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FinTech finance and social-environmental performance around the world

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  • Mertzanis, Charilaos

Abstract

We examine the influence of the country-level value of FinTech finance on social-environmental performance across 58 countries during the period of 2013–2019. Our analysis incorporates additional economic, institutional, and social factors to capture the multifaceted nature of the effect. Our findings reveal a small yet statistically significant positive impact of FinTech finance on social-environmental performance. This effect remains robust across various measures and estimation methods, as well as through sensitivity and endogeneity analyses. While we do not observe nonlinear effects, we do identify lagged effects. Our study contributes to the limited existing literature by utilizing a large sample of countries and employing aggregate values of FinTech finance to predict long-term social-environmental performance. As a result, our findings hold implications for policy considerations.

Suggested Citation

  • Mertzanis, Charilaos, 2023. "FinTech finance and social-environmental performance around the world," Finance Research Letters, Elsevier, vol. 56(C).
    • Handle: RePEc:eee:finlet:v:56:y:2023:i:c:s1544612323004798
    DOI: 10.1016/j.frl.2023.104107
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    References listed on IDEAS

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    Cited by:

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    3. Yao, Dingjun & Zhang, Yu & Hu, Jinzhan & Fan, Kun, 2025. "Effect of coupling and coordinated development of green finance and fintech on corporate risk-taking: Evidence from China," Finance Research Letters, Elsevier, vol. 85(PB).
    4. Dabbous, Amal & Aoun Barakat, Karine & Ben Arfi, Wissal & Nammouri, Hela, 2025. "The impact of environmental policy stringency and economic complexity on nations' energy transitions: The mediating role of fintech financing," Energy Economics, Elsevier, vol. 147(C).
    5. Dariusz Piotrowski & Anna Iwona Piotrowska & Michał Bernard Pietrzak, 2026. "Green FinTech—Methodological Controversies in Research," Sustainable Development, John Wiley & Sons, Ltd., vol. 34(S2), pages 797-810, March.
    6. Cavoli, Tony & Khan, Isma & Wali Ullah, G.M., 2025. "Social capital and FinTech lending: international evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 105(C).
    7. AlSuwaidi, Reem Ahmed & Mertzanis, Charilaos, 2024. "Financial literacy and FinTech market growth around the world," International Review of Financial Analysis, Elsevier, vol. 95(PB).
    8. Niu, Juanjuan & He, Jun & He, Yiqun, 2024. "Harnessing FinTech for sustainable mineral development with innovative financing strategies in China," Resources Policy, Elsevier, vol. 90(C).
    9. Nepal, Rabindra & Zhao, Xiaomeng & Liu, Yang & Dong, Kangyin, 2024. "Can green finance strengthen energy resilience? The case of China," Technological Forecasting and Social Change, Elsevier, vol. 202(C).
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    11. Raju, Akhil & Marisetty, Vijaya B., 2025. "Community activism, Social ties and ESG campaign success," Finance Research Letters, Elsevier, vol. 73(C).
    12. Pu, Ganlin & Wong, Wing-Keung & Du, Qiang & Al Shraah, Ata & Alromaihi, Abdullah & Muda, Iskandar, 2024. "Asymmetric impact of natural resources, fintech, and digital banking on climate change and environmental sustainability in BRICS countries," Resources Policy, Elsevier, vol. 91(C).
    13. Arnone, Massimo & Leogrande, Angelo, 2024. "The Sustainability Of The Factoring Chain In Europe In The Light Of The Integration Of Esg Factors," OSF Preprints 753gf, Center for Open Science.
    14. Ul-Durar, Shajara & De Sisto, Marco & Arshed, Noman & Naveed, Shabana & Farooqi, Madiha Rehman, 2024. "FinTech adoption in achieving ecologically sustainable mineral management in Asian OBOR countries – A cross-section and time autoregressive robust analysis," Resources Policy, Elsevier, vol. 91(C).
    15. Bruno, Elena & Pistolesi, Francesco & Teti, Emanuele, 2025. "Cybersecurity policy, ESG and operational risk: A Virtuous relationship to improve banks’ performance," International Review of Economics & Finance, Elsevier, vol. 99(C).
    16. Li, Aihong & Li, Shuyan & Chen, Shuai & Sun, Xiaoqin, 2024. "The role of Fintech, natural resources, and renewable energy consumption in Shaping environmental sustainability in China: A NARDL perspective," Resources Policy, Elsevier, vol. 88(C).
    17. Ghouse, Ghulam & Bhatti, Muhammad Ishaq & Nasrullah, Muhammad Junaid, 2025. "The impact of financial inclusion, Fintech, HDI, and green finance on environmental sustainability in E-7 countries," Finance Research Letters, Elsevier, vol. 72(C).
    18. Choudhary, Priya & Ghosh, Chinmoy & Thenmozhi, M, 2025. "Impact of fintech and financial inclusion on sustainable development goals: Evidence from cross country analysis," Finance Research Letters, Elsevier, vol. 72(C).
    19. Wang, Jiaqi & Yang, Rui, 2025. "The interrelation of criminal compliance, fintech, and corporate ESG," Finance Research Letters, Elsevier, vol. 85(PC).
    20. Wang, Siheng & Zhang, Xin, 2025. "Environmental courts, financing constraints, and corporate green innovation," Finance Research Letters, Elsevier, vol. 75(C).
    21. Jiang, Miaoyi & Ma, Jun, 2025. "Policy, investment, and growth: How green finance drives corporate sustainable development?," International Review of Economics & Finance, Elsevier, vol. 102(C).
    22. Adrián Szilárd Nagy & Fitty Valdi Arie & Octavia Diana Monica Tuegeh & Beáta Bittner & Johan Reineer Tumiwa, 2025. "Fintech adoption for SMEs in different socioeconomic contexts: evidence from Hungary and Indonesia," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-37, December.

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