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Transistor transconductances usually form an important part in setting the magnitude of the loop gain of the opamp. To stabilize the opamp you often tweak the loop gain. So thats why they are important. Don't know if I understood and replied to your query.
Because in the analog applications we consider transistor as a transconductance device. It means if we change gate-source voltage the drain current changes too. The law of drain current changing is showed through the transconductance parameter gm = did/dvgs
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