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Do Financial Strategy, Survival Strategy and Business Innovation Influence Small and Medium Enterprises (SMEs) Sustainability During COVID- 19 Pandemic? A Malaysian Evidence

Author

Listed:
  • Maz Ainy Abdul Azis

    (Faculty of Accountancy, Universiti Teknologi MARA, 42300 Bandar Puncak Alam, Selangor, Malaysia; maz731@uitm.edu.my (M.A.A.A.).)

  • Siti Hajar Idayu Daud

    (Faculty of Accountancy, Universiti Teknologi MARA, 42300 Bandar Puncak Alam, Selangor, Malaysia; maz731@uitm.edu.my (M.A.A.A.).)

  • Erlane K. Ghani

    (Faculty of Accountancy, Universiti Teknologi MARA, 42300 Bandar Puncak Alam, Selangor, Malaysia; maz731@uitm.edu.my (M.A.A.A.).)

  • Kamaruzzaman Mohammad

    (Faculty of Accountancy, Universiti Teknologi MARA, 42300 Bandar Puncak Alam, Selangor, Malaysia; maz731@uitm.edu.my (M.A.A.A.).)

  • Elvira Luthan

    (Fakultas Ekonomi & Bisnis, Universitas Andalas. 25175 Padang, Indonesia.)

Abstract

This study examines factors that influence the business sustainability of Small and Medium Enterprises (SMEs) during COVID-19 pandemic. In particular, it assesses the effect of financial strategy, survival strategy and business innovation on the SMEs sustainability during pandemic. Using a survey questionnaire as the research instrument on 132 of SMEs the results show that there is a positive relationship between survival strategy and business innovation on the SMEs sustainability. Financial strategy however shows an adverse result by the significant negative relationship towards SMEs sustainability. The findings also demonstrate that all the three factors have significant influence on SMEs sustainability during COVID-19 pandemic. This study provides understanding on the SMEs owner’s viewpoint and their strategies they adapted during the critical period such as Pandemic COVID-19 to remain sustain and resilience. This study also provides significant practical implications and inputs for the Regulatory bodies in formulating intervention strategies in the future. In addition, this study will help academics in understanding the factors related to business sustainability that are important inputs in their studies.

Suggested Citation

  • Maz Ainy Abdul Azis & Siti Hajar Idayu Daud & Erlane K. Ghani & Kamaruzzaman Mohammad & Elvira Luthan, 2025. "Do Financial Strategy, Survival Strategy and Business Innovation Influence Small and Medium Enterprises (SMEs) Sustainability During COVID- 19 Pandemic? A Malaysian Evidence," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(8), pages 911-932, August.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-8:p:911-932
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    References listed on IDEAS

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    1. Gilberto Gallopín & Luis M. Jiménez Herrero & Asthriesslav Rocuts, 2014. "Conceptual frameworks and visual interpretations of sustainability," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 17(3), pages 298-326.
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