Title: FinTech - value and evaluation: first findings from listed companies

Authors: Loris Di Nallo; Anna Paola Micheli; Anna Maria Calce; Maria Lucetta Russotto

Addresses: Department of Economics and Law, University of Cassino and Lazio Meridionale, Viale dell'Università, Cassino, Italy ' Department of Economics and Law, University of Cassino and Lazio Meridionale, Viale dell'Università, Cassino, Italy ' Department of Economics and Law, University of Cassino and Lazio Meridionale, Viale dell'Università, Cassino, Italy ' Department of Economics and Business Sciences, University of Firenze, Via delle Pandette, Firenze, Italy

Abstract: The aim of the empirical work is to analyse the FinTech sector under different value perspectives. FinTech is an area linked to the financial system, due to the various interconnections. The results show that the expected market value of FinTech unicorns determined using the most known evaluation models, is much lower than the valuations made by operators, highlighting the possible reasons and that FinTech companies are less capable of creating value. The resulting implications are different, affecting academics, practitioners and policymakers, which should pay attention to the issue of evaluation, considering the effects on the financial and banking system. The need of specific evaluation models arises.

Keywords: FinTech; evaluation; finance; unicorns; value creation; multiples.

DOI: 10.1504/IJDCET.2024.136866

International Journal of Digital Culture and Electronic Tourism, 2024 Vol.4 No.3, pp.213 - 230

Received: 17 Dec 2022
Accepted: 08 Mar 2023
Published online: 23 Feb 2024 *

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