The main purpose of this study is to scrutinize the effect of financial inclusion on financial sustainability, financial efficiency, gross domestic product, and human development in the context of G20 nations. This study has employed annual data of 15 developed and emerging economies during the period from 2004 to 2017. The current study has utilized a single index for financial inclusion, financial sustainability, and financial efficiency by employing principal composite analysis (PCA). The outcomes of the panel stationarity test confirmed the ARDL model for both the long and short runs. Equally, the findings of the ARDL Model 1 showed no association between financial inclusion and financial sustainability in the short run, however, in the long run, inclusive finance showed a significant impact on sustainability. Likewise, the ARDL Model 2 showed that financial inclusion has no effect on efficiency in the short run, while it positively influenced financial efficiency in the long run. The results of the ARDL Model 3 are also similar to Models 1 and 2 where inclusive finance showed no effect on poverty in the short run, but a significant effect in long run. Similarly, the ARDL Model 4 also presented no association between GDP and inclusive finance in the short run, while it showed significant relationships in the long run. Moreover, the outcomes of the GMM Model 1 showed a significant impact of inclusive finance on financial stability, and these results were similar to the GMM Model 2 between financial inclusion and financial efficiency. Additionally, GMM Models 3 and 4 have shown that inclusive finance has a statistically significant impact on poverty and economic expansion, respectively. The outcomes of this article are essential for policymakers, academics, regulators, and practitioners with valuable and convincing debate over financial inclusion, economic growth, poverty, sustainability, and financial efficiency.

The main purpose of this study is to shed light on the relationship between corporate governance, tax avoidance, and corporate social responsibility disclosure in emerging and frontier markets Nigeria and Pakistan, respectively. The current study employs a unique set of datasets about 91 companies from the Nigeria Stock Market and 121 companies from the Pakistan Stock Market for the period of ten years from 2011 to 2020. We used a fixed effect regression model to analyze the panel data. From the analysis, we find that corporate social responsibility is positively and significantly associated with tax avoidance in the case of Nigeria. Meanwhile, CSR has a positive but insignificant effect on tax avoidance in the case of Pakistan. However, board nationality shows a positive and insignificant impact on CSR, whereas board independence, board ownership, board diversity, and board size are negatively and insignificantly associated with CSR in Nigerian firms. In the case of Pakistani firms, both board ownership and board independence are positively and insignificantly associated with CSR, though board nationality has a negative but significant relationship with CSR, and board diversity and board size are negatively and insignificantly related to CSR. The paper’s findings have vital implications for policymakers, academics, and capital market users in the frontier and emerging economies. It has better significance for the government and companies to pay attention to CSR.