Elicit Journal of Economics and Management Studies
The Elicit Journal of Economics and Management Studies publishes high-quality research in economics and management, embracing diverse methodologies such as qualitative, quantitative, mixed methods, and reviews. It addresses key topics like economic policies, organisational strategies, financial systems, and the impact of technology, fostering innovation and actionable insights for academia, industry, and policymakers.
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Digital Transformation and the Rise of Shadow IT: Implicationsfor Organisational Complexity and Cyber Governance
Purpose: This study examines how digital transformation contributes to the emergence of Shadow IT and Shadow AI, synthesising evidence on the factors driving unauthorised technology adoption, its implications for organisational complexity and cyber governance, and the governance strategies proposed to address these challenges. Methodology: A systematic literature review was conducted in accordance with the PRISMA guidelines, synthesising evidence from 25 peer-reviewed studies across diverse organisational and industrial contexts. The evidence was synthesised through thematic analysis to identify recurring patterns relating to the conceptualisation of Shadow IT, adoption drivers, organisational consequences, cyber governance risks, and organisational responses. The findings were interpreted using the Technology–Organisation–Environment (TOE) framework and Diffusion of Innovation (DOI) theory. Results: The review found that digital transformation, combined with restrictive governance processes, unmet operational needs, and the widespread availability of cloud computing and generative AI, encourages the adoption of unauthorised technologies. Shadow IT increases organisational complexity by creating fragmented technology infrastructures, data silos, duplicated information, and reduced accountability. These conditions weaken cyber governance through reduced visibility, data security vulnerabilities, compliance risks, and challenges associated with autonomous AI systems. Novelty and Contribution: The study develops an integrated conceptual framework that explains how digital transformation drives Shadow IT adoption, links unauthorised technology use to organisational complexity and cyber governance risks, and identifies governance mechanisms that balance innovation, security, and compliance Social and Practical Implications: The findings support the development of governance practices that improve collaboration between business units and IT departments while strengthening cybersecurity, regulatory compliance, and responsible use of digital and AI technologies in contemporary organisations.
Copyright (c) 2026 Zakaria Alrababah (Author) https://creativecommons.org/licenses/by/4.0
The Role of Quality Culture in Enhancing the Institutional Performance of The Private Higher Education Institutions in Oman Based on The Resource-Based View Theory
Purpose: This study assesses the extent to which quality culture is embedded in private higher education institutions (HEIs) in Oman and examines its effect on institutional performance through the Resource-Based View (RBV) theory. Methodology: A quantitative survey design was employed. Data were collected through an online questionnaire from 351 valid responses obtained from personnel in private HEIs in Oman using stratified random sampling. Ordinary Least Squares (OLS) regression analysis was conducted using Python. Results: The findings indicate that respondents perceive a strong quality-oriented culture within private HEIs. Regression results show that quality culture has a significant positive effect on institutional performance (β = 0.7979, R² = 0.705), confirming it as a strong predictor of institutional performance. Novelty and contribution: This study provides empirical evidence supporting the RBV theory by demonstrating that quality culture functions as a valuable internal resource that enhances institutional performance. It also contributes original insights to the limited body of research on quality culture in private HEIs in Oman. Social and Practical Implication: The findings offer practical guidance for institutional leaders and policymakers by highlighting the importance of embedding quality culture to strengthen organisational performance, competitiveness, and long-term sustainability in higher education institutions.
Copyright (c) 2026 Badar Alkindi, Mad Ithnin Sallehb (Author) https://creativecommons.org/licenses/by/4.0
Human Capital and Youth Labor Dynamics in Malaysia: A 33-Year Econometric Perspective
Purpose: This study examined the dynamic relationship between educational attainment and youth labour force participation in Malaysia from 1991 to 2023 using macroeconomic time-series analysis. Despite substantial expansion in secondary and tertiary education, youth labour force participation declined by over 10 percentage points, indicating an education-employment disconnect. Methods: Augmented Dickey-Fuller tests assessed stationarity, followed by the Autoregressive Distributed Lag (ARDL) bounds testing approach to estimate long-run and short-run relationships. Structural break tests identified major shifts in the education-employment relationship. Results: A stable cointegration relationship was found among youth labour force participation, intermediate education, GDP per capita, and poverty. Intermediate education had a significant positive long-run effect (β = 0.52, p < 0.05), whereas advanced education was insignificant. In the short run, GDP per capita positively influenced participation (β = 0.68, p < 0.01), while poverty had a negative effect. The error correction term (–0.43, p < 0.01) indicated moderate adjustment to equilibrium. Structural breaks in 1997, 2008, and 2020 corresponded to major economic crises that weakened youth labour market integration. Novelty and Contribution: The study challenges the assumption that expanding educational attainment alone improves youth employment. It demonstrates that macroeconomic conditions and structural disruptions shape education-to-employment outcomes, highlighting the need for complementary labour market reforms. Social and Practical Implications: The findings support strengthening TVET, aligning curricula with labour market needs, expanding youth employment programmes, and improving policy resilience to economic shocks to facilitate smoother school-to-work transitions and reduce youth labour market disengagement.
Copyright (c) 2026 Blessing Ginika Nkwusi, Ismi Arif Ismail, Dr. Suriani Ismail (Author) https://creativecommons.org/licenses/by/4.0
Crowdfunding as Financial Intermediation: A Critical Review of Its Promises, Limitations, and Economic Impact
Purpose: This study critically examines whether crowdfunding constitutes a genuine form of financial intermediation, contributes meaningfully to economic development, and can be regarded as a credible institutional alternative to traditional financial systems. Methods: The study adopts a structured narrative literature review, synthesising existing theoretical and empirical research across five key themes: crowdfunding as financial intermediation, developmental outcomes, comparisons with traditional financial institutions, structural and scalability limitations, and regulatory, technological, and trust-related constraints. Results: The findings reveal a persistent gap between the rhetoric of disruption and empirical realities, showing that crowdfunding’s impact remains modest, geographically uneven, and sector-specific. While it provides valuable support for early-stage ventures, creative industries, and financially excluded groups, its capacity to generate transformative macroeconomic effects is limited. Novelty and Contribution: This study contributes a theoretically grounded and critically balanced synthesis that moves beyond both promotional and dismissive narratives. It reframes crowdfunding as a complementary financial mechanism within pluralist financial ecosystems, rather than a disruptive substitute for traditional financial intermediation. Social and Practical Implications: The findings underscore the need for policy and regulatory approaches that recognise crowdfunding’s complementary role while addressing its structural limitations. The study also highlights the importance of rigorous, longitudinal, and cross-national research to better understand its long-term economic and distributional effects.
Copyright (c) 2026 Azeez Oshoba, Kudirat Oluwatoyin Mueeb (Author) https://creativecommons.org/licenses/by/4.0
Perceived Corporate Social Responsibility and Talent Stability in a Large Chinese Enterprise Group: The Mediating Role of Employee Career Planning Support
Purpose: This study investigates how employees' perceptions of corporate social responsibility (CSR) influence talent stability (TS) in large Chinese enterprise groups. Specifically, it examines whether CSR affects TS directly and indirectly through employee career planning support (ECP), drawing on social exchange and signalling perspectives. Methodology: Survey data were collected from 632 employees within a diversified enterprise group in Henan, China. The study employed covariance-based structural equation modelling using AMOS 29, with bootstrapping techniques to test mediation effects. Measurement validity and reliability were confirmed through confirmatory factor analysis (RMSEA = .011; CFI = .995; CR = .884–.901; HTMT ≤ .779). Results: Findings show that CSR significantly and positively predicts both employee career planning support (β = .735) and talent stability (β = .512). Employee career planning support also positively influences talent stability (β = .373). Mediation analysis confirms a significant indirect effect of CSR on TS via ECP (indirect = .283; 95% CI [.200, .372]), indicating partial mediation, with approximately 34.9% of the effect transmitted through ECP. Novelty and Contribution: This study contributes to the micro-CSR literature by introducing employee career planning support as a key mediating mechanism linking CSR to talent stability. It shifts the focus from traditional attitudinal outcomes (e.g., job satisfaction, commitment) to a structural, career-oriented pathway. Additionally, it conceptualises talent stability as a positive organisational capability rather than merely the absence of turnover intention, offering a more strategic perspective on employee retention. Theoretical and Practical Implications: The study addresses a gap in the literature by incorporating career-related mechanisms into the CSR–employee outcomes relationship. For managers, the findings highlight that CSR initiatives can strengthen employee perceptions of career support, even when not directly career-focused. Organisations should therefore communicate CSR efforts effectively to employees.
Copyright (c) 2026 LYU XIAOJING, Ts. Dr. Kesavan A/L Nallaluthan (Author) https://creativecommons.org/licenses/by/4.0
Unlocking Human Capital Development through Technopreneurship Education: Evidence on the Moderating Influence of Entrepreneurial Mindset from Niger State, Nigeria
Purpose: Graduate unemployment remains a persistent challenge in Niger State, Nigeria, despite growing investments in entrepreneurial education. This study examines the moderating effect of entrepreneurial mindset (EMS) on the relationship between technopreneurship education and human capital development (HCD) among tertiary institution students. Methodology: A quantitative research design was adopted using data from 500 students selected from a population of 9,135 students across tertiary institutions in Niger State through purposive sampling. The study assessed key dimensions of technopreneurship education—Business and Financial Literacy (BFL), Entrepreneurial Skills (ES), Innovation and Creativity (IC), and Technological Competence (TC). Data were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM), with EMS specified as a moderating variable. Results: The findings indicate that BFL (β = 0.194, p = 0.002), ES (β = 0.218, p = 0.001), IC (β = 0.146, p = 0.004), and TC (β = 0.224, p = 0.000) exert significant positive effects on HCD. Although EMS shows only a marginal direct effect on HCD (β = 0.092, p = 0.054), it significantly strengthens the relationships between TC and HCD (p = 0.000) and between BFL and HCD (p = 0.006). Novelty and contribution: The study advances technopreneurship literature by demonstrating that entrepreneurial mindset enhances the effectiveness of specific technopreneurial competencies in driving human capital development. Practical and social implications: The study recommends integrating entrepreneurial mindset training into technopreneurship curricula, supported by mentorship and experiential learning initiatives, to improve graduate employability and foster sustainable human capital development in tertiary institutions.
Copyright (c) 2026 Silas Ndace (Author) https://creativecommons.org/licenses/by/4.0
Do Gamified Financial Literacy Tools Drive Insurance Uptake among MSMEs? Evidence from a Systematic Review toward a Sustainable Model
Purpose: This study systematically reviews the influences of gamification on financial literacy and insurance adoption among micro-, small-, and medium-sized enterprises (MSMEs), and develops a framework explaining how gamified interventions drive sustained insurance uptake. Methodology: A search of Scopus and Google Scholar identified 1,134 records. After removing duplicates and screening 887 articles using the PRISMA framework, 32 studies were retained for analysis. These were synthesised to examine behavioural intention, underlying mechanisms, comparative effectiveness, and contextual moderators. Results: Gamification elements such as simulations, challenges, rewards, feedback, and storytelling enhance engagement and learning. Their effects operate through three pathways: cognitive (improving understanding and risk awareness), motivational (boosting self-efficacy and sustained engagement), and social (strengthening trust and peer influence). Evidence shows gamified approaches outperform traditional financial education in knowledge retention, behavioural intention, and insurance uptake. However, effectiveness varies depending on digital readiness, cultural norms, institutional trust, and regulatory support. Novelty and contribution: The study proposes an integrated conceptual framework linking gamification to insurance adoption through mediating and moderating mechanisms. It advances theory by combining Cognitive Load Theory, Self-Determination Theory, and Social Influence Theory into a unified model, offering a foundation for future empirical research. Practical and social implications: Findings highlight the need for context-specific, inclusive, and culturally aligned gamified financial education. Policymakers and stakeholders should promote collaboration across sectors to support innovation, enhance financial inclusion, and strengthen MSME resilience through scalable digital learning solutions.
Copyright (c) 2026 Olufunmilayo Ogunbiyi (Author) https://creativecommons.org/licenses/by/4.0
Crowdfunding, Blockchain, and Smart Contracts in Islamic Finance: Evaluating Compliance with Maqasid al-Shariah
Purpose: The rapid advancement of financial technology (FinTech) offers significant opportunities to strengthen Shariah-compliant financial systems through innovations such as crowdfunding, blockchain, and smart contracts. These technologies can enhance transparency, governance, and financial inclusion in line with the ethical and socio-economic objectives of Maqasid al-Shariah. This study systematically reviews how Islamic FinTech innovations are designed, implemented, and governed, and how they contribute to key maqasid objectives, particularly justice, transparency, and inclusive finance. Methodology: A systematic literature review was conducted following PRISMA guidelines. Thirty-six peer-reviewed conceptual, empirical, and case-based studies were analyzed to examine the structures, applications, and governance mechanisms of Islamic FinTech solutions. Results: The findings show that Islamic crowdfunding effectively mobilizes capital for SMEs and social-impact initiatives when based on equity and profit-sharing contracts, although governance and Shariah oversight challenges remain. Blockchain technology demonstrates strong potential to improve auditability, reduce information asymmetry, and support Shariah-compliant validation across zakat, waqf, and sukuk. Smart contracts offer promise in automating permissible transactions and strengthening compliance, but require careful jurisprudential design to maintain contractual intent and flexibility. Collectively, these technologies advance maqasid objectives such as wealth protection, justice, equitable distribution, and financial inclusion, subject to regulatory harmonization and robust Shariah governance. Novelty and contribution: The study provides a consolidated maqasid-oriented synthesis of Islamic FinTech research, highlighting gaps in empirical validation and maqasid-based evaluation frameworks. Practical and social implications: The findings inform regulators, Islamic financial institutions, and FinTech developers seeking to design ethical, inclusive, and transparent Shariah-compliant financial systems.
Copyright (c) 2026 Adeniyi Abdur-Rauf Ibrahim, Engku Muhammad Tajuddin Engku Ali, Muhideen Amusa Babatunde, Adekunle Daoud Balogun (Author) https://creativecommons.org/licenses/by/4.0
Exploring Digital Marketing Adoption and Practices in Nigeria’s Fishery Market: Insights from Entrepreneurial Experiences
Purpose: This study explores the adoption and practices of digital marketing among entrepreneurs in Nigeria’s fishery market, focusing on how social media platforms influence advertising, customer engagement, and business growth. Case studies from the maritime sector, such as fisheries, were scrutinized to show how digital platforms are helping companies reach new markets and enhance competitiveness. Methodology: A qualitative research design was employed using semi-structured interviews with five participants representing different roles in the fishery value chain, including fish farming, processing, and e-commerce. Demographic data were analyzed descriptively, while thematic analysis identified recurring patterns related to digital marketing adoption, challenges, and its effects on business performance. Results: Findings revealed that most respondents were young, educated, and digitally inclined entrepreneurs who actively used WhatsApp, Facebook, Instagram, and TikTok for marketing and customer interaction. Digital marketing improved visibility, customer reach, and sales outcomes. However, issues such as poor internet connectivity, limited digital skills, and customer preference for payment on delivery constrained full adoption. Novelty and Contribution: The study offers rare empirical insights into digital marketing adoption within Nigeria’s fishery subsector an underexplored area in the maritime economy. It bridges digital entrepreneurship and agribusiness practices in developing contexts. Practical and Social Implications: The study highlights the need for digital literacy programs, improved internet infrastructure, and entrepreneurial training to enhance online marketing competence and support sustainable growth across Nigeria’s maritime and fishery industries.
Copyright (c) 2025 Tairat Abiola Titiloye, Isa Olalekan, Elegbede, Moriam Obalola, Simbiat Atinuke Yinusa, Matti-Sanni Rukayat Oluwatayo, Musa Animashaun (Author) https://creativecommons.org/licenses/by/4.0
Educational Attainment, Unemployment, Nutritional Intakes and Health Status in Nigeria
Purpose: The study explored the effects of educational attainment, unemployment, and nutritional intake on health status in Nigeria, utilising data from the 2018/2019 Nigeria Living Standard Survey. Methodology: Health status was measured by the number of days individuals reported experiencing illness. The analysis employed an instrumental variable estimation technique (2SLS). Results: The findings revealed that educational attainment has a positive and statistically significant (p < 0.01) effect on the incidence of illness days, whereas unemployment is associated with an increase in the number of ill days (p < 0.01). Furthermore, adequate nutrition intake is associated with a reduction in illness days or hospitalisation (p < 0.01). This indicates that higher education attainment enhances health status, while unemployment worsens it, and sound nutrition contributes positively to health outcomes. Novelty and contribution: The study provides microeconomic evidence of educational attainment, employment status, and nutritional intake as essential causal factors influencing health status in Nigeria Social implications: The study informs the government and relevant stakeholders in formulating policies that facilitate greater access to education, expand employment opportunities, and enhance the quality of food intake to elevate the health status of the people in Nigeria. Also, the government should implement targeted strategies to improve both mental and physical health, to promote health status and boost socio-economic growth and development in Nigeria.
Copyright (c) 2026 Florence O. Nudegbesi, Saheed Olayiwola, Jameelah O. Yaqub (Author) https://creativecommons.org/licenses/by/4.0
Economic and Human Resource Impacts of Rotary Club Intervention on Youth Wellbeing in Africa: A Diary Study Approach
Purpose: African youth, who make up more than 60% of the continent’s population, continue to face persistent challenges such as limited access to healthcare, educational disparities, gender inequities, and high unemployment, all of which undermine their overall well-being. This study aims to examine the contributions of Rotary Clubs to the well-being of African youth by identifying key community-based initiatives and assessing stakeholder perceptions of their impact. Methodology: The study employed a qualitative diary research design using thematic analysis of 486 public X (formerly Twitter) posts published between 2020 and 2025 by Rotary and Rotaract accounts in Uganda, Kenya, Nigeria, Rwanda, Ethiopia, and South Africa. Data triangulation with web-based reports was conducted to ensure validity, focusing on Rotary initiatives related to health, education, gender equity, water and sanitation, and peacebuilding. Result: Findings revealed that health and disease prevention initiatives accounted for the largest proportion of activities (38.7%), followed by menstrual health and girls’ empowerment (19.8%), education and vocational training (15.8%), water, sanitation, and hygiene (13%), and peacebuilding (12.8%). Stakeholder sentiments were predominantly positive, emphasizing the perceived impact of Rotary’s interventions on youth well-being. Novelty and contribution: The study provides a novel digital ethnographic perspective on how Rotary Clubs contribute to youth development across Africa, highlighting their localized, community-driven approach as a more adaptable and effective model compared to conventional top-down NGO strategies. Practical and social implications: The findings underscore the importance of expanding Rotary’s digital engagement, strengthening partnerships, promoting gender-focused programs, and establishing systematic evaluation frameworks to ensure sustainable and scalable impact on African youth well-being.
Copyright (c) 2025 Rasheed Olawale Azeez, Oladipupo Soetan, Motunrayo Mutiat Abimbola, Wole Adekunle Odubayo (Author) https://creativecommons.org/licenses/by/4.0
Oil Price Volatility and Economic Growth in Nigeria: Evidence from ARCH and GARCH Models
Purpose: This study investigated the impact of crude oil price volatility on Nigeria’s economic growth, with emphasis on the magnitude of oil price volatility and its short-run and long-run effects on economic performance. Methodology: The study adopted a quantitative approach, using annual time-series data for Nigeria. Crude oil price volatility is estimated using the Generalised Autoregressive Conditional Heteroskedasticity (GARCH) model. At the same time, the Autoregressive Distributed Lag (ARDL) bounds testing technique is employed to examine short-run and long-run relationships between oil price volatility and economic growth. Descriptive statistics, unit root tests, cointegration analysis, and diagnostic tests are conducted to ensure the robustness of the model estimates. Results: The findings revealed substantial volatility in crude oil prices in Nigeria, characterised by persistent shocks and volatility clustering. Short-run ARDL results show that oil price fluctuations significantly affect GDP growth, highlighting Nigeria’s vulnerability to external oil price shocks. In the long run, crude oil price volatility significantly reduces economic growth, leading to higher production costs, reduced investment, and sustained economic instability. Novelty and Contribution: The study contributed to the literature by jointly applying GARCH and ARDL techniques to capture both oil price volatility dynamics and their differential short- and long-term effects on economic growth in an oil-dependent economy. Practical and Social Implications: The findings underscore the need for robust oil revenue stabilisation frameworks, including effective use of the Sovereign Wealth Fund, and accelerated economic diversification into agriculture, manufacturing, and renewable energy to promote sustainable economic growth.
Copyright (c) 2026 Gwaison Panan Danladi (Author) https://creativecommons.org/licenses/by/4.0
Taxation and Economic Performance: Direct and Indirect Tax Effects on Nigeria’s Output Growth
Purpose: Historically, Nigeria relied on oil revenue while neglecting taxation as a key source of public finance, leading to macroeconomic instability due to volatile oil prices. Despite numerous tax reforms aimed at improving compliance and reducing evasion, the country has experienced inconsistent output growth, including recessions in 2016 and 2020. This study analyzed the impact of direct and indirect taxes, focusing on company income tax (CIT), petroleum profit tax (PPT), value-added tax (VAT), and customs and excise duties on Nigeria’s output growth from 1994 to 2023. Methodology: The research utilized the Autoregressive Distributed Lag (ARDL) method to examine both short- and long-term relationships between tax variables and output growth. Result: In the short run, results indicated that all tax measures significantly influence output growth. However, none of the variables exhibit a significant long-run influence. Petroleum profit tax (PPT) has the highest average value but negatively correlates with output growth. Value-added tax (VAT) positively affects growth, while customs and excise duties have adverse effects. The Error Correction Model (ECM) confirms a long-run equilibrium relationship among variables, with a highly significant adjustment mechanism. Novelty and contribution: This study adds to the body of knowledge by offering a thorough empirical examination of the tax system in Nigeria and its impact on output growth over a 30-year period, encompassing major economic recessions. It offers evidence-based policy recommendations for optimizing tax administration to foster sustainable economic growth. Practical and social implications: The findings suggested that tax authorities should leverage CIT in the short run to stimulate economic activity. A review of PPT rates or the introduction of tax incentives in the petroleum sector could mitigate its negative growth effects. VAT expansion—either through rate increases or base broadening could enhance output growth, while reducing customs and excise duties may improve trade and industrial performance.
Copyright (c) 2025 Zabwari Abdu Shagir (Author) https://creativecommons.org/licenses/by/4.0
A Systematic Review of Inclusive Economic Growth Through a Sustainable Model for Climate Action Among Member States of the United Nations
Purpose: Climate change poses a global challenge with wide-ranging economic, social, and environmental impacts. As nations confront its effects, they also aim to achieve inclusive and sustainable growth that benefits all. This study identifies sustainable models and strategies to balance climate change mitigation with equitable, resilient, and environmentally responsible economic development. Method: To investigate the topic, the study uses a systematic literature review following the PRISMA guidelines, analysing articles published between 2010 and 2023. It also draws on secondary data from the IMF, UN, and World Bank to provide a comprehensive global perspective. Result: The study advocates for enhanced international cooperation, technology transfer, the establishment of comprehensive climate metrics, the implementation of carbon taxation that commensurate with the economic capacity of each country or region, and an emphasis on immediate climate action rather than solely relying on long-term projections. Novelty and contribution: This study contributes a novel integrative framework that unites climate change mitigation policies with inclusive economic development paradigms domains often treated separately in existing literature. By synthesizing multi-institutional data and systematically reviewing over a decade of evidence, it provides actionable insights for bridging policy and practice. Practical and social Implication: The study provides clear policy guidance for integrating climate goals with inclusive growth. Its proposed models promote sustainable, equitable, and socially responsive climate action, ensuring that environmental policies also advance economic resilience and social welfare.
Copyright (c) 2025 Kayode Omowunmi Ahmed, Salisu Monsuru Adekunle , Elegbede Isa Olalekan, Oladosu Yusuff , Tajudeen Olajide Ajao, Mariam Adeoba, Alli Oyedokun RAFIU (Author) https://creativecommons.org/licenses/by/4.0
Corporate Social Irresponsibility, Greenwashing, and Consumer Skepticism: A Systematic Literature Review on Impacts, Strategies, and Stakeholder Response
Purpose: Corporate Social Irresponsibility (CSI), greenwashing, and consumer skepticism have become pressing concerns in today's business landscape. While companies increasingly adopt Corporate Social Responsibility (CSR) initiatives to enhance their public image, many engage in greenwashing, misleading stakeholders about their environmental practices. Methodology: This study explores the intricate interplay between Corporate Social Responsibility (CSI), greenwashing, and consumer skepticism by synthesizing insights from 54 peer-reviewed articles using the PRISMA framework. The review draws data from the Scopus database and Google Scholar, analysing key themes, trends, and stakeholder responses to greenwashing and irresponsible corporate practices. Results: Findings reveal that companies often report symbolic CSR and employ deflection strategies to obscure socially irresponsible behaviours. Consumer responses include diminished brand trust, increased negative word-of-mouth, and loyalty shifts toward authentic, sustainable brands. Practical strategies for mitigating skepticism include transparent CSR reporting, issuing green bonds, and fostering social media engagement. Novelty and contribution: This study's novelty lies in its integrated analysis of CSI, greenwashing, and consumer skepticism. It contributes a comprehensive framework for understanding how deceptive CSR practices influence consumer perceptions and stakeholder engagement. Practical and social implications: The implications extend to corporate strategies and academic research, emphasizing the need for genuine CSR practices and transparent communication.
Copyright (c) 2026 Azeezah Oyindamola Tayo, Morufu Oladimeji Shokunbi, Usman Olawale Sodiq , Ajani Ibrahim Tunde (Author) https://creativecommons.org/licenses/by/4.0
Macroeconomic Stability in The Era of Climate Change: A Systematic Review of Environmental Risks and Economic Costs
Purpose: Climate change presents escalating threats to macroeconomic stability, primarily through increasing physical hazards and complex transitional dynamics. This study aims to systematically review and synthesize empirical evidence on how climate-related risks disrupt economic systems and fiscal governance across regions. Methodology: This systematic literature review synthesizes findings from 35 peer-reviewed empirical studies published between 2018 and 2025, selected using PRISMA guidelines and sourced primarily from SCOPUS and Google Scholar. Result: The analysis identifies key climate-related risks destabilizing macroeconomic systems: rising CO₂ emissions, extreme weather events, sector-specific vulnerabilities, and financial system fragility. The agriculture and energy sectors were found to be particularly exposed, with low-income and climate-vulnerable economies experiencing disproportionate impacts. Furthermore, climate policy tools, such as carbon pricing and emission regulations, introduce new forms of volatility and fiscal pressure, particularly for carbon-intensive industries. Forecasting models are widely used to estimate economic impacts, but their accuracy is constrained by data limitations and climate uncertainty. Novelty and contribution: This study contributes to the literature by integrating recent empirical findings into a comprehensive review that connects climate risk, sectoral vulnerability, and macroeconomic instability. A significant insight is the role of climate uncertainty in undermining policy confidence, delaying regulatory responses, and weakening macroeconomic governance. The review also emphasizes the inadequacy of current forecasting tools and calls for improved climate–economic modeling. Practical and social implications: This study highlights the need for improved institutional capacity in climate-vulnerable regions, where technical skills and tools for interpreting climate-economic data are limited.
Copyright (c) 2025 Dr. Victoria Adekomaya, Mr. Abdulwahid Tella, Mrs. Sekinah A. Yusuf-Saba, Mr. Ibrahim O. Salami , Miss Zaynab Motunrayo Lukman (Author) https://creativecommons.org/licenses/by/4.0
Does Economic Literacy Matter for Firm Performance and Competitive Advantage: A Systematic Review
Purpose: Economic literacy, the ability to comprehend and apply economic concepts for informed decision-making, plays a pivotal role in enhancing a firm's dynamic capability to navigate a volatile business environment and gain a competitive edge. Methodology: The systematic review, following the PRISMA 2020 protocol, investigates the influence of economic literacy on firms' performance and competitive advantage. Utilizing specific keywords related to economic literacy, firm performance, and competitive advantage, a comprehensive search across relevant databases yielded 107 articles. Through systematic literature review techniques, 28 studies were included in the final analysis. Results: The findings highlight a positive impact of economic literacy on firm performance, enabling organizations to set realistic goals, identify key performance indicators, and experience accelerated growth. Firms with higher degrees of economic literacy exhibit notably faster expansion rates. Novelty and contribution: This review underscores the critical importance of economic literacy for firms striving to compete in an uncertain economic landscape. The research framework contributes to providing a deeper insight and understanding of how economic literacy serves as a strategic asset, empowering organizations to thrive amidst dynamic market conditions. The framework explicitly indicates the chain link and interplay among economic literacy on firms' performance and competitive advantage.
Copyright (c) 2025 Elicit Journal of Economics and Management Studies https://creativecommons.org/licenses/by/4.0
Climate Financing and Low-Carbon Transition: A Systematic Review of the Role of International Development Banks
Purpose: This study investigates the function of international development banks (IDBs) in financing climate initiatives and supporting the transition toward low-carbon economies. It examines the strategies employed, the effectiveness observed, and the challenges encountered by international development banks in augmenting climate financing, as well as their collaborative efforts with other financial entities to improve climate financing outcomes. Methodology: The study was structured according to the PRISMA methodology, which involved a comprehensive review of scholarly literature sourced from reputable academic platforms, including Google Scholar, Elsevier’s ScienceDirect, and SpringerLink, covering the timeframe from 2015 to 2024. The review identified 35 scholarly articles considered relevant to the objectives of this research. Result: The review elucidates the strategies implemented by international development banks in promoting climate financing, including green bonds, climate funds, carbon pricing mechanisms, and partnerships with other financial institutions. Moreover, these findings illuminate the obstacles encountered in the expansion of climate finance and propose potential solutions to address these issues. Novelty and contribution: This study offers a synthesized perspective on how IDBs integrate institutional capacity, innovation, and policy coordination to advance climate finance. It contributes a clearer understanding of their strategic role in accelerating the global low-carbon transition. Practical and social implications: The findings guide policymakers and development financiers on improving institutional frameworks and partnerships for climate finance. Strengthened coordination can enhance green investment flows, promote sustainable growth, and support social and environmental resilience.
Copyright (c) 2025 MUHAMMAD AKANO LAWAL, Oseni, A.A., , Rodiyah Lolade Qadir (Authors) https://creativecommons.org/licenses/by/4.0