Innovation and bank performance in the digital transformation ERA: Evidence from Vietnam
Main Article Content
Abstract
The number of smartphone users in Vietnam ranked 10th globally in 2020, and Vietnam is considered a high-growth digital economy market in Southeast Asia. Thus, this study examines the impacts of innovations in mobile banking applications (MBA) and research and development (R&D) costs on bank performance. We employ the dynamic system Generalized Method of Moments (GMM) to analyze 35 commercial banks in Vietnam from 2009 to 2020. Our findings show that innovations and application software positively impact banks' net interest margin (NIM). Applied mobile banking increased by 0.012% in NIM, and R&D costs empowered 0.011% of the bank’s performance in Vietnam. The robustness test confirms that our main findings are persistent. The result highlights a new perspective on innovation that can help banks seize business opportunities more effectively. Our findings also offer practical implications for promoting a sustainable banking sector.
Article Details
Keywords
Bank performance, Net interest margins, Mobile banking app, Research and development
References
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Abualloush, S., Bataineh, K., & Aladwan, A. S. (2017). Impact of information systems on innovation (product innovation, process innovation)-field study on the housing bank in Jordon. International Journal of Business Administration, 8(1), 95-105. http://dx.doi.org/10.5430/ijba.v8n1p95
Adesina, K. S. (2021). How diversification affects bank performance: The role of human capital. Economic Modelling, 94, 303-319. https://doi.org/10.1016/j.econmod.2020.10.016
Akhisar, I., Tunay, K. B., & Tunay, N. (2015). The effects of innovations on bank performance: The case of electronic banking services. Procedia-Social and Behavioral Sciences, 195, 369-375. https://doi.org/10.1016/j.sbspro.2015.06.336
Bagudu, H. D., Mohd Khan, S. J., & Roslan, A.-H. (2017). The effect of mobile banking on the performance of commercial banks in Nigeria. International Research Journal of Management, IT & Social Sciences, 4(2), 71-76. http://dx.doi.org/10.21744/irjmis.v4i2.392
Berg, T., Fuster, A., & Puri, M. (2022). Fintech lending. Annual Review of Financial Economics, 14, 187-207. https://doi.org/10.1146/annurev-financial-101521-112042
Brown, J. R., Fazzari, S. M., & Petersen, B. C. (2009). Financing innovation and growth: Cash flow, external equity, and the 1990s R&D boom. The Journal of Finance, 64(1), 151-185. https://doi.org/10.1111/j.1540-6261.2008.01431.x
Carbo-Valverde, S., Rodriguez-Fernandez, F., & Udell, G. F. (2009). Bank market power and SME financing constraints. Review of Finance, 13(2), 309-340. https://doi.org/10.1093/rof/rfp003
Chalabi, F. (2020). The impact of innovation on banking performance: Evidence from Lebanese banking sector. Journal of Applied Finance and Banking, 10(6), 175-202. https://doi.org/10.47260/jafb/1069
Claeys, S., & Vander Vennet, R. (2008). Determinants of bank interest margins in Central and Eastern Europe: A comparison with the West. Economic Systems, 32(2), 197-216. https://doi.org/10.1016/j.ecosys.2007.04.001
Dimelis, S., Giotopoulos, I., & Louri, H. (2017). Can firms grow without credit? A quantile panel analysis in the euro area. Journal of Industry, Competition and Trade, 17, 153-183. https://doi.org/10.1007/s10842-016-0216-1
Dinh, V., Le, U., & Le, P. (2015). Measuring the impacts of internet banking to bank performance: Evidence from Vietnam. The Journal of Internet Banking and Commerce, 20(2). http://dx.doi.org/10.4172/1204-5357.1000103
Do, T. D., Pham, H. A. T., Thalassinos, E. I., & Le, H. A. (2022). The impact of digital transformation on performance: Evidence from Vietnamese commercial banks. Journal of Risk and Financial Management, 15(1), 21. https://doi.org/10.3390/jrfm15010021
Doyran, M. A. (2013). Net interest margins and firm performance in developing countries: Evidence from Argentine commercial banks. Management Research Review, 36(7), 720-742. https://doi.org/10.1108/MRR-05-2012-0100
El-Chaarani, H., & El-Abiad, Z. (2018). The impact of technological innovation on bank performance. Journal of Internet Banking and Commerce, 23(3). https://ssrn.com/abstract=3845169
Eng, T. S. (2013). Pengaruh NIM, BOPO, LDR, NPL & CAR Terhadap Roa Bank Internasional Dan Bank Nasional Go Public Periode 2007–2011. Jurnal dinamika manajemen, 1(3). https://doi.org/10.22437/jdm.v1i3.1473
Evian, M., Limijaya, A., & Hutagaol-Martowidjojo, Y. (2021, August). An analysis on the effect of e-banking on bank performance in Indonesia. In 2021 International Conference on Information Management and Technology (ICIMTech), 1, 187-192. https://doi.org/10.1109/ICIMTech53080.2021.9535039
Fungáčová, Z., Shamshur, A., & Weill, L. (2017). Does bank competition reduce cost of credit? Cross-country evidence from Europe. Journal of Banking & Finance, 83, 104-120. https://doi.org/10.1016/j.jbankfin.2017.06.014
Gaudio, B. L. D., Porzio, C., Sampagnaro, G., & Verdoliva, V. (2021). How do mobile, internet and ICT diffusion affect the banking industry? An empirical analysis. European Management Journal, 39(3), 327-332. https://doi.org/10.1016/j.emj.2020.07.003
Gomber, P., Koch, J.-A., & Siering, M. (2017). Digital Finance and FinTech: current research and future research directions. Journal of Business Economics, 87, 537-580. https://doi.org/10.1007/s11573-017-0852-x
Greene, W. (2005). Fixed and random effects in stochastic frontier models. Journal of Productivity Analysis, 23, 7-32. https://doi.org/10.1007/s11123-004-8545-1
Hamadi, H., & Awdeh, A. (2012). The determinants of bank net interest margin: Evidence from the Lebanese banking sector. Journal of Money, Investment and Banking, 23(3), 86-98. https://mpra.ub.uni-muenchen.de/id/eprint/119121
Hamdi, H., Hakimi, A., & Zaghdoudi, K. (2017). Diversification, bank performance and risk: have Tunisian banks adopted the new business model?. Financial innovation, 3(1), 1-25. https://doi.org/10.1186/s40854-017-0069-6
Isshaq, Z., Amoah, B., & Appiah-Gyamerah, I. (2019). Non-interest income, risk and bank performance. Global Business Review, 20(3), 595-612. https://doi.org/10.1177/0972150919837061
Kamau, D. M., & Oluoch, J. (2016). Relationship between financial innovation and commercial bank performance in Kenya. International Journal of Social Sciences and Information Technology, 2(4), 34-47. https://www.ijssit.com/main/wp-content/uploads/2016/06/RELATIONSHIP-BETWEEN-FINANCIAL-INNOVATION-AND-COMMERCIAL-BANK-PERFORMANCE-IN-KENYA.pdf
Khan, M. A., Siddique, A., & Sarwar, Z. (2020). Determinants of non-performing loans in the banking sector in developing state. Asian Journal of Accounting Research, 5(1), 135-145. https://doi.org/10.1108/AJAR-10-2019-0080
Lahouel, B. B., Gaies, B., Zaied, Y. B., & Jahmane, A. (2019). Accounting for endogeneity and the dynamics of corporate social–corporate financial performance relationship. Journal of Cleaner Production, 230, 352-364. https://doi.org/10.1016/j.jclepro.2019.04.377
Li, L., Chen, J., Gao, H., & Xie, L. (2019). The certification effect of government R&D subsidies on innovative entrepreneurial firms’ access to bank finance: Evidence from China. Small Business Economics, 52, 241-259. https://doi.org/10.1007/s11187-018-0024-6
Li, X., & Song, C. (2021). Does the target market affect bank performance? Evidence from the geographic diversification of city commercial banks in China. Frontiers of Business Research in China, 15(1), 1-25. https://doi.org/10.1186/s11782-021-00104-x
Liang, Q., Li, X., Yang, X., Lin, D., & Zheng, D. (2013). How does family involvement affect innovation in China? Asia Pacific Journal of Management, 30, 677-695. https://doi.org/10.1007/s10490-012-9320-x
Lin, X. Q., Chen, Y. C., Liu, C. H., & Li, Y. Q. (2023). Measuring creativity: role of service quality management, knowledge sharing and social interaction. Total Quality Management & Business Excellence, 34(1-2), 1-18. https://doi.org/10.1080/14783363.2021.2021800
Maudos, J., & Solís, L. (2009). The determinants of net interest income in the Mexican banking system: An integrated model. Journal of Banking & Finance, 33(10), 1920-1931. https://doi.org/10.1016/j.jbankfin.2009.04.012
Maudos, J., & De Guevara, J. F. (2004). Factors explaining the interest margin in the banking sectors of the European Union. Journal of Banking & Finance, 28(9), 2259-2281. https://doi.org/10.1016/j.jbankfin.2003.09.004
Mbama, C. I., & Ezepue, P. O. (2018). Digital banking, customer experience and bank financial performance: UK customers’ perceptions. International Journal of Bank Marketing, 36(2), 230-255. https://doi.org/10.1108/IJBM-11-2016-0181
Molla, M. I., & Rahaman, M. K. B. (2022). Effect of advertising spending on operating and market performance of banks: empirical evidence from Bangladesh. Asian Journal of Accounting Research, 7(1), 97-110. https://doi.org/10.1108/AJAR-06-2021-0078
Mutua, R. W. (2013). Effects of mobile banking on the financial performance of commercial banks in Kenya (Doctoral dissertation, University of Nairobi). http://hdl.handle.net/11295/64340
Nguyen, O. T. (2020). Factors affecting the intention to use digital banking in Vietnam. The Journal of Asian Finance, Economics and Business, 7(3), 303-310. http://koreascience.or.kr/article/JAKO202014862061657.pdf
Njiru, C. W. (2014). The effect of internet and mobile banking on financial performance of commercial banks in Kenya (Doctoral dissertation, University of Nairobi). http://erepository.uonbi.ac.ke/bitstream/handle/11295/77583/Njiru_The%20effect%20of%20internet%20and%20mobile%20banking%20on%20financial%20performance%20of%20commercial%20banks%20in%20Kenya.pdf.pdf?sequence=3
Oyewole, O. S., Abba, M., Gambo, J., & Abam, I. (2013). E-banking and bank performance: Evidence from Nigeria. International Journal of Scientific Engineering and Technology, 2(8), 766-771. https://www.indianjournals.com/ijor.aspx?target=ijor:ijset1&volume=2&issue=8&article=004
Porter, M. E. (1996). Competitive advantage, agglomeration economies, and regional policy. International Regional Science Review, 19(1-2), 85-90. https://doi.org/10.1177/016001769601900208
Pradhan, P., Shyam, R., & Khadka, N. (2017). The effect of debt financing on profitability of Nepalese commercial banks. Radhe Shyam and Pradhan, Prof. Dr. Radhe Shyam and Khadka, Nitesh, The Effect of Debt Financing on Profitability of Nepalese Commercial Banks (September 27, 2017). http://dx.doi.org/10.2139/ssrn.3044107
Rahman, M. M., Hamid, M. K., & Khan, M. A. M. (2015). Determinants of bank profitability: Empirical evidence from Bangladesh. International journal of business and management, 10(8), 135. http://dx.doi.org/10.5539/ijbm.v10n8p135
Rubin, A., & Smith, D. R. (2009). Institutional ownership, volatility and dividends. Journal of Banking & Finance, 33(4), 627-639. https://doi.org/10.1016/j.jbankfin.2008.11.008
Saad, W., & El-Moussawi, C. (2012). The determinants of net interest margins of commercial banks in Lebanon. Journal of Money, Investment and Banking, 23, 118-132. https://www.researchgate.net/profile/Wadad-Saad/publication/266592438_The_Determinants_of_Net_Interest_Margins_of_Commercial_Banks_in_Lebanon/links/55bc71c208aed621de0dcbe2/The-Determinants-of-Net-Interest-Margins-of-Commercial-Banks-in-Lebanon.pdf
Salihu, A., Metin, H., Hajrizi, E., & Ahmeti, M. (2019). The effect of security and ease of use on reducing the problems/deficiencies of Electronic Banking Services. IFAC-PapersOnLine, 52(25), 159-163. https://doi.org/10.1016/j.ifacol.2019.12.465
Santos, J. A., & Winton, A. (2019). Bank capital, borrower power, and loan rates. The Review of Financial Studies, 32(11), 4501-4541. https://doi.org/10.1093/rfs/hhz001
Smith, P., & Beretta, M. (2021). The gordian knot of practicing digital transformation: Coping with emergent paradoxes in ambidextrous organizing structures. Journal of Product Innovation Management, 38(1), 166-191. https://doi.org/10.1111/jpim.12548
Sujud, H., & Hashem, B. (2017). Effect of bank innovations on profitability and return on assets (ROA) of commercial banks in Lebanon. International Journal of Economics and Finance, 9(4), 35-50. https://doi.org/10.5539/IJEF.V9N4P35
Vanderpal, G. (2015). Impact of R&D expenses and corporate financial performance. VanderPal, GA (2015). Impact of R&D expenses and corporate financial performance. Journal of Accounting and Finance, 15(7), 135-149. https://ssrn.com/abstract=2959290
Vial, G. (2019). Understanding digital transformation: A review and a research agenda. The journal of strategic information systems, 28(2), 118-144. https://doi.org/10.1016/j.jsis.2019.01.003
Vo, X. V. (2018). Bank lending behavior in emerging markets. Finance Research Letters, 27, 129-134. https://doi.org/10.1016/j.frl.2018.02.011
Vyadrova, N., & Severina, K. (2022). Diversification of the bank's activity and the role of banking services in income formation. Financial and Credit Systems: Prospects for Development, 1(4), 19-27. https://doi.org/10.26565/2786-4995-2022-1-02
Abdulquadri, A., Mogaji, E., Kieu, T. A., & Nguyen, N. P. (2021). Digital transformation in financial services provision: A Nigerian perspective to the adoption of chatbot. Journal of Enterprising Communities: People and Places in the Global Economy, 15(2), 258-281. https://doi.org/10.1108/JEC-06-2020-0126
Abualloush, S., Bataineh, K., & Aladwan, A. S. (2017). Impact of information systems on innovation (product innovation, process innovation)-field study on the housing bank in Jordon. International Journal of Business Administration, 8(1), 95-105. http://dx.doi.org/10.5430/ijba.v8n1p95
Adesina, K. S. (2021). How diversification affects bank performance: The role of human capital. Economic Modelling, 94, 303-319. https://doi.org/10.1016/j.econmod.2020.10.016
Akhisar, I., Tunay, K. B., & Tunay, N. (2015). The effects of innovations on bank performance: The case of electronic banking services. Procedia-Social and Behavioral Sciences, 195, 369-375. https://doi.org/10.1016/j.sbspro.2015.06.336
Bagudu, H. D., Mohd Khan, S. J., & Roslan, A.-H. (2017). The effect of mobile banking on the performance of commercial banks in Nigeria. International Research Journal of Management, IT & Social Sciences, 4(2), 71-76. http://dx.doi.org/10.21744/irjmis.v4i2.392
Berg, T., Fuster, A., & Puri, M. (2022). Fintech lending. Annual Review of Financial Economics, 14, 187-207. https://doi.org/10.1146/annurev-financial-101521-112042
Brown, J. R., Fazzari, S. M., & Petersen, B. C. (2009). Financing innovation and growth: Cash flow, external equity, and the 1990s R&D boom. The Journal of Finance, 64(1), 151-185. https://doi.org/10.1111/j.1540-6261.2008.01431.x
Carbo-Valverde, S., Rodriguez-Fernandez, F., & Udell, G. F. (2009). Bank market power and SME financing constraints. Review of Finance, 13(2), 309-340. https://doi.org/10.1093/rof/rfp003
Chalabi, F. (2020). The impact of innovation on banking performance: Evidence from Lebanese banking sector. Journal of Applied Finance and Banking, 10(6), 175-202. https://doi.org/10.47260/jafb/1069
Claeys, S., & Vander Vennet, R. (2008). Determinants of bank interest margins in Central and Eastern Europe: A comparison with the West. Economic Systems, 32(2), 197-216. https://doi.org/10.1016/j.ecosys.2007.04.001
Dimelis, S., Giotopoulos, I., & Louri, H. (2017). Can firms grow without credit? A quantile panel analysis in the euro area. Journal of Industry, Competition and Trade, 17, 153-183. https://doi.org/10.1007/s10842-016-0216-1
Dinh, V., Le, U., & Le, P. (2015). Measuring the impacts of internet banking to bank performance: Evidence from Vietnam. The Journal of Internet Banking and Commerce, 20(2). http://dx.doi.org/10.4172/1204-5357.1000103
Do, T. D., Pham, H. A. T., Thalassinos, E. I., & Le, H. A. (2022). The impact of digital transformation on performance: Evidence from Vietnamese commercial banks. Journal of Risk and Financial Management, 15(1), 21. https://doi.org/10.3390/jrfm15010021
Doyran, M. A. (2013). Net interest margins and firm performance in developing countries: Evidence from Argentine commercial banks. Management Research Review, 36(7), 720-742. https://doi.org/10.1108/MRR-05-2012-0100
El-Chaarani, H., & El-Abiad, Z. (2018). The impact of technological innovation on bank performance. Journal of Internet Banking and Commerce, 23(3). https://ssrn.com/abstract=3845169
Eng, T. S. (2013). Pengaruh NIM, BOPO, LDR, NPL & CAR Terhadap Roa Bank Internasional Dan Bank Nasional Go Public Periode 2007–2011. Jurnal dinamika manajemen, 1(3). https://doi.org/10.22437/jdm.v1i3.1473
Evian, M., Limijaya, A., & Hutagaol-Martowidjojo, Y. (2021, August). An analysis on the effect of e-banking on bank performance in Indonesia. In 2021 International Conference on Information Management and Technology (ICIMTech), 1, 187-192. https://doi.org/10.1109/ICIMTech53080.2021.9535039
Fungáčová, Z., Shamshur, A., & Weill, L. (2017). Does bank competition reduce cost of credit? Cross-country evidence from Europe. Journal of Banking & Finance, 83, 104-120. https://doi.org/10.1016/j.jbankfin.2017.06.014
Gaudio, B. L. D., Porzio, C., Sampagnaro, G., & Verdoliva, V. (2021). How do mobile, internet and ICT diffusion affect the banking industry? An empirical analysis. European Management Journal, 39(3), 327-332. https://doi.org/10.1016/j.emj.2020.07.003
Gomber, P., Koch, J.-A., & Siering, M. (2017). Digital Finance and FinTech: current research and future research directions. Journal of Business Economics, 87, 537-580. https://doi.org/10.1007/s11573-017-0852-x
Greene, W. (2005). Fixed and random effects in stochastic frontier models. Journal of Productivity Analysis, 23, 7-32. https://doi.org/10.1007/s11123-004-8545-1
Hamadi, H., & Awdeh, A. (2012). The determinants of bank net interest margin: Evidence from the Lebanese banking sector. Journal of Money, Investment and Banking, 23(3), 86-98. https://mpra.ub.uni-muenchen.de/id/eprint/119121
Hamdi, H., Hakimi, A., & Zaghdoudi, K. (2017). Diversification, bank performance and risk: have Tunisian banks adopted the new business model?. Financial innovation, 3(1), 1-25. https://doi.org/10.1186/s40854-017-0069-6
Isshaq, Z., Amoah, B., & Appiah-Gyamerah, I. (2019). Non-interest income, risk and bank performance. Global Business Review, 20(3), 595-612. https://doi.org/10.1177/0972150919837061
Kamau, D. M., & Oluoch, J. (2016). Relationship between financial innovation and commercial bank performance in Kenya. International Journal of Social Sciences and Information Technology, 2(4), 34-47. https://www.ijssit.com/main/wp-content/uploads/2016/06/RELATIONSHIP-BETWEEN-FINANCIAL-INNOVATION-AND-COMMERCIAL-BANK-PERFORMANCE-IN-KENYA.pdf
Khan, M. A., Siddique, A., & Sarwar, Z. (2020). Determinants of non-performing loans in the banking sector in developing state. Asian Journal of Accounting Research, 5(1), 135-145. https://doi.org/10.1108/AJAR-10-2019-0080
Lahouel, B. B., Gaies, B., Zaied, Y. B., & Jahmane, A. (2019). Accounting for endogeneity and the dynamics of corporate social–corporate financial performance relationship. Journal of Cleaner Production, 230, 352-364. https://doi.org/10.1016/j.jclepro.2019.04.377
Li, L., Chen, J., Gao, H., & Xie, L. (2019). The certification effect of government R&D subsidies on innovative entrepreneurial firms’ access to bank finance: Evidence from China. Small Business Economics, 52, 241-259. https://doi.org/10.1007/s11187-018-0024-6
Li, X., & Song, C. (2021). Does the target market affect bank performance? Evidence from the geographic diversification of city commercial banks in China. Frontiers of Business Research in China, 15(1), 1-25. https://doi.org/10.1186/s11782-021-00104-x
Liang, Q., Li, X., Yang, X., Lin, D., & Zheng, D. (2013). How does family involvement affect innovation in China? Asia Pacific Journal of Management, 30, 677-695. https://doi.org/10.1007/s10490-012-9320-x
Lin, X. Q., Chen, Y. C., Liu, C. H., & Li, Y. Q. (2023). Measuring creativity: role of service quality management, knowledge sharing and social interaction. Total Quality Management & Business Excellence, 34(1-2), 1-18. https://doi.org/10.1080/14783363.2021.2021800
Maudos, J., & Solís, L. (2009). The determinants of net interest income in the Mexican banking system: An integrated model. Journal of Banking & Finance, 33(10), 1920-1931. https://doi.org/10.1016/j.jbankfin.2009.04.012
Maudos, J., & De Guevara, J. F. (2004). Factors explaining the interest margin in the banking sectors of the European Union. Journal of Banking & Finance, 28(9), 2259-2281. https://doi.org/10.1016/j.jbankfin.2003.09.004
Mbama, C. I., & Ezepue, P. O. (2018). Digital banking, customer experience and bank financial performance: UK customers’ perceptions. International Journal of Bank Marketing, 36(2), 230-255. https://doi.org/10.1108/IJBM-11-2016-0181
Molla, M. I., & Rahaman, M. K. B. (2022). Effect of advertising spending on operating and market performance of banks: empirical evidence from Bangladesh. Asian Journal of Accounting Research, 7(1), 97-110. https://doi.org/10.1108/AJAR-06-2021-0078
Mutua, R. W. (2013). Effects of mobile banking on the financial performance of commercial banks in Kenya (Doctoral dissertation, University of Nairobi). http://hdl.handle.net/11295/64340
Nguyen, O. T. (2020). Factors affecting the intention to use digital banking in Vietnam. The Journal of Asian Finance, Economics and Business, 7(3), 303-310. http://koreascience.or.kr/article/JAKO202014862061657.pdf
Njiru, C. W. (2014). The effect of internet and mobile banking on financial performance of commercial banks in Kenya (Doctoral dissertation, University of Nairobi). http://erepository.uonbi.ac.ke/bitstream/handle/11295/77583/Njiru_The%20effect%20of%20internet%20and%20mobile%20banking%20on%20financial%20performance%20of%20commercial%20banks%20in%20Kenya.pdf.pdf?sequence=3
Oyewole, O. S., Abba, M., Gambo, J., & Abam, I. (2013). E-banking and bank performance: Evidence from Nigeria. International Journal of Scientific Engineering and Technology, 2(8), 766-771. https://www.indianjournals.com/ijor.aspx?target=ijor:ijset1&volume=2&issue=8&article=004
Porter, M. E. (1996). Competitive advantage, agglomeration economies, and regional policy. International Regional Science Review, 19(1-2), 85-90. https://doi.org/10.1177/016001769601900208
Pradhan, P., Shyam, R., & Khadka, N. (2017). The effect of debt financing on profitability of Nepalese commercial banks. Radhe Shyam and Pradhan, Prof. Dr. Radhe Shyam and Khadka, Nitesh, The Effect of Debt Financing on Profitability of Nepalese Commercial Banks (September 27, 2017). http://dx.doi.org/10.2139/ssrn.3044107
Rahman, M. M., Hamid, M. K., & Khan, M. A. M. (2015). Determinants of bank profitability: Empirical evidence from Bangladesh. International journal of business and management, 10(8), 135. http://dx.doi.org/10.5539/ijbm.v10n8p135
Rubin, A., & Smith, D. R. (2009). Institutional ownership, volatility and dividends. Journal of Banking & Finance, 33(4), 627-639. https://doi.org/10.1016/j.jbankfin.2008.11.008
Saad, W., & El-Moussawi, C. (2012). The determinants of net interest margins of commercial banks in Lebanon. Journal of Money, Investment and Banking, 23, 118-132. https://www.researchgate.net/profile/Wadad-Saad/publication/266592438_The_Determinants_of_Net_Interest_Margins_of_Commercial_Banks_in_Lebanon/links/55bc71c208aed621de0dcbe2/The-Determinants-of-Net-Interest-Margins-of-Commercial-Banks-in-Lebanon.pdf
Salihu, A., Metin, H., Hajrizi, E., & Ahmeti, M. (2019). The effect of security and ease of use on reducing the problems/deficiencies of Electronic Banking Services. IFAC-PapersOnLine, 52(25), 159-163. https://doi.org/10.1016/j.ifacol.2019.12.465
Santos, J. A., & Winton, A. (2019). Bank capital, borrower power, and loan rates. The Review of Financial Studies, 32(11), 4501-4541. https://doi.org/10.1093/rfs/hhz001
Smith, P., & Beretta, M. (2021). The gordian knot of practicing digital transformation: Coping with emergent paradoxes in ambidextrous organizing structures. Journal of Product Innovation Management, 38(1), 166-191. https://doi.org/10.1111/jpim.12548
Sujud, H., & Hashem, B. (2017). Effect of bank innovations on profitability and return on assets (ROA) of commercial banks in Lebanon. International Journal of Economics and Finance, 9(4), 35-50. https://doi.org/10.5539/IJEF.V9N4P35
Vanderpal, G. (2015). Impact of R&D expenses and corporate financial performance. VanderPal, GA (2015). Impact of R&D expenses and corporate financial performance. Journal of Accounting and Finance, 15(7), 135-149. https://ssrn.com/abstract=2959290
Vial, G. (2019). Understanding digital transformation: A review and a research agenda. The journal of strategic information systems, 28(2), 118-144. https://doi.org/10.1016/j.jsis.2019.01.003
Vo, X. V. (2018). Bank lending behavior in emerging markets. Finance Research Letters, 27, 129-134. https://doi.org/10.1016/j.frl.2018.02.011
Vyadrova, N., & Severina, K. (2022). Diversification of the bank's activity and the role of banking services in income formation. Financial and Credit Systems: Prospects for Development, 1(4), 19-27. https://doi.org/10.26565/2786-4995-2022-1-02