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This study aims to explore key questions within the context of Asian countries: How do artificial intelligence (AI) and blockchain adoption in accounting influence enterprise risk management and environmental, social and governance (ESG) performance? What role does enterprise risk management have as a mediator in this relationship? In addition, how does environmental uncertainty shape the interplay between AI and blockchain adoption in accounting, enterprise risk management and ESG performance?

The authors collected data from Thomson Reuters Eikon Datastream, initially targeting the 20 Asian countries with the highest gross domestic product (GDP) per capita. Using stringent selection criteria, the research sample included 22,212 firms from these countries: Bahrain, China, Hong Kong, Indonesia, Israel, Japan, Jordan, Kazakhstan, South Korea, Kuwait, Lebanon, Malaysia, Oman, Qatar, Saudi Arabia, Singapore, Sri Lanka, Thailand, the United Arab Emirates and Vietnam. After a rigorous screening process, the final sample comprised 1,742 firms, representing 17,420 firm-year observations over the 2014–2023 period. This paper applied maximum likelihood structural equation modeling to analyze the data.

The findings reveal that both AI and blockchain adoption in accounting, along with enterprise risk management, positively impact ESG performance in the Asian context. Enterprise risk management serves as a mediating factor between AI and blockchain adoption in accounting and ESG performance. In addition, environmental uncertainty significantly moderates the relationships between AI and blockchain adoption in accounting and enterprise risk management, as well as between enterprise risk management and ESG performance.

This study uncovers the interplay between internal factors – such as AI and blockchain adoption in accounting and enterprise risk management – and external factors, notably environmental uncertainty, in fostering sustainable value for Asian firms. Internal factors enable firms to integrate ESG considerations into their operations, facilitating risk mitigation and enhancing ESG performance. Meanwhile, heightened environmental uncertainty drives the adoption of sustainable practices. Consequently, Asian Governments should prioritize the development of regions characterized by high environmental uncertainty to advance national sustainable development goals and encourage responsible business practices.

This study contributes to the existing literature by uncovering the combined effects of internal and external factors on ESG performance, offering empirical evidence from Asian countries with high GDP per capita. Specifically, it underscores the efficacy of AI and blockchain adoption in accounting and enterprise risk management, as well as the moderating role of environmental uncertainty, within the Asian context.