Examining Financial Performance and Strategic Corporate Metrics: A Regression Analysis on Sustainability and Competitiveness

Porferius Wandi Patintingan (), Andi Ratna Sari Dewi and Andi Aswan
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Porferius Wandi Patintingan: Hasanuddin University
Andi Ratna Sari Dewi: Hasanuddin University
Andi Aswan: Hasanuddin University

A chapter in Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024), 2025, pp 3362-3372 from Springer

Abstract: Abstract This study investigates the key determinants of financial performance, measured by Return on Assets (ROA), within the context of developing economies, employing the Resource-Based View (RBV) as its theoretical foundation. Drawing on panel data from publicly listed companies in Indonesia, India, Brazil, South Africa, and Mexico for the period 2010 to 2020, the analysis examines the effects of operational efficiency, R&D expenditure, Corporate Social Responsibility (CSR) engagement, and human resource productivity on financial outcomes. A Fixed Effects Model (FEM) was utilised to control for country-specific characteristics. The findings indicate that operational efficiency, R&D expenditure, and CSR engagement significantly enhance ROA, demonstrating the importance of optimising both tangible and intangible resources in resource-constrained environments. However, human resource productivity did not exhibit a significant relationship with financial performance, suggesting that further research is required to fully understand its role in developing economies. The study contributes to the literature by providing empirical evidence that innovation, CSR engagement, and leadership structures are crucial drivers of financial performance in emerging markets. These results have practical implications for policymakers and business leaders, emphasising the need for firms to prioritise resource optimisation, innovation, and socially responsible practices to achieve long-term financial sustainability.

Keywords: Return on Assets (ROA); Financial performance; Operational efficiency; R&D expenditure; Corporate Social Responsibility (CSR) (search for similar items in EconPapers)
Date: 2025
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DOI: 10.2991/978-94-6463-758-8_281

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