O desempenho financeiro das fintechs ibéricas
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Tipo de documento: | Dissertação |
Idioma: | por |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.22/19602 |
Resumo: | Considering the significant growth of fintechs and their ecosystem in the Iberian market, it is becoming increasingly important to understand this new industry and analyze its financial performance. For this reason, and in order to overcome the shortage of research in this area applied to fintechs, it becomes pertinent to study the determinants that can impact the fintech’s profitability. Therefore, the main objective of this dissertation was to analyze the profitability determinants of Iberian companies in the fintech sector, for a period between 2013 and 2019. This study was based on a sample of 126 Iberian fintech companies, 25 Portuguese companies and 101 Spanish companies, for which the GMM (Generalized Method of Moments), FE (Fixed Effects) and pooled OLS (Ordinary Least Squares) methods were applied. The main results obtained suggest that leverage has a negative impact on the profitability of Iberian fintechs when measured by ROA, but a positive impact when measured by ROE. Furthermore, it was found that the location has a relative influence on profitability: being a Portuguese or Spanish fintech presents different impacts on its profitability. However, the size, firm age and inflation rate have not been shown to impact ROA and ROE. Regarding debt structure, growth and GDP rate, divergent results were obtained in the econometric models. |
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O desempenho financeiro das fintechs ibéricasFintechDeterminantes da rentabilidadeROAROEDeterminants of profitabilityEconomiaConsidering the significant growth of fintechs and their ecosystem in the Iberian market, it is becoming increasingly important to understand this new industry and analyze its financial performance. For this reason, and in order to overcome the shortage of research in this area applied to fintechs, it becomes pertinent to study the determinants that can impact the fintech’s profitability. Therefore, the main objective of this dissertation was to analyze the profitability determinants of Iberian companies in the fintech sector, for a period between 2013 and 2019. This study was based on a sample of 126 Iberian fintech companies, 25 Portuguese companies and 101 Spanish companies, for which the GMM (Generalized Method of Moments), FE (Fixed Effects) and pooled OLS (Ordinary Least Squares) methods were applied. The main results obtained suggest that leverage has a negative impact on the profitability of Iberian fintechs when measured by ROA, but a positive impact when measured by ROE. Furthermore, it was found that the location has a relative influence on profitability: being a Portuguese or Spanish fintech presents different impacts on its profitability. However, the size, firm age and inflation rate have not been shown to impact ROA and ROE. Regarding debt structure, growth and GDP rate, divergent results were obtained in the econometric models.Devido ao acentuado crescimento das fintechs e de seu ecossistema no mercado ibérico, se torna cada vez mais importante entender essa nova indústria e analisar seu desempenho financeiro. Por este motivo, e com a finalidade de suprir a falta de investigação nesta área aplicada as fintechs, tornou-se pertinente estudar os fatores determinantes que podem impactar sua rentabilidade. Portanto, o principal objetivo desta dissertação consistiu em analisar os fatores determinantes da rentabilidade das empresas ibéricas do setor fintech, para um período compreendido entre 2013 e 2019. O presente estudo teve por base uma amostra de 126 empresas fintechs ibéricas, sendo 25 empresas portuguesas e 101 empresas espanholas, para qual foram aplicados os métodos GMM (Generalized Method of Moments), FE (Fixed Effects) e pooled OLS (Ordinary Least Squares). Os principais resultados obtidos sugerem que o endividamento tem um impacto negativo na rentabilidade das fintechs ibéricas, quando medida pelo ROA, e um impacto positivo quando medida pelo ROE. Pode-se verificar que o país tem relativa influência na rentabilidade, ou seja, ser uma fintech portuguesa ou espanhola apresenta diferentes impactos sua rentabilidade. Entretanto, a dimensão, antiguidade e a taxa de inflação não mostraram impactar o ROA e o ROE. No que se refere a estrutura da dívida, crescimento e taxa do PIB, foram obtidos resultados divergentes nos modelos econométricos.Silva, Armando Mendes Jorge Nogueira daRepositório Científico do Instituto Politécnico do PortoSantos, Larissa Medeiros2022-01-21T14:52:31Z2021-11-252021-11-25T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10400.22/19602TID:202891925porinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-13T13:14:17Zoai:recipp.ipp.pt:10400.22/19602Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:39:40.253132Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
O desempenho financeiro das fintechs ibéricas |
title |
O desempenho financeiro das fintechs ibéricas |
spellingShingle |
O desempenho financeiro das fintechs ibéricas Santos, Larissa Medeiros Fintech Determinantes da rentabilidade ROA ROE Determinants of profitability Economia |
title_short |
O desempenho financeiro das fintechs ibéricas |
title_full |
O desempenho financeiro das fintechs ibéricas |
title_fullStr |
O desempenho financeiro das fintechs ibéricas |
title_full_unstemmed |
O desempenho financeiro das fintechs ibéricas |
title_sort |
O desempenho financeiro das fintechs ibéricas |
author |
Santos, Larissa Medeiros |
author_facet |
Santos, Larissa Medeiros |
author_role |
author |
dc.contributor.none.fl_str_mv |
Silva, Armando Mendes Jorge Nogueira da Repositório Científico do Instituto Politécnico do Porto |
dc.contributor.author.fl_str_mv |
Santos, Larissa Medeiros |
dc.subject.por.fl_str_mv |
Fintech Determinantes da rentabilidade ROA ROE Determinants of profitability Economia |
topic |
Fintech Determinantes da rentabilidade ROA ROE Determinants of profitability Economia |
description |
Considering the significant growth of fintechs and their ecosystem in the Iberian market, it is becoming increasingly important to understand this new industry and analyze its financial performance. For this reason, and in order to overcome the shortage of research in this area applied to fintechs, it becomes pertinent to study the determinants that can impact the fintech’s profitability. Therefore, the main objective of this dissertation was to analyze the profitability determinants of Iberian companies in the fintech sector, for a period between 2013 and 2019. This study was based on a sample of 126 Iberian fintech companies, 25 Portuguese companies and 101 Spanish companies, for which the GMM (Generalized Method of Moments), FE (Fixed Effects) and pooled OLS (Ordinary Least Squares) methods were applied. The main results obtained suggest that leverage has a negative impact on the profitability of Iberian fintechs when measured by ROA, but a positive impact when measured by ROE. Furthermore, it was found that the location has a relative influence on profitability: being a Portuguese or Spanish fintech presents different impacts on its profitability. However, the size, firm age and inflation rate have not been shown to impact ROA and ROE. Regarding debt structure, growth and GDP rate, divergent results were obtained in the econometric models. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-11-25 2021-11-25T00:00:00Z 2022-01-21T14:52:31Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
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info:eu-repo/semantics/masterThesis |
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masterThesis |
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publishedVersion |
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http://hdl.handle.net/10400.22/19602 TID:202891925 |
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http://hdl.handle.net/10400.22/19602 |
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TID:202891925 |
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por |
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por |
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info:eu-repo/semantics/openAccess |
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openAccess |
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application/pdf |
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reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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