FinTech and economic readiness: Institutional navigation amid climate risks
Ul-Durar, Shajara, Bakkar, Yassine, Arshed, Noman, Naveed, Shabana and Zhang, Beifan (2024) FinTech and economic readiness: Institutional navigation amid climate risks. Research in International Business and Finance, 73. ISSN 0275-5319
Item Type: | Article |
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Abstract
The current climate change is declared as a global boiling point by the UN; businesses are facing increasing costs in maintaining their supply chains and production standards and are being urged to adapt and innovate for environmental transition. With the Industrial Revolution 4.0, FinTech has helped develop households’ and firms’ resilience against climate change. This study explores how businesses use FinTech to increase economic readiness to attract adaptation investments. This study hypothesizes that, at initial levels of businesses, FinTech adoptions are typically targeted
to improve profitability while, as businesses mature, their FinTech adoption shows a transition towards sustainability. Following this, the role of institutions in regulating an ecosystem is to promote sustainable financial innovations. This study employs a 114-country panel data analysis to investigate these dynamics empirically. The estimation using Panel Quantile Regression showed that institutional quality can moderate the U-shaped FinTech adoption and business readiness relationship to expedite the transition under Sustainable Development Goal 9. This research sheds light on the impact of institutional quality on improving businesses’ ability to attract adaptation investments via promoting sustainable innovation. Outcomes offer valuable insights for policymakers, firms, and investors seeking to foster a more resilient economy.
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Depositing User: Shajara Ul-Durar |
Identifiers
Item ID: 18830 |
Identification Number: https://doi.org/10.1016/j.ribaf.2024.102543 |
ISSN: 0275-5319 |
URI: http://sure.sunderland.ac.uk/id/eprint/18830 | Official URL: https://www.sciencedirect.com/science/article/pii/... |
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Date Deposited: 10 Mar 2025 10:16 |
Last Modified: 10 Mar 2025 10:30 |
Author: |
Shajara Ul-Durar
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Author: |
Yassine Bakkar
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Author: | Noman Arshed |
Author: | Shabana Naveed |
Author: | Beifan Zhang |
University Divisions
Faculty of Business, Law and Tourism > Sunderland Business SchoolSubjects
Business and Management > Business and ManagementActions (login required)
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