2025-08-27
Qing Lu, Ravichandran Moorthy
The rapid evolution of the digital economy has significantly heightened global competition between the United States and China, especially in the area of digital infrastructure development centred around 5G technology. This competition situates the ASEAN member states (AMS) at a strategic intersection of these two superpowers, compelling them to manoeuver through a complex geopolitical landscape. This study seeks to analyse the strategies that the United States and China are deploying in Southeast Asia’s digital infrastructure, with a particular focus on 5G technology, and to evaluate the implications for the digital future of ASEAN. The study utilises a comprehensive literature review methodology, scrutinising relevant scholarly articles, policy documents, and reports from the period 2013 to 2023. Despite the United States' escalating security concerns regarding Chinese technology, the AMS has opted for a balanced and diversified approach in selecting their 5G vendors. This strategy demonstrates their attempt to harmonise technological advancement with security imperatives. The findings indicate that AMS has preserved their strategic autonomy in the face of U.S.-China competition by diversifying their technological partnerships and avoiding dependence on any single supplier. Nonetheless, this approach presents substantial challenges, including economic vulnerabilities, security risks, and the intricacies of geopolitical entanglements. The article anticipates that AMS will continue to adeptly balance their relationships with both the United States and China, targeting digital sovereignty that aligns with their long-term developmental goals. This study contributes fresh insights into the digital geopolitical dynamics of Southeast Asia and provides valuable perspectives for policymakers and business entities operating within this complex environment.
2025-08-27
Chai Aun Ooi, Agung Masyad Fawzi, Woei-Chyuan Wong
The principal-agent contract motivates managers to take risks to increase shareholders’ returns. A key issue is whether managerial risk-taking decisions are made at the cost of sustainable practices, particularly in relation to environmental protection, which may conflict with profit-seeking activities. This study examines the impact of managerial risk-taking on firms’ energy efficiency practices using a sample of 36 countries from 2006 to 2019. We further investigate how firm size, as a tangible resource, and board size, as an intangible resource, moderate this relationship. Our findings suggest that, although managers take risks to seek higher profitability from investments that may not align with environmental sustainability, intangible resources such as board size can help bridge the gap between profitability and sustainability. However, tangible resources may shift firms’ focus away from sustainable practices, directing attention toward profitable investments that might not be environmentally friendly. In practice, this study highlights the importance of corporate governance, particularly board composition, which plays a key role in contributing to corporate sustainability.
2025-08-27
Dairabi Kamil, Abdul Hamid Busthami Nur, Yoki Irawan
This study aimed to document, explore, and compare rationales, strategies, and challenges, as well as identify best practices in the internationalisation of several Islamic universities in Indonesia and Malaysia. Drawing on a multiple case study approach, data are sourced by collecting pertinent documents and conducting semi-structured interviews with key informants from public and private Islamic universities in both countries. Data analysis was carried out in two stages. First, the data were analysed separately based on their characteristics. Documents were analysed using document analysis techniques, while data from interviews were examined through thematic analysis. In the second stage, all findings from the first data analysis were collated for a cross-case analysis to identify similarities and differences. The study discovered that both Indonesia and Malaysia aim to address globalisation and enhance their international standing by internationalising their higher education institutions (HEIs). In Indonesia, achieving better academic recognition through internationalisation is a major motivation for Islamic HEIs, especially those seeking a better accreditation status. Although similar motivation is shared by some of the participating Malaysian Islamic HEIs, but achieving academic global prominence has been the major objective of their internationalisation programs. The study also found that the internationalisation strategies of Islamic HEIs in both countries aligned with multiple typologies of internationalisation strategy. However, various challenges hinder the internationalisation efforts of Islamic HEIs in both contexts, including language proficiency, multicultural awareness, the implementation of sustainable and cost-effective internationalisation programs, immigration and international student regulations, as well as inadequate staffing in international offices.
2025-08-27
William Choo Keng Soon, Chan Pui Yee, Dinesh Kumar Saundra Rajan, Muhammad Ashraf Anuar
Malaysia’s stock markets experienced significant declines as the virus spread throughout the global pandemic of COVID-19. This study was undertaken to investigate the global pandemic COVID-19 and Malaysia stock market volatility during the Movement Control Order from 18 March 2020 until 30 September 2022 using a mixed method of quantitative and qualitative data. The Exponential Generalized Autoregressive Conditional Heteroskedastic (EGARCH) methodology was employed to analyse identified quantitative variables and understand stock return patterns, along with a qualitative exploratory sequential mixed methods approach to investigate the phenomenon. The EGARCH empirical finding reveals statistically positive coefficients and highlights substantial continuity in Malaysia’s stock market return volatility, besides negative shocks and significance between the variables in considering uneven volatility and their impact on FTSE Bursa Malaysia KLCI stock returns, except for Malaysia’s gold price.
2025-08-27
Nam Van Lai, Chung Quang Le, Quyet Thi Nguyen
This article examines Vietnam’s strategic approach to managing global dynamics, focusing on organisational adaptation and strategic management amid complex technological, geopolitical, and environmental challenges. Applying complexity theory, landscape genetics, and strategic improvisation, this study provides insights into Vietnam’s responses to geopolitical conflicts, climate change impacts, and cybersecurity threats. It highlights Vietnam’s strategies in environmental conservation, such as combating sea level rise, and the role of technological integration, including artificial intelligence and digital transformation, in enhancing national resilience. Vietnam’s partnerships in maritime security, especially concerning the South China Sea, illustrate its adaptive capabilities in securing territorial and economic interests. Additionally, this paper emphasises the significance of corporate entrepreneurship and talent management in fostering innovation and resilience. The findings underscore the necessity for flexible, collaborative strategies for sustainable development and national security, positioning Vietnam as a resilient actor within the Asia-Pacific region.
2025-08-27
Pandu Adi Cakranegara, Gunarto, Anis Masdurohatun, Bambang Tri Bawono
This study examines Indonesia's challenges in meeting its citizens' housing needs amidst globalisation and economic liberalisation. The research aims to identify effective housing policies from developed and developing countries that can be adapted to the Indonesian context. Through a comparative analysis of housing policies in North Western Europe, the United States, Thailand, the Philippines, and Malaysia, the study explores different approaches to addressing housing affordability and accessibility. Findings reveal that developed countries leverage robust institutions and capital resources to implement tax and subsidy mechanisms, while developing countries face limitations due to financial constraints and low tax revenues. The study suggests that Indonesia can adopt successful policies from developed nations, such as targeted subsidies and incentivising private sector participation, while tailoring them to align with Indonesian values and socioeconomic conditions. This study examines Indonesia's challenges in meeting its citizens' housing needs amidst globalisation and economic liberalisation. The research aims to identify effective housing policies from developed and developing countries that can be adapted to the Indonesian context. Through a comparative analysis of housing policies in North Western Europe, the United States, Thailand, the Philippines, and Malaysia, the study explores different approaches to addressing housing affordability and accessibility. Findings reveal that developed countries leverage robust institutions and capital resources to implement tax and subsidy mechanisms, while developing countries face limitations due to financial constraints and low tax revenues. The study suggests that Indonesia can adopt successful policies from developed nations, such as targeted subsidies and incentivising private sector participation, while tailoring them to align with Indonesian values and socioeconomic conditions. This study reveals key differences in how developed and developing countries approach housing policy. While developed nations leverage strong institutions and significant capital for tax and subsidy programs to improve affordability and access, developing countries like Indonesia face limitations due to financial constraints and lower tax revenues. The research contributes valuable comparative analysis and policy recommendations for Indonesia, suggesting the adoption of targeted subsidies and incentivising private sector participation tailored to the country's unique context. Ultimately, it highlights the need for context-specific solutions to address housing challenges in a globalised world.
2025-04-29
Symeon Mandrinos, Constance Liew Sat Lin
This study employs counterfactual dependence to explore boundary interactions in resource dependency research. Using set-theoretic operations—union, intersection, and complement—we examine how boundaries evolve when interdependence precedes and shapes non-equity relationships. We propose that when interdependence changes non-equity relations, counterfactual dependence adjusts boundary interactions at union (dichotomy) and intersection (clopen) operations. Additionally, counterfactual dependence facilitates consensus through transitive causation while maintaining dissensus, influencing boundary interactions at union. In cases of persistent dissensus caused by intransitive causation, counterfactual dependence elucidates the complement at union. This research highlights the importance of causal (counterfactual) resource dependence and set theory in advancing the understanding of boundary interactions in international business research.
2025-04-29
Sumathy Permal, Ravichandran Moorthy
Maritime security governance of a strategic ‘strait’ is unique. It is a complex exercise for coastal states, in particular, to have control over adjacent offshore resources, navigational rights, and maintaining access to commercial and military vessels passing through the waterway. Central to this is sustaining a balanced governance approach to security that would impinge on navigational freedom and coastal states’ rights and duties. However, maritime security governance is not only the actions of a sovereign state or a group of sovereign countries but also non-sovereign entities and institutions. It includes the formulation and implementation of solutions to collective issues. Several factors, such as historical patterns of regulation and control of the policy sector and institutional interests, eventually influence states in either promoting or resisting the formation of governance mechanisms. While maritime security governance exists in many international straits, the focus of this article is on the Straits of Malacca (Strait of Malacca and Strait of Singapore), hereafter referred to as SOM, a strategic maritime passage that involves multiple interests involving governance, military, and commercial aspects. Maritime security governance is at the core of the SOM’s management. Indonesia, Malaysia, and Singapore’s approaches towards maritime security are strongly influenced by their sovereign, economic, and legal interests. This article is divided into three sections. First, it defines the concept of governance and examines why maritime security governance has garnered attention in contemporary international relations. Second, it identifies maritime security governance approaches among the littoral states in the SOM. Third, it explains why the littoral states adopt diverging approaches to security governance and the conditions shaping their attitudes.
2024-08-20
Nattavud Pimpa
Multinational corporations (MNCs) are increasingly involved in the United Nations Sustainable Development Goals (SDGs) initiative to enhance the quality of life in host countries. Gender equality (SDG 5) is the key focus. This study examines how MNCs in the male-dominated mining industry in Thailand and Laos promote gender equality through their policies and practices. Using a qualitative approach, we investigated the experiences of stakeholders in the mining sector. Our findings reveal significant gender disparities in employment, health, and vocational opportunities. While MNCs are making efforts to address these issues, the complex interplay of stakeholders and cultural factors influences progress. To effectively advance gender equality, this research suggests a shift in focus towards strategies that actively engage women in diverse business roles. Providing women with the necessary skills and knowledge is essential for their growth and empowerment within the mining industry.
2024-08-20
Norizan Kadir
Territorial disputes frequently emerge in the wake of new nationstates asserting their sovereignty and expanding their influence. These claims often hinge on the nebulous grounds of historical entitlement and legal precedent. Sixteen years post-independence from the United States, the Philippines formally staked a claim to Sabah in 1962, a move initiated under President Diosdado Macapagal and escalated by the more assertive policies of President Ferdinand Marcos. The main objective of this article is to explore the degree to which socioeconomic cooperation has played a role in rejuvenating and bolstering the Philippines’ foreign relations with Malaysia amidst the Sabah dispute. This historical analysis utilises qualitative methodologies to scrutinise primary and secondary sources, encompassing official records and documents pertinent to the dispute over the Philippines’ claim to Sabah. Despite the long-standing and potentially destabilising territorial dispute over Sabah, the Philippines and Malaysia transitioned from confrontation to collaboration, leading to robust socio-economic ties and increased regional stability within ASEAN. The problem lies in understanding how this diplomatic shift occurred, the strategies employed by the administrations of Presidents Aquino and Ramos in redirecting the focus from territorial claims to mutual economic growth, and the implications of this shift for both the bilateral relationship and the broader ASEAN dynamics. The findings indicate that, in contrast to the approaches of Presidents Diosdado Macapagal and Ferdinand Marcos, Presidents Corazon Aquino and Fidel V. Ramos skilfully shifted the focus from the Sabah issue to fostering robust socio-economic collaboration. This pivot served as a critical turning point, establishing the foundation for a comprehensive, multi-layered cooperation that is free from the constraints of the Sabah dispute.
2024-08-20
Dr. Mohammad Fajar Ikhsan, Shazwanis Shukri, Siti Darwinda Mohamed Pero, Muhammad Arifin Nasution, Muhammad Ali Ridha Norman
The COVID-19 pandemic has intensified global social inequalities and disrupted socio-economic stability, as recognized by the World Health Organization (WHO). This study uses Marxist and critical theoretical frameworks to analyze how the pandemic has exacerbated class struggles and socio-economic disparities, focusing on the working and lower-middle classes in Southeast Asia. Through case studies of Indonesia and Malaysia, the research evaluates national policy responses designed to protect these groups. Employing a descriptive and qualitative methodology, including analysis of official data and media discourse, the study highlights how the pandemic has amplified existing contradictions within capitalist systems, leading to increased job losses and widening labor market inequalities. Despite the introduction of economic stimulus packages, these measures often fail to address the underlying systemic issues of capitalism that perpetuate class exploitation and inequality. The paper critiques the capitalist framework for exacerbating the challenges faced by the working class during the pandemic, arguing that these policies offer only temporary relief without tackling the root causes of socioeconomic disparities. This analysis underscores the need for a more transformative approach to understanding and addressing capitalist dynamics in Southeast Asia.