Academic literature on the topic 'Fintech firms'
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Journal articles on the topic "Fintech firms":
1
Atkins, Rachel M. B., Lisa Cook, and Robert Seamans. "Using Technology to Tackle Discrimination in Lending: The Role of Fintechs in the Paycheck Protection Program." AEA Papers and Proceedings 112 (May 1, 2022): 296–98. http://dx.doi.org/10.1257/pandp.20221030.
Abstract:
We assess the role of fintech firms in loans made through the Paycheck Protection Program (PPP), a US government policy response to the COVID-19 pandemic that provided loans to small businesses. We argue that fintech firms' reliance on technology rather than relationship-banking approaches used by traditional banks helps to address discrimination in lending, at least in part. Using newly released data on the PPP program, we find support for our arguments: while Black-owned businesses received loans that were approximately 50 percent lower than observationally similar White-owned businesses, the effect narrows considerably when fintechs are allowed to provide loans.
2
Meiling, Li, Farzan Yahya, Muhammad Waqas, Zhang Shaohua, Syed Atif Ali, and Alishba Hania. "Boosting Sustainability in Healthcare Sector through Fintech: Analyzing the Moderating Role of Financial and ICT Development." INQUIRY: The Journal of Health Care Organization, Provision, and Financing 58 (January 2021): 004695802110281. http://dx.doi.org/10.1177/00469580211028174.
Abstract:
Healthcare organizations are setting new targets of sustainable practices to improve their financial performance without depleting social and natural capital. Maintaining a sustainable, resilient, and durable healthcare system facilitate economies to achieve sustainable competitiveness. Thus, it is important to address and fill the knowledge gap by identifying factors that improve a firm’s sustainability. Drawing on technological knowledge spillover theory, this study investigates the effect of FinTech development on the sustainable performance of healthcare firms using panel data comprised of 11 Asia-Pacific countries. By applying the 2-step GMM technique, we find a robust estimate that digital financial technologies improve the sustainable performance of the firms. Contrary to the substitution effect, our results further indicate that financial institutions are collaborating with FinTechs to facilitate financing at the individual and firm-level. We also find that financial and ICT development positively moderates the relationship between FinTech development and sustainable performance.
3
CHEMMANUR, THOMAS J., MICHAEL B. IMERMAN, HARSHIT RAJAIYA, and QIANQIAN YU. "RECENT DEVELOPMENTS IN THE FINTECH INDUSTRY." Journal of Financial Management, Markets and Institutions 08, no. 01 (June 2020): 2040002. http://dx.doi.org/10.1142/s2282717x20400022.
Abstract:
In this article, we review some recent developments in the field of Financial Technology or “FinTech.” We begin with an overview of what FinTech is and why it has become an important growth industry in the financial services area and therefore an important research topic in finance. In the next section, we review some of the academic literature in the FinTech area. In the subsequent section, we characterize the financing of FinTech startups, especially by venture capital firms. In the following section, we characterize innovation by FinTech firms as well as by incumbent financial intermediaries. In the next section, we move on to discuss potential sources of value creation by FinTech start-up firms relative to existing incumbent firms: we conjecture that one source of value creation may arise from FinTech startups being able to provide a superior customer experience relative to incumbent firms in various areas of consumer finance. In the following section, we discuss the regulatory environment facing FinTech firms, in their banking as well as in their financial market activities. In the penultimate section, we analyze the buy-versus-build decision facing firms choosing to enter the FinTech sector and discuss the trade-offs that may drive such decisions in practice. We conclude with some remarks about the future directions that may be taken by the FinTech industry.
4
Knewtson, Heather S., and Zachary A. Rosenbaum. "Toward understanding FinTech and its industry." Managerial Finance 46, no. 8 (April 10, 2020): 1043–60. http://dx.doi.org/10.1108/mf-01-2020-0024.
Abstract:
PurposeThe purpose of this study is to define FinTech, differentiating it from financial technology and use the definition to develop an industry framework.Design/methodology/approachUsing the existing literature on FinTech and incorporating these contributions into a traditional financial structure, characteristics are outlined and placed into a framework that describes the FinTech industry.FindingsFinTech is a specific type of Financial Technology, defined as technology used to provide financial markets a financial product or financial service, characterized by sophisticated technology relative to existing technology in that market. Firms that primarily use FinTech are classified as FinTech firms. Using these definitions, the paper provides a structure for the FinTech industry, classifying each type of FinTech firm by FinTech characteristics.Research limitations/implicationsResearch that would inform the economic importance of FinTech would be served with an increased understanding of FinTech firms and the FinTech industry.Originality/valueThis paper contributes by defining FinTech and developing a comprehensive framework to describe the emerging FinTech industry.
5
Hudaefi, Fahmi Ali. "How does Islamic fintech promote the SDGs? Qualitative evidence from Indonesia." Qualitative Research in Financial Markets 12, no. 4 (March 14, 2020): 353–66. http://dx.doi.org/10.1108/qrfm-05-2019-0058.
Abstract:
Purpose This study aims to explore the existing Islamic financial technology (fintech) lending in Indonesia. Doing so is to better understand in what way the fintech firms have been promoting the global movement of sustainable development goals (SDGs) in the local context. Design/methodology/approach This study engages qualitative methods. This paper first reviews relevant literature related to fintech and establishes the substantive definition of Islamic fintech. Further, the existing literature of SDGs is explored to understand its original idea and its recent implementation, particularly in Indonesia. Following this, the official reports from the domestic regulators are referred to select the fintech firms which meet the criteria of Islamic fintech lending based on the proposed definition. The selected firms are then analysed based on several themes which best capture their position in promoting the SDGs. Finally, the discussion is linked to the recent performance of Indonesia in implementing SDGs. Findings This work finds that the reviewed fintech firms have been promoting the idea of financial inclusion, for example, financing the underdeveloped sectors such as agriculture and small and micro enterprises (SMEs). Furthermore, the selected fintech firms are also found to collect and distribute Islamic social funds such as infaq (charity spending), waqf (endowment) and sadaqah (voluntary charity). Besides, the firms are also found to initiate charity programmes for underprivileged community. In some degree, these findings are synonymous of the firms’ effort in promoting SDG of ending poverty (SDG 1) and hunger (SDG 2) and reducing the inequalities (SDG 10). Research limitations/implications The discussion of this work does not provide any positivist generalisation due to the method used. Practical implications The Indonesian Government is advised to legally engage with the existing fintech firms and other related stakeholders to best solve its recent issue of the declining trend in SDG 15 (life on land). Social implications This work elaborates in what way the Islamic fintech lending has been promoting the SDGs in Indonesian context. In some extent, such discussion can best challenge the social issue of fintech which has been stigmatised of bringing mafsadah (harm), as subjectively claimed by one particular religious group in Indonesia. Originality/value This study is among the pioneers which offers the definition of Islamic fintech and further explains its position in endorsing the global movement of SDGs.
6
Neubert, Michael. "Pricing Decisions of FinTech Firms." International Journal of Marketing Studies 12, no. 3 (June 23, 2020): 14. http://dx.doi.org/10.5539/ijms.v12n3p14.
Abstract:
The purpose of this study is to analyze the pricing strategies of French FinTech Firms (FFFs) using quantitative descriptive and correlational research methods. Based on a representative sample of 246 FFF, the study provided consistent support for the hypotheses, which argues that FFFs with high price-setting power may implement a combination of the price-setting strategy (PSS) “skimming” and the price-setting practice (PSP) “value-informed”. FFFs applying “market-based” PSSs tend to use “competition-informed” PSP preferring “pay-per-use” price-setting model (PSM). Whilst FFFs who apply “penetration” PSS tend to use “cost-informed” PSP and “pay-per-use” PSM. The findings support founders and senior management in their pricing decisions. This paper contributes to the existing literature on pricing strategies of early-stage high-tech companies. There is a need for further research about the change of pricing strategies during the lifecycle of a firm using for example a longitudinal quantitative study.
7
Гусев, Андрей, and Andrey Gusev. "Value Creation Through Investment Projects Implementation in Russian Fintech Industry." Russian Journal of Management 7, no. 3 (October 29, 2019): 11–15. http://dx.doi.org/10.29039/article_5db87fb7403e30.71574057.
Abstract:
Fintech firms have experienced phenomenal growth in value during the past several years. Many specialists would like to know the reasons for such success. In this article based on VBM methodology we will try to analyze four cases of successful investment projects from Russian fintech best practice of value creation from different market clusters (payment services, online services, IT outsourcing, banking).Lastly, there is a concluding section on the fintech firms most important value factors.
8
Manh, Pham Tien, Le Thi Bich Ngan, and Tran Anh Tuan. "THE DETERMINANTS OF USING FINTECH IN SERVICES OF LISTED SECURITIES FIRMS IN VIETNAM." Journal of Southwest Jiaotong University 57, no. 1 (February 28, 2022): 434–44. http://dx.doi.org/10.35741/issn.0258-2724.57.1.40.
Abstract:
Fintech and its applications have become a well-known topic in recent years, owing to the rapid advancement of technology in all parts of life. However, the use of fintech in securities firms is still a relatively new topic in academic areas. This research focuses on understanding the factors affecting the application of fintech in service activities at 22 listed securities firms in Vietnam in 2010-2021. By using the ordered logit regression, the authors find out that, the variables that affect the use of fintech in the services of securities companies including revenue from securities brokerage services; securities depository services revenue; total service revenue of securities company; brokerage services cost; securities depository services cost; financial advisory services cost; net services revenue and cost of securities firm; and market capitalization of those companies. The findings of this study are being used to make recommendations for securities firms striving to enhance their performance by adopting fintech into their operations.
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Li, Jianwei, Na Li, and Xiang Cheng. "The Impact of Fintech on Corporate Technology Innovation Based on Driving Effects, Mechanism Identification, and Heterogeneity Analysis." Discrete Dynamics in Nature and Society 2021 (December 22, 2021): 1–12. http://dx.doi.org/10.1155/2021/7825120.
Abstract:
Fintech relies on emerging technologies such as artificial intelligence and big data to bring a new business model to the financial system; can this new change promote corporate technological innovation? To explore this question, this paper examines the possible impact mechanism of Fintech on enterprise technological innovation based on the examination of the impact of Fintech on enterprise technological innovation through a panel fixed effects model, using A-share listed enterprises in Shanghai and Shenzhen markets in China from 2011–2019, and further explores whether there is heterogeneity in this impact among enterprises with different traits. The results show that Fintech development can significantly promote firm technological innovation and that Fintech can influence firm technological innovation through two mechanisms: alleviating firm financing constraints and providing market opportunities for firms to enhance their profitability. In addition, the driving effect of Fintech on technological innovation is more pronounced in new firms, state-owned enterprises, and nonborrowed and listed firms. Based on the conclusion, it is proposed that the government should enhance certain policy support for Fintech guided by emerging technologies such as artificial intelligence, help Fintech empower the real economy, and at the same time promote the deep integration of Fintech and real enterprises, especially to strengthen the identification of Fintech for new enterprises and encourage state-owned enterprises to implement employee stock ownership system, as well as sound market construction to reduce barriers to listing of high-quality enterprises, so as to improve innovation policy effectiveness and provide a reference for the mitigation of enterprise innovation problems in the new situation.
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Franco-Riquelme, José Nicanor, and Luis Rubalcaba. "Innovation and SDGs through Social Media Analysis: Messages from FinTech Firms." Journal of Open Innovation: Technology, Market, and Complexity 7, no. 3 (June 24, 2021): 165. http://dx.doi.org/10.3390/joitmc7030165.
Abstract:
Financial technology-based firms (FinTech) are crucial to promoting new technologies and advances in innovations related to the financial field, sustainable development, and financial inclusion. This paper aims to assess the Sustainable Development Goals (SDGs) and open innovation integrated within the public discourse in the social media of FinTech firms, using machine-learning-based social media analysis (SMA). Accordingly, we tracked the behavior of 21 firms based on the empirical material of 32,716 posts on Twitter. The outcomes showed dissimilar discourses based on FinTech firms’ activities. However, it was found that only financial infrastructure, lending, and personal finance fields have a discourse related to innovation and, to a lesser extent, related to the SDGs thematic. Thus, awareness of sustainable objectives is still far from being a relevant issue for FinTech, which, in general, has neglected to significantly mention SDGs; nonetheless, innovation and related terms are a consistent topic in this area. Furthermore, hints of the implementation of the open innovation paradigm and interest in novel technologies are demonstrated, in addition to the promotion of different actors and events on social media that serve as a showcase for firms that have a presence on Twitter.
Dissertations / Theses on the topic "Fintech firms":
1
Eckman, Lovisa, and Lundgren Philip. "How Do Fintech Firms Establish Themselves on The Financial Market? : A Qualitative Study of Swedish Fintech Firms." Thesis, Karlstads universitet, Handelshögskolan (from 2013), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-85486.
Abstract:
Over the last decade, the growth of new Fintech firms has increased significantly. However, when Fintech firms enter the financial market they are met by several obstacles, including the barriers erected by incumbent banks, difficulties obtaining financing and the challenge of gaining the trust of the market. This thesis aims to describe how Swedish Fintech firms work together with, or against, the incumbent banks, how they raise capital and what kind of challenges they experience when raising capital and how they work to gain the trust of potential investors, partners and customers. In this thesis it was found that Swedish Fintech firms do not close their doors to cooperation with the incumbent banks, as in exchange for helping the banks with their technology they can get access to banks' customer base and help with regards to costs. The Fintech firms did however think cooperation was less likely to happen if the incumbent banks did not open their mindset and make their processes more effective. Developing the banks’ technology is something the Fintech firms recognize that they can help with. When it comes to gaining the trust of the market, Fintech firms strive to deliver good customer experience, show earlier accomplishments and build legitimacy. The biggest challenge that Fintech firms encounter is the lack of having a known brand on the market and trying to build a name for themselves from scratch. It was found that most of the firms raise capital through private equity even if many of the interviewed firms raise capital as well through indebtedness. Challenges these firms encounter when it comes to raising capital is to mediate their true potential and vision to the investors and to find investors that can help the firm in more ways than just with monetary support. At the same time it was discovered that a few firms did not have any problem finding investors because of their already good network and experience.
2
Mesaros, Noémi, and Forsbäck Adriana Turunen. "A process of internationalization by digital born globals : ‘Case study on fintech companies’." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-388472.
Abstract:
Digital services have immeasurably transformed the world economy, and so people’s lives, over the past two decades. One industry where digitalization has been slower is the financial services. Nevertheless, this has changed in the past years with the emergence of fintech companies disrupting the traditional banks and payment solutions. Several studies have researched the internationalization process of digital born globals across different industries. However, due to how recent and emerging the fintech industry is, the area is understudied. To gain insight on the internationalization process of digital born globals within the fintech industry this study was based on an empirical multiple-case study including 4 fintech companies from Sweden and Finland. The main finding of this study is that fintech firms do not expand like other digital born globals but instead follow a more traditional, incremental internationalization process. We also observed that fintech companies used an online entry strategy initially allowing a fast entry process. In some cases, they also established offline presence. Overall, we hope to contribute to theory by giving insight on which factors that cause fintech companies to expand, how the internationalization process looks, how external partnerships might influence, and which challenges they might face.
3
Okudo, Melkizedeck S. "Scaling consumer fintech ventures : how firms seek to extend their initial technology advantage and capture value over time." Thesis, Massachusetts Institute of Technology, 2017. http://hdl.handle.net/1721.1/111447.
Abstract:
Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, 2017.Cataloged from PDF version of thesis.
Includes bibliographical references (pages 21-22).
The fintech sector has experienced intense interest from financial industry participants as the number of fintech start-ups has proliferated and robust growth statistics have prompted financial sector incumbents to respond with their own investments in the sector. As a result of the rapid increase in competition, innovators who have created value have found challenges to capture and deliver this value to end users with sustainable business models. This thesis presents the results of a study of the leading fintech firms using the lens of a value capture and value delivery framework. The framework reveals not only how these firms have successfully navigated through this challenging landscape, but also how they need to be aware of the evolving competitive dynamics over time. The insights presented have implications for potential entrants that seek to launch a consumer focused fintech firm. In particular, a review of the experiences of the most prominent fintech firms reveals how they have used technology to uncover under-served markets and have sought to differentiate themselves and extend their initial advantage by scaling and through strategic partnerships with incumbents.
by Melkizedeck S. Okudo.
M.B.A.
4
Monroy, Zambrano Katherine Estefania. "Internationalization of Financial Technology Start-ups (Fintechs) : Evidence from Ecuadorian case studies." Thesis, Linnéuniversitetet, Institutionen för marknadsföring (MF), 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-96022.
Abstract:
In the past decade, the financial industry has been criticized to lack a faster digital transformation to provide more efficient services, where FinTech (a neologism generated from the contraction of “(Fin)ancial” and “(Tech)nology”) start-ups or fintechs represent a paradigm shift to reinvent the industry. FinTech is gaining attention in multiple academic disciplines, however, it was found that it has been neglected from the international business discipline to understand the internationalization process of fintechs. Furthermore, as the financial industry is an important cornerstone to foster economic growth and social welfare, particularly in the context of Latin American emerging countries, lack of studies in this context also motivated the development of this thesis. The purpose of this study is to accommodate FinTech in the international business discipline drawing from network theory and born-digital firms’ characteristics, emphasizing on core activities within the digital value chain to analyze the internationalization process and identify the main challenges. A conceptual framework was developed to analyze the internationalization process of Ecuadorian fintechs and the challenges faced. The research has a qualitative approach, employing multiple case studies strategy, where semi-structured interviews with founders and senior managers of four Ecuadorian fintechs were conducted. Empirical findings showed that despite having a high digital value chain and take advantage of internet technologies to internationalize faster, Ecuadorian fintechs followed a gradual regional expansion within Latin American countries and their internationalization process was mostly network-driven. Furthermore, besides the most prominent internationalization challenges such as liabilities of outsidership (LoO) and institutional regulations, additional resource-related internationalization challenges were found such as funding, skilled IT talents and innovation, which raise the importance to emphasize in such challenges for further research.
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Клімашевська, О. Д. "Роздрібний бізнес банків в умовах розвитку фінансових технологій." Thesis, Одеський національний економічний університет, 2021. http://local.lib/diploma/Klimashevska.pdf.
Abstract:
Доступ до роботи тільки на території бібліотеки ОНЕУ, для переходу натисніть на посилання нижчеУ роботі визначено зміст поняття «роздрібний бізнес банків». Охарактеризовано сутність та проведено класифікацію фінансових технологій. Надано характеристику законодавчого регулювання у сфері роздрібного бізнесу та фінансових технологій. Проаналізовано передумови та тенденції розвитку роздрібного бізнесу в банківському секторі України. Надано порівняльну оцінку конкуренції та конкурентних переваг на роздрібному ринку України. Надано оцінку фінансових технологій у роздрібному сегменті банківського бізнесу. Обґрунтовано чинники, які впливають на показник віддачі капіталу банків. Проведено аналіз впливу розвитку фінансових технологій на прибутковість банків: світовий досвід. Обґрунтувано перспективні напрями розвитку роздрібного бізнесу в Україні.
The content of the concept of "retail business of banks" is defined in the work. The essence and classification of financial technologies are characterized. The characteristic of legislative regulation in the field of retail business and financial technologies is given/ The preconditions and tendencies of retail business development in the banking sector of Ukraine are analyzed. A comparative assessment of competition and competitive advantages in the retail market of retail business of Ukrainian banks is given. An assessment of financial technologies in the retail segment of the banking business is given. The factors influencing the rate of return on banks' capital are substantiated. An analysis of the impact of the development of financial technologies on the profitability of banks: world experience. Perspective directions of retail business development in Ukraine are substantiated.
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Collin, Erik, and Gustav Juntti. "No protection, nu business : An event study on stock volatility reactions to cyberattacks between 2010 and 2015 for firms listed in the USA." Thesis, Umeå universitet, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-123549.
Abstract:
With the surge of Internet-based corporate communication, organization, andinformation management, financial markets have undergone radical transformation. Inthe interconnected economy of today, market participants are forced to acceptcyberattacks, data breaches, system failures, or security flaws as any other (varying)cost of doing business. While cyberspace encompasses practically any firm indeveloped economies and a large portion in developing ones, combatting such risks isdeemed a question of firm-specific responsibility: the situation resembles an ‘every manfor himself’ scenario. Consulting standard financial theory, rational utility-maximizinginvestors assume firm-specific (idiosyncratic) risk under expectations of additionalcompensation for shouldering such risk – they are economically incentivized. The omnipresence of cyberattacks challenges fundamental assumptions of the CapitalAsset Pricing Model, Optimal Portfolio Theory, and the concept of diversifiability. Thethesis problematizes underlying rationality notions by investigating the effect of acyberattack on stock volatility. Explicitly, the use of stock volatility as a proxy for riskallows for linking increased volatility to higher risk premiums and increased cost ofcapital. In essence, we investigate the following research question: What is the effect ofa disclosed cyberattack on stock volatility for firms listed in the USA?. Using event study methodology, we compile a cyberattack database for events between2010 and 2015 involving 115 firms listed on US stock exchanges. The specified timeperiod cover prevailing research gaps; due to literature paucity the focus on volatilityfits well. For a finalized sample of 189 events, stock return data is matched to S&P500index return data within a pre-event estimation window and a post-event window tocalculate abnormal returns using the market model. The outputs are used to estimateabnormal return volatility before and after each event; testing pre and post volatilityagainst each other in significance tests then approximates the event-induced volatility.Identical procedures are performed for all subsamples based on time horizon, industrybelonging, attack type, firm size, and perpetrator motivation. The principal hypothesis, that stock volatility is significantly higher after a cyberattack,is found to hold within both event windows. Evidence on firm-specific characteristics ismore inconclusive. In the long run, inaccessibility and attacks on smaller firms seem torender significantly larger increases in volatility compared to intrusion and attacks onlarger firms; supporting preexisting literature. Contrastingly, perpetrator motive appearsirrelevant. Generally, stocks are more volatile immediately after an attack, attributableto information asymmetry. For most subsamples volatility seem to diminish with time,following the Efficient Market Hypothesis. Summing up, disparate results raisequestions of the relative importance of contingency factors, and also about futuredevelopments within and outside academic research.
7
Zheng, Xiang. "Three Essays in Fintech and Corporate Finance:." Thesis, Boston College, 2021. http://hdl.handle.net/2345/bc-ir:109077.
Abstract:
Thesis advisor: Thomas ChemmanurMy Ph.D. dissertation consists of three essays. The first essay studies the economic consequence of the current patent screening process on firm performance using a machine-learning approach. Using USPTO patent application data, I apply a machine-learning algorithm to analyze how the current patent examination process in the U.S. can be improved in terms of granting higher quality patents. I make use of the quasi-random assignment of patent applications to examiners to show that screening decisions aided by a machine learning algorithm lead to a 15.5% gain in patent generality. To analyze the economic consequences of current patent screening on both public and private firms, I construct an ex-ante measure of past false acceptance rate for each examiner by exploiting the disagreement in patent screening decisions between the algorithm and current patent examiner. I first show that patents granted by examiners with higher false acceptance rates have lower announcement returns around patent grant news. Moreover, these patents are more likely to expire early. Next, I find that public firms whose patents are granted by such examiners are more likely to get sued in patent litigation cases. Consequently, these firms cut R&D investments and have worse operating performance. Lastly, I find that private firms whose patents are granted by such examiners are less likely to exit successfully by an IPO or an M&A. Overall, this study suggests that the social and economic cost of an inefficient patent screening system is large and can be mitigated with the help of a machine learning algorithm. The second essay studies how investor attention affects various aspects of SEOs. Models of seasoned equity offerings (SEOs) such as Myers and Majluf (1984) assume that all investors in the economy pay immediate attention to SEO announcements and the pricing of SEOs. In this paper, we analyze, theoretically and empirically, the implications of only a fraction of investors in the equity market paying immediate attention to SEO announcements. We first show theoretically that, in the above setting, the announcement effect of an SEO will be positively related to the fraction of investors paying attention to the announcement and that there will be a post-announcement stock-return drift that is negatively related to investor attention. In the second part of the paper, we test the above predictions using the media coverage of firms announcing SEOs as our main proxy for investor attention, and find evidence consistent with the above predictions. In the third part of the paper, we develop and test various hypotheses relating investor attention paid to an issuing firm to various SEO characteristics. We empirically show that institutional investor participation in SEOs, the post-SEO equity market valuation of firms, SEO underpricing, and SEO valuation are all positively related to investor attention. Lastly, we also use the number of SEC EDGAR file downloads as an alternative proxy for investor attention, and our findings are robust to this alternative investor attention measure. The results of our identification tests show that the above results are causal. The third essay studies how the location of a lead underwriter in its network of investment banks affects various aspects of seasoned equity offerings (SEOs). We hypothesize that investment banking networks perform an important economic role in the SEO underwriting process for SEOs, namely, that of information dissemination, where the lead underwriter uses its investment banking network to disseminate information about the SEO firm to institutional investors. Consistent with the above information dissemination role, we show that firms whose SEOs are underwritten by more central lead underwriters are associated with a smaller extent of information asymmetry in the equity market. We then develop testable hypotheses based on the information dissemination role of underwriter networks for the relationship between SEO underwriter centrality and various SEO characteristics, which we test in our empirical analysis. Consistent with the above hypotheses, we find that more central lead SEO underwriters are associated with less negative SEO announcement effects; smaller SEO offer price revisions; smaller SEO discounts and underpricing; higher immediate post-SEO equity valuations for issuing firms; and greater post-SEO long-run stock returns for issuing firms. We also find that SEOs with more central lead underwriters are associated with greater institutional investor participation. Our instrumental variable (IV) analysis using the industry-average bargaining power of underwriters relative to issuers as the instrument shows that the above results are causal. Consistent with greater value creation by more central lead underwriters, we find that more central lead underwriters receive greater compensation
Thesis (PhD) — Boston College, 2021
Submitted to: Boston College. Carroll School of Management
Discipline: Finance
8
Kommalur, Mithun. "The impact of disruptive financial technology (fintech) on emerging markets with a focus on the Interaction between incumbents and new firms: an In-depth analysis of the Indian fintech market." Master's thesis, 2018. http://hdl.handle.net/10362/53052.
9
Shih, Po Jung, and 施柏榮. "The Effects of Fintech on Firm Performance." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/abv5a3.
10
CHANG, WEI-SYUAN, and 張瑋瑄. "The Impact of Venture Capital Firm Network on Investee Valuation : Evidences from the Fintech Industry." Thesis, 2019. http://ndltd.ncl.edu.tw/handle/vv49wm.
Abstract:
碩士國立中正大學
財務金融系研究所
107
This research mainly examines the impact of VCs network on investee valuation. Our research samples are companies in the US financial technology industry. Most companies in this emerging industry are in their early stage of development. In order to measure the performance of companies in the early stage, this research adopts the growth rate of the investee valuation as the companys performance indicator for the startups. The results show that the companies backed by better-networked VCs are significantly more likely to have a higher valuation growth rate. However, the networking stability of VCs have no significant relationship with the startup’s valuation growth rate.
Books on the topic "Fintech firms":
1
Ferrarini, Guido, and Eugenia Macchiavello. FinTech and Alternative Finance in the CMU. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198813392.003.0010.
Abstract:
This chapter focuses on FinTech, which offers firms and individuals new ways for accessing alternative sources of finance. It first examines the main types of alternative finance which technology has helped to develop and could further complement the traditional markets, focusing on marketplace investing and its perspectives in Europe. It then analyzes financial return crowdfunding as an application of marketplace investing; its main business models, such as investment-based and loan-based crowdfunding; and the risks and benefits deriving from them. Next, it compares the different regulatory models applicable to crowdfunding at EU and member states' levels, distinguishing between the traditional approach, which extends existing banking or financial regulation to these new sectors, and the ‘innovative’ approach contemplating ad hoc regimes for crowdfunding. The final section suggests a tailored policy approach to marketplace investing in the Capital Markets Union.
2
Skinner, Chris. Valueweb: How Fintech firms are using mobile and blockchain technologies to create the Internet of Value. 2016.
3
Sylla, Richard. New York. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198817314.003.0002.
Abstract:
New York, the epicentre of the 2007–9 Global Financial Crisis, during the ensuing decade regained much of its pre-Crisis stature as a pre-eminent international financial centre. Its advantages going forwards include the huge US Treasury debt market, the dollar as the leading reserve currency, the Federal Reserve System as a de facto world central bank, a stronger US banking system, and the world’s largest securities markets which list and trade leading US-based companies and many corporations based in other countries. Congress’s 2010 Dodd–Frank Act reduced systemic financial risks, but also contained regulatory overkill that is gradually being modified; attempts to repeal or replace Dodd–Frank appear unlikely to succeed. Fintech represents both an opportunity—more efficient financial services—and a threat—reduced profits—for New York financial firms, which will most probably incorporate fintech innovations into their business models. For New York, Brexit is more of an opportunity than a threat.
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Lai, Karen P. Y. Singapore. Oxford University Press, 2018. http://dx.doi.org/10.1093/oso/9780198817314.003.0008.
Abstract:
This chapter examines the spatial and temporal dynamics shaping the development of financial markets and activities to account for the rise of Singapore as an international financial centre (IFC). The analysis draws upon the preceding 1997 Asian financial crisis as industry changes and policy response back then set the stage for subsequent industry shifts, which have shaped the responses and impacts of firms, regulators, and consumers following the 2008 Global Financial Crisis. Key industry shifts include banking liberalization and changing forms of financial consumption in Singapore. The growing prominence of financial markets and emerging sectors, such as Islamic banking and finance (IBF) and offshore renminbi (RMB), and fintech are also examined in terms of their importance for Singapore’s future role as an IFC.
Book chapters on the topic "Fintech firms":
1
Lemma, Valerio. "Fintech Firms." In FinTech Regulation, 299–361. Cham: Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-42347-6_6.
2
Van Uytsel, Steven. "Horizontal Shareholding Among Fintech Firms in Asia: A Preliminary Competition Law Assessment." In Regulating FinTech in Asia, 177–203. Singapore: Springer Singapore, 2020. http://dx.doi.org/10.1007/978-981-15-5819-1_10.
3
Najaf, Khakan, Alice Chin, and Rabia Najaf. "Conceptualising the Corporate Governance Issues of Fintech Firms." In The Fourth Industrial Revolution: Implementation of Artificial Intelligence for Growing Business Success, 187–97. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-62796-6_10.
4
LoBue, Robert M. "Start-Up Investor Governance Case." In Management for Professionals, 9–13. Cham: Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-48606-8_3.
Abstract:
AbstractIn the current age of innovative business financing opportunities available from fintech apps, social media crowdfunding sites such as Kickstarter, Indiegogo, and RocketHub, et.al., and friends and family private equity investors, start-up firms can strategically source their venture capital funds from many globally disperse organizations and individuals. As the firm in this case learned, the benefit of alternative investing sources comes with a critical hidden risk for corporate governance. After a financial restructuring, a typical Silicon Valley software start-up found itself with close to 300 external individual shareholders, some of whom had not been documented as accredited investors. The regulatory agency could decide that the prior actions of the founders and the decisions of the board had been prejudicial to the interests of the minority investors. The management of this small private company faced an atypical investor relations dilemma, before its initial public offering (IPO).
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Srnec, Cynthia, and Philippe Eynaud. "When Cooperative Banks Are Dealing with One Cooperative Fintech Firm: What Can We Learn from the Sociology of Markets?" In Contemporary Trends in European Cooperative Banking, 119–41. Cham: Springer International Publishing, 2022. http://dx.doi.org/10.1007/978-3-030-98194-5_6.
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De Pascalis, Francesco. "FinTech credit firms." In Routledge Handbook of Financial Technology and Law, 119–37. Routledge, 2021. http://dx.doi.org/10.4324/9780429325670-7.
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Adams-Bhatti, Sophia, and Tara Chittenden. "THE INNOVATION PROCESS IN LAW FIRMS." In FinTech, 396–417. Edward Elgar Publishing, 2019. http://dx.doi.org/10.4337/9781788979023.00033.
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Adams-Bhatti, Sophia. "THE INNOVATION PROCESS IN LAW FIRMS." In FinTech, 440–69. Edward Elgar Publishing, 2021. http://dx.doi.org/10.4337/9781800375956.00031.
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Ali, Mohammed. "Understanding the Impact of FinTechs on Service Innovation on the Future Sustainability of Global Business." In Remote Work and Sustainable Changes for the Future of Global Business, 45–59. IGI Global, 2021. http://dx.doi.org/10.4018/978-1-7998-7513-0.ch004.
Abstract:
The availability of FinTechs has greatly proliferated in recent years, and this has caused an uptick in FinTech research in the finance field. Despite the recent surge in popularity of FinTech, there is still a severe lack of research on FinTech companies, particularly through the sociotechnical lens or the relation between the users or stakeholders associated with FinTechs and FinTech technology itself. This chapter aimed to fill this void by examining the world of FinTech and innovation in the financial services industry through a socio-technical lens by examining secondary data, such as reports from consulting firms. This provides a better understanding of the social, technological, and organisational actors involved in the development of FinTech ecosystems, in addition to the dynamics of the evolution of FinTech ecosystems and their outcomes as a result of service innovation.
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Campbell, Tessa, Matthew Wayne Knox, Josh Rowlands, Zi-Ying Anna Cui, and Luke DeJesus. "Leadership in FinTech." In Fostering Innovation and Competitiveness With FinTech, RegTech, and SupTech, 250–70. IGI Global, 2021. http://dx.doi.org/10.4018/978-1-7998-4390-0.ch013.
Abstract:
This chapter discusses the intricacies of innovation and competitive advantage, the current leadership gap within FinTech firms, and how these occurrences are enabled and improved through the utilization of authentic leadership practices within the context of the FinTech industry. Following this discussion, the authors observe the future research directions and potential areas of exploration in which other scholars may divulge. Through the exploration of our research question, “How can authentic leadership behaviors enable innovation and competitive advantage in FinTech firms?” they found the importance of authentic leadership within any industry or organization may be enhanced and explored further, as it appears to have a positive impact on innovation within organizations which in turn has the potential to provide a variety of opportunities for growth and competitive advantage.
Conference papers on the topic "Fintech firms":
1
De-Miguel-Molina, Blanca, Maryi Cadrazco-Suárez, Jorge Juliao-Rossi, and Carlos Rincón-Díaz. "Financial inclusion of small firms: informality, fintech solutions, and voids." In 3rd International Conference. Business Meets Technology. Valencia: Editorial Universitat Politècnica de València, 2021. http://dx.doi.org/10.4995/bmt2021.2021.13654.
Abstract:
This chapter analyses the relationship between institutional voids, the informality of small firms, and their financial inclusion in Colombia. Data for the analysis were obtained from a dataset available at DANE, which includes a sample of 86,969 small firms in Colombia and 2,467 in the Bogotá region. Descriptive analyses and a tree decision classification were conducted to obtain segments of entrepreneurs in the financial market, predict the formality of small firms, and analyse voids related to digital skills that might limit the solutions based on fintech. Results indicated that entrepreneurs less willing to demand credits represent the current largest segment, that formality and financial inclusion of small firms go hand in hand, and that digital skills might be a limitation for the extension of solutions based on fintech. The analyses allowed for identifying problems and solutions before conducting qualitative analyses with entrepreneurs.
2
Tóth, Tibor. "The Effects of COVID-19 on the Digital Transformation of the Hungarian Banking Sector." In New Horizons in Business and Management Studies. Conference Proceedings. Corvinus University of Budapest, 2021. http://dx.doi.org/10.14267/978-963-503-867-1_06.
Abstract:
When choosing the topic, I tried to focus on dealing with such a current and ongoing event, we still don’t see the result, and I just find where it develops in three, five, or ten years. Digitization affects all segments and industries to varying degrees, and its impact can be widely demonstrated. Besides, the precarious economic situation resulting from the COVID-19 epidemic further complicates the situation. I found the topic relevant because I am dealing with a phenomenon, a dilemma that directly or indirectly affects everyone and can be useful to a wider audience. During the dissertation, I try to answer the following questions: How does COVID-19 affect the process of digital transformation in the Hungarian banking sector? And how does this affect the collaboration strategies of banks and FinTech companies? In my work, I rely mainly on previous publications and articles by international, prominent researchers. Also, I conducted interviews with Hungarian experts who are currently actively working for Hungarian banks. During the selection of the interviewees, I followed the concept of asking the employees of different financial institutions working at different levels for the most comprehensive picture. In terms of methodology, in addition to processing the interviews and evaluating the literature, I tried to collect and analyze surveys and public data from various commercial banks, regulatory bodies, and major consulting firms. In this article, I have collected trends that have influenced the current state of the banking sector and present the operating environment. In addition to the positive and negative factors influencing the relationship between domestic commercial banks and FinTech companies, I outline a possible scenario for a future digitization strategy for the banking sector. This exploratory research aims to examine the situation and to identify the most important variables and correlations.
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Bedjeti Baftijari, Artina, and Leonid Nakov. "AN OVERVIEW ON MANAGING CHANGES FOR BANK RISKS IN TIMES OF FINTECH (R)EVOLUTION: A CHALLENGE OR OPPORTUNITY?" In Economic and Business Trends Shaping the Future. Ss Cyril and Methodius University, Faculty of Economics-Skopje, 2020. http://dx.doi.org/10.47063/ebtsf.2020.0025.
Abstract:
Most of the economic activities are becoming highly digital. In the past several years changes in the technological improvements and financial innovations had an enormous impact on the modern financial system. Worldwide, the banking industry has changed and integrated the financial technology (FinTech) in its everyday routine. Nowadays, for some financial members FinTech provides a big threat and a challenge for the traditional banking, while for some others it provides an opportunity for more flexibility, better service functionality and higher service quality. Overall, banks adopt innovations to satisfy customers’ demands, despite the risks and challenges imposed from FinTech and new financial product development (NFPD). In general banks benefit from opportunities of the new product development in the aspect of allocating more efficiently the resources, reduction in transaction costs, promotion, revenue growth and profitability. The aim and objective of this paper is to identify and evaluate the main risks related to development of FinTech and financial innovations that banks are exposed to (on micro and macro level), and to provide recommendations on the reduction of those risks and controlling them. Based on literature review, researches proved that one of the major obstacle to firm`s innovativeness is the negative impact of the new financial product development on banking risks. It is recommended that in times of technological boom commercial banks should invest their available funds in suitable techniques for successfully accepting new financial product development.
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Antonius Alijoyo, Franciskus. "The Risk Management Maturity Assessment: The Case of Indonesian Fintech Firm." In 4th International Conference on Research in Management and Economics. ACAVENT, 2021. http://dx.doi.org/10.33422/4th.imeconf.2021.05.21.
Reports on the topic "Fintech firms":
1
Finkelstein-Shapiro, Alan, Federico S. Mandelman, and Victoria Nuguer. Fintech Entry, Firm Financial Inclusion, and Macroeconomic Dynamics in Emerging Economies. Inter-American Development Bank, January 2022. http://dx.doi.org/10.18235/0003918.
Abstract:
Financial inclusion is strikingly low in emerging economies. In only a few years, financial technologies (fintech) have led to a dramatic expansion in the number of non-traditional credit intermediaries, but the macroeconomic and credit-market implications of this rapid growth of fintech are not known. We build a model with a traditional banking system and endogenous fintech intermediary creation and find that greater fintech entry delivers positive long-term effects on aggregate output and consumption. However, greater entry bolsters aggregate firm financial inclusion only if it stems from lower barriers to accessing fintech credit by smaller, unbanked firms. Decreasing entry costs for fintech intermediaries alone has only marginal effects in the aggregate. While firms that adopt fintech credit are less sensitive to domestic financial shocks and contribute to a reduction in output volatility, greater fintech entry also leads to greater volatility in bank credit, thereby introducing a tradeoff between output volatility and credit-market volatility.
2
Chen, Maggie, and Christian Volpe Martincus. Digital Technologies and Globalization: A Survey of Research and Policy Applications. Inter-American Development Bank, March 2022. http://dx.doi.org/10.18235/0004117.
Abstract:
In recent years, the world has witnessed the rise of multiple specific digital technologies, including online trade platforms, robotics, artificial intelligence (AI), 3D printing, cloud computing, blockchain, and financial technology (fintech). These digital technologies are fundamentally transforming the ways that firms and individualsas both workers and consumerscommunicate, search, trade, and invest. They are also substantially changing how governments design and implement trade and investment policies and programs and, in so doing, how they interact with firms, individuals, and each other. This paper reviews the growing empirical literature on the trade, investment, and broader development effects of the adoption of specific digital technologies. It also describes the policy applications of these technologies and discusses the incipient empirical literature on the impacts thereof. Based on this review, it identifies several open questions and avenues of future research that may be useful for deepening our understanding of digital technologies and their policy implications.
3
León, Carlos. The dawn of a mobile payment scheme: The case of Movii. Banco de la República, March 2021. http://dx.doi.org/10.32468/be.1157.
Abstract:
Mobile wallets replicate physical wallets on a mobile device, in which users can store different payment instruments (e.g., cards, transfers) to make mobile payments. As the mobile wallet is adopted, a mobile payment scheme emerges, with its users as elements in a network of transfers. In this article, I study the mobile payment scheme of Movii— the first fintech firm in Colombia operating under a financial non-banking license for electronic deposits and payments. Based on a unique dataset of bilateral transfers between Movii’s mobile wallet users, I build, visualize and analyze Movii’s network, daily from November 18, 2017, to November 25, 2020. Besides the anticipated increase in the number of users and the value of transfers, the visual and quantitative complexity of the network of transfers increases over time. This increase in complexity is likely to be linked to the adoption of Movii’s mobile wallet, which results in users finding new ways to use mobile payments beyond person-to-person transfers, including person-to-business and business-to-business. Also, results suggest the Covid-19 pandemic accelerated the evolution of Movii’s mobile payments scheme.