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
Tipo de recurso: artículo
Fecha de publicación:2022
País:España
Institución: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
Acceso en línea:https://riunet.upv.es/handle/10251/184792
Access Level:acceso abierto
Palabra clave: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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oai_identifier_str oai:riunet.upv.es:10251/184792
network_acronym_str ES
network_name_str España
spelling Is the sustainability profile of FinTech companies a key driver of their value? Merello Giménez, Paloma Barbera, Antonio De la Poza, Elena|||0000-0003-2303-0811 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 [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-I00 Elsevier https://riunet.upv.es/handle/10251/184792
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?
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
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
topic_facet 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
format article
url https://riunet.upv.es/handle/10251/184792
language eng
eu_rights_str_mv openAccess
publisher Elsevier
institution Universitat Politècnica de València (UPV)
collection RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
reponame_str RiuNet. Repositorio Institucional de la Universitat Politécnica de Valéncia
instname_str Universitat Politècnica de València (UPV)
_version_ 1878440662959915008
publishDateSort 2022
author_browse Barbera, Antonio
De la Poza, Elena|||0000-0003-2303-0811
Merello Giménez, Paloma
publisherStr Elsevier
score 6,9303427

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