Developing Green Accounting, Audit, and Consulting Services to Support Entrepreneurship: An Econometric Assessment of Environmental Efficiency in Karakalpakstan

This study examines the role of green accounting, green auditing, and environmental consulting services in enhancing entrepreneurial sustainability and environmental performance in resource-constrained regions. Using a balanced panel dataset of 150 enterprises in the Republic of Karakalpakstan over the period 2019–2024 (900 observations), the paper applies fixed-effects and instrumental-variable two-stage least squares (IV-2SLS) estimations to address endogeneity in consulting service adoption. Environmental performance is measured through a composite Environmental Performance Index (EPI). The results demonstrate that external environmental consulting exerts the strongest positive and statistically significant impact on ecological efficiency, exceeding the effects of internal green accounting systems and green audit practices. After correcting for endogeneity, the estimated impact of consulting services increases substantially, confirming that conventional models underestimate their true effect. The findings provide robust empirical justification for regional policy interventions, including green consulting vouchers and digital advisory platforms for small and medium-sized enterprises. The study contributes to the literature by offering one of the first econometric evaluations of green consulting effectiveness in Central Asia.

Hali tarjima qilinmagan