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PurposeThe purpose of this study is to examine the impact of green finance (i.e. green investment, green security and green credit) along with capital formation and government educational expenditures on the economic development of (ASEAN) countries.Design/methodology/approachThe data were gathered from the central banks of all ASEAN countries and the World Bank Indicators between 2008 and 2019. The fixed-effect model and generalized method of moments were used to check the nexus between the constructs.FindingsThe results revealed that green finance along with capital formation and government educational expenditures have a positive association with the economic development of ASEAN countries.Research limitations/implicationsThe study carries some limitations, even though it addresses the underlying variables comprehensively. These limitations provide opportunities to future researchers and authors to expand the scope and accuracy of their study. This research investigation has been supported by the data collected from a single source. Though data collection is maintained correctly, it is still recommended to the upcoming scholars to acquire data to reconfirm the same findings using multiple data sources. The data collected from using some specific data source may be limited in scope and may hinder the comprehensive elaboration of the underlying variables and their mutual relationship. Therefore, the utilization of multiple sources of data collection gives data sufficient to meet the requirement of an okay quality research study. The study is about the economies of ASEAN countries. It checks the influences of green finance development on economic activities and the country's economic growth in ASEAN countries' economies. Thus, its results are valid only in the economies of these countries, and this research investigation lacks generalizability. For generalizability, the authors must consider the underlying variables in the world's vast economies. They must adopt a standard scale to judge the impacts of green financial development on economic development. Besides, the study analyzes the economic factors, economic conditions and their effects on the country's position in the world economy in the face of a severe epidemic like COVID-19. Thus, the results may be different in the case of the normal situation. So, a general standardized study is recommended to be conducted in the upcoming days.Originality/valueGreen finance has significant capability to improve the global economy, especially amidst the COVID-19 pandemic. This study is beneficial for policymakers to develop policies related to economic development with reference to green finance and also helps future research on a similar topic.

PurposeBased on the contingency theory and resource-based view, this study develops and tests a moderated mediation model explaining the performance implications of the interaction between the accountants’ participation in strategic decision-making (APAR) and accounting capacity (ACAP) in promoting the use of management accounting systems (MAS) toward enhancing firm performance.Design/methodology/approachUsing partial least squares structural equation modeling, the authors tested the proposed model and its hypotheses with survey data from 340 large Vietnamese firms.FindingsThe results indicate that (1) MAS act as the full mediator in the positive relationship between APAR and firm performance, and (2) ACAP positively moderates the effect of APAR on the use of MAS.Originality/valueOur study bridges the gap between accounting and strategic management literature by elucidating the mechanism by which the involvement of accountants in strategic issues improves the use of MAS toward enhancing firm performance and increases the current understanding of ACAP as a boundary condition for this mechanism.

We textually analyze 10-K texts from EDGAR during 1995-2009 to score firms' investment opportunity sets on multiple dimensions. We identify 646 unique key words that predict future investments and group them into 62 factors. Industry-specific factors include Bio-Pharmaceutical, Banking, Information Technology, Oil & Gas and Semiconductor , while more general factors include Impairment, Debt Intensity, Executive Changes, Preferred Stock Buyback and Capital Seeking. Our multi-dimensional measures of firms' investment opportunities outperform Tobin's Q and/or industry-fixed effects, in predicting out-of-sample future (2010-15) investments and related corporate policies, and even inform incrementally over lagged dependent variables. Our IOS factors outperform Tobin's Q more in subsamples with less efficient market prices, i.e., when Tobin's Q is a noisier signal of investment opportunities.

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