Hussain, Aami ; Ahmad, Si i Azno ; Mia, Shahin; Ahmed, Fe doushi; P ommee,
Pa a a
A icle
Rela ionship be ween business in o ma ion, business ne wo king,
access o inance and inancial pe o mance o social en e p ises:
Pe spec i e o esou ce-based iew and signalling heo y
Cogen Business & Managemen
P o ided in Coope a ion wi h:
Taylo & F ancis G oup
Sugges ed Ci a ion: Hussain, Aami ; Ahmad, Si i Azno ; Mia, Shahin; Ahmed, Fe doushi; P ommee,
Pa a a (2024) : Rela ionship be ween business in o ma ion, business ne wo king, access o inance
and inancial pe o mance o social en e p ises: Pe spec i e o esou ce-based iew and signalling
heo y, Cogen Business & Managemen , ISSN 2331-1975, Taylo & F ancis, Abingdon, Vol. 11, Iss. 1,
pp. 1-21,
h ps://doi.o g/10.1080/23311975.2023.2285062
This Ve sion is a ailable a :
h ps://hdl.handle.ne /10419/325890
S anda d-Nu zungsbedingungen:
Die Dokumen e au EconS o dü en zu eigenen wissenscha lichen
Zwecken und zum P i a geb auch gespeiche und kopie we den.
Sie dü en die Dokumen e nich ü ö en liche ode komme zielle
Zwecke e iel äl igen, ö en lich auss ellen, ö en lich zugänglich
machen, e eiben ode ande wei ig nu zen.
So e n die Ve asse die Dokumen e un e Open-Con en -Lizenzen
(insbesonde e CC-Lizenzen) zu Ve ügung ges ell haben soll en,
gel en abweichend on diesen Nu zungsbedingungen die in de do
genann en Lizenz gewäh en Nu zungs ech e.
Te ms o use:
Documen s in EconS o may be sa ed and copied o you pe sonal
and schola ly pu poses.
You a e no o copy documen s o public o comme cial pu poses, o
exhibi he documen s publicly, o make hem publicly a ailable on he
in e ne , o o dis ibu e o o he wise use he documen s in public.
I he documen s ha e been made a ailable unde an Open Con en
Licence (especially C ea i e Commons Licences), you may exe cise
u he usage igh s as speci ied in he indica ed licence.
h ps://c ea i ecommons.o g/licenses/by/4.0/
Cogen Business & Managemen
ISSN: 2331-1975 (Online) Jou nal homepage: www. and online.com/jou nals/oabm20
Rela ionship be ween business in o ma ion,
business ne wo king, access o finance and
financial pe o mance o social en e p ises:
Pe spec i e o esou ce-based iew and signalling
heo y
Aami Hussain, Si i Azno Ahmad, Shahin Mia, Fe doushi Ahmed & Pa a a
P ommee
To ci e his a icle: Aami Hussain, Si i Azno Ahmad, Shahin Mia, Fe doushi Ahmed &
Pa a a P ommee (2024) Rela ionship be ween business in o ma ion, business ne wo king,
access o finance and financial pe o mance o social en e p ises: Pe spec i e o esou ce-
based iew and signalling heo y, Cogen Business & Managemen , 11:1, 2285062, DOI:
10.1080/23311975.2023.2285062
To link o his a icle: h ps://doi.o g/10.1080/23311975.2023.2285062
© 2023 The Au ho (s). Published by In o ma
UK Limi ed, ading as Taylo & F ancis
G oup.
Published online: 12 Dec 2023.
Submi you a icle o his jou nal A icle iews: 3692
View ela ed a icles View C ossma k da a
Ci ing a icles: 5 View ci ing a icles
Full Te ms & Condi ions o access and use can be ound a
h ps://www. and online.com/ac ion/jou nalIn o ma ion?jou nalCode=oabm20
MANAGEMENT | RESEARCH ARTICLE
Rela ionship be ween business in o ma ion,
business ne wo king, access o inance and
inancial pe o mance o social en e p ises:
Pe spec i e o esou ce-based iew and
signalling heo y
Aami Hussain
1
*, Si i Azno Ahmad
2
, Shahin Mia
2
, Fe doushi Ahmed
3,4
and
Pa a a P ommee
3,4
Abs ac : The objec i e o his pape is o explo e he ela ionship be ween business
in o ma ion, business ne wo king, access o inance and inancial pe o mance o
social en e p ises. I b oadens on heo e ical h eads om he pe spec i e o
esou ce-based iew heo y and signalling heo y. Hypo heses a e es ed o assess
he possible e ec o business in o ma ion, business ne wo king, access o inance
as well as inancial pe o mance o social en e p ises. A c oss-sec ional su ey was
conduc ed by using he s anda dized ques ionnai e o collec p ima y da a om
a o al o 384 owne s/di ec o s o social en e p ises. Simple andom sampling
me hod was applied o selec social en e p ises unc ioning in he coun y.
A Pa ial Leas Squa e S uc u al Equa ion Modelling was applied o examine he
da a. This s udy ound a posi i e and signi ican di ec ela ionship be ween busi-
ness in o ma ion, access o inance, and business ne wo king on inancial pe o -
mance o he social en e p ises in Pakis an. The esul s suppo ed he mode a ion
e ec o access o inance on business in o ma ion and inancial pe o mance
whe eas, access o inance does no ha e a signi ican mode a ion impac be ween
business ne wo king and inancial pe o mance. The e o e, his s udy ecommends
ha social en e p ises in Pakis an should p o ide g ea emphasis on business
ne wo king and business in o ma ion o in oduce inancially c ea i e solu ions o
he socie al p oblems, which a e essen ial o o e all wellbeing o di e en s ake-
holde s o he social en e p ises.
Subjec s: Finance; Business, Managemen and Accoun ing; Indus y & Indus ial S udies
Keywo ds: business ne wo king; business in o ma ion; access o inance; inancial
pe o mance; signalling heo y; esou ce-based iew heo y
1. In oduc ion
The e m social en e p ise (SE) is ela i ely new, and o e he cou se o he pas wo decades,
people in se e al egions o he wo ld ha e shown a ising in e es in his sec o (K aus e al.,
2014). The concep o SE was i s ly used in Eu ope du ing he 1980s, bu he e m was no
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 1 o 21
Recei ed: 16 July 2023
Accep ed: 14 No embe 2023
*Co esponding au ho : Aami
Hussain, Uni e si y U a a Malaysia
(UUM), 06010 Sin ok, Kedah, Malaysia
E-mail: aami chaudha y456@gmail.
com
Re iewing edi o :
Rocio Gallego-Losada, Uni e sidad
Rey Juan Ca los - Campus de
Mós oles: Uni e sidad Rey Juan
Ca los, Spain
Addi ional in o ma ion is a ailable a
he end o he a icle
© 2023 The Au ho (s). Published by In o ma UK Limi ed, ading as Taylo & F ancis G oup.
This is an Open Access a icle dis ibu ed unde he e ms o he C ea i e Commons A ibu ion
License (h p://c ea i ecommons.o g/licenses/by/4.0/), which pe mi s un es ic ed use, dis ibu-
ion, and ep oduc ion in any medium, p o ided he o iginal wo k is p ope ly ci ed. The e ms on
which his a icle has been published allow he pos ing o he Accep ed Manusc ip in
a eposi o y by he au ho (s) o wi h hei consen .
ex ensi ely applied un il he 1990s. This ype o business exis s in he hi d sec o , which is si ua ed
be ween ma ke s, go e nmen policies, and public socie ies (De ou ny & Nyssens, 2006). Schola s
and business p o essionals a e becoming mo e and mo e in e es ed in social en e p ise, which is
shown by he inc easing many esea ch ne wo k sys ems and academic o ums in his ield (K aus
e al., 2017). Despi e he ac ha he e is no widely accep ed de ini ion o social en e p ise (Aleg e
e al., 2017). Acco ding o Yunus (2020) SEs may combine social bene i and pe sonal p o i , and
mos ly, i is a combina ion o bo h pe sonal p o i and social bene i .
The e a e wo p ima y schools o hough (Dees & Ande son, 2006). Fi s one, he Social
En e p ise School o Though says ha social en e p ises a e he companies ha a e ocused on
he ma ke and use a s a egy o make money o ul il a social mission. The second one is, The
Social Inno a ion School, says ha social en e p ises a e businesses ha sol e social issues o
mee social needs. The esea che s used he de ini ion o DiDomenico e al. (2010), o his
esea ch, which no only gains a solid epu a ion among academics, bu also appea s o success-
ully combine he wo abo e- men ioned poin s o iew (i.e., Social En e p ise School o Though ).
Based on hese w i e s, SEs a e businesses ha y o each a social goal o se o goals by selling
p oduc s and/o se ices. By doing his, hey hope o be able o suppo hemsel es inancially
wi hou help om he go e nmen o o he dono s. This de ini ion also i s wi h he Eu opean idea
o SE, which is he businesses wi h a social mission and a clea inancial incen i e o doing i .
Social en e p ises (SEs) may combine social bene i and pe sonal p o i , and mos ly, i is
a combina ion o bo h pe sonal p o i and social bene i (Yunus, 2020). SEs a e hose ypes o
o ganiza ions ha possess he cha ac e is ics o he p o i o he businesses and o o ganiza ions
ha a e connec ed o he socie y and communi y. They no mally deal wi h bo h inancial and
social esou ces o gene a e he ac i i ies o he en e p ise and he bene i o he socie y in
a b oade pe spec i e (Some ille & McElwee, 2011).
Mo e and mo e people a e s a ing o ealize ha social en e p ises play a key ole in sol ing
p oblems in socie y by using new app oaches, especially when esou ces and skills a e limi ed
(DiDomenico e al., 2010). The pe o mance o hese en e p ises is low due o c i ical ac o s, lack
o access o inance, lack o business ne wo king (Asad e al., 2016). Business in o ma ion, access
o inance and business ne wo king ha e been seen as aluable esou ces ha inc ease he
inancial pe o mance o a long ime in he business. The ideas o business in o ma ion, access
o inance and business ne wo king s and ou in he exis ing li e a u e. Business ne wo k is a g oup
o businesses ha wo k oge he o achie e hei business goals (Ozcan & Eisenha d , 2009). Mos
o he ime, hese objec i es a e bo h ope a ional as well as s a egic, and business ne wo ks
u ilise hem in acco dance wi h hei posi ion in he compe i i e en i onmen o he ma ke (Fo d
e al., 2014). Business ne wo k is a social business ne wo k ha enables business people o join
and in e ac wi h o he en ep eneu s and execu i es in o de o de elop business in e es s
h ough he o ma ion o mu ually p o i able business connec ions (Soda e al., 2004). Business
ne wo k is one o he s a egically key esou ces ha makes i possible o small businesses o
expand in an en i onmen ha is bo h dynamic and compe i i e in he business wo ld. Business
ne wo ks connec small business owne s and o he owne s o medium and small en e p ises
(SMEs) wi h o he pe sons and companies in o de o gain, sha e, as well as exchange in o ma ion
and esou ces (Machi o i & Fa oki, 2013).
Business in o ma ion is obse ed as one o he e y impo an sou ces in any indus y (Okello-
Obu a e al., 2008). Business in o ma ion has been a e y use ul esou ce in e e y sec o o sub-
sec o s o he economy o he coun y. I was lis ed as he ou h ac o o ou pu . No doub , he
o ganiza ions and he go e nmen s o he de eloped wo ld a e spending a g ea deal on his
achie emen . This is because he collec ion o he ue in o ma ion would lead o he quali y
choices ha will ha e an impac on e enue and o e all pe o mance (Ojo e al., 2015).
Abili y o gain ad an age om bo h in e nal and ex e nal sou ces o inancial suppo , wi h
inancial and non- inancial ba ie s being kep o a minimum o emo ed comple ely. Access o
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 2 o 21
inance plays a ole as an ex e nal esou ce (Anwa e al., 2018). Access o impo an esou ces,
like inance, is one o he mos essen ial and impo an elemen s ha encou age business
ac i i ies in he economy (Xa ie e al., 2013).
In Pakis an, social en ep eneu s ace many p oblems, like lack o business ne wo king, inancial
di icul ies, an insu icien amoun o in o ma ion, bad in as uc u e, and using old echnology. All
o hese hings make i ha d o small businesses o g ow and ul ima ely poo pe o mance
(She azi e al., 2013). In a coun y such as Pakis an, i is s ongly ecommended ha SEs de elop
he awa eness ha will ha e a majo e ec on hei pe o mance (Ahmed e al., 2019). SEs’
pe o mance is in luenced by a wide ange o ac o s, including business in o ma ion, access o
inance and business ne wo king (Anwa e al., 2018; Bha a aia e al., 2019; Casei o & Coelho,
2019). Bu he e is no any e idence on measu ing he impac o business in o ma ion, access o
inance and business ne wo king on he pe o mance, pa icula ly inancial pe o mance o SEs in
Pakis an.
So, he aim o his a icle is o analyse he impac o business in o ma ion, access o inance and
business ne wo king on he inancial pe o mance o SEs in Pakis an. Acco ding o bes knowledge
o he esea che s, his esea ch is he i s academic e o o conduc a comp ehensi e analysis
on he business in o ma ion, access o inance, business ne wo king, and inancial pe o mance o
he SEs in Pakis an.
2. Li e a u e e iew and hypo heses de elopmen
I is ag eed ha he pe o mance is a mul i-dimensional phenomenon (Ge ba & Viswanadham,
2016). P e iously, esea che s ha e used g ow h and success as indica o s ha can be in e -
changeable o business pe o mance (Wiklund & Shephe d, 2005).
Measu ing he pe o mance o SEs migh be use ul in he p ocess o decision-making, as i would
p o ide SEs wi h he in o ma ion, hey need o loca e new oppo uni ies and enhance he e ec-
i eness and p o i abili y o hei ope a ions (A ena & Azzone, 2010; Haide e al., 2017)). SEs a e
in ol ed in a a ie y o business sec o s, including educa ion, se ice sec o s, ag icul u e, heal h, as
well as social se ices; hus, hei o ganiza ional s uc u es a e di e en om one ano he (Al e ,
2004), i may esul in he use o di e en me ics o assessing hei pe o mance (He man & Renz,
1997; Hussain e al., 2023). This esea ch p o ides ele an measu ing dimensions o a SE. I
ocuses speci ically on inancial pe o mance as me hods o measu e pe o mance o he SE.
Bae e al. (2018) ca ied ou a s udy in Sou h Ko ea abou he pe o mance o he social
en e p ises. By using ne wo k cen ali y, esea che s analysed he inancial pe o mance o social
businesses. This s udy measu ed inancial pe o mance by using e u n on sales, g ow h a e o
sale, and g ow h a e o ne p o i . Acco ding o he indings, a social en e p ise ha main ained
a highe deg ee o cen ali y wi hin he ne wo k o equen mee ings was able o p oduce be e
esul s on inancial pe o mance.
Ano he s udy by Cheah e al. (2019) conduc ed in Malaysia and Singapo e. Acco ding o
a esou ce-based pe spec i e, his empi ical esea ch de eloped a amewo k o e alua e he
impac o he mos impo an in e nal o ien ed esou ces, business planning, en ep eneu ial
o ien a ion, as well as social salience on he inancial pe o mance o social en e p ises. This
s udy measu ed inancial pe o mance by using inc ease in e enue, inc ease in sales, and ne
p o i . The indings o his s udy showed ha in e nally o ien ed esou ces ha e a signi ican e ec
on inancial pe o mance.
2.1. Access o inance and pe o mance
Access o inance is de ined as he abili y o indi iduals, households, en ep eneu s, and companies
o access and u ilize a ious inancial se ices i hey choose o do so (Adomako e al., 2016).
Access o Finance inc eases inancial inclusion and con ibu es o he deepening o he inancial
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 3 o 21
sec o and o e all economic g ow h. Access o inance also plays an essen ial ole in he de el-
opmen o Small and Medium En e p ises (SMEs) (Kimani & N oi i, 2015). Mo eo e , he esul s o
p e ious s udies ound ha business in o ma ion o he SMEs inc ease hei access o inancial
esou ces h ough he imely dissemina ion o business in o ma ion ha can be used o ela ed
pa ies, such as banke s o lende s, he eby con incing unde s. Howe e , SMEs wi h business
in o ma ion, ha e good impac on access inance (Mashizha & Sibanda, 2017).
In addi ion, he esul o p e ious s udies ound ha esou ces like business in o ma ion
imp o es he access o inance, he eby imp o ing business pe o mance (Adomako e al., 2016;
Hussain e al., 2018; Kimani & N oi i, 2015).
Acco ding o he abo e-men ioned discussion, he p esen s udy de elops he ollowing
hypo heses.
H1: Access o inance has a posi i e and signi ican e ec on he inancial pe o mance o social
en e p ises in Pakis an.
H4: Access o Finance mode a es he ela ionship be ween business in o ma ion and inancial
pe o mance o social en e p ises in Pakis an.
2.2. Business in o ma ion and pe o mance
Business in o ma ion is obse ed as one o he e y impo an sou ces in any indus y (Okello-
Obu a e al., 2008). A common concep o he in o ma ion is ha i is he da a ha has been
o ganized in such a way ha i becomes meaning ul. I includes a me hod ha is used o c ea e
in o ma ion ha includes ga he ing he da a and hen exposing hem o a p ocess o ans o ma-
ion o c ea e knowledge. The disc epancies be ween good and poo in o ma ion can be ecog-
nized by e alua ing whe he he quali y o he in o ma ion has a ew o all he a ibu es. The
a ibu es can be ele an o he iming, con en , and ype o in o ma ion (Ha dcas le, 2008).
The e is a ac ha using he sou ces o business in o ma ion suppo s he o e all business
pe o mance. Haliso and Okun ulu e (2010) con i ms ha use o business in o ma ion by compa-
nies adds o he compe i i e edge ha is equi ed o suppo hei en e p ise. Simila ly, Okello-
Obu a e al. (2008) men ioned ha business in o ma ion has become a leading sou ce and elies
on handling and usage. Keh e al. (2007) e ealed ha he e was a signi ican and a posi i e
ela ion be ween in o ma ion use and he pe o mance o SMEs. Moo hy e al. (2012) also
suppo ed we e exposed ha he e is also a posi i e and a signi ican ela ion be ween usage o
ma ke ing in o ma ion as well as he pe o mance o he small medium en e p ises in Malaysia.
A s udy conduc ed by Xiaoqing e al. (2019) o see he ela ionship o in o ma ion, adi ional
social ac i i y, gende , and educa ion on he pe o mance o he small businesses in China. This
esea ch measu ed business in o ma ion by ca ego ized in o i e s akeholde s, supplie in o ma-
ion, go e nmen in o ma ion, dis ibu o cus ome , compe i o in o ma ion as well as socie y
ela ed in o ma ion. The indings o he esea ch showed ha in o ma ion abou go e nmen as
well as policies o he indus y has a posi i e and subs an ial e ec on he pe o mance. Mo eo e ,
gende as well as educa ion ha e mode a ing impac s on he ela ion be ween in o ma ion and
pe o mance in a small i m.
Acco ding o he exis ing li e a u e, his esea ch a emp s o de elop he ollowing hypo heses o
ecognize he impac s o business in o ma ion on he inancial pe o mance (FP) o he SEs in Pakis an.
Bunyasi e al. (2014) desc ibed in hei esea ch on he e ec s o accessing business in o ma ion on
he inancial pe o mance o small medium en e p ises ha access o business in o ma ion has
a signi ican e ec on pe o mance o small medium en e p ises. Nguyen e al. (2022) desc ibed
a posi i e ela ion be ween social ac i i ies and inancial pe o mance. Jamaludin e al. (2022) and
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 4 o 21
obse ed a posi i e impac on pe o mance. Mo eo e , he esea ch conduc ed by Oko o e al. (2019)
demons a ed ha business in o ma ion has a subs an ial and a ou able impac on he pe o mance
o MSMEs. The au ho s e en ually desc ibed based on he da a ha BI enhances he pe o mance.
The e o e, in he ligh o p e ious discussion, his esea ch de elops he ollowing hypo heses.
H2: Business in o ma ion has a posi i e and signi ican e ec on he inancial pe o mance o
social en e p ises in Pakis an.
2.3. Business ne wo king and pe o mance
The ne wo k o SEs and social en ep eneu s can play a i al ole in communica ing bes p ac ices.
They ie social companies o o he o ganiza ions, wi h simila ea u es and goals o help o
es ablish a pla o m o coope a ion and assis ing in he sp ead o people and ideas (DCMS &
BEIS, 2017). When con ac o s begin o plan a new p ojec and a aining in o ma ion, lea ning new
skills, ools, and business connec ions, hey need o mobilize a b oade social ne wo k and in ol e
people, hey may need in he u u e and mos likely be pa o he p epa a ion p ocess (G e e,
2003). A signi ican co ela ion be ween business ne wo king and pe o mance was ound in some
p e ious s udies (Cisi e al., 2016; Kim & Lee, 2018; Zacca e al., 2015). Ano he s udy was done in
Pakis an o see he ela ionship be ween business ne wo king and pe o mance o small en e -
p ises and ound a posi i e and signi ican ela ion be ween hem (Asad e al., 2016).
Mlo shwa (2019) pe o med esea ch in Sou h A ica. This s udy explained he ela ion be ween
business ne wo king, social ne wo king, manage ial ne wo king, and pe o mance. This s udy
measu ed business ne wo king by ca ego ized in o six s akeholde s, ela ionships wi h go e nmen
agencies, ela ions wi h you compe i o s, ela ions wi h supplie s, and ela ions wi h cus ome s,
membe o associa ion, and pa icipa ion in ade ai s and semina s. Acco ding o he esul s o
he esea ch, business ne wo king and manage ial ne wo king managemen ha e a posi i e e ec
on business pe o mance. Ne wo king ac i i ies help o ga he en i onmen al change in o ma ion
quicke and o espond o changes o ex e nal esou ces. Thus, he inancial pe o mance can be
a ec ed by in e ac ions in he socie y and business ne wo king ha e a posi i e and signi ican
e ec on he pe o mance o SEs (Cho & Kim, 2017).
ALI and LI (2021) conduc ed a s udy in China and desc ibed ha ne wo king posi i ely e ec on he
inancial pe o mance o social en e p ises. Ano he s udy was conduc ed in B azil by (dos San os
e al. (2021) and ound a posi i e and signi ican impac on ne wo king and inancial pe o mance.
Bae e al. (2018) ca ied ou a s udy in Sou h Ko ea abou he ne wo king and inancial pe o mance
o he social en e p ises. They ound a posi i e and subs an ial ela ion be ween business ne wo king
and inancial pe o mance o he SEs. A s udy was conduc ed in Pakis an and desc ibed ha business
ne wo king has a mode a ed e ec on pe o mance o small en e p ises (Asad e al., 2016). Acco ding
o Canning and Szmigin (2016) desc ibed ha imp o ing ne wo k expe ise enables en ep eneu s o
gain access o he i al ools owned by o he s o achie e he be e pe o mance o he indus y. So,
his esea ch de elops he ollowing hypo hesis.
H3: Business ne wo king has a posi i e and signi ican e ec on he inancial pe o mance o
social en e p ises in Pakis an.
Business ne wo king play a posi i e ole o s eng hen and boos he ela ionship be ween access
o inance and pe o mance o MSEs (Wales e al., 2013). The ole o access o inance helps he
small en e p ises o pe o m be e han hose MSEs ha ha e ce ain issues accessing inance
(Newman e al., 2014). Thus, hese s udies indica e a posi i e ela ionship be ween access o
inance and pe o mance o MSEs. Bu on he o he hand, a ew s udies con adic he exis ence
o posi i e ela ionship be ween access o inance and pe o mance o MSEs (Mochona, 2006; Thio
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 5 o 21
e al., 2006). Le and Nguyen (2009) desc ibed a s udy in Vie nam and sugges ha he ela ionship
be ween business ne wo king wi h supplie s and social ies and access o inance and SMEs g ow h
ha e insigni ican .
A s udy was conduc ed in he Bu alo Ci y Municipali y in he Eas e n Cape P o ince o Sou h
A ica by Le oy (2012). This s udy in es iga es he impac o ne wo king on access o inance and
pe o mance o small and medium en e p ises (SMEs). The objec i es o his s udy a e o examine
whe he ne wo king is ela ed o access o inance and pe o mance. The esul s e eal ha he e
is a posi i e ela ionship be ween ne wo king and access o inance and pe o mance o SMEs. The
esul s o his s udy u he e eal ha access o inance pa ially media es he ela ionship
be ween ne wo king and pe o mance o SMEs. Acco ding o he abo e-men ioned discussion,
his s udy de elops he ollowing hypo hesis.
H5: Access o Finance mode a es he ela ionship be ween business ne wo king and inancial
pe o mance o social en e p ises in Pakis an.
2.4. Suppo ing heo ies
The esou ce-based iew (RBV) and he signalling heo y suppo ed as he ounda ion o he de el-
opmen o his esea ch amewo k. I is p esumable ha he pe o mance will be a ec ed by he
independen a iables in his piece o w i ing, which is suppo ed by he esou ce-based iew heo y. In
addi ion, he connec ion be ween in o ma ion abou a company’s ope a ions and he pe o mance o
hose ope a ions is equen ly hough o be mo e consis en wi h he signalling heo y.
The esou ce-based iew, also known as he RBV heo y, has eme ged as one o he mos
p ominen pe o mance heo ies. In oday’s business wo ld, he esou ce-based iew heo y is
widely ega ded as one o he mos impac ul schools o hough conce ning en ep eneu ship
(Ba ney & Ba ney, 1991). In he pe o mance o he social en e p ises indus y, he esou ce-based
iew has been a equen ly discussed (Dees, 1998). Fo example, he wo ks o Lee (2018); Liu e al.
(2015) and Liu e al. (2014) a e ew empi ical s udies in he a ea o social en e p ises ha also
applied he RBV heo y. I is essen ial ha he ac ha no all esou ces ha e a signi ican e ec
on o ganiza ional pe o mance be aken in o accoun . Some o he esou ces ha a e u ilized and
con olled by he company, speci ically hose esou ces ha a e aluable, a e, inimi able, and
non-subs i u able (VRIN), ha e he abili y and po en ial o de elop he compe i i e ad an age,
which esul s in be e pe o mance (Ba ney & Ba ney, 1991).
Ba ney and Ba ney (1991) gi es a mo e de ail desc ip ion o a company’s esou ces, which
includes physical, human, and o ganiza ional esou ces in addi ion o o he ypes o esou ces.
In angible esou ces o he company include hings like human capi al and o ganiza ional s uc-
u e, whe eas angible esou ces include hings like in en o y and machine y. Mos o he esea ch
on RBV has ocused on in angible asse s like business in o ma ion and business ne wo king
(Sample , 1998). In o ma ion is one o he mos aluable esou ces o any o ganiza ion (Sha iee
& Moqadam, 2017). Access o inance plays a ole as an ex e nal esou ce (Anwa e al., 2018).
Business ne wo ks a e composed o in angible esou ces, and small businesses enhance hei
pe o mance in a highly compe i i e ma ke by le e aging hese in angible esou ces (Machi o i
& Fa oki, 2013). A be e and mo e ex ensi e use o ne wo king ac i i ies in SEs leads o excellen
pe o mance (Squazzoni, 2009).
Signaling heo y is used o s eng hen he link be ween in o ma ion abou a business and
pe o mance. Signaling heo y is use ul o igu ing ou he beha iou o wo pa ies (indi iduals
and o ganiza ions) which ecei e he in o ma ion (Ce o e al., 2011). Signaling heo y examines
he link be ween signals and hei quali ies, which explains why some signals a e accu a e and
o he signals a e no (Dona h, 2007). Business in o ma ion has a posi i e and signi ican e ec on
businesses and helps hem o inc ease he pe o mance (Asi e al., 2021; Keh e al., 2007).
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 6 o 21
Companies can inc ease he pe o mance i hey ha e access o he igh in o ma ion (Bendoly &
Swink, 2007).
The p oposed ela ionship among he a iables in his s udy can be p esen ed in a g aphical
o ma as below (Figu e 1).
3. Me hodology
3.1. Su ey design, sample size and sampling echnique
In o de o compile he p ima y da a and ensu e ha he esea ch was success ul in achie ing i s goals, i
was designed and ca ied ou as a c oss-sec ional su ey. The o ganiza ion, and mo e speci ically he
social businesses ha a e egis e ed in Pakis an, se es as he uni o analysis o his pa icula esea ch.
The su ey was ca ied ou comple ely online ac oss he en i e coun y o Pakis an.
The pa icipan s in his s udy a e Pakis ani o ganiza ions ha a e o icially ecognized as social
en e p ises. The majo i y o SEs in Pakis an a e ound in he in o mal sec o . In Pakis an, he e a e
app oxima ely 3.2 million companies ha ha e been o icially egis e ed; howe e , e y close o
90 pe cen o hese companies i he de ini ion o a small business (SMEDA, 2018). Howe e , he
numbe o SEs is no epo ed in any eco d ha has been made public by he go e nmen . The
numbe o egis e ed SEs can only be ound in he epo ha was pu ou by he B i ish Council
(2016), which s a es ha he e a e 448,203 o ganiza ions. This esea ch es ima es he sample size
using he able de eloped by K ejcie and Mo gan (1970) based on he da a p esen ed he e. This
esea ch decided o employ a sample size o 384.
The lis o he da a compiled om a ious sou ces, including (PPAF, SMEDA, SECP, NRSP, and he
B i ish Council in Pakis an), as well as om he Wha sApp communi y g oups o SE owne s and
manage s which was made by B i ish Council du ing he p og amme o “The S a e o Social
En e p ise in Pakis an”. In his esea ch, a simple andom sampling echnique was applied. Each
pe son in a popula ion has an equal chance o being chosen o a sample ha is d awn a andom
om ha popula ion. A popula ion ha is bo h small and homogenous is p e e able i i can be
achie ed. The andom numbe s ha we e collec ed will se e as he basis o selec ing he a ious
componen s. When he sample size is low, i is simple o calcula e, bu i becomes imp ac ical
when he sample size is high. Mo eo e , Beh and Sha ique (2016) s a ed ha The e was a esponse
a e o 46% om he Pakis ani small businesses. The numbe o businesses ha we e included in
his s udy’s sample was inc eased o 700 in o de o achie e a high le el o pa icipa ion and
educe he in luence o he non- esponse e o (Salkind, 2012).
H4 H1
H2
5H
3H
Business
In o ma ion
Access o
Finance
Business
Ne wo king
Financial
Pe o mance
Figu e 1. Resea ch amewo k.
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 7 o 21
In addi ion, he p esen s udy ound a posi i e and s a is ically subs an ial ela ion be ween busi-
ness ne wo king and inancial pe o mance in social en e p ises. This inding lends suppo o hypo h-
esis numbe wo (H2). Acco ding o he esea ch esul s, an app op ia e le el o business ne wo king in
social en e p ises could lead o enhancemen s in he inancial pe o mance o he social en e p ises.
P e ious esea ch has ound a posi i e and signi ican ela ionship be ween social en e p ise business
ne wo king and inancial pe o mance (Ali & Li, 2021; Bae e al., 2018; dos San os e al., 2021).
Mo eo e , his s udy has a posi i e and signi ican ela ion be ween access o inance and
inancial pe o mance. This suppo s o he hi d hypo hesis (H3). This implies ha access o
inance is impo an me ic o social en e p ises. The indings o his s udy a e suppo ed by
o he s udies conduc ed in di e en con ex s (Cecche i & Kha oubi, 2015; Fowowe, 2017).
Howe e , inance is a majo p oblem in de eloping and eme ging economies due o he lack o
enough in e nal esou ces o he s a -up o he en e p ise. So, hey need o ake inance om any
ex e nal sou ce such as banks o amily membe s.
Addi ionally, a posi i e and s a is ically signi ican mode a ion impac o access o inance was
ound o ha e on he ela ionship be ween business in o ma ion and inancial pe o mance o he
social en e p ises. I signi ies he con i ma ion o hypo hesis ou (H4). The indings indica e ha he
mode a ion impac o access o inance can make a signi ican con ibu ion o he social en e p ises.
The s udies by Hussain e al. (2018) and Adomako e al. (2016) also epo ed simila indings. Las ly,
he mode a ion e ec o access o inance on he ela ionship be ween business ne wo king and
inancial pe o mance o social en e p ises ound insigni ican indica ion which means hypo hesis i e
(H5) is ejec ed. The s udy o Le and Nguyen (2009) also epo ed simila indings.
8. Conclusion
In ligh o he esul s o his s udy, he esea che s a e in a posi ion o gi e esponses o esea ch
ques ions in he ollowing o de : Acco ding o he indings o ou esea ch, he inancial pe o -
mance o SEs in Pakis an is signi ican ly in luenced by he ex en o which hey engage in business
ne wo king. In addi ion o ha , he impo ance o business in o ma ion o he o e all inancial
pe o mance o social en e p ises is b ough o ligh in his a icle as well. Acco ding o he indings
and esul s o he esea ch, business ne wo king is likely esponsible o a sizeable po ion o he
inancial pe o mance achie ed by social en e p ises in Pakis an. This esea ch also ound ha
ha ing a easonable numbe o ne wo king can pe o m a e y i al ole in imp o ing he inancial
pe o mance o SEs. In a simila ein, he indings o his pape indica ed ha business in o ma ion
has a subs an ial and posi i e impac on he inancial pe o mance o Pakis ani SEs. Likewise,
access o inance has a posi i e and signi ican e ec on he inancial pe o mance o SEs in
Pakis an. The indings o his s udy may p o ide a be e knowledge and unde s anding ega ding
he business ne wo king, access o inance and business in o ma ion in social en e p ises, all o
which can in luence he imp o emen o he inancial pe o mance o social en e p ises in
Pakis an. These indings b oaden he applica ion o he RBV o social en e p ises and demons a e
how hese esou ces like business ne wo king, access o inance and business in o ma ion can be
u ilized o imp o e he magni ude o he inancial impac .
In addi ion, he empi ical indings o his esea ch can be help ul o he op managemen o
social en e p ises o make s ong decisions and p oduce goods and se ices in o de o gi e
supe io suppo o hei cus ome s. In conclusion, he indings o his esea ch may be help ul
o policymake s, go e nmen egula o s, and o he ele an pa ies in he design as well as
implemen a ion o mo e e ec i e policies and egula ions o inc eased business ne wo king,
access o inance and business in o ma ion in o de o con i m he long- e m imp o emen o
Pakis ani social en e p ises.
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 14 o 21
8.1. Limi a ions and u u e esea ch ecommenda ions
The pa icipan s in his esea ch come om di e en social en e p ises in Pakis an; howe e , hey
need o b oaden hei scope and look a o he indus ies as well. This esea ch is app op ia e only
o SEs ope a ing in less de eloped coun ies. In o de o widen he scope o his s udy, i should
ha e been ca ied ou by SEs om low-income coun ies all o e he wo ld. This esea ch is only
limi ed o SEs o de eloping coun ies like Pakis an. So, he esul s o his esea ch canno be
gene alized o he whole SEs and may a y in de eloped coun ies due o hei di e en cul u al
backg ounds, di e en socio-economic condi ions.
Au ho de ails
Aami Hussain
1
E-mail: [email p o ec ed]
Si i Azno Ahmad
2
Shahin Mia
2
Fe doushi Ahmed
3,4
Pa a a P ommee
3,4
1
Finance Depa men , Uni e si y U a a Malaysia (UUM),
Sin ok, Kedah, Malaysia.
2
School o Economics, Finance and Banking (SEFB),
Uni e si y U a a Malaysia (UUM), Sin ok, Kedah,
Malaysia.
3
Facul y o Economics, P ince o Songkla Uni e si y (PSU),
Ha Yai, Songkhla, Thailand.
4
Economics Depa men , Resea ch Cen e o
Fundamen al Economic De elopmen and Ag icul u al
Economic Po en ial in he Sou h Region, Ha Yai,
Songkhla, Thailand.
Disclosu e s a emen
No po en ial con lic o in e es was epo ed by he
au ho (s).
Ci a ion in o ma ion
Ci e his a icle as: Rela ionship be ween business in o -
ma ion, business ne wo king, access o inance and
inancial pe o mance o social en e p ises: Pe spec i e o
esou ce-based iew and signalling heo y, Aami Hussain,
Si i Azno Ahmad, Shahin Mia, Fe doushi Ahmed & Pa a a
P ommee, Cogen Business & Managemen (2024), 11:
2285062.
Re e ences
Abbas, J., Raza, S., Nu unnabi, M., Minai, M. S., & Bano, S.
(2019). The impac o en ep eneu ial business ne -
wo ks on i ms’ pe o mance h ough a media ing
ole o dynamic capabili ies. Sus ainabili y, 11(11),
3006. h ps://doi.o g/10.3390/su11113006
Adomako, S., Danso, A., & O o i Damoah, J. (2016). The
mode a ing in luence o inancial li e acy on he
ela ionship be ween access o inance and i m
g ow h in Ghana. Ven u e Capi al, 18(1), 43–61.
h ps://doi.o g/10.1080/13691066.2015.1079952
Aguinis, H., Bea y, J. C., Boik, R. J., & Pie ce, C. A. (2005).
E ec size and powe in assessing mode a ing
e ec s o ca ego ical a iables using mul iple
eg ession: A 30-yea e iew. Jou nal o Applied
Psychology, 90(1), 94–107. h ps://doi.o g/10.1037/
0021-9010.90.1.94
Ahmed, V., Nazi , A., G ego y, D., Fa az, Z., Ace, T.,
Nabil, Y., & Agyeben, M. (2019). Social en e p ise
de elopmen in Pakis an:Way o wa d. B i ish Council,
De elopmen Inclusi e and c ea i e Economics.
Aleg e, I., Kislenko, S., & Be begal-Mi aben , J. (2017).
O ganized chaos: Mapping he de ini ions o social
en ep eneu ship. Jou nal o Social En ep eneu ship,
8(2), 248–264. h ps://doi.o g/10.1080/19420676.
2017.1371631
Ali, H., & Li, Y. (2021). Financial li e acy, ne wo k compe-
ency, and smes inancial pe o mance: The
mode a ing ole o ma ke o ien a ion. The Jou nal o
Asian Finance, Economics & Business, 8(10), 341–352.
Al e , K. S. (2004). Social en e p ise ypology. Vi ue
Ven u es, LLC. h p://www. i ue en u es.com
Anwa , M., Shah, S. Z. A., & Khan, S. Z. (2018). The ole o
pe sonali y in SMEs in e na ionaliza ion: Empi ical
e idence. Re iew o In e na ional Business & S a egy,
28(2), 258–282. h ps://doi.o g/10.1108/RIBS-12-
2017-0113
A ena, M., & Azzone, G. (2010). P ocess based app oach o
selec key sus ainabili y indica o s o s eel
companies. I onmaking and S eelmaking, 37(6),
437–444. h ps://doi.o g/10.1179/
030192310X12690127076433
Asad, M., Sha i , M. N., & ALekam, J. M. (2016). Mode a ing
ole o en ep eneu ial ne wo king on he ela ion-
ship be ween en ep eneu ial o ien a ion and pe -
o mance o MSEs in Punjab Pakis an. Science
In e na ional, 28(2), 1551–1556.
Asad, M., Sha i , M. N. M., & Alekam, J. M. E. (2016).
Mode a ing e ec o en ep eneu ial ne wo king on
he ela ionship be ween access o inance and pe -
o mance o mic o and small en e p ises. Pa adigms,
10(1), 01–13. h ps://doi.o g/10.24312/
pa adigms100101
Asad, M., Sha i , M. N., & Ha eez, M. (2016). Mode a ing
e ec o ne wo k ies on he ela ionship be ween
en ep eneu ial o ien a ion, ma ke o ien a ion,
and pe o mance o MSEs. Pa adigms: A Resea ch
Jou nal o Comme ce, Economics, and Social
Sciences, 10(2), 69–76. h ps://doi.o g/10.24312/
pa adigms100207
Asi , M. U., Asad, M., Kashi , M., & Haq, A. U. (2021).
Knowledge exploi a ion and knowledge explo a ion
o sus ainable pe o mance o SMEs. 2021 Thi d
In e na ional Sus ainabili y and Resilience
Con e ence: Clima e Change (pp. 29–34). Sakhee :
IEEE. h ps://doi.o g/10.1109/IEEECONF53624.2021.
9668135
Bae, J., Cho, H. S., & Caplan, M. A. (2018). Ne wo k cen-
ali y and pe o mance o social en e p ises:
Go e nmen ce i ied social en e p ises in Seoul,
Sou h Ko ea. Asian Social Wo k & Policy Re iew, 12(2),
75–85. h ps://doi.o g/10.1111/aswp.12140
Baka , S. A., Sulaiman, M., & Osman, I. (2014). Explo ing
he ela ionship be ween business ac o and pe -
o mance in he Malaysian halal bio echnology SMEs
con ex . P ocedia-Social and Beha io al Sciences, 121,
243–252. h ps://doi.o g/10.1016/j.sbsp o.2014.01.
1125
Ba ney, & Ba ney, J. (1991). Fi m esou ces and sus ained
compe i i e ad an age. Jou nal o Managemen , 17
(1), 99–120. h ps://doi.o g/10.1177/
014920639101700108
Beh, L. S, & Sha ique. (2016). The nexus be ween ans-
o ma ional leade ship and co po a e en ep eneu -
ship: The media ing ole o abso p i e capaci y.
T ansyl anian Re iew, (3).
Bendoly, E., & Swink, M. (2007). Mode a ing e ec s o
in o ma ion access on p ojec managemen
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 15 o 21
beha iou , pe o mance and pe cep ions. Jou nal o
Ope a ions Managemen , 25(3), 604–622. h ps://doi.
o g/10.1016/j.jom.2006.02.009
Bha a aia, C. R., Kwong, C. C., & Tasa o i, M. (2019).
Ma ke o ien a ion, ma ke dis up i eness capabili y
and social en e p ise pe o mance: An empi ical
s udy om he Uni ed Kingdom. Jou nal o Business
Resea ch, 96, 47–60. h ps://doi.o g/10.1016/j.jbus es.
2018.10.042
Boone, C., Ol en, W. V., & Wi eloos uijn, A. V. (2005).
Team locus-o -con ol composi ion, leade ship
s uc u e, in o ma ion acquisi ion, and inancial pe -
o mance: A business simula ion s udy. Academy o
Managemen Jou nal, 48(5), 889–909. h ps://doi.o g/
10.5465/amj.2005.18803929
B i ish Council. (2016). The s a e o social en e p ise in
Bangladesh,Ghana, India and Pakis an’The s a e o
social en e p ise in Pakis an. B i ish Council Pakis an
O ice.
Buck owa , R., Kocak, A., & Padachi, K. (2015).
En ep eneu ial o ien a ion, ma ke o ien a ion and
ne wo king: Impac on inno a ion and i m
pe o mance. Jou nal o De elopmen al
En ep eneu ship, 20(4), 1550024. h ps://doi.o g/10.
1142/S1084946715500247
Bunyasi, W. G., Bwisa, H., & Namusonge, G. (2014). E ec
o access o business in o ma ion on he g ow h o
small and medium en e p ises in Kenya.
In e na ional Jou nal o Business & Social Science, 5
(1), 10.
Canning, L., & Szmigin, I. (2016). Radical inno a ion, ne -
wo k compe ence and he business o body disposal.
Jou nal o Business & Indus ial Ma ke ing, 31(6),
771–783. h ps://doi.o g/10.1108/JBIM-05-2014-
0110
Casei o, N., & Coelho, A. (2019). The in luence o business
in elligence capaci y, ne wo k lea ning and inno a-
i eness on s a ups pe o mance. Jou nal o
Inno a ion & Knowledge, 4(3), 139–145. h ps://doi.
o g/10.1016/j.jik.2018.03.009
Cecche i, S. G., & Kha oubi, E. (2015). Why does inancial
sec o g ow h c owd ou eal economic g ow h?
A ailable a SSRN 2615882. h ps://www.bis.o g/publ/
wo k490.pd
Ce o, T. S., Connenly, B. L., I eland, D. R., & Reu zel, C. R.
(2011). Signaling heo y: A e iew and sssessmen .
The Jou nal o Managemen , 37(1), 39–67. h ps://doi.
o g/10.1177/0149206310388419
Cha ez, R., Yu, W., Gimenez, C., Fynes, B., & Wienga en, F.
(2015). Cus ome in eg a ion and ope a ional pe -
o mance: The media ing ole o in o ma ion quali y.
Decision Suppo Sys ems, 80, 83–95. h ps://doi.o g/
10.1016/j.dss.2015.10.001
Cheah, J., Am an, A., & Yahya, S. (2019). In e nal o ien ed
esou ces and social en e p ises’ pe o mance: How
can social en e p ises help hemsel es be o e help-
ing o he s? Jou nal o Cleane P oduc ion, 211,
607–619. h ps://doi.o g/10.1016/j.jclep o.2018.11.
203
Chiwa e, T. E. (2008). Business in o ma ion needs, seeking
pa e ns and in o ma ion se ices in he small, med-
ium and mic o en e p ises sec o (SMME) in Namibia
[Doc o al disse a ion, Uni e si y o P e o ia].
Cho, S., & Kim, A. (2017). Rela ionships be ween en e-
p eneu ship, communi y ne wo king, and economic
and social pe o mance in social en e p ises:
E idence om Sou h Ko ea. Human Se ice
O ganiza ions, Managemen , Leade ship &
Go e nance, 41(4), 376–388. h ps://doi.o g/10.1080/
23303131.2017.1279094
Cisi, M., De icien i, F., Manello, A., & Vannoni, D. (2016).
The impac o o mal ne wo king on he pe o mance
o SME’s. ISSN, 1–35.
DCMS, & BEIS. (2017). Social en e p ise: Ma ke ends.
Depa men o Digi al, Cul u e, Media and Spo -
Depa men o Business, Ene gy and Indus ial
S a egy.
Dees, G. J. (1998). En e p ising nonp o i . Ha a d Business
Re iew, 6(1), 55–69.
Dees, G. J., & Ande son, B. B. (2006). F aming a heo y o
social en ep eneu ship: Building on wo schools o
p ac ice and hough . Resea ch on Social
En ep eneu ship: Unde s anding and Con ibu ing o
an Eme ging Field, 1(3), 39–66.
De ou ny, J., & Nyssens, M. (2006). De ining social en e -
p ise. In M. Nyssens (Ed.), Social en e p ise: A he
c oss oads o ma ke , public policies and ci il socie y
(pp. 3–27). Rou ledge Taylo & F ancis G oup.
DiDomenico, M., Haugh, H., & T acey, P. (2010). Social
b icolage: Theo izing social alue c ea ion in social
en e p ises. En ep eneu ship Theo y and P ac ice, 34
(4), 681–703. h ps://doi.o g/10.1111/j.1540-6520.
2010.00370.x
Dona h, J. (2007). Signals in social supe ne s. Jou nal o
Compu e -Media ed Communica ion, 13(1), 231–251.
h ps://doi.o g/10.1111/j.1083-6101.2007.00394.x
dos San os, J. A., Roldan, L. B., & Loo, M. K. L. (2021).
Cla i ying ela ionships be ween ne wo king, abso p-
i e capaci y and inancial pe o mance among
Sou h B azilian a me s. Jou nal o Ru al S udies, 84,
90–99. h ps://doi.o g/10.1016/j.j u s ud.2021.02.011
Dzomonda, O. (2022). En i onmen al sus ainabili y com-
mi men and access o inance by small and medium
en e p ises: The ole o inancial pe o mance and
co po a e go e nance. Sus ainabili y, 14(14), 8863.
h ps://doi.o g/10.3390/su14148863
Fo d, D., Gadde, L. E., Håkansson, H., Lundg en, A.,
Sneho a, I., Tu nbull, P., & Wilson, D. (2014).
Indus ial Ma ke ing and pu chasing g oup. Managing
business ela ionships. Wiley.
Fo nell, C., & La cke , F. D. (1981). S uc u al equa ion
models wi h unobse able a iables and measu e-
men e o . Algeb a and S a is ics; Sage Publica ions.
Fowowe, B. (2017). Access o inance and i m pe o -
mance: E idence om A ican coun ies. Re iew o
De elopmen Finance, 7(1), 6–17. h ps://doi.o g/10.
1016/j. d .2017.01.006
Gali, N., Niemand, T., Shaw, E., Hughes, M., K aus, S., &
B em, A. (2020). Social en ep eneu ship o ien a ion
and company success: The media ing ole o social
pe o mance. Technological Fo ecas ing and Social
Change, 160, 120230. h ps://doi.o g/10.1016/j. ech
o e.2020.120230
Ge ba, Y., & Viswanadham, P. (2016). Pe o mance mea-
su emen o small-scale en e p ises: Re iew o he-
o e ical and empi ical li e a u e. In e na ional
Jou nal o Applied Resea ch, 2(3), 531–535.
Gold, A. H., Malho a, A., & Sega s, A. H. (2001).
Knowledge managemen : An o ganiza ional capabil-
i ies pe spec i e. Jou nal o Managemen In o ma ion
Sys ems, 18(1), 185–214. h ps://doi.o g/10.1080/
07421222.2001.11045669
Go la, N., Some s, T. M., & Wong, B. (2010). O ganiza ional
impac o sys em quali y, in o ma ion quali y, and
se ice quali y. Jou nal o S a egic In o ma ion
Sys ems, 19(3), 207–228. h ps://doi.o g/10.1016/j.
jsis.2010.05.001
G e e, A. (2003). Social ne wo k and En ep eneu ship.
En ep eneu ship Theo y and P ac ice, 28(1), 1–22.
h ps://doi.o g/10.1111/1540-8520.00029
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 16 o 21
Haide , S. H., Asad, M., Fa ima, M., & A iq, H. (2017).
Media ing ole o oppo uni y ecogni ion be ween
c edi , sa ings and pe o mance o mic o and small
en e p ises in Pakis an. Jou nal o Ad anced Resea ch
in Business and Managemen S udies, 7(2), 91–99.
Hai , S., & Ringle, G. (2017). Ad anced issues in pa ial
leas squa es s uc u al equa ion modeling. sage
publica ions.
Haliso, Y., & Okun ulu e, O. (2010). In o ma ion sou ces
u iliza ion and job pe o mance o wo ke s in MTN
Ibadan, Nige ia. In e na ional Resea ch Jou nal in
In o ma ion Resou ces and Knowledge Managemen ,
1(1), 42–53.
Ha dcas le, E. (2008). Business in o ma ion Sys ems.
Ven us Publishing.
Hensele , J., Ringle, C. M., & Sinko ics, R. R. (2009). The use
o pa ial leas squa es pa h modeling in
In e na ional Ma ke ing. New Challenges o
In e na ional Ma ke ing, 20, 277–319. h ps://doi.o g/
10.1108/S1474-7979(20)09000-0020014
He man, R. D., & Renz, D. O. (1997). Mul iple cons i uen-
cies and he social cons uc ion o nonp o i o gani-
za ion e ec i eness. Nonp o i and Volun a y Sec o
Qua e ly, 26(2), 185–206. h ps://doi.o g/10.1177/
0899764097262006
Huang, H.-C., Lai, M.-C., & Lo, K.-W. (2012). Do ounde s’
own esou ces ma e he in luence o business ne -
wo ks on s a -up inno a ion and pe o mance.
ELSEVIER Techno a ion.
Hussain, A., Ahmad, S. A., & Mia, M. S. (2023).
A sys ema ic li e a u e e iew on pe o mance o
social en e p ises. Cogen Economics & Finance, 11
(2), 2269738. h ps://doi.o g/10.1080/23322039.
2023.2269738
Hussain, J., Salia, S., & Ka im, A. (2018). Is knowledge ha
powe ul? Financial li e acy and access o inance: An
analysis o en e p ises in he UK. Jou nal o Small
Business and En e p ise De elopmen , 25(6),
985–1003. h ps://doi.o g/10.1108/JSBED-01-2018-
0021
Jamaludin, M., Bus homi, H., Gan ika, S., Rosid, A.,
Suna ya, E., & Nu , T. (2022). Ma ke o ien a ion and
SCM s a egy on SME o ganiza ional pe o mances:
The media ing e ec o ma ke pe o mance. Cogen
Economics & Finance, 10(1), 2157117. h ps://doi.o g/
10.1080/23322039.2022.2157117
Keh, H. T., Nguyen, T. T. M., & Ng, H. P. (2007). The e ec s
o en ep eneu ial o ien a ion and ma ke ing in o -
ma ion on he pe o mance o SMEs. Jou nal o
Business Ven u ing, 22(4), 592–611. h ps://doi.o g/
10.1016/j.jbus en .2006.05.003
Kenny, D. A. (2018). Mode a ion. h ps://da idakenny.ne /
cm/mode a ion.h m
Khan, A. A., Asad, M., Khan, G. U., Asi , M. U., & A ab, U.
(2021). Sequen ial media ion o inno a i eness and
compe i i e ad an age be ween esou ces o
business model inno a ion and SMEs pe o mance.
2021 In e na ional Con e ence on Decision Aid
Sciences and Applica ion (DASA) (pp. 724–728).
Sakhee : IEEE. h ps://doi.o g/10.1109/DASA53625.
2021.9682269
Kimani, P. M., & N oi i, J. (2015). E ec s o inancial li -
e acy on pe o mance o you h led en ep ises:
A case o equi y g oup ounda ion aining p og am
in kiambu coun y. In e na ional Jou nal o Social
Science Managemen and En ep eneu ship, 2(1),
2018–2231.
Kim, C., & Lee, J. (2018). The e ec o ne wo k s uc u e
on pe o mance in Sou h Ko ea SMEs: The mode a -
ing e ec s o abso p i e capaci y. Sus ainabili y, 10
(9), 3174. h ps://doi.o g/10.3390/su10093174
Kline, R. B. (2015). P inciples and p ac ice o s uc u al
equa ion modeling. Guil o d publica ions.
K aus, S., Filse , M., O’Dwye , M., & Shaw, E. (2014). Social
en ep eneu ship: An explo a o y ci a ion analysis.
Re iew o Manage ial Science, 8(2), 275‒292. h ps://
doi.o g/10.1007/s11846-013-0104-6
K aus, S., Niemand, T., Halbe s ad , J., Shaw, E., & Sy jä, P.
(2017). Social en ep eneu ship o ien a ion:
De elopmen o a measu emen scale. In e na ional
Jou nal o En ep eneu ial Beha io & Resea ch, 23(6),
977‒997. h ps://doi.o g/10.1108/IJEBR-07-2016-0206
K ejcie, V. R., & Mo gan, W. D. (1970). De e mining sample
size o esea ch ac i i ies. Educa ional and
Psychological Measu emen , 30(3), 607–610. h ps://
doi.o g/10.1177/001316447003000308
Lee, E. K. M. (2018). The impac o abso p i e capaci y and
o dina y capabili ies on bo h inancial and social pe -
o mance: The Case o social en e p ises. A hesis
submi ed in pa ial ul ilmen o he equi emen s o
he deg ee o Doc o o Philosophy, Hong Kong Bap is
Uni e si y.
Le, N. T., & Nguyen, T. V. (2009). The impac o ne wo king
on bank inancing: The case o small and medium–
sized en e p ises in Vie nam. En ep eneu ship Theo y
and P ac ice, 33(4), 867–887. h ps://doi.o g/10.1111/
j.1540-6520.2009.00330.x
Le oy, M. T. (2012). The impac o ne wo king on access o
inance and pe o mance o SMEs in he Bu alo Ci y
Municipali y, Eas e n Cape, Sou h A ica. An
Unpublished Disse a ion Submi ed To he Facul y o
Managemen and Comme ce, Uni e si y O Fo Ha e.
Li, S., & Lin, B. (2006). Accessing in o ma ion sha ing and
in o ma ion quali y in supply chain managemen .
Decision Suppo Sys ems, 42(3), 1641–1656. h ps://
doi.o g/10.1016/j.dss.2006.02.011
Liu, G., Eng, T.-Y., & Takeda, S. (2015). An in es iga ion o
ma ke ing capabili ies and social en e p ise pe o -
mance in he UK and Japan. En ep eneu ship Theo y
and P ac ice, 39(2), 267–298. h ps://doi.o g/10.1111/
e ap.12041
Liu, G., Takeda, S., & Ko, W. W. (2014). S a egic o ien a-
ion and social en e p ise pe o mance. Nonp o i and
Volun a y Sec o Qua e ly, 43(3), 480–501. h ps://
doi.o g/10.1177/0899764012468629
Li, & Zhang, Y. (2007). “The ole o manage s’ poli ical
ne wo king and unc ional expe ience in New en-
u e pe o mance: E idence om China’s ansi ion
economy. S a egic Managemen Jou nal, 28(8),
791–804. h ps://doi.o g/10.1002/smj.605
Machi o i, T., & Fa oki, O. (2013). The impac o i m and
En ep eneu ’s cha ac e is ics on ne wo king by SMEs
in Sou h A ica. Jou nal o Economics, 4(2), 113–120.
h ps://doi.o g/10.1080/09765239.2013.11884971
Mani, D., Ba ua, A., & Whins on, A. (2010). An empi ical
analysis o he impac o in o ma ion capabili ies
designs on business p ocess ou sou cing
pe o mance. Mis Qua e ly, 34(1), 39–62. h ps://doi.
o g/10.2307/20721414
Mashizha, M., & Sibanda, M. (2017). The link be ween
inancial knowledge, inancial p oduc awa eness
and u iliza ion: A s udy among small and medium
en e p ises in Zimbabwe. In e na ional Jou nal o
Economics and Financial Issues, 7(6), 97–103.
Mlo shwa, S. H. (2019). The in luence o ne wo king on
small medium en e p ise pe o mance in Gau eng,
Sou h A ica [Doc o al disse a ion].
Mochona, S. (2006). Impac o mic o inance in Addis
Ababa: The case o gasha mic o inance ins i u ion
[Doc o al disse a ion]. Addis Ababa Uni e si y.
Moo hy, K. M., Tan, A., Choo, C., Wei, S. C., Ping, Y. J., &
Leong, K. T. (2012). A s udy on ac o s a ec ing he
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 17 o 21
pe o mance o SMEs in Malaysia. Academic Resea ch
in Business and Social Sciences, 2(4), 224–239.
Newman, A., Schwa z, S., & Bo gia, D. (2014). How does
mic o inance enhance en ep eneu ial ou comes in
eme ging economies? The media ing mechanisms o
psychological and social capi al. In e na ional Small
Business Jou nal, 32(2), 158–179. h ps://doi.o g/10.
1177/0266242613485611
Nguyen, C. T., Nguyen, L. T., Nguyen, N. Q., & McMillan, D.
(2022). Co po a e social esponsibili y and inancial
pe o mance: The case in Vie nam. Cogen Economics
& Finance, 10(1), 2075600. h ps://doi.o g/10.1080/
23322039.2022.2075600
Ogunsola, K., & Babalola, J. A. (2020). Dynamics o busi-
ness in o ma ion use and implica ions on cus ome
sa is ac ion and pe o mance o mic o, small and
medium - scale en e p ises in Ibadan, Nige ia.
Jou nal o A ican In e disciplina y S udies, 4(6),
21–37.
Ojo, A., Akinsunmi, S., & Olayonu, O. (2015). In luence o
business in o ma ion use on sales pe o mance o
SMEs in Lagos s a e. Lib a y Philosophy & P ac ice
(E-Jou nal), 1(1).
Okello-Obu a, Minishi-Majanja, M. K., Cloe e, K. M., Ikoja-
Odongo, J. R., & Okello-Obu a, R. J. (2008). Business
ac i i ies and in o ma ion needs o SMEs in no he n
Uganda: P e equisi es o an in o ma ion sys em.
Lib a y Managemen , 29(4/5), 367–391. h ps://doi.
o g/10.1108/01435120810869138
Oko o, J. O., Haliso, Y., & O uza, C. E. (2019). In luence o
business in o ma ion use on pe o mance o small
and medium en e p ises in Po -Ha cou Nige ia.
Lib a y Philosophy & P ac ice, 1(1), 1–10.
Ozcan, P., & Eisenha d , K. M. (2009). O igin o alliance
po olios: En ep eneu s, ne wo k S a egies, and
i m pe o mance. Academy o Managemen Jou nal,
52(2), 246–279. h ps://doi.o g/10.5465/amj.2009.
37308021
Ramayah, T., Cheah, J., Chuah, F., Ting, H., & Memon, M. A.
(2018). Pa ial Leas Squa es S uc u al Equa ion
Modeling (PLS-SEM) using Sma PLS 3.0 (2nd ed.).
Pea son.
Salkind. (2012). Explo ing esea ch (p. 407). Pea son
Educa ion. 9780205093816.
Sample , J. L. (1998). Rede ining indus y s uc u e o he
in o ma ion age. S a egic Managemen Jou nal, 19
(4), 343–355. h ps://doi.o g/10.1002/(SICI)1097-
0266(199804)19:4<343:AID-SMJ975>3.0.CO;2-G
Sa s ed , M., Hai , J. F., J ., Cheah, J. H., Becke , J. M., &
Ringle, C. M. (2019). How o speci y, es ima e, and
alida e highe -o de cons uc s in PLS-SEM.
Aus alasian Ma ke ing Jou nal, 27(3), 197–211.
h ps://doi.o g/10.1016/j.ausmj.2019.05.003
Sha iee, H., & Moqadam, M. N. (2017). In o ma ion
esou ces Managemen (IRM): The key o
accoun abili y. In o ma ion Resou ces Managemen ,
30(2), 232–246.
She azi, S. K., Iqbal, M. Z., Asi , M., Rehman, K., & Hussain
Shah, S. S. (2013). Obs acles o small and medium
en e p ises in Pakis an P incipal componen analysis
app oach. Middle Eas Jou nal o Scien i ic Resea ch,
13(10), 1325–1334.
SMEDA. (2018). S a e o SMEs in Pakis an. h ps://smeda.
o g/index.php?op ion=com_con en & iew=a i
cle&id=7:s a e-o -smes-in-pakis an&ca id=15.
Soda, G., Usai, A., & Zahee , A. (2004). Ne wo k memo y:
The in luence o pas and Cu en ne wo ks on
pe o mance. Academy o Managemen Jou nal, 47
(6), 893–906. h ps://doi.o g/10.2307/20159629
Some ille, P., & McElwee, G. (2011). Si ua ing communi y
en e p ise: A heo e ical explo a ion. En ep eneu ship
& Regional De elopmen , 23(5–6), 317–330. h ps://doi.
o g/10.1080/08985626.2011.580161
Squazzoni, F. (2009). Social en ep eneu ship and eco-
nomic de elopmen in Silicon Valley: A case s udy
on he join en u e: Silicon Valley ne wo k. Non-
P o i and Volun a y Sec o Qua e ly, 38(5),
869–883. h ps://doi.o g/10.1177/
0899764008326198
Thio, R., Megananda, & Maulana, A. (2006). The impac o
mic o inance on mic o and small en e p ise’s pe o -
mance and he imp o emen o hei business oppo -
uni y (no. 200601). Depa men o Economics,
Padjadja an Uni e si y.
Wales, W. J., Pa el, P. C., Pa ida, V., & K eise , P. M. (2013).
Nonlinea e ec s o en ep eneu ial o ien a ion on
small i m pe o mance: The mode a ing ole o
esou ce o ches a ion capabili ies. S a egic
En ep eneu ship Jou nal, 7(2), 93–121. h ps://doi.
o g/10.1002/sej.1153
Wiklund, J., & Shephe d, D. (2005). En ep eneu ial o ien-
a ion and small business pe o mance:
a con igu a ional app oach. Jou nal o Business
Ven u ing, 20(1), 71–91. h ps://doi.o g/10.1016/j.
jbus en .2004.01.001
Xa ie , S. R., Kelley, D., Kew, J., He ing on, M., &
Vo de wülbecke, A. (2013). Global En ep eneu ship
moni o GEM 2012 global epo .
Xiaoqing, L., Xiaogang, H., & Zhang, Y. (2019). The impac
o social media on he business pe o mance o small
i ms in China. In o ma ion Technology o
De elopmen , 26(2), 346–368. h ps://doi.o g/10.
1080/02681102.2019.1594661
Yunus, M. (2020). A no e on social business and social
En ep eneu ship. Social Business Pedia.
Zacca, R., Dayan, M., & Ah ens, T. (2015). Impac o ne -
wo k capabili y on small business pe o mance.
Managemen Decision, 53(1), 2–23. h ps://doi.o g/10.
1108/MD-11-2013-0587
Zhou, Z. K., Yim, K. C., & Tse, K. D. (2005). The e ec s o
s a egic o ien a ions on echnology-and
ma ke -based b eak h ough inno a ions. Jou nal o
Ma ke ing, 69(2), 42–60. h ps://doi.o g/10.1509/
jmkg.69.2.42.60756
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 18 o 21
Appendix one
O ganiza ional pe o mance
The ollowing s a emen s ela e o he (Financial & Social pe o mance). Please indica e he
ex en o which he ollowing i ems desc ibe you o ganiza ion.
(1 ep esen s “S ongly disag ee”, 2 “Disag ee”, 3 “Sligh ly Disag ee”, 4 “Neu al”, 5 “Sligh ly
ag ee”, 6 “Ag ee” and 7 “S ongly ag ee”.)
Financial pe o mance 0% 0–10% 10–20% 20–30% 30–40% 40–50% <50%
FP1 How many pe cen o e u n on
in es men (ROI) o you business has
inc eased du ing he las h ee yea s
0% 0–10% 10–20% 20–30% 30–40% 40–50% <50%
FP2 How many pe cen o you business’s
ma ke sha e has inc eased du ing he
las h ee yea s?
0% 0–10% 10–20% 20–30% 30–40% 40–50% <50%
FP3 How many pe cen o p o i g ow h a e
o you company has inc eased du ing
he las h ee yea s?
0% 0–10% 10–20% 20–30% 30–40% 40–50% <50%
FP4 How many pe cen o you p oduc
sales ha e inc eased du ing he las
h ee yea s?
0% 0–10% 10–20% 20–30% 30–40% 40–50% <50%
Social Pe o mance S ongly
disag ee
Disag ee Sligh ly
disag ee
Neu al Sligh ly
ag ee
Ag ee S ongly
ag ee
SP1 Ou business p omo es
communica ion and coope a ion
wi h ou s akeholde s o inc ease
hei awa eness abou social
en e p ise.
1 2 3 4 5 6 7
SP2 Ou company use social media/
blog/websi e o p omo e social
en e p ise.
1 2 3 4 5 6 7
SP3 Ou business p io i ized in sol ing
local communi y ‘s p oblem.
1 2 3 4 5 6 7
SP4 Ou company hi e/employ
disabled people.
1 2 3 4 5 6 7
SP5 Ou business helps o inc ease
employmen a e among he
poo .
1 2 3 4 5 6 7
SP6 Ou business p o ides mo e social
and en i onmen ally iendly
se ices o he communi y.
1 2 3 4 5 6 7
SP7 Ou business help o dec ease
en i onmen al issues (g een
en i onmen , was e, pollu ion,
and clima e change).
1 2 3 4 5 6 7
SP8 Ou company make su e ha we
achie e a leas 60% o he
company’s a ge o social
wel a e.
1 2 3 4 5 6 7
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 19 o 21
Sec ion h ee
The ollowing s a emen s ela e o he business ne wo king. Please indica e he ex en o which
he ollowing i ems desc ibe you o ganiza ion.
(1 ep esen s “S ongly disag ee”, 2 “Disag ee”, 3 “Sligh ly Disag ee”, 4 “Neu al”, 5 “Sligh ly
ag ee”, 6 “Ag ee” and 7 “S ongly ag ee”.)
Sec ion ou
The ollowing s a emen s ela e o he business in o ma ion. Please indica e he ex en o which
he ollowing i ems desc ibe you o ganiza ion.
(1 ep esen s “S ongly disag ee”, 2 “Disag ee”, 3 “Sligh ly Disag ee”, 4 “Neu al”, 5 “Sligh ly
ag ee”, 6 “Ag ee” and 7 “S ongly ag ee”.)
Business ne wo king
BN 1 Ou company is a membe o a leas one o business- ela ed associa ion/
chambe o comme ce.
1 2 3 4 5 6 7
BN 2 Ou company egula ly joins ade ai s and a end business semina s. 1 2 3 4 5 6 7
BN 3 We always a end e en s o ganized by ou business iends. 1 2 3 4 5 6 7
BN 4 Ou company always build good bond/connec ion wi h ou business iends. 1 2 3 4 5 6 7
BN 5 Ou company always ge amily membe s in ol ed in ou social ac i i ies. 1 2 3 4 5 6 7
BN 6 Ou company always in i es go e nmen o icials o a end ou company’s
e en s.
1 2 3 4 5 6 7
BN 7 7- Ou company usually in i es all ou supplie s o a yea ly dinne . 1 2 3 4 5 6 7
BN 8 Ou company communica e wi h ou cus ome s and gi es discoun s o hem
so hey will no o ge abou ou company and keep buying om us.
1 2 3 4 5 6 7
BN 9 Ou company always keep good epo wi h ou compe i o s 1 2 3 4 5 6 7
BN10 Ou company always sha e knowledge and esou ces wi h o he companies
who sell p oduc s ha can complemen ou p oduc s.
1 2 3 4 5 6 7
Business In o ma ion
BI 1 I know whe e o ge business in o ma ion. 1 2 3 4 5 6 7
BI 2 I always ead newspape s/ ade epo s/business magazines/jou nals/
go e nmen publica ions o ga he in o ma ion abou supplie s’ company.
1 2 3 4 5 6 7
BI 3 I ely on in e ne sou ces and expe s’ opinion o collec in o ma ion
ega ding ma ke demand o ou p oduc .
1 2 3 4 5 6 7
BI 4 I ely on social media such as Facebook, wi e , Wha sApp, and Ins ag am
o ge in o ma ion on consume ’s p e e ences.
1 2 3 4 5 6 7
BI 5 I ely on elec onic media such as adio and ele ision o ge in o ma ion on
consume ’s p e e ences.
1 2 3 4 5 6 7
BI 6 In o mal in o ma ion om leade s, employees, colleagues, and o he
people is easily a ailable o ou business.
1 2 3 4 5 6 7
BI 7 In o ma ion ega ding inancial aid is o en a ailable 1 2 3 4 5 6 7
BI 8 I know ha I can access o in o ma ion abou supplie s ha ela ed o my
p oduc .
1 2 3 4 5 6 7
BI 9 I know ha I can access o in o ma ion o o he compe i o i ms ha o e
simila p oduc as mine.
1 2 3 4 5 6 7
(Con inued)
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 20 o 21
Business In o ma ion
BI 10 I know ha I can easily ge in o ma ion abou p oduc de elopmen ha
a e ela ed o my p oduc s.
1 2 3 4 5 6 7
BI 11 In o ma ion abou Pakis an’s go e nmen ule and egula ion ela ed o
business is easily accessible o me.
1 2 3 4 5 6 7
BI 12 I can easily access o mos o he sou ces o he business in o ma ion. 1 2 3 4 5 6 7
BI 13 I can easily collec business in o ma ion om o he sou ces like social
media and elec onic media (TV, Radio).
1 2 3 4 5 6 7
BI 14 I ely on social media and elec onic media (TV, Radio) because I can ge
business in o ma ion e y quickly.
1 2 3 4 5 6 7
BI 15 I ely on p in media because I can ge business in o ma ion e y quickly. 1 2 3 4 5 6 7
BI 16 To collec business in o ma ion physically om go e nmen ins i u ions is
complica ed.
1 2 3 4 5 6 7
BI 17 I only ga he he business in o ma ion ha a e eely a ailable 1 2 3 4 5 6 7
BI 18 I belie e published business in o ma ion ha I ga he om o icial sou ces
(like go e nmen agencies’ websi e o company’s annual epo ) is ele an .
1 2 3 4 5 6 7
BI 19 I belie e business in o ma ion ha I ge om o he sou ces (social media,
elec onic media, p in media) is ele an .
1 2 3 4 5 6 7
BI 20 I belie e published business in o ma ion ha I ga he om o icial sou ces
(like go e nmen agencies’ websi e o company’s annual epo ) is eliable.
1 2 3 4 5 6 7
BI 21 I belie e business in o ma ion ha I ge om o he sou ces (social media,
elec onic media, p in media) is eliable.
1 2 3 4 5 6 7
BI 22 I belie e published business in o ma ion ha I ga he om o icial sou ces
(like go e nmen agencies’ websi e o company’s annual epo ) is accu a e.
1 2 3 4 5 6 7
BI 23 I belie e business in o ma ion ha I ge om o he sou ces (social media,
elec onic media, p in media) is accu a e.
1 2 3 4 5 6 7
BI 24 I belie e published business in o ma ion ha I ga he om o icial sou ces
(like go e nmen agencies’ websi e o company’s annual epo ) is
comple e.
1 2 3 4 5 6 7
BI 25 I belie e published business in o ma ion ha I ga he om o icial sou ces
(like go e nmen agencies’ websi e o company’s annual epo ) is
adequa e/su icien .
1 2 3 4 5 6 7
BI 26 I belie e published in o ma ion ha I ga he om o icial sou ces (like
go e nmen agencies’ websi e o company’s annual epo ) is adequa e/
su icien .
1 2 3 4 5 6 7
BI 27 I belie e business in o ma ion ha I ge om o he sou ces (social media,
elec onic media, p in media) is adequa e/su icien
1 2 3 4 5 6 7
Hussain e al., Cogen Business & Managemen (2024), 11: 2285062
h ps://doi.o g/10.1080/23311975.2023.2285062
Page 21 o 21
