[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/eme/medarp/medar-08-2021-1405.html
   My bibliography  Save this article

Sustainability, market performance and FinTech firms

Author

Listed:
  • Osama F. Atayah
  • Khakan Najaf
  • Md Hakim Ali
  • Hazem Marashdeh
Abstract
Purpose - The purpose of this paper is to provide empirical evidence on the suitability of a Bloomberg Environmental (E), Social (S) and Governance (G) (ESG) disclosure index designed for companies from the USA and to investigate the sustainability quality and stock performance of FinTech companies. Design/methodology/approach - Data from all FinTech and non-FinTech firms in the USA was acquired from Bloomberg to undertake the study and evaluate the suggested hypotheses efficiently. The final sample consists of 1,672 company-year observations from 2010 to 2019. The methodology used ordinary least squares regressions of performance metrics on the Bloomberg ESG disclosure index and its components. Findings - The findings indicated that the Bloomberg ESG disclosure index is a valid proxy for sustainability and has a direct relationship with stock performance. Furthermore, this study suggests that non-FinTech firms outperform FinTech firms in sustainability and stock performance. The findings support stakeholder theory, which suggests that increased disclosure of ESG information will mitigate the agency problem and protect shareholders’ interests. Research limitations/implications - This study’s findings were significant because the findings emphasised ESG disclosure in FinTech and non-FinTech firms, providing information to academics, legislators, regulators, financial report users, investors, environmental unions, workers, customers and society. Originality/value - This research is unique as it evaluates ESG practices in both FinTech and non-FinTech firms.

Suggested Citation

  • Osama F. Atayah & Khakan Najaf & Md Hakim Ali & Hazem Marashdeh, 2023. "Sustainability, market performance and FinTech firms," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 32(2), pages 317-345, March.
    • Handle: RePEc:eme:medarp:medar-08-2021-1405
    DOI: 10.1108/MEDAR-08-2021-1405
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2021-1405/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/MEDAR-08-2021-1405/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/MEDAR-08-2021-1405?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Dicuonzo, Grazia & Palmaccio, Matteo & Shini, Matilda, 2024. "ESG, governance variables and Fintech: An empirical analysis," Research in International Business and Finance, Elsevier, vol. 69(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:medarp:medar-08-2021-1405. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.