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FinTech, Volume 2, Issue 2 (June 2023) – 8 articles

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30 pages, 4169 KiB  
Article
The Case for RFID-Enabled Traceability in Cash Movements
by Lance Decker and Ben Zoghi
FinTech 2023, 2(2), 344-373; https://doi.org/10.3390/fintech2020020 - 16 Jun 2023
Cited by 2 | Viewed by 1301
Abstract
Cash movements between banks and customers are often conducted through armored courier services. These armored couriers are hesitant to adopt new technologies because the business’s nature requires well-documented custody transfers of cash bags. Often, these transfers are still based on paper receipts. The [...] Read more.
Cash movements between banks and customers are often conducted through armored courier services. These armored couriers are hesitant to adopt new technologies because the business’s nature requires well-documented custody transfers of cash bags. Often, these transfers are still based on paper receipts. The researchers believe that using radio frequency identification (RFID) and an application programming interface (API) between all parties in the cash management ecosystem reduces cost, improves efficiency, and increases capacity. To alleviate the hesitancy of armored couriers, a simulation model is made that operates much like an existing 45-vehicle branch. Once the model was validated, changes were made to the model to adopt the API interfaces and RFID systems required. In addition, an RFID-based sorting robot was implemented. A comparison focused on the workforce utilization of armored vehicle crews and branch tellers. As expected, the resulting model significantly reduces staffing requirements, improves efficiency, and increases capacity. The operational behaviors of tellers were reduced by 79%, and truck route durations were reduced by 43%. The expectation is that this research will help armored couriers see the advantages of adopting such a system and spur additional investigation of the solution. Finally, the cost of the system and operational savings were put into a return on investment/payback period calculation, revealing an annual savings of approximately USD 2.2 million after a one-year payback period. Full article
(This article belongs to the Special Issue Research on Corporate Finance and Financial Economics)
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17 pages, 962 KiB  
Article
The Policies, Practices, and Challenges of Digital Financial Inclusion for Sustainable Development: The Case of the Developing Economy
by Godfred Anakpo, Zizipho Xhate and Syden Mishi
FinTech 2023, 2(2), 327-343; https://doi.org/10.3390/fintech2020019 - 1 Jun 2023
Cited by 6 | Viewed by 7117
Abstract
Globally, over 1.4 billion adult people remain unbanked. This worrisome phenomenon was exacerbated by the outbreak of the COVID-19 pandemic, which further created a new dimension of inequality in accessing financial services. Digital financial inclusion promises to be an effective tool for addressing [...] Read more.
Globally, over 1.4 billion adult people remain unbanked. This worrisome phenomenon was exacerbated by the outbreak of the COVID-19 pandemic, which further created a new dimension of inequality in accessing financial services. Digital financial inclusion promises to be an effective tool for addressing this socioeconomic ill and propelling economic development. Given the limited studies on the subject in the context of developing economies, it is imperative to understand the existing policies, practices, and barriers to digital financial inclusion in developing economies so as to provide cutting-edge interventions for redress. It is against this background that this study seeks to address the following research questions: (1) What is the state of digital financial inclusion in the developing economy? (2) What are the policies and practices regarding digital financial inclusion in the developing economy? (3) What are the barriers to digital financial inclusion and innovative interventions for redress? Findings reveal that about 44% of the adult population in developing countries does not have access to financial services, with only a few countries that have made significant progress and gains through policy and practice, such as mobile financial services, mobile money interoperability, native connectivity, human capital development, and the digitalization of public services for digital financial inclusion. Our findings also identify challenges and implications with recommendations, which are discussed in detail in this paper. Full article
(This article belongs to the Special Issue Advances in Investment for Sustainable Development)
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16 pages, 6597 KiB  
Article
Unlocking the Potential of Blockchain Technology in the Textile and Fashion Industry
by Sunhilde Cuc
FinTech 2023, 2(2), 311-326; https://doi.org/10.3390/fintech2020018 - 24 May 2023
Cited by 1 | Viewed by 4265
Abstract
The textile and fashion industry is on the brink of a major disruption, and blockchain technology (BT) presents a promising solution that could transform the industry by facilitating supply chain transparency, traceability, and sustainability. This article explores the potential of BT in the [...] Read more.
The textile and fashion industry is on the brink of a major disruption, and blockchain technology (BT) presents a promising solution that could transform the industry by facilitating supply chain transparency, traceability, and sustainability. This article explores the potential of BT in the textile and fashion industry, with a focus on its current applications and potential impact. Using case studies and analyzing all announced blockchain projects from January 2017 to January 2023, we examine the diversity of blockchain applications across different aspects of the textile and fashion industry, including smart contracts and payment processing, supply chain tracking, sustainability applications, and customer engagement. The findings suggest an increasing number of companies are adopting BT, and that BT has the potential to revolutionize the T and F industry by creating a more transparent and efficient supply chain, reducing fraud and counterfeiting, and increasing customer confidence in products. We also identified the challenges and difficulties that may arise during the implementation of BT. This article contributes to the literature on BT in the textile and fashion industry, providing critical insights into its potential impact. Full article
(This article belongs to the Special Issue Financial Technology and Innovation Sustainable Development)
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17 pages, 2892 KiB  
Article
Impact of the COVID-19 Pandemic on Cryptocurrency Markets: A DCCA Analysis
by Dora Almeida, Andreia Dionísio, Paulo Ferreira and Isabel Vieira
FinTech 2023, 2(2), 294-310; https://doi.org/10.3390/fintech2020017 - 24 May 2023
Cited by 2 | Viewed by 1618
Abstract
Extraordinary events, regardless of their financial or non-financial nature, are a great challenge for financial stability. This study examines the impact of one such occurrence—the COVID-19 pandemic—on cryptocurrency markets. A detrended cross-correlation analysis was performed to evaluate how the links between 16 cryptocurrencies [...] Read more.
Extraordinary events, regardless of their financial or non-financial nature, are a great challenge for financial stability. This study examines the impact of one such occurrence—the COVID-19 pandemic—on cryptocurrency markets. A detrended cross-correlation analysis was performed to evaluate how the links between 16 cryptocurrencies were changed by this event. Cross-correlation coefficients that were calculated before and after the onset of the pandemic were compared, and the statistical significance of their variation was assessed. The analysis results show that the markets of the assessed cryptocurrencies became more integrated. There is also evidence to suggest that the pandemic crisis promoted contagion, mainly across short timescales (with a few exceptions of non-contagion across long timescales). We conclude that, in spite of the distinct characteristics of cryptocurrencies, those in our sample offered no protection against the financial turbulence provoked by the COVID-19 pandemic, and thus, our study provided yet another example of ‘correlations breakdown’ in times of crisis. Full article
(This article belongs to the Special Issue Financial Technology and Innovation Sustainable Development)
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19 pages, 274 KiB  
Essay
Enterprise Financialization and Technological Innovation: An Empirical Study Based on A-Share Listed Companies Quoted on Shanghai and Shenzhen Stock Exchange
by Tao Zhu and Xinyu Sun
FinTech 2023, 2(2), 275-293; https://doi.org/10.3390/fintech2020016 - 23 Apr 2023
Cited by 2 | Viewed by 1778
Abstract
In recent years, the growth rate of China’s real industry has slowed down while the financial industry has entered a phase of rapid development. Driven by the profit-seeking motive of capital, real enterprises tend to carry out financial investments, and the degree of [...] Read more.
In recent years, the growth rate of China’s real industry has slowed down while the financial industry has entered a phase of rapid development. Driven by the profit-seeking motive of capital, real enterprises tend to carry out financial investments, and the degree of corporate financialization has been rising. This paper selects A-share listed enterprises in Shanghai and Shenzhen from 2009 to 2020 as research samples to study the impact of corporate financialization on technological innovation and the mediating effect of financing constraints from the perspective of financial asset holding. The study found that the financialization of enterprises’ crowding out effect on technological innovation has led to the phenomenon of “turning from real to virtual”. We also found that the crowding-out effect had experienced lag. This conclusion still held when we controlled for endogeneity. The heterogeneity analysis showed that the financialization of non-state-owned enterprises had an excessive inhibitory effect on technological innovation, and the financialization of enterprises in eastern China has had a remarkable inhibitory effect on technological innovation. The influence mechanism analysis showed how financing constraints played a crucial mediating role in corporate financialization inhibiting technological innovation, and corporate financialization has inhibited technological innovation by exacerbating financing constraints. Based on this research, we propose targeted suggestions to prevent the excessive financialization of enterprises on both government and enterprise levels. Full article
(This article belongs to the Special Issue Financial Technology and Innovation Sustainable Development)
27 pages, 5760 KiB  
Review
Recent Trends in Accounting and Information System Research: A Literature Review Using Textual Analysis Tools
by Fábio Albuquerque and Paula Gomes Dos Santos
FinTech 2023, 2(2), 248-274; https://doi.org/10.3390/fintech2020015 - 12 Apr 2023
Viewed by 4913
Abstract
Accounting has been evolving to follow the latest economic, political, social, and technological developments. Therefore, there is a need for researchers to also include in their research agenda the emerging topics in the accounting area. This exploratory paper selects technological matters in accounting [...] Read more.
Accounting has been evolving to follow the latest economic, political, social, and technological developments. Therefore, there is a need for researchers to also include in their research agenda the emerging topics in the accounting area. This exploratory paper selects technological matters in accounting as its research object, proposing a literature review that uses archival research as a method and content analysis as a technique. Using different tools for the assessment of qualitative data, this content analysis provides a summary of those papers, such as their main topics, most frequent words, and cluster analysis. A top journal was used as the source of information, namely The International Journal of Accounting Information Systems, given its scope, which links accounting and technological matters. Data from 2000 to 2022 was selected to provide an evolutive analysis since the beginning of this century, with a particular focus on the latest period. The findings indicate that the recent discussions and trending topics in accounting, including matters such as international regulation, the sustainable perspective in accounting, as well as new methods, channels, and processes for improving the entities’ auditing and reporting, have increased their relevance and influence, enriching the debate and future perspectives in combination with the use of new technologies. Therefore, this seems to be a path to follow as an avenue for future research. Notwithstanding, emerging technologies as a research topic seem to be slower or less evident than their apparent development in the accounting area. The findings from this paper are limited to a single journal and, therefore, this limitation must be considered in the context of those conclusions. Notwithstanding, its proposed analysis may contribute to the profession, academia, and the scientific community overall, enabling the identification of the state of the art of literature in the technological area of accounting. Full article
(This article belongs to the Special Issue Financial Technology and Innovation Sustainable Development)
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27 pages, 792 KiB  
Article
Market Crashes and Time-Translation Invariance
by Simon Gluzman
FinTech 2023, 2(2), 221-247; https://doi.org/10.3390/fintech2020014 - 27 Mar 2023
Viewed by 2324
Abstract
The general framework for quantitative technical analysis of market prices is revisited and extended. The concept of a global time-translation invariance and its spontaneous violation and restoration is introduced and discussed. We find that different temporal patterns leading to some famous crashes (e.g., [...] Read more.
The general framework for quantitative technical analysis of market prices is revisited and extended. The concept of a global time-translation invariance and its spontaneous violation and restoration is introduced and discussed. We find that different temporal patterns leading to some famous crashes (e.g., bubbles, hockey sticks, etc.) exhibit analogous probabilistic distributions found only in the time series for the stock market indices. A number of examples of crashes are presented. We stress that our goal here is to study the crash as a particular phenomenon created by spontaneous time-translation symmetry breaking/restoration. We ask only “how to calculate and interpret the probabilistic pattern which we encounter in the day preceding crash, and how to calculate the typical market reactions to shock?”. Full article
(This article belongs to the Special Issue Advances in Investment for Sustainable Development)
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16 pages, 634 KiB  
Article
Modeling the Brand Equity and Usage Intention of QR-Code E-Wallets
by Faten Aisyah Ahmad Ramli, Muhammad Iskandar Hamzah, Siti Norida Wahab and Rishabh Shekhar
FinTech 2023, 2(2), 205-220; https://doi.org/10.3390/fintech2020013 - 23 Mar 2023
Cited by 3 | Viewed by 2494
Abstract
The proliferation of digital payments has paved the way for the greater use of E-wallets or mobile payments in over-the-counter (OTC) retail transactions. Nevertheless, given its economic and accessibility benefits over NFC forms of mobile payment, relatively little is known about QR-code E-wallet [...] Read more.
The proliferation of digital payments has paved the way for the greater use of E-wallets or mobile payments in over-the-counter (OTC) retail transactions. Nevertheless, given its economic and accessibility benefits over NFC forms of mobile payment, relatively little is known about QR-code E-wallet (QREW) adoption from the consumer–brand relationship perspective. The study aims to address this knowledge void by augmenting brand equity elements (perceived value, brand image, and brand awareness) to comprehensively analyze consumers’ QREW usage intention in the OTC retail environment. A structural equation modeling analysis was performed on 305 consumers in the greater Klang Valley, Malaysia. The empirical findings suggest that brand awareness positively affects QREW usage intention and mediates the effects of both perceived quality and brand image on the outcome. Moreover, the results reveal a serial mediation effect involving all of the examined factors. Theoretically, this study supplements the literature on mobile payments from the consumer–brand relationship view, in which the predictive nature of brand equity factors is examined separately. In practical terms, considering that the Malaysian market QREW is in a relatively early growth stage, the findings should offer QREW providers insights into how to capitalize on brand equity mechanisms for attracting consumers to utilize their offerings. Full article
(This article belongs to the Special Issue Advances in Analytics and Intelligent System)
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