Are the Undergraduate Students Ready for K-economy?
Abstract
In this era, the knowledge-based economy (k-economy) is becoming increasingly popular and widely discussed in various circles because it is an economic concept in which knowledge and information are the main factors in generating economic value and creating progress. Students’ k-economy readiness is expected to help students prepare well, one of which is with the accounting education they get. This study uses a quantitative approach that examines the effect of accounting education, students have on k-economy readiness. This study uses an online questionnaire distributed to 150 undergraduate students in East Java, Indonesia. The results of this study showed a positive influence of students’ accounting education on their k-economy readiness. This study can be used as a basis for developing a learning plan or curriculum for high schools and universities, so that the younger generation can prepare well and participate in the K-economy.
Keywords: accounting education, k-economy, economics education, undergraduate students, quantitative
References
[1] Afzal M, Lawrey R. A measurement framework for knowledge-based economy (KBE) efficiency in ASEAN: a data envelopment (DEA) window approach. Int J Bus Manage. 2012;7(18): https://doi.org/10.5539/ijbm.v7n18p57.
[2] Ahmadi M, Taghizadeh R. A gene expression programming model for economy growth using knowledge-based economy indicators: A comparison of GEP model and ARDL bounds testing approach. J Model Manag. 2019;14(1):31–48.
[3] Ahmed A, Al-Roubaie A. Building a knowledge-based economy in the Muslim world. World Journal of Science. Technology and Sustainable Development. 2012;9(2):76– 98.
[4] Ahmed EM. Are bio-economy dimensions a new stream of the knowledge economy? World Journal of Science. Technology and Sustainable Development. 2018;15(2):142–55.
[5] Al-Busaidi KA. Fostering the development of Oman’s knowledge economy pillars through ICT. VINE J Inf Knowl Manag Syst. 2020;50(4):691–714.
[6] Al-Hazaima H, Low M, Sharma U. Perceptions of salient stakeholders on the integration of sustainability education into the accounting curriculum: a Jordanian study. Meditari Accountancy Research. 2020;29(2):371–402.
[7] Al Mallak MA, Tan LM, Laswad F. Generic skills in accounting education in Saudi Arabia: Students’ perceptions. Asian Rev Account. 2020;28(3):395–421.
[8] Alshurafat H, Al Shbail MO, Masadeh WM, Dahmash F, Al-Msiedeen JM. Factors affecting online accounting education during the COVID-19 pandemic: an integrated perspective of social capital theory, the theory of reasoned action and the technology acceptance model. Educ Inf Technol. 2021;26(6):6995–7013.
[9] Amirat A, Zaidi M. Estimating GDP Growth in Saudi Arabia Under the Government’s Vision 2030: A knowledge-based economy approach. J Knowl Econ. 2020;11(3):1145–70.
[10] Andrés AR, Otero A, Amavilah VH. (2021). Using deep learning neural networks to predict the knowledge economy index for developing and emerging economies. Expert Systems with Applications. 2021:184( June):0–3. https://doi.org/10.1016/j.eswa.2021.115514
[11] Bano S, Taylor J. Universities and the knowledge-based economy: Perceptions from a developing country. High Educ Res Dev. 2015;34(2):242–55.
[12] Behn BK, Ezzell WF, Murphy LA, Rayburn JD, Stith MT, Strawser JR. The pathways commission on accounting higher education: Charting a national strategy for the next generation of accountants. Issues Account Educ. 2012;27(3):595–600.
[13] Boyce G. Critical accounting education: Teaching and learning outside the circle. Crit Perspect Account. 2004;15(4-5):565–86.
[14] Choong KK, Leung PW. A Critical Review of the Precursors of the Knowledge Economy and Their Contemporary Research: Implications for the Computerized New Economy. Journal of the Knowledge Economy. Springer US; 2021. https://doi.org/10.1007/s13132-021-00734-9.
[15] Cvetanovic S, Ilic V, Despotovic D, Nedic V. Knowledge economy readiness, innovativeness, and competitiveness of the Western Balkan countries. Industrija. 2015;43(3):27–53.
[16] Daff L. Employers’ perspectives of accounting graduates and their world of work: Software use and ICT competencies. Account Educ. 2021;30(5):495–524.
[17] Denkyirah EK. Education and economic growth: A co-integration approach Derick Taylor Adu and. 2017;8(5):228–249.
[18] Ebaid IE. An exploration of accounting students’ attitudes toward integrating forensic accounting in accounting education. International Journal of Law and Management. 2022;64(4):337–57.
[19] European Commission. Innovation management and the knowledge-driven economy. In European Commission Directorate-general for Enterprise (Vol. 4, Issue 1), 2004.
[20] Hadiwattege C, Senaratne S, Sandanayake Y, Fernando NG. Academic research in emerging knowledge-based economies: The case of Sri Lankan construction industry. Built Env Proj Asset Manag. 2018;8(4):415–28.
[21] Ben Hassen T. The state of the knowledge-based economy in the Arab world: cases of Qatar and Lebanon. EuroMed J Bus. 2020;16(2):129–53.
[22] Hsu AW, Jung B, Pourjalali H. Does international accounting standard No. 27 improve investment efficiency? J Account Audit Financ. 2015;30(4):484–508.
[23] Irsyadillah I, Bayou MS. An institutional perspective on the selection and use of accounting textbooks: The case of universities in Indonesia. Meditari Accountancy Research. 2022;30(2):424–49.
[24] Jabbari J, Roll S, Bufe S, Chun Y. (2022). Cut me some slack! An exploration of slack resources and technology-mediated human capital investments in entrepreneurship. International Journal of Entrepreneurial Behaviour and Research. 2022;28(5). https://doi.org/10.1108/IJEBR-10-2020-0731.
[25] Koolivand A, Salehi M, Arabzadeh M, Ghodrati H. The relationship between knowledge-based economy and fraudulent financial reporting. J Facil Manage. 2023;21(1):16–29.
[26] Krejcie RV, Morgan DW. Determining sample size for research activities. Educ Psychol Meas. 1970;30(3):607–10.
[27] Kurantin N, Osei-Hwedie BZ. Knowledge-based economy: Enhancing economic growth and development of human capital through information and communications technology education. Comparative Advantage in the Knowledge Economy. 2021;1– 10. https://doi.org/10.1108/978-1-80071-040-520210001.
[28] Lee T, van der Heijden J. Does the knowledge economy advance the green economy? An evaluation of green jobs in the 100 largest metropolitan regions in the United States. Energy Environ. 2019;30(1):141–55.
[29] Lubbe I. Towards a global model of accounting education – a South African case study. Journal of Accounting in Emerging Economies. 2020;10(4):601–20.
[30] Martínez-Martínez A, Cegarra-Navarro JG, Cobo-Martín MJ, de Valon T. Impacts and implications for advancing in environmental knowledge in hospitality industry in COVID Society: A bibliometric analysis. J Knowl Econ. 2022;0123456789: https://doi.org/10.1007/s13132-022-00910-5.
[31] Moos M, Revington N, Wilkin T, Andrey J. The knowledge economy city: Gentrification, studentification and youthification, and their connections to universities. Urban Stud. 2019;56(6):1075–92.
[32] Muthmainnah M, Al Yakin A, Massyat M, Lulaj E, Bayram GE. Developing students’ life skills through edupreneurship in the digital era. In S Grima, E Özen, H Boz (Eds.), The new digital era: Digitalisation, emerging risks and opportunities (Vol. 109A, pp. 169–190). Emerald Publishing Limited, 2022. https://doi.org/10.1108/S1569- 37592022000109A011.
[33] Phan D, Yapa P, Nguyen HT. Accounting graduate readiness for work: A case study of South East Asia. Educ Train. 2020;63(3):392–416.
[34] Ponce P, Polasko K, Molina A. Open innovation laboratory in electrical energy education based on the knowledge economy. Int J Electr Eng Educ. 2021;58(3):667– 700.
[35] Rottleb T, Kleibert JM. Circulation and containment in the knowledge-based economy: Transnational education zones in Dubai and Qatar. Environ Plann A. 2022;54(5):930–48.
[36] Russo A, Warren L, Neri L, Herdan A. Enhancing accounting and finance students’ awareness of transferable skills in an integrated blended learning environment. Account Educ. 2021;0(0):1–25.
[37] Salman M, Mustafa ZU, Asif N, Zaidi HA, Hussain K, Shehzadi N, et al. Knowledge, attitude and preventive practices related to COVID-19: A cross-sectional study in two Pakistani university populations. Drugs Ther Perspect. 2020;36(7):319–25.
[38] Sangster A, Stoner G, Flood B. Insights into accounting education in a COVID-19 world. Account Educ. 2020;29(5):431–562.
[39] Shah ST, Shah SM, El-Gohary H. Nurturing innovative work behaviour through workplace learning among knowledge workers of small and medium businesses. J Knowl Econ. 2022;0123456789: https://doi.org/10.1007/s13132-022-01019-5.
[40] Sharma U, Stewart B. Enhancing sustainability education in the accounting curriculum: An effective learning strategy. Pac Account Rev. 2022;34(4):614–33.
[41] Siddiqui SA, Afzal MNI. Sectoral diversification of UAE toward a knowledge-based economy. Review of Economics and Political Science, ahead-of-p(ahead-of-print). 2022. https://doi.org/10.1108/REPS-07-2021-0075.
[42] Sugiyono. Metode Penelitian Kuantitatif, Kualitatif dan R&D. Alfabeta, 2019.
[43] Švarc J, Dabić M. Evolution of the knowledge economy: A historical perspective with an application to the case of Europe. J Knowl Econ. 2017;8(1):159–76.
[44] Toimbek D. Problems and perspectives of transition to the knowledge-based economy in Kazakhstan. In Journal of the Knowledge Economy (Issue 0123456789). Springer US, 2021. https://doi.org/10.1007/s13132-021-00742-9.
[45] Wirba AV. Transforming Cameroon into knowledge-based economy (KBE): The role of education, especially higher education. In Journal of the Knowledge Economy (Vol. 13, Issue 2). Springer US, 2021. https://doi.org/10.1007/s13132-021-00776-z.
[46] World Bank. (2021). Indonesia Data. https://data.worldbank.org/country/ID
[47] Xie Z, Chiu DK, Ho KK. The role of social media as aids for accounting education and knowledge sharing: Learning Effectiveness and Knowledge Management Perspectives in Mainland China. J Knowl Econ. 2023;0123456789: https://doi.org/10.1007/s13132-023-01262-4.
[48] Zapp M. Revisiting the Global Knowledge Economy: The Worldwide Expansion of Research and Development Personnel, 1980-2015. Minerva. 2022;60(2):181–208.
[49] Zhu AY, Chou KL. Hong Kong’s Transition Toward a Knowledge Economy: Analyzing Effect of Overeducation on Wages Between 1991 and 2011. J Knowl Econ. 2020;11(1):103–13.
[50] Ziafati Bafarasat A, Oliveira E. Prospects of a transition to the knowledge economy in Saudi Arabia and Qatar: A critical reflection through the lens of spatial embeddedness and evolutionary governance theory. Futures. 2021;129(March):102731.