The role of digital accounting transformation in the banking industry sector: an integrated model

Manaf Al-Okaily, Ayman Abdalmajeed Alsmadi, Najed Alrawashdeh, Aws Al-Okaily, Yazan Oroud and Anwar S. Al-Gasaymeh

Journal of Financial Reporting and Accounting, 2023, vol. 22, issue 2, 308-326

Abstract: Purpose - The digital transformation revolution has brought outstanding changes to business organizations, especially in the digital accounting transformation domain. Consequently, the purpose of this study is to explore the important role of digital accounting transformation in improving business performance in the context of the banking industry. Design/methodology/approach - Data were collected through a questionnaire from the Jordanian bank sector with a sample of 190 respondents. Partial least squares structural equation modeling (PLS-SEM) was used to analyze the collected data and test the hypotheses. Findings - The results have shown that the adoption of digital accounting, adoption of FinTech innovation and technological competition are the major drivers for improving business performance. All direct paths leading to improving business performance were found to be significant in the hypothesized directions, while technological savvy was found to indirectly affect the relationship between (the adoption of digital accounting and FinTech innovation) and improving business performance. Originality/value - The current study is differentiated from other studies by developing a theoretical research model to incorporate the adoption of digital accounting, adoption of FinTech innovation, technological competition, technological savvy and business performance in the Jordanian context under the digital transformation revolution. For practitioners, the findings provide policymakers with meaningful insight for organizations looking to adopt these digital technologies for improved business performance.

Keywords: Business digitization; Banking industry; Digital accounting; Digital transformation; FinTech innovation; Technological savvy (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrapp:jfra-04-2023-0214

DOI: 10.1108/JFRA-04-2023-0214

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