International Journal of Business and Economics Volume 23, No. 3 December, 2024

The Moderating Role of Corporate Governance between FinTech and Sustainable Development – The Case of Chinese Listed Companies in the Financial Industry

Chih-Yi Hsiao

School of Accounting and Finance, Xiamen University Tan Kah Kee College, China

Lan Wang

Business School, University of Southampton, United Kingdom

Yong-Yi Fang

School of Accounting and Finance, Xiamen University Tan Kah Kee College, China

Yu-Ping Zhang

School of Accounting and Finance, Xiamen University Tan Kah Kee College, China

Abstract

Based on the trend of Fintech development, this paper selects the Chinese listed companies in financial industry from 2011 to 2022 as the sample, and takes the empirical method to explore the correlation between corporate governance, the Fintech transformation degree and the enterprises’ development capability, and conducts a lagged test. It is found that the degree of transformation of big data, Blockchain, AI, and cloud computing will have a negatively significant impact on the enterprises’ development capabilities during the current period. The corporate governance performance with high ownership concentration will show a positively significant moderating effect between the degree of cloud computing transformation and the firms' development capability in the current and lagged one period. Furthermore, corporate governance performance will show a positively significant moderating effect between the degree of big data and AI transformation and the firms' development capability in the lagged one period. This paper also provides recommendations based on the findings.

Keywords：Fintech, Corporate Governance, Development Capability

JEL Classifications：D92, G30, M15

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