Insight into how digital forensic accounting and metaverse circular business model innovation contribute to accelerated internationalization: evidence from Vietnam-based SMEs

Figures & data

Table 1. Distribution of participants based on demographic characteristics.

Item	Contents	Frequency	Valid (%)
Gender
	Male	522	66.67
	Female	261	33.33
Age (years)
	Under 30	19	2.43
	30 - Under 40	668	85.31
	40 - Under 50	57	7.28
	Above 50	39	4.98
Education
	Undergraduate	768	98.08
	Postgraduate	15	1.92
Experience (years)
	Under 10	19	2.43
	10 - Under 20	362	46.23
	20 - Under 30	391	49.94
	Over 30	11	1.40
Business type
	Production of food and beverages	686	87.61
	Production of tobacco	15	1.92
	Production of electronic components and communication equipment	22	2.81
	Production of goods made of clothes and accessories	17	2.17
	Production of pulp, paper, and paper products	14	1.79
	Production of luggage and footwear	29	3.70

Table 2. Results summary for the content validity.

	AC	ACIN	ACT	AFP	EXC	FD	GOV	GOVE	IC	TM
AC1	0.832	0.133	0.006	0.074	0.009	0.073	0.052	0.096	0.112	0.050
AC2	0.849	0.184	0.032	0.077	0.056	0.072	0.027	0.079	0.114	0.023
AC3	0.795	0.181	0.018	0.095	0.057	0.074	0.086	0.095	0.072	0.034
AC4	0.832	0.193	0.036	0.093	0.080	0.079	0.053	0.093	0.068	0.088
ACIN1	0.123	0.780	0.223	0.076	0.212	0.038	0.042	0.167	0.067	0.100
ACIN2	0.204	0.788	0.241	0.100	0.186	0.050	0.107	0.235	0.039	0.112
ACIN3	0.178	0.777	0.269	0.164	0.191	0.024	0.072	0.129	0.077	0.120
ACIN4	0.155	0.764	0.242	0.111	0.242	0.025	0.097	0.159	0.007	0.091
ACIN5	0.156	0.785	0.243	0.039	0.204	0.022	0.039	0.147	0.039	0.098
ACIN6	0.169	0.797	0.262	0.126	0.224	0.021	0.076	0.194	0.025	0.086
ACIN7	0.151	0.764	0.180	0.111	0.166	0.057	0.061	0.109	0.003	0.086
ACT1	0.032	0.257	0.789	0.049	0.165	−0.018	0.065	−0.042	−0.016	0.010
ACT2	0.025	0.259	0.714	0.040	0.137	−0.058	0.074	−0.006	0.052	0.096
ACT3	0.009	0.239	0.876	0.090	0.119	0.056	0.088	−0.032	0.056	0.043
ACT4	0.027	0.240	0.854	0.112	0.148	0.057	0.069	−0.003	0.048	−0.018
AFP1	0.087	0.134	0.101	0.871	0.097	0.195	0.247	0.013	0.146	−0.001
AFP2	0.093	0.126	0.089	0.878	0.076	0.105	0.266	0.020	0.134	0.010
AFP3	0.088	0.092	0.048	0.870	0.072	0.183	0.261	0.018	0.142	0.010
EXC1	0.017	0.189	0.092	0.060	0.764	−0.025	0.017	0.067	0.033	0.025
EXC2	0.078	0.198	0.090	0.031	0.792	0.028	−0.056	0.057	0.067	0.029
EXC3	0.063	0.217	0.147	0.086	0.848	0.006	0.013	0.044	0.045	0.030
EXC4	0.036	0.224	0.219	0.116	0.752	0.019	−0.008	0.023	0.082	0.038
FD1	0.098	0.061	0.020	0.222	0.016	0.909	0.239	0.109	0.188	0.050
FD2	0.053	0.026	0.042	0.158	−0.003	0.904	0.137	0.046	0.144	0.036
FD3	0.089	0.023	−0.031	0.102	0.013	0.872	0.123	0.114	0.094	0.059
GOV1	0.039	0.053	0.048	0.221	−0.043	0.160	0.854	0.071	−0.003	0.067
GOV2	0.065	0.088	0.091	0.211	0.002	0.172	0.834	0.043	−0.018	0.098
GOV3	0.062	0.092	0.093	0.313	0.011	0.155	0.856	0.063	0.031	0.041
GOVE1	0.115	0.164	−0.053	0.009	0.079	0.092	0.029	0.803	0.076	0.092
GOVE2	0.123	0.180	−0.021	0.051	0.039	0.088	0.092	0.831	0.073	0.045
GOVE3	0.065	0.165	0.025	−0.037	0.023	0.065	0.024	0.783	0.057	0.026
GOVE4	0.033	0.166	−0.029	0.038	0.045	0.070	0.079	0.760	0.021	0.046
IC1	0.118	0.064	0.057	0.083	0.057	0.106	0.009	0.073	0.822	−0.022
IC2	0.091	0.022	0.043	0.123	0.068	0.128	−0.020	0.062	0.867	0.012
IC3	0.079	0.040	0.017	0.192	0.061	0.175	0.021	0.057	0.875	0.000
TM1	0.051	0.146	0.137	−0.028	0.068	0.036	0.065	0.096	0.023	0.838
TM2	0.043	0.084	0.001	0.050	−0.007	0.084	0.077	0.024	−0.024	0.809
TM3	0.037	0.094	−0.033	−0.022	0.012	0.033	0.027	0.073	−0.009	0.775
TM4	0.063	0.077	−0.025	0.036	0.033	0.029	0.090	0.012	−0.012	0.849

Table 3. Results summary for Construct reliability.

Constructs and operationalization		Cronbach’s Alpha	Composite Reliability	PA	Result
Digital forensic accounting
Anti-Fraud Policies	AFP	0.844	0.906	0.844	Retained
Governance	GOV	0.805	0.885	0.807	Retained
Fraud Detection	FD	0.877	0.924	0.891	Retained
Internal Controls	IC	0.817	0.890	0.833	Retained
Metaverse circular business model innovation
Exchangeable	EXC	0.799	0.869	0.802	Retained
Actor	AC	0.846	0.897	0.848	Retained
Activity	ACT	0.823	0.884	0.826	Retained
Transaction mechanism	TM	0.838	0.890	0.865	Retained
Governance	GOVE	0.806	0.873	0.811	Retained
Accelerated internationalization	ACIN	0.893	0.916	0.895	Retained

Table 4. Results summary for Convergent validity.

Constructs and operationalization		Factor Loadings	AVE	Result
Digital forensic accounting
Anti-Fraud Policies	AFP1	0.871	0.762	Retained
	AFP2	0.878
	AFP3	0.870
Governance	GOV1	0.854	0.719	Retained
	GOV2	0.834
	GOV3	0.856
Fraud Detection	FD1	0.909	0.802	Retained
	FD2	0.904
	FD3	0.872
Internal Controls	IC1	0.822	0.731	Retained
	IC2	0.867
	IC3	0.875
Metaverse circular business model innovation
Exchangeable	EXC1	0.764	0.624	Retained
	EXC2	0.792
	EXC3	0.848
	EXC4	0.752
Actor	AC1	0.832	0.684	Retained
	AC2	0.849
	AC3	0.795
	AC4	0.832
Activity	ACT1	0.789	0.658	Retained
	ACT2	0.714
	ACT3	0.876
	ACT4	0.854
Transaction mechanism	TM1	0.838	0.669	Retained
	TM2	0.809
	TM3	0.775
	TM4	0.849
Governance	GOVE1	0.803	0.631	Retained
	GOVE2	0.831
	GOVE3	0.783
	GOVE4	0.760
Accelerated internationalization	ACIN1	0.780	0.608	Retained
	ACIN2	0.788
	ACIN3	0.777
	ACIN4	0.764
	ACIN5	0.785
	ACIN6	0.797
	ACIN7	0.764

Table 5. Results summary for discriminant validity on Fornell–Larker criterion.

	AFP	TM	GOVE	EXC	AC	FD	ACIN	GOV	IC	ACT
AFP	0.873
TM	0.007	0.818
GOVE	0.019	0.067	0.795
EXC	0.094	0.038	0.060	0.790
AC	0.103	0.060	0.109	0.062	0.827
FD	0.185	0.054	0.100	0.010	0.090	0.895
ACIN	0.134	0.128	0.212	0.263	0.210	0.043	0.780
GOV	0.296	0.079	0.070	−0.011	0.066	0.191	0.092	0.848
IC	0.161	−0.003	0.074	0.072	0.110	0.163	0.048	0.005	0.855
ACT	0.091	0.039	−0.025	0.176	0.028	0.014	0.307	0.092	0.043	0.811

Table 6. Results summary for discriminant validity on Heterotrait–Monotrait ratio.

	AFP	TM	GOVE	EXC	AC	FD	ACIN	GOV	IC	ACT
AFP
TM	0.049
GOVE	0.052	0.081
EXC	0.113	0.053	0.076
AC	0.121	0.069	0.128	0.080
FD	0.208	0.065	0.118	0.034	0.104
ACIN	0.154	0.141	0.246	0.309	0.238	0.047
GOV	0.356	0.097	0.087	0.054	0.080	0.221	0.106
IC	0.187	0.032	0.090	0.089	0.135	0.183	0.064	0.035
ACT	0.108	0.101	0.053	0.215	0.037	0.068	0.356	0.112	0.068

Figure 1. Hypothesized model.

Figure 2. Structural model.

Table 7. Results of hypotheses testing.

Relevant path	Path coefficient	SE	95% Confidence interval	VIF	t-value	p-value	Result
Direct effect
DFA → ACIN	0.049	0.034	[-0.015 - 0.117]	1.037	1.448	0.148	Rejected
DFA → MCBMI	0.188	0.039	[0.109 - 0.263]	1.000	4.801	0.000	Accepted
MCBMI → ACIN	0.449	0.034	[0.377 - 0.509]	1.037	13.171	0.000	Accepted
Indirect effect
DFA → MCBMI → ACIN	0.084	0.019	[0.047 - 0.121]	–	4.487	0.000	Accepted
R^2	R^2ACIN = 0.212; R^2MCBMI = 0.035
f^2	f^2DFA => MCBMI = 0.037; f^2DFA => ACIN = 0.003; f^2MCBMI => ACIN = 0.246

Table 8. Predictive model assessment.

Construct	Item	PLSpredict			CVPAT
		Q^2predict	RMSE PLS-SEM	LMRMSE	IA average loss difference (p value)	LM average loss difference (p value)
EXC	EXC1	0.001	1.157	1.167	0.001 (0.942)	−0.026 (0.009)
	EXC2		1.366	1.378
	EXC3		1.295	1.309
	EXC4		0.981	0.986
AC	AC1	0.018	1.339	1.352	−0.021 (0.017)	−0.029 (0.015)
	AC2		1.238	1.248
	AC3		1.315	1.325
	AC4		1.307	1.319
ACT	ACT1	0.009	1.254	1.257	−0.011 (0.182)	−0.014 (0.252)
	ACT2		1.143	1.148
	ACT3		1.110	1.119
	ACT4		1.502	1.508
TM	TM1	0.003	0.661	0.667	−0.001 (0.501)	−0.011 (0.000)
	TM2		0.736	0.745
	TM3		0.692	0.701
	TM4		0.783	0.789
GOVE	GOVE1	0.009	1.321	1.335	−0.010 (0.140)	−0.026 (0.046)
	GOVE2		1.337	1.342
	GOVE3		1.336	1.347
	GOVE4		1.397	1.405
ACIN	ACIN1	0.014	1.437	1.454	−0.018 (0.186)	−0.037 (0.002)
	ACIN2		1.460	1.472
	ACIN3		1.470	1.474
	ACIN4		1.492	1.503
	ACIN5		1.514	1.534
	ACIN6		1.465	1.474
	ACIN7		1.506	1.520
Overall					−0.076 (0.000)	0.137 (0.000)

Data availability statement

Not applicable