Scholarlink

<p>Financial technology (fintech), communication, and digital payments have significantly contributed to the evolution of e-commerce. Inspired by the rapidly growing innovations in e-commerce models induced mainly by fintech and digital payment firms, this study examines the time-varying causality and linkages between fintech stocks (KBW Nasdaq Financial Technology Index) and firms in future payments and future communication businesses (S&amp;P Kensho Future Payments Index and S&amp;P Kensho Future Communication Index) using a battery of three robust estimation techniques with daily data from May 15, 2017, to May 7, 2022. To this end, the rolling window wavelet correlation results demonstrate the existence of positive market correlation at short and medium horizons, mainly between fintech and future payment firms, and a variety of causal relationships, with a notable decrease during the COVID-19 crisis due to the decrease in e-commerce. However, Granger causality between the markets was noticed at different market periods and frequencies. Additionally, the influence of phase synchronization and frequency specificity in the causation between analyzed assets also supports the positive relationship among analyzed assets, implying power predictability among them. These findings have managerial, theoretical, and policy implications, especially in terms of the improved implementation of these new technologies in firms' financial structures.</p>

错误：搜索内容不能为空，请输入英文关键词
错误：关键词超出字数限制，请精简
高级检索

Causal dynamics among fintech, communication and digital payments firms

  • 期刊论文

  • 发表日期：

    2025年7月14日

查看全文
  • Nader Trabelsi,
  • Emmanuel Joel Aikins Abakah,
  • Miklesh Prasad Yadav,
  • Aviral Kumar Tiwari

摘要

Financial technology (fintech), communication, and digital payments have significantly contributed to the evolution of e-commerce. Inspired by the rapidly growing innovations in e-commerce models induced mainly by fintech and digital payment firms, this study examines the time-varying causality and linkages between fintech stocks (KBW Nasdaq Financial Technology Index) and firms in future payments and future communication businesses (S&P Kensho Future Payments Index and S&P Kensho Future Communication Index) using a battery of three robust estimation techniques with daily data from May 15, 2017, to May 7, 2022. To this end, the rolling window wavelet correlation results demonstrate the existence of positive market correlation at short and medium horizons, mainly between fintech and future payment firms, and a variety of causal relationships, with a notable decrease during the COVID-19 crisis due to the decrease in e-commerce. However, Granger causality between the markets was noticed at different market periods and frequencies. Additionally, the influence of phase synchronization and frequency specificity in the causation between analyzed assets also supports the positive relationship among analyzed assets, implying power predictability among them. These findings have managerial, theoretical, and policy implications, especially in terms of the improved implementation of these new technologies in firms' financial structures.