New issue of the Business Performance Review journal
The editorial team of Virtus Interpress is honored to publish the first issue of the journal Business Performance Review in 2025. This issue offers a comprehensive and timely contribution on business performance and corporate governance, including such issues as insolvency, bankruptcy, taxation, formalization, transparency, informal SMEs, ESG performance, sustainability, corporate social responsibility, Islamic banking, social responsibility, work motivation, shareholders, general meeting, stakeholders, innovation capabilities, balanced scorecard, non-profit organizations, performance management system, innovation performance, managerial capabilities, relational capabilities, technological capabilities, innovation strategy, etc.
The full issue of the journal is available at the following link .
The first paper by Dipti Lavya Swain, Sandhya Kumari, and Badrinath Srinivasan investigates the significant impact of India’s insolvency and bankruptcy laws on the aviation industry, focusing on major airline insolvencies such as Kingfisher and Jet Airways. By employing doctrinal research, the authors examine the effects of the Insolvency and Bankruptcy Code (IBC) in both the pre- and post-IBC periods, highlighting critical legislative and judicial developments.
Pierre Claude Mbama and Jean Roger Mfelam determine the impact of informal sector taxation on the formalization, transparency, and performance of SMEs operating informally in the Cameroonian context and examine in detail the various issues related to informal sector taxation. Their findings, therefore, call on governments to seriously consider strengthening communication on taxation of informal SMEs and to take into account the country’s socio-economic context when implementing this policy.
Pawan Kumar, Tapas Kumar Sahoo, Ghana Shyam Kafley, Neelam Jhawar, and Arijeet Das empirically examine the bidirectional association between corporate financial performance and ESG performance. The study contributes to the ongoing debate on whether ESG is a driver of financial success or a by-product of it, offering nuanced insights into how firms can strategically integrate sustainability practices.
Ummu Salma Al Azizah and Razali Haron, in their study, examine the impact of corporate governance on the financial performance of Islamic banks in a developing economy, with a focus on Indonesia. The findings offer valuable insights for policymakers formulating governance mechanisms for Islamic banks and provide businesses and investors with a deeper understanding of governance in the Islamic banking sector.
Nurhadiansjah and Mansur aim to determine the effect of gender diversity, firm size, and leverage on firm performance and governance in telecommunications sector companies listed on the Indonesia Stock Exchange (IDX) during the 2018–2023 period. The findings indicate that financial structure and gender composition in the firm have not had a significant impact on firm performance in the telecommunications sector, while high leverage tends to potentially reduce firm performance.
Doan Nguyen Thi and Duc Ho Dai explore the impact of CSR implementation on corporate performance and the mediating role of employee motivation and creativity in this relationship. According to the results of this study, CSR implementation has a positive impact on employee motivation, creativity, and corporate performance, and work motivation plays a mediating role in the relationship between CSR and firm performance. The authors state that enterprises should actively implement CSR to promote employee motivation and creativity, improve firm performance, and enhance brand value.
Ahmad Saiful Azlin Puteh Salin, Zubaidah Ismail, and Malcolm Smith investigate the connection between the level of engagement of shareholders and the profitability of corporations. The results provide further evidence on the importance of a good governance process via the inclusivity of shareholders and stakeholders in certain corporate exercises and activities. Specifically, this study emphasises the advantages of ongoing shareholder engagement for the company’s performance.
Apostolos N. Giovanis, Dimitris Kallivokas, Alexandros G. Sahinidis, and Sofia Asonitou extend previous research efforts concerning the role of social media adoption (SMA) in the context of micro- and small-enterprises (MSEs), for which the utilization of social media (SM) tools represents a significant opportunity for growth. The authors’ findings indicate that the positive and significant effect of SMA on MSEs’ performance is enhanced through their marketing and innovation capabilities, both of which partially mediate the relationship between SMA and business performance.
Zahratul Aflah Fatharani Rahimah Sudiyanto and Dwi Kurniawan aim to develop a performance management system (PMS) model suited to the needs of non-profit voluntary organizations (NPVOs). The study resulted in a concept map highlighting key PMS components: organizational mapping, process management, and output. One of the significant contributions of this research is the proposal to replace the traditional financial perspective with a stakeholder perspective in PMS design for NPVOs.
In the final paper, Yang Xing, Khar Kheng Yeoh, and Abdul Rahman Jaafar analyze the effect of managerial, relational, technological, and learning capabilities on innovation performance with a focus on the mediating function of innovation strategy. Leveraging the resource-based view, dynamic capabilities theory, and absorptive capacity theory, the authors deepen our understanding of how companies can use internal and external strengths to advance innovation results. The findings emphasize the necessity for integrating managerial, technological, relational, and learning dimensions with a formal innovation strategy to achieve sustainable innovation success.
We are pleased to share this issue as a reflection of the journal’s commitment to scholarly advancement and policy relevance.
