Purpose: This study aims to investigate three relevant antecedents of digital transformation (digital orientation, digital intensity and digital maturity) and their influences on the financial success of companies.Design/methodology/approach: Building on the strategic management and digital transformation literature, five hypotheses are developed to find the relationships between these antecedents and financial success.Findings: Digital orientation and digital intensity alone do not contribute to the financial success of companies. Specifically, digital intensity serves as a negative moderator between digital orientation and financial success, meaning that it reduces the performance effects of digital orientation. Digital maturity acts as a mediator between digital orientation and the financial success of companies and between digital intensity and the financial success of companies.Originality/value: This research contributes to the literature on strategic management and digital transformation by providing a further understanding of three relevant antecedents of digital transformation (digital orientation, digital intensity and digital maturity) and how they should be positioned alongside digital transformation settings to achieve financial success.

The aim of this research was to explore the conditions under which digital innovation opportunities emerge in small and medium-sized enterprises (SMEs). The research answered the question of what capabilities are required to shape the exploitation of digital innovation, namely market offerings and the digital business process. To address the research question with a quantitative research method, data were collected through survey questionnaires distributed among 280 SMEs operating in the service and manufacturing industries in Finland. The results revealed that among four digital-related capabilities—namely human, collaboration, technical, and innovation capabilities—human, technical, and innovation capabilities contribute to market offerings, while human, collaboration, and technical capabilities contribute to the business process.

This study aimed to identify the internal and external environments of a company that affect sustainable innovation in such small enterprises by examining the circumstances under which small enterprises are likely to engage in sustainable innovation. The results of this study demonstrate that companies with high levels of digital orientation in their operations contributed more to sustainable innovation than those without such high levels. In addition, in the external environment, factors that include market and technological turbulence have a negative effect on sustainable innovation. However, the adoption of sustainable innovation was not significantly impacted by market turbulence. Furthermore, certain company characteristics, such as size and maturity, do not determine the contribution of a company's internal and external environments to sustainable innovation.

The aim of this research is to investigate the mediating effect of performance measurement systems (PMS) in the connection between digital-related capabilities and financial performance. Moreover, this research examines how different types of digital-related capabilities can fuel PMS, leading to improved financial performance. The findings show that PMS significantly mediate the relationship between digital-related human and collaboration capabilities and financial performance. However, a significant mediating effect of PMS was not found between digital-related technical and innovation capabilities and financial performance. Using a structured survey questionnaire, the data was collected from Finnish SMEs, which operate in both the service and manufacturing industries.