Impact of Pandemic Outbreak and Targeted Required Reserve Ratio Cut Policy on Stock Return Rate: Evidence from China

This study analyzed the impact of COVID-19 outbreak and targeted required reserve ratio cut policy on stock returns of Chinese listed companies. This paper uses the data of 3,449 A-share listed companies from February 3, 2020 to December 31, 2020 for research, the empirical results showed that stock prices of private enterprises with stronger debt-paying ability and looser financing constraints, and state-owned enterprises with less supply chain credit risks performed better, in the central and western regions, enterprises with stronger solvency and looser financing constraints have better stock price performance during the early stages of pandemic. After the implementation of the targeted RRR cut policy, the stock prices of enterprises with poor solvency, private enterprises, and enterprises in central and western regions with strong financing constraints, state-owned enterprises, and enterprises in eastern region with high credit risks all showed significant reversals, and the stock prices reflected the effect of the targeted RRR cut policy in the short and medium term. Over time, the pandemic has been controlled, and the resumption of work and production has freed most enterprises from financial difficulties. However, due to sporadic outbreaks, large private enterprises and eastern enterprises with strong risk resistance and loose financing constraints enjoy better stock price performance. This study is helpful for enterprises to understand the value of financial flexibility and solvency and provides a reference for enterprises to make financial decisions: how to balance the benefits and costs of solvency. © Tian Wang, Fang Fang and Linhao Zheng, 2023.

Housing inequalities and resilience: the lived experience of COVID-19

COVID-19 policy responses have intensified the use of housing as a spatial and material defence against community spread of infection. In so doing, they have focussed attention upon pre-existing inequalities and the effects of socio-economic management of COVID-19. This paper draws upon individual households' accounts to explore these effects on housing inequalities, and then adapts a critical resilience framework from disaster response in order to examine the implications for policymaking. The empirical work centres upon a case study of lived experiences of COVID-19-constrained conditions, based on a longitudinal-style study combining semi-structured interviews with 40 households, photographs and household tours at two datapoints (before/during COVID-19) in Victoria, Australia. The study reveals how these households were impacted across four domains: (1) employment, finances, services, and mobilities;(2) homemaking including comfort and energy bills, food and provisioning, and home-schooling/working from home;(3) relationships, care and privacy, and;(4) social, physical and mental health. The interviews also indicate how households coped and experienced relief payments and other related support policies during COVID-19. Drawing upon literature on disaster response, we highlight the centrality of vulnerability and resilience in recognising household exposure and sensitivity to COVID-19, and capabilities in coping. From this analysis, gaps in COVID-19 housing and welfare policy are exposed and guide a discussion for future housing policy interventions and pandemic planning.

Timely and well-targeted financial help during COVID-19: an employer-community partnership for hotel workers in New Orleans

Economic disruptions related to the COVID-19 pandemic left many households without the income necessary to meet basic needs. We describe an innovative, community-based partnership between a financial services company, philanthropic funders, and employers to provide financial assistance to hotel workers in New Orleans who lost jobs and income due to the COVID-19 pandemic. Results from a survey of 1,056 hotel workers show that workers experienced lower food insecurity and difficulty paying bills in the month after receiving assistance, while transaction data from the VISA gift cards used to disburse assistance showed that workers mostly used assistance on necessities. We discuss implications for employers who want to offer emergency assistance fund programs and for public policy changes to better support low-wage workers, especially those with children.

Geospatial features of the banking infrastructure of the Western region of Ukraine

The article deals with the geospatial features of the banking infrastructure, which is a component of the financial infrastructure. Indirect financing infrastructure forms one of two groups of financial infrastructure. These patterns are characterized. The banking infrastructure is the most developed component of the financial infrastructure not only in the studied region, but also at the national and global levels. Regional factors, along with national and global trends, influence the particular development of the components of the financial network. Today, the development of the regional banking infrastructure has a great impact on the economic development of the region, as other components of the financial infrastructure are developing more slowly. Historical and geographic factors especially distinguish the Western region of Ukraine from others. The influence of historical preconditions that led to the formation of banks, which are a special type of financial and credit institutions, is assessed. This forms the basis for growth in the financial services market. Banking institutions are characterized by universality among other components of the monetary infrastructure. Banking infrastructure plays an important role in the financial sector and is pervasive in all spheres of geospace in today's globalized world. Demographic and socio-geographic factors in the regions of the Western region of Ukraine are taken into account. The impact of international experience and local government reform was assessed. The patterns of uneven development at the regional level are characterized. The unevenness of financial flows of capital and the share of investments were revealed. The impact of Covid-19 pandemic effects and quarantine restrictions on elements of the banking infrastructure has been assessed. The observation period covers 2016, 2018, and 2021. The statistics collected in 2020 are not taken into account. The main reason is that 2020 was the beginning of the Covid-19 pandemic and most of the departments were operating in special modes or were temporarily closed.

On the Accessibility of Financial Services and Income Inequality: An International Perspective

Income inequality has long been an important issue in development economics. Ap-plying international data from 119 countries between 2004 and 2018, this study discusses the relationship between the accessibility of financial services and income inequality. Using the den-sity of the bank branch network to represent the accessibility of financial services, we discover that income inequality is negatively related to the accessibility of financial services, especially in less developed countries and regions. In this nexus, the poverty ratio serves as an intermediary variable. The significance of the nexus is weaker in countries where fintech is more popularized, indicating the substitution effect between fintech and traditional banking services. Nevertheless, the substitution effect is limited, and bank branches will keep playing an important role in deliv-ering financial services. For countries with inadequate banking services, bank branches should be increased to encourage residents to participate in the financial system, while it is no longer necessary to add a large number of branches in countries where fintech has been popularized. Faced with the trend of financial digitalization and the economic shock caused by the COVID-19 pandemic, banks should launch more online services and increase intelligent machines in the branches. By doing so, financial services are more resilient to social changes, so as to alleviate the inequality of income distribution in the long term.

Adoption of FinTech services amidst COVID-19 pandemic: empirical evidence from Assam

PurposeThe paper intends to comprehend the pattern of usage of FinTech services among bank customers during the COVID-19 pandemic. The paper also examines the factors influencing the adoption of FinTech services by using the constructs from the technology acceptance model (TAM) together with highlighting the issues faced in using FinTech services in Assam.Design/methodology/approachThe research is empirical in nature. Data have been collected from 1,066 prime earners of the households having a bank account.FindingsThere has been an upsurge in the use of FinTech services in the area of study. Apart from government and private service employees, businessmen, self-employed professionals, many daily-wage earners and agriculturists have also experienced an increase in their frequency of usage of FinTech services thereby making technology-based financial services an indispensable tool in enhancing access, improving inclusivity in the times of crisis and aftermath. Government support, trust, perceived usefulness (PU), attitude and social influence have a positive influence on FinTech adoption;however, perceived risks impact respondents' trust towards FinTech services thereby requiring necessary measures to evaluate organizations' preparedness to deal with cyber threats.Originality/valueThe paper provides insight into the factors impacting the adoption of FinTech services to stimulate superior connectivity infrastructure, robust security measures and maintaining financial stability with adequate supervisory and monitoring regulations to enhance trust towards FinTech services during the crisis and aftermath.

Continuance intention in financial technology: a framework and meta-analysis

PurposeAlthough many studies have sought to address the topic of continuance intention among Fintech customers, the reported findings are fragmented. Therefore, the present study proposes a research model that integrates the main constructs involved in Fintech continuance intention.Design/methodology/approachThe current study uses a meta-analytic-based correlation analysis of effect sizes, meta-regression analysis and meta-analytic structural equation modeling, with 247 effect sizes in 69 studies involving 26,140 respondents.FindingsThe results reveal continuance intention is driven by satisfaction and trust, with ease of use and usefulness being antecedents of satisfaction and trust. The authors also found evidence to show satisfaction partially mediates the relationship between ease of use and continuance intention and that trust fully mediates the relationship between ease of use and continuance intention and partially mediates the relationship between usefulness and continuance intention. In addition, the authors found that in Western countries, with higher Human Development Index levels and greater of use of electronic payment, satisfaction has more impact on continuance intention.Practical implicationsFrom a theoretical standpoint, this meta-analytic study has implications for the literature on Fintech by offering an empirical generalization on the strength of the antecedents of Fintech continuance intentions and by testing possible moderators in a wide range of countries and studies. In other words, this study's goal is to broaden the scope of the research. Regarding managerial implications, it is important to listen to user opinions regarding the positive and negative points of their experience with these technologies and take them into consideration when planning improvements. Additionally, the analysis shows the importance of using data from user interaction with technology, obtained, for example, through big data analytics, whereby companies can see how users behave, how much time they spend accessing certain functions and which technological features they use most, and thus seek to improve whatever is needed.Originality/valueThis meta-analytic study advances the understanding of Fintech continuance intentions. Using the proposed approach, it is possible to generate accurate estimates of the effect size of each analyzed antecedent as the meta-analytic method jointly evaluates the results produced by a wide variety of studies performed in different contexts, allowing more accurate conclusions to be drawn.

India and Covid-19: decisive but controversial actions seem to be working

A disclaimer to start with: in a federal union of 1.3 billion persons comprising 17 per cent of humankind, 36 states and territories, multiple languages and ethnic groups, few if any observations are valid across the whole country. Democracies find it hard to make tough decisions and to adapt when they need to improvise without precedents;pre-emption to tackle a problem before it becomes a crisis is never a democratic strength, especially in a federation. India took relatively early steps against Covid-19: visas were rescinded on March 18;international flights stopped on March 22;and domestic flights were terminated on March 24. Prime Minister Narendra Modi called for a 12-h nation-wide voluntary curfew on 22 March, marked with high observance, which was a dress rehearsal for a full lock-down from 24 March for 21 days with relaxations for medicines, media, banks and groceries. The national closure was the most comprehensive in history. At that stage, India had registered 500 cases and 10 deaths. The trade-off was to lose lives to Covid-19, or gain time to prepare health services and risk the economic consequences. Modi acted quickly although it caused hardship to millions. By and large, the lockdown was observed, justifying the theory that Indians react best in emergency mode.

The Relationship Between Financial Indicators and Financial Intermediaries' Stock Price Volatility Listed on the BM&FBOVESPA Index in the Crisis Period of 2008 and 2020 (Covid-19): GCG

The study goal was to verify the relationship among financial indicators and intermediaries' volatility stock price listed on the BM&FBovespa Index in the crisis period from 2008 and 2020 (COVID-19). The methods used for analysis were Spearman's correlation, multiple linear regression, and Test T. The analyzed period refers to the year 2008, the second semester of 2019 and the first semester of 2020, which include the periods before and during the crises of 2008 and 2020. The results found show that only the indicator of the assets total turnover rate has a significant relationship with the stock price volatility.Alternate :O estudo tem como objetivo verificar a relação entre os indicadores com a volatilidade das ações das intermediadoras financeiras listadas no Índice BM&FBovespa no período das crises de 2008 e 2020 (COVID-19). Os métodos utilizados para análise foram de correlação de Spearman, regressão linear múltipla e Teste T. O período analisado refere-se ao ano de 2008, segundo semestre de 2019 e primeiro semestre de 2020, onde englobam os períodos pré e durante as crises de 2008 e 2020. Os resultados encontrados apontam que apenas o indicador taxa total de rotatividade dos ativos possui relação significativa com a volatilidade do preço das ações.Alternate :El estudio tiene como objetivo verificar la relación entre los indicadores y la volatilidad de las acciones de los intermediarios financieros listados en el Índice BM&FBovespa en el período de las crisis de 2008 y 2020 (COVID-19). Los métodos utilizados para el análisis fueron la correlación de Spearman, la regresión lineal múltiple y la prueba T. El período analizado se refiere al año 2008, la segunda mitad de 2019 y la primera mitad de 2020, que incluyen los períodos antes y durante las crisis de 2008 y 2020. Los resultados encontrados indican que solo el indicador de tasa de rotación de activos totales tiene una relación significativa con la volatilidad del precio de las acciones.

Digital Inclusive Finance, Financing Constraints, and Technological Innovation of SMEs—Differences in the Effects of Financial Regulation and Government Subsidies

Deepening the development of digital inclusive finance, dredging the impact of digital inclusive finance on the innovation path of small and medium-sized enterprises (SMEs), and strengthening financial supervision and government support are of great significance to promoting the technological innovation of SMEs. This paper selects listed companies on the New Third Board as research samples and analyzes and empirically tests the relationship between digital inclusive financial and technological innovation of small and medium-sized enterprises. The results show that digital inclusive finance can significantly promote the technological innovation level of SMEs, especially the higher the degree of digitalization, the more obvious the promotion effect. Upon further testing, it was more pronounced in the sample of high-tech industries and eastern SMEs. Digital inclusive finance can effectively alleviate the financing constraints of SMEs, thereby promoting the technological innovation of SMEs. Reasonable financial supervision and adaptive government subsidies have a positive regulating effect on the innovation incentive effect of digital inclusive finance.

Impact of COVID-19 and government interventions on Bursa Malaysia sectors

PurposeThe purpose of this paper is to examine the influence of the daily growth in confirmed COVID-19 cases in Malaysia and government interventions on the daily returns of financial times stock exchange Bursa Malaysia Kuala Lumpur Composite Index (FBMKLCI) and eight selected Bursa Malaysia sectorial indices for the period January 29, 2020 to March 31, 2021.Design/methodology/approachThis paper adopts the multivariate generalized autoregressive conditional heteroscedasticity model to determine the effects for the entire study period and four sub-periods, i.e. pre-government intervention, movement control order (MCO), conditional MCO (CMCO) and recovery MCO phases.FindingsThis paper finds no evidence of the effect of the daily growth in confirmed COVID-19 cases on the returns of FBMKLCI and eight Bursa Malaysia sectorial indices for the full study period. However, the former has exerted different effects over the four sub-periods. Sectors that are positively affected for the MCO period are financial services and real estate investment trust. Yet, these sectors are negatively affected for the CMCO period along with the industrial products and services and technology sectors. Sectors that consistently demonstrate statistically insignificant results are construction, energy, plantation and utilities.Originality/valueThis study makes an initial attempt to investigate the influence of the COVID-19 pandemic on the returns of Bursa Malaysia sectorial indices over different phases of government interventions in Malaysia.

Analysis of Factors Affecting MSME in Using Fintech Lending as Alternative Financing: Technology Acceptance Model Approach

This study aims to determine factors impacting the intention of Micro, Small, and Medium Enterprises (MSMEs) in using fintech lending applications as an optional source of business financing using the technology acceptance model approach. The population in this study were MSMEs in Indonesia. Samples were taken by purposive sampling with the criteria of having used a licensed fintech lending application for business financing. The samples used were 171 samples. This study used structural equation model (SEM) as the analysis technique. The results of this study showed that Perceived Ease of Use had an impact on Perceived Usefulness but had no effect on Attitude Toward Using. The factor Perceived Usefulness had an effect on Attitude Toward Using, and Attitude Toward Using influences Behavioral Intention to Use. Fintech companies can play a role by providing education and empowerment to foster understanding of digital literacy for MSME stakeholders. The governments need to develop policy frameworks that can balance innovation and risk mitigation.

Do the macro and global economic factors drive the nonperforming loans in GCC economies?

PurposeThe current study aims to investigate the determinants of nonperforming loans (NPLs) in the GCC economies during the period spanning 2000 to 2018. It also examines whether the worldwide financial crisis of 2007–2008, which brought the issue of non–performing loans to the greater attention of academics and policymakers, had a substantial impact on NPLs in this region.Design/methodology/approachThe sample consists of 53 conventional banks from GCC countries, and the basic data for the study is obtained from various sources such as Bankscope, IMF World Economic Outlook, World Bank and Chicago Board of Options Exchange Market Volatility Index. The estimations were done by dynamic panel data regression modeling using system generalized methods of moments.FindingsThe findings reveal that both, the non-oil real GDP growth rate and inflation have favorable effects on NPLs. On the other hand, domestic credit to the private sector and the volatility index have an adverse effect on NPLs. Furthermore, the period-wise analysis shows that the relevance and significance of the determinants of NPLs vary between the precrisis and postcrisis periods. It is also reflected through the intercept dummy, which is found to be significant, indicating that the financial crisis, as a global economic factor, had a significant impact on NPLs. A number of robustness tests are applied, which indicate that the results are mostly robust and consistent in terms of the significance of the explanatory variables and the direction of their relationship with the dependent variable.Practical implicationsPolicymakers and bank authorities must strive to maintain a healthy economy and implement macroprudential policies to improve the financial stability of banks and reduce credit risk.Originality/valueTo the best of the authors' knowledge, this is likely the first study that empirically investigates the influence of the financial crisis on NPLs in the context of GCC economies. In addition, the research spans 19 years to produce more conclusive results.

Micro Finance in India - Emerging Challenges

For promoting financial inclusion in India, both banks and Non-Banking Finance Companies - Micro Finance Institutions (NBFC-MFIs) play a pivotal role by providing microfinance to individuals and tiny enterprises. There are 187 lending institutions in India engaged in providing microfinance of more than Rs.2.27 lakh crore. Today, microfinance activity is more technology driven to ensure adequate, timely and hassle free financial services. During the Covid-19 pandemic, the sector suffered significantly due to lack of demand for credit and increasing loan defaults. Hence, RBI announced certain measures including debt restructuring to provide relief for stressed micro loan customers and creating more liquidity in the market. Post the pandemic, there are enough business opportunities for the microfinance sector to prosper. However, the age old issues such as lack of due diligence in lending, over-indebtedness and multiple borrowing by customers and unethical recovery practices need to be addressed. Therefore, there is a need to make microfinance activity more digital, promote financial literacy, strengthen risk management systems, upgrade skills of the field level staff and formulate an effective grievance redressal system. Towards this end, the article attempts to review the performance of the microfinance sector at a time when India is currently celebrating the 75th year of Independence and offer suggestions to strengthen the microfinance sector in the country.

Micro- and small-sized enterprises' willingness to borrow via internet financial services during coronavirus disease 2019

This paper explores the relationships among micro- and small-sized enterprises' (MSEs) willingness to borrow from internet financial services (IFS) and the related impacts of coronavirus disease 2019 (COVID-19) and then analyses the mediating effects of their beliefs on the advantages and disadvantages of IFS. We further analyse the differences produced by the moderator effects of MSEs' enterprise variables (sector, operating years, entrepreneur's education, profit margin, and employee number) on the above relationships. We collected 632 valid reports by developing an online questionnaire in China and employing judgement sampling of MSEs with fewer than 50 employees and annual operating income less than RMB 5 million. Then, we analysed the findings with partial least squares structural equation modelling. The results show that COVID-19 significantly impacted most Chinese MSEs and that most Chinese MSEs tend to borrow via IFS, but the amount and period of MSEs' willingness to borrow should not be affected by the impacts of COVID-19 on MSEs. Rather, the explanation concerns the greater unfamiliarity or uncertainty concerning IFSs relative to traditional financial instruments. Moreover, MSEs' understanding of IFS's advantages and disadvantages has significant adverse mediating effects on the relationship between MSEs' willingness to borrow via IFS and the impacts of COVID-19. Furthermore, the enterprise variables of MSEs, namely, their industry type, entrepreneur's education, number of employees, profit margin, and operating years, have significant moderating effects on these relationships. The results have implications for the government's comprehensive supervision system for IFS risks, IFS firms' enterprise performance, risk survey, and information disclosure systems, and the development of customer-specific and easy-to-use marketing strategies for IFS firms. (PsycInfo Database Record (c) 2023 APA, all rights reserved)

АНАЛІЗ ТЕНДЕНЦІЙ РОЗВИТКУ ГРОШОВО-КРЕДИТНОЇ СИСТЕМИ УКРАЇНИ

Bid устшност'1 фуищоиуваиия иацоиально!' грошово-кредитноi системи залетать ефективнсть органiзацľí в Kpami грошового обгу, девостi проведения заходв монетарного регулюваиия з боку центрального банку кроши i мотливкть задовольняти потреби спотивачв у р'вномаштиих иих ф'шансових послугах, а такот дieвiсть заход'ю щодо вдбудови иaшоiекоиомiкu у повоенний пер'юд i мотливкть нормального функцюнування в умовах военного стану. Метою статт'> е аналв теиденцй розвитку гpошово-кpедитиоi системи Украши, визначення етапв ii становления, а такот осиовиих проблем у поточний пер'юд. У робот'1 дотдтено становления та етапи розвитку грошово-кредитно!'системи в Укра'щ а саме визначено так ключов'! етапи: з 1991 р. - започаткування шституцшного становления грошово-кредитно!'системи;з 1996р. - введения иацюиальио!грошовоi одииицр з 1999 р. - подолання свтово!' фiиaисовоi кризи 1998 р. та розбудова нацонально!'грошово-кредитно!' системи;з 2009 р. - подолання наслдкв свтово!' фiиaисовоi кризи 2008 р.;з 2015 р. - подолання наслдкв росшсько-укра'шсько!' вiйии 2014 р.;з 2020 р. - подолання наслдкв свтово!' фiиaисовоi кризи 2019 р., прискореноi пандемею коpоиaвipусу;з 2022 р. - стабмвацю та подолання иаслдкв активно!' фази агресн роси проти Украши. Проаналвовано деяк ключовi показники, що характеризують грошово-кредитну систему кра'ши, а саме: дииaмiку грошово!' бази кра'ши, змии обл'шово!'ставки, щорчний прирст шдексу спотивчих цш, дииaмiку к'шькоmi дючих банюв та !'х активв, дииaмiку та структуру кредитв, що иaдaиi баиквськими установами, змiии pеитaбельиостi активв та катталу банквських установ. Проаналзовано основнi ризики та причини !'х виникнения у гpошово-кpедuтиiй системi Украши пд час вiйии. Визначено основнi поточи проблеми грошово-кредитно!' системи Украши у военний перод, а такот запропоновано деяк напрями !'х подолання. Запропоновано для оздоровления баиквського сектора вивести з ринку иедiездaтиi банки;для забезпечення шфляцшио!' стaбiльиостi иеобхдио забезпечити повернення до реалзацк полiтики iифляцiйиого таргетуваиия;для вдбудови економки, зокрема реального сектора, необхдно пом'якшити вимоги регулюваиия кредитио!'дяльиостi, впровадтувати нструменти цльового стимулювання кредитно! aктивиостi банквських установ.Alternate :The successful functioning of the national monetary system determines the efficiency of the country's money circulation, the effectiveness of monetary regulation measures taken by the country's central bank, and the ability to meet the needs of consumers for various financial services, as well as the effectiveness of measures to rebuild our economy in the post-war period and the ability to function normally under martial law. The purpose of the article is to analyze the trends in the development of the monetary system of Ukraine, to identify the stages of its formation along with the main problems in the current period. The publication examines the formation and stages of development of the monetary system in Ukraine, namely, identifying the following key stages: since 1991 - the beginning of the institutional formation of the monetary system;since 1996 - introduction of the national currency;since 1999 - overcoming the global financial crisis of 1998 and further development of the national monetary system;since 2009 - overcoming the consequences of the global financial crisis of 2008;since 2015 - overcoming the consequences of the russian-Ukrainian war of 2014;since 2020 - overcoming the consequences of the global financial crisis of 2019, accelerated by the coronavirus pandemic;since 2022 - stabilization and overcoming the consequences of the active phase of russia's aggression against Ukraine. Some key indicators characterizing the country's monetary system are analyzed, namely: the dynamics of the country's monetary base, changes in the discount rate, annual growth in the consumer price index, dynamics of the number of operating banks and their assets, dynamics and structure of loans granted by banking institutions, changes in the return on assets and capital of banking institutions. The main risks and causes of their occurrence in the monetary system of Ukraine during the wartime are analyzed. The main current problems of the monetary system of Ukraine in the wartime period are identified, and some directions for overcoming them are proposed. It is proposed that in order to sanitize the banking sector, it is necessary to withdraw insolvent banks from the market;to ensure inflationary stability, it is necessary to ensure a return to the implementation of inflation targeting policy;to restore the economy, in particular the real sector, it is necessary to ease the requirements for regulating loaning activity, to introduce instruments for targeted stimulation of loaning activity of banking institutions.

Adoption factors in digital lending services offered by FinTech lenders

Research background: Traditional financial institutions are facing new competitors - FinTech lenders. The development of these entities and their services depends on many factors, including the level of their acceptance and use by potential and/or current customers. This acceptance determines the ability to create desired financial results and defines the set of FinTech lenders' activities and also their environment aimed at shaping the offer which meets their consumers' expectations. The limited number of studies addressing the identification and assessment of the impact exerted by the adoption factors of lending services offered by FinTech lenders and the lack of such analyzes relating to these decisions made by consumers from Central and Eastern Europe argue for the need to conduct such research. Purpose of the article: Identify factors driving consumers' adoption of digital lending services offered by FinTech lenders in Poland. Methods: Critical analysis of the source literature, descriptive and comparative analysis, diagnostic survey, econometric methods (PCA, SEM used in the TAM). Empirical data come from the surveys carried out in May 2022 using the CAWI method and covering a representative sample of 1,000 Poles. Findings & value added: The study identified factors driving consumers' adoption of digital lending services, including perceived trust, risk, usefulness and financial health. It has been proven that the perceived ease of use and innovation do not represent the statistically significant constructs influencing the accepted adoption attitudes. The adopted research model shows a considerable power to explain the intention of using digital loans. The article is the first scientific study of this type discussing the identification of adoption factors for loan services offered by FinTech lenders operating on the Central and Eastern European market. The presented example of Poland being the leader in this dynamically developing market provides the background for conducting international comparative studies in the future.

Impact of Financial Technology on Improvement of Banks' Financial Performance

This study investigates the main financial technologies adopted by banks to improve their financial performance. The study population consists of commercial banks listed on the Amman Stock Exchange and Abu Dhabi Securities Exchange, and includes financial information and data from 2012 to 2020. A total of 115 questionnaires, consisting of five questionnaires for each bank, were distributed to the study population in Jordan and the United Arab Emirates. The dependent variable is financial performance, while the independent variable is financial technology (FinTech). Multiple linear regression analysis was conducted to test the hypotheses. The results showed that FinTech has a positive effect on both total deposit and net profits. This study recommends that banks be encouraged to adopt inclusive strategies to attain sustainable development.

The Evolution of University Students' Financial Attitudes and Their Role in the Sustainability of Personal Finances

The purpose of this study is to examine the question of how crises influence the decision-making of Hungarian university students. Crises increase the risk of sustainability, so it is crucial to make appropriate financial decisions in such a situation. For this purpose, the authors conducted a two-stage questionnaire survey among students of economics and other majors. The inquiries took place in 2019 (n = 1558) and 2020 (n = 1712). A regression study was used to analyse the evolution of financial attitudes and investment knowledge, as well as how they are affected by a potential crisis modelled with the COVID-19 pandemic. It has been shown that interest in financial matters increases as a result of the crisis and the level of financial knowledge also increases. However, the most important conclusion of the study is that, in the event of a high threat, knowledge and practice can only be combined with calm thinking to help make appropriate financial decisions. All of this together ensures that investment decisions are the basis for the sustainability of personal finances.

The Adoption of Robo-Advisory among Millennials in the 21st Century: Trust, Usability and Knowledge Perception

Robo-advisor has become the new personal wealth management and investment method. Nonetheless, certain predicaments are faced by robo-advisor companies as a tech-savvy young group of individuals seems to be less willing to adopt robo-advisory. This study investigates millennials' adoption of robo-advisory in terms of financial knowledge, trust and usability perception in the 21st century to enhance sustainability. This quantitative study focuses on individuals belonging to the millennial generation who were born between 1981 and 1996. The findings indicate that the millennials who possess financial knowledge, as well as perceived usability and trust have a significant positive effect on the willingness to embrace robo-advisory as a tool for wealth management. The higher the financial knowledge of an individual, the more likely they are willing to adopt a robo-advisor. Government may provide appropriate avenues to enhance financial knowledge, and credible and user-friendly platforms with resources to boost the millennials' usage of robo-advisors for their wealth management. With robust artificial intelligence, robo-advisory continues to support users, especially millennials, through three dimensions of sustainable development: environment, society, and economy.