Prelims

Fintech, Pandemic, and the Financial System: Challenges and Opportunities

ISBN: 978-1-80262-948-4, eISBN: 978-1-80262-947-7

ISSN: 1569-3767

Publication date: 17 January 2023

Citation

(2023), "Prelims", Kim, S.-J. (Ed.) Fintech, Pandemic, and the Financial System: Challenges and Opportunities (International Finance Review, Vol. 22), Emerald Publishing Limited, Leeds, pp. i-viii. https://doi.org/10.1108/S1569-376720220000022017

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Emerald Publishing Limited

Copyright © 2023 Suk-Joong Kim


Half Title Page

FINTECH, PANDEMIC, AND THE FINANCIAL SYSTEM

Series Page

INTERNATIONAL FINANCE REVIEW

Series Editor: J. Jay Choi

Title Page

INTERNATIONAL FINANCE REVIEW - VOLUME 22

FINTECH, PANDEMIC, AND THE FINANCIAL SYSTEM: CHALLENGES AND OPPORTUNITIES

EDITED BY

SUK-JOONG KIM

The University of Sydney, Australia

United Kingdom – North America – Japan India – Malaysia – China

Copyright Page

Emerald Publishing Limited

Howard House, Wagon Lane, Bingley BD16 1WA, UK

First edition 2023

Editorial matter and selection © 2023 Suk-Joong Kim.

Individual chapters © 2023 The authors.

Published under exclusive licence by Emerald Publishing Limited.

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No part of this book may be reproduced, stored in a retrieval system, transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without either the prior written permission of the publisher or a licence permitting restricted copying issued in the UK by The Copyright Licensing Agency and in the USA by The Copyright Clearance Center. Any opinions expressed in the chapters are those of the authors. Whilst Emerald makes every effort to ensure the quality and accuracy of its content, Emerald makes no representation implied or otherwise, as to the chapters’ suitability and application and disclaims any warranties, express or implied, to their use.

British Library Cataloguing in Publication Data

A catalogue record for this book is available from the British Library

ISBN: 978-1-80262-948-4 (Print)

ISBN: 978-1-80262-947-7 (Online)

ISBN: 978-1-80262-949-1 (Epub)

ISSN: 1569-3767 (Series)

Contents

List of Contributors vii
Part I: An Overview
Chapter 1: An Overview of Fintech, Pandemic and the Financial System: Challenges and Opportunities
Suk-Joong Kim 3
Part II: Fintech and Pandemic
Chapter 2: Banks’ Patenting as an Answer to Emerging Fintech and Bigtech Competition: A Cross-country Empirical Study
Oskar Kowalewski and Paweł Pisany 13
Chapter 3: Digital Financial Inclusion: Its Role in Mitigating GDP Losses During the Pandemic
Chen Zheng and Zhiyue Sun 37
Chapter 4: The Role of Fintech in the Paycheck Protection Program
Blake Rayfield, Hasib Ahmed, Nicolas Duvernois and Lois Rayfield 63
Chapter 5: Gender Gap in Consumer Loan Performance: Evidence From Fintech Lending in an Emerging Economy
Tanseli Savaser, Murat Tiniç, Gunseli Tumer-Alkan and Hakki Deniz Karaman 77
Part III: Cryptocurrency and the Financial System
Chapter 6: Cryptocurrencies Meet Equities: Risk Factors and Asset-pricing Relationships
Victoria Dobrynskaya and Mikhail Dubrovskiy 95
Chapter 7: Got Crypto? Evidence from Markowitz, Kataoka, and Conditional Value-at-Risk Models
Lanqing Du, Jinwook Lee, Namjong Kim, Paul Moon Sub Choi and Matthew J. Schneider 113
Chapter 8: International Financial Regulation of Cryptoassets and Asset-backed Tokens
Sylvia Gottschalk 145
Part IV: Central Bank Digital Currency
Chapter 9: Central Bank Digital Currencies: The Motivation
Bert Van Roosebeke and Ryan Defina185
Chapter 10: A Review of the Proposed Bank of England’s “Retail” Central Bank Digital Currency (CBDC) as a Cryptocurrency Competitor
Kelly-Ann Coulter 201
Chapter 11: The Digital Euro From a Geopolitical Perspective: Will Europe Lag Behind?
Philipp Sandner and Jonas Gross 223
Part V: Economy and the Financial System
Chapter 12: The Journey of an Exchange Traded Fund: Becoming a Unicorn or Zombie
Fei Gao and Bingqiao Li 243
Chapter 13: Does Finance Benefit Society? Financial Sector Size and Labor Market Performance
Marc Steffen Rapp and Iuliia A. Udoieva 273
Chapter 14: On the Effectiveness of Capital Controls: A Synthetic Control Method Approach
Meng-Ting Chen and Richard J. Nugent III 297
Chapter 15: Determinants in the Development of Financial Centers: Evolution Around the World
Giang Phung, Ha Truong and Hai Hong Trinh 337
Index 363

List of Contributors

Hasib Ahmed Department of Accounting, Finance and Economics, Southern University and A&M College, Baton Rouge, LA, USA
Meng-Ting Chen Soochow University, Taipei City, Taiwan
Paul Moon Sub Choi College of Business Administration, Ewha Womans University, Seoul, Korea
Kelly-Ann Coulter School of Management, University College London, London, UK
Ryan Defina International Association of Deposit Insurers, Basel, Switzerland
Victoria Dobrynskaya HSE University, School of Finance, Moscow, Russian Federation
Lanqing Du Decision Sciences and MIS, LeBow College of Business, Drexel University, PA, USA
Mikhail Dubrovskiy HSE University, School of Finance, Moscow, Russian Federation
Nicolas Duvernois University of New Orleans, LA, USA
Fei Gao Singapore Institute of Technology, Singapore
Sylvia Gottschalk Middlesex University Business School, Hendon, UK
Jonas Gross Frankfurt School of Finance & Management, Frankfurt, Germany
Hakki Deniz Karaman Kadir Has University, Department of International Trade and Finance, Fatih Istanbul, Turkey
Namjong Kim Korea Institute of Finance, Seoul, Korea
Suk-Joong Kim The University of Sydney Business School, The University of Sydney, NSW, Australia
Oskar Kowalewski IESEG School of Management, Lille, France
Jinwook Lee Decision Sciences and MIS, LeBow College of Business, Drexel University, PA, USA
Bingqiao Li Singapore Institute of Technology, Singapore
Richard J. Nugent III Hydrologic Engineering Center, Institute for Water Resources, U.S. Army Corps of Engineers, CA, USA
Giang Phung ISC Paris Business School, Paris, France
Paweł Pisany Institute of Economics, Polish Academy of Sciences, Warsaw, Poland
Marc Steffen Rapp School of Business and Economics, Philipps-Universität Marburg, Marburg, Germany
Blake Rayfield WA Franke College of Business, Northern Arizona University, Flagstaff, AZ, USA
Lois Rayfield WA Franke College of Business, Northern Arizona University, Flagstaff, AZ, USA
Philipp Sandner Frankfurt School of Finance & Management, Frankfurt, Germany
Tanseli Savaser Vassar College, Department of Economics, Poughkeepsie, NY, USA
Matthew J. Schneider Decision Sciences and MIS, LeBow College of Business, Drexel University, Philadelphia, PA, USA
Zhiyue Sun School of Accounting, Economics and Finance, Curtin University, Perth, Australia
Murat Tiniç Kadir Has University, Department of International Trade and Finance, Fatih Istanbul, Turkey
Hai Hong Trinh School of Economics and Finance, Massey Business School, Massey University, Palmerston North, New Zealand
Ha Truong Department of Banking and Finance, Monash Business School, Monash University, Victoria, Australia
Gunseli Tumer-Alkan Vrije Universiteit Amsterdam, Department of Finance, Amsterdam, The Netherlands
Iuliia A. Udoieva School of Business and Economics, Philipps-Universität Marburg, Marburg, Germany
Bert Van Roosebeke International Association of Deposit Insurers, Basel, Switzerland
Chen Zheng School of Accounting, Economics and Finance, Curtin University, Perth, Australia
Prelims
Part I: An Overview
Chapter 1: An Overview of Fintech, Pandemic and the Financial System: Challenges and Opportunities
Part II: Fintech and Pandemic
Chapter 2: Banks’ Patenting as an Answer to Emerging Fintech and Bigtech Competition: A Cross-Country Empirical Study
Chapter 3: Digital Financial Inclusion: Its Role in Mitigating GDP Losses During the Pandemic
Chapter 4: The Role of FinTech in the Paycheck Protection Program
Chapter 5: Gender Gap in Consumer Loan Performance: Evidence from Fintech Lending in an Emerging Economy
Part III: Cryptocurrency and the Financial System
Chapter 6: Cryptocurrencies Meet Equities: Risk Factors and Asset-pricing Relationships
Chapter 7: Got Crypto? Evidence from Markowitz, Kataoka, and Conditional Value-at-Risk Models
Chapter 8: International Financial Regulation of Cryptoassets and Asset-Backed Tokens
Part IV: Central Bank Digital Currency
Chapter 9: Central Bank Digital Currencies: The Motivation
Chapter 10: A Review of the Proposed Bank of England’s “Retail” Central Bank Digital Currency (CBDC) as a Cryptocurrency Competitor
Chapter 11: The Digital Euro From a Geopolitical Perspective: Will Europe Lag Behind?
Part V: Economy and the Financial System
Chapter 12: The Journey of an Exchange Traded Fund: Becoming a Unicorn or Zombie
Chapter 13: Does Finance Benefit Society? Financial Sector Size and Labor Market Performance
Chapter 14: On the Effectiveness of Capital Controls: A Synthetic Control Method Approach
Chapter 15: Determinants in the Development of Financial Centers: Evolution Around the World
Index