Challenges, opportunities and future direction of foreign finance, market indexing, eco-efficiency impact on economic development and sustainable development goals, evidence developed and emerging countries

The study seeks to investigate the financial business market strategy and the impact of foreign sources of financing in developed and emerging countries. This study examines the annual metadata of the Stock Market Index, exchange rate index, Sustainable development goals index, eco-efficiency, and gross domestic product of developed countries, i.e., UK, USA, Canada, Australia, Japan, Germany, France, and emerging countries, i.e., Brazil, Malaysia, Thailand, Philippines, China, Indonesia, India, and Pakistan has been considered as sample data for this study. Unit root test for the stationary test, Johansen’s Co-integration test, Granger Causality, and Generalized Method of Moments (GMM) for panel data applied to test the short-run/long-run impact, association, and behavior of variables. Models 1 and 2, which result from financial sustainability, show that the stock market, exchange rate, Sustainable Development Goals, and Gross Domestic Product, as well as eco-efficiency, indicate highly significant and asymmetrical relationships exist with countries ' growth, similar to Models 3 and 4, which focus on Sustainable Development Goals. The Robustness test validates the study’s findings. Financial sustainability implications and recommendations are clear for investors. Forecasting market behavior, financing efficiency, investment diversification, multi-corporate management, and exchange management have informed significant investment decisions. Furthermore, these findings help policymakers and regulatory authorities design effective financial strategies for market and economic sustainability.