The 9th International Conference on Business, Accounting, Finance and Economics (BAFE) 2021 was held on 13 October 2021 via Zoom and Microsoft Teams.

Organised by the Faculty of Business and Finance (FBF), Centre for Accounting, Banking and Finance, Centre for Business and Management, and Centre for Economic Studies, the BAFE 2021 was held for the ninth consecutive year. 

Themed ‘Fostering Economic Recovery: Balancing Between Lives and Livelihoods’, the conference received over 80 papers from local and international participants from Indonesia, China, India, Australia, Brazil, Taiwan, Philippines, Nigeria and Lithuania. It aimed to provide a platform for scholars and researchers from different institutions, sectors and regions to exchange ideas and information on critical research issues. The conference also aimed to bring the researchers together for the presentation of up-to-date work that contributed to new theoretical, methodological and empirical knowledge, as well as promoting research development, linkages and knowledge mobilisation among disciplines.

Held virtually for the second time since last year, the conference was also co-organised by Manuel S. Enverga University Foundation, Philippines; Universitas Sebelas Maret, Indonesia; Yichun University, China; Western Sydney University, Australia and Centre for Learning and Teaching, UTAR.

Officiating the opening ceremony were UTAR Vice President for Student Development and Alumni Relations Prof Dr Choong Chee Keong representing UTAR President Ir Prof Dr Ewe Hong Tat. The opening ceremony was also attended by Keynote Speakers Prof Dr Chou Ying-Chyi, the director of Center of Healing Environment Administration and Research Tunghai University, Taiwan and Prof Dr Tang Heiwai from the Faculty of Business and Economics of The University of Hong Kong. They were accompanied by FBF Dean Assoc Prof Dr Au Yong Hui Nee and BAFE 2021 Organising Chairperson Dr Choong Yuen Onn.

Thanking the organising committee for the invitation and congratulating them for successfully organising the conference in a consistent manner, Prof Choong mentioned, “Nine years ago when FBF had its inaugural BAFE conference, its initial objective was just to cultivate research interests among the faculty’s young academics, to which it was warmly received by the faculty’s academics who also submitted their papers. Over the years, the submission of papers grew more and there were even papers from academics overseas, further indicating the success of the conference under the Dean’s leadership.”

The Vice President also stated that the conference’s theme this year – ‘Fostering Economic Recovery: Balancing Between Lives and Livelihoods’ is indeed very relevant during this time of the pandemic where economic activities are starting again and many businesses have to pick up losses and struggle to keep afloat in the hope of succeeding under new norms. He added, “The economic fallout, during the pandemic, disrupted the lives and livelihoods of people around the world. Now in 2021, the economists are showing more optimism towards economic recovery. Data also shows that economic activities in some countries are approaching pre-pandemic levels. As we discuss and share research outcomes, ideas, and knowledge, we can look into some of the key aspects that can contribute to our national and global economic recovery, such as fiscal and monetary support initiatives; job creations for the youth and vulnerable groups; implementation of minimum salary levels; integration of skills required in the economy into curricula across all subjects; strengthening of public-private partnerships for new market creations; and business activism to promote equity and social justice. I believe this conference will stimulate profound discussions to bring forward ideas for progress and improvements that will advance research in the various areas of business, accounting, finance and economics.”

Highlighting the significance of the BAFE conference in times of global uncertainties, Dr Au Yong mentioned “The world economy is experiencing more challenging times with market uncertainties, especially in the Covid-19 pandemic. On the environment front, the environmental problem that is faced by humankind is climate change. Technology wise, the fourth industrial revolution is changing the business landscape and operations. The digital financial services industry is undergoing explosive development. The rise of finance technology (FinTech) and Central Bank Digital Currency is redefining financial services. These processes are clearly interrelated, for globalisation would make little sense if it did not involve consideration of global digital interchanges and environmental problems. These illustrate just three of the many significant challenges to society in defining the things which should be studied. In the conference, I hope the presenters and participants will learn how to manage uncertainties through sustainable development mindset.”

She added, “I was told that the conference received about one-third of submissions across regions from ASEAN, East Asian, South Asian, Oceania and European countries, which were reviewed and selected for presentation and publication. The conference is a great platform to share ideas, views, findings and research outcomes and to assimilate the business, accounting, finance and economics studies. I hope you will find the conference to be useful and that the conference can provide an excellent platform for academic deliberation. Our field is enriched by the dialogue among scholars from around the world. I hope this will be a memorable, valuable, and enjoyable experience.” She also thanked the organising committee for their great dedication in making the conference a reality.

The conference kick-started with two educative keynote addresses by Prof Tang and Prof Chou.  In his keynote address titled “Is Globalization in Crisis?”, Prof Tang shared the insights from the two waves of globalisation and deglobalisation that have taken place since the mid-19th century. His speech shed light on the impact of the escalating U.S.-China tension and Covid-19 on globalisation. It addressed both the short-run and long-run prospects of globalisation, drawing on historical accounts and recent academic research.

On the other hand, Prof Chou delivered a significant keynote address titled “What makes for a good elder care center from the view of healing environments? Cases in USA, Japan and France”. He shared his expertise in healing environments, a healthcare system that is designed to stimulate and support the inherent healing capacity of patients, families and their care providers.
 
The conference covered various topics, including Financial Performance and Sustainability; Moving towards Digital Economy; Organisational Behaviour; Digital Technologies; Effective Governance and Taxation; Economic Sustainability; Tourism and the Environment; Organisational Strategy, Education Management.

Recognising research excellence among the presenters, seven best papers were also handpicked to receive the Best Paper Awards. The list of winners is as follows: