ASEAN Economic Community (AEC) Research Papers (original) (raw)

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his chapter examines the current obstacles and achievements in addressing the consequences of the COVID-19 ‎epidemic on small and medium-sized enterprises (SMEs) using financial technology (FinTech) as a framework. In a ‎contemporary period characterized by the widespread integration of technology across several sectors, the field of ‎financial technology distinguishes itself by harnessing sophisticated technologies to augment the caliber and ‎effectiveness of financial services. The primary objective is to enhance the facilitation of business operations, ‎restore eroded confidence, promote cost-effectiveness, provide a resilient financial infrastructure, and integrate ‎comprehensive solutions for financial institutions. The chapter is structured into three distinct sections, each ‎focusing on different aspects related to the implementation of FinTech solutions, the prospects and achievements ‎of Islamic financial institutions, and the present state of Islamic FinTech. The chapter utilizes a thorough research ‎methodology to examine the varied impact of Islamic FinTech in enhancing economic growth through the ‎provision of Shariah-compliant financial services. Specifically, it focuses on the resilience of small and medium-‎sized enterprises during the pandemic. ‎It offers valuable insights into the problems and triumphs associated with FinTech, with a ‎particular focus on the distinct environment of Islamic FinTech within the broader context of ‎global economic resiliency.

- by Dr. Faraz Umair Afzal and +1
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- Islaimc Banking and Finance

The current study aimed to consider international economic policies influencing the development of Mukdahan economic development zone in relations to its roles and contexts on ASEAN economic cooperation. For research methodology, the qualitative secondary data were analyzed with reasoning correlations and presented with the narrative technique. The results revealed that Mukdahan province has a number of developmental policies that aim to build a hub for global economic integration. However, in reality, being a center of trade and investment has not materialized. Investors seek for their business opportunities in neighboring provinces, such as Nakhon Phanom, because they have better infrastructures essential for economic growth. Mukdahan has faced multiple problems related the allocation of land properties on the main route, train route services, and the establishment of new airport. A boom in the development of special economic zone is a result of local residents and investors raising their land prices, speculating on short-term profitability rather than building long-term economic stability and improving the province's potential. Theses problems have led to new investors' and entrepreneurs' hesitation to invest in their business ventures, and served as an indicator of the paradox of the special economic zone.

- by Olena Hurina
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Lucknow has been actively involved in teaching and research for many years. Mr. Verma has an impressive academic background, having obtained his Bachelor's degree in Commerce from Delhi University and his Master's degree in Commerce from Lucknow University. He has also successfully qualified for the UGC NET JRF in Commerce, Management, Human Resource Management & Economics. This indicates his in-depth understanding of the subjects and his exceptional proficiency in these areas. In his field of expertise, Mr. Verma has authored numerous books and research articles. He has extensive experience with a wide range of offline and online teaching techniques. Mr. Verma's passion for learning and teaching is evident from his various academic qualifications. He is a certified Online Educator and has an Advance Professional Diploma in Career Counseling & Coaching, which are essential skills required for today's education landscape. He also possesses a Certificate Course on Telecom Finance and Accounts from Advance Level Telecom Training Centre (ALTTC), Ghaziabad, Uttar Pradesh.

- by MOHD A K H L A K HUSSAIN
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- Business Management

Green finance refers to financial activities and investments that promote environmentally sustainable economic growth and development. It is a key component of the transition to a more sustainable economy, as it enables the allocation of capital towards activities that contribute to mitigating climate change and reducing other environmental impacts. The objectives of this paper is To examine, explore and provide recommendations for policymakers, investors, and other stakeholders to promote the growth and effectiveness of green finance, and to accelerate the transition towards a more sustainable and resilient economy. The research paper applied Secondary data built on qualitative approach. The result shows the impact of green finance on sustainability is significant, as it helps to accelerate the transition towards a low-carbon economy and reduce environmental risks. Green finance encourages the development of sustainable infrastructure and technologies, which in turn creates new economic opportunities and jobs. Moreover, by integrating environmental and social factors into investment decision-making, green finance also promotes more responsible and long-term investment strategies, which can lead to more stable and resilient financial markets. Overall, the growth of green finance is essential to achieving the goals of the Paris Agreement on climate change and the United Nations Sustainable Development Goals, as it mobilizes capital towards activities that contribute to a more sustainable future.

- by Umar Ali
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- Accounting & Finance

The role of sibling relationship lasts for a lifetime as the siblings spend more time with each other than with their parents. The sibling bond is a special one. This paper addresses the initial results from the pilot study (April-May, 2016) of the research on siblings of children with disabilities. Twelve face-to-face interviews were conducted with siblings without disabilities in the age group ten and nineteen. The purpose was to understand the social attitudes and relationship of the siblings without disability with their siblings with disabilities; besides knowing how well they understand their sibling's impairment. Nevertheless the pilot study highlighted the serendipitous finding on non-disabled sibling's psychological well-being. The initial result signals psychological aspects of distress, worry about future as well as their disabled sibling, lesser parental availability, confusion over their role, lack of communication between parents and non-disabled siblings. These siblings expressed positive, negative as well as mixed responses when they understood their sibling has some kind of disability. It is envisaged that the ultimate outcome of the research would lead to interventions for both the non-disabled siblings as well as the children with disabilities' well-being. The pilot study has shown that the well-being of siblings without disability should be taken into account because of the presence of a child with disability in the family.

- by MADHUSUDANAN SUNDARESAN
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- Social Work, Disability Studies, Disability, Siblings Relationships
- by Josephine Jarabo
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- by Alfred Borgonovo
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- Business, Accounting

Regional Economic Integration is considered the most powerful method of ensuring productivity and attaining economic prosperity. ASEAN Economic Community established to achieve one vision, one identity, and one community is one of Asia's most promising regional economic integration. It aims to emerge as a leading integrated economy in the world. To establish this community, ASEAN adopted Blueprint-2015 in 2007; after implementing the community, it enhanced this blueprint and adopted Blueprint-2025 in 2015. The Blueprint-2025 mentioned five characteristics as the target for ASEAN Economic Community to be undertaken for 2016-2025. Besides, the blueprint also mentioned some significant elements associated with the characteristics. This study focused on the empirical analysis of these characteristics of Blueprint-2025. Therefore, this work used the data of the ten ASEAN countries from 2010 to 2019 by selecting some indicators representing the elements of these characteristics. The f...

- by Prasanna Rajapakshe
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- Business, Globalization, Economies
- by Reni Suasih
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- Business

Globally, a growing number of stakeholders recognise that sustainability determines success on multiple levels. Therefore, asset managers in developing and emerging countries increasingly focus on sustainable investment opportunities. While institutional investors largely centred on governance considerations pre-2020, the Coronavirus pandemic highlighted substantial social and environmental concerns at companies worldwide. As South Africa is the most unequal country globally according to the World Bank, decisions made by local institutional investors can have significant implications for individuals and environments where capital is invested. The objectives of this study were hence to analyse the sustainability themes on which South African asset managers focused in their stewardship reports and to explore the Sustainable Development Goals (SDGs) that they addressed through their investment mandates. A content analysis was performed on stewardship reports that were published in 2020...

- by Kara Nel
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- Sustainability

Economic globalization has created many challenges for small and medium enterprises (SMEs) due to the rapid increase in competition. Therefore, the downfall rate of SMEs is relatively high, a short period after their commencement. Accordingly, SMEs need to adopt survival strategies and strategic methods to succeed in confronting the various global challenges faced by the SME sector. This study critically examined the existing literature on global challenges for SMEs to understand the SMEs’ survival and successive mechanisms in the present competitive business background. Published information related to the field by the multilateral institutions and 110 research papers published by four recognized publishing companies, i.e., Emerald, Elsevier, Taylor and Francis, and MDPI, were chosen for this study. The review revealed the critical global challenges for SMEs within the context of economic globalization. They are the global market competition, global finance and economic crises, inf...

- by Prasanna Rajapakshe
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- Business, Globalization, Economies

Purpose: The aim of this study is to examine the adoption of new technology within the Meetings, Exhibitions and Conventions sector in Thailand. Theoretical framework: An adapted version of the diffusion of innovation theory combined with variables from the Technology Acceptance Model (TAM) is used to define the key variables upon which data is gathered. Design/methodology/approach: The study reviews the MEEC/MICE sector in Thailand and its importance, the existing level of the adoption of new technology and the government plan to encourage further adoption. An online survey of 302 MEEC/MICE Organizers is analysed using stepwise Multiple Linear regression to estimate the attitude of the organizers toward new technology and which factors have the greatest influence on their intention to adopt new technology further. Findings: The results indicate that 85% of the study participants are currently adopting MEEC/MICE technological innovation in one way or another, and 99.6% are of ...

- by Hélène Berchem
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- by Nadia Mans-Kemp
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- Sustainability

- by Philaiwan Chompupor
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The commitment to generating a blended value is increasingly spreading in the business sector. At the forefront of this movement, impact ventures are organizations born to produce value for the society, i.e. social impact, while engaging in commercial activities to sustain their operations. On the other end, we have observed an increased emphasis on more responsible, sustainable practices that traditional for-profit businesses have been called to establish. Accounting for and reporting on social impact has become increasingly of interest to a range of institutions and sectors, with the result that many competing methodologies, approaches, guidelines and standards have been introduced. The chapter performs a comprehensive review of existing approaches for impact measurement and management implemented by socially-oriented ventures (both not for profit organizations and for-profit businesses) focusing on both methodological, governance and operational barriers and enabling factors of t...

- by Irene Bengo
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- Business, Entrepreneurship, Social Entrepreneurship, Corporate Governance
- by yudy wijaya
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- Business

Crowdfunding is an emerging practice that plays a central role in funding innovative ideas that support social sustainability. B-Corps are sustainable companies that are increasingly pursuing innovative financial strategies to fund their corporate sustainability goals. To date, the use of crowdfunding as a social financing innovation by B-Corp organisations has received scant attention. This paper contributes to closing this gap by addressing three research questions. The first investigates the relationship between B-Corps certification and the use of crowdfunding. The second explores whether there is a relationship between crowdfunding and Sustainable Development Goals (SDGs). The third investigates B-Corps’ level of information transparency in relation to this innovation and SDGs. Our investigation involved a cross-analysis of B Labs and the main crowdfunding platforms. In total, 28 B-Corps were identified as using crowdfunding platforms. Of these, 22 were selected for analysis. O...

- by Audrey Paterson
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- Business, Certification, Sustainability
- by Lucia Michela Daniele
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- Business
- by Guido Benny
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- International Relations, Regionalism, Public Opinion Research, Economic integration

The ASEAN Economic Community (AEC), a regional integration in Southeast Asia that started at the end of 2015 and is expected to bring new challenges and opportunities. However, an assessment of the capabilities of Indonesian management accountants suggests that they may struggle with challenges because of the free flow of skilled labour. In this study, we aimed at presenting and analysing Indonesian experts’ perspectives on the readiness of management accounting professionals in Indonesia to work in the new economic era. It also provides recommendations for improvements in the profession. This research uses in-depth interviews as well as questionnaires distributed to top-level management; some of the participants are also working as academics in universities. This study found that class differences as theorised by Weber play significant roles in determining readiness. These differences could be attributed to the perceived qualities of universities in Indonesia, implying that managem...

- by Desi Adhariani
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- Political Science, The qualitative report

Autoethnography is a research approach which uses self-reflection andwriting to explore a particular phenomenon but it is seldom used inthe business and accounting field. Nevertheless, the autoethnographicapproach is not without its benefits and this paper thus advocatesusing the autoethnographic approach as a way of understanding thetrials and tribulations of sibling caregivers of persons with disability.Through this vignette, this paper hopes to highlight the plight ofone sibling caregiver. It also emphasises on the anomaly currentlyexisting in the Malaysian tax rules in respect of tax relief for siblingcaregivers. By further drawing on the experience of two ASEANEconomic Community (AEC) member countries, namely Singaporeand Thailand, this study voices the need to synchronise tax reliefconferred on sibling caregivers who are also taxpayers.Keywords: Autoethnography, ASEAN Economic Community (AEC),Sibling Caregivers, Tax Policy, Tax ReliefJEL Classification: I31, I38, M48

- by Siva Nair
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- Sociology, Autoethnography, Tax Policy, Tax Relief

The latest studies reveal that the COVID-19 pandemic has pushed investors in developed economies to focus more on the value attached to environmental and social responsibilities. Unfortunately, socially responsible investment and compliance with environmental, social and governance criteria are not given enough priority in Latvia at present. The purpose of the study is to investigate how the COVID-19 pandemic has influenced the willingness of Latvians to invest in assets that meet environmental, social and governance (ESG) criteria and factors influencing investors’ choice based on their financial literacy. Different views on sustainable investments, socially responsible investments and the relevance of environmental, social and governance criteria from private investors’ perspectives were analyzed to identify factors influencing investment decisions in favour of sustainable investments. Quantitative analysis was carried out to reveal the regularities between financial literacy, the...

- by Inese Mavlutova
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- Sustainability
- by Sity Daud
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- International Relations, Regionalism, Public Opinion Research, Economic integration

As a regionalism initiative, establishment of the ASEAN Community needs plausible level of public awareness, good public perception and strong public support from the public for its legitimacy. The current paper discusses the opinion among the public pertaining to regional economic integration under the ASEAN Economic Community initiative in comparison to political-security cooperation under the ASEAN Political Security Community in 2015 among educated public in four ASEAN countries, namely Malaysia, Indonesia, Thailand and Vietnam. The study aims to solicit and

- by Sity Daud
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- International Relations, Regionalism, Public Opinion Research, Economic integration

- by Yoopi Abimanyu
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- Political Science
- by Andrei Busuioc
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This report focuses on the latent potential and essentials of impact investing. It is an emerging, innovative form of SDGs investment for realization of the SDGs in ASEAN. Impact investing is distinct in its intentionality in creating and measuring societal impact along with financial return, beyond mitigating risk and incorporating factors related to environment, society and governance (ESG). This report aims to further mobilize financial resources that can be measured in terms of both financial and societal performance to accelerate realization of the SDGs, as part of the “Decade of Action”.

- by Aya Ono
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- Social Entrepreneurship, ASEAN Secretariat, ASEAN, Venture Philanthropy

Buku ini sangat kaya informasi dan data yang baru dan
valid mengenai isu terkait. Struktur buku ini juga ditata secara
sistematis dan logis serta komprehensif. Dimulai dari pembahasan
secara mendalam aspek konseptual dari isu yang dibahas, dilanjutkan
dengan melihat perkembangan UKM di ASEAN dan
di Indonesia, untuk kemudian mengerucut pada studi kasus
UKM di DIY. Buku ini, dengan demikian, bermanfaat bukan
saja untuk kepentingan pengetahuan semata tetapi juga untuk
bahan kajian dan pertimbangan dalam membuat keputusan di
berbagai tingkatan. Buku ini oleh karenanya layak untuk dibaca
oleh para pelaku UKM, pembuat kebijakan dari instansi terkait
di berbagai tingkatan serta para peneliti dan mahasiswa yang
tertarik untuk memahami UKM khususnya, dan UKM dan MEA
pada umumnya.

- by Nisa Agistiani Rachman
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- Economics, Small and Medium-scale Enterprises, ASEAN, ASEAN Studies

Thailand is located in the center of ASEAN countries. Tourism is a major industry in Thailand. MICE sector as niche tourism generates huge profit for national economy. The aim of this paper is to examine the factors that influence MICE industry development in Thailand, its contribution to tourism industry and challenges involved in MICE sector. This paper further discussed role and involvement of TAT and TCEB in support of MICE sector in Thailand in AEC 2015. Qualitative research technique was used in this study. Semi-structured interviews were conducted with three government organizations officials and one scholar in March 2015 to collect primary data. The study employed thematic analysis to express findings. The findings revealed that Thailand's MICE industry is affected by many aspects, such as infrastructure and facility, attractions, budget, political issues and knowledge. Findings also indicated that to meet challenges of AEC, strategies in the form of collaborations and connections, business opportunities, government involvement, and green MICE need to be employed in the future.

- by Nan Hua and +1
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- Thailand, MICE tourism, MICE Industry in Asia, ASEAN Economic Community (AEC)

Thailand's accountancy and corporate financial reporting have seen great improvement after the 1996/97 Asia financial crisis which originated from Thailand. However, the strategic role played by strong professional accountancy system in sustainable economic development has not been given national importance as has been given other academic spheres such as science and technology. The Federation of Accounting Professions (FAP), the regulatory body of Thailand's professional accountants, requires potential members to have successfully completed a bachelor's degree or its equivalent in any of the approved universities in Thailand by the Federation. At any given examination, at least 3000 candidates attempt the professional CPA examination administers by the FAP. Approximately 5-6% of the candidates pass each examination. This very low passing rate is an indication of the lack of appreciation of the importance of accountancy education in Thailand and calls for change in perspective of accounting and auditing education in Thailand's universities. This case review highlights the important role played by robust accountancy education in national development, the need for capacity building, the need to improve and maintain high quality of accountancy programs in academic institutions throughout Thailand, the creation of awareness of the high value of professional auditors and accountants in national development, and the need for transparent and sustainable reporting regime within Thailand's corporate bodies for sustainable economic development.

- by Eric Bediako
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- Higher Education, Accounting, Financial Accounting, Academic Writing

- by Guido Benny
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- International Relations, Regionalism, Public Opinion Research, Economic integration

In an era of globalisation where economies are becoming more inter-connected, new realities have set in as new growth
centres have emerged and this has impacted the way business is conducted around the world. Across the Association of South
East Asian Nations (ASEAN), the establishment of the ASEAN Economic Community (AEC) on 31 December 2015 marked a
new beginning for regional economic cooperation amongst 10 countries, namely Indonesia, the Philippines, Malaysia,
Singapore, Thailand, Vietnam, Brunei, Laos, Myanmar and Cambodia. The AEC will transform the region into a single market
and production base, with a free flow of goods, services, investments and skilled labour, as well as a free movement of capital.
With the formation of this new economic community, it has created the seventh largest economy in the world, with a
population of over 622 million people and a combined gross domestic product (GDP) of US$ 2.4 trillion, according to data by
the Asian Development Bank.
The establishment of the AEC has also seen a shift towards jobs that require highly skilled talents. To help facilitate this
growth, the Mutual Recognition Arrangement (MRA) was put in place to cover several professions including accounting,
engineering, nursing and medical personnel. It was introduced with the aim of achieving professional certification and
standardisation by acknowledging the differences inherent across these countries in terms of education, training, experience
and licensing requirements for professionals.
With the region transforming itself into a global economic powerhouse, the need for skilled talent that serves the business
growth of this integration continues to increase. In light of this, the “ASEAN Economic Community and the Management
Accountant Profession in Indonesia” study was conducted by Dr Desi Adhariani and Dr Sylvia Veronica from Universitas
Indonesia. The objective of the study was to assess the capabilities of Indonesian Management Accountants in the face of
challenges and opportunities as well as the skills and training required in order to achieve the qualification standards in place.
It involved 24 in-depth interviews with experts while the survey (both online and paper) received feedback from 176
respondents.

- by Desi Adhariani
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- Accounting, Management Accounting, Asean Economic Community, Accounting Profession

asean economic community (AEC)

- by roni saputra
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- Masyarakat Ekonomi Asean, ASEAN Economic Community (AEC)

The ASEAN Economic Community (AEC) will be established in 2015 to integrate the regional economy. A professional accountant in a member country may then apply to practice in other member countries. This exploratory study investigates the competencies of Thai accounting students and their readiness for the AEC, and also tests for the relationships between the students' competencies and their level of readiness. This study finds that the accounting students' Ethical, Knowledge, Capability, and Relationship competencies are at the high level, while their Analysis competency is only at the moderate level. The level of students' readiness for the AEC is indicated to be at the medium high level. The results of the regression analysis show a significant positive relationship between the accounting students' Capability, Knowledge, Ethical and Relationship competencies, and the level of their readiness for the AEC.

Autoethnography is a research approach which uses self-reflection and writing to explore a particular phenomenon but it is seldom used in the business and accounting field. Nevertheless, the autoethnographic approach is not without its benefits and this paper thus advocates using the autoethnographic approach as a way of understanding the trials and tribulations of sibling caregivers of persons with disability. Through this vignette, this paper hopes to highlight the plight of one sibling caregiver. It also emphasises on the anomaly currently existing in the Malaysian tax rules in respect of tax relief for sibling caregivers. By further drawing on the experience of two ASEAN Economic Community (AEC) member countries, namely Singapore and Thailand, this study voices the need to synchronise tax relief conferred on sibling caregivers who are also taxpayers.

- by Siva Subramanian Nair and +2
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- Autoethnography, Tax Policy, Tax Relief, Siblings, Caregivers, Schizophrenia

Abstract. Facing the ASEAN Economic Community (AEC) 2015, Indonesia has a potency in culinary as a part of small and medium businesses. Indonesian cuisine has been proven to have a special value because its basic ingredients are spices which are unique due to climatic differences. At the same time, Small and Medium Enterprises (SMEs) also has a strategic role to deal with AEC because they can absorb unskilled labor which dominated Indonesian's labor. The problem that arises is that many products owned by the SMEs are not structured as a high-value products, while its culinary value is very high when compared to the products from Malaysia and Singapore. Therefore, it needs an integrated concept of SMEs marketing that can deliver the value of SME's products.

- by Mir’ah Filasufa
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- Economics, Auditing, Accountancy, Accounting and Auditing

ABSTRACT
One of the challenges facing Indonesia in the Asean Economic Community in 2015 is the equal distribution of human resources between urban and rural. Rural communities most at risk of a negative impact of these policies because they have relatively low levels of education than urban communities. Negative impacts occur after the entry of a higher quality product that threatens the existence of the rural local products.
Another impact of the entry of foreign cultures through various types of media and direct interaction of individuals who are not in accordance with the local culture of rural communities. So That people lose the identity of the original culture. One solution that can be done to overcome these problems is the development of education and skills training base in the countryside. Planning education and training program in the village had to accommodate the needs of rural communities and should differentiated from age group. Adult education focused on aspects of entrepreneurial management, SME development, improved farming skills, farming, trade, and skills educate children to the mother. Education adolescence should directed to the formation of the soul of leadership, entrepreneurship, understanding of local cultural values. Its an increase in the provision of skills for the world of work, rural natural resource processing, critical thinking skills and innovative, as well as the younger generation of character education based on local cultural values. Early childhood education programs (ECD) should directed to the introduction of science and environmentally friendly technologies, the introduction of local cultural values, and ethics character formation children, instilling aware the environment and others. 1n 2013, Accelerating the improvement of education in a village is possible because a village will have sufficient funds in line with the enforcement of the Law no. 6 2014 about the village. Important point Act stipulates about government's obligation to allocate the funds about 10 percent of the state budget for rural development.

- by Syam Surya Syamsi and +1
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- Community Organizing