The Effect of Big Data on Firm Value: The Mediation Roles of Innovation and Financial Performances

Companies that have high growth indicators for liquidity, stock, and return on assets are more desirable to investors and shareholders. Successful managers are thus limited to using financial indicators to convey the value of the firm. Big data can now be the source of innovation and monetary success. Technology, rivals, market and customer data, and these sources of information give businesses hints about emerging competitive attitudes. Therefore, there will be valuable companies that innovate by absorbing new knowledge and data through big data and improving financial performance.

Content

Author and article information

Journal

Title: ScienceOpen Preprints

Publisher: ScienceOpen

Publication date (Electronic preprint): 3 December 2022

Affiliations

[1 ] Department of Management, Buin Zahra Branch, Islamic Azad University, Buin Zahra, Iran

[2 ] Department of Management, E-Branch, Islamic Azad University (IAU), Tehran, Iran

Author notes

[* ]Email: mohsen.ejrami@ 123456yahoo.com .

Author information

Mohsen Ejrami https://orcid.org/0000-0002-1651-9830

Nader Salehi https://orcid.org/0000-0001-5424-1801

Article

DOI: 10.14293/S2199-1006.1.SOR-.PPJI5NI.v1

SO-VID: 1d0541b9-91d1-4bb7-9637-49540a606cfa

License:

This work has been published open access under Creative Commons Attribution License CC BY 4.0 , which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Conditions, terms of use and publishing policy can be found at www.scienceopen.com .

History

Date received : 3 December 2022

References

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Mafakhir Shaleh Achmad Achsan Zainul, Kurniasih Augustina. The Determinants of Insurance Firm Value with Enterprise Risk Management (ERM) as Intervening Variabel. Risk and Financial Management. Vol. 3(2)2021. Ideas Spread. [Cross Ref]
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Al-lozi Enas, Alfityani Amjed, Alsmadi Ayman Abdalmajeed, Al_Hazimeh Amer Moh'd, Al-Gasawneh Jassim Ahmad. The role of big data in financial sector: A review paper. International Journal of Data and Network Science. Vol. 6(4):1319–1330. 2022. Growing Science. [Cross Ref]
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Alkatheeri Yazeed, Ameen Ali, Isaac Osama, Nusari Mohammed, Duraisamy Balaganesh, Khalifa Gamal S. A.. The Effect of Big Data on the Quality of Decision-Making in Abu Dhabi Government OrganisationsData Management, Analytics and Innovation. p. 231–248. 2020. Springer Singapore. [Cross Ref]
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Belhadi Amine, Kamble Sachin S., Zkik Karim, Cherrafi Anass, Touriki Fatima Ezahra. The integrated effect of Big Data Analytics, Lean Six Sigma and Green Manufacturing on the environmental performance of manufacturing companies: The case of North Africa. Journal of Cleaner Production. Vol. 252:2020. Elsevier BV. [Cross Ref]
Capurro Rosita, Fiorentino Raffaele, Garzella Stefano, Giudici Alessandro. Big data analytics in innovation processes: which forms of dynamic capabilities should be developed and how to embrace digitization? European Journal of Innovation Management. Vol. 25(6):273–294. 2021. Emerald. [Cross Ref]
Cooper Michael, Knott Anne Marie, Yang Wenhao. RQ Innovative Efficiency and Firm Value. Journal of Financial and Quantitative Analysis. Vol. 57(5):1649–1694. 2022. Cambridge University Press (CUP). [Cross Ref]
Delfino Barilla Cinzia, Lastarria Reynoso Lucia. How can Big Data contribute to improve the financial performance of companies? Revista Mexicana de Economía y Finanzas. Vol. 15(SNEA):589–598. 2020. Instituto Mexicano de Ejecutivos de Finanzas, A.C. (IMEF). [Cross Ref]
Dewi Melinda, Foanto Gabriella Natasya, Christiawan Yulius Jogi. Profitability, Liquidity, and Firm Value: Does Financial Distress Have a Mediating Effect? Advances in Economics, Business and Management Research. 2021. Atlantis Press. [Cross Ref]
Effendi Bahtiar. The Impact of Environmental Performance on Firm Value: Evidence from Indonesia. Advances in Economics, Business and Management Research. 2021. Atlantis Press. [Cross Ref]
Gautam Madhusudan. Perception towards Firm Value in Nepalese Banking Sector. Management Dynamics. Vol. 24(1):95–106. 2021. Nepal Journals Online (JOL). [Cross Ref]
Ghasemaghaei Maryam, Calic Goran. Assessing the impact of big data on firm innovation performance: Big data is not always better data. Journal of Business Research. Vol. 108:147–162. 2020. Elsevier BV. [Cross Ref]
Gök Osman, Peker Sinem. Understanding the links among innovation performance, market performance and financial performance. Review of Managerial Science. Vol. 11(3):605–631. 2017. Springer Science and Business Media LLC. [Cross Ref]
Haoxiang Wang, S Smys. Big Data Analysis and Perturbation using Data Mining Algorithm. March 2021. Vol. 3(1):19–28. 2021. Inventive Research Organization. [Cross Ref]
Harahap Irwan Mangara, Septiani Ivana, Endri Endri. Effect of financial performance on firms’ value of cable companies in Indonesia. Accounting. 1103–1110. 2020. Growing Science. [Cross Ref]
Hasan Md. Morshadul, Popp József, Oláh Judit. Current landscape and influence of big data on finance. Journal of Big Data. Vol. 7(1)2020. Springer Science and Business Media LLC. [Cross Ref]
Huang Zhi-xiong, Savita K.S., Zhong-jie Jiang. The Business Intelligence impact on the financial performance of start-ups. Information Processing & Management. Vol. 59(1)2022. Elsevier BV. [Cross Ref]
Iswajuni Iswajuni, Manasikana Arina, Soetedjo Soegeng. The effect of enterprise risk management (ERM) on firm value in manufacturing companies listed on Indonesian Stock Exchange year 2010-2013. Asian Journal of Accounting Research. Vol. 3(2):224–235. 2018. Emerald. [Cross Ref]
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Khatri Arun, Singh NP, Gupta Nakul. Big data analytics: direction and impact on financial technology. Pressacademia. Vol. 14(4):218–234. 2021. Pressacademia. [Cross Ref]
Komara Acep, Ghozali Imam, Januarti Indira. Examining the Firm Value Based on Signaling Theory. Proceedings of the 1st International Conference on Accounting, Management and Entrepreneurship (ICAMER 2019). 2020. Atlantis Press. [Cross Ref]
Lin Shunzhi, Lin Jiabao, Han Feiyun, Luo Xin (Robert). How big data analytics enables the alliance relationship stability of contract farming in the age of digital transformation. Information & Management. Vol. 59(6)2022. Elsevier BV. [Cross Ref]
Ma Qianhui, Ju Lan, Zhang Zishi. Innovation Input and Firm Value: Based on the Moderating Effect of Internal Control. Sustainability. Vol. 14(18)2022. MDPI AG. [Cross Ref]
Manurung Elon, Effrida E., Gondowonto Andreas James. EFFECT OF FINANCIAL PERFORMANCE, GOOD CORPORATE GOVERNANCE AND CORPORATE SIZE ON CORPORATE VALUE IN FOOD AND BEVERAGES. International Journal of Economics and Financial Issues. Vol. 9(6):100–105. 2019. EconJournals. [Cross Ref]
Nafasati Febrina, Hilal Muhammad. THE EFFECT OF FINANCIAL PERFORMANCE ON FIRM VALUE WITH CORPORATE SOCIAL RESPONSIBILITY AS MODERATED VARIABLES. Economics and Business Solutions Journal. Vol. 5(1)2021. Universitas Semarang. [Cross Ref]
Narteh Bedman. Brand equity and financial performance. Marketing Intelligence & Planning. Vol. 36(3):381–395. 2018. Emerald. [Cross Ref]
Nejjari Zakaria, Aamoum Hanane. Big Data Analytics Influence on Financial Performance and Market Value: Intellectual Capital as a Proxy. E3S Web of Conferences. Vol. 229:2021. EDP Sciences. [Cross Ref]
Nejjari Zakaria, Aamoum Hanane. Big Data Analytics Influence on Financial Performance and Market Value: Intellectual Capital as a Proxy. E3S Web of Conferences. Vol. 229:2021. EDP Sciences. [Cross Ref]
Nurhayati Ida, Sudiyatno Bambang, Puspitasari Elen, Basiya Robertus. Moderating effect of firm performance on firm value: Evidence from Indonesia. Problems and Perspectives in Management. Vol. 19(3):85–94. 2021. LLC CPC Business Perspectives. [Cross Ref]
Nyerges Richard. The inventory investment decision and firm value: A conceptual framework. International Journal of Production Economics. Vol. 26(1-3):193–201. 1992. Elsevier BV. [Cross Ref]
Rowley Chris. Big data, innovation and entrepreneurship in the Asia Pacific: examples and international comparisons. Asia Pacific Business Review. 1–4. 2020. Informa UK Limited. [Cross Ref]
Rubera Gaia, Kirca Ahmet H.. You gotta serve somebody: the effects of firm innovation on customer satisfaction and firm value. Journal of the Academy of Marketing Science. Vol. 45(5):741–761. 2017. Springer Science and Business Media LLC. [Cross Ref]
Ryu Sang-Lyul, Sawng Yeong-wha, Park Seunglak, Won Jayoun. Exploring the Relationship between Foreign Ownership, Innovation and Firm Value: A Korean Perspective. Journal of Korea Trade. Vol. 25(7):19–40. 2021. Journal of Korea Trade. [Cross Ref]
Salehi Nader. How to properly apply new external knowledge. Journal on Innovation and Sustainability RISUS. Vol. 13(2):73–83. 2022. Pontifical Catholic University of Sao Paulo (PUC-SP). [Cross Ref]
Salvi Antonio, Vitolla Filippo, Rubino Michele, Giakoumelou Anastasia, Raimo Nicola. Online information on digitalisation processes and its impact on firm value. Journal of Business Research. Vol. 124:437–444. 2021. Elsevier BV. [Cross Ref]
S Setiadharma, Machali Muslichah. The Effect of Asset Structure and Firm Size on Firm Value with Capital Structure as Intervening Variable. Journal of Business & Financial Affairs. Vol. 06(04)2017. OMICS Publishing Group. [Cross Ref]
Sucuahi William, Cambarihan Jay Mark. Influence of Profitability to the Firm Value of Diversified Companies in the Philippines. Accounting and Finance Research. Vol. 5(2)2016. Sciedu Press. [Cross Ref]
Suriawinata Iman Sofian, Nurmalita Denty Melatijati. OWNERSHIP STRUCTURE, FIRM VALUE AND THE MODERATING EFFECTS OF FIRM SIZE: EMPIRICAL EVIDENCE FROM INDONESIAN CONSUMER GOODS INDUSTRY. Jurnal Manajemen dan Kewirausahaan. Vol. 24(1):91–104. 2022. Petra Christian University. [Cross Ref]
Susanti Neneng, Restiana Nanda Gyska. What's the Best Factor to Determining Firm Value? Jurnal Keuangan dan Perbankan. Vol. 22(2)2018. Universitas Merdeka Malang. [Cross Ref]
Tajpour Mehdi, Hosseini Elahe, Salamzadeh Aidin. The effect of innovation components on organisational performance: case of the governorate of Golestan Province. International Journal of Public Sector Performance Management. Vol. 6(6)2020. Inderscience Publishers. [Cross Ref]
Zahra Shaker A., George Gerard. Absorptive Capacity: A Review, Reconceptualization, and Extension. Academy of Management Review. Vol. 27(2):185–203. 2002. Academy of Management. [Cross Ref]
Zhang Fen, Qin Xiaonan, Liu Lina. The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure. Sustainability. Vol. 12(5)2020. MDPI AG. [Cross Ref]
Zhu Xiangyu, Yang Yang. Big Data Analytics for Improving Financial Performance and Sustainability. Journal of Systems Science and Information. Vol. 9(2):175–191. 2021. Journal of Systems Science and Information (JSSI). [Cross Ref]
Zuhroh I. The Effects of Liquidity, Firm Size, and Profitability on the Firm Value with Mediating Leverage. KnE Social Sciences. Vol. 3(13)2019. Knowledge E. [Cross Ref]

Comments

Comment on this article

[1] Abogun Segun, Adigbole Ezekiel Aiyenijo, Olorede Titilope Esther. Income smoothing and firm value in a regulated market: the moderating effect of market risk. Asian Journal of Accounting Research. Vol. 6(3):296–308. 2021. Emerald. [Cross Ref]

[2] Mafakhir Shaleh Achmad Achsan Zainul, Kurniasih Augustina. The Determinants of Insurance Firm Value with Enterprise Risk Management (ERM) as Intervening Variabel. Risk and Financial Management. Vol. 3(2)2021. Ideas Spread. [Cross Ref]

[3] Al-Slehat Zaher Abdel Fattah. Impact of Financial Leverage, Size and Assets Structure on Firm Value: Evidence from Industrial Sector, Jordan. International Business Research. Vol. 13(1)2019. Canadian Center of Science and Education. [Cross Ref]

[4] Al-lozi Enas, Alfityani Amjed, Alsmadi Ayman Abdalmajeed, Al_Hazimeh Amer Moh'd, Al-Gasawneh Jassim Ahmad. The role of big data in financial sector: A review paper. International Journal of Data and Network Science. Vol. 6(4):1319–1330. 2022. Growing Science. [Cross Ref]

[5] ALI Qaisar, SALMAN Asma, YAACOB Hakimah, ZAINI Zaki, ABDULLAH Rose. Does Big Data Analytics Enhance Sustainability and Financial Performance? The Case of ASEAN Banks. The Journal of Asian Finance, Economics and Business. Vol. 7(7):1–13. 2020. Korea Distribution Science Association. [Cross Ref]

[6] Alkatheeri Yazeed, Ameen Ali, Isaac Osama, Nusari Mohammed, Duraisamy Balaganesh, Khalifa Gamal S. A.. The Effect of Big Data on the Quality of Decision-Making in Abu Dhabi Government OrganisationsData Management, Analytics and Innovation. p. 231–248. 2020. Springer Singapore. [Cross Ref]

[7] Alosani Mohammed Saleh, Yusoff Rushami, Al-Dhaafri Hassan. The effect of innovation and strategic planning on enhancing organizational performance of Dubai Police. Innovation & Management Review. Vol. 17(1):2–24. 2019. Emerald. [Cross Ref]

[8] Belhadi Amine, Kamble Sachin S., Zkik Karim, Cherrafi Anass, Touriki Fatima Ezahra. The integrated effect of Big Data Analytics, Lean Six Sigma and Green Manufacturing on the environmental performance of manufacturing companies: The case of North Africa. Journal of Cleaner Production. Vol. 252:2020. Elsevier BV. [Cross Ref]

[9] Capurro Rosita, Fiorentino Raffaele, Garzella Stefano, Giudici Alessandro. Big data analytics in innovation processes: which forms of dynamic capabilities should be developed and how to embrace digitization? European Journal of Innovation Management. Vol. 25(6):273–294. 2021. Emerald. [Cross Ref]

[10] Cooper Michael, Knott Anne Marie, Yang Wenhao. RQ Innovative Efficiency and Firm Value. Journal of Financial and Quantitative Analysis. Vol. 57(5):1649–1694. 2022. Cambridge University Press (CUP). [Cross Ref]

[11] Delfino Barilla Cinzia, Lastarria Reynoso Lucia. How can Big Data contribute to improve the financial performance of companies? Revista Mexicana de Economía y Finanzas. Vol. 15(SNEA):589–598. 2020. Instituto Mexicano de Ejecutivos de Finanzas, A.C. (IMEF). [Cross Ref]

[12] Dewi Melinda, Foanto Gabriella Natasya, Christiawan Yulius Jogi. Profitability, Liquidity, and Firm Value: Does Financial Distress Have a Mediating Effect? Advances in Economics, Business and Management Research. 2021. Atlantis Press. [Cross Ref]

[13] Effendi Bahtiar. The Impact of Environmental Performance on Firm Value: Evidence from Indonesia. Advances in Economics, Business and Management Research. 2021. Atlantis Press. [Cross Ref]

[14] Gautam Madhusudan. Perception towards Firm Value in Nepalese Banking Sector. Management Dynamics. Vol. 24(1):95–106. 2021. Nepal Journals Online (JOL). [Cross Ref]

[15] Ghasemaghaei Maryam, Calic Goran. Assessing the impact of big data on firm innovation performance: Big data is not always better data. Journal of Business Research. Vol. 108:147–162. 2020. Elsevier BV. [Cross Ref]

[16] Gök Osman, Peker Sinem. Understanding the links among innovation performance, market performance and financial performance. Review of Managerial Science. Vol. 11(3):605–631. 2017. Springer Science and Business Media LLC. [Cross Ref]

[17] Haoxiang Wang, S Smys. Big Data Analysis and Perturbation using Data Mining Algorithm. March 2021. Vol. 3(1):19–28. 2021. Inventive Research Organization. [Cross Ref]

[18] Harahap Irwan Mangara, Septiani Ivana, Endri Endri. Effect of financial performance on firms’ value of cable companies in Indonesia. Accounting. 1103–1110. 2020. Growing Science. [Cross Ref]

[19] Hasan Md. Morshadul, Popp József, Oláh Judit. Current landscape and influence of big data on finance. Journal of Big Data. Vol. 7(1)2020. Springer Science and Business Media LLC. [Cross Ref]

[20] Huang Zhi-xiong, Savita K.S., Zhong-jie Jiang. The Business Intelligence impact on the financial performance of start-ups. Information Processing & Management. Vol. 59(1)2022. Elsevier BV. [Cross Ref]

[21] Iswajuni Iswajuni, Manasikana Arina, Soetedjo Soegeng. The effect of enterprise risk management (ERM) on firm value in manufacturing companies listed on Indonesian Stock Exchange year 2010-2013. Asian Journal of Accounting Research. Vol. 3(2):224–235. 2018. Emerald. [Cross Ref]

[22] Namusonge Mary, Muathe Stephen, Kiveu Mary Nafula. Effect of innovation on firm competitiveness: the case of manufacturing SMEs in Nairobi County, Kenya. International Journal of Business Innovation and Research. Vol. 18(3)2019. Inderscience Publishers. [Cross Ref]

[23] Khatri Arun, Singh NP, Gupta Nakul. Big data analytics: direction and impact on financial technology. Pressacademia. Vol. 14(4):218–234. 2021. Pressacademia. [Cross Ref]

[24] Komara Acep, Ghozali Imam, Januarti Indira. Examining the Firm Value Based on Signaling Theory. Proceedings of the 1st International Conference on Accounting, Management and Entrepreneurship (ICAMER 2019). 2020. Atlantis Press. [Cross Ref]

[25] Lin Shunzhi, Lin Jiabao, Han Feiyun, Luo Xin (Robert). How big data analytics enables the alliance relationship stability of contract farming in the age of digital transformation. Information & Management. Vol. 59(6)2022. Elsevier BV. [Cross Ref]

[26] Ma Qianhui, Ju Lan, Zhang Zishi. Innovation Input and Firm Value: Based on the Moderating Effect of Internal Control. Sustainability. Vol. 14(18)2022. MDPI AG. [Cross Ref]

[27] Manurung Elon, Effrida E., Gondowonto Andreas James. EFFECT OF FINANCIAL PERFORMANCE, GOOD CORPORATE GOVERNANCE AND CORPORATE SIZE ON CORPORATE VALUE IN FOOD AND BEVERAGES. International Journal of Economics and Financial Issues. Vol. 9(6):100–105. 2019. EconJournals. [Cross Ref]

[28] Nafasati Febrina, Hilal Muhammad. THE EFFECT OF FINANCIAL PERFORMANCE ON FIRM VALUE WITH CORPORATE SOCIAL RESPONSIBILITY AS MODERATED VARIABLES. Economics and Business Solutions Journal. Vol. 5(1)2021. Universitas Semarang. [Cross Ref]

[29] Narteh Bedman. Brand equity and financial performance. Marketing Intelligence & Planning. Vol. 36(3):381–395. 2018. Emerald. [Cross Ref]

[30] Nejjari Zakaria, Aamoum Hanane. Big Data Analytics Influence on Financial Performance and Market Value: Intellectual Capital as a Proxy. E3S Web of Conferences. Vol. 229:2021. EDP Sciences. [Cross Ref]

[31] Nejjari Zakaria, Aamoum Hanane. Big Data Analytics Influence on Financial Performance and Market Value: Intellectual Capital as a Proxy. E3S Web of Conferences. Vol. 229:2021. EDP Sciences. [Cross Ref]

[32] Nurhayati Ida, Sudiyatno Bambang, Puspitasari Elen, Basiya Robertus. Moderating effect of firm performance on firm value: Evidence from Indonesia. Problems and Perspectives in Management. Vol. 19(3):85–94. 2021. LLC CPC Business Perspectives. [Cross Ref]

[33] Nyerges Richard. The inventory investment decision and firm value: A conceptual framework. International Journal of Production Economics. Vol. 26(1-3):193–201. 1992. Elsevier BV. [Cross Ref]

[34] Rowley Chris. Big data, innovation and entrepreneurship in the Asia Pacific: examples and international comparisons. Asia Pacific Business Review. 1–4. 2020. Informa UK Limited. [Cross Ref]

[35] Rubera Gaia, Kirca Ahmet H.. You gotta serve somebody: the effects of firm innovation on customer satisfaction and firm value. Journal of the Academy of Marketing Science. Vol. 45(5):741–761. 2017. Springer Science and Business Media LLC. [Cross Ref]

[36] Ryu Sang-Lyul, Sawng Yeong-wha, Park Seunglak, Won Jayoun. Exploring the Relationship between Foreign Ownership, Innovation and Firm Value: A Korean Perspective. Journal of Korea Trade. Vol. 25(7):19–40. 2021. Journal of Korea Trade. [Cross Ref]

[37] Salehi Nader. How to properly apply new external knowledge. Journal on Innovation and Sustainability RISUS. Vol. 13(2):73–83. 2022. Pontifical Catholic University of Sao Paulo (PUC-SP). [Cross Ref]

[38] Salvi Antonio, Vitolla Filippo, Rubino Michele, Giakoumelou Anastasia, Raimo Nicola. Online information on digitalisation processes and its impact on firm value. Journal of Business Research. Vol. 124:437–444. 2021. Elsevier BV. [Cross Ref]

[39] S Setiadharma, Machali Muslichah. The Effect of Asset Structure and Firm Size on Firm Value with Capital Structure as Intervening Variable. Journal of Business & Financial Affairs. Vol. 06(04)2017. OMICS Publishing Group. [Cross Ref]

[40] Sucuahi William, Cambarihan Jay Mark. Influence of Profitability to the Firm Value of Diversified Companies in the Philippines. Accounting and Finance Research. Vol. 5(2)2016. Sciedu Press. [Cross Ref]

[41] Suriawinata Iman Sofian, Nurmalita Denty Melatijati. OWNERSHIP STRUCTURE, FIRM VALUE AND THE MODERATING EFFECTS OF FIRM SIZE: EMPIRICAL EVIDENCE FROM INDONESIAN CONSUMER GOODS INDUSTRY. Jurnal Manajemen dan Kewirausahaan. Vol. 24(1):91–104. 2022. Petra Christian University. [Cross Ref]

[42] Susanti Neneng, Restiana Nanda Gyska. What's the Best Factor to Determining Firm Value? Jurnal Keuangan dan Perbankan. Vol. 22(2)2018. Universitas Merdeka Malang. [Cross Ref]

[43] Tajpour Mehdi, Hosseini Elahe, Salamzadeh Aidin. The effect of innovation components on organisational performance: case of the governorate of Golestan Province. International Journal of Public Sector Performance Management. Vol. 6(6)2020. Inderscience Publishers. [Cross Ref]

[44] Zahra Shaker A., George Gerard. Absorptive Capacity: A Review, Reconceptualization, and Extension. Academy of Management Review. Vol. 27(2):185–203. 2002. Academy of Management. [Cross Ref]

[45] Zhang Fen, Qin Xiaonan, Liu Lina. The Interaction Effect between ESG and Green Innovation and Its Impact on Firm Value from the Perspective of Information Disclosure. Sustainability. Vol. 12(5)2020. MDPI AG. [Cross Ref]

[46] Zhu Xiangyu, Yang Yang. Big Data Analytics for Improving Financial Performance and Sustainability. Journal of Systems Science and Information. Vol. 9(2):175–191. 2021. Journal of Systems Science and Information (JSSI). [Cross Ref]

[47] Zuhroh I. The Effects of Liquidity, Firm Size, and Profitability on the Firm Value with Mediating Leverage. KnE Social Sciences. Vol. 3(13)2019. Knowledge E. [Cross Ref]