IADITI - Dutch Journal of Finance and Management
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The Dutch Journal of Finance and Management (DJFM) is an international biannual peer-reviewed journal that provides a platform for analysis in the fields of economics, accounting, finance and management. DJFM aims to create a multidisciplinary platform on which these topics are analysed by an international network of scientists.
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- E-Governance Initiatives and Financial Management in the Nigerian Public Sector: An Integrated Conceptual Framework for Enhancing Transparency and EfficiencyPublication . Paul, Chima; Malachy, JosephPublic Financial Management (PFM) reforms in Nigeria have increasingly embraced digital innovations to enhance transparency, efficiency, and accountability in fiscal governance. This study develops a conceptual framework for restructuring Nigeria’s PFM system, focusing on four interdependent pillars: Digital Financial Systems, Transparency and Accountability, Capacity Building, and Infrastructure and Security. The adoption of digital financial systems such as the Treasury Single Account (TSA), Integrated Personnel and Payroll Information System (IPPIS), and Government Integrated Financial Management Information System (GIFMIS) has shown potential to improve fiscal discipline and reduce financial irregularities. However, the effectiveness of these systems depends on strong governance structures, well-trained personnel, and secure digital infrastructure. Transparency and accountability mechanisms, exemplified by Nigeria’s Open Treasury Portal, are crucial in curbing corruption and fostering public trust but require enhanced enforcement and citizen engagement. Capacity building is essential for equipping public sector personnel with the necessary skills to manage digital financial tools effectively to address ongoing human capital deficiencies. Infrastructure and security are also fundamental to ensuring the sustainability of digital PFM reforms, particularly in mitigating cybersecurity threats and bridging ICT infrastructure gaps in underserved regions. This study adopts a qualitative research approach, relying on the critical analysis of existing documents and policy reports. It follows a grounded theory methodology, which is effective for analyzing complex governance structures and financial management reforms. Through a critical analysis of these interdependent elements, the study argues that a holistic and integrated approach as opposed to a siloed approach is vital for achieving sustainable PFM reforms in Nigeria. The study concludes by recommending targeted policy interventions to enhance institutional efficiency, strengthen governance mechanisms, and promote a resilient public financial management system.
- Foreign aid and Africa’s economic independence: the lingering economic paradox for African leaderPublication . Okanga, BonifaceThe tendency of even wealthier African nations to over-rely on foreign aid, even if it exceeds the acceptable debt-to-GDP ratio of 40%, is the same tendency that has affected the effective utilisation of Africa’s natural wealth to attain economic independence. It is the same tendency that frustrates the creation of an environment that inspires private sector businesses to meaningfully contribute to the improvement of Africa’s economic self-sufficiency. To respond to such dynamics, this study uses integrative review as a qualitative research method to offer a critical analysis of Africa’s economic independence challenges and debates as instigated in recent days by Donald Trump’s closure of USAID (United States Agency for International Development) and termination of American aid and financial support to several developing countries. Through such analysis, the study aims to discern the strategies that can be adopted for reducing Africa’s over-reliance on foreign aid whilst also bolstering its economic independence. While striving to attain economic independence, results from integrative review revealed Africa to face conflicting situations and paradoxes of having to balance decolonisation quests with over- reliance on foreign aid for economic development. Africa also experiences paradoxes of undertaking meaningful economic investment vis-à-vis quests of keeping away self-serving interests and temptations like corruption. It further faces difficulties of serving selfish political interests instigating instabilities vis-à-vis quests of enhancing economic sustainability and independence. Combined with poor governance, controls and conflicts of politicizing state support to private sector businesses vis-à-vis quests of seeking to grow a vibrant private sector, these create a paradox that African leaders must deal with if they are to seamlessly sail to economic freedom. Given these findings, the paper proposes that while mitigating the politicization of state support to private sector businesses, African governments must prioritize the provision of unfettered private sector support. African governments should also harness revenues generated from their vast natural resources’ exploitation to diversify into economic sectors and industries that they have weaknesses. This would create economic linkages that boost intra-Africa economic activities, productivity and growth to spur Africa to the desired state of economic independence.
- Analysing the Trend and Variability in Corruption Perception: A Study of Sub-Sahara African Countries from 2012-2020Publication . Paul, Chima; Adams, Samuel OlorunfemiThis study examines trends and variability in the Corruption Perception Index (CPI) across 48 Sub-Saharan African (SSA) nation using cross-sectional data from 2012 to 2020 from Transparency International. Based on expert polls, the CPI rates public sector corruption from 0 (high corruption) to 100 (low corruption). Analysis was conducted using STATA 15 and included descriptive statistics, data visualization, correlation matrices, and one-way ANOVA. The findings show a steady yearly growth in the CPI, with major anti-corruption advancements in Botswana, Rwanda, Namibia, and Senegal. While the Democratic Republic of Congo, Sudan, and South Sudan continued to struggle with corruption, Niger, Gabon, Mali, and Togo demonstrated only little progress. The average CPI decreased somewhat from 32.9 in 2012 to 32.2 in 2020, indicating a minor regional impact, notwithstanding individual country efforts. ANOVA results showed no significant variations in corruption levels over time (F = 0.031, P = 0.987), but strong correlations (P < 0.01) suggest persistent CPI trends. These results highlight the necessity of focused policy initiatives and long-term governance reforms to solve persistent corruption problems in SSA. The study concludes that, in spite of evidence of relative effectiveness in governance and anti-corruption initiatives countries like Botswana, Rwanda, Namibia, and Senegal stand out as the top nations with the lowest perceived levels of corruption.
- Managing and improving a Bank’s profitability and liquidity in times of crisisPublication . Davis-Adesegha, JenniferAs banks in recent years have been exposed to a series of crises ranging from the 2008 financial crisis, the Covid-19 pandemic, and now the devastating economic effects of Russia-Ukraine War, a critical analysis of how banks manage and improve their profitability and liquidity during a crisis is essential for discerning the improvement measures that must be adopted. In that context, this study used the integrative review as the methodology for evaluating different theories and literature on the strategies that most contemporary banks use for managing and improving their profitability and liquidity during times of crisis. Outcomes of thematic and narrative analysis of different studies on the strategies for managing and improving a bank’s profitability and liquidity during times of crisis revealed that the major strategies used by most banks encompass maintaining balanced portfolios of liquid assets, liquidity ratio analysis, and stress testing. Other strategies were found to include asset-liability management (ALM), diversification of a bank’s funding sources, a risk-based management approach, and the use of a contingency funding plan. Even if there is no crisis, the outcomes of the integrative review imply that bank crisis management, aimed at managing and improving a bank’s profitability and liquidity, must be part of the organisational culture. It must be part of the organisational culture that improves a bank’s overall resilience and constant preparedness to respond to and withstand all unfolding disruptions and discontinuities. Unfortunately, due to a gap arising from lack of a comprehensive model for managing and improving a bank’s profitability and liquidity during a crisis, most banks were still found to face challenges of discerning how to do so more effectively and comprehensively whenever a crisis erupts. To respond to such a gap, this study proposed the proactive stress testing model for managing and improving a bank’s profitability and liquidity during times of crisis. Such a model not only enriches the existing theories and literature on bank crisis management, but also its adoption will leverage effective mitigation of the crisis’s devastating effects to improve a bank’s overall profitability and liquidity during the crisis, and for a long period after the crisis.
- Exploring Digital Accounting Challenges at Vila do Conde City CouncilPublication . Sousa, Cristiana; Oliveira, Helena Costa; Maldonado, IsabelThe advancement of information technologies in the digital age has significantly impacted human activity and various professional fields, becoming increasingly prevalent in society. Over time, technology has profoundly transformed public accounting, enabling more efficient, effective, and optimized practices. Innovative tools, such as blockchain, artificial intelligence, and cloud computing, have emerged as key drivers of this evolution. This paper aims to analyze the impact of information technologies on the accounting practices of the Vila do Conde City Council, in Portugal. The study identifies the technological systems and the changes due to the Accounting Standardization System for Public Administrations (SNC-AP) and explores the advantages and challenges of these technologies. This qualitative research method uses interviews and documentary analysis. The findings reveal that while the council has already implemented systems such as Enterprise Resource Planning, there are opportunities to introduce more advanced accounting technologies. Issues such as budgetary constraints and cultural resistance to change influence the pace of technological implementation. However, the council has taken a proactive approach in other areas, focusing on service digitalization and community engagement. This study provides a valuable reference for other public entities looking to modernize their processes and enhance community services. Identifying challenges and barriers in implementing technology enables public administrations to anticipate issues and implement effective solutions.
- Enhancing Sustainability in Project Management through Smart Technology Integration: A Case Study Approach to Green Building ProjectsPublication . Lawal, Yusuf Adedayo; Sanwoolu, Jermaine Ayotunde; Adebayo, Omowunmi Temitope; Olateju, Olawale IbrahimThe combination of smart technologies, such as the Internet of Things (IoT) and Building Information Modelling (BIM), however, has become the disruptive approach to improve sustainability in project management, particularly in green construction projects. The objective of this study is to assess the effect of these technologies upon sustainability end points, specifically toward outcomes, including energy efficiency betterment, cost/waste reduction, and optimization of resources use. Based on the Resource-Based View (RBV) and Stakeholder Theory, the current study, for the first time, offers, a theoretical structure to explain how smart technologies relate to sustainability goals. Employing a mixed-method design, the present study obtained quantitative data with standardized questionnaires and qualitative data through semi-structured interviews. SPSS Statistics quantified the outcomes while qualitative data were coded with NVivo to establish relevant themes, for example energy efficiency and stakeholder satisfaction. Results show that IoT-based systems and BIM has a notable effect on project sustainability by providing real-time data for decision making, decreasing operational defaults, reduced environmental impact. This study makes a contribution to the sustainable management of the project literature by presenting the economic and environmental advantages of smart technologies. It also offers practical recommendations--e.g., policy frameworks and capacity-building programs--to facilitate the meta-scale introduction of these technologies. These observations are of great use to those working in the industry, the policy makers and researchers who are contributing to the development of sustainability in the construction industry.
- Intentions to Use Mobile Food Delivery Application: A Theory of Planned Behavior and Technology Acceptance Model ApproachesPublication . Makhlouf, Asma; Mouloudj, KamelThis study investigates the factors influencing Algerian customers' intention to use food delivery applications. Drawing on the theory of planned behavior and the technology acceptance model, the research employs a quantitative approach using a sample of 213 participants with prior experience in ordering food via food delivery applications. The findings indicate that attitude, subjective norms, and perceived usefulness positively and significantly influence food delivery applications usage intention, while perceived ease of use does not have a significant effect. This study is, to the best of the authors' knowledge, the first to explore these factors in the Algerian context. The study contributes to the literature by providing insights into consumer behavior in emerging markets and offers practical recommendations for food delivery service providers to enhance user engagement, improve service offerings, and drive adoption. These findings are particularly relevant for companies looking to navigate the evolving landscape of digital commerce in Algeria and similar emerging markets.
- Emotional Intelligence and Professional Satisfaction: Insights for the Management of Diagnostic and Therapeutic Technologists in MadeiraPublication . Sardinha, Carlota Rodrigues; Martins, António; Sardinha, Luís FilipeThe management of health facilities is complex and challenging. It´s needed a harmonization between management and leadership, results and care provided. Leadership effectiveness is increasingly associated with emotional skills, capable of positively influencing the organizational culture, climate and performance of teams. Professional Satisfaction (PS) emerges as a crucial indicator of the organizational environment that can impact an organization's results. This research explored the relationship between Emotional Intelligence (EI) and PS and whether the EI and PS vary according to their sociodemographic and professional characteristics in Diagnostic and Therapeutic Technologists (DTT) in the Autonomous Region of Madeira (ARM). Using questionnaires, we sought to ascertain whether there is a correlation between EI and PS. Corroborating other data founded in the literature, it was not possible to establish a statistically positive correlation between these two variables. This study contributed to a better understanding of EI and PS in the DTT in the ARM, highlighting the importance of research in this region and group of health professionals.
- Organisational culture change as an antecedent for enhancing the successful implementation of a bank’s crisis management strategiesPublication . Davis-Adesegha, JenniferAs banks engulfed in different crisis situations introduce a combination of bank crisis management strategies to move out of the crisis, it is not only the introduction of new technologies, processes, structures and skills which are required, but also the change of the organisational culture. Unfortunately, during a crisis, most of the banks often focus just on implementing the core crisis management strategies without integrating them with the critical processes for changing and transforming organisational culture to support changes that are being implemented. As this affects the successful implementation of change essential for the bank to recover from the crisis, this study uses systematic review to explore and extract new insights from the existing studies to discern how banks can approach such situations. From the systematic review, findings revealed that due to the distortion of the way activities are accomplished during the implementation of different bank crisis management strategies, employees may not easily accept new changes. These induce conflicts, frustrations and sabotage that affect the successful change implementation as well as the ability of the bank to transition out of the crisis. To therefore ensure the successful implementation of organisational change and transformation, organisational culture change must be integrated with behaviour change and transformation to change and modify attitudes, habits, practices and ways of doing things to support change implementation. Entrenchment of such a culture eliminates path dependencies to instill a sense of creativity and innovativeness in the ordinary employees to explore new ways of doing things, so as to influence successful implementation of change in the way that can influence the capabilities of the bank to recover from the crisis.
- Factors affecting the quality of relationships between internal auditors and auditees in Iranian companiesPublication . Gorgani, Ali Mohammad; Sajjadi, Seyyed Hossein; Bandari, Mohammad Hossein SafarzadehDespite the importance of constructive relationships for internal auditors, there is limited research on the factors affecting the quality of relationships between internal auditors and auditees. This study examines the impact of identifying the most important addressee and stakeholder, taking account of senior management's expectations, the diversity of internal audit activities, the application of information technology, the expertise and experience of internal auditors on the quality of relationships between internal auditors and auditees in Iranian companies. This article is quantitative in terms of methodology and a 5-point Likert scale questionnaire was used for data collection. Data analysis is based on the answers obtained from 262 internal auditors, certified public accountants, and other practitioners who answered the questionnaire in 2022. The results show that the identification of the most important addressee and stakeholder and the application of information technology in internal audit process have a positive and significant impact on the relationship between internal auditors and auditees, and these factors will improve the acceptability of internal auditors' recommendations in the organization, which will increase the effectiveness of internal audit function and reduce arguments and disagreements between internal auditors and auditees.