Finance and Financial Management Commons^™

A Study On The Impact Of Technological Innovation Attributes On Listing Success Rate And Post-Listing Performance, Yijun Xu

Dissertations and Theses Collection (Open Access)

"Key and core technology" enterprises form the backbone of great powers. China’s STAR Market (technological innovation board) is committed to implementing strategies that will lead to technological innovation-driven sustainable development and strengthen the country by building a secure and independent industrial chain that can support the development of cutting-edge technology. From the outset, the STAR Market put forward clear requirements for "key and core technology" enterprises. The technological innovation attributes of the enterprises listed on the STAR Market are the most essential core characteristics, but a question arises as to how best to evaluate their technological innovation attributes. Are these …

Three Essays On Climate Finance And Machine Learning In Financial Studies, Huan Kuang

Doctoral Dissertations

This dissertation focuses on climate finance and explore how to incorporate machine learning techniques into financial research. In the first chapter, we focus on climate innovation. Through a novel design to link climate risk and the U.S. firm patents related to climate change mitigation technologies (CCMTs), we find that CCMT innovations generate significant economic value. These innovations are effective in mitigating firms’ carbon risk. We also find that adoption of a new patent classification scheme has promoted more CCMT innovations in the United States. However, we find mixed evidence on firms’ carbon risk and their CCMT innovation activities. Our work …

When Will Cryptocurrency’S Winter Come To An End?, Singapore Management University

Perspectives@SMU

With the price of Bitcoin and other cryptocurrencies dropping dramatically, what is in store for the digital asset market?

Exploring The Assetisation And Financialisation Of Non-Fungible Tokens: Opportunities And Regulatory Implications, Iris H. Y. Chiu, J.G. Allen

Research Collection Yong Pung How School Of Law

This article explores the emerging phenomenon of use cases for Non-fungible Tokens (NFTs) in novel forms of crypto-finance, a stage we call “NFT financialisation”, that can be developed from stages of consumption and commoditisation of NFTs, which are increasingly observed. Despite the emerging contests regarding property rights conferred by NFTs, the needs for commoditisation and financialisation in NFT markets would likely shape the delineation and framing of such rights in order for users to exploit the asset potential of NFTs. We argue that an institutional response is timely and beneficial for NFT financialisation. Financial regulatory governance can provide the institutions …

Cryptocurrencies: Now What?, Wei Zhou, Fathurraman

Perspectives@SMU

New use cases could lead to wider adoption, but regulation and the transition to Web3 must be handled first

Regulating The Fintech Space, Jing Yang, Patrick Thng, Zhu Juntao, Kell Jay Lim

Perspectives@SMU

China gets to grips with fintech but still frowns upon cryptocurrencies. Regulation, blockchain technology, and central bank digital currencies will be under the spotlight amidst the crypto crash

Chinese-Backed Fintech Lending Boom: How Did Indonesia Respond?, Angela Tritto, Yujia He, Victoria Amanda Junaedi

Diplomacy and International Commerce Reports

Peer-to-peer (P2P) online lending has the potential to boost innovation and financial inclusion in emerging markets, yet it can also incur investment and borrower-related risks, such as privacy breaches.

Driven by regulation control in China, Chinese investments flocked to Indonesia, causing a rapid expansion of online lending platforms.

Similar to what happened in China prior to the regulatory crackdown, the P2P lending boom in Indonesia saw a rise in unethical and illegal business practices. The government responded by creating new regulations and institutions to mitigate risks without stifling the potential for financial inclusion.

A proactive approach towards monitoring and regulating …

Is The Crypto World Having Its Own 2008 Lehman Brothers Moment?, Eric Lim

Perspectives@SMU

Cryptocurrency markets have tumbled in recent times due to the age-old story of greed, arrogance and disregard for responsibility, writes UNSW Business School’s Eric Lim

Decentralized Finance: Implications Of The So-Called Disintermediation Of Financial Services, Nydia Remolina Leon

Research Collection Yong Pung How School Of Law

Decentralized Finance, known as DeFi, refers to the use of blockchain and digital assets or crypto-assets for the provision of financial services. Under this concept, services such as loans, insurance, crypto-asset exchanges, among others, are offered, are structured based on crypto-assets and through technologically decentralized applications. This chapter discusses the concept of DeFi and how it challenges the traditional market infrastructures of the financial sector, demystifying the idea of absolute decentralization, generally mentioned in the crypto-asset arena, from the perspective of decision-makers and governors of these decentralized applications. Subsequently, the chapter analyses the opportunities and challenges of DeFi for consumers, …

Bitcoin, Blockchain Technology, And Cryptocurrencies, Jeffrey Dodson

Information Systems Undergraduate Honors Theses

The blockchain based cryptocurrency known as Bitcoin was theorized in a whitepaper published October 28, 2008, by Satoshi Nakamoto (pseudonym) (Nakamoto, 2008). The paper, titled, “Bitcoin: A Peer-to-Peer Electronic Cash System,” laid out a digital currency creation/exchange structure that employs a decentralized ledger that would later run on the author’s open-source application (Nakamoto, 2008). The main innovation of this technology is found within the security benefits provided by the proof-of-work consensus mechanism that requires solving a mathematic trap-door compression function to verify transactions/blocks added to the blockchain. On January 3, 2009, the genesis block, a term for the first block …

How The Financial Services Industry Is Utilizing Social Media To Expand Their Client Base, Kristen Stewart

Marketing Undergraduate Honors Theses

Social media is becoming an increasingly important aspect of all companies’ marketing strategies. It is almost imperative for companies to advertise through social media if they want to have a fair chance of reaching the younger generation. In fact, “the majority (97%) of Gen Z consumers say they now use social media as their top source of shopping inspiration; 65% say they use social media to find entertaining content; and 61% of them are specifically interested in watching more video content” (Kastenholz, 2021). This proves that social media can make a significant and lasting impact on a company’s success. Social …

Fintech And Anti-Money Laundering Regulation: Implementing An International Regulatory Hierarchy Premised On Financial Innovation, Nicholas A Roide

Texas A&M Law Review

Innovations in financial technology (“fintech”) have rippling effects across global markets. Fintech firms utilizing virtual assets and disintermediating blockchain technology continue to rapidly grow in strength and number. As systemic risk mounts due to the inter-jurisdictional nature of fintech, antimony laundering (“AML”) regulators must search for an international answer to maintain global financial stability and protect consumers against illicit activities. A variety of solutions have appeared within local AML regulatory frameworks. These frameworks tend to function as a hierarchy with three ordered objectives: market integrity, rule clarity, and innovation. However, frameworks often place too much emphasis on market integrity and …

Analyzing The Impact Of Digital Payment On Efficiency And Productivity Of Commercial Banks: A Case Study In China, Haopeng Wang, Aldy Gunawan

Research Collection School Of Computing and Information Systems

Digital payment has become one of the most popular payment methods all around the world, especially in countries that witnessed the rapid development of internet. As a traditional financial institution, commercial banks have been impacted by newly developed payment technology since third payment platforms have attracted customers to use the digital payment for daily consumption, transferring, and even investment. This paper focuses on analyzing whether and how the commercial banks in China have been affected by digital payment by using empirical methods. Systematic Generalized Method of Moments (SYS-GMM) is used to test the relationship between the productivity of commercial banks …

Decentralizing Money: Bitcoin Prices And Blockchain Security, Emiliano Sebastian Pagnotta

Research Collection Lee Kong Chian School Of Business

We address the determination of bitcoin prices and decentralized security. Users forecast the transactional and resale values of holdings, pricing the risk of systemic attacks. Miners contribute resources to protect against attackers and compete for block rewards. Bitcoin's design leads to multiple equilibria: the same blockchain technology is consistent with sharply different price and security levels. Bitcoin's monetary policy can lead to welfare losses and deviations from quantity theory. Price-security feedback amplifies fundamental shocks' volatility impact and leads to boom and busts unconnected to fundamentals. We characterize how viability versus fiat currency depends on bitcoin's relative acceptability and inflation protection.

Flight To Bitcoin, Yang Yu, Jinyuan Zhang

Research Collection Lee Kong Chian School Of Business

This paper uncovers an overlooked motivation of Bitcoin investment: investors hold Bitcoin as an asset on which government authorities have limited influence. Consistent with this motivation, we document a flight-to-Bitcoin (FTB) phenomenon whereby local demand for Bitcoin increases with local economic policy uncertainties and Bitcoin ownership shifts from centralized exchanges to decentralized wallets amid such turbulence. FTB is driven by investors’ lack of confidence in government as FTB is stronger in countries where the confidence in government is low and corruption incidents surge. Finally, a comparison with safe-haven assets further differentiates FTB from flight-to-safety.

Redefining Banking Through Defi: A New Proposal For Free Banking Based On Blockchain Technology And Defi 2.0 Model, Francesco Spinoglio

Journal of New Finance

This article aims to offer a new free banking proposal with a 100% cash ratio that uses the DeFi 2.0 model. The current monetary system, based on Central Banking with fractional reserve, has created a huge debt spiral and has distorted the entire production system, which produces deep recurring socioeconomic crises that increasingly impoverish citizens. This paper presents an innovative proposal that aims to take advantage of blockchain technology using the Defi 2.0 model. It would be a first attempt to merge centralized finance with the DeFi world, laying the foundation for a fairer and more decentralized monetary society.

Governing Fintech 4.0: Bigtech, Platform Finance, And Sustainable Development, Douglas Arner, Ross Buckley, Kuzi Charamba, Artem Sergeev, Dirk Zetzsche

Fordham Journal of Corporate & Financial Law

Over the past 150 years, finance has evolved into one of the world’s most globalized, digitized, and regulated industries. Digitalization has transformed finance, but also enabled new entrants over the past decade in the form of technology companies, especially FinTechs and BigTechs. As a highly digitalized industry, incumbents and new entrants alike are increasingly pursuing similar approaches and models, focusing on the economies of scope and scale typical of finance and the network effects typical of data. Predictably, this has resulted in the emergence of large digital finance platforms. We argue that the combination of digitalization, new entrants (especially BigTechs), …

When The Social Networks And Internet Come To The Rescue Of Entrepreneurs: The Problematic Of Crowdfunding In Africa, Omenguele Rene Guy, Mbouolang Yimpi Cedric

The Journal of Entrepreneurial Finance

Since 2007, crowdfunding platforms have abounded on the web. It is estimated at 2.5 billion dollars the potential of the crowdfunding market in sub-Saharan Africa by 2025. The objective of this paper is to make an inventory of Crowdfunding activities in Africa, region with a most restrictive access to bank loan by SMEs, start-ups and young entrepreneurs. It appears from the economic and socio-cultural realities that Africa is a region with more potential catalyst for crowdfunding industry takeoff. However, there are many factors which are presented in this study as potential inhibitors of African CF market competiveness. This study has …

The Covid-19 Pandemic And The Importance Of Financing The Biotechnology Industry In South Africa, Ramazan Uctu, Karen Eksteen

The Journal of Entrepreneurial Finance

Whether it is a government research institution, a public-private partnership, or a private enterprise, the South African biotechnology industry requires funding for the biotechnology industry. Our goal with this research is to look into the role of venture capital (VC) in financing biotech enterprises and demonstrate how VC finance could aid in the development of diagnostic kits and vaccines for Covid-19 or future pandemics in South Africa.

The study aims to provide policymakers with a clear image of the importance of funding the biotechnology sector, notably during the Covid-19 period, as recognized by the industry's key players. We employed a …

Comparisons And Contrasts Of It Systems And Socioeconomic Status In School Districts, Hannah A. Ross

OUR Journal: ODU Undergraduate Research Journal

In a technology thrived society, one would think that anyone can have access to technology – especially in schools. However, it is not always the case due to budgets and other factors. As technology becomes an essential part of the workforce, students need to know certain web applications that companies use. This study will compare four school districts within the Tidewater area of Virginia. The following school districts include Hampton City Schools, Newport News Public Schools, York County School Division, and Williamsburg-James City County Public Schools. Each school will be compared and contrasted by the technology applications that are used …

Covid-19: The Financial Implications On Museums, Grace Beehler

Ideas: Exhibit Catalog for the Honors College Visiting Scholars Series

My article discusses the financial implications of the pandemic on museums and how they have had to change based on revenue losses. I discuss the impact on museums through statistical evidence, lower-cost alternatives museums have had to implement, and how museums will be impacted financially moving forward.