Sustainable Development of Women's Entrepreneurship in The Service Sector: Organizational and Economic Mechanisms Based on ESG Principles
DOI:
https://doi.org/10.51699/cajitmf.v7i3.1311Keywords:
Women's Entrepreneurship, ESG Principles, Sustainable Development, Service Sector, Gender Equality, Regression Analysis, Economy of UzbekistanAbstract
This article provides a scientific and methodological analysis of organizational and economic mechanisms based on ESG (Environmental, Social, Governance) principles for ensuring the sustainable development of women's entrepreneurship in the service sector. A multiple regression analysis was conducted using empirical data collected from 2016 to 2025 based on Uzbek and international experience. The research results indicate that the impact of the ESG index on women's entrepreneurship is statistically significant at b=0.487 (p<0.001). The share of women in the service sector was found to have increased from 18.4% in 2016 to 37.8% by 2025. The article proposes an integrated model that combines public policy, financial mechanisms, and digital transformation measures.
References
C. G. Brush, P. G. Greene, and F. Welter, “The Diana project: A legacy for research on gender and entrepreneurship,” International Journal of Gender and Entrepreneurship, vol. 12, no. 1, pp. 7–25, 2020, doi: 10.1108/IJGE-04-2019-0083.
S. Djankov, R. Ramalho, and M. S. Emran, “Doing Business: A Celebration and a Criticism,” World Bank Policy Research Working Paper, no. 9672, Washington, DC, USA, 2021.
R. G. Eccles and S. Klimenko, “The investor revolution,” Harvard Business Review, vol. 97, no. 3, pp. 106–116, 2019.
European Bank for Reconstruction and Development (EBRD), Transition Report 2022–23: Business Unusual. London, UK: EBRD, 2022.
European Institute for Gender Equality (EIGE), Gender Equality Index 2023. Vilnius, Lithuania: EIGE, 2023.
G. Friede, T. Busch, and A. Bassen, “ESG and financial performance: Aggregated evidence from more than 2000 empirical studies,” Journal of Sustainable Finance & Investment, vol. 5, no. 4, pp. 210–233, 2015, doi: 10.1080/20430795.2015.1118917.
International Finance Corporation (IFC), Digital Financial Services and Women Entrepreneurs in Emerging Markets. Washington, DC, USA: IFC, 2023.
International Labour Organization (ILO), Women and Men in the Informal Economy. Geneva, Switzerland: ILO Publications, 2024.
N. Kabeer, “Women’s empowerment and economic development,” Feminist Economics, vol. 26, no. 2, pp. 1–26, 2020, doi: 10.1080/13545701.2020.1755885.
World Economic Forum, Global Gender Gap Report 2024. Geneva, Switzerland: World Economic Forum, 2024.
World Bank, Women, Business and the Law 2023. Washington, DC, USA: World Bank Publications, 2023.
PricewaterhouseCoopers (PwC), ESG Pulse Survey: Global CFO Perspectives. London, UK: PwC, 2024.
E. Rosca, M. Arnold, and J. C. Bendul, “Business models for sustainable innovation,” Journal of Cleaner Production, vol. 162, pp. 133–145, 2017, doi: 10.1016/j.jclepro.2016.11.051.
United Nations Development Programme (UNDP), Gender Equality and Sustainable Development: Pathways to 2030. New York, NY, USA: UNDP, 2023.
United Nations, The Sustainable Development Goals Report 2023. New York, NY, USA: United Nations Department of Economic and Social Affairs (UN DESA), 2023.
R. Naguib and J. Barbar, “Factors Shaping Sustainability Through Female Entrepreneurship in the GCC: A Systematic Review with Multi-Level and Institutional Perspective,” Sustainability, vol. 17, no. 5, Art. no. 2163, 2025, doi: 10.3390/su17052163.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Mirzayeva Shirin Nodirovna
This work is licensed under a Creative Commons Attribution 4.0 International License.
In submitting the manuscript to the Central Asian Journal of Innovations on Tourism Management and Finance, the authors certify that:
- They are authorized by their co-authors to enter into these arrangements.
- The work described has not been formally published before, except in the form of an abstract or as part of a published lecture, review, thesis, or overlay journal.
- That it is not under consideration for publication elsewhere,
- The publication has been approved by the author(s) and by responsible authorities – tacitly or explicitly – of the institutes where the work has been carried out.
- They secure the right to reproduce any material that has already been published or copyrighted elsewhere.
- They agree to the following license and copyright agreement.
License and Copyright Agreement
Authors who publish with Central Asian Journal of Innovations on Tourism Management and Finance agree to the following terms:
- Authors retain copyright and grant the Central Asian Journal of Innovations on Tourism Management and Finance right of first publication with the work simultaneously licensed under Creative Commons Attribution License (CC BY 4.0) that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors can enter into separate, additional contractual arrangements for the non-exclusive distribution of the Central Asian Journal of Innovations on Tourism Management and Finance published version of the work (e.g., post it to an institutional repository or edit it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) before and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
