What FinTech Can Learn from High-Frequency Trading: Economic Consequences, Open Issues and Future of Corporate Disclosure

Monaco, Eleonora

doi:10.1007/978-3-030-02330-0_4

Cited by 5 publications

(2 citation statements)

References 55 publications

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“…(2016)-is beyond the scope of this section, it is relevant to note the ever-growing role of financial trading automation through algorithms (Monaco 2019), and the new spaces for the understanding of human moral agency in setting and using these algorithms in finance (Rocchi 2019b). Aziz and Dowling, for example, highlight the role of human supervision and intervention at different stages of automated processes, and point out that, "when it comes to AI, where there is some or full automation of process from data gathering to decisionmaking, the need for human oversight will become even more pressing" (Aziz and Dowling 2019: 46).…”

Section: Technological Challenges and Moral Agencymentioning

confidence: 99%

Can Finance Be a Virtuous Practice? A MacIntyrean Account

2020

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Finance may suffer from institutional deformations that subordinate its distinctive goods to the pursuit of external goods, but this should encourage attempts to reform the institutionalization of finance rather than to reject its potential for virtuous business activity. This article argues that finance should be regarded as a domain-relative practice (Beabout 2012; MacIntyre 2007). Alongside management, its moral status thereby varies with the purposes it serves. Hence, when practitioners working in finance facilitate projects that create common goods, it allows them to develop virtues. This argument applies MacIntyre’s widely acknowledged account of the relationship between practices and the development of virtues while questioning some of his claims about finance. It also takes issue with extant accounts of particular financial functions that have failed to identify the distinctive goods of financial practice.

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Section: Technological Challenges and Moral Agencymentioning

confidence: 99%

Can Finance Be a Virtuous Practice? A MacIntyrean Account

2020

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“…The system enabled Merrill Lynch to capture 90% of the investment account market within the first year of operation [30]. Other examples include Fuster et al [31] who examined FinTech improving the productivity of mortgage lending, in Monaco [32] high frequency trading and FinTech are discussed and their impact on market structures (such as trading volume and market orders).…”

Section: Related Literature and Motivation Of Studymentioning

confidence: 99%

FinTech revolution: the impact of management information systems upon relative firm value and risk

Karathanasopoulos

2020

J BANK FINANC TECHNOL

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The FinTech or ‘financial technology’ revolution has been gaining increasing interest as technologies are fundamentally changing the business of financial services. Consequently, financial technology is playing an increasingly important role in providing relative performance growth to firms. It is also well known that such relative performance can be observed through pairs trading investment. Therefore pairs trading have implications for understanding financial technology performance, yet the relationships between relative firm value and financial technology are not well understood. In this paper we investigate the impact of financial technology upon relative firm value in the banking sector. Firstly, using pairs trade data we show that financial technologies reveal differences in relative operational performance of firms, providing insight on the value of financial technologies. Secondly, we find that contribution of relative firm value growth from financial technologies is dependent on the specific business characteristics of the technology, such as the business application and activity type. Finally, we show that financial technologies impact the operational risk of firms and so firms need to take into account both the value and risk benefits in implementing new technological innovations. This paper will be of interest to academics and industry professionals.

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