Disruptive Innovation in Business and Finance in the Digital World.
Choi, J. Jay.
Disruptive Innovation in Business and Finance in the Digital World. - 1st ed. - 1 online resource (254 pages) - International Finance Review Series ; v.20 . - International Finance Review Series .
Intro -- DISRUPTIVE INNOVATIONIN BUSINESS AND FINANCEIN THE DIGITAL WORLD -- Contents -- List of Contributors -- PART I: DISRUPTIVE INNOVATIONAND FINTECH FIRMS -- Chapter 1: Innovation and Disruption: Industry Practices and Conceptual Bases -- 1. Introduction -- 2. Conceptual Bases -- 3. Three Mediums of Innovation -- 3.1 Artificial Intelligence -- 3.2 Financial Technology (Fintech) -- 3.3 Blockchain -- 4. Conclusions -- References -- Chapter 2: Trends in Financial Innovation: Evidence from Fintech Firms -- 1. Introduction -- 2. Literature Review -- 3. Data and Descriptive Statistics -- 3.1 Patent Data -- 3.2 Additional Data -- 4. Financial Innovation -- 5. Conclusion -- References -- PART II: ARTIFICIAL INTELLIGENCE AND TECHNOLOGICAL INNOVATON -- Chapter 3: The Economics of Big Data and Artificial Intelligence -- Introduction -- Big Data as Information Good and Intangible Asset -- Allocative Efficiency: Big Data as a Search Technology -- Big Data and the Productivity Puzzle -- Inequality Among Firms -- Inequality Among Workers -- Tech in Finance -- Conclusions -- References -- Chapter 4: A Bag of Beads Or a Necklace? Combinative Capability and Value in Technological Scope Expansions -- Introduction -- Hypotheses -- Technological Scope and Firm Value -- Technological Scope, Combinative Capability, and Firm Value -- Empirics -- Context -- Data Sources -- Sample Construction -- Variable Construction -- Dependent Variable -- Independent Variables -- Control Variables -- Empirical Methodology -- Results -- Robustness Checks -- Discussion -- Conclusions -- References -- Chapter 5: AI-Generated Corporate Environmental Data: An Event Study with Predictive Power -- Introduction -- Brief Background and Context: ESG and Financial Performance -- TVL Data Gathering and Analysis -- Methodology and Analysis -- Sample Construction -- Methodology. Empirical Results -- Robustness Tests -- Conclusions -- References -- PART III: BLOCKCHAIN AND APPLICATIONS -- Chapter 6: Overcoming Supply Chain Finance Challenges Via Blockchain Technology -- 1. Introduction -- 2. Background: What is SCF? -- 2.1 Invoice-Based -- 2.1.2 Supplier-Led Financing: Accounts Receivable Financing -- 2.2 Purchase Order-based -- 2.2.1 Pre-shipment Finance -- 2.2.2 Inventory Finance: Warehouse Receipts -- 3. What is BCT? -- 3.1 Definition of BCT -- 3.2 Blockchain-based SCF Model -- 3.3 US Regulatory Framework: Howey Test -- 4. Benefits of BCT-Based SCF -- 5. Block Chain Use Cases: Solving SCF Challenges -- 5.1 KYC and AML Requirements -- 5.2 Legal Validity of Invoices: Double Payment Risk -- 5.3 Accounting: Payables Reclassified as Bank Debt -- 5.4 Legal: Perfecting the Receivable for Securitization -- 6. Conclusion and Future Research -- Notes -- References -- Chapter 7: Can Blockchain Futureproof Supply Chains? A Brexit Case Study -- 1. Introduction -- 2. Conceptual Framework: Blockchain and Uncertainty in Trade -- 2.1. Customs Unions and Blockchain -- 2.2. Blockchain and Trade Uncertainty -- 3. Logistics -- 3.1. Border Measures -- 3.1.1. Tariff Application -- 3.2. Regulatory Compliance -- 3.3. Time -- 3.3.1. The Irish Border Question -- 4. Trade Finance -- 4.1. Expectations around Working Capital -- 4.2. Blockchain's Disruption of Trade Finance -- 5. Data Security -- 5.1. Cybersecurity -- 5.2. Data Privacy (GDPR) -- 6. Conclusion -- References -- Chapter 8: Blockchain Finance: Questions Regulators Ask -- 1. Introduction -- 2. Conceptual Framework -- 2.1. Why the Current Financial System is Inefficient -- 2.2. Defining Blockchain -- 2.3. Understanding How Blockchain Works -- 3. Promoting Blockchain -- 4. Regulatory Concern -- 5. Conclusion -- References. Chapter 9: Research on Blockchain: A Descriptive Survey of the Literature -- 1. INTRODUCTION -- 2. A Descriptive Analysis of Literature on "Blockchain" -- 3. A Survey of the Patent Literature on "Blockchain" -- 4. Discussion and Future Research -- References -- PART IV: CRYPTOCURRENCY, INITIAL COIN OFFERINGS, AND ANOMALY TRADING -- Chapter 10: Is Bitcoin Trustworthy? -- 1. Trust and Blockchain -- 2. Blockchain and Bitcoin -- 3. Trustworthiness in Ethics -- 3.1 An Account of Trustworthiness -- 3.2 Trustworthiness in Agents and Non-agents -- 3.2.1 Liability to be Trusted and Liability to be Evaluated as Trustworthy -- 3.2.2 Are Currencies Liable to be Trusted? -- 3.3 Bitcoin is Liable to be Evaluated as Trustworthy or Untrustworthy -- 4. The (Un)Trustworthiness of Bitcoin -- 4.1 Three Functions of Currencies -- 4.1.1 Medium of Exchange -- 4.1.2 Store of Value -- 4.1.3 Speculative Investment -- 4.2 Bitcoin's Distinctive Characteristics -- 4.3 Evaluation of Bitcoin's Trustworthiness -- 5. CONCLUSION -- References -- Chapter 11: The Future of Cryptotokens -- 1. Introduction -- 2. Background -- 3. Disrupting Traditional Funding Sources -- 4. Market Trends -- 5. Regulation -- 6. Case Studies -- 6.1 Ethereum -- 6.2 EOS -- 6.3 The Decentralized Autonomous Organization (DAO) -- 6.4 Dogecoin -- 6.5 Munchee -- 6.6 Property Coin -- 7. Challenges -- 8. Conclusion -- References -- Appendix -- Chapter 12: Cryptocurrency Tide and Islamic Finance Development: Any Issue? -- Introduction -- Cryptocurrency Emergence -- Types and Features -- Islamic Law (Sharīʿah) Perspectives on Cryptocurrencies -- Features of Islamic Finance Contracts -- Any Issue in Cryptocurrency Value Fluctuations vis-á-vis Islamic Finance Development? -- Conclusions -- Recommendations -- References -- Chapter 13: Bitcoin Conditional Volatility: GARCH Extensions and Markov Switching Approach. 1. Introduction -- 2. Literature Review -- 3. Data and Methodology -- 3.1 Data and Descriptive Statistics -- 3.2 Methodology -- 3.3 TARCH Model -- 3.4 E-GARCH Model -- 3.5 APARCH Model -- 3.6 Component-GARCH (CGARCH) -- 3.7 Asymmetric CGARCH (ACGARCH) Model -- 3.8 MS-AR Model -- 4. Empirical Results -- 4.1 MS-AR Model Results -- 5. Conclusions -- References -- Web Sources -- Chapter 14: Data-Driven Investigation into Anomaly Trading Strategies: Evidence with Econometrics -- 1. Introduction -- 2. Literature Review -- 3. Review of the Anomaly Strategies -- 3.1 Price-to-Earnings -- 3.2 Book-to-Market -- 3.3 Size -- 3.4 Sales Growth (Five-year Average) -- 3.5 Monthly -- 3.6 Returns (Independent Variable) -- 4. Methodology -- 4.1 Fama and MacBeth Regression -- 4.2 Panel Data Regression -- 4.3 Quantile Regression -- 4.4 The Portfolios -- 5. Results -- 5.1 Price-to-Earnings -- 5.2 Book-to-Market -- 5.3 Size -- 5.4 Sales Growth (Five-year Average) -- 5.5 Monthly Returns -- 6. Conclusion -- References.
This volume contains fourteen articles split across four parts, exploring the debate around the topics of fintech, AI, blockchain, and cryptocurrency. Featuring a cast of global contributors, this is an unmissable volume exploring the most current research on digital innovation in the financial and business worlds.
9781789733839
Financial engineering.
Electronic books.
HG1-9999
332
Disruptive Innovation in Business and Finance in the Digital World. - 1st ed. - 1 online resource (254 pages) - International Finance Review Series ; v.20 . - International Finance Review Series .
Intro -- DISRUPTIVE INNOVATIONIN BUSINESS AND FINANCEIN THE DIGITAL WORLD -- Contents -- List of Contributors -- PART I: DISRUPTIVE INNOVATIONAND FINTECH FIRMS -- Chapter 1: Innovation and Disruption: Industry Practices and Conceptual Bases -- 1. Introduction -- 2. Conceptual Bases -- 3. Three Mediums of Innovation -- 3.1 Artificial Intelligence -- 3.2 Financial Technology (Fintech) -- 3.3 Blockchain -- 4. Conclusions -- References -- Chapter 2: Trends in Financial Innovation: Evidence from Fintech Firms -- 1. Introduction -- 2. Literature Review -- 3. Data and Descriptive Statistics -- 3.1 Patent Data -- 3.2 Additional Data -- 4. Financial Innovation -- 5. Conclusion -- References -- PART II: ARTIFICIAL INTELLIGENCE AND TECHNOLOGICAL INNOVATON -- Chapter 3: The Economics of Big Data and Artificial Intelligence -- Introduction -- Big Data as Information Good and Intangible Asset -- Allocative Efficiency: Big Data as a Search Technology -- Big Data and the Productivity Puzzle -- Inequality Among Firms -- Inequality Among Workers -- Tech in Finance -- Conclusions -- References -- Chapter 4: A Bag of Beads Or a Necklace? Combinative Capability and Value in Technological Scope Expansions -- Introduction -- Hypotheses -- Technological Scope and Firm Value -- Technological Scope, Combinative Capability, and Firm Value -- Empirics -- Context -- Data Sources -- Sample Construction -- Variable Construction -- Dependent Variable -- Independent Variables -- Control Variables -- Empirical Methodology -- Results -- Robustness Checks -- Discussion -- Conclusions -- References -- Chapter 5: AI-Generated Corporate Environmental Data: An Event Study with Predictive Power -- Introduction -- Brief Background and Context: ESG and Financial Performance -- TVL Data Gathering and Analysis -- Methodology and Analysis -- Sample Construction -- Methodology. Empirical Results -- Robustness Tests -- Conclusions -- References -- PART III: BLOCKCHAIN AND APPLICATIONS -- Chapter 6: Overcoming Supply Chain Finance Challenges Via Blockchain Technology -- 1. Introduction -- 2. Background: What is SCF? -- 2.1 Invoice-Based -- 2.1.2 Supplier-Led Financing: Accounts Receivable Financing -- 2.2 Purchase Order-based -- 2.2.1 Pre-shipment Finance -- 2.2.2 Inventory Finance: Warehouse Receipts -- 3. What is BCT? -- 3.1 Definition of BCT -- 3.2 Blockchain-based SCF Model -- 3.3 US Regulatory Framework: Howey Test -- 4. Benefits of BCT-Based SCF -- 5. Block Chain Use Cases: Solving SCF Challenges -- 5.1 KYC and AML Requirements -- 5.2 Legal Validity of Invoices: Double Payment Risk -- 5.3 Accounting: Payables Reclassified as Bank Debt -- 5.4 Legal: Perfecting the Receivable for Securitization -- 6. Conclusion and Future Research -- Notes -- References -- Chapter 7: Can Blockchain Futureproof Supply Chains? A Brexit Case Study -- 1. Introduction -- 2. Conceptual Framework: Blockchain and Uncertainty in Trade -- 2.1. Customs Unions and Blockchain -- 2.2. Blockchain and Trade Uncertainty -- 3. Logistics -- 3.1. Border Measures -- 3.1.1. Tariff Application -- 3.2. Regulatory Compliance -- 3.3. Time -- 3.3.1. The Irish Border Question -- 4. Trade Finance -- 4.1. Expectations around Working Capital -- 4.2. Blockchain's Disruption of Trade Finance -- 5. Data Security -- 5.1. Cybersecurity -- 5.2. Data Privacy (GDPR) -- 6. Conclusion -- References -- Chapter 8: Blockchain Finance: Questions Regulators Ask -- 1. Introduction -- 2. Conceptual Framework -- 2.1. Why the Current Financial System is Inefficient -- 2.2. Defining Blockchain -- 2.3. Understanding How Blockchain Works -- 3. Promoting Blockchain -- 4. Regulatory Concern -- 5. Conclusion -- References. Chapter 9: Research on Blockchain: A Descriptive Survey of the Literature -- 1. INTRODUCTION -- 2. A Descriptive Analysis of Literature on "Blockchain" -- 3. A Survey of the Patent Literature on "Blockchain" -- 4. Discussion and Future Research -- References -- PART IV: CRYPTOCURRENCY, INITIAL COIN OFFERINGS, AND ANOMALY TRADING -- Chapter 10: Is Bitcoin Trustworthy? -- 1. Trust and Blockchain -- 2. Blockchain and Bitcoin -- 3. Trustworthiness in Ethics -- 3.1 An Account of Trustworthiness -- 3.2 Trustworthiness in Agents and Non-agents -- 3.2.1 Liability to be Trusted and Liability to be Evaluated as Trustworthy -- 3.2.2 Are Currencies Liable to be Trusted? -- 3.3 Bitcoin is Liable to be Evaluated as Trustworthy or Untrustworthy -- 4. The (Un)Trustworthiness of Bitcoin -- 4.1 Three Functions of Currencies -- 4.1.1 Medium of Exchange -- 4.1.2 Store of Value -- 4.1.3 Speculative Investment -- 4.2 Bitcoin's Distinctive Characteristics -- 4.3 Evaluation of Bitcoin's Trustworthiness -- 5. CONCLUSION -- References -- Chapter 11: The Future of Cryptotokens -- 1. Introduction -- 2. Background -- 3. Disrupting Traditional Funding Sources -- 4. Market Trends -- 5. Regulation -- 6. Case Studies -- 6.1 Ethereum -- 6.2 EOS -- 6.3 The Decentralized Autonomous Organization (DAO) -- 6.4 Dogecoin -- 6.5 Munchee -- 6.6 Property Coin -- 7. Challenges -- 8. Conclusion -- References -- Appendix -- Chapter 12: Cryptocurrency Tide and Islamic Finance Development: Any Issue? -- Introduction -- Cryptocurrency Emergence -- Types and Features -- Islamic Law (Sharīʿah) Perspectives on Cryptocurrencies -- Features of Islamic Finance Contracts -- Any Issue in Cryptocurrency Value Fluctuations vis-á-vis Islamic Finance Development? -- Conclusions -- Recommendations -- References -- Chapter 13: Bitcoin Conditional Volatility: GARCH Extensions and Markov Switching Approach. 1. Introduction -- 2. Literature Review -- 3. Data and Methodology -- 3.1 Data and Descriptive Statistics -- 3.2 Methodology -- 3.3 TARCH Model -- 3.4 E-GARCH Model -- 3.5 APARCH Model -- 3.6 Component-GARCH (CGARCH) -- 3.7 Asymmetric CGARCH (ACGARCH) Model -- 3.8 MS-AR Model -- 4. Empirical Results -- 4.1 MS-AR Model Results -- 5. Conclusions -- References -- Web Sources -- Chapter 14: Data-Driven Investigation into Anomaly Trading Strategies: Evidence with Econometrics -- 1. Introduction -- 2. Literature Review -- 3. Review of the Anomaly Strategies -- 3.1 Price-to-Earnings -- 3.2 Book-to-Market -- 3.3 Size -- 3.4 Sales Growth (Five-year Average) -- 3.5 Monthly -- 3.6 Returns (Independent Variable) -- 4. Methodology -- 4.1 Fama and MacBeth Regression -- 4.2 Panel Data Regression -- 4.3 Quantile Regression -- 4.4 The Portfolios -- 5. Results -- 5.1 Price-to-Earnings -- 5.2 Book-to-Market -- 5.3 Size -- 5.4 Sales Growth (Five-year Average) -- 5.5 Monthly Returns -- 6. Conclusion -- References.
This volume contains fourteen articles split across four parts, exploring the debate around the topics of fintech, AI, blockchain, and cryptocurrency. Featuring a cast of global contributors, this is an unmissable volume exploring the most current research on digital innovation in the financial and business worlds.
9781789733839
Financial engineering.
Electronic books.
HG1-9999
332