Merello Giménez, P.; Barbera, A.; De La Poza, E. (2022). Is the sustainability profile of FinTech companies a key driver of their value?. Technological Forecasting and Social Change. 174:1-11. https://doi.org/10.1016/j.techfore.2021.121290
Por favor, use este identificador para citar o enlazar este ítem: http://hdl.handle.net/10251/184792
Title:
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Is the sustainability profile of FinTech companies a key driver of their value?
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Author:
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Merello Giménez, Paloma
Barbera, Antonio
De la Poza, Elena
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UPV Unit:
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Universitat Politècnica de València. Departamento de Economía y Ciencias Sociales - Departament d'Economia i Ciències Socials
Universitat Politècnica de València. Instituto Universitario de Matemática Multidisciplinar - Institut Universitari de Matemàtica Multidisciplinària
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Issued date:
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Abstract:
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[EN] The digitisation process is affecting all markets and raising consumer awareness about companies' sustainable behaviour. This work studies the effect of the sustainability profile of FinTech companies on the firm ...[+]
[EN] The digitisation process is affecting all markets and raising consumer awareness about companies' sustainable behaviour. This work studies the effect of the sustainability profile of FinTech companies on the firm (market value and book value) as the factors that add value to investors and motivate their evolution in markets are still unknown. Using the KBW and Nasdaq FinTech Indices, and the NASDAQ Insurance Index (IXIS), we composed a panel of 95 companies over a 10-year period (2010-2019) with economic-financial variables and data about green certificates and sustainability indices. The applied methodology is based on dynamic (GMM-SYS) and static (PCSE) panel data models. Our results show that the market value of FinTech companies is positively driven by an CSR report being issued, the position in the CSR RepTrak, company size and board size. In contrast, the number of green certificates, particularly their position in the Green Ranking, is negatively related to their market value. Surprisingly in the most transparent companies, the direction of the variables effect evidenced for the book value per share is the opposite to market capitalisation.
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Subjects:
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Sustainability
,
Fintech
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Insurtech
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GMM
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Panel data
,
Endogeneity
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Copyrigths:
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Reconocimiento - No comercial - Sin obra derivada (by-nc-nd)
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Source:
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Technological Forecasting and Social Change. (issn:
0040-1625
)
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DOI:
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10.1016/j.techfore.2021.121290
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Publisher:
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Elsevier
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Publisher version:
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https://doi.org/10.1016/j.techfore.2021.121290
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Project ID:
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info:eu-repo/grantAgreement/AEI/Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020/PID2020-117792RA-I00/ES/DINAMICAS DE DECISION NO RACIONALES: LA ECONOMIA DEL COMPORTAMIENTO EN LA INFORMACION FINANCIERA Y NO FINANCIERA/
info:eu-repo/grantAgreement/EIT//APRS0008_2017-2.1.1-652_P066-09 yAREC0017_2017-1.6//Advanced business models for climate- friendly technologies and innovation/
info:eu-repo/grantAgreement/ASSOCIATION CLIMATE KIC//APRS0007_2016_2.1.1-309_P66-11//BUSINES MODELS FOR CLIMATE TECHNOLOGIES AND INNOVATION/
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Thanks:
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this work has been partially supported by the Spanish Ministry of Science and Innovation under the research project PID2020-117792RA-I00
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Type:
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Artículo
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