Fig. 1: Conceptual framework of the study.

This figure illustrates the hypothesized relationships among Fintech Adoption (FA), CSR Practices (CSR), Green Finance (GF), Financial Performance (FINP), and Environmental Sustainability Performance (ESP). The framework proposes both direct and mediating effects, where CSR and GF mediate the impact of FA on ESP and FINP. Specific hypotheses (H1–H9) denote the direct paths, while H10–H13 capture the mediating pathways through CSR and GF.