Managing Financial and Operational Risks Through Digital Transformation: The Mediating Influence of Information and Communication Technologies’ Adoption and Resistance to Change

This study examines the relationships among ICT adoption, resistance to change, and digital transformation, focusing on their influence on financial and operational risk management. The research utilizes a quantitative design, drawing on data from 768 Moroccan professionals across multiple industries. Structural Equation Modeling (SEM) was employed to analyze both direct and indirect effects within the proposed theoretical framework. The findings indicate that ICT adoption has a positive effect on digital transformation, whereas resistance to change exerts a negative influence. Additionally, digital transformation mediates the impact of ICT adoption and resistance to change on financial and operational risks, thereby reducing these risks. These results underscore the potential role of change management in facilitating digital transformation and mitigating risk. From a managerial and policy standpoint, the study highlights the importance of fostering an organizational environment supportive of ICT adoption and addressing resistance to change. Integrating digital transformation into risk management strategies may also contribute to organizational resilience. This research extends existing knowledge by clarifying how digital transformation mediates the relationship between technology adoption, organizational behavior, and risk management

Navigating Financial Risk in the Digital Age: The Mediating Role of Performance and Indebtedness

In the context of an increasingly digital economy, firms are rapidly adopting technological innovations to bolster financial resilience and competitiveness. However, the quantitative impact of digital transformation on key financial outcomes—specifically performance, indebtedness, and risk—remains underexplored. This study investigates the extent and pathways through which digital transformation influences financial structures and stability. Employing Structural Equation Modeling (SEM) on firm-level survey data, the analysis reveals that digital transformation significantly enhances financial performance (β = 0.538, p < 0.01). Improved performance, in turn, leads to substantial reductions in firm indebtedness (β = −0.591, p < 0.01) and financial risk (β = −0.124, p = 0.021). While digital transformation does not directly affect indebtedness, it mitigates financial risk indirectly through two mediating variables: financial performance and firm indebtedness (mediated effects: β = −0.221 and β = −0.318, respectively; both p < 0.01). These findings underscore the financial value of digital initiatives, highlighting their role in enhancing performance and reducing financial vulnerabilities. The study offers strategic insights for managers and policymakers aiming to leverage digital transformation for financial optimization