Unlocking Digital Success: A TOE Framework Analysis of Digital Marketing Adoption for Enhanced SMEs Competitiveness
About this article
Keywords:
Digital marketing adoption, TOE framework, SMEs competitiveness, Business performance, Emerging economies, IndonesiaAbstract
This study analyzes the extent to which Technology-Organization-Environment (TOE) factors contribute to the adoption of electronic marketing and resulting business performance among small and medium-sized enterprises (SMEs) in Mimika, Indonesia. A quantitative, cross-sectional survey design collected data from 218 SMEs using validated tools and applying Partial Least Squares Structural Equation Modeling (PLS-SEM) and bootstrapping methods for analytical assessment. The findings suggest that technological forces have the largest positive effect on electronic marketing adoption (β = 0.573, p < 0.001), followed by organizational forces (β = 0.232, p < 0.001), and environmental forces (β = 0.185, p < 0.005). The adoption of electronic marketing is further seen to positively affect business performance (β = 0.841, p < 0.001). The structural model explains 83.6% of the variance for electronic marketing adoption and 70.7% of the variance for business performance. Despite limitations inherent to the cross-sectional design when it comes to causal implications and geographical limitations applied to generalizability, this research provides the first empirical validation of the TOE framework within the specific context of Indonesian SMEs adopting electronic marketing. The findings are reflective of a technology-led adoption model different from an organizational-led fashion common to more developed countries. The findings indicate that SMEs would be best advised to place importance upon determining their technology-readiness and examining platform compatibility, complemented by developing organizational capacity, to ensure enhanced capability to drive digital transformation, and hence make valuable contributory inputs to context-specific literature for emerging economies where technology-focused factors have a preponderant role to play when choosing an adoption model.
References
Abed, S. S. (2020). Social commerce adoption using TOE framework: An empirical investigation of Saudi Arabian SMEs. International Journal of In-formation Management, 53, 102118. https://doi.org/10.1016/j.ijinfomgt.2020.102118
Acikgoz, F., Elwalda, A., & De Oliveira, M. J. (2023). Curiosity on cutting-edge technology via theory of planned behavior and diffusion of innova-tion theory. International Journal of Information Management Data Insights, 3(1), 100152. https://doi.org/10.1016/J.JJIMEI.2022.100152
Acosta-Prado, J. C. (2020). Relationship between organizational climate and innovation capability in new technology-based firms. Journal of Open Innovation: Technology, Market, and Complexity, 6(2). https://doi.org/10.3390/joitmc6020028
Adedeji Adesoye. (2024). Empowering small businesses through innovative marketing technologies: A blueprint for growth and competitiveness. World Journal of Advanced Research and Reviews, 24(3), 1696–1713. https://doi.org/10.30574/WJARR.2024.24.3.3873
Adeleke, A. Q., Bahaudin, A. Y., Kamaruddeen, A. M., Bamgbade, J. A., Salimon, M. G., Khan, M. W. A., & Sorooshian, S. (2018). The influence of organizational external factors on construction risk management among Nigerian construction companies. Safety and Health at Work, 9(1), 115–124. https://doi.org/10.1016/j.shaw.2017.05.004
View more references (187)
Affandi, Y., Ridhwan, M. M., Trinugroho, I., & Hermawan Adiwibowo, D. (2024). Digital adoption, business performance, and financial literacy in ultra-micro, micro, and small enterprises in Indonesia. Research in International Business and Finance, 70, 102376. https://doi.org/10.1016/J.RIBAF.2024.102376
Akin, M. S. (2024). Enhancing e-commerce competitiveness: A comprehensive analysis of customer experiences and strategies in the Turkish market. Journal of Open Innovation: Technology, Market, and Complexity, 10(1), 100222. https://doi.org/10.1016/J.JOITMC.2024.100222
Al Hadwer, A., Tavana, M., Gillis, D., & Rezania, D. (2021). A systematic review of organizational factors impacting cloud-based technology adoption using technology-organization-environment framework. Internet of Things, 15, 100407. https://doi.org/10.1016/j.iot.2021.100407
Ali Abbasi, G., Abdul Rahim, N. F., Wu, H., Iranmanesh, M., & Keong, B. N. C. (2022). Determinants of SME's social media marketing adoption: Competitive industry as a moderator. SAGE Open, 12(1). https://doi.org/10.1177/21582440211067220
Aligarh, F., Sutopo, B., & Widarjo, W. (2023). The antecedents of cloud computing adoption and its consequences for MSMEs' performance: A model based on the Technology-Organization-Environment (TOE) framework. Cogent Business and Management, 10(2). https://doi.org/10.1080/23311975.2023.2220190
Alkharafi, N., Alsaber, A., & Alnajem, M. (2024). Exploring entrepreneurial orientation in an emerging economy. Journal of Innovation and Knowledge, 9(4). https://doi.org/10.1016/j.jik.2024.100553
Almasria, N. A., Alhatabat, Z., Ershaid, D., Ibrahim, A., & Ahmed, S. (2024). The mediating impact of organizational innovation on the relationship between fintech innovations and sustainability performance. Sustainability, 16(22). https://doi.org/10.3390/SU162210044
Alyoussef, I. Y. (2021). Factors influencing students' acceptance of M-learning in higher education: An application and extension of the UTAUT mod-el. Electronics, 10(24). https://doi.org/10.3390/electronics10243171
Alyoussef, I. Y. (2023). The impact of massive open online courses (MOOCs) on knowledge management using integrated innovation diffusion theory and the technology acceptance model. Education Sciences, 13(6). https://doi.org/10.3390/educsci13060531
Anderson, R. (2007). The credit scoring toolkit. Oxford University Press.
Anser, M. K., Naeem, M., Ali, S., Ali, S., & Javid, R. (2025). The relationship between artificial intelligence and environmental performance: The me-diating role of external environmental factors. Humanities and Social Sciences Communications, 12(1). https://doi.org/10.1057/S41599-025-05199-8
Anwar, I., Jamal, M. T., Saleem, I., & Thoudam, P. (2021). Traits and entrepreneurial intention: Testing the mediating role of entrepreneurial attitude and self-efficacy. Journal for International Business and Entrepreneurship Development, 13(1), 40–60. https://doi.org/10.1504/JIBED.2021.112276
Anwar, M. (2018). Business model innovation and SMEs performance-Does competitive advantage mediate? International Journal of Innovation Man-agement, 22(7). https://doi.org/10.1142/S1363919618500573
Arsawan, I. W. E., Hariyanti, N. K. D., Atmaja, I. M. A. D. S., Suhartanto, D., & Koval, V. (2022). Developing organizational agility in SMEs: An in-vestigation of innovation's roles and strategic flexibility. Journal of Open Innovation: Technology, Market, and Complexity, 8(3). https://doi.org/10.3390/joitmc8030146
Arthur, K. K., Bannor, R. K., Masih, J., Oppong-Kyeremeh, H., & Appiahene, P. (2024). Digital innovations: Implications for African agribusinesses. Smart Agricultural Technology, 7. https://doi.org/10.1016/j.atech.2024.100407
Asamoah, K. O., Adjeisah, M., Yeboah, M. A., King, R. R., Achaab, G. F., & Adjei, K. (2024). Adinkra symbol recognition using classical machine learning and deep learning. IEEE Workshop on Spoken Language Technology, SLT 2008 - Proceedings. https://doi.org/10.2139/ssrn.4836682
Athaide, G. A., Jeon, J., Raj, S. P., Sivakumar, K., & Xiong, G. (2024). Marketing innovations and digital technologies: A systematic review, proposed framework, and future research agenda. Journal of Product Innovation Management. https://doi.org/10.1111/JPIM.12741
Atmaja, H. E., Hartono, B., Lionora, C. A., Simamora, A. J., & Siharis, A. K. (2024). Organizational factors, quality performance and competitive ad-vantage of village-owned enterprise in Indonesia. TQM Journal. https://doi.org/10.1108/TQM-04-2023-0120
Avalos-Quispe, G. A., & Hernández-Simón, L. M. (2019). Open innovation in SMEs: Potential and realized absorptive capacity for interorganizational learning in dyad collaborations with academia. Journal of Open Innovation: Technology, Market, and Complexity, 5(3). https://doi.org/10.3390/joitmc5030072
Aytekin, A., Alan, H., Demirel, H., Onur, N., Yalman, A., Livberber, T., & Yiğit-Açıkgöz, F. (2025). Digital health technologies in patient experience literature: A scoping review and future outlook for sustainable digital health interventions. Sustainability, 17(2). https://doi.org/10.3390/SU17020456
Azeem, M., Aziz, S., Shahid, J., Hayat, A., Ahmed, M., & Khan, M. I. (2022). The impact of customer-centric business strategies on customer relation-ship management: Pharmaceutical field-force perspective. International Journal of Pharmaceutical and Healthcare Marketing, 16(1), 138–154. https://doi.org/10.1108/IJPHM-09-2020-0083
Ballerini, J., Herhausen, D., & Ferraris, A. (2023). How commitment and platform adoption drive the e-commerce performance of SMEs: A mixed-method inquiry into e-commerce affordances. International Journal of Information Management, 72, 102649. https://doi.org/10.1016/J.IJINFOMGT.2023.102649
Bamgbade, J. A., Nawi, M. N. M., Kamaruddeen, A. M., Adeleke, A. Q., & Salimon, M. G. (2022). Building sustainability in the construction industry through firm capabilities, technology and business innovativeness: Empirical evidence from Malaysia. International Journal of Construction Manage-ment, 22(3), 473–488. https://doi.org/10.1080/15623599.2019.1634666
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Benitez, J., Henseler, J., Castillo, A., & Schuberth, F. (2020). How to perform and report an impactful analysis using partial least squares: Guidelines for confirmatory and explanatory IS research. Information and Management, 57(2). https://doi.org/10.1016/j.im.2019.05.003
Bentler, P. M. (1990). Comparative fit indexes in structural models. Psychological Bulletin, 107(2), 238–246. https://doi.org/10.1037/0033-2909.107.2.238
Bharadwaj, A., El Sawy, O. A., Pavlou, P. A., & Venkatraman, N. (2013). Digital business strategy: Toward a next generation of insights. MIS Quarter-ly, 37(2), 471–482. https://doi.org/10.25300/MISQ/2013/37:2.3
Bharadwaj, A. S. (2000). A resource-based perspective on information technology capability and firm performance: An empirical investigation. MIS Quarterly, 24(1), 169–193. https://doi.org/10.2307/3250983
Bhatti, T. (2017). Influences on adoption of cloud-based ERP systems in SMEs: The technological-organizational-environmental framework. Corporate Ownership and Control, 15(1–2), 370–380. https://doi.org/10.22495/cocv15i1c2p6
Bin Naeem, S., Azam, M., Kamel Boulos, M. N., & Bhatti, R. (2024). Leveraging the TOE framework: Examining the potential of mobile health (mHealth) to mitigate health inequalities. Information, 15(4). https://doi.org/10.3390/info15040176
Bobrytskyy, S. (2024). Quantitative analysis of competencies from Glassdoor job descriptions: Digital marketing versus traditional marketing positions. Proceedings in Business and Economics, 2512(16). https://doi.org/10.18267/pr.2024.vol.2512.16
Boustani, N. M., & Chammaa, C. (2023). Youth adoption of innovative digital marketing and cross-cultural disparities. Administrative Sciences, 13(6). https://doi.org/10.3390/admsci13060151
Buvár, Á., & Gáti, M. (2023). Digital marketing adoption of microenterprises in a technology acceptance approach. Management & Marketing, 18(2), 145–162. https://doi.org/10.2478/mmcks-2023-0008
Cardoso-Andrade, M., Cruz-Jesus, F., Souza Troncoso, J., Queiroga, H., & M. S. Gonçalves, J. (2022). Understanding technological, cultural, and envi-ronmental motivators explaining the adoption of citizen science apps for coastal environment monitoring. Global Environmental Change, 77, 102606. https://doi.org/10.1016/j.gloenvcha.2022.102606
Chaikovska, M., Järvis, M., Zaiachkovska, H., Tchon, L., Bortnik, N., & Bannikova, K. (2022). Digital-marketing as a novel tool for goods and ser-vices promotion on social media: Contemporary trends and development directions. Financial and Credit Activity Problems of Theory and Practice, 4(45), 285–294. https://doi.org/10.55643/fcaptp.4.45.2022.3836
Chang, Y., Wang, X., & Arnett, D. B. (2018). Enhancing firm performance: The role of brand orientation in business-to-business marketing. Industrial Marketing Management, 72, 17–25. https://doi.org/10.1016/j.indmarman.2018.01.031
Christofi, M., Khan, H., Zahoor, N., Hadjielias, E., & Tarba, S. (2024). Digital transformation of SMEs: The role of entrepreneurial persistence and market sensing dynamic capability. IEEE Transactions on Engineering Management, 71, 13598–13615. https://doi.org/10.1109/TEM.2022.3230248
Cohen, A. D. (2023). In conversation with Andrew D. Cohen. System, 118, 103153. https://doi.org/10.1016/j.system.2023.103153
Cohen, J. (1992). A power primer. Psychological Bulletin, 112(1), 155–159. https://doi.org/10.1037/0033-2909.112.1.155
Cole, D. A., & Preacher, K. J. (2014). Manifest variable path analysis: Potentially serious and misleading consequences due to uncorrected measure-ment error. Psychological Methods, 19(2), 300–315. https://doi.org/10.1037/A0033805
D Jugend, C. J. J. S. R. R. J. J. H. L. M. S. (2018). Relationships among open innovation, innovative performance, government support and firm size: Comparing Brazilian firms embracing different levels of radicalism in innovation. Technovation, 74, 54–65. https://doi.org/10.1016/j.technovation.2018.02.004
Dabbous, A., & Boustani, N. M. (2023). Digital explosion and entrepreneurship education: Impact on promoting entrepreneurial intention for business students. Journal of Risk and Financial Management, 16(1). https://doi.org/10.3390/jrfm16010027
Dąbrowska, J., Almpanopoulou, A., Brem, A., Chesbrough, H., Cucino, V., Di Minin, A., Giones, F., Hakala, H., Marullo, C., Mention, A. L., Mortara, L., Nørskov, S., Nylund, P. A., Oddo, C. M., Radziwon, A., & Ritala, P. (2022). Digital transformation, for better or worse: A critical multi-level re-search agenda. R&D Management, 52(5), 930–954. https://doi.org/10.1111/RADM.12531
Davison, R. M., Wong, L. H., & Peng, J. (2023). The art of digital transformation as crafted by a chief digital officer. International Journal of Infor-mation Management, 69. https://doi.org/10.1016/j.ijinfomgt.2022.102617
Dhameria, V., Ghozali, I., Hidayat, A., & Aryanto, V. D. W. (2021). Networking capability, entrepreneurial marketing, competitive advantage, and marketing performance. Uncertain Supply Chain Management, 9(4), 941–948. https://doi.org/10.5267/J.USCM.2021.7.007
Dijkstra, T. K., & Henseler, J. (2015). Consistent partial least squares path modeling. MIS Quarterly, 39(2), 297–316. https://doi.org/10.25300/MISQ/2015/39.2.02
DiMaggio, P. J., & Powell, W. W. (1983). The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, 48(2), 147–160. https://doi.org/10.2307/2095101
Dimitrios, B., Ioannis, R., Ntalakos, A., & Nikolaos, T. (2023). Digital marketing: The case of digital marketing strategies on luxurious hotels. Procedia Computer Science, 219, 688–696. https://doi.org/10.1016/j.procs.2023.01.340
Discuteanu, C., & Cabon, J. (2019). Technological infrastructure. In Clinical Simulation (pp. 761–777). Elsevier. https://doi.org/10.1016/B978-0-12-815657-5.00050-4
Edvardsson, I. R., & Durst, S. (2022). Rethinking sustainability in human resource management. Sustainability, 14(11). https://doi.org/10.3390/SU14116545
El-Haddadeh, R. (2020). Digital innovation dynamics influence on organisational adoption: The case of cloud computing services. Information Sys-tems Frontiers, 22(4), 985–999. https://doi.org/10.1007/S10796-019-09912-2
El-Rayes, N., Chang, A., & Shi, J. (2023). Plastic management and sustainability: A data-driven study. Sustainability, 15(9). https://doi.org/10.3390/su15097181
Erena, O. T., Kalko, M. M., & Debele, S. A. (2023). Organizational factors, knowledge management and innovation: Empirical evidence from medium- and large-scale manufacturing firms in Ethiopia. Journal of Knowledge Management, 27(4), 1165–1207. https://doi.org/10.1108/JKM-11-2021-0861
Farrell, A. M. (2010). Insufficient discriminant validity: A comment on Bove, Pervan, Beatty, and Shiu (2009). Journal of Business Research, 63(3), 324–327. https://doi.org/10.1016/j.jbusres.2009.05.003
Fen, L. X., & Ping, T. A. (2024). Cloud computing adoption among Malaysian SMEs manufacturers: The role of relative advantage, complexity and cybersecurity readiness. 2024 2nd International Conference on Software Engineering and Information Technology, 336–341. https://doi.org/10.1109/ICOSEIT60086.2024.10497522
Fornell, C., & Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.1177/002224378101800104
Gagan Deep. (2023). Digital transformation's impact on organizational culture. International Journal of Science and Research Archive, 10(2), 396–401. https://doi.org/10.30574/ijsra.2023.10.2.0977
Gibson, D., Kovanovic, V., Ifenthaler, D., Dexter, S., & Feng, S. (2023). Learning theories for artificial intelligence promoting learning processes. Brit-ish Journal of Educational Technology, 54(5), 1125–1146. https://doi.org/10.1111/bjet.13341
Hadjielias, E., Christofi, M., Christou, P., & Hadjielia Drotarova, M. (2022). Digitalization, agility, and customer value in tourism. Technological Fore-casting and Social Change, 175. https://doi.org/10.1016/j.techfore.2021.121334
Hair, J., Anderson, R., Tatham, R., & Black, W. (2014). Multivariate data analysis (7th ed.). Cengage Learning.
Hair, J. F., Ringle, C. M., & Sarstedt, M. (2012). Partial least squares: The better approach to structural equation modeling? Long Range Planning, 45(5–6), 312–319. https://doi.org/10.1016/J.LRP.2012.09.011
Hair, J. F., & Sarstedt, M. (2019). Factors versus composites: Guidelines for choosing the right structural equation modeling method. Project Manage-ment Journal, 50(6), 619–624. https://doi.org/10.1177/8756972819882132
Hair, J. F., Sarstedt, M., & Ringle, C. M. (2019). Rethinking some of the rethinking of partial least squares. European Journal of Marketing, 53(4), 566–584. https://doi.org/10.1108/EJM-10-2018-0665
Hair, J. F., Sarstedt, M., Ringle, C. M., & Mena, J. A. (2012). An assessment of the use of partial least squares structural equation modeling in market-ing research. Journal of the Academy of Marketing Science, 40(3), 414–433. https://doi.org/10.1007/S11747-011-0261-6
Hayes, A. F. (2015). An index and test of linear moderated mediation. Multivariate Behavioral Research, 50(1), 1–22. https://doi.org/10.1080/00273171.2014.962683
Hayes, A. F. (2017). Introduction to mediation, moderation, and conditional process analysis: A regression-based approach. Guilford Publications.
Hayes, A. F. (2018). Partial, conditional, and moderated moderated mediation: Quantification, inference, and interpretation. Communication Mono-graphs, 85(1), 4–40. https://doi.org/10.1080/03637751.2017.1352100
Hayes, A. F., & Preacher, K. J. (2010). Quantifying and testing indirect effects in simple mediation models when the constituent paths are nonlinear. Multivariate Behavioral Research, 45(4), 627–660. https://doi.org/10.1080/00273171.2010.498290
Helfat, C. E. (2022). Strategic organization, dynamic capabilities, and the external environment. Strategic Organization, 20(4), 734–742. https://doi.org/10.1177/14761270221115377
Henseler, J. (2012). Why generalized structured component analysis is not universally preferable to structural equation modeling. Journal of the Acad-emy of Marketing Science, 40(3), 402–413. https://doi.org/10.1007/S11747-011-0298-6
Henseler, J. (2017). Partial least squares path modeling. In Advanced Methods for Modeling Markets (pp. 361–381). Springer.
Henseler, J., & Sarstedt, M. (2013). Goodness-of-fit indices for partial least squares path modeling. Computational Statistics, 28(2), 565–580. https://doi.org/10.1007/s00180-012-0317-1
Herhausen, D., Miočević, D., Morgan, R. E., & Kleijnen, M. H. P. (2020). The digital marketing capabilities gap. Industrial Marketing Management, 90, 276–290. https://doi.org/10.1016/j.indmarman.2020.07.022
Huemer, L., & Wang, X. (2021). Resource bundles and value creation: An analytical framework. Journal of Business Research, 134, 720–728. https://doi.org/10.1016/j.jbusres.2021.06.018
Imran, M., & Jingzu, G. (2022). Green organizational culture, organizational performance, green innovation, environmental performance: A mediation-moderation model. Journal of Asia-Pacific Business, 23(2), 161–182. https://doi.org/10.1080/10599231.2022.2072493
J Cohen, P. C. S. W. L. A. (1983). Applied multiple regression. Correl Anal Behav Sci, 2, 255–300.
Jabbari, J., Roll, S., Bufe, S., & Chun, Y. (2022). Cut me some slack! An exploration of slack resources and technology-mediated human capital in-vestments in entrepreneurship. International Journal of Entrepreneurial Behaviour and Research, 28(5), 1310–1346. https://doi.org/10.1108/IJEBR-10-2020-0731
Jackson, R. W., & Ferguson, G. A. (1941). Studies on the reliability of tests. University of Toronto Press.
Jha, S., & Venkatesh, V. (2023). Entrepreneurial satisfaction for women micro-entrepreneurs: A network perspective. Journal of Global Entrepreneur-ship Research, 13(5), 31–49. https://doi.org/10.1007/s40497-023-00351-7
Johnston, M., Dixon, D., Hart, J., Glidewell, L., Schröder, C., & Pollard, B. (2014). Discriminant content validity: A quantitative methodology for as-sessing content of theory-based measures, with illustrative applications. British Journal of Health Psychology, 19(2), 240–257. https://doi.org/10.1111/bjhp.12095
Kafetzopoulos, D. (2023). Environmental dynamism and sustainability: The mediating role of innovation, strategic flexibility and HR development. Management Decision, 61(6), 1697–1716. https://doi.org/10.1108/MD-06-2022-0759
Kamolsareeratana, A., & Kouwenberg, R. (2023). Compulsive gambling in the stock market: Evidence from an emerging market. Economies, 11(1). https://doi.org/10.3390/economies11010028
Kaneko, K., & Kajikawa, Y. (2025). Quantitative model of firms' weight using a gravity model in relative coordinates: Case study of photo film indus-try facing digital innovation. Journal of Informetrics, 19(3), 101676. https://doi.org/10.1016/J.JOI.2025.101676
Kimberly, J. R., & Evanisko, M. J. (1981). Organizational innovation: The influence of individual, organizational, and contextual factors on hospital adoption of technological and administrative innovations. Academy of Management Journal, 24(4), 689–713. https://doi.org/10.2307/256170
Kiran, A., Sri, N. D., Ayyasamy, R. K., Chinnasamy, P., Vellanki, S., & Vujwala, M. (2024). The future of online shopping: Blockchain-powered e-commerce platforms. 2024 International Conference on Signal Processing, Computation, Electronics, Power and Telecommunication, 1–6. https://doi.org/10.1109/ICONSCEPT61884.2024.10627920
Koberg, C. S., Detienne, D. R., & Heppard, K. A. (2003). An empirical test of environmental, organizational, and process factors affecting incremental and radical innovation. Journal of High Technology Management Research, 14(1), 21–45. https://doi.org/10.1016/S1047-8310(03)00003-8
Kock, N. (2015). Common method bias in PLS-SEM: A full collinearity assessment approach. International Journal of E-Collaboration, 11(4), 1–10. https://doi.org/10.4018/IJEC.2015100101
Kohli, R., & Melville, N. P. (2019). Digital innovation: A review and synthesis. Information Systems Journal, 29(1), 200–223. https://doi.org/10.1111/ISJ.12193
Kong, S. C., Cheung, M. Y. W., & Tsang, O. (2024). Developing an artificial intelligence literacy framework: Evaluation of a literacy course for senior secondary students using a project-based learning approach. Computers and Education: Artificial Intelligence, 6. https://doi.org/10.1016/j.caeai.2024.100214
Konopik, J., Jahn, C., Schuster, T., Hoßbach, N., & Pflaum, A. (2022). Mastering the digital transformation through organizational capabilities: A con-ceptual framework. Digital Business, 2(2). https://doi.org/10.1016/J.DIGBUS.2021.100019
Korucuk, S., Aytekin, A., Ecer, F., Karamaşa, Ç., & Zavadskas, E. K. (2022). Assessing green approaches and digital marketing strategies for twin tran-sition via Fermatean fuzzy SWARA-COPRAS. Axioms, 11(12), 709. https://doi.org/10.3390/AXIOMS11120709
Kowshik, S. T. H., Chew, E. Y. T., & Lee, S. W. H. (2025). Knowledge transfer as a dynamic capability: A meta-analysis of its impact on organization-al outcomes in international contexts. Knowledge Management Research & Practice, 1–16. https://doi.org/10.1080/14778238.2025.2519291
Kraus, S., Durst, S., Ferreira, J. J., Veiga, P., Kailer, N., & Weinmann, A. (2022). Digital transformation in business and management research: An overview of the current status quo. International Journal of Information Management, 63, 102466. https://doi.org/10.1016/J.IJINFOMGT.2021.102466
Kristoffersen, E., Blomsma, F., Mikalef, P., & Li, J. (2020). The smart circular economy: A digital-enabled circular strategies framework for manufac-turing companies. Journal of Business Research, 120, 241–261. https://doi.org/10.1016/J.JBUSRES.2020.07.044
Kumar, R., Aljuhani, A., Javeed, D., Kumar, P., Islam, S., & Islam, A. K. M. N. (2024). Digital twins-enabled zero touch network: A smart contract and explainable AI integrated cybersecurity framework. Future Generation Computer Systems, 156, 191–205. https://doi.org/10.1016/j.future.2024.02.015
Lee, S.-H., & Workman, J. (2020). How do face consciousness and public self-consciousness affect consumer decision-making? Journal of Open In-novation: Technology, Market, and Complexity, 6(4). https://doi.org/10.3390/joitmc6040144
Liu, H., Choi, C. S., & Kim, K. H. (2024). Roles of value co-creation on social platforms in driving participating businesses' sustainable competitive advantage and performance. Asia Pacific Journal of Marketing and Logistics. https://doi.org/10.1108/APJML-01-2024-0007
Lopes, J., Oliveira, M., Silveira, P., Farinha, L., & Oliveira, J. (2021). Business dynamism and innovation capacity, an entrepreneurship worldwide per-spective. Journal of Open Innovation: Technology, Market, and Complexity, 7(1). https://doi.org/10.3390/joitmc7010094
Lynch, T., Ryan, C., Presseau, J., Foster, D. E., Huff, C., Bennett, K., & Cadogan, C. (2024). Development and validation of a theory-based question-naire examining barriers and facilitators to discontinuing long-term benzodiazepine receptor agonist use. Research in Social and Administrative Phar-macy, 20(2), 163–171. https://doi.org/10.1016/j.sapharm.2023.10.015
MacKenzie, S. B., Podsakoff, P. M., & Podsakoff, N. P. (2011). Construct measurement and validation procedures in MIS and behavioral research: Integrating new and existing techniques. MIS Quarterly, 35(2), 293–334. https://doi.org/10.2307/23044045
MacKinnon, D. P., Coxe, S., & Baraldi, A. N. (2012). Guidelines for the investigation of mediating variables in business research. Journal of Business and Psychology, 27(1), 1–14. https://doi.org/10.1007/S10869-011-9248-Z
Maghyereh, A., & Abdoh, H. (2021). Time–frequency quantile dependence between Bitcoin and global equity markets. North American Journal of Economics and Finance, 56. https://doi.org/10.1016/J.NAJEF.2020.101355
Mahakittikun, T., Suntrayuth, S., & Bhatiasevi, V. (2021). The impact of technological-organizational-environmental (TOE) factors on firm perfor-mance: Merchant's perspective of mobile payment from Thailand's retail and service firms. Journal of Asia Business Studies, 15(2), 359–383. https://doi.org/10.1108/JABS-01-2020-0012
Malik, S., Chadhar, M., Vatanasakdakul, S., & Chetty, M. (2021). Factors affecting the organizational adoption of blockchain technology: Extending the technology–organization–environment (TOE) framework in the Australian context. Sustainability, 13(16), 9404. https://doi.org/10.3390/SU13169404
Malope, E. T., van der Poll, J. A., & Ncube, O. (2021). Digitalisation practices in South-African state-owned enterprises: A framework for rapid adop-tion of digital solutions. Proceedings of the Annual Hawaii International Conference on System Sciences, 2020-January, 4590–4599. https://doi.org/10.24251/HICSS.2021.557
McKinsey. (2023). How Indonesia's ecommerce can drive economic development. https://www.mckinsey.com/featured-insights/asia-pacific/the-digital-archipelago-how-online-commerce-is-driving-indonesias-economic-development
Melović, B., Jocović, M., Dabić, M., Vulić, T. B., & Dudic, B. (2020). The impact of digital transformation and digital marketing on the brand promo-tion, positioning and electronic business in Montenegro. Technology in Society, 63. https://doi.org/10.1016/j.techsoc.2020.101425
Miao, Y., Li, Y., & Wu, Y. (2024). Digital economy and economic competitive pressure on local governments: Evidence from China. Economic Mod-elling, 140, 106859. https://doi.org/10.1016/J.ECONMOD.2024.106859
Molina-Castillo, F. J., Meroño-Cerdan, A. L., & López-Nicolás, C. (2020). Impact of business model objectives on marketing innovation activities: A comparison between manufacturing and service firms. European Journal of Innovation Management, 23(1), 177–195. https://doi.org/10.1108/EJIM-12-2018-0259
Moreno, V., Cavazotte, F., & Cesar Valentim Alves, C. (2023). From managerial to organizational dynamic capabilities: Enabling adaptability in turbu-lent times. Academy of Management Proceedings, 2023(1). https://doi.org/10.5465/AMPROC.2023.15763ABSTRACT
Mottaleb, K. A. (2018). Perception and adoption of a new agricultural technology: Evidence from a developing country. Technology in Society, 55, 126–135. https://doi.org/10.1016/j.techsoc.2018.07.007
Mouazen, A. M., & Hernández-Lara, A. B. (2023). Entrepreneurial ecosystem, gig economy practices and women's entrepreneurship: The case of Leb-anon. International Journal of Gender and Entrepreneurship, 15(3), 249–274. https://doi.org/10.1108/IJGE-07-2022-0116
Mughal, M. A., Ullah, A., Yu, X., He, W., Jhanjhi, N. Z., & Ray, S. K. (2024). A secure and privacy preserved data aggregation scheme in IoMT. Heli-yon, 10(7), e27177. https://doi.org/10.1016/j.heliyon.2024.e27177
Nadányiová, M., Majerová, J., & Gajanová, Ľ. (2021). Digital marketing, competitive advantage, marketing communication, social media, consumers. Marketing and Management of Innovations, 4, 91–102. https://doi.org/10.21272/mmi.2021.4-08
Nambisan, S., Wright, M., & Feldman, M. (2019). The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes. Research Policy, 48(8), 103773. https://doi.org/10.1016/j.respol.2019.03.018
Naskar, S. T., Hota, P. K., & Gupta, V. (2025). The efficiency paradox: How high-performance work systems interact with entrepreneurial orientation in hostile environments to impact firm performance in US firms. International Entrepreneurship and Management Journal, 21(1). https://doi.org/10.1007/S11365-025-01069-6
Nguyen, T. A. (2022). Financial development, human resources, and economic growth in transition countries. Economies, 10(6). https://doi.org/10.3390/economies10060138
Nuseir, M., & Refae, G. A. El. (2022). The effect of digital marketing capabilities on business performance enhancement: Mediating the role of cus-tomer relationship management (CRM). International Journal of Data and Network Science, 6(2), 295–304. https://doi.org/10.5267/j.ijdns.2022.1.008
Obiakor, R. T., Uche, E., & Das, N. (2022). Is structural innovativeness a panacea for healthier environments? Evidence from developing countries. Technology in Society, 70. https://doi.org/10.1016/j.techsoc.2022.102033
Oduro, S., De Nisco, A., & Mainolfi, G. (2023). Do digital technologies pay off? A meta-analytic review of the digital technologies/firm performance nexus. Technovation, 128. https://doi.org/10.1016/J.TECHNOVATION.2023.102836
Okorie Awa, H., Ukoha, O., & Emecheta, B. (2012). Integrating TAM and TOE frameworks and expanding their characteristic constructs for e-commerce adoption by SMEs. Proceedings of the 2012 InSITE Conference, 571–588. https://doi.org/10.28945/1676
Oliveira-Dias, D. de, Maqueira Marín, J. M., & Moyano-Fuentes, J. (2022). Lean and agile supply chain strategies: The role of mature and emerging information technologies. International Journal of Logistics Management, 33(5), 221–243. https://doi.org/10.1108/IJLM-05-2022-0235
Oyewole, O. J., Al-Faryan, M. A. S., Adekoya, O. B., & Oliyide, J. A. (2024). Energy efficiency, financial inclusion, and socio-economic outcomes: Evidence across advanced, emerging, and developing countries. Energy, 289. https://doi.org/10.1016/j.energy.2023.130062
Palacios-Fenech, J., & E, V. (2023). Measuring the adoption and discontinuance of low carbon digitally-enabled innovations: Exploring repeat survey quality. Journal of Cleaner Production, 423, 140311. https://doi.org/10.1016/j.jclepro.2023.140311
Pascucci, F., Savelli, E., & Gistri, G. (2023). How digital technologies reshape marketing: Evidence from a qualitative investigation. Italian Journal of Marketing, 2023, 27–58. https://doi.org/10.1007/s43039-023-00063-6
Pateli, A., Mylonas, N., & Spyrou, A. (2020). Organizational adoption of social media in the hospitality industry: An integrated approach based on DIT and TOE frameworks. Sustainability, 12(17). https://doi.org/10.3390/su12177132
Podsakoff, P. M., MacKenzie, S. B., Lee, J.-Y., & Podsakoff, N. P. (2003). Common method biases in behavioral research: A critical review of the literature and recommended remedies. Journal of Applied Psychology, 88(5), 879–903. https://doi.org/10.1037/0021-9010.88.5.879
Podsakoff, P. M., MacKenzie, S. B., & Podsakoff, N. P. (2012). Sources of method bias in social science research and recommendations on how to control it. Annual Review of Psychology, 63, 539–569. https://doi.org/10.1146/annurev-psych-120710-100452
Podsakoff, P. M., Podsakoff, N. P., Williams, L. J., Huang, C., & Yang, J. (2024). Common method bias: It's bad, it's complex, it's widespread, and it's not easy to fix. Annual Review of Organizational Psychology and Organizational Behavior, 11, 17–61. https://doi.org/10.1146/ANNUREV-ORGPSYCH-110721-040030
Preacher, K. J., & Hayes, A. F. (2008). Asymptotic and resampling strategies for assessing and comparing indirect effects in multiple mediator models. Behavior Research Methods, 40(3), 879–891. https://doi.org/10.3758/BRM.40.3.879
Pueyo-Garrigues, M., Agüera, Z., Andrés, A., Lluch-Canut, M. T., Tricas-Sauras, S., Duaso, M. J., Feliu, A., Pardavila-Belio, M. I., Antón, L., Cornejo-Ovalle, M., Puig-Llobet, M., Moreno-Arroyo, C., Barroso, T., Roca, J., & Martínez, C. (2023). Knowledge, attitudes, behavioral and organizational fac-tors of health professions students for a competent smoking cessation practice: An instrument adaptation and psychometric validation study in Spanish and English samples. Nurse Education in Practice, 70, 103647. https://doi.org/10.1016/j.nepr.2023.103647
Qalati, S. A., Ostic, D., Sulaiman, M. A. B. A., Gopang, A. A., & Khan, A. (2022). Social media and SMEs' performance in developing countries: Ef-fects of technological-organizational-environmental factors on the adoption of social media. SAGE Open, 12(2). https://doi.org/10.1177/21582440221094594
Rahman, M. M., & Hossain, M. E. (2025). Digital dynamics in technology adoption: Exploring socio-economic development through technology and education. Technology in Society, 82, 102906. https://doi.org/10.1016/J.TECHSOC.2025.102906
Rasaputhra, S., Peiris, V., Magallagoda, R., Panditasekara, C., Wisenthige, K., & Jayasuriya, N. (2024). Do technological, environmental and entrepre-neurial factors affect social commerce adoption? Journal of Small Business and Enterprise Development, 31(4), 764–785. https://doi.org/10.1108/JSBED-09-2023-0420
Rebiazina, V., Sharko, E., & Berezka, S. (2024). The impact of relationship marketing practices on companies' market and financial performance in emerging markets. Journal of Economics, Finance and Administrative Science, 29(57), 186–204. https://doi.org/10.1108/JEFAS-01-2022-0034/FULL/PDF
Reinartz, W., Haenlein, M., & Henseler, J. (2009). An empirical comparison of the efficacy of covariance-based and variance-based SEM. Internation-al Journal of Research in Marketing, 26(4), 332–344. https://doi.org/10.1016/j.ijresmar.2009.08.001
Ren, Q. (2025). Toward circular economy: Digital-enabled circular economy practices enhancing the European enterprise's performance. Sustainable Development. https://doi.org/10.1002/SD.3517
Rutherford, G. S. W., Hair, J. F., Hair, J. F., Anderson, R. E., & Tatham, R. L. (1979). Multivariate data analysis with readings. Macmillan.
Sahu, G., & Singh, S. (2023). Ecommerce an emerging platform to boost global economy. International Journal For Multidisciplinary Research, 5(1), 1–16. https://doi.org/10.36948/ijfmr.2023.v05i01.1728
Samadbeik, M., Aslani, N., Maleki, M., & Garavand, A. (2023). Acceptance of mobile health in medical sciences students: Applying technology ac-ceptance model. Informatics in Medicine Unlocked, 40, 101290. https://doi.org/10.1016/j.imu.2023.101290
Sanchez, R., & Shibata, T. (2021). Modularity design rules for architecture development: Theory, implementation, and evidence from the development of the Renault–Nissan Alliance "Common Module Family" architecture. Journal of Open Innovation: Technology, Market, and Complexity, 7(4). https://doi.org/10.3390/joitmc7040242
Sarstedt, M. (2008). A review of recent approaches for capturing heterogeneity in partial least squares path modelling. Journal of Modelling in Man-agement, 3(2), 140–161. https://doi.org/10.1108/17465660810890126
Sarstedt, M., Hair, J. F., & Ringle, C. M. (2023). "PLS-SEM: indeed a silver bullet"–retrospective observations and recent advances. Journal of Market-ing Theory and Practice, 31(3), 261–275. https://doi.org/10.1080/10696679.2022.2056488
Sarstedt, M., Ringle, C. M., Cheah, J. H., Ting, H., Moisescu, O. I., & Radomir, L. (2020). Structural model robustness checks in PLS-SEM. Tourism Economics, 26(4), 531–554. https://doi.org/10.1177/1354816618823921
Sarstedt, M., Ringle, C. M., Henseler, J., & Hair, J. F. (2014). On the emancipation of PLS-SEM: A commentary on Rigdon (2012). Long Range Plan-ning, 47(3), 154–160. https://doi.org/10.1016/j.lrp.2014.02.007
Satyro, W. C., Contador, J. C., Gomes, J. A., Monken, S. F. de P., Barbosa, A. P., Bizarrias, F. S., Contador, J. L., Silva, L. S., & Prado, R. G. (2024). Technology-Organization-External-Sustainability (TOES) framework for technology adoption: Critical analysis of models for Industry 4.0 implementa-tion projects. Sustainability, 16(24), 11064. https://doi.org/10.3390/SU162411064
Scaliza, J. A. A., Jugend, D., Chiappetta Jabbour, C. J., Latan, H., Armellini, F., Twigg, D., & Andrade, D. F. (2022). Relationships among organiza-tional culture, open innovation, innovative ecosystems, and performance of firms: Evidence from an emerging economy context. Journal of Business Research, 140, 264–279. https://doi.org/10.1016/J.JBUSRES.2021.10.065
Schamberger, T., Schuberth, F., & Henseler, J. (2023). Confirmatory composite analysis in human development research. International Journal of Be-havioral Development, 47(1), 89–100. https://doi.org/10.1177/01650254221117506
Seshadrinathan, S., & Chandra, S. (2021). Exploring factors influencing adoption of blockchain in accounting applications using Technology–Organization–Environment framework. Journal of International Technology and Information Management, 30(1), 30–68. https://doi.org/10.58729/1941-6679.1477
Sharma, A., & Sharma, S. (2024). Adoption of digital marketing in tourism SMEs: A review and research agenda. Management Research Review, 47(7), 1077–1095. https://doi.org/10.1108/MRR-08-2021-0597
Sharma, P. N., Shmueli, G., Sarstedt, M., Danks, N., & Ray, S. (2021). Prediction-oriented model selection in partial least squares path modeling. Deci-sion Sciences, 52(3), 567–607. https://doi.org/10.1111/DECI.12329
Shmueli, G., & Koppius, O. R. (2011). Predictive analytics in information systems research. MIS Quarterly, 35(3), 553–572. https://doi.org/10.2307/23042796
[158] Shmueli, G., Sarstedt, M., Hair, J. F., Cheah, J. H., Ting, H., Vaithilingam, S., & Ringle, C. M. (2019). Predictive model assessment in PLS-SEM: Guidelines for using PLSpredict. European Journal of Marketing, 53(11), 2322–2347. https://doi.org/10.1108/EJM-02-2019-0189
Sinulingga, G. (2024). The mediating effect of customer relationship management on trust and satisfaction relationships (Survey of credit card holder customers in Indonesia). Evolutionary Studies in Imaginative Culture, 8(2), 349–357. https://doi.org/10.70082/ESICULTURE.VI.695
Škare, M., & Porada-Rochoń, M. (2020). Multi-channel singular-spectrum analysis of financial cycles in ten developed economies for 1970–2018. Journal of Business Research, 112, 567–575. https://doi.org/10.1016/j.jbusres.2019.10.047
Slomski, V. G., Tavares de Souza Junior, A. V, Lavarda, C. E., Simão Kaveski, I. D., Slomski, V., Frois de Carvalho, R., & Fontes de Souza Vascon-celos, A. L. (2024). Environmental factors, personal factors, and the entrepreneurial intentions of university students from the perspective of the theory of planned behavior: Contributions to a sustainable vision of entrepreneurship in the business area. Sustainability, 16(13). https://doi.org/10.3390/su16135304
Smith, D., Hair, J. F., & Ferguson, K. (2014). An investigation of the effect of family influence on commitment-trust in retailer-vendor strategic part-nerships. Journal of Family Business Strategy, 5(3), 252–263. https://doi.org/10.1016/j.jfbs.2013.11.005
Söling, S., Köberlein-Neu, J., Müller, B. S., Dinh, T. S., Muth, C., Pfaff, H., Karbach, U., Kellermann-Mühlhoff, P., Düvel, L., Beckmann, T., Ham-merschmidt, R., Jachmich, J., Leicher, E., Brandt, B., Richard, J., Meyer, F., Flume, M., Müller, T., Gerlach, F. M., & Grandt, S. (2020). From sensitiza-tion to adoption? A qualitative study of the implementation of a digitally supported intervention for clinical decision making in polypharmacy. Imple-mentation Science, 15(1), 1–12. https://doi.org/10.1186/s13012-020-01043-6
Soomro, B. A., Mangi, S., & Shah, N. (2020). Strategic factors and significance of organizational innovation and organizational learning in organiza-tional performance. European Journal of Innovation Management, 24(2), 481–506. https://doi.org/10.1108/EJIM-05-2019-0114
Stroumpoulis, A., & Kopanaki, E. (2022). Theoretical perspectives on sustainable supply chain management and digital transformation: A literature review and a conceptual framework. Sustainability, 14(8). https://doi.org/10.3390/su14084862
Taherdoost, H., Mohamed, N., & Madanchian, M. (2024). Navigating technology adoption/acceptance models. Procedia Computer Science, 237, 833–840. https://doi.org/10.1016/j.procs.2024.05.172
Tatua, J. (2023). Relationship between firm readiness and the adoption of digitalized marketing operations tactics by chain supermarkets in Kenya. In-ternational Journal of Strategic Marketing Practice, 5(1), 1–19. https://doi.org/10.47604/ijsmp.2171
Teece, D. J. (2018). Dynamic capabilities as (workable) management systems theory. Journal of Management and Organization, 24(3), 359–368. https://doi.org/10.1017/JMO.2017.75
Teece, D. J. (2020). Hand in glove: Open innovation and the dynamic capabilities framework. Strategic Management Review, 1(2), 233–253.
Tian, M., Deng, P., Zhang, Y., & Salmador, M. P. (2018). How does culture influence innovation? A systematic literature review. Management Deci-sion, 56(5), 1088–1107. https://doi.org/10.1108/MD-05-2017-0462
Tornatzky, L., & Fleischer, M. (1990). The process of technology innovation. Lexington Books.
Tornatzky, L. G. (1992). The processes of technological innovation. Technology Transfer, 5–7.
Tornatzky, L. G., Tornatzky, L. G., Fleischer, M., Fleischer, Mitchell., Chakrabarti, A., & Chakrabarti, A. K. (1990). Processes of technological innova-tion. Lexington Books.
Tracy Francis. (2018, October 12). Generation Z characteristics and its implications for companies. McKinsey. https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/true-gen-generation-z-and-its-implications-for-companies
Tripathi, A., Sardar, S., & Shyam, H. S. (2023). Hybrid crops, income, and food security of smallholder families: Empirical evidence from poor states of India. Technological Forecasting and Social Change, 191, 122532. https://doi.org/10.1016/j.techfore.2023.122532
Troiville, J., Hair, J. F., & Cliquet, G. (2019). Definition, conceptualization and measurement of consumer-based retailer brand equity. Journal of Re-tailing and Consumer Services, 50, 73–84. https://doi.org/10.1016/j.jretconser.2019.04.022
Umami, Z., & Darma, G. S. (2021). Digital marketing: Engaging consumers with smart digital marketing content. Jurnal Manajemen Dan Kewirausahaan, 23(2), 94–103. https://doi.org/10.9744/jmk.23.2.94-103
Venkatesh, V. (1999). Creation of favorable user perceptions: Exploring the role of intrinsic motivation. MIS Quarterly, 23(2), 239–260. https://doi.org/10.2307/249753
Venkatesh, V. (2000). Determinants of perceived ease of use: Integrating control, intrinsic motivation, and emotion into the technology acceptance model. Information Systems Research, 11(4), 342–365. https://doi.org/10.1287/ISRE.11.4.342.11872
[180] Venkatesh, V. (2022). Adoption and use of AI tools: A research agenda grounded in UTAUT. Annals of Operations Research, 308(1), 641–652. https://doi.org/10.1007/s10479-021-04049-4
Venkatesh, V., Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly, 27(3), 425–478. https://doi.org/10.2307/30036540
Voorhees, C. M., Brady, M. K., Calantone, R., & Ramirez, E. (2016). Discriminant validity testing in marketing: An analysis, causes for concern, and proposed remedies. Journal of the Academy of Marketing Science, 44(1), 119–134. https://doi.org/10.1007/s11747-015-0455-4
Xie, Y., Desouza, K. C., & Jabbari, M. (2023). On organizational robustness: A conceptual framework. Journal of Contingencies and Crisis Manage-ment, 31(1), 105–120. https://doi.org/10.1111/1468-5973.12423
Yang, F., Ren, L., & Gu, C. (2022). A study of college students' intention to use metaverse technology for basketball learning based on UTAUT2. Heliyon, 8(9). https://doi.org/10.1016/j.heliyon.2022.e10562
Yin, R. K. (2013). Validity and generalization in future case study evaluations. Evaluation, 19(3), 321–332. https://doi.org/10.1177/1356389013497081
Zaman, S. A. A., Vilkas, M., Zaman, S. I., & Jamil, S. (2024). Digital technologies and digitalization performance: The mediating role of digitalization management. Journal of Manufacturing Technology Management. https://doi.org/10.1108/JMTM-04-2024-0176
Zhang, B., Ying, L., Khan, M. A., Ali, M., Barykin, S., & Jahanzeb, A. (2023). Sustainable digital marketing: Factors of adoption of M-technologies by older adults in the Chinese market. Sustainability, 15(3). https://doi.org/10.3390/su15031972
Zhang, F., & Zhu, L. (2019). Enhancing corporate sustainable development: Stakeholder pressures, organizational learning, and green innovation. Business Strategy and the Environment, 28(6), 1012–1026. https://doi.org/10.1002/BSE.2298
Zhang, M., Cheng, R., Fei, J., & Khanal, R. (2024). Enhancing digital innovation ecosystem resilience through the interplay of organizational, techno-logical, and environmental factors: A study of 31 provinces in China using NCA and fsQCA. Sustainability, 16(5). https://doi.org/10.3390/su16051946
Zhao, J., Wang, X., Yao, X., & Xi, X. (2024). Digital-intelligence transformation, for better or worse? The roles of pace, scope and rhythm. Internet Research. https://doi.org/10.1108/INTR-12-2023-1125
Zhao, R., Hou, W., Kumar, V., & Kumar, A. (2023). Signalling effects of doing good in global ICO markets. Journal of Business Research, 168. https://doi.org/10.1016/j.jbusres.2023.114224
Zhou, C., Li, H., Zhang, L., & Ren, Y. (2023). Optimal recommendation strategies for AI-powered e-commerce platforms: A study of duopoly manu-facturers and market competition. Journal of Theoretical and Applied Electronic Commerce Research, 18(2), 1086–1106. https://doi.org/10.3390/jtaer18020055#