https://sbir.upct.es/index.php/sbir <p><img src="/public/site/images/administrador/cabs150.jpg" alt="Chartered Association of Business Schools (CABS)" vspace="10" hspace="10" align="left">We are delighted to announce that the <a href="https://charteredabs.org/" target="_blank" rel="noopener"><strong>Chartered Association of Business Schools (CABS)</strong></a> has included <strong>Small Business International Review (SBIR)</strong> in its latest <a href="https://charteredabs.org/academic-journal-guide" target="_blank" rel="noopener"><strong>Academic Journal Guide (AJG2024)</strong></a>. SBIR has been awarded an initial rating of AJG 1, which we aim to improve in the coming years. The editors-in-chief would like to express their heartfelt gratitude to the entire editorial team and to the expert reviewers, whose contributions have greatly enhanced the rigour and quality of the articles published in SBIR.</p> <p><i class="ai ai-open-access ai-4x ai-fw ai-pull-left" style="color:#f6830a"></i><strong>Small Business International Review (e-ISSN 2531-0046)</strong> is a peer-reviewed e-journal devoted to the publication of original research articles concerning the broad field of SMEs. It provides <strong>Fully Open Access</strong> to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.<strong> Authors are not asked to pay Article Processing Charges (APCs) for this journal in any case</strong>. The journal offers a permanent open call for papers. The articles can be sent using the platform of the journal or can be sent by attaching the document to the address <a href="mailto:sbir@upct.es?subject=%5BSBIR%5D%20Article%20sent">sbir@upct.es</a> indicating in the subject: '[SBIR] Article sent'. To submit your manuscript through the platform <a href="/index.php/sbir/login">click here</a>.</p> Spanish Accounting and Business Administration Association (AECA) and Universidad Politécnica de Cartagena (UPCT) en-US Small Business International Review 2531-0046 <p id="copyrightNotice">Authors who publish with this journal agree to the following terms:</p> <ol> <li class="show">Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a <a title="Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)" href="https://creativecommons.org/licenses/by-nc-sa/4.0/" target="_blank" rel="noopener">Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)</a> that allows others an non-exclusive licence to share the work with an acknowledgement of the work's authorship and initial publication in this journal, commercial uses are not permitted and, if you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.</li> <li class="show">Authors are able to enter into separate, additional contractual arrangements for the <span style="text-decoration: underline;">non-exclusive distribution</span> of the journal's published version of the work, duly noting the <em> <em>Small Business International Review</em> </em> as original source of material, including the authorship, the year of publication, number of issue, and the pages or elocation-id on which the information appears, as well as the link to the Journal’s web page using its assigned DOI link.</li> <li class="show">Authors are permitted and encouraged to post their work online (on their institutional repositories or their website) for the submitted and accepted versions , provided acknowledgement of submission or acceptance, as it can lead to productive exchanges, as well as earlier and greater citation of published work.</li> <li class="show">Explanatory note about the change of the <strong>Creative Commons License</strong>: <strong>Small Business International Review</strong> published its first two issues under a <a href="https://creativecommons.org/licenses/by-nc-nd/4.0/" rel="license">Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY-NC-ND 4.0)</a>. But the editors after the knowledge of the <a title="DECLARATION OF MEXICO in favor of the Latin American Non-Commercial Open Access Ecosystem" href="http://www.accesoabiertoalyc.org/declaracion-mexico-en/" target="_blank" rel="noopener">DECLARATION OF MEXICO in favor of the Latin American Non-Commercial Open Access Ecosystem</a>&nbsp;have decided to publish from that moment through a <a title="Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)" href="https://creativecommons.org/licenses/by-nc-sa/4.0/" target="_blank" rel="noopener">Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0)</a> as a result of it the Vol. 2, Num. 2 (2018) is under this new version of licence as well as all new issues from now.</li> </ol> https://sbir.upct.es/index.php/sbir/article/view/693 This study examines the relationship between firm size and Environmental, Social, and Governance (ESG) scores, with a focus on the growing importance of sustainability and corporate social responsibility (CSR). Drawing on data from 4,525 U.S. companies, an Ordinary Least Squares (OLS) regression analysis reveals a significant positive association between firm size and ESG performance, suggesting that larger firms are better positioned to allocate resources toward sustainability initiatives. Furthermore, the findings indicate that board gender diversity has a positive impact on ESG scores, underscoring the importance of diverse perspectives in corporate governance. The results highlight the need for standardized ESG reporting and provide insights into how firm characteristics shape sustainability outcomes. This research offers practical guidance for corporate leaders and policymakers seeking to advance sustainability practices across organizations. Raúl Gómez Martínez Maria Luisa Medrano-Garcia Daniel Amo Navas Copyright (c) 2024 Raúl Gómez Martínez, Maria Luisa Medrano-Garcia, Daniel Amo Navas https://creativecommons.org/licenses/by-nc-sa/4.0 2024-12-03 2024-12-03 8 2 e693 e693 10.26784/sbir.v8i2.693 https://sbir.upct.es/index.php/sbir/article/view/628 Small and medium-sized enterprises (SMEs) in Latin America demonstrate productivity levels of 32% and 43%, respectively, when compared to large companies. This lower productivity places them at a disadvantage in accessing the global value chain. According to the OECD/ECLAC (2012), factors that help SMEs improve their business performance include access to knowledge and information (from customers and suppliers) and the implementation of managerial systems, such as supply chain integration (SCI). This research examines the relationship between SCI and the business performance of metal-mechanics manufacturing SMEs in the metropolitan zone of Guadalajara (ZMG), Jalisco, Mexico. The findings indicate that supplier integration, internal integration, and customer integration have a positive and significant impact on business performance. Juan Bernardino Arellano-Rodríguez Copyright (c) 2024 Juan Bernardino Arellano-Rodríguez https://creativecommons.org/licenses/by-nc-sa/4.0 2024-12-03 2024-12-03 8 2 e628 e628 10.26784/sbir.v8i2.628 https://sbir.upct.es/index.php/sbir/article/view/660 This study aims to analyze the influence of digital transformation on innovation and the moderating role of barriers to digitalization in this relationship within Brazilian micro, small, and medium enterprises (MSMEs). The sample comprises 731 Brazilian MSMEs. The findings indicate that digital transformation, characterized by digitalization strategies and technology usage, has a positive and significant impact on innovation. Moreover, barriers to digitalization negatively and significantly affect the relationship between digital transformation and innovation, but this effect is observed only in medium-sized enterprises. This study contributes to strategic management practices by providing insights into the role of digital transformation in business innovation. Future research should investigate why barriers to digitalization do not consistently impact the relationship between digital transformation and innovation. Edna Cassaro Ieda Margarete Oro Sérgio Begnini Marcos Ricardo Rosa Georges Copyright (c) 2024 Edna Cassaro, Ieda Margarete Oro, Sérgio Begnini, Marcos Ricardo Rosa Georges https://creativecommons.org/licenses/by-nc-sa/4.0 2024-12-03 2024-12-03 8 2 e660 e660 10.26784/sbir.v8i2.660 https://sbir.upct.es/index.php/sbir/article/view/626 This study focusses on knowledge absorption in SMEs and their abilities to develop innovations. It does so by examining SMEs in three different economic sectors, namely, manufacturing, high-tech and services. In doing so it provides one of the first comparative studies of SMEs within these different sectors. It also examines variations by place and compares the performance of SMEs across four distinct places within the UK. The research is based around both a quantitative analysis of firm performances followed by a detailed in-depth qualitative study. Our results focussed on the stages of knowledge transfer from acquisition, assimilation, through to the transformation and exploitation of knowledge. The findings draw attention to the significance. of management practices within SMEs and recognised the importance of open innovation. The study indicates that place alone does not play a key role, compared with the industry sector. Gareth Shaw David F Murphy Alison Marshall Alessandro Rosiello Vania Sena Junxiong Li Copyright (c) 2024 Gareth Shaw, David F Murphy, Alison Marshall, Alessandro Rosiello, Vania Sena, Junxiong Li https://creativecommons.org/licenses/by-nc-sa/4.0 2024-11-27 2024-11-27 8 2 e626 e626 10.26784/sbir.v8i2.626 https://sbir.upct.es/index.php/sbir/article/view/670 While extensive research exists on immigrants as workers and migrant laborers, studies on immigrants as entrepreneurs in emerging economies are only beginning to emerge. This article addresses the limited knowledge on how immigrant entrepreneurs' agency, particularly their motivations, influences their enterprise growth. It provides a novel, in-depth analysis of how immigrant entrepreneurs leverage self-efficacy and social capital to navigate the challenges posed by the regulatory institutional environment. The study was conducted in South Africa using primary survey data, analyzed through Partial Least Squares Structural Equation Modeling (PLS-SEM) to test the proposed hypotheses. The findings indicate that entrepreneurial self-efficacy has a positive and significant impact on the growth and innovation performance of immigrant enterprises. However, the moderating effects of institutional factors were not significant in this relationship. This study underscores the importance of key drivers of immigrant entrepreneurship within emerging market contexts. The insights gained may be adapted by immigrant entrepreneurs to their specific local environments. The originality of this research lies in establishing closer empirical connections between previously unlinked factors in the study of immigrant entrepreneurship within an African market context. Boris Urban Mahad Moti Copyright (c) 2024 Boris Urban, Mahad Moti https://creativecommons.org/licenses/by-nc-sa/4.0 2024-10-10 2024-10-10 8 2 e670 e670 10.26784/sbir.v8i2.670 https://sbir.upct.es/index.php/sbir/article/view/645 Entrepreneurship promotes economic growth, particularly in developing economies where small and medium-sized enterprises (SMEs) are a significant source of employment and economic activity. However, SMEs in developing countries often face various resource constraints and weak institutions, forcing them to engage in entrepreneurial bricolage behavior by creatively combining existing resources. This study explores the relationship between entrepreneurial bricolage and product, process, and marketing innovation among SMEs in the Philippines. Logistic regression estimates reveal that entrepreneurial bricolage has a significant and positive impact on product, process, and marketing innovation. As entrepreneurial bricolage behavior increases, so does the probability of innovation, highlighting the importance of creative problem-solving in settings with inadequate resources. The study also emphasizes the need for policies that support SMEs by providing enabling resources, such as robust infrastructure and reliable communication platforms, to encourage firm innovation that fosters positive spill-over effects on the broader economy. John Paul C. Flaminiano Copyright (c) 2024 John Paul C. Flaminiano https://creativecommons.org/licenses/by-nc-sa/4.0 2024-06-26 2024-06-26 8 2 e645 e645 10.26784/sbir.v8i1.645 https://sbir.upct.es/index.php/sbir/article/view/627 One of the biggest challenges for employers is retaining employees, who are crucial for enhancing company performance, especially in SMEs. This research aims to determine the influence of Green Quality of Work Life, Green Employee Engagement, and Green Rewards on Green Employee Retention. The study employs a quantitative approach, sampling 204 SME employees in Indonesia, determined using the Slovin formula with a 7% margin of error. Quota sampling techniques and questionnaires distributed via Google Forms were used for data collection. The analytical tool used is SEM PLS version 4, incorporating validity and reliability testing, Fornell-Larcker Criterion, Heterotrait-Monotrait Ratio, and hypothesis testing, with responses measured on a 5-point Likert scale. The results indicate that Green Quality of Work Life does not significantly affect Green Employee Retention. However, Green Employee Engagement and Green Rewards have a significant impact on Green Employee Retention. The theoretical contribution of this research lies in the application of financial motivation theory, particularly regarding the lowest mean of the first indicator. This theory could be valuable as a moderator in future research models. Practically, the study suggests that increasing salaries and providing knowledge and training as forms of additional expertise can enhance employee retention. Putri Wicaksari Asep Rokhyadi Permana Saputra Aminah Nur Rahmah Copyright (c) 2024 Putri Wicaksari, Asep Rokhyadi Permana Saputra, Aminah Nur Rahmah https://creativecommons.org/licenses/by-nc-sa/4.0 2024-06-26 2024-06-26 8 2 e627 e627 10.26784/sbir.v8i1.627 https://sbir.upct.es/index.php/sbir/article/view/611 This paper examines the reciprocal relationship between perceived organizational support (POS) and employee engagement within small and medium-sized enterprises (SMEs) during the COVID-19 pandemic. During this crisis, a positive association was observed: SMEs that committed to their employees tended to see a corresponding engagement from their employees. To assess how performance influenced this relationship, the study also explored whether this reciprocal pattern varied with different levels of business performance—decreased, unchanged, or improved—relative to pre-crisis economic performance. An empirical analysis was conducted on a sample of 114 SMEs from the Andalusian region (Spain) using a regression model with mediating effects. The findings reveal that reciprocity between POS and employee engagement was evident during the pandemic and was particularly strong among SMEs belonging to the sub-sample with negative economic results. Vera Ferrón Vílchez María Eugenia Senise Barrio Rocío Llamas Sánchez Copyright (c) 2024 Vera Ferrón Vílchez, María Eugenia Senise Barrio, Rocío Llamas Sánchez https://creativecommons.org/licenses/by-nc-sa/4.0 2024-05-09 2024-05-09 8 2 e611 e611 10.26784/sbir.v8i1.611 https://sbir.upct.es/index.php/sbir/article/view/617 This study aims to deepen our understanding of the theoretical frameworks that underlie SMEs' disclosure of sustainability information. Qualitative empirical research was conducted on SMEs that proactively engage in sustainability reporting. To identify the key drivers, interviews were conducted with a sample of Spanish SMEs, and the reasons for sustainability reporting provided by informants were ranked by frequency. Our findings indicate that stakeholder theory holds a prominent position, closely followed by legitimacy theory and the resource-based view. This ranking reveals a mixture of external and internal drivers, contributing to the existing literature by emphasizing the predominance of management factors over sociological arguments in favor of sustainability reporting in SMEs. Regulators, practitioners, and academics can benefit from these findings to better understand the decision-making processes of SMEs regarding sustainability reporting practices, while accounting for their relationships in the contexts in which they operate. M. Dolores Guerrero-Baena Francisca Castilla-Polo Pablo Rodríguez-Gutiérrez Copyright (c) 2024 M. Dolores Guerrero-Baena, Francisca Castilla-Polo, Pablo Rodríguez-Gutiérrez https://creativecommons.org/licenses/by-nc-sa/4.0 2024-05-09 2024-05-09 8 2 e617 e617 10.26784/sbir.v8i1.617 https://sbir.upct.es/index.php/sbir/article/view/581 This paper aims to examine how local firms can learn from the export activities of large multinational corporations (MNCs). Arguing that MNCs’ export activities could act as catalysts for local firms, allowing them to start exporting or intensify their export volume, we hypothesize that the size and extent of export spillovers depend on the linkage between local firms and MNCs, the geographical distance between them in the home country, and the foreign export market destination in terms of psychic distance from the home market. Using Swiss manufacturing firm-level data, we found support to this learning by exporting effect through which local firms benefit from the presence of MNCs’ exporter counterparts and the export activities of their upstream MNCs’ suppliers, with particular effects of the nature and the physical location of destinations. From these findings, several important academic and practical implications are exhibited and discussed Lamia Ben Hamida Copyright (c) 2024 Lamia Ben Hamida https://creativecommons.org/licenses/by-nc-sa/4.0 2024-02-15 2024-02-15 8 2 e581 e581 10.26784/sbir.v8i1.581 https://sbir.upct.es/index.php/sbir/article/view/613 This study examines the impact of coupled open innovation and dynamic capabilities processes on innovation performance. A Partial Least Square-Structural Equation Modelling (PLS-SEM) analysis on data from surveying a quota sample of 213 Tanzanian Micro and Small Furniture Industries (MSFIs) reveals that dynamic capabilities form sequential processes mediating the significantly positive effect of coupled open innovation on innovation performance. These findings underscore the synergy between dynamic capabilities and open innovation perspectives, emphasizing the importance for micro and small business managers and policymakers to cultivate complementary sets of dynamic capabilities for the effective realization of innovation performance Yohana Sesabo Mushumbusi Kato Emmanuel James Chao Copyright (c) 2023 Yohana Sesabo, Mushumbusi Kato, Emmanuel James Chao https://creativecommons.org/licenses/by-nc-sa/4.0 2023-12-31 2023-12-31 8 2 e613 e613 10.26784/sbir.v7i2.613 https://sbir.upct.es/index.php/sbir/article/view/605 This study explores the potential effects of different combinations of growth-seeking strategies on performance in SMEs during long times of economic boom and crisis. Our hypotheses are tested on a representative sample of Spanish SMEs between 1994 and 2014. During these years Spain suffered one of the periods of greatest economic stability/growth in recent years (1994-2008), followed immediately by a period of severe crisis (2009-2014). Using dynamic panel data models, our findings reveal that four combinations exhibit a positive and statistically significant effect on performance in times of economic boom: a related product strategy combined with low, moderate, or high levels of internationalization, and an unrelated one combined with a moderate level of internationalization. Meanwhile, we find only two combinations with a positive impact on SME performance in times of crisis: a related product strategy combined with low and moderate levels of internationalization, respectively Diana Benito-Osorio Alberto Colino-Fernández Luis Ángel Guerras-Martín José Ángel Zúñiga-Vicente Copyright (c) 2023 Diana Benito-Osorio, Alberto Colino-Fernández, Luis Ángel Guerras-Martín, José Ángel Zúñiga-Vicente https://creativecommons.org/licenses/by-nc-sa/4.0 2023-12-31 2023-12-31 8 2 e605 e605 10.26784/sbir.v7i2.605 https://sbir.upct.es/index.php/sbir/article/view/587 This study aims to provide valuable insights into the containment challenges faced by Ghanaian SMEs during the COVID-19 pandemic and how these challenges impacted key performance indicators (KPIs). Utilizing the partial least square approach of structural equation modelling (PLS-SEM), data collected from a sample of 152 Ghanaian SMEs are examined. The findings underscore the adverse influence of pandemic-related containment measures on financial performance, sales performance, employee satisfaction, and customer satisfaction, while revealing an increase in online engagement as SMEs adapted their business models. Thus, this study highlights the significance of bolstering dynamic capabilities, with a particular focus on digital transformation and leveraging online platforms, as a means to enhance resilience and adaptability for SMEs amidst challenging containment conditions. Theoretical implications emphasize the crucial role of dynamic capabilities in navigating uncertainty and volatility during crises, while the practical implications offer valuable guidance for small business owners in developing economies as they strive to mitigate the impacts of containment measures during public health emergencies on their businesses Karikari Amoa-Gyarteng Shepherd Dhliwayo Victoria Adekomaya Copyright (c) 2023 Karikari Amoa-Gyarteng, Shepherd Dhliwayo, Victoria Adekomaya https://creativecommons.org/licenses/by-nc-sa/4.0 2023-12-31 2023-12-31 8 2 e587 e587 10.26784/sbir.v7i2.587 https://sbir.upct.es/index.php/sbir/article/view/612 With a perspective rooted in the resource-based view (RBV), this study focuses on analysing the configurational interaction of various strategic determinants that influence the export activity intensity of small and medium enterprises (SMEs) in the Spanish agricultural sector. Five key determinants are examined –innovation, collaboration, export promotional instruments, internal resources, and export destination– adopting a qualitative comparative analysis of fuzzy sets (fsQCA) to identify combinations of conditions that lead to higher SME export activity. Based on data from 68 agricultural SMEs in Spain, results show the importance of combined strategic adoptions vis-à-vis improving SMEs’ export activity. The study contributes to the literature by providing new insights into the impact of multiple resources on the export performance of SMEs Joaquín Monreal-Pérez Omar Ifakhkharen-Rziki Copyright (c) 2023 Joaquín Monreal-Pérez, Omar Ifakhkharen-Rziki https://creativecommons.org/licenses/by-nc-sa/4.0 2023-12-31 2023-12-31 8 2 e612 e612 10.26784/sbir.v7i2.612 https://sbir.upct.es/index.php/sbir/article/view/597 This study investigates the behavioral patterns of Small and Medium-Sized Family Firms (SMFFs) in terms of translating intellectual capital efficiency into economic performance while considering their geographical location. The findings underscore the paramount importance of effective intellectual capital management in driving business performance, particularly for SMFFs, drawing upon the knowledge-based perspective. In line with behavioral theory, this study also provides empirical evidence demonstrating that SMFFs located in rural areas adeptly navigate locational challenges by effectively translating their Added Value Intellectual Coefficient (VAIC) into sustainable performance, thereby outperforming their urban counterparts. This phenomenon, referred to as SMFF heterogeneity, can be attributed to their profound emotional connection and deep-rooted bonds with their local communities, intensifying their commitment to the regional milieu. Consequently, their success becomes intricately linked with the spatial context they inhabit. In this regard, this research offers significant practical and theoretical contributions to the understanding of SMFFs, shedding light on the interplay between intellectual capital, geographic location, and sustainable performance in the intricate landscape of family firms María del Carmen López Taravilla Montserrat Manzaneque-Lizano Jesús Fernando Santos-Peñalver Carolina Feliciana Machado Copyright (c) 2023 María del Carmen López Taravilla, Montserrat Manzaneque-Lizano, Jesús Fernando Santos-Peñalver, Carolina Feliciana Machado https://creativecommons.org/licenses/by-nc-sa/4.0 2023-12-31 2023-12-31 8 2 e597 e597 10.26784/sbir.v7i2.597 https://sbir.upct.es/index.php/sbir/article/view/570 Knowledge management and information systems have garnered increased attention for their potential to enhance venture performance. However, there is limited research on the specific competences of information systems based on knowledge management within the context of micro and small businesses. This study aims to fill this gap by examining small businesses in the entrepreneurship field to determine whether they recognize the importance of these competences. The research focuses on a sample of 70 small businesses operating in lower-middle-income economies and employs a fuzzy-set qualitative comparative analysis (fsQCA) methodology. The findings reveal that smaller businesses acknowledge the significance of information systems competences in facilitating their organizational development and that these ventures are increasingly exposed to the value of knowledge management in their day-to-day operations. This study contributes to the existing literature by shedding light on the role of smaller businesses in lower-middle-income economies. Aaron A. Vargas-Zeledon Copyright (c) 2023 Aaron A. Vargas-Zeledon https://creativecommons.org/licenses/by-nc-sa/4.0 2023-06-27 2023-06-27 8 2 e570 e570 10.26784/sbir.v7i1.570 https://sbir.upct.es/index.php/sbir/article/view/542 The aim of this article is to detect the business model factors that increase firm performance. To carry out this research, a survey was conducted among the CEOs of seventy companies in the Region of Murcia, Spain, belonging to different sectors of economic activity. The empirical evidence obtained indicates that the characteristics of a company's business model affect its performance and future viability. In this sense, the article confirms that the business model factors that contribute to improving the future viability of a firm are mainly innovation, professionalization of the economic-financial area, investment in employees, and strengthening of the commercial area. Therefore, firms that wish to improve their long-term performance should especially strengthen these characteristics of the business model. José Miguel Ortiz García de las Bayonas María Concepción Parra Meroño Gonzalo Wandosell Fernández de Bobadilla Copyright (c) 2023 José Miguel Ortiz García de las Bayonas, María Concepción Parra Meroño, Gonzalo Wandosell Fernández de Bobadilla https://creativecommons.org/licenses/by-nc-sa/4.0 2023-05-22 2023-05-22 8 2 e542 e542 10.26784/sbir.v7i1.542 https://sbir.upct.es/index.php/sbir/article/view/547 This study examines the impact of entrepreneurial orientation on company performance and competitive advantage in the context of small and medium-sized enterprises (SMEs). Based on 100 SMEs in the culinary sector in Indonesia and using a quantitative approach based on PLS-SEM data analysis, our study reveals that entrepreneurial orientation influences company performance through competitive advantage. This research will help SME owners and managers to deal with the required entrepreneurial orientation without taking excessive risks that could be detrimental to company performance and competitive advantage. Randitya Perdana Arum Prasasti Copyright (c) 2023 Randitya Perdana, Arum Prasasti https://creativecommons.org/licenses/by-nc-sa/4.0 2023-04-03 2023-04-03 8 2 e547 e547 10.26784/sbir.v7i1.547 https://sbir.upct.es/index.php/sbir/article/view/541 Various corporate governance theories indicate that governance in small and medium-sized enterprises (SMEs) differs to that of larger corporations due to the ownership-management function within the organizational structure. This article provides empirical evidence of enhanced firm value in a sample of listed SMEs resulting from certain corporate governance mechanisms related to managerial and ownership concentration. The empirical analysis conducted in this paper is based on a panel data set consisting of 108 small and medium-sized public firms on the Spanish alternative stock exchange over a time frame of five years (2015-2019). The results suggest that CEO duality, the controlling shareholders, and the second largest shareholders all improve firm value. Conversely, the ratio of independent directors has a negative impact on firm value. These findings are robust to alternative model specifications such as dynamic panel estimators (Generalized Method of Moments -GMM-) and instrumental variable methods. Overall, we show that the governance configuration of listed SMEs can mitigate several of the central issues, such as agency problems, that large corporations face. Leslie Rodríguez-Valencia Prosper Lamothe Fernández Copyright (c) 2023 Leslie Rodríguez-Valencia, Prosper Lamothe Fernández https://creativecommons.org/licenses/by-nc-sa/4.0 2023-03-07 2023-03-07 8 2 e541 e541 10.26784/sbir.v7i1.541 https://sbir.upct.es/index.php/sbir/article/view/503 The aim of this study is to analyze the effects of Organizational Learning (OL) and Entrepreneurial Orientation (EO) on the profitability of MSMEs. To this end, field research was conducted on a sample of 1,620 companies located in Argentina (630), Mexico (550), and Ecuador (440). The data collection was carried out between May and September 2020, through a structured questionnaire addressed to the highest level of the company. The results were analyzed and validated using the partial least square (PLS) structural equation modeling (SEM) statistical technique. This work contributes to the development of the literature on dynamic capabilities, social capital theory, and stakeholder theory. Our results reveal that Entrepreneurial Orientation is a determinant variable for generating better Environmental Corporate Social Responsibility (ESCR) practices and is key to increasing the financial profitability of MSMEs. Furthermore, it is found that ESCR is a variable that partially mediates between EO and the Performance of MSMEs. Nicolás Salvador Beltramino Luis Enrique Valdez-Juárez Juan Marcelo Ingaramo Lilia Carina Gazzaniga Natalia Andrea Beltramino Copyright (c) 2023 Nicolás Salvador Beltramino, Luis Enrique Valdez-Juárez, Juan Marcelo Ingaramo, Lilia Carina Gazzaniga, Natalia Andrea Beltramino https://creativecommons.org/licenses/by-nc-sa/4.0 2023-03-07 2023-03-07 8 2 e503 e503 10.26784/sbir.v7i1.503