Background In light of the accelerating global shift toward financial digitalization, this research explores the impact of electronic payment instruments on the market value of agricultural companies listed on the Iraq Stock Exchange (ISX). The study addresses the necessity of understanding how digital transformation in financial transactions can mitigate challenges such as low liquidity and price volatility within the agricultural sector, ultimately aiming to enhance investment attractiveness and market performance. Methods To achieve the study objectives, monthly data were collected for the period from June 2021 to May 2024, yielding a total of 144 observations. The sample comprised four listed agricultural firms: Al-Haditha for Animal Production, Middle East for Fish, Iraqi for Meat Production and Marketing, and Iraqi for Agricultural Products. The Pooled Mean Group - Autoregressive Distributed Lag (PMG-ARDL) model was employed to examine the relationship between the independent variables (mobile payments and electronic clearing) and the dependent variable (market value), while ensuring data stationarity and testing for long-term equilibrium. Results Statistical findings revealed a significant positive impact of electronic payment methods on the market value of the sampled companies. Specifically, electronic checks (clearing) exhibited a more substantial influence; a 1% increase in their utilization leads to a 0.26% rise in market value. Meanwhile, a 1% increase in mobile payments contributes to a 0.032% appreciation in market value. These results underscore the efficacy of financial technology in optimizing market performance indicators. Conclusions The study concludes that transitioning toward digital banking significantly enhances trading efficiency and fosters investor confidence, which is reflected positively in corporate valuation. The research recommends intensifying governmental and banking initiatives to strengthen digital infrastructure. Furthermore, it encourages large-scale agricultural enterprises to list on the ISX to deepen the Iraqi financial market and provide sustainable growth drivers for the national economy.
Battal et al. (2026) studied this question.