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Assessing the risk impact of COVID-19 on China’s FinTech industry: A multi-dimensional analysis

Author

Listed:
  • Li Zeng

    (School of Finance and Economics, Henan Polytechnic University, Jiaozuo, P. R. China)

  • Wee-Yeap Lau

    (Faculty of Business and Economics, University of Malaya, Lembah Pantai, 50603 Kuala Lumpur, Malaysia)

Abstract

This study examines the impact of COVID-19 on the risk of the FinTech sector from a risk perspective. This study employs a multi-dimensional analysis approach and a rich data set that includes data from typical listed FinTech companies from 2016 to 2023. The research not only examines the overall risk level of the FinTech industry during the pandemic but also compares the risk changes in the FinTech industry with those in the traditional banking sector at different stages of the pandemic, revealing the unique risk characteristics of the financial technology industry when faced with the shocks of the pandemic. The results of the study indicate that COVID-19 has had a significant negative impact on risks in the FinTech sector, particularly in terms of risk of bankruptcy and risk of extreme losses. The findings of this study provide valuable information for regulators and investors in developing future crisis prevention and risk management strategies.

Suggested Citation

  • Li Zeng & Wee-Yeap Lau, 2025. "Assessing the risk impact of COVID-19 on China’s FinTech industry: A multi-dimensional analysis," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 12(02), pages 1-42, June.
    • Handle: RePEc:wsi:ijfexx:v:12:y:2025:i:02:n:s2424786325500094
    DOI: 10.1142/S2424786325500094
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    More about this item

    Keywords

    COVID-19; FinTech; financial risk; value at risk; expected shortfall; KMV;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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