“…We then use a comparative analysis to examine these relationships in the manufacturing and the service industries. To measure financial performance, we use debt ratio (DR), profit margin (PM), return on total assets (ROA), market‐to‐book ratio (MBR), and inventory turnover (ITO), which are recognized in the literature as important dimensions of a firm's financial performance (Aragon‐Correa et al, ; Elsayed & Paton, ; Iwata & Okada, ; Judge & Douglas, ; Kassinis & Soteriou, ; King and Lenox, ; Konar & Cohen, ; Labuschagne et al, ; Nakao et al, ; Russo & Fouts, ; Sarkis & Cordeiro, ; Schendler, ; Sharma & Vredenburg, ).…”