References
https://doi.org/10.1080/09585192.2010.488428
Search via ReFindit
https://doi.org/10.51415/ajims.v6i1.1294
Search via ReFindit
https://doi.org/10.5465/amr.1978.4305755
Search via ReFindit
https://doi.org/10.1016/j.frl.2024.106584
Search via ReFindit
https://doi.org/10.1007/s10551-015-2922-8
Search via ReFindit
Acknowledgement. The authors extend their appreciation to the Deanship of Postgraduate Studies and Scientific Research at Majmaah University for funding this research work through the project number (R- 2026-287). /jesi/article/6685
Search via ReFindit
Adamkaite, J., Streimikiene, D., and Rudzioniene, K. (2022). The impact of social responsibility on corporate financial performance in the energy sector: Evidence from Lithuania. Corporate Social Responsibility and Environmental Management, 30(8), 1-14 https://doi.org/10.1002/csr.2340
Search via ReFindit
Agnese, P., Carè, R., Cerciello, M., and Taddeo, S. (2025). Reconsidering the impact of environmental, social and governance practices on firm profitability, Management Decision, 63(1), 25-48 https://doi.org/10.1108/MD-10-2023-1943
Search via ReFindit
Alodat, A., & Hao, Y. (2025). Environmental, social and governance (ESG) disclosure and firm performance: Moderating role of board gender diversity and sustainability committee. Sustainable Development, 33(1), 636-651 https://doi.org/10.1002/sd.3126
Search via ReFindit
Ansong, A. (2017). Corporate social responsibility and firm performance of Ghanaian SMEs: The role of stakeholder engagement. Cogent Business and Management, 4(1) https://doi.org/10.1080/23311975.2017.1333704
Search via ReFindit
Anwar, M., & Shah, S. (2021). Entrepreneurial orientation and generic competitive strategies for emerging SMEs: Financial and non-financial performance perspective, Journal of Public Affairs, 21(1), 1-17 https://doi.org/10.1002/pa.2125
Search via ReFindit
Bahta, D., Yun, J., Islam, M., & Bikanyi, K. (2021). How does CSR enhance the financial performance of SMEs? The mediating role of firm reputation. Economic Research-Ekonomska Istraživanja, 34(1), 1428-1451 https://doi.org/10.1080/1331677X.2020.1828130
Search via ReFindit
Banker, R. D., Mashruwala, R., & Tripathy, A. (2014). Does a differentiation strategy lead to more sustainable financial performance than a cost leadership strategy? Management Decision, 52(5), 872-896 https://doi.org/10.1108/MD-05-2013-0282
Search via ReFindit
Boakye, D., TIngbani, I., Ahinful, G., & Tauringana, V. (2020). Sustainable environmental practices and financial performance: Evidence from listed small and medium-sized enterprises in the United Kingdom. Business Strategy and the Environment, 29(6), 2583-2602 https://doi.org/10.1002/bse.2522
Search via ReFindit
Brunella, A., Federico, D., Roberto, F., & Madau, F. (2024). Role of environmental, social and governance disclosure in business profitability and cost of debt: An analysis of small Southern Italian agri-food businesses. Agribusiness, pp.1-40 https://doi.org/10.1002/agr.21933
Search via ReFindit
Bryan, D., Dinesh Fernando, G., & Tripathy, A. (2013). Bankruptcy risk, productivity and firm strategy. Review of Accounting and Finance, 12(4), 309-326 https://doi.org/10.1108/RAF-06-2012-0052
Search via ReFindit
Choi, J. S., Y. Kwak, & Choe, C. (2010). Corporate social responsibility and corporate financial performance: Evidence from Korea. Australian Journal of Management, 35(Dec.), 291-311 https://doi.org/10.1177/0312896210384681
Search via ReFindit
Choi, J., Kim, S., & Yang, D. (2018). Small and Medium Enterprises and the Relation between Social Performance and Financial Performance: Empirical Evidence from Korea. Sustainability, 10(6), 1-18 https://doi.org/10.3390/su10061816
Search via ReFindit
Chung, K. H., Yu, J. E., Choi, M. G., & Shin, J. I. (2015). The effects of CSR on customer satisfaction and loyalty in China: the moderating role of corporate image. Journal of Economics, Business and Management, 3(5), 542-547 https://doi.org/10.7763/JOEBM.2015.V3.243
Search via ReFindit
Coelho, R., Jayantilal, S., & Ferreira, J. (2023). The impact of social responsibility on corporate financial performance: A systematic literature review. Corporate Social Responsibility and Environmental Management, 30(4), 1535-1560 https://doi.org/10.1002/csr.2446
Search via ReFindit
Crisotomo, V., Freire, F., & De Vasconcellos, F. (2011). Corporate social responsibility, firm value and financial performance in Brazil. Social Responsibility Journal, 7(2), 295-309 https://doi.org/10.1108/17471111111141549
Search via ReFindit
Dalwai, T., & Salehi, M. (2021). Business strategy, intellectual capital, firm performance, and bankruptcy risk: evidence from Oman's non-financial sector companies. Asian Review of Accounting, 29(3), 474-504 https://doi.org/10.1108/ARA-01-2021-0008
Search via ReFindit
Dasanayaka, C., Gunarathne, D., & Nagirikandalage, P. (2022). Triggers for and Barriers to the Adoption of Environmental Management Practices by Small and Medium-Sized Enterprises: A Critical Review. Corporate Social Responsibility and Environmental Management, 29(4), 749-764 https://doi.org/10.1002/csr.2244
Search via ReFindit
Dess, G. G., & Davis, R. S. (1984). Porter's (1980) generic strategies as determinants of strategic group membership and organizational performance. Academy of Management Journal, 27(3), 647-488 https://doi.org/10.2307/256040
Search via ReFindit
Diab, A., Eissa, A. M., & Hamdy, A. (2025). The relationship between business strategy and bankruptcy risk: does financial flexibility matter? Evidence from a developing market. Cogent Business and Management, 12(1) https://doi.org/10.1080/23311975.2025.2553872
Search via ReFindit
DiSegni, D., Huly, M., & Akron, S. (2015). Corporate social responsibility, environmental leadership and financial performance. Social Responsibility Journal, 11, 131-148 https://doi.org/10.1108/SRJ-02-2013-0024
Search via ReFindit
Driss, R., & Jaballah, E. (2025). How corporate social responsibility reporting affects financial performance? Evidence from Saudi Arabia. Gulf Journal of Advance Business Research, 3(2) https://doi.org/10.51594/gjabr.v3i2.86
Search via ReFindit
Dunham, L., Freeman, R. E., & Liedtka, J. (2006). Enhancing stakeholder practice: A particularized exploration of community. Business Ethics Quarterly, 16(1), 23-42 https://doi.org/10.5840/beq20061611
Search via ReFindit
Dwibedi, P., Pahi, D., & Prava, A. (2025). Corporate Environmental, Social, and Governance Disclosure and Performance Dynamics: An Empirical Analysis of BRICS Nations. Indian Journal of Finance, 19(4) https://doi.org/10.17010/ijf/2025/v19i2/174769
Search via ReFindit
Dzomonda, O. (2022), Environmental Sustainability Commitment and Access to Finance by Small and Medium Enterprises: The Role of Financial Performance and Corporate Governance. Sustainability, 14, 1-20 https://doi.org/10.3390/su14148863
Search via ReFindit
Eissa, A. M., Hamdy, A., & Diab, A. (2024). Governmental Ownership, board gender diversity, and ESG performance: Evidence from an emerging market. Sustainability, 16(16) https://doi.org/10.3390/su16166963
Search via ReFindit
Garrido-Ruso, M., Otero-González, L., López-Penabad, M., & Santomil, P. (2024). Does ESG implementation influence performance and risk in SMEs? Corporate Social Responsibility and Environmental Management, 31(5), 4227-4247 https://doi.org/10.1002/csr.2783
Search via ReFindit
Ghaemi-Zadeh, N., & Eghbali-Zarch, M. (2024). Evaluation of business strategies based on the financial performance of the corporation and investors' behavior using D-CRITIC and fuzzy MULTI-MOORA techniques: A real case study. Expert Systems with Applications, 247(36) https://doi.org/10.1016/j.eswa.2024.123183
Search via ReFindit
Hambrick, D. C. (1983). High profit strategies in mature capital goods industries: a contingency approach. Academy of Management Journal, 26(4), 687-707 https://doi.org/10.2307/255916
Search via ReFindit
Hamdy, A., Eissa, A., & Diab, A. (2024). Economic Policy Uncertainty, Managerial Ability, and Cost of Equity Capital: Evidence from a Developing Country. Economies, 12(9) https://doi.org/10.3390/economies12090244
Search via ReFindit
Handoyo, S., Suharman, H., Ghani, E. K., & Soedarsono, S. (2023). A Business Strategy, Operational Efficiency, Ownership Structure, and Manufacturing Performance: The Moderating Role of Market Uncertainty and Competition Intensity and Its Implication on Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity, 9(2) https://doi.org/10.1016/j.joitmc.2023.100039
Search via ReFindit
Ho, J., Hsu, F., & Lee, C. (2022). Business strategy, corporate social responsibility activities, and financial performance. Journal of International Accounting Research, 21(1), 49-75 https://doi.org/10.2308/JIAR-2021-068
Search via ReFindit
Institutional Review Board Statement: The study was conducted in accordance with the Declaration of Helsinki, and approved by the Ethics Committee of the University of Majmaah (protocol code MUREC-Oct.20/COM-2025/129) dated 20-10-2025. /jesi/article/6685
Search via ReFindit
Jusoh, R., & Parnell, J. (2008). Competitive strategy and performance measurement in the Malaysian context: An exploratory study, Management Decision, 46(1), 5-31 https://doi.org/10.1108/00251740810846716
Search via ReFindit
Lam, W., Nie, L., & Edward, C. (2025). Firms' Preferences for Environmental, Social, and Governance Policies: Evidence from Small and Medium Enterprises in Hong Kong. Business Strategy and the Environment, 34(2), 2207-2221 https://doi.org/10.1002/bse.4100
Search via ReFindit
Lee, F., Lee, T., & Wu, W. (2010). The relationship between human resource management practices, business strategy and firm performance: evidence from steel industry in Taiwan. The International Journal of Human Resource Management, 21(9), 1351-1372. /jesi/article/6685
Search via ReFindit
Ma, C., Chishti, M.F., Durrani, M.K., Bashir, R., Safdar, S., & Hussain, R. (2023). The Corporate Social Responsibility and Its Impact on Financial Performance: A Case of Developing Countries. Sustainability, 15 https://doi.org/10.3390/su15043724
Search via ReFindit
Maccarrone, P., & Contri, A. M. (2021). Integrating corporate social responsibility into corporate strategy: The role of formal tools. Sustainability, 13(22), 12551 https://doi.org/10.3390/su132212551
Search via ReFindit
Maome, I., & Zondo, R. (2024). The impact of corporate social responsibility on financial performance in a selected medium-sized clothing manufacturing organization in South Africa. African Journal of Inter/Multidisciplinary Studies, 6(1), 1-11. /jesi/article/6685
Search via ReFindit
Marín, L., Rubio, A., & de Maya, S. R. (2012). Competitiveness as a strategic outcome of corporate social responsibility. Corporate Social Responsibility and Environmental Management, 19(6), 364-376 https://doi.org/10.1002/csr.1288
Search via ReFindit
Martinez-Conesa, I., Soto-Acosta, P., & Palacios-Manzano, M. (2017). Corporate social responsibility and its effect on innovation and firm performance: An empirical research in SMEs. Journal of Cleaner Production, 42, 2374-2383 https://doi.org/10.1016/j.jclepro.2016.11.038
Search via ReFindit
Maury, B. (2022). Strategic CSR and firm performance: The role of prospector and growth strategies. Journal of Economics and Business, 118, 106031 https://doi.org/10.1016/j.jeconbus.2021.106031
Search via ReFindit
Mehboob, A., & Zaidi, S. (2024). Exploring the Relationship between Sustainability Performance, Sustainable Competitive Advantages, and Firm Performance in Small and Medium-sized Enterprises of Pakistan. Global Management Journal for Academic and Corporate Studies, 14(1), 1-23 https://doi.org/10.59263/gmjacs.14.001.2024.386
Search via ReFindit
Meng, Q., Wang, S., & Zhong, Z. (2024). The effect of directors' and officers' liabilities insurance on corporate social responsibility evidence from China. International Review of Financial Analysis, 93(C) https://doi.org/10.1016/j.irfa.2024.103176
Search via ReFindit
Miles, R., & Snow, C.C. (1978). Organizational Strategy, Structure, and Process, McGraw Hill, New York, NY. /jesi/article/6685
Search via ReFindit
Moses, O., Tariquzzaman, A., Michael, E., Islam, A., & Zijl, T. (2026). Business strategy and Environmental, Social, and Governance (ESG) performance: Does a firm's strategic orientation matter? The British Accounting Review, 101872 https://doi.org/10.1016/j.bar.2026.101872
Search via ReFindit
Nejati, M., Quazi, A., Amran, A., & Ahmad, N. (2017). Social responsibility and performance: Does strategic orientation matter for small businesses? Journal of Small Business Management, 55, 43-59 https://doi.org/10.1111/jsbm.12305
Search via ReFindit
Nguyen, P., Mai, K., & Le, T. (2023). Strategic perspectives, creativity, and financial performance in Vietnamese SMEs. Heliyon, 9(9), 1-12 https://doi.org/10.1016/j.heliyon.2023.e20354
Search via ReFindit
Nurunnabi, M. (2017). Transformation from an oil-based economy to a knowledge-based economy in Saudi Arabia: the direction of Saudi vision 2030. Journal of the Knowledge Economy, 8(2), 536-564 https://doi.org/10.1007/s13132-017-0479-8
Search via ReFindit
Nurunnabi, M. (2020). Recovery planning and resilience of SMEs during the COVID-19: experience from Saudi Arabia. Journal of Accounting & Organizational Change, 16(4), 643-653 https://doi.org/10.1108/JAOC-07-2020-0095
Search via ReFindit
Nurunnabi, M., Donker, H., & Jermakowicz, E. K. (2022). The impact of mandatory adoption of IFRS in Saudi Arabia. Journal of International Accounting, Auditing and Taxation, 49, 100509 https://doi.org/10.1016/j.intaccaudtax.2022.100509
Search via ReFindit
Nyame-Asiamah, F., & Ghulam, S. (2020). The relationship between CSR activity and sales growth in the UK retailing sector. Social Responsibility Journal, 16(3), 387-401 https://doi.org/10.1108/SRJ-09-2018-0245
Search via ReFindit
Osorio-Londono, A., Naranjo-Valencia, J. & Calderon-Hernandez, G. (2020). Training and its influence on competitive strategy implementation. Human Resource Development Quarterly, 31(2), 149-172 https://doi.org/10.1002/hrdq.21381
Search via ReFindit
Park, W., Sung, C. S., & Byun, C. G. (2019). Impact of unlisted small and medium-sized enterprises' business strategies on future performance and growth sustainability. Journal of Open Innovation: Technology, Market, and Complexity, 5(3), 60 https://doi.org/10.3390/joitmc5030060
Search via ReFindit
Porter, M.E., & M. R. Kramer. (2007). Strategy and society the link between competitive advantage and corporate social responsibility. Harvard Business Review (Dec.), 1-14 https://hbr.org/2006/12/strategy-and-society-the-link-between-competitive-advantage-and-corporate-social-responsibility
Search via ReFindit
Qasem, A., Badru, B., Ghaleb, B., AL-Duais, S., & Al-Qadasi, A. (2024). Corporate social responsibility disclosure in Saudi companies: Analyzing the impact of board independence in family and non-family companies. Humanities and Social Sciences Communications, 11 https://doi.org/10.1057/s41599-024-03495-3
Search via ReFindit
Ricardianto, P., Kosendang, E., Abidin, Z., & Setiawati, R. (2023). The Effect of Business Strategy and Firm Reputation on Financial Performance and Its Implications for Shipping Companies' Stock Returns. WSEAS Transactions on Business and Economics, 20, 824-835 https://doi.org/10.37394/23207.2023.20.76
Search via ReFindit
Rini M., Sugengi K., & Suharnomo O. (2017). Moral discourse and corporate social responsibility reporting. Journal of Business Ethics, 78, 1-2, 47-64 https://doi.org/10.1007/s10551-006-9316-x
Search via ReFindit
Salamah, S. (2023). Financial Management Strategies to Improve Business Performance. Journal of Contemporary Administration and Management, 1(1) https://doi.org/10.61100/adman.v1i1.3
Search via ReFindit
Saleh, I., Afifa, M., & Alkhawaja, A. (2025). Environmental, social, and governance (ESG) disclosure, earnings management and cash holdings: Evidence from a European context. Business Ethics, the Environment and Responsibility, 34(2), 295-308 https://doi.org/10.1111/beer.12650
Search via ReFindit
Tasnia, M., Alhabshi, J., Rosman, R., & Kabir, M. (2025). Corporate social responsibility and the financial performance of global banks: the moderating role of corporate tax. Journal of Sustainable Finance and Investment, 245-264 https://doi.org/10.1080/20430795.2025.2452645
Search via ReFindit
Teeratansirikool, L., Siengthai, S., Badir, Y., & Charoenngam, C. (2013). Competitive strategies and firm performance: the mediating role of performance measurement. International Journal of Productivity and Performance Management, 62(2), 168-184 https://doi.org/10.1108/17410401311295722
Search via ReFindit
Thornhill, S., & White, R. E. (2007). Strategic purity: a multi-industry evaluation of pure vs. hybrid business strategies. Strategic Management Journal, 28(5), 553-561 https://doi.org/10.1002/smj.606
Search via ReFindit
Truong, T. (2025). Environmental, social and governance performance and firm value: does ownership concentration matter? Management Decision, 63(2), 488-511 https://doi.org/10.1108/MD-10-2023-1993
Search via ReFindit
Visedsun, U., & Terdpaopong, K. (2021). The effects of the strategy and goal on business performance as mediated by management accounting systems. Economies, 9(4), 1-17 https://doi.org/10.3390/economies9040149
Search via ReFindit
Vu, N., Bui, N., Nguyen, M., & Luu, H. (2021). Local Business Environment, Managerial Expertise and Tax Corruption of Small-and Medium-Sized Enterprises. Baltic Journal of Economics, 21(2), 134-157 https://doi.org/10.1080/1406099X.2021.1990473
Search via ReFindit
Wagner, M. (2010). Corporate social performance and innovation with high social benefits: A quantitative analysis. Journal of Business Ethics, 94(4), 581-594 https://doi.org/10.1007/s10551-009-0339-y
Search via ReFindit
Wall, T. D., Michie, J., Patterson, M., Wood, S., Sheehan, M., Clegg, C., & West, M. (2004). On the validity of subjective measures of company performance. Personnel Psychology, 57(1), 95-118 https://doi.org/10.1111/j.1744-6570.2004.tb02485.x
Search via ReFindit
Wang, Ou, W., Hao, & Li, C. (2025). Corporate social responsibility performance and litigation risk. Finance Research Letters, 72(C). /jesi/article/6685
Search via ReFindit
Xiliang, Q., Kuo, Y., Abourehab, M. A., Mabrouk, F., Ramirez-Asis, E., Abdul-Samad, Z., & Makes, N. (2023). The impact of ICT, green finance, and CSR on sustainable financial performance: moderating role of perceived organizational support. Economic Research-Ekonomska Istraživanja, 36(3) https://doi.org/10.1080/1331677X.2022.2151489
Search via ReFindit
Zerbini, F. (2017). CSR initiatives as market signals: A review and research agenda. Journal of Business Ethics, 146(1), 1-23. /jesi/article/6685
Search via ReFindit
Zhang, J., & Liu, Z. (2023). The Impact of Corporate Social Responsibility on Financial Performance and Brand Value. Sustainability, 15(24), 1-20 https://doi.org/10.3390/su152416864
Search via ReFindit
Zheng, L., Balsara, N., & Huang, H. (2014). Regulatory pressure, blockholders and corporate social responsibility (CSR) disclosures in China. Social Responsibility Journal, 10(2), 226-245 https://doi.org/10.1108/SRJ-08-2012-0102
Search via ReFindit
RSS 1.0