Financial Performance Research Articles

EXAMINING THE INTEGRATION OF INDUSTRY 4.0 TECHNOLOGIES IN MANUFACTURING

The integration of Industry 4.0 technologies is transforming manufacturing, enhancing efficiency, flexibility, and sustainability. This research paper explores the application of key technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data analytics in the sector. By analyzing a comprehensive dataset that includes supply chain metrics from major corporations like Apple, Amazon, and Google, the study examines the impact of Industry 4.0 practices on critical supply chain performance indicators, including inventory turnover ratio, lead time, and customer satisfaction. Industry 4.0 technologies are reshaping supply chain management (SCM) strategies such as lean manufacturing, agile SCM, and cross-docking. AI and block chain are shown to significantly enhance supply chain agility and resilience. Companies that integrate these technologies tend to have more streamlined operations, shorter lead times, and higher customer satisfaction rates. Environmental sustainability practices are becoming increasingly important as businesses strive for more eco-friendly manufacturing processes. The study finds that organizations employing agile supply chain practices and leveraging advanced technologies often demonstrate superior operational efficiency and financial performance. The integration of these technologies also introduces challenges, such as increased supply chain complexity and risk management concerns. This paper provides a comprehensive overview of how Industry 4.0 technologies are revolutionizing manufacturing and supply chain dynamics. It highlights the future trajectory of smart manufacturing and emphasizes the need for continued innovation to address emerging challenges. The research offers insights into how companies can adapt their supply chain strategies to thrive in the evolving landscape of digital transformation and automation.

Exploring the role of entrepreneurial self-efficacy into performance of graduate-owned small and medium-sized enterprises in Tanzania

PurposeThe study assessed the role of entrepreneurial self-efficacy (ESE) in the performance of graduate-owned small and medium-sized enterprises (SMEs). Specifically, the paper focused on how graduate owners’ confidence in identifying and commercializing new business opportunities and create new commodities according to the market demand influences both, the financial and non-financial performance of graduate-owned SMEs.Design/methodology/approachThe study employed a cross-sectional survey design, in which 228 SME graduate owners majored in entrepreneurship were involved through online structured questionnaires. The relationship between the variables was determined by using partial least squares structured equation modeling (PLS-SEM).FindingsThe results indicate that entrepreneurial self-efficacy of graduate SME owners influence the financial and non-financial performance of their SMEs. Specifically, financial performance values have a ß-value of 0.576 and a p-value of <0.0001, non-financial performance values have a ß-value of 0.275 and a p-value of <0.0001.Practical implicationsIn order to improve the performance of graduate-owned SMEs, universities should strive to equip graduates with self-confidence, which will enable them to utilize their entrepreneurial competences acquired through the entrepreneurship course programs. This will enable them to tackle business environmental challenges and be able to run successful businesses.Originality/valueThe results of this study extend the use of the self-efficacy theory in explaining the performance of graduate-owned SMEs in Tanzanian. Further, the study focused on ESE as a specific domain developed from entrepreneurship learning for entrepreneurial outcomes. Therefore, the study engaged graduate entrepreneurs who majored in entrepreneurship, which has not been the focus in most studies.

Financial performance of new circular economy companies in rural settings

AbstractThis study examines how rural conditions affect the establishment and performance of new circular economy (CE) companies—those that reduce, reuse, recycle, and recover materials in their processes—focusing on their longevity, financial performance, and distribution of economic value to stakeholders. We hypothesize that while rural conditions generally lead to fewer business establishments, the liability of rurality is less severe for CE companies than for others. We also anticipate that new CE companies will grow more slowly but achieve better performance, resulting in higher survival rates compared to those in other sectors. Our empirical analysis includes all CE companies established in Spain over the past decade. The results indicate that rural CE companies have higher survival rates than their urban counterparts, even after controlling for factors like subsidies and personnel costs. Although rural CE companies exhibit slower growth, they achieve greater profitability. Thus, the CE sector in rural areas demonstrates sustainability not only through its circular practices but also in financial terms, offering significant implications for investors seeking sustainable ventures.

Determination of Financial Performance in Electric Power Enterprises with Entropy Weighted WASPAS Analysis Method

In this study, Entropy weighted WASPAS method is applied to measure the financial performance of 11 electric power enterprises operating in Borsa Istanbul (BIST) for the period of 2022. 7 financial ratios for the year 2022 were accepted as criteria and the financial success ranking of 11 electric power enterprises was made. The financial ratios used in the study were selected among the ratios that can provide information about the liquidity and profitability status of the enterprises. In the first stage of the application, Entropy method was used to determine the criteria weights. The determined criteria weights were prioritized and used in the WASPAS (Weighted Aggregated Sum Product Assessment) method. Then, the financial performance of electric energy enterprises was ranked by making an evaluation with the WASPAS method.

An updated model of rural hospital financial distress.

To create a model that predicts future financial distress among rural hospitals. The sample included 14,116 yearly observations of 2311 rural hospitals recorded between 2013 and 2019. We randomly separated all sampled hospitals into a training set and test set at the start of our analysis. We used hospital financial performance, government reimbursement, organizational traits, and market characteristics to predict a given hospital's risk of experiencing one of three financial distress outcomes-negative cash flow margin, negative equity, or closure. The model's area under the receiver operating characteristic curve (AUC) equaled 0.87 within the test set, indicating good predictive ability. We classified 30.55% of the observations in our sample as lowest risk of experiencing financial distress over the next 2 years. In comparison, we classified 32.52% of observations as mid-lowest risk of distress, 26.40% of observations as mid-highest risk, and 10.52% of observations as highest risk. Among test set observations classified as lowest-risk, 5.78% experienced negative cash flow margin within 2 years, 1.50% experienced negative equity within 2 years, and zero observations experienced closure within 2 years. Within the highest-risk group, 61.57% of observations experienced negative cash flow margin, 43.02% experienced negative equity, and 3.33% experienced closure. Given the ongoing challenges and consequences of rural hospital unprofitability, there is a clear need for accurate assessments of financial distress risk. The financial distress model can be used by researchers, policymakers, and rural health advocates as a screening tool to identify at-risk rural hospitals for closer monitoring.

Analisis Pendapatan Daerah dalam Mengukur Kemandirian Daerah Kabupaten Bandung

A region's ability to manage regional finances will influence the level of regional independence. To measure the regional independence of Bandung Regency, regional income was measured using ratio analysis consisting of the degree of decentralization ratio, the regional dependency ratio, the regional financial independence ratio, and the PAD effectiveness ratio. The method used in this research is a descriptive qualitative method using secondary data in the form of budget realization reports. The results of the research show that the regional financial performance of Bandung Regency has not been maximized with an average degree of decentralization of 18.41% with the criteria of insufficient capacity, the level of regional dependency is very high with an average of 68.45%, the average level of regional financial independence is 26.93% are included in low financial capability and have a consultative relationship pattern, the average PAD effectiveness level is 110.76% or is included in the very effective category. From the research results it can be concluded that Bandung Regency is not yet independent in managing its regional finances. Efforts that the Bandung Regency Regional Government can make to overcome this are by conducting outreach regarding tax regulations to taxpayers, exploring other potential sources of PAD revenue, and intensifying PAD revenue.

Does environmental cooperation with suppliers matter under environmental strategy focus and digital technology knowledge?

ABSTRACT Environmental cooperation with suppliers (ECS) helps firms to effectively manage dispersed suppliers, thereby addressing stakeholders’ environmental concerns. However, the literature is inconclusive regarding the relationship between ECS and financial performance (FP). Unlike previous research on ECS, this study uses the motivation-opportunity-ability (MOA) theory to analyze the relationship between ECS and FP, with firm innovativeness as a mediator. Furthermore, environmental strategy focus and digital technology knowledge are considered contingent factors in the link between ECS and FP. The SPSS version of PROCESS was employed to test the hypotheses, using ordinary least squares regression with survey data collected from 136 Chinese firms. The results reveal that firm innovativeness positively mediates the relationship between ECS and FP. Moreover, environmental strategy focus and digital technology knowledge strengthen the indirect impact of ECS on FP via firm innovativeness. Finally, this study provides theoretical and practical implications for firms when implementing ECS and firm innovativeness.

Bankruptcy Prediction and Performance: the Influence of Quality Certification on Portuguese SMEs

Objective: To observe the existence of a relationship between quality certification and performance and bankruptcy prediction for Portuguese SMEs. Theoretical Reference: The search for quality and its certification, via the International Standard Organization (ISO), theoretically, is related to the going concern assumption, making it possible to enhance the company's economic and financial sustainability. Method: Multisectoral Multivariate Discriminant Analysis (ADM) models, considered the most efficient, were selected for application, as well as the commonly used Univariate Analysis indicators. In Bureau Van Dijk's SABI Database, we collected Portuguese SMEs, with financial information from 2014 to 2018, certified in the scope of quality, ISO 9000 or 9001, on 12/31/2018, of these, we focused on those with main activity in NACE D - Electricity, Gas, Steam, Hot and Cold Water and Cold Air or G - Wholesale and Retail Trade, Repair of Motor Vehicles and Motorcycles as they are the most important. The Sector Average Company was also collected for the same NACE via Banco de Portugal Sector Tables. Then, having applied the models and indicators under study, we compared the results obtained between them, in order to observe the possible effect of quality certification on financial performance. Results and Discussion: No implication of quality certification in improving or optimizing the performance or economic-financial position of entities is identified. Implications of the Research: Uncover the influence of quality certification on the economic-financial position of companies, allowing for deeper investigation into bankruptcy, sustainability and value creation. Originality/Value: The specificities of the sectors and business size, crises and increasing closures make it vital to identify what will influence performance and sustainability, as no studies have been identified on this topic, focusing on Portuguese SMEs, certified via ISO 9000 or 9001.

A-207 Enhancing Healthcare Delivery Network Laboratories: The Role of Third-Party Consultants in Benchmarking and Reviewing RFP Results

Abstract Background Healthcare delivery networks, particularly laboratory services, play a critical role in patient care and diagnosis. However, ensuring the quality and efficiency of these services can be challenging due to the complex and dynamic nature of healthcare systems. Third-party consultants offer valuable expertise in benchmarking and reviewing Request for Proposal (RFP) results, which can improve the quality and cost-effectiveness of laboratory services within healthcare networks. Methods To evaluate the role of third-party consultants in enhancing healthcare delivery network laboratories, the author conducted surveys to 50 laboratory leaders with a 50% response rate and analyzed the following aspects: Benchmarking: Comparing laboratory performance metrics with industry best practices and peer institutions to identify areas for improvement. RFP Review: Utilizing subject matter experts to assess the technical and financial proposals submitted by vendors to ensure compliance with RFP requirements and to identify the most suitable vendor for the network. Emotional Procurement: Minimizing the influence of emotional factors, such as personal relationships or brand loyalty, during the RFP process. Results Improved Quality: 65% said they can save >50 hours of labor utilizing a 3rd party for RFP, thus able to focus on patient results and quality. Cost Savings: 76% of respondents said consultants can help networks reduce expenses and improve their financial performance by 10-20% above and beyond incumbent negotiations. Emotional Procurement Mitigation: While the specific statistics supporting the influence of consultants on mitigating emotional factors in procurement decisions are not readily available, the broader impact of emotions on decision-making is well-documented. Therefore, while direct statistics may be limited, the influence of emotions on procurement decisions is a recognized factor in the field of decision science and consumer behavior. Turn around time: 70% of respondents said utilizing a 3rd party can reduce the turnaround time of a sourcing event from >3 months to < 1months. Conclusions Third-party consultants can provide valuable insights and expertise in benchmarking and reviewing RFP results, leading to several benefits. They can play a crucial role in enhancing healthcare delivery network laboratories by providing valuable expertise in benchmarking, reviewing RFP results, communication and reducing turnaround time. By improving quality, reducing costs, mitigating emotional procurement based on brand loyalty, and enhancing collaboration, consultants can help networks deliver high-quality services to patients and improve their overall performance. Consultants can facilitate more focused communication and partnership development between laboratories, vendors, and other stakeholders, ensuring a seamless transition and optimal performance without scope creep. As healthcare networks continue to evolve and face new challenges, the role of third-party consultants will become increasingly important in ensuring the quality and efficiency of laboratory services, potentially resulting in $100’s of millions in cost takeout across the country.

Unveiling synergies: Business intelligence nexus with environmental and financial performance in Bangladeshi manufacturing firms

Unveiling synergies: Business intelligence nexus with environmental and financial performance in <scp>Bangladeshi</scp> manufacturing firms

Pengaruh corporate social responsibility disclosure terhadap kinerja keuangan dengan reputasi sebagai variabel moderasi

This study aims to determine the effect of corporate social responsibility disclosure (CSRD) on firm financial performance with corporate reputation as a moderation variable. It focuses on primary and secondary sector companies listed on the IDX in 2014-2022. The dependent variable is firm financial performance, measured using return on assets (ROA). The independent variable, corporate social responsibility disclosure, is measured using the GRI G4. The corporate reputation as moderation variable is measured using the number of awards obtained by the company. The control variables used are company size, leverage, and cash flow. The sampling technique used purposive sampling and obtained as many as 143 companies. This research uses quantitative data, and the method used is regression analysis using the STATA application. The results of this study show that CSRD has a significant positive effect on firm financial performance. These findings provide practical guidelines for companies, stating that it is essential for a company to implement CSRD practices and have a good impact on the company's financial performance, thereby guiding companies in their CSR initiatives.

Transforming banking: Examining the role of AI technology innovation in boosting banks financial performance

With the ongoing advancement of technology, artificial intelligence is increasingly being integrated into banking and finance, with the transformative potential to reshape the financial performance of economies worldwide. This research investigates the dynamic relationship between banking and finance artificial intelligence technology innovation and banks' financial performance across 20 countries using the feasible generalized least squares and the generalized method of moments techniques. The results show that banking and finance artificial intelligence technology innovation positively impacts banks' return on assets, highlighting its role in enhancing financial performance. The interaction term between artificial intelligence innovation and economic growth emphasizes their collaborative positive impact on financial performance. Mediation analysis highlights information and communication technology development's role in transforming artificial intelligence innovation into improved financial outcomes. Considering lagged effects, initial innovation surges correlate with improved financial performance, but prolonged exposure leads to diminishing returns. Moreover, the findings indicate that non-performing loans negatively affect financial performance, underscoring the importance of asset quality. Additionally, regulatory capital and economic growth are positively associated with financial performance, while government regulations exhibit a negative impact. This study highlights the essential role of artificial intelligence technology innovation in banking and finance, emphasizing the need to consider economic and technological factors for maximizing its benefits in enhancing financial performance. Policy recommendations include promoting an artificial intelligence innovation ecosystem, adapting regulatory frameworks, and investing in information and communication technology infrastructure to harness artificial intelligence innovation's benefits while addressing associated challenges.

A comparative study of the impact of LSSI4.0 implementation on the financial performance of Chinese manufacturing firms: an empirical analysis

Purpose This paper aims to investigate how implementing lean six sigma and Industry 4.0 (LSSI4.0) can influence a company’s financial performance and discusses the current trend involving LSSI4.0 in China. Design/methodology/approach For statistical analysis, financial data was sourced from the China Stock Market and Accounting Research database. Keywords used to assess the implementation status of LSSI4.0 were extracted from the 2007 to 2020 annual reports of A-share manufacturing companies. Regression analysis was applied to the quantitative analyses of 5,041 observational data points from 945A-share manufacturing companies in China. Findings LSSI4.0 implementation in the manufacturing industry boosts the firms’ financial performance. However, the former outperforms the latter in terms of long-term advantages. Meanwhile, incorporating lean six sigma (LSS) into Industry 4.0 (I4.0) can lead to long-term improved financial performance compared to solely implementing the I4.0. Research limitations/implications The findings possess limited international representativeness because all empirical data were derived from Chinese large manufacturing companies. In addition to return on assets and return on equity, financial performance can also be measured using other financial metrics, such as return on investment. In this study, only listed manufacturing companies were considered as research samples. Practical implications Top management must acknowledge the positive impact of LSSI4.0 on financial performance and prioritize implementing I4.0 based on LSS implementation. Originality/value Empirical results concerning the effectiveness of LSS implementation in enhancing financial performance are inconclusive, particularly in China. In addition, most studies collected data through surveys and interviews, so the representativeness of their outcomes is limited. Overall, this study evaluated the impact of LSSI4.0 implementation with large sample size.

Firm Characteristics, Interest Rate And Financial Performance Of Microfinance Banks In Kenya

Microfinance Banks gives the forte to improve the economic activity of low-income individuals and eliminate poverty, resulting in economic progress. However, microfinance's Banks financial performance in Kenya has declined over time. The objective of this study is to investigate firm characteristics, interest rate and financial performance of microfinance banks in Kenya. The study was grounded on buffer capital, efficiency structure and interest rate parity theories. The study research methodology rested on positivism research philosophy. Research design was explanatory non-experimental design. Secondary panel data was utilized. 13 microfinance banks in Kenya were target. Information was gathered using secondary data sources from microfinance banks accounting report from 2016 to 2022. Data was analysed using descriptive and inferential statistics. The study used multiple regressions and Pearson’s Product Moment Correlation analysis. All ethical considerations were appropriately observed. Findings indicated that adequacy of capital exerts a notable and direct effect on financial performance, underscoring the importance for microfinance banks in Kenya to prioritize maintaining sufficient capital levels to support their overall stability and financial outcomes. Conversely, quality of asset demonstrates a significant and adverse influence on performance financially, highlighting the need for microfinance banks to enhance their credit assessment processes to ensure the quality of their loan portfolios. The research revealed that efficiency of management has an insignificant direct influence on financial performance of Microfinance banks. To address this, microfinance banks are advised to invest in comprehensive management training programs and capacitybuilding initiatives to improve operational effectiveness and decision-making processes. Earning ability, on the other hand, exhibits a considerable and direct influence on financial performance. Microfinance banks should thus focus on continuous innovation of their products and services to enhance their earning potential and overall financial outcomes. Liquidity levels exhibit an insignificant and inverse effect on the financial performance outcomes. To mitigate potential risks, microfinance banks should establish comprehensive policies and procedures to monitor and manage liquidity effectively. Interestingly, the study reveals that the connection concerning firm-level attributes and financial outcomes for microfinance institutions in Kenya does not appear to be subject to a substantial moderating influence from interest rate movements. Therefore, the survey recommends that microfinance banks concentrate on improving governance structures, operational efficiency, risk management practices, and asset quality. This can be achieved through capacity-building programs, training initiatives, and adopting best practices from successful microfinance institutions. Strengthening these firm characteristics will enable microfinance banks to enhance their financial performance, irrespective of interest rate fluctuations

Environmental Social Governance and Financial Performance: A Symbiotic Relationship in Indian Manufacturing

Studying Environmental, Social, and Governance (ESG) aspects and firm performance is crucial for globally understanding how sustainable practices drive long-term profitability and competitiveness in diverse markets. The research gap lies in the need to empirically test the influence of ESG disclosure on corporate performance through the lens of institutional theory and signaling theory. The study aimed to examine the time-variant impact of ESG on the financial performance (FFP) of Indian manufacturing firms from 2019 to 2022. For the study’s analysis, we utilized a variant of structural equation modelling called the ‘cross-lagged panel model’. The cross-lagged panel analysis measured the association of aggregate ESG and its dimensions with FFP. Our findings suggested that the investment in the aggregate ESG commitment increased the firms’ financial performance among our sample companies. Regarding the individual aspects of ESG, the environmental and societal obligations of the firms had a positive impact on the firms’ earnings, whereas the governance aspect harms the FFP. This study provides beneficial recommendations to policymakers, investors, and portfolio managers based on the analysis.

Corporate Governance and Financial Performance: Family Firms vs. Non-Family Firms

The essence of a family business captures the distinguishing factors differentiating them from non-family businesses. Among these factors, the constructs of family firms’ managing and governance elements are perceived differently by non-family firms. This is especially important in a developing country such as South Africa (SA) with many governance challenges. The objectives of this study were, first, to identify relationships among financial performance, corporate governance, and ownership concentrations of listed family and non-family businesses in SA. Next, a comparison was made between the different ownership structures. Secondary data were collected using purposive sampling from 2015 to 2019. These data were analysed using panel data analysis and descriptive statistics. The results show that family firms place a greater emphasis on ownership concentration, board size, and board gender diversity, which have a significant relationship with financial performance. Only board size was significant to financial performance for non-family firms. The results indicate that family businesses should appoint female family members as directors on their boards, given the significance of gender-diverse boards for financial performance. Non-family businesses should also consider having smaller boards. Theoretically, this study expands on the literature regarding family businesses in SA. However, the findings cannot be generalised due to a single industry being selected. This study should be replicated in different industries to compare the results.

Determination of financial performance and transfer pricing aggressiveness: Analysis of sales growth, leverage, company size and intangible assets (literature review)

Previous research or relevant research is very important in a research or scientific article. Previous research or relevant research serves to strengthen the theory and phenomena of the relationship or influence between variables. This article reviews the Determination of Financial Performance and Transfer Pricing Aggressiveness: Analysis of Sales Growth, Leverage, Company Size and Intangible Assets, A Study of the Transfer Pricing Literature. The purpose of writing this article is to build a hypothesis of the influence between variables to be used in further research. The results of this research library are that: 1) The Effect of Sales Growth on Financial Performance; 2) The Effect of Leverage on Financial Performance; 3) Effect of Company Size on Financial Performance; 4) The Effect of Intangible Assets on Financial Performance; 5) The Influence of Sales Growth on Transfer Pricing Aggressiveness; 6) The Influence of Leverage on Transfer Pricing Aggressiveness; 7) The Influence of Company Size on Transfer Pricing Aggressiveness; 8) The Influence of Intangible Assets on Transfer Pricing Aggressiveness; and 9) The Influence of Financial Performance on Transfer Pricing Aggressiveness.

The impact of new VAT enforcement on financial performance: Evidence from Saudi Arabia non-financial listed companies using the event study and ARMA model

This paper examines the influence of the new 15 % Value Added Tax (VAT) enforcement on non-financial listed companies in Saudi Arabia. By comparing financial data from 2019, before the VAT implementation and the COVID-19 pandemic, with data from 2020, during both the VAT increase and the pandemic, the research aims to uncover the consequences of this tax policy change. Utilizing charts, tables, and an event study analysis approach with the Autoregressive Moving Average (ARMA) model, we investigated key financial indicators such as Shareholders' Equity (SE), Total Income (TI), Total Revenues (TR), Net Income (NI), Total Expenses (TE), Other Changes in Operating Activity (COA), and Cash at the End of the Period (CEP). The findings reveal significant financial impacts, highlighting companies' challenges due to the increased tax burden. Shareholders' Equity dropped from an average of 11.55 million to 4.57 million, and Total Income and Total Revenues decreased from approximately 1.73 million to 316,234 and from 1.95 million to 331,605, respectively. Net Income sharply declined from 406,109 to 74,624, and Total Expenses decreased from about 1.18 million to 223,495. Other Changes in Operating Activity shifted from a negative mean of −168,936 to a positive 523,520, and Cash at the End of the Period fell from 1.99 million to 666,663. These results suggest that the VAT increase has significantly strained companies' financial performance, emphasizing the need to consider such tax reforms carefully, particularly in developing countries. The study concludes that while the VAT increase aims to enhance government revenues, it imposes substantial financial strain on companies, potentially leading to long-term economic repercussions. Policymakers should consider these implications and implement practical measures to optimize the VAT system and support business resilience in the face of such reforms.

Effectiveness of UEFA's regulation for European football financial management: A comprehensive systematic review and meta-analysis

BackgroundThe Union of European Football Association's (UEFA) Financial Fair Play (FFP) regulations are a topic of ongoing debate. This study aims to evaluate and quantify the FFP's effect on clubs' financial performance and critically review the regulatory changes introduced by the UEFA in 2022 through the new Financial Sustainability Regulations (FSR). MethodsA systematic review and meta-analysis were conducted using the Web of Science and Scopus databases up to December 31, 2023, following the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) statement. ResultsThis systematic review included 22 articles; a meta-analysis was conducted on 52 financial measures derived from 20 studies of 11 articles. The meta-analysis’ main result—obtained by comparing two different financial measures (profitability versus solvency)—revealed that FFP's effect on profitability measures was significant, with a value of 0.151 (p = 0.050); however, the effect size for solvency measures was not significant, with a value of 0.049 (p = 0.639). ContributionsThis systematic review revealed variability in the results of the studies analysed, reflecting contextual factors' influence, which underlines the need for a more adaptive and specific approach to clubs’ financial control policies. The meta-analysis found that the type of financial measure employed (profitability versus solvency) was a notable source of variability among the studies, as its moderating effect was significant. Consequently, the FFP exerted contrasting effects on profitability and solvency. LimitationsA significant level of heterogeneity was observed in the financial measures analysed, predominantly because of the different samples and periods across the included studies. ConclusionsThis study corroborates FFP's mixed and limited impact on financial performance, highlighting the need for stricter control in European football, which aligns with the new FSR. Our study underscores aspects that future research should address to deepen knowledge of UEFA regulations' efficiency in enhancing football's financial sustainability.

The Impact Of Cashless Payments On Smes’ Financial Performance In Mount Lebanon

Cashless payments are one of the innovations playing a significant role in business strategy. However, in Lebanon, the economic and financial crisis has forced SMEs to primarily use cash as a mode of payment, leading to numerous issues affecting their financial performance. To overcome these challenges, companies are seeking to adopt cashless payments outside the banking sector to better control their finances and adapt to rapid technological advancements. This study aims to examine the impact of cashless payments on the financial performance of SMEs in Mount Lebanon, highlighting the factors affecting the adoption of this payment method. A survey was conducted with the leaders of 183 SMEs in the region, and the results of multiple regression analysis, carried out using SPSS software, confirmed the significant impact of electronic payments on the financial performance of SMEs in the region. Specifically, mobile money and E-transfer have a significant positive relationship with financial performance. Furthermore, the study identified that competition, risks, and ease of use are the behavioral intention factors that affect the adoption of cashless payments. Consequently, leaders must adjust their strategy by integrating cashless payments to improve their financial performance.