New issue of the Business Performance Review journal
The editorial team of Virtus Interpress is honoured to release a new issue of the journal Business Performance Review. This issue comprises scholarly articles that help readers navigate complexity in firm performance through factors related to internationalization, sustainability, and governance.
In particular, the published papers deal with such interesting topics as internationalization, performance, exploitation, exploration, financial performance, corporate governance, intellectual capital, absorptive capacity, dynamic capabilities, community enterprises, banks’ performance, dividend payout policy, digital trading activity, ESG performance, corporate sustainability, ESG disclosure, green packaging, profitability, market responsiveness, manufacturing firms, factoring service, SME ecosystem, REIT sector, IFRS 18, transparency, investor decision-making, bank performance, economic growth, ant others.
The full issue of the journal is available at the following link .
The first article by Hourya Mehdaoui and Nada Moufdi provides unique insights into the relationship between internationalization and the performance of SMEs. This study found that the relationship between firm performance and internationalization is negatively impacted when firms adopt both exploratory and exploitative strategies simultaneously (ambidexterity). Firm strategy should align with the environment, particularly during uncertain times such as the COVID-19 pandemic.
Olumide Samson Ola, Mohd Lizam, and Edie Ezwan Mohd Safian longitudinally evaluate the effectiveness and relevance of conventional financial performance metrics for real estate investment trusts (REITs) listed on the Malaysian Stock Exchange. Results indicate that intrinsic value in Malaysia’s REIT sector is best explained through equity-based profitability rather than cash-flow or market-value proxies. Investors should consider return on equity as the dominant screening and weighting criterion in REIT portfolios, and they should focus on equity-efficient capital allocation, conservative debt management, and disciplined reinvestment.
The research by Akkadet Uppachai, Sanyasorn Swasthaisong, Chardchai Udomkijmongkol, Denchai Sompong, and Chainarong Phoonkasem applies structural equation modeling to understand the relationships between intellectual capital, absorptive capacity, dynamic capabilities, and organizational performance across 346 companies in Thailand. The findings underscore the importance of non-physical assets in the adaptability and success of community enterprises.
Mohammad Sami Ali, Sultan Alabdulatif, Saleh Baqader, Mohammad Hariri, and Mahmud Alataibi examine the performance and dividend policies of Jordanian banks using time series data from 2013 to 2024. They find that dividend distribution decisions can improve bank performance by increasing the traded value within the digital trading system. Increased dividend distributions can motivate investor demand for bank stocks, leading to greater market capitalization.
Ameya Patekar and Sarika Mahajan systematically review and analyze 287 research articles on the relationships and annual trends between firm value and environmental, social, and governance (ESG) performance. The authors identify a notable surge in ESG studies following the global pandemic, with most studies indicating a positive correlation between firm ESG performance and company value. Exceptions relate to industry specifics, geographical variations, and time period differences.
John Kwame Akuma, Derrick Nukunu Akude, Emmanuel Addai Kwaning, Isaac Kwame Amoah-Ahinful, and Peter Besah Avevor survey 267 representatives from manufacturing firms in Ghana to determine whether environmental commitment, innovation in green packaging, regulatory compliance, and consumer preparation positively correspond to profitability and whether these relationships are moderated by market responsiveness. Results highlight the importance of market responsiveness in strengthening these relationships.
Suraj Pradhan, Vikas Kumar Khare, Tara Kumar Sharma, Sandeep Raghuwanshi, Arif Hasan, Lavanya Singhal, and Monika Saxena, in their study, conduct an in-depth bibliometric analysis of global trends in factoring services and accounts receivable research from 1938 to the present. Factoring, which is a practice that involves debt collection, credit protection, and administration of outstanding accounts, is shown to be a more efficient financial management instrument than traditional loans. Organizational leaders, especially in SMEs, may consider this approach if they have not already done so.
Rexhina Alite, Gerald Çeka, Lindita Milo, and Shkëlqim Fortuzi examine factors related to the performance of SMEs in Albania. Results from 383 SMEs show that organizational outcomes cannot be attributed solely to internal resources; rather, they are embedded within an entrepreneurial ecosystem that includes institutions, networks, market forces, and support mechanisms. Additionally, human capital and intermediary services play crucial roles in driving SME performance.
Hussein Zuhair Abdulameer Zainy and Rabab Adnan Fadhil Al-Rubaye examine the impact of implementing International Financial Reporting Standard 18 (IFRS 18) on investors’ ability to analyze banks’ financial performance on the Iraq Stock Exchange. Comparing data from two Iraqi banks — Bank of Baghdad and Mansour Bank — they find that banks adopting IFRS 18 offer investors more transparent financial information, enabling more informed decisions regarding risk and return. Implementation of these standards may benefit banks’ sustainability and competitiveness.
Isaac Francis Antwi, Carla Carvalho, Cecília Carmo, and Eric Nkansah explore whether adherence to the 2010 Ghana Securities and Exchange Commission’s six principles corresponds positively to firm financial performance between 2009 and 2020. The authors find that compliance with audits, disclosures in annual reports, and financial practices is the most influential factor in enhancing performance.
The final article, by Hamid Mohsin Jadah, Noor Hashim Mohammed Al-Husainy, and Hadeer Khayoon Ashour, examines bank performance in the context of an emerging economy characterized by a weak political system and significant corruption in Iraq. The authors find that economic growth in Iraq depends on bank profitability, with return on equity and return on assets serving as key indicators of profitability and stability.
We hope that the findings presented in this issue will be interesting and useful to academics, practitioners, and policymakers.
