Abstract
Objectives of the Study: This study attempts to empirically investigate the connections of digital society and economy (DESI) on green accounting finance (GAF) by applying diverse econometric methods to a global sample of 24 nations during the 2010 - 2022 stage.
Methodology: Four e-commerce measures are used to evaluate digital enterprises: online sales, electronic commerce sales, electronic trade web sales, and electronic commerce turnover. Additionally, two aspects of e-business are evaluated: CRM and cloud services. Various econometric techniques are used to support our conclusions, including modeling with PCSE and FGLS estimation. These methods work well with data with a cross-sectional dependency and may present certain econometric challenges, such as heteroskedasticity, endogeneity, and multicollinearity. Economists and decision-makers can choose a suitable strategic path for sustainable development by promoting digitalization and green accounting finance with the aid of this paper’s results.
Result: The estimation results demonstrate that digital transformation into society and economy promotes green accounting finance. We obtain solid results by employing more explanatory variables and utilizing various econometric approaches. The conclusion is that these activities help enhance green finance.
Conclusion: Our findings indicate that the promotion of digitization is essential for the successful implementation of green accounting financing initiatives across European countries.