Environment Systems and Decisions (2021) 41:616–632

https://doi.org/10.1007/s10669-021-09823-1

Big data and predictive analytics to optimise social and environmental

performance of Islamic banks
Qaisar Ali1   · Hakimah Yaacob1 · Shazia Parveen2 · Zaki Zaini1

Accepted: 24 June 2021 / Published online: 2 July 2021

© The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2021

Abstract
Regardless of known as environment-friendly entities, Islamic banks indirectly impact the environment through their cli-
ents’ engagement and slow response to sustainability concepts. The usage of big data and predictive analytics (BDPA) is
substantially grounded in the financial industry; however, there is little information on how BDPA influences social and
environmental performance. This study investigates the impact of BDPA on social performance (SP) and environmental
performance (EP) of these Islamic banks using dynamic capability view (DCV) and organisational culture as a moderator.
The data were collected from 407 executives and managers from 20 Islamic banks in Malaysia. The data were analysed
using the structural equation modelling (PLS) technique. The results show that BDPA has a significant impact on SP and EP,
whereas organisational culture (flexibility-oriented and control-oriented culture) does not affect the nexus between BDPA
and SP/EP. This study contributes to understanding the performance implications of BDPA as well as empirically analyses
how and when to use BDPA to improve the social and environmental performance of Islamic banks.

Keywords  Big data · Predictive analytics · Dynamic capability view · Social performance; environmental performance ·
Islamic banks · Malaysia

1 Introduction MYR40 trillion (Rasiah et al. 2017). The World Economic

Social and environmental sustainability is an authoritative
concept in the business lexicon (Annachiara and Raffaella
2015; Shrivastava and Guimarães-Costa 2017; Sengers et al.
2019) In general, organisations respond to external pres-
sure from policymakers, consumers, and internal pressure
from the stakeholders; however, organisational growth and
its social and environmental consequences remain in the
limelight (Song et al. 2018). Furthermore, organisations
lack access to information and data related to environmen-
tal issues and their effects on other sustainability dimensions
which could be a costly affair (Kunhibava et al. 2018). A
recent empirical study in Malaysia projected that the lack of
climate mitigation policy may cost the country a staggering
* Qaisar Ali
aliqaisar21@gmail.com
1
Faculty of Islamic Economics and Finance (FEKIM),
Universiti Islam Sultan Sharif Ali, Bandar Seri Begawan,
Brunei Darussalam
2
Azman Hashim International Business School, Universiti
Teknologi Malaysia, Skudai, Malaysia
Forum’s Global Risks Report (2020) warned that the likeli-
hood of the top five risks is related to sustainability and
environmental impact is at the top of the risks.
Even though organisations render inclusive efforts to
manage excessive pressure exerted by external forces such
as regulators, clients, and internal forces (management) yet,
the effective management of these forces remains the sub-
ject of debate (Mueller et al. 2009). Particularly, the con-
cept of sustainability and the financial sector’s contribution
has evolved as a major paradigm of environmental, social,
and corporate governance (ESG) (Kunhibava et al. 2018).
Islamic banks are considered the main beneficiary of ESG as
their activities incorporate Islamic values and laws (shariah)
to safeguard the interest of its shareholders, stakeholders,
and customers’ expectations (Abu Tapanjeh, 2009; Elghu-
weel et al. 2017; Elamer et al. 2020). Therefore, responding
to growing ESG demands on business operations is a key
challenge for the Islamic financial industry.
The emergence of Islamic banking has resulted in a
plethora of research into ESG and has sparked tremen-
dous motivation among researchers to pursue it (Haqeem,
2019). Furthermore, the Islamic banking industry has shown

13
Vol:.(1234567890)
Environment Systems and Decisions (2021) 41:616–632 617
remarkable growth over the last twenty years expanding its
business growth to double digits (Mohd. Yusof and Bahlous,
2013). Similarly, the awareness of ESG has also proliferated
parallel to Islamic banking business growth which signifies
that the concept of ESG based on Islamic accounting values
has become the forefront of Islamic banks (Haqeem, 2019).
This narrative is supported by Lewis’s (2001) research
which argues that accounting and accountability are central
to Islam and Muslims are accountable to Allah (God) and
community in all aspects of life including banking. Hence,
addressing sustainability issues in the growing Islamic bank-
ing industry is timely and in line with ESG requirements.
Social and environmental sustainability is an inter-insti-
tutional, intergovernmental, and inter-industrial issue that
requires overcoming asymmetry in information and data.
Singh & El-Kassar, (2019) argue that incorporating sustain-
able capabilities through organisational commitment driven
by the integration of big data technology improves perfor-
mance. Information sharing at organisational level is an
effective tool to improve visibility and maintain connectivity
(Hitt et al. 2016). We predict that extracting valuable infor-
mation from large datasets such as big data and its applica-
tion (BDPA) may help organisations particularly, Islamic
banks (IBs) concerned with ESG issues (Al-Mubarak and
Goud 2018). Simultaneously, BDPA will also help IBs in
increasing the credibility and accuracy of sustainability
reports (Wanner and Janiesch 2019) which will warrant sus-
tainability science as a substantial part of their triple bottom
line (social, human, and environmental) approach (Marsden
and Wilkinson 2018).
Environmental and social issues are a common concern
for businesses and governments which require developing a
social finance ecosystem (Ahmed 2019). However, organisa-
tions are poorly equipped to address social and environmen-
tal issues due to slow progress in achieving these initiatives
(Ditkoff and Grindle, 2017) and a lack of funding for sus-
tainability goals (Varga and Hayday, 2016). Organisations in
the past have vigorously leveraged BDPA to improve trans-
parency and decision making which will improve internal
collaboration (Waller and Fawcett 2013; Hazen et al. 2014;
Schoenherr and Speier-Pero 2015; Wang et al. 2016; Flo-
rian and Stefan 2017). The plethora of literature focuses on
harnessing BDPA to improve environmental sustainabil-
ity (Sarker et al. 2020; Sajjad et al. 2020; Sivarajah et al.
2020; Belhadi et al. 2020) and social sustainability (Song
et al. 2017; Dubey et al. 2019) in manufacturing and supply
chains. Notwithstanding the existence of profound evidence
in the literature on the linkage between the digital revolu-
tion in the banking sector and the application of BDPA
(Hasan et al. 2020) yet the empirical evidence is missing
to date. Additionally, the ongoing research on the impact of
BDPA on environmental and social sustainability is in its
embryonic phase (Song et al. 2017). Essentially, the current
anecdotal and empirical research on the impact of BDPA
on environmental and social sustainability is largely frag-
mented, making it implausible to benchmark these studies
for the financial sector and draw a meaningful conclusion.
Hence, we inspire to investigate the social environmental,
and performance characteristics by addressing the research
question: How do big data and predictive analytics influence
social and environmental performance?
The research focusing on the underlying benefits of
BDPA is still in its infancy (Gupta and George 2016). The
ongoing research on big data largely concentrates on the
provision of infrastructure for data capturing, storing, net-
working, and system distribution across parallel computing
(Duan and Xiong 2015; Gupta and George 2016). The devel-
opment in system-based infrastructure demands firms that
incorporate critical resources complementary to technology
which should be hard to replicate known as BDPA capabili-
ties (McAfee et al., 2012). The top management needs to
prioritise data-driven decision making over their personal
experiences and beliefs (McAfee et al., 2012). The past stud-
ies argue that big data implementation initiatives rely on top
management support (LaValle et al., 2011) and technically
accurate management-related capabilities (Waller and Faw-
cett 2013). Consequently, this study embarks on exploring:
what are the required tools (technical, managerial) and big
data culture (organisational learning and data-based decision
making) to develop BDPA?
The inabilities of performance measurement in delin-
eating the actual situation are well documented despite
an established significance (Eckstein et  al. 2015). The
research acknowledges that the BDPA performance is con-
textual based (Akter et al. 2016; Gupta and George 2016;
Gunasekaran et al. 2017; Wamba et al. 2017); therefore, it is
essential to investigate the effective BDPA contextual condi-
tions. This approach is similar to Sousa & Voss (2008) who
suggested a method of examining the effectiveness-based
conditions instead of valuing the practices. The studies on
the factors influencing the adoption of information systems
in service firms and banks have concluded that the corpo-
rate culture is a crucial factor during innovation adoption
(Lyons et al. 2007; Cevahir et al. 2013; Mikalef et al. 2018;
Tang et al. 2020). Therefore, it is expected that organisations
under different conditions will respond differently during
the adoption of BDPA due to different organisational cul-
tures. The mediating role of organisational culture remains
unexplored in the studies that embark on investigating the
BDPA and environmental/social sustainability nexus. Here-
after, we envisage investigating: How does organisational
culture influence the nexus between BDPA and environmen-
tal/social sustainability?
The research questions in this study are answered by
investigating the 407 Islamic bank employees across Malay-
sia. IBs were specifically selected for the purpose of this
13

618
study due to the fact that IBs are viewed as environment-
friendly organisations as compared to other manufacturing
industries which heavily emit a large volume of danger-
ous waste products in the climate. Regardless of known as
environment-friendly entities, banks indirectly impact the
environment through their clients’ engagement and prone
to finance heavy carbon-emitting industries (Kunhibava
et al. 2018). Ironically, the banking industry in general and
the Islamic banking industry, in particular, have responded
slowly to sustainability concepts (Jan et al. 2018, 2019a) The
samples were collected from IBs in Malaysia as it holds the
third-highest Islamic banking assets1 in the world which will
exceptionally generalise the findings to many other coun-
tries. IBs in Malaysia are facing tremendous environmental,
social, and economic issues; hence, it is crucial for IBs to
identify the methods of sustainability compliance (Jan et al.
2019a, b).
The empirical findings in this study are theoretically cor-
roborated by integrating the theories of dynamic capabil-
ity view (DCV) (Teece et al. 1997) and contingency theory
(Donaldson, 2001). These theories collectively will help in
explaining the direct performance implications of BDPA
and the underlying conditions of optimal effectiveness. This
study is expected to make several theoretical, empirical, and
practical contributions. First, this study offers theoretically
tested empirical evidence as a guideline for the managers
contemplating BDPA to help organisations improve sustain-
ability performance. Second, it contributes to offer an empir-
ically tested measurement model to document evidence of
the impact of BDPA on the social and environmental sus-
tainability performance of IBs. The proposed measurement
model is validated through normality, reliability tests, and
its internal consistency that can help regulators in develop-
ing the matrices to diagnose the social and environmental
sustainability performance of IBs. Third, the results of this
contribute to offering practitioners guidelines to promote the
implementation of BDPA to enhance social, environmental
sustainability in the Islamic banking industry. Particularly,
the findings will assist IBs’ managers who constantly face
a trade-off between requirements for social and environ-
mental performance. The evidence provided in this study is
expected to offer BDPA as a significant predictor of social
and environmental-related initiatives in the Islamic banking
industry.
The remaining paper proceeds as follows: Sect. 2 dis-
seminates the theoretical framework of this study. Section 3
outlines the adopted methodology; Sect. 4 delineates the
results; and Sect. 5 discusses the findings and concludes
this research.
1
  See, Islamic Financial Services Industry Stability Report, 2020.
13
Environment Systems and Decisions (2021) 41:616–632
2 Background
The concept of sustainability was first introduced by the
Brundtland report which defined it as the procedures of eco-
nomic growth, environmental protection, and social equality
(Brundtland, 1987). The business lexicon defines it as the
methods used by companies to mitigate economic, environ-
mental, and social risks. Sustainability is characterised by
three dimensions namely, economic, environmental, and
social sustainability (Jan et al. 2019a). Economic sustain-
ability refers to the flow of money particularly, it deals with
income, expenses, taxes, employment, and business diver-
sification (Slaper and Hall, 2011). Economic sustainabil-
ity dimension demands effective management of different
types of capitals such as tangible and intangible (Abubakar,
2014). The environmental sustainability dimension meas-
ures natural resources and their potential impact on their
viability (Slaper and Hall, 2011). Environmental issues have
remained a major research agenda over the last 20 years, and
global corporates have shown a concomitant commitment to
address this issue. The integration of environmental sustain-
ability in the strategic planning of modern-day corporates
has become a key to survival in today’s highly competitive
environment. (Zeng et al. 2018). The social responsibility
dimension refers to society or region, which measures access
to education, equity, social resources, health and wellbeing,
quality of life, and social capital (Slaper and Hall, 2011).
Primarily, it focuses to improve and maintain an exceptional
quality of life without overexploiting the environment and
the resources (Hoffman and Bazerman, 2005). From organi-
sational perspective, socially driven organisations integrate
their business activities in a way that remains socially,
ethically acceptable, and environment friendly as well as
improves the quality of life of all the stakeholders. However,
the subject matter is unclear about how dynamic corpora-
tions can address these dimensions of sustainability by lev-
eraging available resources.
The financial industry has not fully tapped the mod-
ern concepts of business sustainability practices which
resulted in the failure of the global banking sector during
the 2007–2008 financial crises (Jeucken, 2002). The fail-
ure of banking sector to integrate the business sustainabil-
ity concept into its policies brought these issues into global
spotlight which led regulators and policymakers to identify
the key resources to integrate business sustainability (Yip
and Bocken, 2018). Specifically, it is consequential for the
rapidly emerging Islamic banking industry as the industry
is straggling in terms of social and environmental reporting
(Jan et al. 2019a). Several studies have confirmed that the
level of social and environmental performance is signifi-
cantly low as compared to the conventional counterparts due
to a lack of potential resources to integrate the concept of
Environment Systems and Decisions (2021) 41:616–632 619
business sustainability (Meutia and Febrianti, 2017; Noba-
nee and Ellili, 2016; Belal et al. 2015; Mallin et al. 2014).
The Malaysian Islamic banking industry was experiencing
similar issues of lack of resources to integrate social and
environmental sustainability as the environmental practices
and its disclosure levels were significantly low (Ahmed Haji
and Anum Mohd Ghazali, 2013; Farook et al. 2011; Hassan
and Syafri Harahap, 2010; Mohd. Yusof and Bahlous, 2013;
Yusoff and Darus, 2014). Against this background, we aim
to identify the potential sources which can help the Islamic
banking industry to integrate social and environmental sus-
tainability into its business operations.
3 Theoretical literature review
3.1 Big data and predictive analytics (BDPA)
BDPA is defined as ‘creating and establishing new tech-
nologies and architectures to economically unleash value
from a large volume of data by capturing high velocity, dis-
covery and/or analysis’ (Mikaleaf et al. 2018). BDPA has
started to attract the attention of policymakers as modern-
day organisations consider it a hallmark in organisational
decision making (McAfee, et al., 2012). Many firms have
accelerated their BDPA initiatives and started to harness
them as a tool to gain a competitive advantage. Practitioners
and scholars have characterised it as a frontier for innova-
tion, competition, and productivity (Manyika et al., 2011),
whereas others regarded it as a seminal revolution that will
transform the way we live work and think. Organisations
render numerous strategies to store, analyse, and visualise
a meaningful insight from data with large volume, velocity,
verity, veracity, and value (Gupta and George, 2016).
Organisations in private and public sectors leverage big
data and business analytics using different techniques (Pap-
pas et al. 2018). The role of big data within the business,
engineering, science, education, and social development
is well documented (Santoro et al. 2019). The ubiquitous
nature of data requires multiple analytical techniques to
extract meaningful information (Duan and Xiong 2015).
Data scientists’ capacity in the past was limited in terms of
their collection, storage, and processing. The recent digi-
tal transformations demand strong analytical capabilities to
generate and analyse fast and voluminous big data (Fosso
Wamba et al. 2015). Initially, Big data had 3Vs features; vol-
ume, velocity, and variety (Zhou et al. 2014; Duan and Xiong
2015); subsequently, Fosso Wamba et al. (2015) recoined
big data attributes as 5Vs: volume, velocity, verity, veracity,
and value. Although analysing big data through predictive
analytics offer distinct benefits (Fosso Wamba et al. 2015;
Duan and Xiong 2015; Akter et al. 2016; Amankwah-Amoah
2016; Dubey et al. 2016; Olga et al. 2017; Wang et al. 2018),
nonetheless, organisations need to increase investment in
key resources to compete in the digital economy (Carls-
son 2018). The underlying power of big data is associated
with predictive analytics that uses statistical techniques
for forecasting future events through the previous events’
assumptions. The widely used techniques in data science
are regression modelling, decision tree, Bayesian statistics,
neural network, Support Vector Machine (SVM), and near-
est neighbour algorithms (Oztekin 2018). The acquisition of
raw data from multiple sources goes through several steps of
cleaning, integration, and others to ensure that it is readily
available for predictive techniques.
3.2 Current landscape and influence of BDPA
in the financial industry
Big data technology is indispensable to the financial industry
as it is integral for future innovations (Hasan et al. 2020).
Financial innovation is widely debated due to its capabilities
and acceptance. Precisely, financial innovations help differ-
ent businesses in online peer-to-peer lending, provision of
crowdfunding platforms, financing SMEs, wealth and asset
management platforms, cryptocurrencies, remittance admin-
istration, trading management, and mobile payment plat-
forms. These services generate a huge amount of valuable
data on daily basis. Hence, handling and data management
in these services is crucial for their effectiveness. Financial
analysts these days use predictive analytics hinged on big
data to make investment decisions. Additionally, financial
industries leverage BDPA techniques to assess consumers’
spending patterns to design their business models which will
help in customising the services and products (Faisal 2018;
Hale and Lopez 2019). BDPA has also consolidated and
improved public understanding of financial markets (Shen
and Chen 2018). In short, the financial industry has excess to
trillions of pieces of data on daily basis for decision making
which will help in customising and enhancing the quality
and security of its services (James 2019). BDPA is helping
the financial industry in transparency creation, risk analy-
sis, algorithm trading, and transforming culture which will
improve consumers’ satisfaction and overall banking expe-
rience (Einav and Levin 2013; Diebold et al. 2019; Razin
2019).
3.3 Towards conceptualisation of BDPA capabilities
BDPA refers to extraordinary organisational capabilities
solely relying on multiple strategic resources (Wamba
et al. 2017). The past studies have analysed the impact of
resources and BDPA on organisational performance and
found that although studies have investigated the impact of
BDPA on organisational performance, there are certain limi-
tations in the conceptual frameworks of these studies (Akter
13

620
et al. 2016; Gupta and George 2016; Wamba et al. 2017;
Dubey et al. 2018, 2019). In the context of the financial
industry, empirical evidence about the impact of BDPA on
IBs’ social and environmental sustainability performance is
missing. This study advances Teece et al. (1997) theory to
bridge this knowledge gap and argues that BDPA is an inte-
gral organisational capability based on existing environmen-
tal conditions under which organisations (IBs) function. This
capability may permanently lead to achieving a competitive
advantage provided it is exploited effectively.
The combination of resources such as human, technical,
and managerial skills can create exceptional organisational
capabilities. Human-based resources refer to employees’
experience, knowledge, problem-solving skills, business
acuity, customer interaction, and handling skills, and lead-
ership characteristics (Gupta and George 2016; Hitt et al.
2016). Organisations may achieve sustained competitive
advantage through technical and managerial skills required
for efficient execution of BDPA capability, organisational
learning of data-driven decision making, and culture. Some
of these capabilities are discussed below.
3.3.1 Technical skills
This represents the familiarisation of the usage of new tech-
nology or algorithms and extracting useful information from
voluminous data. Technical skills include but are not limited
to the competency in machine learning, ability to extract,
clean, statistically analyse, and understand programming
techniques such as MapReduce (Gupta and George 2016).
3.3.2 Managerial skills
Managerial skills in contrast to technical skills are devel-
oped over the years after many years of formal employment
(Gupta and George 2016). Organisations often fail to grab
the low hanging fruits of BDPA when their managers lack
the skills to create value and obtain meaningful insights from
data. For example, a skilful manager is capable of accurately
predicting market behaviour by analysing data quality. The
cognitive skills of managers play a key role in the success
of BDPA usage.
3.3.3 Organisational learning
Organisations successfully achieve competitive advantage
by the continuity of exploring, storing, sharing, and apply-
ing knowledge (Grant 1991). Teece et al.’s (1997) theory of
dynamic capabilities concluded that continuous organisa-
tional learning can help in achieving cutting-edge advan-
tages. The significance of knowledge for organisational
competitive advantage was highlighted by Nonaka et al.
(2000), though knowledge’s perpetuity organisations need
13
Environment Systems and Decisions (2021) 41:616–632
to stay updated with new emerging technologies. Therefore,
the adoption of new technology is understood as a response
to the market demand. Indeed, prudent organisations indi-
cate a higher tendency to learn and remain in the market
for a longer period (Gupta and George 2016). Based on the
proceeding argument, we advance that continuous organisa-
tional learning may help in developing BDPA capabilities to
resolve environmental and social sustainability issues.
3.3.4 Organisational culture
Organisational culture represents collective norms, val-
ues, and beliefs that can be observed in its daily operation,
objectives, and it can help employees in understanding the
functioning of organisation (Khazanchi et al. 2007; Liu
et al. 2010). The past studies have discussed the impact of
organisational culture on the selection of strategic resources
in response to external demands (Deshpandé et al. 1993).
Organisational culture can be classified into relation- and
transaction-oriented culture and flexibility-control orienta-
tion culture (Liu et al. 2010). This study follows Liu et al.
(2010) argument and adopts flexibility-control orientation
(FO-CO) in the competing value model (CVM) suggested
by Quinn & Rohrbaugh (1983).
3.4 Empirical literature and hypotheses
development
This study adopted a dynamic capability view (DCV),
extended from resource-based view (RBV) (Hitt et al. 2016;
Dubey et al. 2019). The acquired competitive advantages
of firms in a dynamic business environment are explained
by DCV (Teece et al. 1997). DCV is recognised as organi-
sational capabilities of successfully integrating, building,
and reconfiguring internal and external competencies in
response to the dynamic business environment (Teece et al.
1997). The framework was initially proposed for analysing
the sources and techniques to create wealth for private firms
operating in rapidly fluctuating environments. (Teece et al.
1997). This theory argues that firms’ competitive advantage
relies on distinct processes (methods of coordination and
combination) shaped by the position of certain assets and
adopted or inherited paths. The theory further proposed that
firms’ competitive advantage may erode due to the stabil-
ity of market demand, processes replication, and imitability
(competitors’ ability to replicate). Overall, the theory identi-
fied that new opportunities and effective and efficient organi-
sation to embrace it are fundamental to profit maximisation
and strategy formulation (Teece et al. 1997). Based on DCV
conceptualisation, we predict that organisations adapt to
dynamic consumer and technological opportunities develop
unique capabilities. In the context of BDPA, DCV may lead
to achieving competitive advantage for the organisations
Environment Systems and Decisions (2021) 41:616–632 621
Fig. 1  Theoretical model
operating in a frequently changing environment and stuck
in transparency issues despite equipped with sufficient
strategic resources (Akter et al. 2016). Hence, DCV helps
understand the potential of BDPA in improving environ-
mental and social sustainability. Based on DCV, BDPA is
conceptualised as a main reflective construct. We predict
that strategic resources such as culture, technical skills (TS),
managerial skills (MS), organisational learning (OL), and
data-driven decision making (DDDM) develop BDPA capa-
bilities (Barney, 1991). Hence, there is a direct association
between BDPA, environmental performance (EP), and social
performance (SP) that will lead to improving overall sustain-
ability (OS) performance dimensions through BDPA. Addi-
tionally, we hypothesised the moderating impact of organi-
sational culture (FO and CO) on the nexus between BDPA
and environmental/social performance (Fig. 1).
3.5 Direct impact of BDPA on environmental
and social performance
A detailed overview of the literature reveals that the empiri-
cal linkage between BDPA, environmental, and social sus-
tainability is largely untapped. Big data are viewed as a new
strategic management trend and organisations increasingly
capture value from big data to improve their green engage-
ment (Calza et al. 2020). These days organisations focus on
environmental and social sustainability by integrating the
BDPA concept into their business processes (Beier et al.
2020). In fact, the state and trends of current environmental
and social conditions of organisations have paved the way
for BDPA applications (Runting et al. 2020). Often envi-
ronmental and social views are likely to impact its environ-
mentally friendly behaviour (Inkpen and Baily 2020; Raza
et al. 2021), as well as positively shape employees’ social
responsibility perception (Cheema et al. 2020). We predict
that these organisational behaviours can be improved by
developing BDPA capabilities. BDPA can provide a support
structure for organisations concerned with environmental
and social goals (Song et al. 2017). All these findings pro-
vide limited and nascent evidence of the BDPA’s capabilities
to influence environmental and social performance. Lately, a
few empirical studies have attempted to empirically examine
BDPA’s impact on environmental and social performance;
however, these studies were broadly conducted on manu-
facturing industries (Akter et al. 2016; Gupta and George
2016; Dubey et al. 2019). This study extends the theoretical
concepts of these studies in the financial sector settings by
proposing the following hypotheses;
H1. There is a positive relationship between BDPA and
perceived social performance.
H2. There is a positive relationship between BDPA and
perceived environmental performance.
3.6 Moderators’ impact
Organisational culture (OC) that impacts on organisational
strategies is widely discussed in the literature (Khazanchi
et al. 2007; Liu et al. 2010). Organisations with flexibility-
oriented and control-oriented cultures respond differently
to external events, creating a different response to environ-
mental and social requirements and expectations (Khazanchi
et al. 2007). From a managerial perspective, OC influences
their abilities in processing information, rationalising, and
exercise discretion in decision-making processes (Liu et al.
2010).
13

622
A cutting-edge attribute of DCV is its ability to predict
selecting and utilising unique, difficult to replicate, and irre-
placeable resources for the organisations to ensure variations
and higher profits (Barney 1991), while DCV, an extension
of RBV, does not incorporate resource properties and man-
datory resource markets for organisational heterogeneity
(Teece et al. 1997; Hitt et al. 2016). This study predicts that
flexibility-oriented organisations react differently as com-
pared to control-oriented organisations. It is relatively easier
for flexibility-oriented organisations to develop capacities
and take a risk to embrace environmental changes. There-
fore, we posit that flexibility orientation may reinforce the
direct impact of BDPA on environmental/social perfor-
mance. It is also posited that flexibility-oriented organisa-
tions may represent higher tendencies to cultivate versatile
practices to achieve differentiation from competitors; thus,
we examine this narrative through the following hypotheses:
H3. Flexibility-oriented (FO) organisations positively
mediate the nexus between BDPA and social/environmen-
tal performance.
H3a. Flexibility-oriented (FO) organisations positively
mediate the nexus between BDPA and perceived social
performance.
H3b. Flexibility-oriented (FO) organisations positively
mediate the nexus between BDPA and perceived environ-
mental performance.
Whereas control-oriented (CO) organisations emphasise
consistency, control, efficiency and strictly following pro-
tocols. Therefore, we predict that organisations concerned
with protocols, stability, and predictability may reduce the
influence of BDPA. Therefore, we hypothesise that
H4. Control-oriented (CO) organisations negatively
mediate the nexus between BDPA and environmental/social
performance.
H4a. Control-oriented (CO) organisations negatively
mediate the nexus between BDPA and perceived social
performance.
H4b. Control-oriented (FO) organisations negatively
mediate the nexus between BDPA and perceived environ-
mental performance.
4 Research design
The overall approach adopted in this study was quantitative
descriptive through a self-administrated survey question-
naire (Hair et al. 2014). The data were collected through a
survey questionnaire to test the hypotheses. The question-
naire was prepared in consultation with 3 academic profes-
sors and 3 industry experts employed as senior managers in
different IBs in Malaysia. The content of the questionnaire
was modified and further simplified based on their feedback
which helped to reduce the length and optimise the clarity of
13
Environment Systems and Decisions (2021) 41:616–632
the questionnaire. After pretesting the questionnaire, it was
ready for circulation among the sampled population to col-
lect primary data. We sampled 20 Islamic banks in Malaysia
(Kula Lumpur and Selangor states) and targeted executives
and senior managers employed at key positions. The most
important phase in data collection was designing a compre-
hensive psychometric survey instrument.
4.1 Questionnaire content
The questionnaire comprised two sections: A and B. Sec-
tion A contained demographic information such as gender,
age, educational level, position, and duration of employ-
ment. Section B contained 37 items of 8 constructs used
in this study. These items represented the measurement of
the constructs which were developed after reviewing the
related literature. Table 1 details the operationalisation of
used constructs.
4.2 Data collection
This research used a convenience non-probability sampling
technique to draw data from 407 participants of executives
and senior managers from different IBs. Initially, 573 sam-
ples were distributed using social networking platforms
(LinkedIn, Instagram, Facebook, and WhatsApp) and e-mail.
The questionnaire was circulated through a snowball sam-
pling technique. The data collection using social networking
platforms was a reliable and appropriate method during the
pandemic as it was effective and achieved randomness and
diversity of the respondents (Lee and Spratling 2019). The
data collection period ranged from 15 October 2020 to 15
November 2020.
4.3 Questionnaire administration
The participants returned 417 completed surveys from ini-
tially distributed samples of 573 which show the return
rate of 71.02%. However, 10 samples were excluded and
407 samples were considered during the final data analyses
as excluded samples were incomplete. It was important to
evaluate the non-response bias to compare the responding
and non-responding differences. We followed Armstrong &
Overton (1977) criteria to analyse this difference through t
tests and found no significant difference (p > 0.05) between
the responding and non-responding participants. The demo-
graphics of the respondents are presented in Table 3.
4.4 Data analysis
The collected data were analysed using WarPLS 5.0 version
for hypotheses testing and answering the research questions.
We use the Partial Least Squares (PLS) estimation technique
Environment Systems and Decisions (2021) 41:616–632 623
Table 1  Operationalising the constructs
Constructs
Technical skills (TS)
Managerial skills (MS)
Data-driven decision-making
culture (DDDM)
Organisational learning (OL)
Flexibility orientation (FO)
Control orientation (CO)
Social performance (SP)
Environmental performance (EP) (Yakovleva et al., 2012) EP1) Our bank’s activities reduce carbon from the air
The variables used for the estimation of measurement model are tabulated in Table 2 which also indicates its category and expected impact on
the model
Source Description
(Gupta and George, 2016) TS1) Our bank provides formal big data analytics (BDA) training to employees
TS2) Our bank hires employees with prior BDA skills
TS3) Our employees have the right BDA skills to successfully achieve their tasks
TS4) Our big data-skilled employees have relevant formal knowledge to do their
tasks
TS5) Our BDA-skilled employees have sufficient work experience to successfully
achieve their tasks
TS6) Our BDA-skilled employees have adequate training
(Gupta and George, 2016) MS1) Our BDA managers understand and value other employees’ needs
MS2) Our BDA managers effectively coordinate with other managers in the bank
MS3) Our BDA managers’ mutual coordination supports big data-related activi-
ties in the bank
MS4) Our BDA managers can predict future challenges
MS5) Our BDA managers fully understand the relative use of big data
MS6) Our BDA managers effectively interpret analyses obtained from complex
analyses and always forward their feedback for decision making
(Gupta and George, 2016) DDDM1) We consider data as a valuable asset
DDDM2) We prioritise data over instincts in decision making
DDDM3) We are willing to suppress perceptions if data contradict with personal
perspectives
DDDM4) We always use data in analysing strategies and taking corrective
actions
DDDM5) We provide formal training to our employees to use data in decision
making
(Gupta and George, 2016) OL1) Our bank has an ability to find new and relevant knowledge
OL2) Our bank has a capacity to acquire new and relevant knowledge
OL3) Our bank successfully assimilates relevant knowledge
OL4) Our bank ensures the implication of new knowledge
(Liu et al. 2010) FO1) The traditions, values, and loyalty are valued in our bank
FO2) Our employees are not afraid of taking a risk and facing criticism
FO3) Our employees show higher commitment towards innovation and develop-
ment
FO4) Our bank focuses on growth through innovative ideas
(Liu et al. 2010) CO1) Our bank follows formal rules and policies
CO2) Our bank appreciates the prevalence of stability
CO3) Our bank prefers growth output
CO4) Our bank stresses goal achievement
(Yakovleva et al. 2012) SP1) Our bank practices total employment
SP2) Our bank implements employee per enterprise
SP3) Our bank follows market standards of gross wage per employee
SP4) Our bank provides equal full-time employment opportunities for all genders
EP2) Our bank’s activities minimise water waste
EP3) Our bank minimises the consumption of harmful material
EP4) Our bank improves the environmental situation as an organisation
13

624 Environment Systems and Decisions (2021) 41:616–632

Table 2  Variables description and expected impact in estimation foundations to anticipate this association which limits us to
model develop our theoretical and statistical foundation from stud-
Variables Category Expected impact Source ies conducted in other industries (see Dubey et al., 2019).
This also provides further justification to adopt PLS as a
BDPA Independent ( +) (Gupta and George,
suitable technique in this study. Past studies (Peng and Lai
2016)
2012; Henseler et al. 2014; Moshtari 2016) have rigorously
OS Independent ( +) (Gupta and George,
2016) used PLS-based modelling techniques to examine a complex
SP Dependent ( +) (Yakovleva et al. 2012) structural equation model as suggested in our study. The PLS
EP Dependent ( +) (Yakovleva et al. 2012) model was evaluated in two phases: investigating the valid-
FO Moderator ( +) (Liu et al. 2010) ity and reliability of the estimation model, and analysing
CO Moderator (−) (Liu et al. 2010) the structural model (Peng and Lai 2012; Moshtari 2016).
Size Control Neutral Annual financial reports

5 Empirical results and discussion

Table 3  Demographics of the respondents
Demographics N %
5.1 Model measurement
Gender
Male 173 42.50
The model measurement reliability was confirmed by esti-
Female 223 54.79
mating the scale composite reliability (SCR), Cronbach’s
Others 11 2.70
alpha coefficients, and average variance extracted (AVE).
Age 134 32.92
The initial results (Table 4) show that the Cronbach alpha
Between 21 to 28 103 25.30 coefficient and SCR were greater than the 0.70 criteria. Sim-
Between 29 to 37 97 23.83 ilarly, AVE for each construct was greater than 0.5 except
Between 38 to 45 73 17.93 for BDPA which was less than 0.42. This indicates the reli-
Above 45
ability of the measurement model as the latent constructs
Education Level 263 64.61
Bachelor 137 33.66
represent at least 50% of the variance in the items.
Master 7 1.71
Doctorate 5.2 Common method bias (CMB)
Position 73 17.93
Financial Analyst 53 13.02 Survey-based studies are required to address CMB; how-
Personal financial advisor 136 33.41
Business Analyst 115 28.25
ever, it is impossible to avoid CMB issues unless mul-
Relationship Manager 30 7.37 tiple information and criteria are used for observed units
Branch Manager (Ketokivi and Schroeder 2004). CMB directly results due
Employment duration 88 21.62 to different sources related to consistency and the desire
Between 1 to 3 years 160 39.31 to motives (Podsakoff et al. 2003). In this study, the self-
Between 4 to 7 years 112 27.51
Between 8 to 10 years 47 11.54
reported data can result in CMB which is handled using
Above 10 years Guide Jr. & Ketokivi’s (2015) criteria. First, respondents
were requested to use banks’ minutes of meetings or for-
mal policy documents to answer the questionnaire instead
as it covers higher general model attributes in contrast to of their perceptions and beliefs. Second, the seriousness of
covariance-based Structural Equation Modelling (SEM) CMB was estimated using a statistical test (Harman’s single
which contains risks of being affected by model misspeci- factor). The results in Table 7 represent that CMB is unlikely
fication in a substantial part of the model (Henseler et al. to affect our results as the maximum covariance explained
2014). Therefore, PLS is a highly reliable tool in the con- by the single factor is 35.65%.
text of our exploratory study. The nature of this research is
exploratory since the research under investigation is at the 5.3 Endogeneity test
embryonic phase (Gupta and George 2016). This research
focuses to assess the power of explanatory and prediction The endogeneity of exogenous variables was estimated
variable (BDPA). Hence, the PLS technique allows to accu- before testing the hypotheses of this study. Based on the
rately predict and assess the estimation of exogenous vari- literature review discussed in this study, BDPA is concep-
ables (Peng and Lai 2012). The proposed nexus of BDPA tualised as an exogenous variable to EP and SP, not vice
and social/environmental performance of IBs is unex- versa; therefore, endogeneity is less likely to incur in this
plored; therefore, literature does not contain any theoretical setting. We performed the Durbin–Wu–Hausman test to

13
Environment Systems and Decisions (2021) 41:616–632 625

Table 4  Initial SCR and AVE Constructs Measurements Factor loading Variance Error SCR AVE Cron-
loadings of indicator variables bach’s
alpha

BDPA TS1 0.17 0.23 0.87 0.92 0.39 0.86

TS2 0.58 0.61 0.45
TS3 0.47 0.42 0.75
TS4 0.08 0.24 0.84
TS5 0.67 0.46 0.74
TS6 0.60 0.53 0.47
MS1 0.52 0.44 0.58
MS2 0.56 0.67 0.68
MS3 0.47 0.42 0.73
MS4 0.33 0.32 0.73
MS5 0.80 0.61 0.33
MS6 0.78 0.34 0.40
DDDM1 0.45 0.57 0.62
DDDM2 0.34 0.43 0.73
DDDM3 0.73 0.58 0.44
DDDM4 0.75 0.73 0.30
DDDM5 0.83 0.64 0.38
OL1 0.67 0.83 0.41
OL2 0.74 0.68 0.37
OL3 0.80 0.73 0.28
OL4 0.77 0.56 0.32
FO FO1 0.86 0.86 0.25 0.78 0.93 0.83
FO2 0.89 0.90 0.12
FO3 0.88 0.93 0.09
FO4 0.82 0.84 0.17
CO CO1 0.75 0.85 0.23 0.75 0.84 0.88
CO2 0.67 0.77 0.37
CO3 0.78 0.76 0.26
CO4 0.81 0.70 0.07
SP SP1 0.75 0.79 0.25 0.83 0.78 0.80
SP2 0.73 0.76 0.39
SP3 0.78 0.98 0.06
SP4 0.92 0.75 0.05
EP EP1 0.88 0.68 0.10 0.79 0.82 0.91
EP2 0.85 0.63 0.32
EP3 0.92 0.85 0.17
EP4 0.79 0.90 0.03

We dropped the weak items in the model (factor loading < 0.4) and reperformed SEM analysis. The results
indicated (Table 5) a significant improvement in the AVE of the BDPA variable as the factor loadings sat-
isfy acceptable criteria (Hair et al. 2014)

confirm whether endogeneity exists in our exogenous vari- 5.4 Hypothesis testing

ables (Zinde-Walsh 1995). First, we used regression between
BDPA and moderation variables (SP and EP) and control
variables, and then the residual of this regression was used
as an additional regression to test the hypotheses. The resid-
uals estimates are insignificant confirming that BDPA is not
an endogenous variable which is consistent with the initial
conceptualisation in this research.
The traditional parametric-based methods to test significance
are inappropriate due to the limitations of PLS in assum-
ing the normal distribution of multivariate (Henseler et al.
2014). The standard errors and the significance parameter
estimate in PLS can be computed using the bootstrapping
procedure (Chin 1988; Peng and Lai 2012; Moshtari 2016).

13

626 Environment Systems and Decisions (2021) 41:616–632

Table 5  CSR and AVE loadings Constructs Measurements Factor loading Variance Error SCR AVE
of indicator variables
BDPA TS2 0.72 0.64 0.24 0.89 0.61
TS5 0.67 0.69 0.17
TS6 0.75 0.83 0.12
MS1 0.64 0.66 0.32
MS2 0.72 0.79 0.26
MS5 0.74 0.83 0.19
MS6 0.71 0.88 0.02
DDDM3 0.64 0.81 0.08
DDDM4 0.76 0.80 0.04
DDDM5 0.85 0.78 0.40
OL1 0.67 0.83 0.41
OL2 0.74 0.68 0.37
OL3 0.80 0.73 0.28
OL4 0.77 0.56 0.32
FO FO1 0.86 0.86 0.25 0.94 0.82
FO2 0.89 0.90 0.12
FO3 0.88 0.93 0.09
FO4 0.82 0.84 0.17
CO CO1 0.75 0.85 0.23 0.85 0.85
CO2 0.67 0.77 0.37
CO3 0.78 0.76 0.26
CO4 0.81 0.70 0.07
SP SP1 0.75 0.79 0.25 0.83 0.74
SP2 0.73 0.76 0.39
SP3 0.78 0.98 0.06
SP4 0.92 0.75 0.05
EP EP1 0.88 0.68 0.10 0.87 0.80
EP2 0.85 0.63 0.32
EP3 0.92 0.85 0.17
EP4 0.79 0.90 0.03

The results of the inter-construct correlation are represented in Table  5. The leading diagonal entries in
Table 6 represent that AVE square root values are higher than the inter-construct correlations which con-
firm sufficient discriminant validity

Table 6  Results of correlation BDPA FO CO EP SP OS

among the constructs
BDPA 0.74
FO 0.04 0.94
CO −0.06 −0.08 0.91
EP 0.34 0.28 0.40 0.90
SP 0.37 0.31 0.37 0.29 0.89
OS −0.08 −0.04 −0.13 −0.17 −0.05 1.00

We used WarpPLS 5.0 to obtain the PLS analysis presented
in Fig. 2.
We found that ­R2 = 0.729 which confirms a significant
amount of variance in the environmental/social perfor-
mance of IBs is explained by our model. We confirm that
H1 (BDPA → SP) is supported as β = 0.735 and p < 0.001.
This finding is consistent with Keeso’s (2014), Song et al.
(2017) studies which conclude that BDPA has a significant
potential to positively transform the social performance
of an organisation. Similarly, H2 (BDPA → EP) was also
accepted as β = 0.784 and p < 0.001. This result confirms
the narrative that BDPA potentially improves environmen-
tal performance (Song et al. 2017; Dubey et al. 2019).

13
Environment Systems and Decisions (2021) 41:616–632 627

Table 7  Harman’s single factor Components Initial eigenvalues Extraction sums of squared loadings
test results
Total Variance % Cumulative % Total Variance % Cumulative %

1 10.574 35.652 35.653 10.574 35.652 35.652

2 2.421 5.345 67.601
3 4.083 6.251 67.689
4 3.367 7.081 69.640
5 2.397 5.634 69.732
6 3.458 6.734 68.583
7 2.486 5.374 68.707
8 2.352 5.184 70.540
9 1.194 3.504 70.604
10 0.890 1.248 80.758
11 0.840 1.149 78.739
12 0.758 2.326 80.847
13 0.848 2.587 80.843
14 0.481 1.832 75.640
15 0.934 2.597 82.648
16 0.947 1.749 78.943
17 0.952 3.840 84.630
18 0.935 4.700 71.735
19 0.836 1.385 73.470
20 0.745 4.749 80.784
21 0.782 3.706 82.718
22 0.758 2.493 60.745
23 0.798 8.884 87.841
24 0.843 4.450 78.825
25 0.731 3.693 77.842
26 0.648 2.882 80.746
27 0.639 2.848 79.831
28 0.683 3.778 75.793
29 0.640 2.793 78.862
30 0.623 2.840 75.744
31 0.658 1.750 79.746
32 0.667 2.738 78.883
33 0.769 4.748 89.640
34 0.693 3.842 89.783
35 0.530 1.873 90.801
36 0.535 2.927 90.921
37 0.526 3.754 89.874

We also tested the null hypotheses and found that H3a
(FO* BDPA → SP) (β = -0.054; p > 0.001) and H4b (CO*
BDPA → EP) (β = 0.052; p > 0.001) were not accepted. The
hypothesis H4a (CO* BDPA → SP) (β = 0.046; p > 0.001)
was also not supported. The organisational size (OS), the
size of the Islamic bank, was used as a control variable had
no significant relation to EP and SP. We used 500 boot-
strapping runs to estimate path coefficients and p values to
summarise PLS results. The standardised beta coefficients
of ordinary least squares (OLS) represent the estimates of
estimated path coefficients. PLS path coefficients and their
p values are presented in Table 8.
The model’s explanatory power is further examined by
analysing the endogenous constructs’ explained variance
­(R2). This technique maximises the variance explained in the
endogenous variables, and it is consistent with the objectives
of PLS. The values of R2 for SP and EP are 0.674 and 0.784
which are moderately strong (Chin, 1988). The effect size
of individual predictor is estimated through the Cohen (f)
formula which represents the increase in R­ 2 in relation to the

13

628 Environment Systems and Decisions (2021) 41:616–632

Fig. 2  PLS test results

Table 8  Structural estimates between BDPA and SP/EP which confirms that BDPA is a
Hypotheses Effect β p Result
potential capability that Islamic banks need to develop to
improve their social and environmental performance. This
H1 BDPA→SP 0.735  < 0.001 Accepted result is parallel to the findings of past studies such as DCV
H2 BDPA →EP 0.843  < 0.001 Accepted (Teece et al. 1997). It also complements the earlier research
H3a FO* BDPA→ SP 0.054  > 0.001 Not accepted on BDPA as dynamic capability directly influencing SP and
H3b FO* BDPA →EP 0.052  > 0.001 Not accepted EP (Keeso 2014; Song et al. 2017; Dubey et al. 2019).
H4a CO* BDPA →SP 0.046  > 0. 001 Not accepted The results of organisational culture’s (FO and CO)
H4b CO* BDPA→ EP 0.088  > 0. 001 Not accepted impact on the nexus between SP/EP were unexpected. The
moderators of FO and CO were found to have an insignifi-
cant impact on BDPA and SP/EP nexus which is consistent
Table 9  Summary of ­R2, effect size, and model’s prediction capabil- with Dubey et al.’s (2019) findings, whereas it contradicts
ity Liu et al. (2010) study. Despite an established narrative
Constructs R2 f2 Q2 that organisational culture plays a crucial role in organisa-
tional social and environmental performance, the results of
SP 0.735 0.735 0.748 interaction between FO/CO, BDPA and SP/EP contradicted
EP 0.843 0.875 0.877 these claims. However, our study predicts that the role of
organisational culture and its impact on the linkage between
BDPA and SP/EP need to be further investigated by future
variance proportion unexplained in the endogenous latent researches on IBs. Handful studies describe the effect of OC
variable. We follow Cohen (2013) that technique of ­f2 values during innovation adoption (Khazanchi et al. 2007; Liu et al.
of 0.35, 0.15, and 0.02 which represent large, medium, and 2010) which leads us to suggest that immediate motivation
small effect size and conclude that the BDPA effect on SP to adopt BDPA in IBs could be cost driven instead of social
is 0.735, and the BDPA effect of EP is 0.843 are considered and environmental motives.
large. Moving on to the model’s capability to predict, we The empirical findings have highlighted the significance
use Stone-Geisser’s ­Q2 estimates and found that ­Q2 for SP of BDPA as an organisational capability to foster social and
and EP were 0.748 and 0.877. These values are greater than environmental performance in the Islamic banking industry.
zero representing satisfactory predictive relevance (Peng and The past studies categorised BDPA as a formative construct
Lai 2012; Moshtari 2016). The summary of these results is (Gupta and George, 2016; Akter et al. 2016), whereas the
presented in Table 9. operationalised BDPA in this study offers a reflective latent
The findings represent the significance of BDPA in construct for eliminating complexities to estimate formative
enhancing the social and environmental performance of construct (Henseler et al. 2014). In addition, the findings
Islamic banks in Malaysia. The results show positive nexus reflect that BDPA has a positive linkage with SP/EP (H1

13
Environment Systems and Decisions (2021) 41:616–632 629
and H2). Collectively, the findings reinforce that BDPA is a
key organisational capability to influx improvements in SP/
EP. These findings are consistent with DCV (Teece et al.
1997) which argues that BDPA directly affects SP and EP.
Therefore, our findings extend the previous claims of the
scholars that BDPA has a substantial potential to increase
SP/EP (Keeso, 2014; Song et al. 2017; Dubey et al. 2019).
This leads us to associate these findings with the motiva-
tion of this study that IBs may use BDPA to respond to
growing ESG demands on business operations to safeguard
the interest of its stakeholders, shareholders, customers, as
well as align its business operations according to Islamic
principles (Shariah) (Abu Tapanjeh, 2009; Elghuweel et al.
2017; Elamer et  al. 2020; Lewis, 2001). Further, these
results indicate that BDPA is indispensable to the financial
industry (Hasan et al. 2020) and, particularly, the Islamic
banking industry may use it as a key capability to enhance its
acceptance which will help in expanding the Islamic banking
business. Lastly, from a theoretical lens, the results indicate
that IBs operating in rapidly fluctuating environments may
recognise BDPA as an exceptional organisational capabil-
ity to integrate, build, and reconfigure internal and external
competencies which will enhance its eroding market stability
and lift Islamic banking brand image. (Teece et al. 1997).
6 Summary and conclusions
This study investigates the social and environmental perfor-
mance of Islamic banks by conceptualising BDPA as an organ-
isational capability under the moderators of organisational cul-
ture using RBV. The findings reveal that BDPA significantly
predicts social and environmental performance, while organi-
sational cultures (FO and CO) show an insignificant effect on
the nexus between BDPA and SP/EP. The findings conclude
that the effect of flexibility and control orientation cultures
on BDPA and social and environmental performance remain
an interesting topic that needs further investigation in Islamic
banking industry. This research is a valuable addition to the
literature on BDPA and environmental and social performance
especially; in the context of the Islamic banking industry, this
study will help future researchers to use it for developing the
theoretical basis to investigate BDPA impact on social and
environmental sustainability. Lastly, this research provides dif-
ferent research directions based on the highlighted limitations
which will assist in answering the questions related to the influ-
ence of BDPA on differently practised cultures (i.e. flexibility,
control) in the banks.
6.1 Theoretical contribution
BDPA is well established in the financial industry (Hale and
Lopez, 2019; Hassan et al., 2020), and the findings of this study
suggest that integrating DCV and OC can become a significant
paradigm of research in environmental, social, and governance
(ESG) for Islamic banks. First, it contributes to summarising
the IBs choice to adopt BDPA as the literature lacks studies
on the implication of DCV in the context of Islamic finan-
cial industry. Second, this study contributes to encouraging
researchers to consider DCV to analyse different issues (social,
environmental, technological) in the Islamic financial industry.
At last, from a theoretical perspective, the findings in this study
contribute to examining the impact of strategic resources on
developing BDPA as an organisational capability.
6.2 Practical implications
The results in this research provide guidelines to the policy-
makers concerned BDPA usage to promote social/environ-
mental sustainability in Islamic banks. This study suggests
that regardless of organisational culture (flexible or control),
IBs can be equally successful. Therefore, practitioners need to
consider OC as a moderator while designing strategies related
to innovation adoption in Islamic financial institutions. From
a managerial perspective, this research will assist in overcom-
ing the dilemmas related to when and how to use BDPA to
enhance sustainability in the Islamic finance industry. The
empirical findings of this study highlight that financial insti-
tutions that have invested in acquiring the right talent and
promote knowledge-sharing culture are likely to enjoy more
success in developing BDPA capabilities which will help in
overcoming the information asymmetry in the financial indus-
try. At last, we suggest that managers adopt data-driven deci-
sion making which will bolster coordination between different
departments that will ultimately boost IBs sustainability.
6.3 Limitations and future research
There are certain limitations associated with this study. First,
the data collection was limited to one point; however, lon-
gitudinal research may help to understand the relationship
between exogenous variables (Guide and Ketokivi, 2015).
Future studies may focus on data collection from multi-
ple points as it will assist in examining the effect of OC in
implementing BDPA and the reduction of common method
bias. Second, the sampled population outlines the managers’
and executives’ perception instead of social and environmen-
tal performance. Future studies may use objective datasets
for predicting the influence of BDPA on SP/EP. Third, the
theoretical basis of this study was based on DCV to test
BDPA adoption, whereas critics on DCV suggest that DCV
is cost-driven focusing on the characteristics of resources
and strategic factors which limit its ability to measure
social and environmental performance. Despite incorporat-
ing moderators (OC) to address this limitation, we suggest
that institutional pressure renders a better explanation of
13

630
organisational motives to adopt BDPA. Therefore, future
studies may consider the institutional theory to examine
BDPA adoption.
Author contributions  Conceptualization: QA.; formal analysis: QA,
SP, and ZZ.; Investigation: QA. and HY; methodology: SP., ZZ., and
HY.; supervision: HY. and ZZ; writing original draft: QA and HY;
writing review and editing: QA and HY.
Funding  This research has received no specific funding.
Declarations  responsibility perceptions and organizational citizenship behav-
Conflict of interest  The authors declare no conflict of interest.
References
Abubakar T 2014 A Study of Sustainability in the Oil and Gas Sup-
ply Chain. Doctoral dissertation. University of Central Lanca-
shire, Preston, England.
Abu-Tapanjeh AM (2009) Corporate governance from the Islamic
perspective: a comparative analysis with OECD principles. Crit
Perspect Account 20:556–567
Ahmed TJ (2019) An integrated approach for building sustainable
Islamic social finance ecosystems. ISRA Int J Islam Financ
11:246–266. https://​doi.​org/​10.​1108/​IJIF-​10-​2018-​0118
Ahmed Haji A, Anum Mohd Ghazali N (2013) The quality and deter-
minants of voluntary disclosures in annual reports of Shari’ah
compliant companies in Malaysia. Humanomics 29:24–42
Akter S, Wamba SF, Gunasekaran A et al (2016) How to improve
firm performance using big data analytics capability and busi-
ness strategy alignment? Int J Prod Econ 182:113–131. https://​
doi.​org/​10.​1016/j.​ijpe.​2016.​08.​018
Al-Mubarak T, Goud B (2018) Responsible Finance Environmen-
tal Impact in Islamic Finance. https://​www.​rfi-​found​ation.​org/​
envir​o nmen​t al-​i mpact-​i n-​i slam​i c-​fi nan​c e. Accessed 13 Jan
2021
Amankwah-Amoah J (2016) Emerging economies, emerging chal-
lenges: Mobilising and capturing value from big data. Technol
Forecast Soc Change 110:167–174. https://​doi.​org/​10.​1016/j.​
techf​ore.​2015.​10.​022
Annachiara L, Raffaella C (2015) Environmental and social sustain-
ability priorities: their integration in operations strategies.
Int J Oper Prod Manag 35:216–245. https://​doi.​org/​10.​1108/​
IJOPM-​04-​2013-​0182
Armstrong JS, Overton TS (1977) Estimating nonresponse bias in mail
surveys. J Mark Res 14:396–402. https://​doi.​org/​10.​1177/​00222​
43777​01400​320
Barney J (1991) Firm resources and sustained competitive advantage.
J Manage 17:99–120. https://d​ oi.o​ rg/1​ 0.1​ 177/0​ 14920​ 63910​ 1700​
108
Beier G, Kiefer J, Knopf J (2020) Potentials of big data for corporate
environmental management: a case study from the German auto-
motive industry. J Ind Ecol. https://​doi.​org/​10.​1111/​jiec.​13062
Belal AR, Abdelsalam O, Nizamee SS (2015) Ethical reporting in
islami bank Bangladesh limited. J Bus Ethics 129:769–784
Belhadi A, Kamble SS, Zkik K et al (2020) The integrated effect of
big data analytics, lean six sigma and green manufacturing on
the environmental performance of manufacturing companies: the
case of North Africa. J Clean Prod 252:119903. https://​doi.​org/​
10.​1016/j.​jclep​ro.​2019.​119903
13
Environment Systems and Decisions (2021) 41:616–632
Brundtland G (1987) Report of the World Commission on Environment
and Development Our Common Future. Oxford University Press,
United Nation
Calza F, Parmentola A, Tutore I (2020) Big data and natural environ-
ment How does different data support different green strategies?
Sustain Futur. https://​doi.​org/​10.​1016/j.​sftr.​2020.​100029
Carlsson C (2018) Decision analytics—Key to digitalisation. Inf Sci
(Ny). https://​doi.​org/​10.​1016/j.​ins.​2017.​08.​087
Cevahir U, Rachna K, Halil SK, Gözde E (2013) Role of innovation
in the relationship between organizational culture and firm per-
formance: a study of the banking sector in Turkey. Eur J Innov
Manag 16:92–117. https://d​ oi.o​ rg/1​ 0.1​ 108/1​ 46010​ 61311​ 29287​ 8
Cheema S, Afsar B, Javed F (2020) Employees’ corporate social
iors for the environment: The mediating roles of organizational
identification and environmental orientation fit. Corp Soc
Responsib Environ Manag 27:9–21. https://​doi.​org/​10.​1002/​csr.​
1769
Chin WW 1988 The Partial Least Squares Approach to Structural
Equation Modeling The Proactive Technology Project Recov-
ery Function: A Methodological Analysis View project Research
Methods View project. In: Marcoulides AG (ed) Modern Meth-
ods for Business Research pp 295–336
Cohen J (2013) Statistical Power Analysis for the Behavioral Sciences.
Routledge
Deshpandé R, Farley JU, Webster FE (1993) Corporate culture, cus-
tomer orientation, and innovativeness in Japanese firms: a quad-
rad analysis. J Mark 57:23–37. https://​doi.​org/​10.​1177/​00222​
42993​05700​102
Diebold FX, Ghysels E, Mykland P, Zhang L (2019) Big data in
dynamic predictive econometric modeling. J Econom 212:1–3.
https://​doi.​org/​10.​1016/j.​jecon​om.​2019.​04.​017
Duan L, Xiong Y (2015) Big data analytics and business analytics.
J Manag Anal 2:1–21. https://​doi.​org/​10.​1080/​23270​012.​2015.​
10208​91
Dubey R, Gunasekaran A, Childe SJ et al (2016) The impact of big
data on world-class sustainable manufacturing. Int J Adv Manuf
Technol 84:631–645. https://d​ oi.o​ rg/1​ 0.1​ 007/s​ 00170-0​ 15-7​ 674-1
Dubey R, Luo Z, Gunasekaran A et al (2018) Big data and predictive
analytics in humanitarian supply chains: enabling visibility and
coordination in the presence of swift trust. Int J Logist Manag
29:485–512. https://​doi.​org/​10.​1108/​IJLM-​02-​2017-​0039
Dubey R, Gunasekaran A, Childe SJ et al (2019) Can big data and
predictive analytics improve social and environmental sustain-
ability? Technol Forecast Soc Change 144:534–545. https://​doi.​
org/​10.​1016/j.​techf​ore.​2017.​06.​020
Eckstein D, Goellner M, Blome C, Henke M (2015) The performance
impact of supply chain agility and supply chain adaptability: the
moderating effect of product complexity. Int J Prod Res 53:3028–
3046. https://​doi.​org/​10.​1080/​00207​543.​2014.​970707
Einav L, Levin J (2013) The Data Revolution and Economic Analysis.
National Bureau of Economic Research, Inc
Elamer AA, Ntim CG, Abdou HA (2020) Islamic governance, national
governance, and bank risk management and disclosure in MENA
countries. Bus & Soci 59:914–955
Elghuweel MI, Ntim CG, Opong KK et al (2017) Corporate govern-
ance, Islamic governance and earnings management in Oman:
new empirical insights from behavioural theoretical perspective.
J Account Emerg Econ 7:190–224
Faisal K (2018) Big Data in Financial Services. https://​medium.​com/​
techn​icity/​big-​data-​in-​finan​cial-​servi​ces-​d62fd​130d1​f6
Farook S, Kabir Hassan M, Lanis R (2011) Determinants of corporate
social responsibility disclosure: the case of Islamic banks. J Islam
Account Bus Res 2:114–141
Florian K, Stefan S (2017) Challenges and opportunities of digital
information at the intersection of big data analytics and supply
Environment Systems and Decisions (2021) 41:616–632 631
chain management. Int J Oper Prod Manag 37:10–36. https://​
doi.​org/​10.​1108/​IJOPM-​02-​2015-​0078
Fosso Wamba S, Akter S, Edwards A et al (2015) How ‘big data’
can make big impact: findings from a systematic review and a
longitudinal case study. Int J Prod Econ 165:234–246. https://​
doi.​org/​10.​1016/j.​ijpe.​2014.​12.​031
Grant RM (1991) The resource-based theory of competitive advan-
tage: implications for strategy formulation. Calif Manage Rev
33:114–135. https://​doi.​org/​10.​2307/​41166​664
Guide VDR Jr, Ketokivi M (2015) Notes from the Editors: Rede-
fining some methodological criteria for the journal⋆. J Oper
Manag. https://​doi.​org/​10.​1016/​S0272-​6963(15)​00056-X
Gunasekaran A, Papadopoulos T, Dubey R et al (2017) Big data
and predictive analytics for supply chain and organizational
performance. J Bus Res 70:308–317. https://​doi.​org/​10.​1016/j.​
jbusr​es.​2016.​08.​004
Gupta M, George JF (2016) Toward the development of a big data
analytics capability. Inf Manag 53:1049–1064. https://​doi.​org/​
10.​1016/j.​im.​2016.​07.​004
Hair JF, Black WC, Babin BJ, Anderson RE (2014) Multivariate
data analysis
Hale G, Lopez JA (2019) Monitoring banking system connected-
ness with big data. J Econom 212:203–220. https://​doi.​org/​10.​
1016/j.​jecon​om.​2019.​04.​027
Haqeem AAG (2019) An Empirical Examination into the Social
Reporting Practices of Islamic Banks in Malaysia and Bah-
rain. Durham theses: Durham University. Available at Durham
E-Theses Online: http://​ethes​es.​dur.​ac.​uk/​13109/ (accessed 05
April 2021).
Hasan MM, Popp J, Oláh J (2020) Current landscape and influence
of big data on finance. J Big Data 7:21. https://​doi.​org/​10.​1186/​
s40537-​020-​00291-z
Hassan A, Syafri Harahap S (2010) Exploring corporate social
responsibility disclosure: the case of Islamic banks. Int J Islam
Middle East Financ Manag 3:203–227
Hazen BT, Boone CA, Ezell JD, Jones-Farmer LA (2014) Data qual-
ity for data science, predictive analytics, and big data in supply
chain management: an introduction to the problem and sugges-
tions for research and applications. Int J Prod Econ 154:72–80.
https://​doi.​org/​10.​1016/j.​ijpe.​2014.​04.​018
Henseler J, Dijkstra TK, Sarstedt M et al (2014) Common beliefs
and reality about PLS: comments on Rönkkö and Evermann
(2013). Organ Res Methods 17:182–209. https://​doi.​org/​10.​
1177/​10944​28114​526928
Hitt MA, Xu K, Carnes CM (2016) Resource based theory in opera-
tions management research. J Oper Manag 41:77–94. https://​
doi.​org/​10.​1016/j.​jom.​2015.​11.​002
Hoffman AJ, Bazerman MH (2005) Changing Environmental Prac-
tice: Understanding and Overcoming the Organizational and
Psychological Barriers. Retrieved from https://​ssrn.​com/​abstr​
act¼663564 (accessed on 02 April 2021).
Inkpen R, Baily B (2020) Environmental beliefs and their role
in environmental behaviours of undergraduate students.
J Environ Stud Sci 10:57–67. https:// ​ d oi. ​ o rg/ ​ 1 0. ​ 1 007/​
s13412-​019-​00570-z
James E (2019) How Big Data Is Changing The Finance Industry.
https://​www.​tamoco.​com/​blog/​big-​data-​finan​ce-​indus​try-​analy​
tics/. Accessed 13 Jan 2021
Jan A, Marimuthu M, Mohd MP, bin, Isa M, (2018) Sustainability
practices and banks financial performance: a conceptual review
from the Islamic banking industry in Malaysia. Int J Bus Manag
13:61. https://​doi.​org/​10.​5539/​ijbm.​v13n1​1p61
Jan A, Marimuthu M, Mat Isabin M MP (2019) The nexus of sustain-
ability practices and financial performance: from the perspective
of Islamic banking. J Clean Prod 228:703–717. https://​doi.​org/​
10.​1016/j.​jclep​ro.​2019.​04.​208
Jan A, Marimuthu M, Hassan R, Mehreen, (2019b) Sustainable busi-
ness practices and firm’s financial performance in islamic bank-
ing: under the moderating role of Islamic Corporate governance.
Sustainability 11:6606. https://​doi.​org/​10.​3390/​su112​36606
Jeucken M 2002 Banking and Sustainability: slow Starters are Gaining
Pace, 11. Ethic Corp Mag, pp. 44–48.
Keeso A 2014 Big Data and Environmental Sustainability: A Conversa-
tion Starter Smith School Working Paper Series
Ketokivi MA, Schroeder RG (2004) Perceptual measures of perfor-
mance: fact or fiction? J Oper Manag 22:247–264. https://​doi.​
org/​10.​1016/j.​jom.​2002.​07.​001
Khazanchi S, Lewis MW, Boyer KK (2007) Innovation-supportive
culture: the impact of organizational values on process innova-
tion. J Oper Manag 25:871–884. https://​doi.​org/​10.​1016/j.​jom.​
2006.​08.​003
Kunhibava S, Ling STY, Ruslan MK (2018) Sustainable financing and
enhancing the role of islamic banks in Malaysia. Arab Law Q
32:129–157. https://​doi.​org/​10.​1163/​15730​255-​12322​023
Lee J, Spratling R (2019) Recruiting mothers of children with devel-
opmental disabilities: adaptations of the snowball sampling tech-
nique using social media. J Pediatr Heal Care off Publ Natl Assoc
Pediatr Nurse Assoc Pract 33:107–110. https://d​ oi.o​ rg/1​ 0.1​ 016/j.​
pedhc.​2018.​09.​011
Lewis MK (2001) Islam and accounting. Account. Forum 25:103–127
Liu H, Ke W, Wei KK et al (2010) The role of institutional pressures
and organizational culture in the firm’s intention to adopt inter-
net-enabled supply chain management systems. J Oper Manag
28:372–384. https://​doi.​org/​10.​1016/j.​jom.​2009.​11.​010
Lyons RK, Chatman JA, Joyce CK (2007) Innovation in services:
corporate culture and investment banking. Calif Manage Rev
50:174–191. https://​doi.​org/​10.​2307/​41166​422
Mallin C, Farag H, Ow-Yong K (2014) Corporate social responsibil-
ity and financial performance in Islamic banks. J Econ Behav
Organ 103:21–38
Manyika J, Chui M, Brown B, et al (2011) Big Data: The Next Frontier
for Innovation, Competition, and Productivity. Mckinsey Digi-
tal. from https://​www.​mckin​sey.​com/​busin​essfu​nctio​ns/​mckin​
sey-​digit​al/​ourin​sights/​big-​data-​the-​next-​front​ier-​for-​innov​ation
(accessed 24 January 2020).
Marsden JH, Wilkinson VA (2018) Big Data Analytics and Corporate
Social Responsibility: Making Sustainability Science Part of the
Bottom Line. In: 2018 IEEE International Professional Commu-
nication Conference (ProComm). pp 51–60
McAfee A, Brynjolfsson E, Davenport TH (2012) Big data: the man-
agement revolution. Harv Bus Rev 90(68):128
Meutia I, Febrianti D (2017) Islamic social reporting in islamic bank-
ing: stakeholders theory perspective. In: SHS Web of Confer-
ences 34. https://​doi.​org/​10.​1051/​shsco​nf/​20173​412001. EDP
Sciences. Retrieved from https://​doi.​org/​10.​1051/​shsco​nf/​20173​
412001 (accessed on 10 April 2021).
Mikalef P, Pappas IO, Krogstie J et al (2018) Big data analytics capa-
bilities: a systematic literature review and research agenda. Info
Sys e-Bus Manag 16:547–5781
Mohd Yusof R, Bahlous M (2013) Islamic banking and economic
growth in GCC & East Asia countries. J Islam Account Bus
Res 4:151–172
Moshtari M (2016) Inter-organizational fit, relationship management
capability, and collaborative performance within a humanitar-
ian setting. Prod Oper Manag 25:1542–1557. https://​doi.​org/​10.​
1111/​poms.​12568
Mueller M, Dos Santos VG, Seuring S (2009) The contribution of
environmental and social standards towards ensuring legitimacy
in supply chain governance. J Bus Ethics 89:509–523
Nobanee H, Ellili N (2016) Corporate sustainability disclosure in
annual reports: evidence from UAE banks: Islamic versus con-
ventional. Renew Sustain Energy Rev 55:1336–1341
13

632
Nonaka I, Toyama R, Konno N (2000) SECI, Ba and leadership: a uni-
fied model of dynamic knowledge creation. Long Range Plann
33:5–34. https://​doi.​org/​10.​1016/​S0024-​6301(99)​00115-6
Olga M, Ian F, Ian G, Andy V (2017) Making sense of Big Data – can
it transform operations management? Int J Oper Prod Manag
37:37–55. https://​doi.​org/​10.​1108/​IJOPM-​02-​2015-​0084
Oztekin A (2018) Creating a marketing strategy in healthcare industry:
a holistic data analytic approach. Ann Oper Res 270:361–382.
https://​doi.​org/​10.​1007/​s10479-​017-​2493-4
Pappas IO, Mikalef P, Giannakos MN et  al (2018) Big data and
business analytics ecosystems: paving the way towards digital
transformation and sustainable societies. Inf Syst E-Bus Manag
16:479–491
Peng DX, Lai F (2012) Using partial least squares in operations man-
agement research: a practical guideline and summary of past
research. J Oper Manag 30:467–480. https://​doi.​org/​10.​1016/j.​
jom.​2012.​06.​002
Podsakoff PM, MacKenzie SB, Lee J-Y, Podsakoff NP (2003) Common
method biases in behavioral research: a critical review of the lit-
erature and recommended remedies. J Appl Psychol 88:879–903.
https://​doi.​org/​10.​1037/​0021-​9010.​88.5.​879
Quinn RE, Rohrbaugh J (1983) A spatial model of effectiveness cri-
teria: towards a competing values approach to organizational
analysis. Manage Sci 29:363–377
Rasiah R, Ahmed A, Al-Amin AQ, Chenayah S (2017) Climate change
mitigation: comparative assessment of Malaysian and ASEAN
scenarios. Environ Sci Pollut Res Int 24:2632–2642. https://​doi.​
org/​10.​1007/​s11356-​016-​7985-2
Raza A, Farrukh M, Iqbal MK et al (2021) Corporate social respon-
sibility and employees’ voluntary pro-environmental behavior:
the role of organizational pride and employee engagement. Corp
Soc Responsib Environ Manag. https://​doi.​org/​10.​1002/​csr.​2109
Razin E (2019) Big Buzz About Big Data: 5 Ways Big Data Is Chang-
ing Finance. https://​www.​forbes.​com/​sites/​elyra​zin/​2015/​12/​03/​
big-​buzz-​about-​big-​data-5-​ways-​big-​data-​is-​chang​ing-​finan​ce/.
Accessed 13 Jan 2021
Runting RK, Phinn S, Xie Z et al (2020) Opportunities for big data in
conservation and sustainability. Nat Commun 11:2003. https://​
doi.​org/​10.​1038/​s41467-​020-​15870-0
Sajjad S, Reza SM, Farhad P (2020) Impact of big data analytics capa-
bilities on supply chain sustainability: a case study of Iran. World
J Sci Technol Sustain Dev 17:33–57. https://​doi.​org/​10.​1108/​
WJSTSD-​06-​2019-​0031
Santoro G, Fiano F, Bertoldi B, Ciampi F (2019) Big data for business
management in the retail industry. Manag Decis 57:1980–1992.
https://​doi.​org/​10.​1108/​MD-​07-​2018-​0829
Sarker MNI, Peng Y, Yiran C, Shouse RC (2020) Disaster resilience
through big data: way to environmental sustainability. Int J Dis-
aster Risk Reduct 51:e101769. https://​doi.​org/​10.​1016/j.​ijdrr.​
2020.​101769
Schoenherr T, Speier-Pero C (2015) Data science, predictive analyt-
ics, and big data in supply chain management: current state and
future potential. J Bus Logist 36:120–132. https://​doi.​org/​10.​
1111/​jbl.​12082
Sengers F, Wieczorek AJ, Raven R (2019) Experimenting for sustain-
ability transitions: a systematic literature review. Technol Fore-
cast Soc Change 145:153–164
Shen D, Chen S-H (2018) Big Data Finance and Financial Markets.
In: Chen S-H (ed) Big Data in Computational Social Science
and Humanities. Springer International Publishing, Cham, pp
235–248
Shrivastava P, Guimarães-Costa N (2017) Achieving environmental
sustainability: the case for multi-layered collaboration across dis-
ciplines and players. Technol Forecast Soc Change 116:340–346
13
Environment Systems and Decisions (2021) 41:616–632
Singh SK, El-Kassar A-N (2019) Role of big data analytics in develop-
ing sustainable capabilities. J Clean Prod 213:1264–1273. https://​
doi.​org/​10.​1016/j.​jclep​ro.​2018.​12.​199
Sivarajah U, Irani Z, Gupta S, Mahroof K (2020) Role of big data and
social media analytics for business to business sustainability: a
participatory web context. Ind Mark Manag 86:163–179. https://​
doi.​org/​10.​1016/j.​indma​rman.​2019.​04.​005
Slaper T, Hall JT (2011) The triple bottom line: what is it and how does
it work. Indiana Bus Rev 86:4–8
Song M, Cen L, Zheng Z et al (2017) How would big data support soci-
etal development and environmental sustainability? Insights and
practices. J Clean Prod 142:489–500. https://​doi.​org/​10.​1016/j.​
jclep​ro.​2016.​10.​091
Song M, Peng J, Wang J, Dong L (2018) Better resource management:
an improved resource and environmental efficiency evaluation
approach that considers undesirable outputs. Resour Conserv
Recycl 128:197–205. https://​doi.​org/​10.​1016/j.​resco​nrec.​2016.​
08.​015
Sousa R, Voss CA (2008) Contingency research in operations manage-
ment practices. J Oper Manag 26:697–713. https://​doi.​org/​10.​
1016/j.​jom.​2008.​06.​001
Tang G, Park K, Agarwal A, Liu F (2020) Impact of innovation cul-
ture, organization size and technological capability on the perfor-
mance of smes: the case of China. Sustainability 12:1355. https://​
doi.​org/​10.​3390/​su120​41355
Teece DJ, Pisano G, Shuen A (1997) Dynamic capabilities and strategic
management. Strateg Manag J 18:509–533
Waller MA, Fawcett SE (2013) Data science, predictive analytics, and
big data: a revolution that will transform supply chain design and
management. J Bus Logist 34:77–84. https://d​ oi.o​ rg/1​ 0.1​ 111/j​ bl.​
12010
Wamba SF, Gunasekaran A, Akter S et al (2017) Big data analytics
and firm performance: effects of dynamic capabilities. J Bus Res
70:356–365. https://​doi.​org/​10.​1016/j.​jbusr​es.​2016.​08.​009
Wang G, Gunasekaran A, Ngai EWT, Papadopoulos T (2016) Big
data analytics in logistics and supply chain management: cer-
tain investigations for research and applications. Int J Prod Econ
176:98–110. https://​doi.​org/​10.​1016/j.​ijpe.​2016.​03.​014
Wang Y, Kung L, Byrd TA (2018) Big data analytics: Understanding
its capabilities and potential benefits for healthcare organiza-
tions. Technol Forecast Soc Change 126:3–13. https://​doi.​org/​
10.​1016/j.​techf​ore.​2015.​12.​019
Wanner J, Janiesch C (2019) Big data analytics in sustainability reports:
an analysis based on the perceived credibility of corporate pub-
lished information. Bus Res 12:143–173. https://d​ oi.o​ rg/1​ 0.1​ 007/​
s40685-​019-​0088-4
Yip AW, Bocken NM (2018) Sustainable business model archetypes
for the banking industry. J Clean Prod 174:150–169
Yusoff H, Darus F (2014) Mitigation of climate change and preven-
tion of pollution activities: environmental disclosure prac-
tice in Islamic financial institutions. Procedia-Soc Behav Sci
145:195–203
Zeng S, Jiang C, Ma C et al (2018) Investment efficiency of the new
energy industry in China. Energy Econ 70:536–544
Zhou Z, Chawla NV, Jin Y, Williams GJ (2014) Big data opportuni-
ties and challenges: discussions from data analytics perspectives
[discussion forum]. IEEE Comput Intell Mag 9:62–74. https://​
doi.​org/​10.​1109/​MCI.​2014.​23509​53
Zinde-Walsh V 1995 Estimation and Inference In Econometrics Russell
Davidson and James G. MacKinnon Oxford University Press,
1993. Econom Theory 11:631–635 Doi: https://​doi.​org/​10.​1017/​
S0266​46660​00094​52