Although human capital disclosures (HCDs) have been increasingly embedded within international sustainability reporting frameworks, such as the Global Reporting Initiative (GRI) and environmental, social and governance (ESG) standards, the extent to which these disclosures influence corporate market valuation (MV) remains inconclusive. Previous scholarship has underscored the value relevance of employee-related information in fostering investor confidence and reinforcing stakeholder trust. However, empirical observations continue to indicate that human capital (HC) information is frequently fragmented, inconsistently structured, and insufficiently detailed, thereby limiting its interpretive utility in financial markets. In this study, the influence of disclosed HC metrics within sustainability reports on MV was empirically investigated through a deductive, content analysis-based methodology. Employee-related indicators aligned with GRI standards were systematically categorised into a human capital disclosure index (HCDI), encompassing six dimensions: human capital availability (HCA), human capital wellbeing (HCW), human capital investment (HCI), human capital engagement (HCE), human capital risk (HCR), and human capital value (HCV). Internal consistency of the constructed index was validated using Cronbach’s alpha, with values exceeding the 0.60 threshold across all dimensions. An ex-post facto research design was applied to the top 100 listed entities on the Johannesburg Stock Exchange (JSE) to examine the relationship between the HCDI and MV. The results revealed no statistically significant association between the extent of HC disclosures in sustainability reporting and corporate market valuation. This outcome corroborates existing evidence that information asymmetry and the opaque integration of HC metrics into broader sustainability narratives may attenuate their perceived relevance by investors. Consequently, it is suggested that enhanced standardisation, disaggregation, and contextualisation of HC data are essential to improve its decision-usefulness in capital markets. The findings contribute to ongoing debates concerning the materiality of non-financial disclosures and underscore the imperative for clearer regulatory guidance and reporting uniformity regarding human capital within sustainability frameworks.

The Bandar tradition observed in Negeri Rutah represents a culturally embedded mechanism of informal economic exchange, whereby financial contributions are voluntarily extended by community members to support families with sons entering marriage. This study has revealed that such a system operates not only as a means of reducing the financial burden associated with wedding ceremonies but also as an instrument for reinforcing communal bonds, intergenerational solidarity, and the continuity of intangible cultural heritage. Despite the absence of formal financial records or institutional oversight, contributions are managed through a trust-based system underpinned by mutual reciprocity and collective memory. The persistence of the Bandar tradition in contemporary society has been examined through the lens of social accounting, with a particular focus on its potential alignment with modern principles of accountability, transparency, and cultural resilience. Through qualitative field research, it has been demonstrated that the practice continues to function effectively within the community, sustained by deep-rooted social norms and communal expectations. However, challenges such as urban migration, generational shifts in value systems, and external economic pressures have been identified as potential threats to its long-term sustainability. The integration of culturally sensitive social accounting frameworks has therefore been proposed as a viable strategy for safeguarding this tradition against socio-economic disruption while preserving its core values. The study contributes to a broader discourse on the intersection of indigenous cultural practices, informal economies, and contemporary accountability systems, offering a model through which traditional mechanisms can be adapted without compromising their cultural integrity.

A comprehensive reassessment of the financial trilemma’s applicability to the governance of banking systems in peripheral economies has been conducted through a mixed methods investigation focused on Zimbabwe between 2010 and 2024. Despite the trilemma’s prominence in international financial theory—emphasising the trade-off among financial integration, monetary policy autonomy, and financial stability—its limitations in structurally fragile, postcolonial contexts have remained underexplored. This gap has been addressed by integrating descriptive statistical analysis of 45 archival policy documents with narrative insights derived from 130 semi-structured interviews conducted with risk managers in commercial banking institutions. Analytical triangulation was achieved through the application of Marxist immanent critique, revealing the embedded ideological assumptions underpinning traditional trilemma theory. Findings indicate that when deployed in politically unstable and externally dependent contexts, the trilemma model inadvertently reinforces global financial dependency, entrenched class domination, and extractive policy frameworks. These dynamics have been shown to undermine domestic policy sovereignty and institutional resilience, thereby constraining effective financial governance. Moreover, technocratic framings of the trilemma have been found to obscure its alignment with neoliberal orthodoxies, including financialisation, commodification, elite resource capture, and the enclosure of domestic financial spaces. These processes have facilitated the appropriation of national resources under the guise of liberalisation, revealing the inadequacy of applying conventional trilemma logic in structurally asymmetrical settings. It is therefore proposed that financial governance in such contexts be reconceptualised through heterodox approaches grounded in regional solidarity, decolonisation of international finance, participatory governance mechanisms, and the strategic use of capital controls. The study contributes to the re-theorisation of financial governance in developing economies by challenging the ideological neutrality of mainstream economic models and proposing context-sensitive alternatives better suited to postcolonial realities.

Deposit-Taking Savings and Credit Cooperative Societies (DT-SACCOs) constitute a pivotal segment of Kenya’s financial system by fostering domestic savings, facilitating affordable credit access, and advancing financial inclusion, particularly among underserved populations. Despite this critical role, concerns have intensified over the sector’s financial resilience due to escalating levels of loan portfolio risk, persistent regulatory non-compliance, and eroding capital adequacy ratios (CAR). These vulnerabilities have been exacerbated by the absence of a lender of last resort, thereby exposing member deposits to elevated systemic risk and constraining the flow of credit to key productive sectors—including micro, small, and medium enterprises (MSMEs), agriculture, and affordable housing. Such constraints are increasingly viewed as impediments to the Bottom-Up Economic Transformation Agenda and to Kenya’s broader commitments under the Sustainable Development Goals, particularly those concerning poverty eradication, decent employment, and industrial development. To investigate the interplay between loan portfolio risk and capital adequacy, a positivist research philosophy and a descriptive cross-sectional design were employed. The target population comprised all 174 licensed DT-SACCOs in Kenya. A simple random sampling technique was used, and a 96.5% response rate was achieved. Data were extracted from audited financial statements through a structured collection instrument and analysed using linear regression techniques. Empirical results indicated a statistically significant positive association between loan portfolio risk and capital adequacy (β = 0.0569, p = 0.012), suggesting that increased risk exposure may prompt DT-SACCOs to strengthen capital buffers, either through regulatory compulsion or institutional prudence. It is recommended that DT-SACCOs adopt advanced credit risk mitigation strategies, including AI-enabled credit scoring systems, predictive early warning indicators, and operational automation via chatbots to enhance real-time monitoring and reduce manual error. Emphasis is also placed on the adoption of forward-looking metrics such as expected credit losses (ECL) and scenario-based stress testing under the IFRS 9 framework. Regulatory bodies are urged to enhance supervisory guidance and support financial literacy initiatives among members. Furthermore, capacity building, the promotion of digital loan syndication models, and collaborative risk-sharing frameworks are proposed to fortify capital adequacy, enhance institutional resilience, and ensure long-term sectoral stability.