsenic contamination, natural and human sources of arsenic in mineral, technological influences on arsenic mobilization, regional patterns of contamination, and purification technologies in arsenic-contamination remedial efforts. The review highlights the two-sidedness of technology as a source of contamination but the next-generation of remediation (Liu et al., 2024). The improvement of analytical techniques of detection, adsorption systems, membrane filtration, and biological remediation techniques have enhanced the managem…
creator: Lee Cheun Wei
creator: Muhammad Waqas bin Fareed
rights: Copyright (c) 2026
date: 2026-07-13
publication date: 2026-07-13
volume: 36
number: 2
starting page: 586
ending page: 604

Business Model Innovation and Performance of Public Universities: Evidence from Kenya
type: item
description: Public universities in Kenya are under increasing financial strain due to reduced government funding and rising expectations for academic and institutional performance. This study explored the role of business model innovation in enhancing university performance, focusing on three key areas: value creation innovation, value proposition innovation, and revenue stream innovation. Data from senior administrators at 32 public universities were analysed using descriptive statistics, correlation, and regression techniques. The findings showed that revenue stream innovation had the most significant positive impact on performance (β = 0.449, p = 0.004), while value proposition innovation had a modest but insignificant effect (β = 0.138, p = 0.458). Value creation innovation showed a negative influence (β = -0.062, p = 0.638). The study concluded that universities should prioritise revenue diversification and external funding to improve financial sustainability and competitiveness while continuing to refine academic and strategic value.
creator: Paul Githinji
creator: Jesse Maina Kinyua
creator: Kirema Nkanata Mburugu
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-14
publication date: 2026-07-14
volume: 36
number: 2
starting page: 605
ending page: 626

The Effect of Financial Technology in Combating International Terrorism Financing in Nigeria, 2009 – 2024
type: item
description: The global governance of international security by state actors in the international environment is becoming challenging because of the rising patterns and approaches of supporting the activities of terrorism. As a result of the rise of advanced Financial Technology (FinTech), state actors face the difficulties of regulating the financial inflow through the advanced Financial Technology. This paper therefore examines the effects of advanced financial technology in combatting international terrorism financing in Nigeria from 2009 to 2024. Adopting a securitization theory which argues that security is not just an objective condition but a speech act, the paper adopts thematic method of analysis to analyze the data gathered to understand the effect of financial technology in combating international terrorism in Nigeria. The paper concludes that Terrorism financing has continued to serve as fuel for terrorist outfits in Nigeria, despite the precautions put in place by the government and agencies, there is yet to be an impactful remedy to eradicate the scourge from the country’s jurisprudence totally.
creator: Murtala Abubakar
creator: Dr Iroro S Izu
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-24
publication date: 2026-07-24
volume: 36
number: 2
starting page: 627
ending page: 644

Unveiling the Sustainable Resilience of SMEs: A Decadal Bibliometric-Systematic Synthesis of Dynamic Capabilities in Emerging Economies (2014–2024)
type: item
description: Small and medium-sized enterprises (SMEs) in emerging economies face institutional voids, financial exclusion, and regulatory volatility that make dynamic capabilities (DCs) essential for organizational sustainability. Yet the literature linking DCs, sustainability, and emerging-economy SMEs remains fragmented across contexts, frameworks, and methods. This study maps the intellectual structure, thematic evolution, and knowledge gaps in this literature through a bibliometric-systematic literature review (B-SLR) combining bibliometric analysis (Bibliometrix, VOSviewer) with PRISMA 2020 narrative synthesis, drawing on Scopus and Web of Science records for 2014-2024. A preliminary analysis of 30 records shows high dispersion across 26 journals, eight thematic clusters led by leadership and human capital, organizational performance, and green sustainability, and a 73.3% Gold Open Access rate. The highest-impact emerging records converge on green intellectual capital and sustainable work behavior in SMEs. A strategic thematic diagram positions digital transformation and SME context as transversal emerging themes, while resilience and innovation management occupy niche positions. The study offers the first bibliometric-systematic cartography integrating Teece's Dynamic Capabilities Framework with Elkington's Triple Bottom Line within the institutional-void landscape of emerging economies, and proposes a categorized research agenda addressing theoretical, methodological, and contextual gaps. Practical implications are drawn for SME managers and policymakers operating under high institutional uncertainty.
creator: Eduardo Fabricio Cabrera Toscano
creator: Mauricio Rubén Franco Coello
creator: Angélica Tamara Medina Armas
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-28
publication date: 2026-07-28
volume: 36
number: 2
starting page: 645
ending page: 665

An Examination of Venture Capital as an Alternative Funding Source for Small and Medium Enterprises (SMEs) within Namibia’s Khomas Region.
type: item
description: Despite the recognized contribution of small and medium-sized enterprises (SMEs) to economic development, empirical studies consistently identify insufficient access to finance as one of the foremost challenges confronting entrepreneurs in both developed and developing economies (Economic Association of Namibia, 2023). Venture capital (VC) presents a practicable solution to this challenge, offering a viable channel for providing much-needed financial support to SMEs. Consequently, venture capital financing has attracted growing attention globally, including within Namibia. Given the concerted policy efforts by Namibian authorities to cultivate an entrepreneurial climate conducive to SME growth and sustainability, the persistently high failure rates among SMEs, and the mounting constraints facing traditional financial institutions, there is a clear imperative to examine venture capital financing as an alternative funding source within the domestic context. Accordingly, this study aims to assess the viability of venture capital investment as an alternative funding mechanism for SMEs operating in Namibia's Khomas Region. The research adopted an exploratory approach, employing an inductive reasoning process and a qualitative research design. Using a purposive sampling strategy, nine participants were selected for the study, representing financial institutions, investment management firms, government agencies, and entrepreneurs/SME owners. Data gathered through semi-structured interviews were subjected to thematic analysis, from which four principal themes emerged, each accompanied by sub-themes: Current financing and mechanism landscape, Enhancement of business sustainability and growth, Factors shaping the Namibian business environment, and Barriers to VC implementation. The findings reveal that Namibia's current financing landscape remains predominantly occupied by traditional banking institutions. Although SMEs access various non-bank financing alternatives, formal v…
creator: Prof. Custon Ziwoni
creator: Prof. Clever Marisa
creator: Dr. Vincent Mwange
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-07-31
publication date: 2026-07-31
volume: 36
number: 2
starting page: 666
ending page: 701

Artificial Intelligence Adoption in Human Resource Practices: A Review of Literature Across Educational and Corporate Sectors
type: item
description: Artificial intelligence (AI) has become a transformative force in human resource management (HRM), reshaping practices across corporate and educational contexts. Despite a growing body of empirical work, no prior systematic review has directly compared AI adoption in HRM across these two distinct yet converging sectors. Guided by the SPAR-4-SLR search protocol, reported according to PRISMA 2020 standards, and grounded in the 5W+H framework for research question formulation, this systematic review synthesises 62 peer-reviewed studies published in Scopus and Web of Science between 2015 and 2024. How results appear follows the TCCM blueprint, yet trust checks rely on five distinct POWER signs. Four questions steer the research - how AI steps into HR across areas comes first; what benefits and snags tag along with AI-HR tools shows up next; differences in how schools use AI-HR compared to businesses takes third place; last is where researchers might look later. Findings point to faster HR work - hiring times drop by about 75 percent, profits climb close to 20 percent - even as intelligent tutors boost learning outcomes between 20 and 30 percent. Still, problems linger - biased systems, shaky data protection, murky decision paths, resistance among workers. Viewed through TCCM lenses, hidden gaps emerge, hinting strongly at future efforts cantered on fair standards, extended cross-sector studies, experimental models, and places usually ignored.
creator: AMAN AMAN
creator: Dr. Anand Kabia
creator: Dr. Sumit Agarwal
creator: Dr. Palak Gupta
creator: Dr. Sonal Jauhari
creator: Dr. Arun Kumar Singh
creator: Dr. Vikas Bhargaw
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-08-04
publication date: 2026-08-04
volume: 36
number: 2
starting page: 702
ending page: 724

Digital Finance for Development: A Systematic Review of Central Bank Digital Currency Adoption
type: item
description: Abstract Central Bank Digital Currencies (CBDCs) are increasingly recognized as a digital finance innovation with the potential to promote financial inclusion, improve payment efficiency, and strengthen the accessibility of formal financial services. Despite growing scholarly attention, evidence on the determinants of CBDC adoption remains fragmented across disciplines and theoretical perspectives. This study systematically reviews the literature to synthesize current knowledge on CBDC adoption, identify dominant theoretical frameworks, examine key adoption determinants, and discuss their implications for inclusive digital finance. A Systematic Literature Review (SLR) was conducted using the Scopus database. From an initial pool of 1,605 publications, a rigorous screening and eligibility process resulted in 58 peer-reviewed articles published between 2016 and 2026 for detailed analysis. The review shows that Technology Acceptance Model (TAM), Unified Theory of Acceptance and Use of Technology (UTAUT), Diffusion of Innovation (DOI), Theory of Planned Behavior (TPB), and Trust Theory dominate the literature. Perceived usefulness, ease of use, trust, security, financial literacy, and social influence consistently emerge as the primary drivers of CBDC adoption, while privacy concerns, regulatory uncertainty, technological limitations, and financial disintermediation remain significant barriers. The findings suggest that CBDCs can contribute to financial inclusion only when supported by user-centered design, adequate digital financial literacy, institutional trust, and enabling regulatory frameworks. The review provides policy insights for governments and central banks seeking to leverage digital finance to promote inclusive and sustainable economic development while identifying priorities for future empirical research on post-adoption behavior and long-term developmental outcomes. The findings indicate that CBDC adoption research is primarily grounded in the Technology …
creator: Faqih Ahmad Muzakky
creator: Deddy Priatmodjo Koesrindartoto
creator: Subiakto Sukarno
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-08-04
publication date: 2026-08-04
volume: 36
number: 2
starting page: 725
ending page: 743

Socio-Economic, Institutional and Climate Determinants of Green Microfinance: Evidence from a System GMM Panel Approach
type: item
description: This study examines the socio-economic, institutional, and climate-related determinants of green microfinance in developing countries. Using a panel of 20 African countries over the period 2010–2025, the analysis applies a dynamic panel data model estimated through the two-step System Generalized Method of Moments estimator. The study contributes to the literature in two main ways. First, it introduces a rural climate vulnerability variable, CLIM_RURAL, constructed as the interaction between a climate shock index and the rural population share. Second, it employs a composite green_microfinance index that captures the multidimensional nature of green microfinance, including green loans, environmental policies, environmental screening, and awareness-raising activities. The empirical results show that rural climate vulnerability has a positive and highly significant effect on green microfinance, suggesting that climate shocks affecting rural populations increase the demand for green financial products. Institutional quality also exerts a positive and significant effect, indicating that stronger governance frameworks facilitate the development of inclusive green finance. By contrast, lagged poverty has a negative and weakly significant effect, while agriculture and income inequality do not show statistically significant effects. These findings suggest that green microfinance is driven by both climate adaptation needs and institutional capacity. The study highlights the importance of integrating climate-risk management into microfinance products, strengthening institutional quality, and reducing financial constraints for poor rural households in order to promote inclusive and sustainable green finance.
creator: Dorra ABBES
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-08-04
publication date: 2026-08-04
volume: 36
number: 2
starting page: 744
ending page: 763

The Influence of Organizational Culture on Employee Performance: A Systematic Literature Review
type: item
description: Organizational culture is widely recognized as a critical determinant of employee performance; however, existing research remains fragmented across theoretical perspectives, organizational contexts, variables, and methodological approaches. This study systematically synthesizes the literature on the relationship between organizational culture and employee performance, identifies the mechanisms underlying this relationship, and highlights research gaps and future directions. A Systematic Literature Review (SLR) was conducted following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. Articles were retrieved from the Scopus database using predefined inclusion and exclusion criteria, resulting in 75 eligible peer-reviewed studies for qualitative synthesis. The findings reveal a substantial increase in scholarly attention to organizational culture and employee performance over the past decade, with Organizational Culture Theory remaining the dominant theoretical foundation. Organizational culture influences employee performance through both direct and indirect pathways. Job satisfaction, organizational commitment, and organizational citizenship behavior frequently function as mediating mechanisms, whereas leadership and work environment commonly serve as moderating factors. The literature is predominantly quantitative and remains concentrated on traditional organizational variables, leaving contemporary issues such as digital capability, employee well-being, technology adoption, and hybrid work relatively underexplored. This review contributes an integrated perspective on the theoretical, methodological, and variable-based development of the field and proposes future research directions involving multilevel, longitudinal, qualitative, mixed-method, and moderated-mediation approaches in contemporary organizational settings.
creator: Nyoman Dane
creator: I Ketut Setia Sapta
creator: I Nengah Suardhika
creator: Gde Bayu Surya Parwita
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-08-10
publication date: 2026-08-10
volume: 36
number: 2
starting page: 764
ending page: 773

The Festive Marketing Contributing to The Economic Growth in Viksit Bharat @ 2047
type: item
description: The rich culture of festivals of India makes Festive Marketing a powerful catalyst for our companies and our nation. By tapping into emotional resonance, festive campaigns allow consumers to grab attractive offers while enabling businesses to generate 45% to 50% of their total annual revenues. Beyond corporate sales, festive marketing serves as an economic growth engine that boosts domestic manufacturing, spurs exports, generates 6 to 7 lakh employment opportunities every festive season, and supports artisans, the rural economy, women, and youth. This original study is descriptive in nature and consists of secondary data which analyses information from over 50 news articles published between 2019 and 2026 (including The Economic Times, Times of India, and Business Standard), alongside reports from CAIT, government bodies, and international research publications. A qualitative content analysis was employed to systematically synthesise, evaluate and analyse the festive trends across the gathered source material. The study is novel in its form and it bridges a gap by explicitly linking festive marketing to the vision of Viksit Bharat @ 2047, opportunities, development, employment generation and its push for Next-Generation Reforms. The findings offer practical value for both the private and public sectors. On one side it can help the companies to better anticipate surge in demands, optimize supply chains, and capitalize on festive shopping spikes. On the other side it can help the government to formulate protective regulations to safeguard consumers from potential exploitation during high-volume promotional bursts. Ultimately, festive marketing acts as a vital bridge connecting cultural celebrations, consumer satisfaction, and long-term macro-economic prosperity.
creator: Nidhi Pandey
creator: Sohit Kumar Pandey
creator: Vanita Kumari Soni
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-08-13
publication date: 2026-08-13
volume: 36
number: 2
starting page: 774
ending page: 790

Developing Future Green Entrepreneurs: The Role of Entrepreneurial Self-Efficacy and Growth Mindset in Higher Education: Evidence from Indonesia and Malaysia
type: item
description: This study investigates the psychological-cognitive factors influencing green entrepreneurial intention among university students in Indonesia and Malaysia. While sustainable development requires multi-stakeholder participation, students represent a critical demographic for driving environmental change through entrepreneurship. Despite increasing environmental awareness, green entrepreneurial intention remains limited in developing countries. Drawing on Social Cognitive Theory, Growth Mindset Theory, and the Theory of Planned Behavior, this research examines how Entrepreneurial Self-Efficacy (ESE) and Growth Mindset (GM) shape students' intentions to pursue environmentally sustainable ventures. The study employs a quantitative methodology, surveying 445 students from four universities: Pasundan University, Esa Unggul University, INTI International University, and Universiti Malaysia Sabah. Data analysis using Partial Least Squares Structural Equation Modeling (PLS-SEM) reveals that ESE positively influences GM (β = 0.837), ESE positively affects Green Entrepreneurial Intention (GEI) (β = 0.385), and GM demonstrates a stronger effect on GEI (β = 0.543). The model explains 70.0% of the variance in GM and 79.2% in GEI, indicating strong predictive power. Theoretically, this research extends sustainable entrepreneurship literature from structural approaches to psychological-cognitive perspectives in developing country contexts. Practically, the findings underscore the importance of integrating psychological capital development into entrepreneurship education, emphasizing experiential learning, incubation programs, and ecosystem-centered initiatives to foster students' confidence and mindset for sustainable enterprise creation.
creator: Ida Hindarsah
creator: Adi Fahrudin
creator: Khan Sarfaraz Ali
creator: Heri Erlangga
creator: Mochamamd Dahlan
rights: Copyright (c) 2026 Enterprise Development and Microfinance
date: 2026-08-17
publication date: 2026-08-17
volume: 36
number: 2
starting page: 791
ending page: 804

Trends and Frontiers in Consumer Minimalism-A Bibliometric Study
type: item
description: Purpose: This paper examines how research on consumer minimalism has evolved. In this study, minimalism is treated as a set of core values, including mindful consumption and environmental awareness. Design and methodology: This study reviews the data from Scopus. It analyzes the 1297 documents between the time span of 2020-2025 (partial 2025). The bibliometric methods R Studio(R 4.5.1) and VOSviewer (1.16.18) are used to find out who the key authors are, which journals are most productive, which countries, most cited documents, and most relevant keywords. Findings: This study finds that Minimalism and happiness are interrelated. People can go towards sustainability by fulfilling their personal motives, such as financial and emotional. The transformation from materialistic things to non-materialistic ones gave satisfaction to consumers. Limitations: - This study takes the Scopus database. In the future, researchers can work on multiple databases.
creator: Kiran Malik
creator: Divya Malhan
creator: Kanishka
creator: Simran
rights: Copyright (c) 2026
date: 2026-08-18
publication date: 2026-08-18
volume: 36
number: 2
starting page: 805
ending page: 828

Financial Literacy for Financial Inclusion: A Community-Based Case Study from South Delhi
type: item
description: This case study examines the role of financial literacy in improving the financial well-being of low-income households through a community-based intervention conducted in a slum settlement near Vasant Vihar, South Delhi. The initiative was conceptualised after the researcher observed the stark socio-economic contrast between affluent and underprivileged sections of the city and recognised that financial insecurity often stems not only from inadequate income but also from limited financial knowledge and poor financial decision-making. In collaboration with Hamari Pahchan NGO, the researcher first conducted a community survey to understand residents' financial behaviour, saving habits, borrowing practices, budgeting skills, awareness of banking services, digital payment usage, and knowledge of government welfare schemes. The findings revealed that although many households possessed bank accounts and regularly used UPI, they lacked essential financial planning skills, maintained minimal emergency savings, depended heavily on informal borrowing, and had limited awareness of formal financial products and consumer rights. Based on these insights, a structured financial literacy programme comprising five practical sessions was implemented. The programme covered household budgeting, emergency savings, responsible borrowing, digital financial safety, banking services, government welfare schemes, insurance, and consumer protection. The sessions emphasized practical application rather than theoretical concepts, enabling participants to relate the learning directly to their everyday financial decisions. The case demonstrates the importance of conducting a needs assessment before designing community interventions and highlights how targeted financial education can enhance financial awareness, encourage responsible financial behaviour, and promote financial inclusion. It further illustrates that while financial literacy alone cannot eliminate poverty, it serves as an essential fo…
creator: Dev Sandeep Saraf
rights: Copyright (c) 2026
date: 2026-08-20
publication date: 2026-08-20
volume: 36
number: 2
starting page: 829
ending page: 836