International Journal of Contemporary Business and Economics (IJCBE) <p>International Journal of Contemporary Business and Economics (IJCBE) is publishing high-quality multidisciplinary research focusing on business and economics in developing and emerging markets.</p> <p style="text-align: justify;">International Journal of Contemporary Business and Economics publishes rigorous theoretical and empirical research on developing and emerging markets from multidisciplinary (Management, Finance, Marketing, Human resource, Supply Chain, and Economics) and multinational geographic perspectives. The journal publishes qualitative and quantitative research and reviews articles, such as meta-analyses. IJCBE especially encourages comparative studies of emerging markets or studies comparing emerging markets with developed markets and seeks theories explaining the contextual differences.</p> <p><strong>AIMS AND OBJECTIVES</strong></p> <p style="text-align: justify;">IJCBE has multifaceted goals and objectives. The primary purpose of the journal is to provide a valuable forum for the dissemination of knowledge throughout the academic community, and it also seeks to foster a scholastic dialogue that includes both theoretical and practical perspectives. It seeks to facilitate the exchange of cutting-edge research, ideas, and insights between business and economics scholars, academics, and practitioners. Through meticulous peer-review processes, IJCBE endeavours to contribute to the advancement of knowledge. By exhibiting research from diverse geographical regions, IJCBE seeks to promote international collaboration and comprehension by recognising the interconnectedness of contemporary global issues. The ultimate objective of the journal is to contribute to rational decision-making by providing pertinent insights and evidence to academics, policymakers, and industry professionals.</p> <p><strong>SCOPE</strong></p> <p style="text-align: justify;">International Journal of Contemporary Business and Economics (IJCBE) is a biannual, peer-reviewed international research journal that addresses both applied and theoretical issues.</p> <p><strong>SUBMISSION</strong></p> <p style="text-align: justify;">IJCBE exclusively accepts submissions through its official website via the Open Journal Systems (OJS) platform ( This web-based submission system enables authors to submit their research articles and scholarly works in a straightforward and structured manner. Using OJS improves communication and transparency throughout the peer review and publication process, in line with the journal's commitment to academic rigor. For complete guidance on how to submit, authors are encouraged to consult the journal's website for submission guidelines.</p> <p style="line-height: 150%; margin-bottom: 0cm; background: #ffffff;" align="justify"><span style="color: #333333;"><span style="font-family: Arial, serif;"><span style="font-size: medium;"> </span></span></span></p> <p style="line-height: 150%; margin-bottom: 0cm; background: #ffffff;" align="justify"> </p> <p style="text-align: justify; line-height: 200%; background: white;"> </p> en-US (Dr. Arman Khan) (Dr .Syed Talib Hussain) Sat, 16 Dec 2023 00:00:00 +0000 OJS 60 The Role of Technological Innovation, Natural Resources, and Economic Growth in Fostering Environmental Sustainability: A Case Study of Thailand <p class="TableParagraph" style="text-align: justify; line-height: 150%;"><span style="font-size: 9.0pt; line-height: 150%;">Thailand, an emerging economy, is seeing a rise in greenhouse gas emissions and environmental strain due to its significant dependence on non-renewable energy sources. In this sense, a nation's strategic utilization of technical innovation and resource management become essential requirements. Thus, using the EKC paradigm, this study investigates the relationship between ecological footprint, economic growth, natural resources, and technological innovation. To ensure reliable results, the study used co-integration, FMOLS, DOLS, and OLS approaches. The empirical result validates the existence of the EKC hypothesis, which states that sustained economic expansion causes environmental quality to first fall before improving over time with a doubling of per capita income. Moreover, it was discovered that the natural resource coefficients did not exhibit statistical significance in any of the equations, highlighting their theoretical value. On the other hand, technical advancements had a major detrimental effect that eventually reduced the ecological footprint It emphasizes how important environmental conservation is. In order to accomplish significant environmental improvement, the report suggests focusing more on innovation-driven initiatives and improving the management of natural resources.</span></p> Fida Muhammad, Parvez Ahmed Shaikh, Balach Rasheed Copyright (c) 2023 16-12-2023 Sat, 16 Dec 2023 00:00:00 +0000 A Pathway leads to Quality Tertiary Education via the change in Learning Technologies and Students’ Academic Self-Concept with the intervention of Students’ Creativity <p>Since the dawn of civilization, humans have been learning and adapting to new environments and changing scenarios. The fast-paced changing trends in the advancement of educational technology are exercising a push on the Higher Education System to elevate and follow transformation. Moreover, the UN Sustainable Development Goal 4 expands the phenomenon of “Quality Education” by 2030 which suggests building and upgrading the traditional educational environment to a more tech-oriented learning environment.The current study used a quantitative research approach and collected data from a sample of seven nighty eight students from private and public sector universities in the province of Sindh, Pakistan. The study proposed four hypotheses investigating direct and indirect relationships between variables, based on Lewin’s Change Model and reinforced by the Social Exchange Theory. The research findings showed that the attitude toward Technological Change positively and significantly influences the Academic Self Concept through the intervention (mediation) of students' creativity. The interrelationship of the variables in the current study model, especially within the tertiary education of Sindh province, has not been extensively researched before. This emphasizes the uniqueness of the research questions developed based on the theoretical framework of the Kurt Lewin Model. Moreover, the study has been updated to incorporate citations and references from recent years. The study's findings indicate that leaders and managers of Higher Education Institutions (HEIs) play a crucial role in influencing students' academic self-concept based on their views of the technology resources in the learning environment, particularly in line with HEC Vision 2025 and UN Sustainability Development Goal 4 Quality Education. Moreover, students' academic achievement, contentment level, multidimensional learning, and confidence significantly influence the competitive market and contribute to the educational institution's reputation.</p> Aisha Ansari, Sobia Shafaq Shah, Imamudin Khoso Copyright (c) 2023 26-12-2023 Sat, 16 Dec 2023 00:00:00 +0000 An Empirical Nexus between Corporate Governance Practices and Cost of Equity: Evidence from PSX-Listed Firms <p>The current study scrutinizes the relationship between the cost of equity and corporate governance practices within companies listed on the Pakistan Stock Exchange (PSX).The Capital Asset Pricing Model (CAPM) is applied to determine the cost of equity. A Sys-GMM model was applied to a sample of 170 businesses listed on the Pakistan Stock Exchange (PSX) from 2014 to 2019 to establish a connection between the variables. Sys-GMM is effective in addressing endogeneity issues related to corporate governance variables. In addition, the Sys-GMM results were compared with pooled OLS and fixed effects. It was discovered that the subsequent approaches failed to address the endogeneity issue, consequently yielding biased results. The findings unveiled a negative nexus amid cost of equity and block ownership. The output indicated that board size plays a key role in reducing the cost of equity. Interestingly, audit quality is directly related to equity cost, however, female directors and leverage were not linked with the cost of equity. The findings will direct policymakers in expanding or adapting the scope and depth of corporate governance practices, which will certainly facilitate the production of the right corporate climate in the country.</p> Farman Ullah Khan, Gohar Farid, Faiza Gulshan Copyright (c) 2023 16-12-2023 Sat, 16 Dec 2023 00:00:00 +0000 Does Pakistan's Fiscal Deficit Curb Economic Growth? An ARDL Bound Testing Methodology <p>This study examines Pakistan's fiscal deficit dilemma with an emphasis on economic development. The ARDL technique was used to analyze secondary data from 1982 to 2020 for the study. The results suggest that fiscal deficits financed by debt may involve only the allocation of financial capitals from the private firms to the public sector and can hurt economic development. According to the study, Pakistan's fiscal deficit is the result of ineffectiveness in the tax structure and a high proportion of unproductive outlays, including security, debt repayment, and needless parliamentary spending. The research also includes recommendations for addressing the deficit problem. The primary objective of government policies is to restrict excessive domestic credit expansion to evade the contrary impact of fiscal deficit. Additionally, the authorities must reduce the loaning rate to encourage a vigorous investment climate, which will increase employment prospects and government income.</p> Kashif Saeed, Shaista Qammer Copyright (c) 2023 16-12-2023 Sat, 16 Dec 2023 00:00:00 +0000 How Behavioral Finance Impacts Investor Decision-Making: an Empirical Study of the Pakistan Stock Exchange <p class="TableParagraph" style="text-align: justify; line-height: 150%;"><span style="font-size: 9.0pt; line-height: 150%;">This research intended to explore the impact of behavioral finance on investor decision making within Pakistan stock exchange (PSX). A Quantitative explanatory research was used. Data was collected using convenience sampling from retail investors from a representative sample. 412 filled questionnaires were used for the analysis. Data was tested through Smart PLS that is an application that runs using structure equation modeling (SEM).</span> <span style="font-size: 9.0pt; line-height: 150%;">In broad terms, our empirical findings suggest that an excessive risk-taking culture can be a source of financial instability. Our findings suggest that financial behavioral biases such as, herd mentality, overconfidence and loss aversion that significantly affect investor decision-making in the stock market have practical implications for market practitioners and policy makers suggesting the need for better understanding of investor behavior and strategies to promote more rational share pricing in the stock market. In recognizing and dealing with these biases, market participants’ individual investment decisions could potentially be enhanced and in resolving market inefficiencies, these biases could be their mitigation.</span></p> <p class="TableParagraph" style="text-align: justify; line-height: 150%;"><span style="font-size: 9.0pt; line-height: 150%;">&nbsp;</span></p> Samreen, Irfan Zeb Khaskhelly Copyright (c) 2023 16-12-2023 Sat, 16 Dec 2023 00:00:00 +0000 Nexus between Digital Marketing and Consumer Intention: Mediating role of Brand Awareness <p class="TableParagraph" style="text-align: justify; line-height: 150%;"><span style="font-size: 7.5pt; line-height: 150%;">The main aim of this study is to investigate the mediating role of brand awareness in the nexus between digital marketing and consumer intention in the Pakistani digital market. For this purpose, data is collected from university students actively involved in online shopping along with marketing managers of large online companies. A thorough literature review regarding the previous research in the field of digital marketing is presented, along with theories supporting the study's hypothesis. An empirical investigation is conducted by adopting the questionnaires from previous studies. These questionnaires are sent to 400 respondents, and 345 are received back, of which 300 are complete and fit for data analysis. The tests used for quantitative data analysis include reliability analysis, correlation, and regression. Cronbach's alpha values of all constructs are above the acceptable level of 0.7, which confirms that these questionnaires are dependable in measuring the variables. Correlation analysis proves that digital marketing and brand awareness positively and significantly correlate with consumer intentions. Likewise, regression analysis suggests that brand awareness partially mediates the relationship between digital marketing and consumer intention. Finally, some practical implications for marketing managers and large and small companies are presented. It is suggested that digital marketers of these companies must focus on creating brand awareness, which enhances the consumer's intention to use the online platform of these companies. It is recommended that future research should incorporate other variables in this nexus to check if they can also enhance the association between digital marketing and consumer intentions.</span></p> Zoshaib Aslam, Aleeza Afreen, Areeba Nadeem Copyright (c) 2023 16-12-2023 Sat, 16 Dec 2023 00:00:00 +0000