Current Issue
Volume 25, Number 1 (2026)
Published Jun 30, 2026 · 9 articles
Research Article · pp. 1-22
The Influence of Explainable and Generative Artificial Intelligence Quality on FinTech Adoption: A Study in VietnamNguyen Van Tho, Tran Duy Thanh
This study investigates the quality of Explainable Artificial Intelligence (XAI), the quality of Generative Artificial Intelligence (GAI), and their impact on FinTech adoption, particularly in the context of Vietnam. The author develops a research model based on the Stimulus-Organism-Response (SOR) model framework, integrating the Information Adoption Model (IAM), the Technology Acceptance Model (TAM), the Information System Success Model (ISS), and the causal relationship model between humans and AI. The study surveyed 505 users of fintech applications in Vietnam and employed Structural Equation Modeling (SEM) to test the hypotheses. The results indicate that seven hypotheses were supported, while one was not. The findings of this study provide recommendations for AI system providers to enhance quality, fostering better understanding and confidence in fintech adoption. Additionally, the study offers insights for businesses to implement fintech solutions, disseminate fintech knowledge to consumers, attract customers, and optimize profitability.
doi:10.17477/jcea.2026.25.1.001 PDF on KoreaScienceExplainable artificial intelligencefintech adoptiongenerative artificial intelligencegreen finance
Research Article · pp. 23-45
Factors Affecting Financial Leverage: A Study on Capital Structure in Bangladeshi Metal and Cement IndustryShakil Ahmed Sabuz, Md. Yousuf Harun
This paper assesses the financial leverage determinant factors regarding firm-specific variables and macroeconomic variables in the Bangladesh metal and cement industry. The usage of RE, FE, bootstrapping, year fixed, and GMM has tried to address endogeneity, heteroskedasticity, and autocorrelation and to provide valid inferences. The results indicate that profitability and firm size positively influence leverage, showing profitable and better access of larger firms to debt finance. Liquidity and risk reduce leverage, reflecting the cautious approach of firms towards financial distress. Growth opportunities have a positive but insignificant influence on leverage, supporting little to no influence on leverage decisions. GDP growth has a positive influence on leverage. However, unexpected positive signs from inflation and interest rates indicate that firms adjust financing policies to the state of the economy. From these findings, there are implications for the optimization of corporate managers and policymakers in capital structure decisions that ensure financial flexibility, adding to financial stability in developing economies and changing economic environments. In general, firm size, macroeconomic factors, and risk remain the most crucial determinants of financial leverage.
doi:10.17477/jcea.2026.25.1.023 PDF on KoreaScienceDeterminants of leverageCapital StructureFirm sizeRandom effects modelBangladesh
Research Article · pp. 46-67
Entertainmentization of Celebrity Conversion as a Form of Communicative CapitalismAndi Mirza Ronda, Frengki Napitupulu, Des Hanafi
The phenomenon of celebrity conversions exposed through digital media has been transformed into an entertainment product within the framework of communicative capitalism. The event is packaged with dramatization, emotionality, and cinematography that resembles performing arts in the format of films, soap operas, or artistic documentaries. This study examines how celebrity conversions (Ruben Onsu, Nita Gunawan, Davina Karamoy) are presented on the YouTube platform to attract audience attention and optimize monetization. Using a qualitative approach with Critical Discourse Analysis methods, this study found that celebrity conversion content is produced in a nearly identical pattern, with narratives of self-discovery, emotional background music, and cinematography aimed at building emotional engagement with the audience. The results of this research indicate that personal spiritual experiences have been transformed into digital commodities capitalized on through an entertainment-based communication model. By revealing how celebrity religious conversions are strategically packaged as entertainment within the framework of communicative capitalism, this study offers an original critical perspective that bridges religious studies, digital media, and the attention economy-an intersection that remains underexplored in existing scholarship. This research raises critical public awareness of how religion is presented in digital media, as well as the importance of distinguishing between authentic spirituality and commercialized religious content. The findings also open up opportunities for further research in the fields of media, religion, and the digital economy.
doi:10.17477/jcea.2026.25.1.046 PDF on KoreaScienceConversionCelebrityDigital MediaEntertainmentizationCommunicative Capitalism
Research Article · pp. 68-99
Monetary Dynamics in Nepal: An ARDL Approach to Price Level, Income, and Money Supply InterlinkagesOm Prakash Pokhrel, Lija Boro, Bharat Ram Dhungana, Laxmi Kanta Sharma, Arjun Kumar Baral, Ramkrishna Chapagain
Purpose: The relationship between price levels, money supply, and output has long been a subject of macroeconomic research, yet findings remain inconsistent, with differing views among economists. This study examines whether long-run and short-run relationships exist between price levels (CPI), real broad money supply (M2), and real GDP (GDP) in Nepal. Design/Methodology/Approach: Using annual data from 1974 to 2021, this study employs the Autoregressive Distributed Lag (ARDL) model, cointegration analysis, error correction mechanisms, and causality tests, with GDP as the response variable. Findings: The results confirm a long-run cointegrating relationship, with M2 and CPI having a positive influence on GDP. In the short run, inflation has a negative effect on output, while an increase in the money supply has a stimulating impact. Causality tests reveal a bidirectional relationship between M2 and price levels, while unidirectional causality runs from the CPI to GDP and from GDP to M2. Implications/Limitations: These findings highlight the non-neutrality of money in the short term and its strategic role in long-run economic performance. The study provides evidence-based guidance for inflation targeting and monetary-fiscal coordination to foster macroeconomic stability in Nepal. However, the study is limited to the Nepalese context and may not be generalizable to other economies. Originality/Value: By applying robust econometric techniques, this study highlights the critical role of price stability in promoting economic growth and controlling inflation in Nepal, providing policymakers with valuable insights.
doi:10.17477/jcea.2026.25.1.068 PDF on KoreaScienceCointegrationGDPincomeBroad money supplyprice level
Research Article · pp. 100-118
Soft Subversion in Sound: Homophonic Pun Memes and Youth Cultural Resistance in China's Digital SphereJiaxin Yang
This paper examines homophonic pun memes on Chinese social media as hybrid cultural artefacts that fuse traditional wordplay with the dynamics of digital youth culture. Drawing on meme theory, semiotics, and youth subcultural theory, it explores how urban Chinese youth use these memes as playful yet politically inflected forms of expression within an algorithmically governed media environment. Employing a mixed methodology that combines digital ethnography with qualitative content analysis, the study investigates how linguistic creativity and visual humour intersect to produce participatory decoding practices and affective communities. The findings suggest that these memes function as soft subversion-a subtle mode of resistance and self-definition within a semi-authoritarian digital ecology-while simultaneously being neutralised and commodified through platform logics. By situating the Chinese case within broader debates on participatory culture and digital subversion, the paper contributes to a more inclusive understanding of how everyday online practices reshape politics, affect, and identity within the global meme ecosystem.
doi:10.17477/jcea.2026.25.1.100 PDF on KoreaScienceHomophonic Pun MemesDigital Youth SubcultureSoft SubversionParticipatory CultureChinese Social Media
Research Article · pp. 119-139
User Information Satisfaction on Sina Weibo: Evidence from Chinese College StudentsYuxi Huang
With the rapid growth of mobile Internet use in China, Sina Weibo has become a dominant social media platform that significantly influences how users access and evaluate information. This study examines the factors affecting user information satisfaction among Chinese college students by constructing a quality evaluation index system and applying multiple regression and ANOVA analyses in SPSS. Data were collected through an online questionnaire distributed via WeChat, yielding 403 valid responses. Four dimensions of information quality-completeness, accuracy, format, and currency-were analyzed as independent variables, with user information satisfaction as the dependent variable. The results show that completeness, format, and currency significantly and positively affect user satisfaction, while accuracy has no significant influence when other factors are controlled. Gender also exerts a significant effect, with female students reporting higher satisfaction levels than males. Among the predictors, completeness has the strongest effect, indicating that users value detailed and comprehensive information most. These findings suggest that Chinese college students' satisfaction with Sina Weibo is primarily determined by how complete, clearly presented, and up-to-date the information is. The study provides theoretical and practical implications for understanding user perceptions of information quality and for improving information management and user experience on Chinese social media platforms.
doi:10.17477/jcea.2026.25.1.119 PDF on KoreaScienceSina Weibouser information satisfactioninformation qualitycompletenessaccuracy
Research Article · pp. 140-165
Green Financial Policies and Corporate ESG Performance: An Analysis of Difference-in-Differences in Indonesia's Manufacturing SectorJustita Dura, Satya Fauziah
Green finance is essential in motivating corporations to incorporate environmental, social, and governance (ESG) norms into their operations. This study seeks to examine the impact of green financing regulations on enhancing ESG performance within Indonesia's manufacturing sector, utilizing data from publicly listed businesses from 2015 to 2023. A quasi-experimental methodology utilizing the Difference-in-Differences (DID) model is employed to assess the effects of this strategy. The study's results indicate that (1) green finance policies markedly enhance the ESG performance of manufacturing firms, particularly those with sufficient financial resources to comply with policy mandates. (2) The policy encourages the development of green innovations, such as investment in environmentally friendly technologies and the adoption of sustainability practices. However, the impact of reducing corporate pollution emissions is still limited because the company's focus tends to be on initial risk mitigation rather than efforts to handle postproduction pollution. 3) According to a heterogeneity study, businesses located in areas with more stringent environmental regulations are more receptive to green finance initiatives than those in areas with less stringent regulations. These findings have significant ramifications for Indonesia's creation of more effective green finance regulations, raising corporate ESG awareness, and promoting cooperation between industry participants and regulators to meet sustainability and carbon neutrality targets.
doi:10.17477/jcea.2026.25.1.140 PDF on KoreaScienceGreen FinanceEnvironmentalSocialGovernanceCorporate
Research Article · pp. 166-182
A Filipino Town Called "Little Manila" in South Korea: An Autoethnographic StudyInero Valbuena Ancho
The present study employs autoethnographic research to explore Little Manila in Hyehwa-dong, Seoul, South Korea. As an informal Filipino community located in the capital city, the proponent of the study draws on personal reflections and immersive engagements to capture the narratives of Filipino migrants as they build their communities through identity formation and social structures while being in a foreign land. Socio-cultural dynamics have shaped the transnational space through emerging challenges and experiences faced by Filipinos who have left the Philippines for various reasons. The autoethnographic experience highlights three prominent faces: the space (Little Manila at the End of the Tunnel), the tastes and flavors (Food at the Core of Filipino Gatherings Overseas), and the spirituality (Catholicism and Sundays as Little Manila's Defining Experience). As a vital hub central to cultural preservation, harmonious coexistence, and identity formation, Little Manila also emerges as a space for community support, offering a sense of belonging and familiarity in a foreign country. Ultimately, this study aims to provide insights into the lives of Filipinos in South Korea and contribute to the discussion on Filipino identity, migration, and community support in the contemporary landscape.
doi:10.17477/jcea.2026.25.1.166 PDF on KoreaScienceFilipino communityKoreaenclaveculturemulticulturalism
Book Review · pp. 183-186
Book Review: Saveliev, I., & Hall, N. A. (Eds.). (2025). Migration, aging and Japan's sustainable society. Taylor & Francis.Aashlesha Marathe