Law and Economy

Financial Literacy Moderation of Fintech and Small and Medium Sized Enterprises Financial Performance in Cameroon’s Mfoundi Division

Ayuk Takemeyang, Henry Jong Ketuma, Tambi Andison Akpor — Mon, 15 Dec 2025 00:00:00 +0000

This study investigates the moderating effect of financial literacy on the relationship between fintech adoption and financial performance of Small and Medium-Sized Enterprises (SMEs) in Cameroon’s Mfoundi Division. Using a quantitative research approach, data was collected from 300 respondents through a questionnaire, selected via purposive sampling. The analysis revealed a positive moderation effect of financial literacy on the relationship between fintech adoption and SME financial performance, with a coefficient of 0.122, t-statistic of 2.075, and p-value of 0.038. The findings suggest that SMEs with higher financial literacy levels can leverage fintech adoption to improve their financial performance. These results align with the Theory of Planned Behavior and the Theory of Financial Innovation. The higher the financial literacy of SME owners, the more effectively they utilize fintech to enhance financial performance. The study’s insights have implications for SMEs, policymakers, and fintech providers, highlighting the importance of financial literacy in enhancing the benefits of fintech adoption. The results contribute to the growing body of literature on fintech and SME performance, with a focus on the critical role of financial literacy in moderating this relationship.

International Risk Early-Warning System Construction and Application for International Pharmaceutical and Chemical Trade: An Empirical Analysis Based on Multi-Source Data Fusion and LSTM-PSO Algorithm

Die Wang — Fri, 26 Dec 2025 00:00:00 +0000

International pharmaceutical and chemical cross-border trade is characterized by high compliance requirements, significant market volatility, and long supply chain links. Small and medium-sized foreign trade enterprises (SMEs) generally face the pain points of unpredictable compliance risks, lagging market responses, and insufficient supply chain early warnings. To address these issues, this study focuses on four core risks: compliance, market, supply chain, and credit. A four-dimensional risk assessment framework comprising 23 indicators is constructed. By integrating multi-source data from policies, markets, and enterprises, and optimizing the key parameters of the Long Short-Term Memory (LSTM) network using the Particle Swarm Optimization (PSO) algorithm, an intelligent risk early-warning system based on the LSTM-PSO algorithm is established. An empirical analysis is conducted using the cross-border trade data of Wuhan Kuda Hui Trading Co., Ltd. from 2019 to 2024. The results show that the model achieves a high-risk event early warning accuracy rate of 92.3%, and the lead time for logistics delay risk early warning is extended to 168 hours. After the system is implemented, the incidence of high-risk events in the enterprise decreases from 15.6% to 4.8% (Benamor, W. D., 2022), and in 2024, a loss of 2.16 million yuan is avoided. Moreover, the relevant solutions have been promoted to 12 enterprises in the industry, with an average reduction in risk losses of 37.2%. The study confirms that the LSTM-PSO risk early-warning system can effectively enhance the risk prevention and control capabilities of SMEs in the pharmaceutical and chemical foreign trade sector and has significant practical application and industry promotion value.

Closing the Protection Gap: A Critical Appraisal of the Legal Framework Governing Humanitarian Relief Personnel in Non-International Armed Conflicts

Dr. Kwebe Augustine Nkwiyir, Elvis Bantar Kubi — Fri, 26 Dec 2025 00:00:00 +0000

Humanitarian relief personnel operating in non-international armed conﬂicts face heightened risks due to the fragmented and limited scope of existing legal protections. This study critically examines the adequacy of the international legal framework governing the protection of these personnel, with a focus on identifying gaps and assessing the effectiveness of applicable norms. Anchored in legal positivist theory and supplemented by the protection gap framework, the study adopts a doctrinal legal research methodology, analyzing treaties, customary international humanitarian law, and domestic legislation. The findings reveal that protection for humanitarian relief personnel is largely indirect and fragmented, arising from the limited applicability of treaty law, inconsistencies in customary law, and weak domestic enforcement mechanisms. These gaps expose humanitarian personnel to significant risks and perpetuate impunity for violations committed against them. The study concludes that closing the protection gap requires clearer normative standards, stronger domestic incorporation of international obligations, and more effective accountability mechanisms. By applying a theory-driven lens, this research not only evaluates the current legal framework but also contributes to scholarly and policy debates on enhancing the protection of humanitarian actors in contemporary armed conﬂicts.

The Plight and Improvement of Duty Counsel in the Plea Leniency System

Jingya Tang — Wed, 14 Jan 2026 00:00:00 +0000

The effective participation of duty counsel in the Plea Leniency System is crucial for safeguarding the legitimate rights of the accused and upholding judicial fairness. Since the revision of the Criminal Procedure Law in 2018, this mechanism has become an integral part of plea bargaining proceedings. However, multiple practical challenges persist. This paper argues that the core issue lies in the ambiguous role of duty counsel, who are not explicitly granted the status of defense counsel, resulting in a weak foundation for their procedural rights. Furthermore, inadequate protection of the right to access case files and the right to meet with clients in practice often reduces legal assistance to a mere formality. Additionally, a rigid subsidy mechanism fails to incentivize lawyers to deliver high-quality services. To address these shortcomings, this paper advocates for clarifying the defense counsel status of duty lawyers, systematically establishing pathways to secure their core rights, and implementing a flexible incentive system linked to workload and service quality. Such measures would enhance the effectiveness of their participation, strengthen institutional credibility, and ensure the system functions as intended.

The Role of Pre-Selected Options in Shaping Online Purchase Decisions

Nguyễn Đ. Khoa — Tue, 27 Jan 2026 00:00:00 +0000

Online shopping environments often confront consumers with complex choice structures and high cognitive demands. Within such contexts, pre-selected options have become a pervasive yet under-theorized element of digital choice architecture. This paper develops a non-empirical, conceptual analysis to examine how pre-selected options influence online purchase decisions by shaping consumer decision processes rather than directly altering consumer preferences. Drawing on insights from behavioral economics and marketing theory, the paper conceptualizes pre-selected options as a form of structural marketing intervention embedded in interface design. It argues that pre-selected options affect online purchasing through three interconnected mechanisms: decision simplification that reduces cognitive effort, perceived endorsement and choice framing that redefine default choices as normative, and behavioral inertia that facilitates commitment formation and purchase follow-through. The analysis further identifies key contextual moderators, including product type, purchase involvement, consumer experience, interface transparency, and competitive environment, which condition the effectiveness of pre-selected options. By reframing default design as an active marketing strategy rather than a neutral interface feature, this paper contributes to a deeper theoretical understanding of choice architecture in digital marketing and highlights the strategic and ethical implications of pre-selected options in online consumer decision-making.