PurposeThe purpose of this paper is to examine the impact of owner family involvement in business on sustainable survival of family small-to-medium enterprises (SMEs) and to empirically validate the intervening role of corporate social responsibility (CSR).Design/methodology/approachThe authors analyze data from 489 owner and nonowner executives of 150 family SMEs using PLS-SEM (Partial Least Square–Structural Equation Modeling).FindingsThe authors found evidence that family involvement in business positively impacts the sustainable survival of family SMEs while corporate social responsibility partially mediates this relationship. Apart from effective family involvement in business, active involvement in social causes enhances a firm's ability to survive longer.Research limitations/implicationsThis study was conducted in a geographic context and data were collected from family-managed and controlled firms. Further research is needed to generalize the findings to all types of family firms in the global context. In an Islamic society, family firms need to invest in social causes, human development, and environmental sustainability through zakat, sadaqat, and donations.Practical implicationsThe findings imply that family firms require stakeholder-centric competitive strategies and socially responsible behavior along with effective family control, commitment, enrichment, and successful succession since the path to sustainable survival goes through CSR.Originality/valueSurvival is the biggest challenge facing family SMEs forcing them to achieve the ability to sustain longer. Rooted in transaction cost economics (TCE) theory of the family firm and stakeholder theory, this paper validates an integrative model for family SMEs' sustainable survival.
The emergence of fintech has revolutionized the traditional financial landscape, offering fast and efficient services to consumers while reducing costs for financial institutions. With the continuous advancements in technology, the fintech industry is expected to grow rapidly in the coming years, providing greater access to financial services and increasing financial inclusion across the globe. The main question explored in this study was: What is the impact of green Fintech on sustainability and consumer behavior within smart cities? The objectives of this study included analyzing the perceptions of consumers in the Middle East concerning green fintech’s impact on sustainability and examining green fintech policies and initiatives to identify how they shape consumer behavior. The current study employed qualitative methods, where eight participants were sampled and interviewed regarding the topic and six primary articles were sampled and analyzed. The interviews were conducted online, recorded, and later transcribed for analysis. The results show that green fintech promotes sustainability by encouraging companies to invest in renewable energy as a strategy for accessing more funds at lower interest rates. Moreover, green fintech was realized to enhance financial inclusion as small businesses and startups could easily access funding for innovating technologies that promote sustainability. However, a major challenge hindering the extensive adoption of green fintech identified was the limitation imposed by current regulatory framework. A conclusion from this study is that increasing consumer awareness of green fintech products and their benefits can help increase the rate of implementation of sustainable practices in organizations.
The number of people in need of healthcare is increasing over time despite the limited resources available in each country; hence, access to healthcare, quality of healthcare, and cost of healthcare remain contemporary global issues. The limitations of travel and access to healthcare during the global pandemic (COVID-19) have triggered the further search for improved and sustainable healthcare services through technology innovation and digital transformation in the healthcare sector. This study examines the impact of technology innovation on healthcare performance among 241 healthcare organizations in Saudi Arabia. The study utilizes the structural equation model (SEM) method to unravel the nature of technology innovation and its influence on healthcare performance. The results of SEM reveal that innovation efforts, in terms of R&D, training, and the acquisition of new software and acquisition of new medical machinery/equipment, have a significant influence on technology innovation and healthcare performance. Furthermore, the results further indicate that technology innovations measured by mobile technology, digitalization of health records, telehealth/telemedicine and artificial intelligence have great likelihood and significant influence on healthcare performance among the healthcare organizations surveyed. This implies that continuous innovative efforts and spending on various technology innovations would further improve the efficiency and quality of healthcare service which give a competitive advantage to healthcare organizations in Saudi Arabia. Hence, innovation which encompasses all stakeholders should be continuously reinforced in Saudi Arabia’s health policy as this would further strengthen healthcare performance.
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