The effectiveness of growth strategies used by Zimbabwean microfinance institutions to improve company performance
Abstract:
Purpose: Growth strategies are essential for the survival of MFIs worldwide; however, this phenomenon has not been extensively researched, particularly in developed countries. Accordingly, this study aims to ascertain the effectiveness of the growth strategies used by Zimbabwean microfinance institutions to improve company performance.
Research Methodology: The study adopted a quantitative research approach using an explanatory research design. The target population was drawn from personnel at 10 registered microfinance institutions in Bulawayo, Zimbabwe, from accounting, finance, marketing, operations, and business development. The targeted population total was 250, and the sample size was 152, using Krejcie and Morgan's sample size determination model. The study employed a stratified sampling technique, and the data were analyzed using Spearman’s correlation coefficient.
Results: Results showed that Digital innovation significantly affects the operational efficiency of MFIs. Funding diversification positively influences profitability. The results further show that an increased branch network positively affects the market share.
Limitations: The current study's investigation of ten registered microfinance institutions within Bulawayo, Zimbabwe, restricts the generalizability of the findings to other contexts.
Contributions: The findings of this study can influence policies and practices in Zimbabwe and other developing countries. The research will contribute massively to microfinance institutions, where they will be able to handle transactions, retain records, manage client databases, and enhance loan disbursement and repayment procedures.
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AlMulhim, A. F. (2021). Smart supply chain and firm performance: the role of digital technologies. Business process management journal, 27(5), 1353-1372.
Apuke, O. (2017). Quantitative Research Methods: A Synopsis Approach. Kuwait Chapter of Arabian Journal of Business and Management Review, 6(11), 40–47.
Aslam, E., & Haron, R. (2021). Corporate governance and banking performance: the mediating role of intellectual capital among OIC countries. Corporate Governance: The International Journal of Business in Society, 21(1), 111-136.
Aurnab, A., Choudhury, S., Ruhan, S. R., Rifaiya Abrar, S. M., & Hossain Rabbi, S. (2023). Comparative analysis of machine learning techniques in optimal site selection. Brac University.
Bagozzi, R. P. (2007). The legacy of the technology acceptance model and a proposal for a paradigm shift. Journal of the association for information systems, 8(4), 3.
Bejinaru, R., & Balan, I. (2020). IT tools for managers to streamline employees' work in the digital age. The USV Annals of Economics and Public Administration, 20(1 (31)), 120-130.
Bhattacharya, A., Morgan, N. A., & Rego, L. L. (2022). Examining why and when market share drives firm profit. Journal of marketing, 86(4), 73-94.
Borodin, A., Sayabek, Z. S., Islyam, G., & Panaedova, G. (2020). Impact of mergers and acquisitions on companies’ financial performance. Journal of International Studies, 13(2).
Carè, R., Trotta, A., & Rizzello, A. (2018). An alternative finance approach for a more sustainable financial system. Designing a sustainable financial system: Development goals and socio-ecological responsibility, 17-63.
Chikerema, L., & Makanyeza, C. (2021). Enhancing the performance of micro?enterprises through market orientation: Evidence from Harare, Zimbabwe. Global Business and Organizational Excellence, 40(3), 6-19.
Chikwira, C., & Rawjee, V. P. (2022). Innovative Financing Strategies in the Small and Medium Business Sector, Tapping the Right Sources. The Journal of Accounting and Management, 12(3).
Chindudzi, G., Maradze, T., & Nyoni, T. (2020). The impact of digital banking on the performance of commercial banks in Zimbabwe. International Journal of Advance Research and Innovative Ideas in Education, 6 (6), 1190-1219.
Creswell, J. W., & Creswell, J. D. (2017). Research design: Qualitative, quantitative, and mixed methods approaches: Sage publications.
Davis, F. D., Bagozzi, R., & Warshaw, P. (1989). Technology acceptance model. J Manag Sci, 35(8), 982-1003.
Dirman, A. (2020). Financial distress: the impacts of profitability, liquidity, leverage, firm size, and free cash flow. International Journal of Business, Economics and Law, 22(1), 17-25.
Dube, F., Nzimande, N., & Muzindutsi, P.-F. (2023). Application of artificial neural networks in predicting financial distress in the JSE financial services and manufacturing companies. Journal of Sustainable Finance & Investment, 13(1), 723-743.
Duho, K. C. T., & Onumah, J. M. (2021). Determinants of intellectual capital performance in banks: empirical insights from an emerging market. Afro-Asian Journal of Finance and Accounting, 11(4), 583-606.
Elumah, L. (2023). Banks’ Strategic International Expansion: Evidence from Africa. Journal of Management Studies and Development, 2(03), 262-270.
Fang, C., Pan, F., & Lai, K. P. (2023). The brokerage role of Hong Kong in global financial networks: the case of mainland Chinese companies’ US listings. Regional Studies, 57(2), 317-329.
Githaiga, P. N. (2022). Income diversification and bank risk-taking: The moderating role of intellectual capital. Cogent Business & Management, 9(1), 2149142.
Gopal, M., & Schnabl, P. (2022). The rise of finance companies and fintech lenders in small business lending. The Review of Financial Studies, 35(11), 4859-4901.
Grey, K. (2024). Using formal theory in evaluation–What is it and how is it used? Evaluation Journal of Australasia, 1035719X241249249.
Gu, J., Yang, Y., & Strange, R. (2018). Firm diversification and financial performance: Evidence from manufacturing firms worldwide. Contemporary Issues in International Business: Institutions, Strategy and Performance, 297-315.
Gupta, V. (2022). Innovation Mechanisms in Start-Ups: Practice, Strategies and Impacts: Springer.
Hasan, K. (2017). Investment of banks to facilitate and benefit the small and medium as well as minor entrepreneur: First Security Islami Bank Ltd., Biswa Road Branch.
Hossain, M. I., Akter, N., & Muzareba, A. M. (2024). Marketing in a Transition Economy. Springer Books.
Itai, M., Binuyo, A., & Asikhia, O. (2020). Information technology service management and bank efficiency in Nigeria: The moderating role of branch network. IOSR Journal of Business and Management, 22(3), 13-23.
Kaczmarek, S., Benedict, M., & Susky, M. (2020). The Nature of Digital Innovation and What Can Be Learned for Information Systems Management. Paper presented at the HEALTHINF.
Kajongwe, C., Munoneka, S., & Masamba, T. (2022). The Impact of Corporate Governance Practices on Performance of Mining Sector in Zimbabwe. Journal of African Interdisciplinary Studies, 6(1), 21-33.
Khan, S. A. R., Piprani, A. Z., & Yu, Z. (2022). Digital technology and circular economy practices: future of supply chains. Operations Management Research, 15(3), 676-688.
Kori, B. W., Muathe, S., & Maina, S. M. (2020). Financial and non-financial measures in evaluating Performance: the role of strategic intelligence in the context of commercial banks in Kenya. International Business Research, 13(10), 130-130.
Kraus, S., Schiavone, F., Pluzhnikova, A., & Invernizzi, A. C. (2021). Digital transformation in healthcare: Analyzing the current state-of-research. Journal of business research, 123, 557-567.
Mac-Ozigbo, A., & Daniel, C. O. (2020). Diversification strategy and financial performance of Nigeria Private firms. International Journal of Scientific Research and Management, 8(7), 1883-1889.
Madan, N. (2020). A review of access to finance by micro, small and medium enterprises and digital financial services in selected Asia-Pacific least developed countries.
Makanyeza, C., & Dzvuke, G. (2015). The influence of innovation on the performance of small and medium enterprises in Zimbabwe. Journal of African Business, 16(1-2), 198-214.
Mazikana, A. T. (2022). The impact of Customer Relationship Management on Customer Satisfaction in Telecommunication Industry in Zimbabwe. Available at SSRN 4154445.
Mbithe, M. M. (2021). Effect of organizational capabilities on the perceived performance of microfinance institutions in Kenya. Strathmore University.
Mbulawa, S. (2020). Determinants of Capital Structure Choices by Listed Firms in Zimbabwe under Hyperinflation and Dollarization: AERC.
Mõttus, R., Wood, D., Condon, D. M., Back, M. D., Baumert, A., Costantini, G., . . . Lukaszewski, A. (2020). Descriptive, predictive and explanatory personality research: Different goals, different approaches, but a shared need to move beyond the Big Few traits. European Journal of Personality, 34(6), 1175-1201.
Moyi, E. D. (2019). Loan growth and risk: evidence from microfinance institutions in Africa.
Mrindoko, A., & Pastory, D. (2022). The Contribution of Microfinance Institutions (MFIs) Services to Poverty Reduction among Micro and Small Entrepreneurs in Iringa Municipality, Tanzania. African Journal of Applied Research, 8(1).
Mugambi, I. (2022). Effects Of Digital Banking On Banking Sector Performance In Kenya. University of Nairobi.
Mveku, B., Mutero, T. T., Nyamwanza, T., Chagwesha, M., & Bhibhi, P. (2023). The Significance of Microfinance Establishments on The Growth of Small to Medium Enterprises in Zimbabwe. International Journal of Management, Entrepreneurship, Social Science and Humanities, 7(1), 50-61.
Nadkarni, S., & Haider, I. (2022). Digital transformation, operational efficiency and sustainability: innovation drivers for hospitality's rebound in the United Arab Emirates. Worldwide Hospitality and Tourism Themes, 14(6), 572-578.
Nato, J. W., & Gaiku, P. (2022). Effect of Funding Diversification on the Financial Performance of Nongovernmental Organizations in Kenya: A Case of Kenya Red Cross Society. European Scientific Journal, 18(9), 64.
Nyabiba, J., & Kimani, E. (2023). Portfolio Diversification and Financial Performance of Microfinance Institutions in Nairobi County, Kenya. International Journal of Finance, 8, 90-113. doi:10.47941/ijf.1270
Okolie, P. I., & Eze, J. (2023). Impact of Electronic Banking on the Performance of Financial Institutions in Nigeria (A Study of First Bank Plc). Global Journal of Finance and Business Review| ISSN, 1694, 450X.
Olasehinde, S. A., Solanke, F. T., Kukoyi, O. E., & Ogunsina, T. A. (2023). Effect of Merger and Acquisition on the Performance of Banking Industry in Nigeria. Fuoye Journal of Accounting and Management, 6(2).
Olusola, B. E., Mengze, H., Chimezie, M. E., & Chinedum, A. P. (2022). The Impact of capital structure on firm performance-evidence from large companies in Hong Kong stock exchange. Open Journal of Business and Management, 10(3), 1332-1361.
Ongore, V. O., & Kusa, G. B. (2013). Determinants of financial performance of commercial banks in Kenya. International journal of economics and financial issues, 3(1), 237-252.
Onuorah, A., Oboro, O., & Okoh, E. (2022). BANK BRANCH NETWORK EXPANSION AND FINANCIAL PERFORMANCE: AN EMPIRICAL SURVEY OF NIGERIAN BANKING SYSTEM. International Journal of Social Science and Economic Research, 7(2).
Pak, O. (2020). Bank profitability in the Eurasian Economic Union: Do funding liquidity and systemic importance matter? The North American Journal of Economics and Finance, 54, 101265.
Rabinovych, M. (2023). The Present and Future of Sustainable Development Goals amid the Transforming Global Order and Social Change. A Decade of Action. The Palgrave Handbook of Global Social Change, 1-24.
Saksena, R. (n.d.). STRATIFIED RANDOM SAMPLING.
Sandhu, S., & Arora, S. (2022). Customers' usage behaviour of e?banking services: Interplay of electronic banking and traditional banking. International Journal of Finance & Economics, 27(2), 2169-2181.
Shah, N., Zehri, A. W., Saraih, U. N., Abdelwahed, N. A. A., & Soomro, B. A. (2024). The role of digital technology and digital innovation towards firm performance in a digital economy. Kybernetes, 53(2), 620-644.
Simon, H. (2021). True Profit! : Springer.
Suchandiko, E., Efni, Y., & Rokhmawati, A. (2021). The Effect of Diversification and Funding Decisions on Company Performance and Corporate Value with Good Corporate Governance (GCG) as Moderated Variable. International Journal of Economic, Business & Applications, 6(1), 19-30.
Syahnur, H. (2024). Leveraging Technology and Innovation for Effective E-Business Management. Advances in Business & Industrial Marketing Research, 2(2), 83-95.
Tadele, H., Roberts, H., & Whiting, R. (2022). Microfinance institutions' risk and governance in Sub-Saharan Africa. International Journal of Social Economics, 49(3), 449-469.
Tan, S.-H., Wong, C.-K., Yap, Y.-Y., & Tan, S.-K. (2024). Factors influencing telemedicine adoption among physicians in the Malaysian healthcare system: A revisit. Digital Health, 10, 20552076241257050.
Uche, B. D. (2021). EFFECT OF MARKETING DISTRIBUTION CHANNEL STRATEGIES ON THE PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA. Academy of Marketing Studies Journal, 25, 1-16.
Uniamikogbo, E., Okoye, E. I., & Amos, A. O. (2021). Income diversification and financial performance of selected deposit money banks in Nigeria. International Journal of Applied Management Sciences and Engineering (IJAMSE), 8(1), 89-105.
Usai, A., Fiano, F., Petruzzelli, A. M., Paoloni, P., Briamonte, M. F., & Orlando, B. (2021). Unveiling the impact of the adoption of digital technologies on firms’ innovation performance. Journal of business research, 133, 327-336.
Wamba-Taguimdje, S.-L., Wamba, S. F., Kamdjoug, J. R. K., & Wanko, C. E. T. (2020). Influence of artificial intelligence (AI) on firm performance: the business value of AI-based transformation projects. Business process management journal, 26(7), 1893-1924.
Yang, L., Zou, H., Shang, C., Ye, X., & Rani, P. (2023). Adoption of information and digital technologies for sustainable smart manufacturing systems for industry 4.0 in small, medium, and micro enterprises (SMMEs). Technological Forecasting and Social Change, 188, 122308.
Yang, M., Fu, M., & Zhang, Z. (2021). The adoption of digital technologies in supply chains: Drivers, process and impact. Technological Forecasting and Social Change, 169, 120795.
- AlMulhim, A. F. (2021). Smart supply chain and firm performance: the role of digital technologies. Business process management journal, 27(5), 1353-1372.
- Apuke, O. (2017). Quantitative Research Methods: A Synopsis Approach. Kuwait Chapter of Arabian Journal of Business and Management Review, 6(11), 40–47.
- Aslam, E., & Haron, R. (2021). Corporate governance and banking performance: the mediating role of intellectual capital among OIC countries. Corporate Governance: The International Journal of Business in Society, 21(1), 111-136.
- Aurnab, A., Choudhury, S., Ruhan, S. R., Rifaiya Abrar, S. M., & Hossain Rabbi, S. (2023). Comparative analysis of machine learning techniques in optimal site selection. Brac University.
- Bagozzi, R. P. (2007). The legacy of the technology acceptance model and a proposal for a paradigm shift. Journal of the association for information systems, 8(4), 3.
- Bejinaru, R., & Balan, I. (2020). IT tools for managers to streamline employees' work in the digital age. The USV Annals of Economics and Public Administration, 20(1 (31)), 120-130.
- Bhattacharya, A., Morgan, N. A., & Rego, L. L. (2022). Examining why and when market share drives firm profit. Journal of marketing, 86(4), 73-94.
- Borodin, A., Sayabek, Z. S., Islyam, G., & Panaedova, G. (2020). Impact of mergers and acquisitions on companies’ financial performance. Journal of International Studies, 13(2).
- Carè, R., Trotta, A., & Rizzello, A. (2018). An alternative finance approach for a more sustainable financial system. Designing a sustainable financial system: Development goals and socio-ecological responsibility, 17-63.
- Chikerema, L., & Makanyeza, C. (2021). Enhancing the performance of micro?enterprises through market orientation: Evidence from Harare, Zimbabwe. Global Business and Organizational Excellence, 40(3), 6-19.
- Chikwira, C., & Rawjee, V. P. (2022). Innovative Financing Strategies in the Small and Medium Business Sector, Tapping the Right Sources. The Journal of Accounting and Management, 12(3).
- Chindudzi, G., Maradze, T., & Nyoni, T. (2020). The impact of digital banking on the performance of commercial banks in Zimbabwe. International Journal of Advance Research and Innovative Ideas in Education, 6 (6), 1190-1219.
- Creswell, J. W., & Creswell, J. D. (2017). Research design: Qualitative, quantitative, and mixed methods approaches: Sage publications.
- Davis, F. D., Bagozzi, R., & Warshaw, P. (1989). Technology acceptance model. J Manag Sci, 35(8), 982-1003.
- Dirman, A. (2020). Financial distress: the impacts of profitability, liquidity, leverage, firm size, and free cash flow. International Journal of Business, Economics and Law, 22(1), 17-25.
- Dube, F., Nzimande, N., & Muzindutsi, P.-F. (2023). Application of artificial neural networks in predicting financial distress in the JSE financial services and manufacturing companies. Journal of Sustainable Finance & Investment, 13(1), 723-743.
- Duho, K. C. T., & Onumah, J. M. (2021). Determinants of intellectual capital performance in banks: empirical insights from an emerging market. Afro-Asian Journal of Finance and Accounting, 11(4), 583-606.
- Elumah, L. (2023). Banks’ Strategic International Expansion: Evidence from Africa. Journal of Management Studies and Development, 2(03), 262-270.
- Fang, C., Pan, F., & Lai, K. P. (2023). The brokerage role of Hong Kong in global financial networks: the case of mainland Chinese companies’ US listings. Regional Studies, 57(2), 317-329.
- Githaiga, P. N. (2022). Income diversification and bank risk-taking: The moderating role of intellectual capital. Cogent Business & Management, 9(1), 2149142.
- Gopal, M., & Schnabl, P. (2022). The rise of finance companies and fintech lenders in small business lending. The Review of Financial Studies, 35(11), 4859-4901.
- Grey, K. (2024). Using formal theory in evaluation–What is it and how is it used? Evaluation Journal of Australasia, 1035719X241249249.
- Gu, J., Yang, Y., & Strange, R. (2018). Firm diversification and financial performance: Evidence from manufacturing firms worldwide. Contemporary Issues in International Business: Institutions, Strategy and Performance, 297-315.
- Gupta, V. (2022). Innovation Mechanisms in Start-Ups: Practice, Strategies and Impacts: Springer.
- Hasan, K. (2017). Investment of banks to facilitate and benefit the small and medium as well as minor entrepreneur: First Security Islami Bank Ltd., Biswa Road Branch.
- Hossain, M. I., Akter, N., & Muzareba, A. M. (2024). Marketing in a Transition Economy. Springer Books.
- Itai, M., Binuyo, A., & Asikhia, O. (2020). Information technology service management and bank efficiency in Nigeria: The moderating role of branch network. IOSR Journal of Business and Management, 22(3), 13-23.
- Kaczmarek, S., Benedict, M., & Susky, M. (2020). The Nature of Digital Innovation and What Can Be Learned for Information Systems Management. Paper presented at the HEALTHINF.
- Kajongwe, C., Munoneka, S., & Masamba, T. (2022). The Impact of Corporate Governance Practices on Performance of Mining Sector in Zimbabwe. Journal of African Interdisciplinary Studies, 6(1), 21-33.
- Khan, S. A. R., Piprani, A. Z., & Yu, Z. (2022). Digital technology and circular economy practices: future of supply chains. Operations Management Research, 15(3), 676-688.
- Kori, B. W., Muathe, S., & Maina, S. M. (2020). Financial and non-financial measures in evaluating Performance: the role of strategic intelligence in the context of commercial banks in Kenya. International Business Research, 13(10), 130-130.
- Kraus, S., Schiavone, F., Pluzhnikova, A., & Invernizzi, A. C. (2021). Digital transformation in healthcare: Analyzing the current state-of-research. Journal of business research, 123, 557-567.
- Mac-Ozigbo, A., & Daniel, C. O. (2020). Diversification strategy and financial performance of Nigeria Private firms. International Journal of Scientific Research and Management, 8(7), 1883-1889.
- Madan, N. (2020). A review of access to finance by micro, small and medium enterprises and digital financial services in selected Asia-Pacific least developed countries.
- Makanyeza, C., & Dzvuke, G. (2015). The influence of innovation on the performance of small and medium enterprises in Zimbabwe. Journal of African Business, 16(1-2), 198-214.
- Mazikana, A. T. (2022). The impact of Customer Relationship Management on Customer Satisfaction in Telecommunication Industry in Zimbabwe. Available at SSRN 4154445.
- Mbithe, M. M. (2021). Effect of organizational capabilities on the perceived performance of microfinance institutions in Kenya. Strathmore University.
- Mbulawa, S. (2020). Determinants of Capital Structure Choices by Listed Firms in Zimbabwe under Hyperinflation and Dollarization: AERC.
- Mõttus, R., Wood, D., Condon, D. M., Back, M. D., Baumert, A., Costantini, G., . . . Lukaszewski, A. (2020). Descriptive, predictive and explanatory personality research: Different goals, different approaches, but a shared need to move beyond the Big Few traits. European Journal of Personality, 34(6), 1175-1201.
- Moyi, E. D. (2019). Loan growth and risk: evidence from microfinance institutions in Africa.
- Mrindoko, A., & Pastory, D. (2022). The Contribution of Microfinance Institutions (MFIs) Services to Poverty Reduction among Micro and Small Entrepreneurs in Iringa Municipality, Tanzania. African Journal of Applied Research, 8(1).
- Mugambi, I. (2022). Effects Of Digital Banking On Banking Sector Performance In Kenya. University of Nairobi.
- Mveku, B., Mutero, T. T., Nyamwanza, T., Chagwesha, M., & Bhibhi, P. (2023). The Significance of Microfinance Establishments on The Growth of Small to Medium Enterprises in Zimbabwe. International Journal of Management, Entrepreneurship, Social Science and Humanities, 7(1), 50-61.
- Nadkarni, S., & Haider, I. (2022). Digital transformation, operational efficiency and sustainability: innovation drivers for hospitality's rebound in the United Arab Emirates. Worldwide Hospitality and Tourism Themes, 14(6), 572-578.
- Nato, J. W., & Gaiku, P. (2022). Effect of Funding Diversification on the Financial Performance of Nongovernmental Organizations in Kenya: A Case of Kenya Red Cross Society. European Scientific Journal, 18(9), 64.
- Nyabiba, J., & Kimani, E. (2023). Portfolio Diversification and Financial Performance of Microfinance Institutions in Nairobi County, Kenya. International Journal of Finance, 8, 90-113. doi:10.47941/ijf.1270
- Okolie, P. I., & Eze, J. (2023). Impact of Electronic Banking on the Performance of Financial Institutions in Nigeria (A Study of First Bank Plc). Global Journal of Finance and Business Review| ISSN, 1694, 450X.
- Olasehinde, S. A., Solanke, F. T., Kukoyi, O. E., & Ogunsina, T. A. (2023). Effect of Merger and Acquisition on the Performance of Banking Industry in Nigeria. Fuoye Journal of Accounting and Management, 6(2).
- Olusola, B. E., Mengze, H., Chimezie, M. E., & Chinedum, A. P. (2022). The Impact of capital structure on firm performance-evidence from large companies in Hong Kong stock exchange. Open Journal of Business and Management, 10(3), 1332-1361.
- Ongore, V. O., & Kusa, G. B. (2013). Determinants of financial performance of commercial banks in Kenya. International journal of economics and financial issues, 3(1), 237-252.
- Onuorah, A., Oboro, O., & Okoh, E. (2022). BANK BRANCH NETWORK EXPANSION AND FINANCIAL PERFORMANCE: AN EMPIRICAL SURVEY OF NIGERIAN BANKING SYSTEM. International Journal of Social Science and Economic Research, 7(2).
- Pak, O. (2020). Bank profitability in the Eurasian Economic Union: Do funding liquidity and systemic importance matter? The North American Journal of Economics and Finance, 54, 101265.
- Rabinovych, M. (2023). The Present and Future of Sustainable Development Goals amid the Transforming Global Order and Social Change. A Decade of Action. The Palgrave Handbook of Global Social Change, 1-24.
- Saksena, R. (n.d.). STRATIFIED RANDOM SAMPLING.
- Sandhu, S., & Arora, S. (2022). Customers' usage behaviour of e?banking services: Interplay of electronic banking and traditional banking. International Journal of Finance & Economics, 27(2), 2169-2181.
- Shah, N., Zehri, A. W., Saraih, U. N., Abdelwahed, N. A. A., & Soomro, B. A. (2024). The role of digital technology and digital innovation towards firm performance in a digital economy. Kybernetes, 53(2), 620-644.
- Simon, H. (2021). True Profit! : Springer.
- Suchandiko, E., Efni, Y., & Rokhmawati, A. (2021). The Effect of Diversification and Funding Decisions on Company Performance and Corporate Value with Good Corporate Governance (GCG) as Moderated Variable. International Journal of Economic, Business & Applications, 6(1), 19-30.
- Syahnur, H. (2024). Leveraging Technology and Innovation for Effective E-Business Management. Advances in Business & Industrial Marketing Research, 2(2), 83-95.
- Tadele, H., Roberts, H., & Whiting, R. (2022). Microfinance institutions' risk and governance in Sub-Saharan Africa. International Journal of Social Economics, 49(3), 449-469.
- Tan, S.-H., Wong, C.-K., Yap, Y.-Y., & Tan, S.-K. (2024). Factors influencing telemedicine adoption among physicians in the Malaysian healthcare system: A revisit. Digital Health, 10, 20552076241257050.
- Uche, B. D. (2021). EFFECT OF MARKETING DISTRIBUTION CHANNEL STRATEGIES ON THE PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA. Academy of Marketing Studies Journal, 25, 1-16.
- Uniamikogbo, E., Okoye, E. I., & Amos, A. O. (2021). Income diversification and financial performance of selected deposit money banks in Nigeria. International Journal of Applied Management Sciences and Engineering (IJAMSE), 8(1), 89-105.
- Usai, A., Fiano, F., Petruzzelli, A. M., Paoloni, P., Briamonte, M. F., & Orlando, B. (2021). Unveiling the impact of the adoption of digital technologies on firms’ innovation performance. Journal of business research, 133, 327-336.
- Wamba-Taguimdje, S.-L., Wamba, S. F., Kamdjoug, J. R. K., & Wanko, C. E. T. (2020). Influence of artificial intelligence (AI) on firm performance: the business value of AI-based transformation projects. Business process management journal, 26(7), 1893-1924.
- Yang, L., Zou, H., Shang, C., Ye, X., & Rani, P. (2023). Adoption of information and digital technologies for sustainable smart manufacturing systems for industry 4.0 in small, medium, and micro enterprises (SMMEs). Technological Forecasting and Social Change, 188, 122308.
- Yang, M., Fu, M., & Zhang, Z. (2021). The adoption of digital technologies in supply chains: Drivers, process and impact. Technological Forecasting and Social Change, 169, 120795.