Influence of digitalisation and technological innovations in the financial market on the development of the financial market

Mekinjić, Boško; Grujić, Miloš; Vujičić-Stefanović, Dragana

doi:10.5937/ekopre2004269m

Cited by 7 publications

(5 citation statements)

References 8 publications

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“…Innovation activities certainly require financial support so that it becomes a rational thing where innovation has a causal relationship with financial developments (Mekinjić, Grujić, & Vujičić-Stefanović, 2020). But the support of innovation to productivity in business creates a monopoly economy where the companies that win in innovation have the potential to monopolize the market (Rikap, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Digital Finance, Human Capital, and Urban Innovation in Indonesia

Respati,

Triatmanto,

Wahyuni

2024

J. Professional Business Review

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Objective: The objective of this study is to investigate digital finance and urban innovation in 98 cities in Indonesia. This study uses panel data with a time period from 2000 to 2021. Theoretical Framework: This research is based on theories that discuss digital finance to understand the development of digital financial technology, and human capital theory to explain actors who utilize digital technology and also innovation theory to explain the innovation of actors in digital technology, especially those who live in urban areas with a high level of digital dependence Method: This study uses heterogeneity analysis with a panel data structure. This study also use two-step system generalized method of moments estimation model. Results and Discussion: This research finds that digital finance has a significant impact on urban innovation. However, the heterogeneous impact of digital finance on urban innovation for each city in Indonesia has a different level of commercial attractiveness. Research Implications: In Indonesia, traditional finance also plays an important role in urban innovation where the supply of traditional finance plays a role in moderating the effect of digital finance promotion on urban innovation. Human capital is a vital factor driving innovation. Originality/Value: This research builds on previous research regarding the impact of digital finance on innovation where most of the research related to digital finance and innovation focuses on enterprise technology innovation, while this research focuses on urban innovation as an originality this study.

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Section: Literature Reviewmentioning

confidence: 99%

Digital Finance, Human Capital, and Urban Innovation in Indonesia

Respati,

Triatmanto,

Wahyuni

2024

J. Professional Business Review

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“…Industry 4.0 is characterized by modern information-communication technologies (ICTs) [5]. These ICTs affect all business activities [38]. The digitalization of business can be viewed as a positive concept.…”

Section: Serbiamentioning

confidence: 99%

The economic impact of the COVID-19 pandemic: Reviewing Serbian and global strategies

Bakator¹,

Ćoćkalo²,

Đorđević³

et al. 2021

Ekonomika preduzeća

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The main goal of this review paper is to thoroughly analyze and concisely present data and information on the COVID-19 pandemic. The review focuses on Serbian as well as on global strategies and policies for resolving challenges in the domain of public health and economic stability. Now, the goal is to analyze the intensity of this negative economic impact, and to address the existing and potential strategies for overcoming the economic crisis. The review paper contributes to the existing body of literature and it increases the awareness of non-experts, as its concise nature provides significant insight into the seriousness of the crisis. Fellow scholars can turn to this review as basis for future research.

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“…It is estimated that the confinement required by various governments worldwide has led to a 21% to 26% increase in daily transfers from mobile financial applications [8]. Additionally, these have also led to negative consequences, such as an increase in fraud-theft of credit card information and banking information in order to divert money, as an example [9]-thus giving rise to a severe problem due to the recent increasing digitalization of the economy [10]. One of the characteristics of the new digital age is that it takes on different forms and dimensions at a daily pace [10].…”

Section: Introductionmentioning

confidence: 99%

“…Additionally, these have also led to negative consequences, such as an increase in fraud-theft of credit card information and banking information in order to divert money, as an example [9]-thus giving rise to a severe problem due to the recent increasing digitalization of the economy [10]. One of the characteristics of the new digital age is that it takes on different forms and dimensions at a daily pace [10]. Although banks are less likely to accept change (in terms of their business formation and other characteristics), they have adjusted to the changes in the business environment.…”

Section: Introductionmentioning

confidence: 99%

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Fintech Services and the Drivers of Their Implementation in Small and Medium Enterprises

2022

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Fintech has been one of the biggest agents of change in the financial sector worldwide, deserving an in-depth analysis as the aim of this study (including factors leading to its adoption, consequences, etc.). During the COVID-19 pandemic, the financial area and Fintech services allied to technology has increased efficiency, convenience, and security. To better understand this type of service, the research follows a quantitative methodology. The quantitative method included a questionnaire survey of companies that are Fintech customers, totaling 49 valid responses from firms (collected over a three-month period and which involved sending over a thousand emails to numerous companies). The response rate was low due to both the pandemic and the conjuncture with major war, which are generating uncertainty in business. The analysis was based on descriptive statistics, an assessment of the metric qualities of the scales, reliability and an Exploratory Factor Analysis, Pearson correlations and Hypothesis testing. The positive and significant effect of the technological context (perceived convenience, usefulness and effectiveness and perceived safety and trust) and the organizational context (ecological footprint reduction and internal cost reduction) on Fintech service adoption intention was confirmed. Hypothesis Three was partially confirmed since only consumer trends and reputation perception have a positive and significant effect on the intention to adopt Fintech by SMEs. The moderating effect of the environmental context in the relationship between the technological context and the intention to adopt Fintech by SMEs was partially proven, but the same was not verified in the relationship between the organizational context and the intention to adopt Fintech by SMEs. Portugal seems to be on the same adoption path as the rest of the western world, and Fintech services will undoubtedly increase, in a kind of revolution in which the strongest and those able to adapt to the markets and their needs will survive.

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Influence of digitalisation and technological innovations in the financial market on the development of the financial market

Cited by 7 publications

References 8 publications

Digital Finance, Human Capital, and Urban Innovation in Indonesia

Digital Finance, Human Capital, and Urban Innovation in Indonesia

The economic impact of the COVID-19 pandemic: Reviewing Serbian and global strategies

Fintech Services and the Drivers of Their Implementation in Small and Medium Enterprises

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