國立虎尾科技大學 |

Essays in Corporate Finance: Fintech and ESG /

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Essays in Corporate Finance: Fintech and ESG // Hieu Tran.
Author:	Tran, Hieu,
Description:	1 electronic resource (130 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 85-12, Section: A.
Contained By:	Dissertations Abstracts International85-12A.
Subject:	Finance. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=31141571
ISBN:	9798382795744

Essays in Corporate Finance: Fintech and ESG /
Tran, Hieu,

Essays in Corporate Finance: Fintech and ESG /Hieu Tran. - 1 electronic resource (130 pages)

Source: Dissertations Abstracts International, Volume: 85-12, Section: A.

This dissertation comprises two independent essays in empirical corporate finance, with a focus on the emerging issues of fintech and finance. In the first chapter, I examine how traditional depository banks respond to increased competition from fintech firms. My identification strategy exploits the staggered adoption of the regulatory sandbox legislation in some US states. I first show that the adoption of regulatory sandboxes leads to an 8% increase in the number of fintech startups. Using bank-level employment data collected from LinkedIn, I find that the rise in fintech firms leads banks to increase wages and employment of high skilled workers. At the same time, banks close more branches. Overall, my results suggest that banks boost high-skilled employment and close costly branches in a bid to be more responsive to the potential disruptions from fintech firms. The second chapter studies the effects of SRI institutional investors on governance outcomes and long-term value creation. The results show that the expansion of SRI ownership reduces firms' valuation and weakens governance outcomes. To analyze exogenous increases in SRI ownership, we exploit the quasi-natural experiment of mergers between SRI and non-SRI financial institutions. Overall, this study indicates that rising popularity of SRI institutional investors reduces firm value through weak monitoring of corporate governance outcomes.

English

ISBN: 9798382795744Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

Fintech

Essays in Corporate Finance: Fintech and ESG /
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520 $a This dissertation comprises two independent essays in empirical corporate finance, with a focus on the emerging issues of fintech and finance. In the first chapter, I examine how traditional depository banks respond to increased competition from fintech firms. My identification strategy exploits the staggered adoption of the regulatory sandbox legislation in some US states. I first show that the adoption of regulatory sandboxes leads to an 8% increase in the number of fintech startups. Using bank-level employment data collected from LinkedIn, I find that the rise in fintech firms leads banks to increase wages and employment of high skilled workers. At the same time, banks close more branches. Overall, my results suggest that banks boost high-skilled employment and close costly branches in a bid to be more responsive to the potential disruptions from fintech firms. The second chapter studies the effects of SRI institutional investors on governance outcomes and long-term value creation. The results show that the expansion of SRI ownership reduces firms' valuation and weakens governance outcomes. To analyze exogenous increases in SRI ownership, we exploit the quasi-natural experiment of mergers between SRI and non-SRI financial institutions. Overall, this study indicates that rising popularity of SRI institutional investors reduces firm value through weak monitoring of corporate governance outcomes.
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