Financial Innovation, Financial Patents and Business Performance: An Empirical Study on the Banking Industry in Taiwan

Abstract

There have been a lot of discussions on financial patents abroad, while the number of domestic fintech patent applications is still small. In view of the past research on financial innovation and financial patents on company performance, the results are inconsistent. Therefore, in this study, a panel data model of the impact of financial innovation and financial patents on business performance in Taiwan's banking industry from 2005 to 2020 is constructed, and the performance determinants of financial innovation and financial patents are further explored. This study also uses the data envelopment analysis (DEA) to distinguish between those who have invested in financial patents and those who have not and compares the difference between their efficiency. Finally, the sample is divided into public and private banks, and financial holding and non-financial holding banks to further examine the differences in the influencing factors of the sub-samples. The results show that non-financial holding banks continue to improve their technical efficiency to keep up with the fierce competition in the banking industry.

Examining XBRL Adoption Process of Four Regulators using the Diffusion of Innovation Theory on Organisational Context: A Malaysian Evidence

“…Then, there is the persuasion process that shown that the individual is interested in the innovation and actively seeks related information(Rogers, 2003). The second phase focuses on the decision-making process which taking the concept of change and weighing the advantages/disadvantages of using the innovation and deciding whether to adopt or reject an innovation(Depietro et al, 1990;Rogers, 2003;Effiong, 2022;Liu, 2022). Finally,Rogers (2003) defined XBRL implementation as the individual also determines the usefulness of the innovation and might search for further information about it Depietro et al (1990).…”