Is the sustainability profile of FinTech companies a key driver of their value?

[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...

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Autores: Merello Giménez, Paloma, Barbera, Antonio, De la Poza, Elena|||0000-0003-2303-0811
Formato: artículo
Fecha de publicación:2022
País:España
Recursos:Universitat Politècnica de València (UPV)
Repositorio:RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
Idioma:inglés
OAI Identifier:oai:riunet.upv.es:10251/184792
Acesso em linha:https://riunet.upv.es/handle/10251/184792
Access Level:acceso abierto
Palavra-chave:Sustainability
Fintech
Insurtech
GMM
Panel data
Endogeneity
ECONOMIA FINANCIERA Y CONTABILIDAD
08.- Fomentar el crecimiento económico sostenido, inclusivo y sostenible, el empleo pleno y productivo, y el trabajo decente para todos
10.- Reducir las desigualdades entre países y dentro de ellos
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repository_id_str
spelling Is the sustainability profile of FinTech companies a key driver of their value?Merello Giménez, PalomaBarbera, AntonioDe la Poza, Elena|||0000-0003-2303-0811SustainabilityFintechInsurtechGMMPanel dataEndogeneityECONOMIA FINANCIERA Y CONTABILIDAD08.- Fomentar el crecimiento económico sostenido, inclusivo y sostenible, el empleo pleno y productivo, y el trabajo decente para todos10.- Reducir las desigualdades entre países y dentro de ellos[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.this work has been partially supported by the Spanish Ministry of Science and Innovation under the research project PID2020-117792RA-I00ElsevierFacultad de Administración y Dirección de EmpresasDepartamento de Economía y Ciencias SocialesCentro de Investigación de Ingeniería EconómicaEuropean Institute of Innovation and TechnologyEIT Climate-KICAgencia Estatal de InvestigaciónRepositorio Institucional de la Universitat Politècnica de València Riunet20222022-01-01journal articlehttp://purl.org/coar/resource_type/c_6501VoRhttp://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/articleapplication/pdfapplication/pdfhttps://riunet.upv.es/handle/10251/184792reponame:RiuNet. Repositorio Institucional de la Universitat Politécnica de Valénciainstname:Universitat Politècnica de València (UPV)InglésengAgencia Estatal de Investigación http://dx.doi.org/10.13039/501100011033 Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020 PID2020-117792RA-I00 DINAMICAS DE DECISION NO RACIONALES: LA ECONOMIA DEL COMPORTAMIENTO EN LA INFORMACION FINANCIERA Y NO FINANCIERAEuropean Institute of Innovation and Technology EIT APRS0008_2017-2.1.1-652_P066-09 yAREC0017_2017-1.6 Advanced business models for climate- friendly technologies and innovationEIT Climate-KIC EIT Climate-KIC APRS0007_2016_2.1.1-309_P66-11 BUSINES MODELS FOR CLIMATE TECHNOLOGIES AND INNOVATIONopen accesshttp://purl.org/coar/access_right/c_abf2Reconocimiento - No comercial - Sin obra derivada (by-nc-nd) http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:riunet.upv.es:10251/1847922026-06-13T07:49:27Z
dc.title.none.fl_str_mv Is the sustainability profile of FinTech companies a key driver of their value?
title Is the sustainability profile of FinTech companies a key driver of their value?
spellingShingle Is the sustainability profile of FinTech companies a key driver of their value?
Merello Giménez, Paloma
Sustainability
Fintech
Insurtech
GMM
Panel data
Endogeneity
ECONOMIA FINANCIERA Y CONTABILIDAD
08.- Fomentar el crecimiento económico sostenido, inclusivo y sostenible, el empleo pleno y productivo, y el trabajo decente para todos
10.- Reducir las desigualdades entre países y dentro de ellos
title_short Is the sustainability profile of FinTech companies a key driver of their value?
title_full Is the sustainability profile of FinTech companies a key driver of their value?
title_fullStr Is the sustainability profile of FinTech companies a key driver of their value?
title_full_unstemmed Is the sustainability profile of FinTech companies a key driver of their value?
title_sort Is the sustainability profile of FinTech companies a key driver of their value?
dc.creator.none.fl_str_mv Merello Giménez, Paloma
Barbera, Antonio
De la Poza, Elena|||0000-0003-2303-0811
author Merello Giménez, Paloma
author_facet Merello Giménez, Paloma
Barbera, Antonio
De la Poza, Elena|||0000-0003-2303-0811
author_role author
author2 Barbera, Antonio
De la Poza, Elena|||0000-0003-2303-0811
author2_role author
author
dc.contributor.none.fl_str_mv Facultad de Administración y Dirección de Empresas
Departamento de Economía y Ciencias Sociales
Centro de Investigación de Ingeniería Económica
European Institute of Innovation and Technology
EIT Climate-KIC
Agencia Estatal de Investigación
Repositorio Institucional de la Universitat Politècnica de València Riunet
dc.subject.none.fl_str_mv Sustainability
Fintech
Insurtech
GMM
Panel data
Endogeneity
ECONOMIA FINANCIERA Y CONTABILIDAD
08.- Fomentar el crecimiento económico sostenido, inclusivo y sostenible, el empleo pleno y productivo, y el trabajo decente para todos
10.- Reducir las desigualdades entre países y dentro de ellos
topic Sustainability
Fintech
Insurtech
GMM
Panel data
Endogeneity
ECONOMIA FINANCIERA Y CONTABILIDAD
08.- Fomentar el crecimiento económico sostenido, inclusivo y sostenible, el empleo pleno y productivo, y el trabajo decente para todos
10.- Reducir las desigualdades entre países y dentro de ellos
description [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.
publishDate 2022
dc.date.none.fl_str_mv 2022
2022-01-01
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
VoR
http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://riunet.upv.es/handle/10251/184792
url https://riunet.upv.es/handle/10251/184792
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.relation.none.fl_str_mv Agencia Estatal de Investigación http://dx.doi.org/10.13039/501100011033 Plan Estatal de Investigación Científica y Técnica y de Innovación 2017-2020 PID2020-117792RA-I00 DINAMICAS DE DECISION NO RACIONALES: LA ECONOMIA DEL COMPORTAMIENTO EN LA INFORMACION FINANCIERA Y NO FINANCIERA
European Institute of Innovation and Technology EIT APRS0008_2017-2.1.1-652_P066-09 yAREC0017_2017-1.6 Advanced business models for climate- friendly technologies and innovation
EIT Climate-KIC EIT Climate-KIC APRS0007_2016_2.1.1-309_P66-11 BUSINES MODELS FOR CLIMATE TECHNOLOGIES AND INNOVATION
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Reconocimiento - No comercial - Sin obra derivada (by-nc-nd)
http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Reconocimiento - No comercial - Sin obra derivada (by-nc-nd)
http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
instname:Universitat Politècnica de València (UPV)
instname_str Universitat Politècnica de València (UPV)
reponame_str RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
collection RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15.300724

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