The Impact of E-commerce on Organizational and Financial Performance in SMEs: Evidence from Saudi Arabia

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Introduction
Globalization and the rising trend of the business environment have altered operations management.This is posing problems with how organizations, especially Small and Medium Enterprises (SMEs), are operating.Maximum studies claim that information and Technology play an important role in organizational performance and productivity levels (Corrado et al., 2017: Arshad Khan andAlhumoudi, 2022).As resources become scarce and competition increases in the market, organizations are adopting strategies to gain competitive advantages for growth and development (Alfawaire, & Atan, 2021).It is through ICT that electronic commerce (E-commerce) is advancing and highly adopted by SMEs to enhance their competitive advantage level in the market (Prasanna et al. 2019).E-commerce has emerged as a strategic tactic and platform for the organization to stay competitive.In the global business environment, SMEs occupy the largest number of companies where they are estimated to represent around 90% of all firms globally, (Laila et al. 2022).According to the OECD, brand design manufacturing, and logistics are among the early adopters of E-commerce (Gomez-Trujillo et al. 2019).Putra & Santoso (2020) indicate that SMEs accounted for 95% of the world's enterprises in 2019 and absorbed 60% of employment, which is per the International Finance Corporation's statistics.This indicates that the sector cannot be ruled out when it comes to income generation, job creation, poverty reduction, and the contribution to the GDP within a country.The rapid economic development and profitability of emerging markets across countries have created an opportunity for small businesses in the local and international markets to develop (Mwika et al. 2018).Hence competition has increased in the market.On the other hand, the development of innovation and Technology in the business world has resulted in unprecedented improvement in organizations.

Statement of the Problem
In today's business environment, E-commerce has become an essential element of business in most developing countries.Most of the major companies have adopted to gain a competitive advantage in the operating market (Aggarwal et al. 2019).The SME industry is vibrant and plays a very crucial role in the growth and development of the economy (Corrado et al., 2017: Mwika et al., 2018).The SME sector plays an important role in wealth creation by employees.SMEs have still not well-adopted E-commerce strategies compared to multinational corporations in the global environment (Liñán et al., 2020;Sutomo et al., 2020).Due to the low penetration of SMEs in the market especially for developing countries, such as the Kingdom of Saudi Arabia, the country have not reaped the full benefits the E-commerce in SMEs.In Saudi Arabia, SMEs represent a significant portion of the productive units in the Saudi economy, and hence the government and the policymakers are highly encouraging them to improve their capabilities by embracing Technology.However, most SMEs have reservations about the adoption of E-commerce due to its aspects of being electronically delivered (Alotaibi et al. 2019: Fuller et al. 2022).Only few Saudi SMEs, mostly from manufacturing, have implemented E-commerce.This means that there is not much evidence of the impact that E-commerce has on SME performance in Saudi Arabia (Aburayya et al. 2019).Therefore, the study evaluates the effect of electronic commerce on organizational performance in SMEs around the Kingdom of Saudi Arabia.

1)
To what extent does E-commerce impact the operational performance of small and medium enterprises in KSA?
2) What is the impact of E-commerce on the financial performance of small and medium enterprises in KSA?

3)
What is the impact of E-commerce on market-based performance in small and medium enterprises in KSA?

Research Objectives
1) To assess the impact of E-commerce on operational performance in small and medium enterprises in KSA.
2) To examine the impact of E-commerce on the financial performance of small and medium enterprises in KSA.
3) To examine the impact of E-commerce on market-based performance in small and medium enterprises in KSA.

Theoretical Review
Based on the relevant theories and literature similar to the past studies with consideration of the research objectives this study explains how Technology like E-commerce has been adopted by SMEs and its benefits has on various areas.Some of these theories include the Technology Acceptance Model (TAM), Perceived Organizational E-Readiness (POER), and Unified Theory of Acceptance and Use of Technology (UTAUT).The research literature explains the understanding perceived from the four theories and uses various principles that go in line with the adoption of E-commerce.

Technology Acceptance Model (TAM)
Technology Acceptance Model (TAM) model describes how individuals across different organizations have adopted new technologies to facilitate their operations which was developed by Fred Davis in 1989.This model has two most important factors of technology adoption in organizations which include perceived usefulness (PU) and perceived ease of use (PEOU) as indicated by Rafique, et al. (2020).It defines perceived usefulness as the degree to which individuals are curtained that the use of Technology will improve the performance of their work and easing operations.
TAM has been utilized to analyze the adoption of SMEs in the industrial and service sectors in Singapore, Malaysia, and Thailand (Alamri et al. 2019).used to test the valuable paradigm in understanding the ad intention of customers to adopt E-commerce.This means that it is also used in studies to analyze behaviors and the attitude of the customers in the adoption of E-commerce in SMEs (Alamriet al. 2019).According to Scherer et al. (2019), TAM relies on perceived usefulness as one of the most important acceptance signals, ignoring actual technological use in organizations.TAM model suggests that perceptions that one has in relation to innovation are essential as it led to behaviors that individual's exhibit on the utilization of the innovation (Rafique, et al. 2020).

Perceived Organizational E-Readiness (POER)
With the spread of internet connectivity in the global environment, labour, lower unit per cost, information on commerce, and internalization/ globalizing of the market, it is possible for organizations, especially in developing economies, to access efficiency, fair competition, and access to the global market (Ulhaq, 2022).However, challenges that organizations experience in the adoption.E-readiness has become a vital topic in the investigation of the importance and impact of e-business adoption in organizations.This model was developed by Linker and Mollar in 2005, where they proposed that multi-perspective assessment of managerial, external contextual elements, and internal organization acts as the main determinant of E-commerce adoption in organizations (Misganaw & Singh, 2020).Organizations that have been able to adopt E-commerce and effectively implement can create more profits and also extend their business operation in the market (Ausat & Suherlan, 2021).The POER model considers internal factors which include the organization's awareness, understanding of the innovation and Technology, and forecast of E-commerce and its possible risks and benefits associated with the Technology (imperative innovation attributes), its managers' engagement, and vital organizational elements such as personnel, procedures, and organization infrastructure.
The factors in the external environment include the e-readiness of governments within a country, e-readiness for market forces, and e-readiness for support industries (Ulhaq, 2022).This indicates that when an organization fails to have enough internal resources and external environmental pressure, there might be challenges in the adoption of E-commerce.PERM addresses E-commerce institutionalization and includes details from the external environment and internal organizational concerns (Lutfi et al., 2022).However, some criticisms have been presented when it comes to the PERM model.This brings out the essential industrial features, such as the scale of the sector or a firm.As a result, the perceived readiness model explains how individuals perceive new Technology and their rate of adoption, especially in E-commerce Technology Acceptance Model (TAM) model describes how individuals across different organizations have adopted new technologies to facilitate their operations which was developed by Fred Davis in 1989.This model has two most important factors of technology adoption in organizations which include perceived usefulness (PU) and perceived ease of use (PEOU) as indicated by Rafique, et al. (2020).It defines perceived usefulness as the degree to which individuals are convinced that the use of Technology will improve the performance of their work and ease operations.In addition, TAM has been utilized to analyze the adoption of SMEs in the industrial and service sectors in Singapore, Malaysia, and Thailand (Alamri et al. 2019).used to test the valuable paradigm in understanding the ad intention of customers to adopt E-commerce.This means that it is also used in studies to analyze behaviours and the attitudes of the customers in the adoption of E-commerce in SMEs (Alamriet al. 2019).According to Scherer et al. (2019), TAM relies on perceived usefulness as one of the most important acceptance signals, ignoring actual technological use in organizations.TAM model suggests that perceptions that one has about innovation are essential as they lead to behaviours that individuals exhibit on the utilization of the innovation (Rafique, et al. 2020).

Technology-Organization-Environment Theory (TOE)
This is a framework that was developed in 1990 by Tornatzky and Fleisher to describe the influence of technology adoption in an organization setup (Hue, 2019).The technology-organization-environment theory describes how various organizations.According to this theory, there are three different variables which include the technological, the organizational, as well as the external environment.All the variables are posited to influence Technology and information.This theory has been highly utilized in studies relating to the uptake of E-commerce by small business organizations such as (Le, 2019: Suhartanto & Utomo, 2017: Tan & Ooi, 2014: Ghobakhloo et al. 2014).The framework uncovers the factors that influence the adoption of E-commerce in organizations (Hue, 2019).Other factors related to the technology context include the perceived gain, technical and organizational capability, complexity and observability, and experimentation ability.
There can be internal, external, and leadership and management features.According to a research study undertaken by Malik et al. (2021), some drawbacks are associated with this framework.undertaken by Malik et al. (2021), some drawbacks are associated with this framework.One of the major drawbacks includes the construct adopted to predict the adoption.For instance, when it comes to SMEs, the management can't predict the adoption using a similar construct used by bigger companies in the operating environment.On the other hand, the environmental context of this theory involves the size of the operating environment, the competition that the company is experiencing, the rules and regulations that govern the industry, and the economic context (Malik et al., 2021).All these contexts create opportunities along with constraints when it comes to innovative Technology.With this, it is possible for rganization management to have a clear understanding of the right condition and environment under which E-commerce can be effectively implemented in organizations (SMEs).

Unified Theory of Acceptance and Use of Technology (UTAUT)
The unified theory of acceptance and use of Technology was created by Venkatesh and other scholars (Wang et al. 2021).This theory explains the intention of the users on the implementation of a system and their successive behaviours.The main idea behind the theory includes facilitating conditions, social influence, effort expectancy, and performance expectancy.This model has highly been utilized to bring about an effective understanding of the uptake of E-commerce in developing nations (Persada, Miraja, & Nadlifatin, 2019).UTAUT is significant by the expectancy of performance, social influence, effort expectancy, etc. (Wang et al. 2021).On the other hand, expectancy is the response that is perceived usefulness in TAM and is represented by the attitude factor.The model impacts the intention of use significantly, with the success expectancy factor placing importance on the intention to use.Hence, it can be said to explain how people collectively accept to adopt and use Technology, which is then linked with the performance of their organizations.

Application of Electronic Commerce (E-commerce)
E-commerce is the aspect of sharing organization business, maintaining business relationships, and conducting various business transactions through the support of telecommunications networks.It has become alive, well organized, and growing extremely at a very fast rate hence bringing change within the industries, markets, businesses, and society in general (Grandón & Ramírez-Correa, 2018).Today, for the long-term deployment of E-commerce technologies and methods, E-commerce has become a part of the established businesses that have market brands and financial muscle required.As a result, organizations benefited from significant progress toward the development and application of E-commerce strategies (Hendricks & Mwapwele, 2024).E-commerce studies were first published in 1994.Apăvăloaie, ( 2014) provided the first survey on how organizations have embraced the Internet in business operations.On the other hand, Cronin et al. (1994), surveyed how the embrace of E-commerce in the business environment has changed how organizations are operating.E-commerce offers organizations with low cost of business transactions, especially concerning mailing and paperwork costs, which is a benefit to the company (Alzahrani, 2018).Previous studies have indicated that most of the developing countries' technological, social, cultural, legal, and institutional constraints have inhibited the application of E-commerce.

Operational Performance
Operational performance is the process that is used to measure the performance of a firm against the prescribed indicators.The management needs to know how well the company is performing to effectively figure out what strategic changes, if any, to make.This makes it a very crucial concept, and hence more attention has to be paid.
According to Carton and Hofer (2006), operation performance in an organization can be subcategorized into market share, new product introduction, product/service quality, marketing effectiveness, and customer satisfaction.Organizational managers rely on multiple measures of performance when gauging the success or failure of their organizations (Bawack et al., 2022).Most organizations adopt a Balanced Scorecard to develop a more predictive set of organizational performance measures.This provides a "balance" between financial measures and other measures that are undertaken by the organization to create sustainable and long-term performance (Yadav et al. 2018).On the other hand, organizations can also adopt business-model approaches.
The models promote a link between the existing data from the operational measures and financial measures in the organization, which makes it possible to improve one area at the expense of the other one.

Financial and Accounting Performance
Accounting-based criteria are common in performance evaluations that various organizations in the business market adopt to evaluate their level of performance.With this strategy, organizations evaluate various factors and aspects of accounting-based measures.This is where the management evaluates factors such as return on assets, return on investment, return on sales, and return on equity to measure profitability, market-based measures, which include stock market returns or a mixture of accounting-and market-based measures where the management evaluates the price-earnings ratio (Nasrallah, & El Khoury, 2022).However, accounting-based figures can easily be misled, as one tries to manipulate them for the numbers to look good.The lack of consistency and standardization in international accounting convections makes the interpretation of the accounting performance in an organization difficult, along with its comparison (Gunawan and Pratiwi, 2020).From the existing literature, an organization's profitability can be raised in the short term when the management chooses to cut down the expenditures, which can be harmful to a company in the long run.This raises the question of if the organization's performance can truly be evaluated or assessed with the use of accounting-based measures.

Market-based Performance
Similar to financial performance, market performance is also a key indicator that reflects business performance for most organizations.This is shown through the increase in the market share.With the critics provided based on financial and accounting performance, a market-based performance measure strategy is deemed to be an appropriate strategy to indicate the level of performance in organizations (Gupta, & Gregoriou, 2018).Under the assumption that potential investors have to assess an organization's performance before they invest in the firm, the management has to ensure that the level of market-based performance is high.

Conceptual Framework
Figure 1.Conceptual framework

Research Methodology
Given the nature of this study, a descriptive research design will be selected as it is the most suitable approach.This is where a researcher is solely interested in describing the situation or case under their research study.Consequently, the researcher will be able to explain the evaluate the effects of electronic commerce on organizational performance in small and medium enterprises in KSA.

Research Design
Figure 2. Research design

Sampling Approach and Sampling Size
During research, the target population can be huge, making it difficult for researchers to collect and analyze data (Alam, 2021).As a result, sampling is usually undertaken to reach a manageable size of the target population.
Sampling the target population using 230 respondents (SME's owners and managers) who were conveniently available to the researcher.

Research Instruments
The electronic methods used include online transactions, electronic data interchange (EDI), mobile commerce, etc. (Mwika et al., 2018).Operational performance-the efficiency and effectiveness of an organization's day-to-day operations and processes in achieving its goals and objectives (Lekmat et al., 2018).Financial performance -A strong financial performance is essential for a company's sustainability and competitiveness, hence enabling the reinvesting of operations (Nasrallah & El Khoury, 2022).Market-based performance -the financial performance of a company as reflected in its stock price and market capitalization, which are determined by the supply and demand of the company's shares in the financial markets (Gupta & Gregoriou, 2018).It measures how an organization is perceived by investors and analysts about growth potential, profitability, and the market position in the operating market.

Data Collection
The primary data collected through a questionnaire that were administered to the respondents.The questionnaire can be used as it is an approach that is known to be a fast, efficient, and inexpensive method of gathering data using a sizeable sample size (Ricci et al. 2019).Additionally, it is particularly effective in measuring the study population's behaviours, preferences, intentions, and opinions testing their reliability and validity.

Data Analysis
The researcher has proposed the use of a Statistical Package for Social Science (SPSS) software.In the first section, which involves the demographic of the respondents, the basic frequency will be adopted.The quantitative data were analyzed using descriptive and inferential statistics, which will then be presented using graphs and tables.

Research Hypothesis
1.There is a significant impact of E-commerce on operational performance in small and medium enterprises in KSA.
2. There is a significant impact of E-commerce on the financial performance of small and medium enterprises in KSA 3.There is a significant impact of E-commerce on market-based performance in small and medium enterprises in KSA

Gender
From the findings presented in Table 4.1 below, the respondents in this study were 230 individuals, where the males constitute 70.0% of the population, while females make up 30.0% of the population.This indicates that the study was male dominated.

Operational Performance
In this section, we examining the impact of E-commerce on operational performance in small and medium enterprises in KSA and the findings are presented in the table below, showing that the respondents rated the improvement in operational efficiency due to E-commerce as 4.0261; the increase in sales revenue due to E-commerce adoption is 4.0783, the ability of E-commerce to expand their customer base as 4.1696 and the impact of E-commerce on customer satisfaction is 4.0826.

Financial Operation
In this section, we are examining the impact of E-commerce on the financial performance of small and medium enterprises (SMEs) in the Kingdom of Saudi Arabia (KSA).In relation to the subsections, the average rating for the impact of E-commerce on reducing operational costs is 4.0609, the impact of E-commerce implementation on profitability is 3.9826, and the improvement in financial performance due to E-commerce is 4.0000.The mean values suggest that, according to the respondents' perceptions, E-commerce has been effective in reducing operational costs and improving the financial performance of SMEs in KSA.The implementation of E-commerce has led to an increase in the profitability of my firm 2302.005.00 3.9826.72969 The use of E-commerce has led to an overall improvement in the financial performance of my enterprise 2302.00 5.00 4.0000.75922 Valid N (listwise) 230

Market-Based Performance
From the data presented by the respondents, the following were the means obtained on the subsections in the research questions, the mean on the E-commerce on expanding customer base and reaching new markets is 4.1435, the impact of E-commerce on improving visibility in the market is 4.0522, and the impact of E-commerce on brand recognition and awareness is 4.0261.The mean values indicate that, according to the respondents' perceptions, E-commerce has had a positive impact on market-based performance in SMEs in KSA.

Correlation Analysis
Correlation analysis is a statistical technique used to measure the relationship between two or more variables.It helps determine the degree to which changes in one variable are associated with changes in another variable.A positive correlation (r > 0) indicates that as one variable increases, the other variable tends to increase as well, while a negative correlation (r < 0) indicates that as one variable increases, the other variable tends to decrease.However, if the correlation is close to zero (r ≈ 0) suggests little to no linear relationship between the variables.As shown in the table below, there is a positive between operational performance (0.704), financial performance (0.712), and market base (0.86).This shows that there is a positive relationship between operational performance, financial performance, market base, and organizational performance in SMEs.When the SMEs increase the adoption of the E-commerce system, operational performance, financial performance, market base, and organizational performance.

Regression Analysis
The model summary shown below indicates that the base, organization operations, and finances account for R is 0.835, which indicates that there is a positive relationship between the predictors (market base, operation, finance) and performance.The R Square value of 0.697 suggests that approximately 69.7% of the variance in the dependent variable is explained by the predictors.The standard error of the estimate is .36628,which represents the average distance between the observed and predicted values.The table below represents the ANOVA results.The main purpose is to determine whether there are statistically significant differences among the means of the variables.The goal is to test the null hypothesis that the means of the groups are equal against the alternative hypothesis that at least one group's mean differs from the others with the help of F-statistic and p-value.When the p-value obtained is less than .05, the difference between the mean, then it is statistically significant.As shown in the table below, the F statistic is s 173.280, which indicates that the predictors in the model are jointly contributing to explaining the variation in the dependent variable.The p-value of 000 (or <.001) indicates that market base, operation, and finance can significantly contribute to predicting the performance of SMEs.165, p = .008),and market base (β = .583,p = .000).This indicates that there is a statistically significant positive association of firm's operations, finance, and market base with organization performance.Therefore, improving these areas can have a positive impact on the performance of the organization.

Discussion of the FINDINGS
Objective one: To evaluate the impact of E-commerce on operational performance in small and medium enterprises in KSA.According to the findings of this study, there is a positive relationship between the implementation of E-commerce and the operational performance of SMEs.This suggests that SMEs should also embrace the implementation of E-commerce platforms to enhance operational efficiency.The respondents have agreed that E-commerce systems in organizations increase the efficiency of operations, which makes it possible for SMEs to not only reach out to more customers but also ensure that there is satisfaction with the services being offered.The efficiency of operations and hence improving the performance of the organizations.
According to the Unified Theory of Acceptance and Use of Technology (UTAUT) organizations that have adopted E-commerce as part of their operations aim at having successful behaviour such as the improvement of performance (Wang et al. 2021).The Technology Acceptance Model (TAM) model supports the findings by indicating that the use of Technology will improve the performance of their work.
Objective two: To examine the impact of E-commerce on the financial performance of small and medium enterprises in KSA.According to this study, E-commerce has been effective in reducing operational costs and improving the financial performance of SMEs in KSA.This is in support of the study undertaken by (Ausat & Suherlan, 2021), which indicates that organizations that have been able to adopt E-commerce and effectively implement it can create more profits and also extend their business operation in the market.The Perceived Organizational E-Readiness (POER) indicates that organizations that have adopted E-commerce can create more profits by reducing the cost of operations.The cost gets lower since fewer individuals handle data within an organization which is a benefit to the company (Alzahrani, 2018;Alakkas et al., 2023).This reduces the operational cost within organizations, which is a financial benefit.Agyemang (2020), indicates that the implementation of E-commerce systems increases corporate profits.
Objective three: To examine the impact of E-commerce on market-based performance in small and medium enterprises in KSA.From the findings of the studies, E-commerce has had a positive impact on market-based performance in SMEs in KSA.It has enabled the expansion of the customer base, improved market visibility, increased brand recognition and awareness, and facilitated competitiveness in the market.This is in support of the study undertaken by Gupta & Gregoriou (2018) and Agyemang (2020) increasing market share and enhancing a positive image in the market.A market-based performance measure strategy is deemed to be an appropriate strategy to indicate the level of performance in organizations.The perceived Organizational E-Readiness (POER) model supports the findings of the study as it indicates that organizations that have been able to adopt E-commerce and effectively implement can create more profits and extend their business operation in the market (Alakkas, et al., 2023;Alhumoudi and Juyer, 2023).

Conclusion
In today's world of globalization and economic acceleration has been recognized that Technology and knowledge are the core competencies of accumulating wealth for organizations.To take advantage of the opportunities and curb the challenges, SMEs are adopting technologies such as electronic commerce systems and applications.
According to the findings of this study, the application of E-commerce systems in organizations is very critical for all organizations, regardless of their size, either small or medium organizations.It not only helps to improve the operations of the companies, the financial performance, and market-based performance but also improves the general performance like marketing processes, assists in improving the payment system of the organization, and ultimately helps to increase the efficiency of the workers and profit of the organization.

Implication of the Study
The study has shed light on how E-commerce adoption can positively impact the performance of SMEs in Saudi Arabia.As a result, it enhances their growth in the operating market.These findings can encourage more SMEs to embrace E-commerce, thereby boosting their overall performance.The study also raises awareness among SME owners and managers in Saudi Arabia about the potential benefits of E-commerce.Providing an insight into the E-commerce application in organizations increases the understanding and encourages SMEs to explore and adopt E-commerce solutions, leading to a more competitive business environment.

Limitations and Suggestions for Further Studies
One of the major limitations experienced by the researcher was when the respondents overlooked the email sent on the questionnaire.Due to privacy concerns, lack of interest, or scepticism about the study's purpose, some members were also unwilling to participate.Also, the demographic findings show that the respondents were composed of where 70 % were male whereas 30% were female, whereby males were significantly higher, and this could influence the responses.Therefore, it is important to conduct a study to determine whether gender differences have a significant effect on consumer perceptions.Future studies about this research topic can be extended to explore how the adoption of E-commerce on SMEs affects the long-term operations and performance of the firms.However, this will build more literature on studies relating to the research topic.

Informed consent
Obtained.

Table 1 .
Gender 9% of the respondents; the Age set between 20 to 30 years follows with 26.1% of the total respondents, followed by individuals between age 41 to 50 years which accounts for 26.1% of the population.The least of the respondents in their study are of above 50 years old.This means that individuals in the SME industry in Saudi Arabia are between the Age of 31 to 40 years.According to the finding of the data presented below most of the respondents have a work experience of between 16-20 years which is 23.9% of the respondents, 21.3% of the respondents have a work experience of 11-15 years, 20.9% of the respondents have a work experience of above 21 years, 18.3% of the respondents have, and experience of below 5 years and 14.8% of the respondents have the experience of 5-10 years.Most of the respondents have had an experience of several years in the SME sector, which is between 16-20 years.
The table above represent the age group of the respondents in the SME industry.According to the data presented on the data below, the highest level of respondents are between the ages 31 to 40 years, which constituted 60.

Table 3 .
Work experience embraces electronic commerce technology, it means that it has to employ Its personnel to run the systems.As shown in the table below, most of the respondents indicate that their forms have less than 20 IT personnel, 13.9% indicate that their firms have 21-40 employees.IT employees, 10.0% indicate that the company has more than 60 IT employees, and 8.7% indicates that their firms have 41-60 employees.

Table 5 .
IT personelFrom the data presented the age category that has a huge number of employees is the below 20 age group.67 employees in the below Age 20 category, which accounts for 29.1% of the total number of employees, 60 employees in the 21-40 age category, which represents 26.1%, 56 employees in the above 61 age category, represents 24.3% and 47 employees in this category, accounting for 20.4% of the total respondents.This indicates that most of the respondents are employees below the Age of 20 years.

Table 6 .
Number of employees

Table 7 .
Operational performance

Table 8 .
Financial performance

Table 9 .
Market based performance

Table 11 .
Model analysis

Table 12 .
ANOVA analysis The table below shows the coefficient of the firm's operations, finance, and market base.The coefficient values include operation .156,finance .056,and market base .553while holding the variables constant.The coefficient values as shown in the table below, firm's operations (β = .149,p = .015),finance (β = .
Coefficients are essential in interpreting regression models and understanding the relationships between variables.