I am currently working as a postdoctoral researcher at Tenaga Nasional University (UNITEN), Malaysia.
RESEARCH, TEACHING, or OTHER INTERESTS
Economics, Econometrics and Finance, Renewable Energy, Sustainability and the Environment, General Economics, Econometrics and Finance, Economics and Econometrics
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Scopus Publications
Scopus Publications
Purchasing from women technopreneurs: effects on women consumers’ empowerment and entrepreneurial motivation in Pakistan Sanya Mithani, S. N. Nazrin, Noraini Ahmad, Malayaranjan Sahoo, Rohana Sham, Syazwani Yahaya, Najiya Al-Hajri, Farideh Akrami, Adnan Ameen Bakather, Asif Raihan Discover Sustainability, 2026 Technopreneurs are entrepreneurs who leverage technology to advance their ventures. In Pakistan, technopreneurship is becoming increasingly significant due to mounting socioeconomic challenges and high unemployment rates. However, studies focusing specifically on female technopreneurs are limited, despite the opportunities technology creates for both female entrepreneurs and consumers. Literature indicates that purchasing from women provides female consumers with a sense of representation, support, and empowerment, while exposure to successful female entrepreneurs motivates others to pursue entrepreneurial endeavors. Therefore, this study investigates the relationship between purchasing from women technopreneurs on a newly launched local e-commerce platform and the entrepreneurial motivation and empowerment of female consumers in Pakistan. A quantitative approach was employed, with online questionnaires distributed to 150 female respondents during the platform’s initial quarter. Data were analyzed using SmartPLS 4.0, revealing a weak positive relationship between purchasing from women technopreneurs and entrepreneurial motivation, and a strong positive relationship with empowerment. This gender-inclusive entrepreneurship study contributes to understanding the intersection of empowerment, e-commerce, and gender in Pakistan, while offering practical implications for e-commerce platforms, policymakers, and business owners in developing strategies that support women technopreneur-led businesses through consumer-driven empowerment.
Sustainable Energy Security in Indonesia: An In-Depth Investigation for a Sustainable Future Reji Kumar Rajamony, Malayaranjan Sahoo, B Kalidasan G20 and Energy Security Roadmap for Sustainable Development, 2026 The present utilization of fossil fuels has a substantial influence on the escalation of greenhouse gas (GHG) emissions. Renewable energy is crucial in mitigating greenhouse gas emissions, which in turn helps minimize the effects of extreme weather and climate change. Additionally, it ensures a dependable, prompt, and economically viable energy supply. Due to its large size and abundant natural resources, Indonesia has experienced a growing need for renewable energy, which has been driven by increased consumption. Indonesia has successfully shifted towards renewable energy by implementing energy policies and plans and by progressively increasing the proportion of renewable energy in its overall energy mix. The target is to achieve a renewable energy mix from 11% in 2021 to 23% in 2025 and 31% in 2050. The proportion of the industrial sector has been steadily rising and currently stands at 37%, which represents a significant increase of 6% since 2015. Meanwhile, the services sector accounted for 22% of the overall share in 2022. The electrification rate of households has significantly increased from 86% in 2000 to 99.6% in 2022. The original target of achieving 100% was postponed from 2020 to 2022 and has yet to be accomplished. The primary objective of this chapter is to conduct an in-depth examination of the present condition, energy usage and GHG emission, energy policy and future potential, and data regarding Indonesia’s renewable and sustainable energy resources.
Tourism-energy-economy-environment nexus toward sustainable and green development in Malaysia Asif Raihan, Syed Masiur Rahman, Tapan Sarker, Mohammad Ridwan, Malayaranjan Sahoo, Bablu Kumar Dhar, Md Mustaqim Roshid, Samanta Islam, Grzegorz Zimon, ABM Mainul Bari Innovation and Green Development, 2025 This study investigated the impact of tourism on Malaysia's energy consumption, economic development, and environmental sustainability. The study employed a time series analysis from 1995 to 2020 using Autoregressive Distributed Lag (ARDL) to assess both short- and long-term dynamics. The estimation suggests that a 1 % increase in tourist arrivals, tourism expenditures, and tourism receipts would result in energy consumption increasing by 0.46 %, 0.47 %, and 0.64 % in the long term, and by 0.30 %, 0.31 %, and 0.51 % in the short term, respectively. Additionally, a 1 % rise in tourist arrivals, tourism expenditures, and tourism receipts would lead to a long-term increase in economic growth of 0.45 %, 0.47 %, and 0.54 %, respectively. In the short term, these increases would be 0.26 %, 0.32 %, and 0.40 %. Furthermore, a 1 % rise in tourist arrivals and tourism expenditures would result in a long-term increase of 0.32 % and 0.26 % in carbon emissions, and a short-term increase of 0.39 % and 0.29 %, respectively. The findings suggest that a 1 % rise in tourism receipts would lead to a reduction of 0.10 % in carbon emissions in the long term and 0.03 % in the short term. The results were validated using alternative cointegration regression methods. The study provides policy recommendations for sustainable tourism.
Dynamic influences of different energy sources, energy efficiency, technological innovation, population, and economic growth toward achieving net zero emissions in the United Kingdom Asif Raihan, Syed Masiur Rahman, Mohammad Ridwan, Tapan Sarker, Ousama Ben-Salha, Md Masudur Rahman, Grzegorz Zimon, Malayaranjan Sahoo, Bablu Kumar Dhar, Md Mustaqim Roshid, Alaeldeen Ibrahim Elhaj, Syed Azher Hussain, A.B.M Mainul Bari, Samanta Islam, Sirajum Munira Innovation and Green Development, 2025 This article analyzed the effect of various energy sources, energy efficiency, technological innovation, population size, and GDP on greenhouse gas (GHG) emissions in the United Kingdom. The annual data spanning from 1990 to 2021 is examined utilizing the Autoregressive Distributed Lag (ARDL) model. Results reveal that a 1 % rise in GDP, population, and fossil fuel consumption led to a 0.11 %, 0.16 %, and 0.60 % increase in GHG emissions in the short-run while 0.28 %, 0.23 %, and 0.74 % in the long-run. Besides, a 1 % improvement in renewable energy, nuclear power, energy efficiency, and technological innovation cut GHG emissions by 0.25 %, 0.13 %, 0.21 %, and 0.29 % in the short-term and 0.39 %, 0.28 %, 38 %, and 48 % in the long-run. The robustness analysis through the Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS), and Canonical Cointegrating Regression (CCR) demonstrates the consistency of the long-term effects obtained from the ARDL technique. The investigation provides novel insights essential for designing and implementing policies that advance the UK power industry's net-zero goals through cleaner energy, efficiency, and green technology investments.
Green Finance, Innovation, and Environmental Sustainability in India: A Dynamic ARDL Simulation Approach Malayaranjan Sahoo, Seema Saini, Shreyasee Kaushik Sustainable Development, 2025 This study investigates the dynamic relationship between CO 2 emissions and key macro‐environmental variables in India from 1990 to 2022 using the Dynamic ARDL Simulation approach. The model confirms a stable long‐run equilibrium, with an error correction term of −0.337 indicating a 33.7% annual adjustment rate. In the short run, green finance significantly reduces emissions, while GDP growth increases them. Technological innovation, renewable energy, urbanization, and education show no immediate impact. However, long‐run estimates reveal that technological innovation (0.275) and GDP (0.944) raise emissions, while green finance (−0.518), renewable energy (−0.355), urbanization (−0.433), and education (−0.948) significantly reduce emissions. These results underscore the need for India to align technological progress and economic growth with sustainable practices, redirect finance toward low‐carbon pathways, and invest in clean energy and education.
Empowering BRICS economies: The crucial role of green finance, information and communication technology and innovation in sustainable development Malayaranjan Sahoo, Padmaja Bhujabal, Mohini Gupta, Muhummad Khairul Islam Sustainable Development, 2024 This study delves into the crucial role of green finance, information and communication technology (ICT), technological innovation, and renewable energy in the Brazil, Russia, India, and China (BRICS) countries from 2000 to 2021. The findings highlight the importance of green finance in reducing the ecological footprint and promoting eco‐friendly initiatives, sustainable practices, environmental technology innovation, and heightened environmental awareness. This means 1% increase in green related finance has reduced ecological footprint by 0.72% in BRICS economies. Additionally, technological innovation and the consumption of renewable energy play a significant role in enhancing environmental sustainability. Conversely, the study reveals that ICT has a considerable impact on the ecological footprint, but the interaction effect with green finance helps to mitigate its negative effects and improve the environmental quality. Meanwhile, non‐renewable energy, gross domestic product (GDP) per capita, and urbanization have an adverse effect on the environment. To strengthen green finance in BRICS countries, governments can establish comprehensive policy frameworks that prioritize sustainability and create a conducive climate for incentivizing investment in environmentally friendly endeavors.