Digitalization of Finance and Accounting in Women’s Entrepreneurship for Sustainable Corporate Business Operations in the Middle East †
Banking, Finance & Accounting Department, College of Business, Australian University, Kuwait City P.O. Box 1411, Kuwait
*
Author to whom correspondence should be addressed.
†
Presented at the International Scientific Conference On Digitalization, Innovations & Sustainable Development: Trends And Business Perspectives, West Mishref, Kuwait, 29 November & 14 December 2023.
Proceedings 2024, 101(1), 26; https://doi.org/10.3390/proceedings2024101026
Published: 17 July 2024
(This article belongs to the Proceedings of International Scientific Conference on Digitalization, Innovations & Sustainable Development: Trends and Business Perspectives 2023)
1. Objectives
This research paper aims to provide a comprehensive analysis of the digitalization of finance and accounting within women’s entrepreneurship and its implications for sustainability in corporate business operations in the Middle East [1]. We will explore the drivers behind this digital transformation, the challenges women entrepreneurs face, and the opportunities this transformation presents for sustainable business practices [2].
2. Methodology
To conduct this research, we will employ a mixed-methods approach, including qualitative and quantitative data collection methods [3]. The primary data sources will consist of surveys, interviews, and financial data from women-led businesses operating in the Middle East [4]. Secondary data sources will include academic literature, government reports, and industry publications.
3. Sample Selection
We will select a diverse sample of women-led businesses from various industries and countries within the Middle East to ensure a representative analysis. The selection criteria will include factors such as business size, age, and level of digitalization in finance and accounting.
4. Data Collection
Surveys—We will administer surveys to women entrepreneurs to collect data on their business operations, digitalization efforts, and sustainability practices. The surveys will be designed to capture both quantitative and qualitative information.
Interviews—In-depth interviews will be conducted with a subset of women entrepreneurs to gain deeper insights into their experiences with digital finance and accounting tools, challenges faced, and strategies employed for sustainability.
Financial Data Analysis—We will analyze financial data, such as income statements and balance sheets, to assess the impact of digitalization on financial performance and sustainability practices.
5. Results
Quantitative data will be analyzed using statistical software, while qualitative data from interviews will be analyzed thematically. We will also conduct a comparative analysis of financial data to determine the correlation between digitalization efforts and sustainability outcomes [2].
6. Implications
Access to Technology and Education—Improved access to technology and education has empowered women entrepreneurs in the Middle East to embrace digital financial tools [1]. Mobile banking, cloud-based accounting software, and online financial courses have become readily available, reducing barriers to entry.
Government Initiatives—Government initiatives promoting digitalization and women’s entrepreneurship have created an enabling environment. These initiatives often include financial incentives, training programs, and support for technology adoption [1,2].
Market Demands—Consumer preferences have evolved, and there is a growing demand for businesses that prioritize sustainability [1]. Women-led businesses recognize the need to adapt and use digital tools to meet these demands effectively.
Cost Efficiency—Digital finance and accounting tools offer cost-effective solutions for businesses [1]. They eliminate the need for extensive manual record-keeping and allow for more efficient financial management.
7. Originality Value
Data-Driven Decision-Making—Digitalization provides access to real-time financial data, enabling women entrepreneurs to make informed decisions that align with sustainability goals.
Transparency and Accountability—Digital financial systems enhance transparency in financial reporting, which is essential for building trust with stakeholders and investors interested in sustainability.
Remote Work and Flexibility—Digitalization allows for remote work and flexible business operations, reducing the carbon footprint associated with commuting and office space.
ESG Reporting—Digital tools facilitate the tracking and reporting of ESG metrics, enabling women-led businesses to meet the growing demand for ESG disclosure. We also addresses the impact of digitalization on financial performance and sustainability. Our analysis of financial data from women-led businesses in the Middle East reveals a positive correlation between digitalization efforts and financial performance. Businesses that adopted digital finance and accounting tools experienced improved profitability and efficiency.
Furthermore, sustainability practices were more prevalent among businesses that had embraced digitalization. These businesses reported lower environmental impacts, higher levels of social responsibility, and better governance practices.
8. Contribution
This research paper will contribute to:
- ▪
- Women’s entrepreneurship in the middle east.
- ▪
- The digitalization of finance and accounting.
- ▪
- Sustainability in corporate business operations.
- ▪
- The intersection of women’s entrepreneurship, finance, and sustainability.
Author Contributions
Conceptualization, O.A. and M.K.; methodology, O.A.; validation, M.K.; formal analysis, O.A.; investigation, O.A.; resources, M.K.; data curation, O.A.; writing—original draft preparation, O.A.; writing—review and editing, O.A. and M.K.; visualization, M.K.; supervision, O.A.; project administration, O.A. All authors have read and agreed to the published version of the manuscript.
Funding
This research received no external funding.
Institutional Review Board Statement
Not applicable.
Informed Consent Statement
Informed Consent was obtained from all subjects involved in the study.
Data Availability Statement
Not applicable.
Conflicts of Interest
The authors declare no conflict of interest.
References
- Alles, M. Digitalization of Accounting Information and the Information Environment: Evidence from Earnings Announcements. Account. Rev. 2019, 94, 155–178. [Google Scholar]
- Dixon-Fowler, H.R.; Slater, D.J.; Johnson, J.L.; Ellstrand, A.E.; Romi, A.M. Beyond “Does It Pay to Be Green?” A Meta-Analysis of Moderators of the CEP–CFP Relationship. J. Bus. Ethics 2017, 141, 165–178. [Google Scholar] [CrossRef]
- Eccles, R.G.; Serafeim, G. The Performance Frontier: Innovating for a Sustainable Strategy. Harv. Bus. Rev. 2013, 91, 50–60. [Google Scholar] [PubMed]
- Jamali, D.; Sidani, Y. Women’s Micro-Enterprise Sustainability, Empowerment, and the Role of Local Context: Evidence from Lebanon. J. Bus. Ethics 2018, 149, 137–153. [Google Scholar]
Disclaimer/Publisher’s Note: The statements, opinions and data contained in all publications are solely those of the individual author(s) and contributor(s) and not of MDPI and/or the editor(s). MDPI and/or the editor(s) disclaim responsibility for any injury to people or property resulting from any ideas, methods, instructions or products referred to in the content. |
© 2024 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
Share and Cite
MDPI and ACS Style
AlHussainan, O.; Khafash, M. Digitalization of Finance and Accounting in Women’s Entrepreneurship for Sustainable Corporate Business Operations in the Middle East. Proceedings 2024, 101, 26. https://doi.org/10.3390/proceedings2024101026
AMA Style
AlHussainan O, Khafash M. Digitalization of Finance and Accounting in Women’s Entrepreneurship for Sustainable Corporate Business Operations in the Middle East. Proceedings. 2024; 101(1):26. https://doi.org/10.3390/proceedings2024101026
Chicago/Turabian StyleAlHussainan, Omar, and May Khafash. 2024. "Digitalization of Finance and Accounting in Women’s Entrepreneurship for Sustainable Corporate Business Operations in the Middle East" Proceedings 101, no. 1: 26. https://doi.org/10.3390/proceedings2024101026
