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Fintech, Business, and Development
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Fintech, Business, and Development

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Technology and Innovation".

Deadline for manuscript submissions: 31 August 2024 | Viewed by 7823

Special Issue Editors

Dr. Chandan Kumar Jha

E-Mail Website
Guest Editor
Madden School of Business, Le Moyne College, Syracuse, NY, USA
Interests: finance and development; culture and institutions; socioeconomic inequality
Dr. Chandan Sharma

E-Mail Website
Guest Editor
Indian Institute of Management Lucknow, Lucknow, India
Interests: technology; volatility; institutions; information technology economics

Special Issue Information

Dear Colleagues,

Fintech, short for financial technology, has become an increasingly important player in the global economy. Fintech companies leverage technological advancements to offer innovative financial services, ranging from mobile banking and peer-to-peer lending to cryptocurrency and blockchain-based solutions. 

By leveraging digital technologies, fintech firms have offered financial services to previously excluded populations. This has enabled individuals to access credit, insurance, and savings products that were previously unavailable to them. By providing alternative sources of financing, such as peer-to-peer lending and crowdfunding, fintech has enabled small businesses to access capital that they may not have been able to obtain through traditional sources. This has led to increased investment, innovation, and job creation, all of which are essential for economic growth. Finally, fintech has improved the efficiency and transparency of financial markets, reducing costs and improving accessibility for investors. Consequently, new financial instruments, such as cryptocurrencies and digital securities, have been developed that offer greater flexibility and transparency than traditional financial products. 

In conclusion, fintech has played a crucial role in driving economic and financial development, promoting financial inclusion, and enhancing firm performance. As the world continues to embrace digital technologies, fintech is poised to play an even greater role in shaping the future of finance. 

This Special Issue welcomes scholarly contributions in the field of fintech. Any papers that study the causes and consequences of fintech on a broad range of issues, including firms, households, individuals, stock markets and other financial instruments will be considered. The analysis could be at any level, including, but not limited to, individual, household, firms and businesses, regional, and country level. Studies relating to information technology investment, technological spillovers, financial innovation, blockchain technology in the financial services, innovation-led growth, economics of technology, and risk are welcome.

Dr. Chandan Kumar Jha
Dr. Chandan Sharma
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • fintech
  • cryptocurrency
  • mobile money
  • e-payment
  • peer-to-peer lending
  • financial inclusion
  • financial development
  • financial markets
  • financial instruments
  • algorithmic trading
  • high frequency trading
  • economic growth and development
  • information technology investment
  • innovation-led growth
  • technology and risk
  • technological spillover

Published Papers (4 papers)

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Research

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17 pages, 1496 KiB  
Article
Empowering Self-Help Groups: The Impact of Financial Inclusion on Social Well-Being
by Madan Survase and Atmajitsinh Gohil
J. Risk Financial Manag. 2024, 17(6), 217; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm17060217 - 22 May 2024
Viewed by 908
Abstract
Financial inclusion (FI) relates to the access and availability of financial services to society, especially in low-income groups. FI is pivotal in achieving 7 of the 17 Sustainable Development Goals (SDGs). This paper explores the level of FI in the rural areas of [...] Read more.
Financial inclusion (FI) relates to the access and availability of financial services to society, especially in low-income groups. FI is pivotal in achieving 7 of the 17 Sustainable Development Goals (SDGs). This paper explores the level of FI in the rural areas of Maharashtra and measures the impact of FI on the social conditions of Self-Help Groups (SHGs) prevalent in these areas. The study is based on a 424 SHGs survey conducted in the Pune, Thane, and Palghar districts of Maharashtra, India. The impact of FI on SHGs is evaluated using a Structural Equation Model (SEM). The results of the study show that physical banking services, Business Facilitators (BFs), and Business Correspondents (BCs) improve the social conditions of rural SHGs. Additionally, BCs and BFs mediate the relationship between physical banking services and social conditions. The study also reveals an insignificant association between BCs and BFs and insurance services. The present study highlights the importance of increasing the awareness of insurance policies through financial literacy programs and making timely availability and accessibility of BCs and BFs to enhance financial inclusion in rural areas. Full article
(This article belongs to the Special Issue Fintech, Business, and Development)
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12 pages, 272 KiB  
Article
Corporate Governance and FinTech Innovation: Evidence from Saudi Banks
by Ayth I. Almubarak and Abdullah A. Aljughaiman
J. Risk Financial Manag. 2024, 17(2), 48; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm17020048 - 26 Jan 2024
Viewed by 1799
Abstract
The rising adoption of FinTech is changing the financial sector. However, the determinants of FinTech have not been examined thoroughly. The purpose of this paper is to examine whether corporate governance is related to FinTech products in the banking sector, given that governance [...] Read more.
The rising adoption of FinTech is changing the financial sector. However, the determinants of FinTech have not been examined thoroughly. The purpose of this paper is to examine whether corporate governance is related to FinTech products in the banking sector, given that governance may influence the quantity and quality of innovation. Specifically, we investigate the association between the size of the board of directors, the percentage of independent directors on the board and FinTech services. Furthermore, we show how the composition of the board can influence the association between FinTech services and a bank’s performance. Using a sample of 12 Saudi banks for the period 2014–2019, we find that board size is significantly and negatively associated with a bank’s FinTech score. We further show that independent members on the board contribute to performance by bringing more FinTech services (innovation development) to the banks. As the first study examining the determinants of FinTech in the Saudi banking sector, this paper may help regulators to better understand the drivers of FinTech and its quality in the banking sector. Full article
(This article belongs to the Special Issue Fintech, Business, and Development)
19 pages, 568 KiB  
Article
FinTech Adoption of Financial Services Industry: Exploring the Impact of Creative and Innovative Leadership
by Muzamil Ahmad Baba, Zia ul Haq, Mohsina Dawood and Kumar Aashish
J. Risk Financial Manag. 2023, 16(10), 453; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm16100453 - 20 Oct 2023
Cited by 1 | Viewed by 2927
Abstract
This paper examines the link between creative and innovative leadership and FinTech adoption through the transmission mechanisms of perceived ease of use (PEOU) and perceived usefulness (PU). This study used a questionnaire survey method to collect data from a sample of 721 employees [...] Read more.
This paper examines the link between creative and innovative leadership and FinTech adoption through the transmission mechanisms of perceived ease of use (PEOU) and perceived usefulness (PU). This study used a questionnaire survey method to collect data from a sample of 721 employees working in the Indian financial services sector. The data were analyzed using structural equation modelling. The study results revealed a significant and positive influence of creative and innovative leadership, PEOU, and PU on FinTech adoption. Moreover, PEOU and PU mediated the link between creative and innovative leadership and FinTech adoption. This study proposes a new vision for managerial procedures to understand the critical aspects regarding FinTech adoption. The study advises that engineering managers should offer simple and user-friendly technology to enhance the adoption rate. Additionally, the results suggest the importance of creative and innovative leadership for competitively exploiting novel technologies. Given India’s digital revolution and huge market potential, the FinTech sector could prove a game-changer, especially in generating employment for the young and technologically qualified population. Tech-driven organizations could use the study findings strategically in this digital era. Full article
(This article belongs to the Special Issue Fintech, Business, and Development)
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Review

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19 pages, 3207 KiB  
Review
Research on Price Discovery in Financial Securities: Trends and Directions for Future Research
by Prashant Sharma, Gaurav Agrawal, Geetika Arora, Dinesh Kumar Sharma and Varun Chotia
J. Risk Financial Manag. 2023, 16(9), 416; https://0-doi-org.brum.beds.ac.uk/10.3390/jrfm16090416 - 19 Sep 2023
Cited by 1 | Viewed by 1452
Abstract
The futures contracts were introduced to act as hedging instruments and ensure the price discovery (referred to as PD hereafter) mechanism for the underlying securities. If the price movement of a futures contract leads the price movement of the underlying securities in the [...] Read more.
The futures contracts were introduced to act as hedging instruments and ensure the price discovery (referred to as PD hereafter) mechanism for the underlying securities. If the price movement of a futures contract leads the price movement of the underlying securities in the spot market, this confirms the existence of price discovery in the market. This study undertakes an in-depth analysis of past research in order to find research trends and directions for the future in the field of price discovery. The bibliometric analysis technique is used to analyse the existing literature. The study considers the 1431 documents collected from the Scopus database for the period of 1982–2021 to conduct the descriptive and network analysis of search results. The study identifies three key clusters, i.e., the foundation of the price discovery process (Cluster 1), the econometric tools and techniques to assess the price discovery process (Cluster 2), and price discovery under different market conditions and constraints (Cluster 3). After an in-depth content analysis of these clusters, the study provides suggestions for future research in the field of price discovery. The study is the first of its type to conduct an in-depth analysis of the literature of price discovery since inception, and provides directions for future research in the field. Full article
(This article belongs to the Special Issue Fintech, Business, and Development)
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