| Abstract [eng] |
The primaly aim of this master thesis is to investigate the role FinTech role in promoting green finance in European Union. The thesis consists out of three main parts: literature analysis, empirical research and its result interpretation and recomendations. The literature review suggests that digitization reduses the cost, improves information asymmetry, enhances the access to sustainable financial instruments and is the main channel in shaping companies’ ability to engage in green finance. Systematic barriers such as lacking general regulations or data asymmetry prevent the empowering of green finance. The literature review assisted in identifying the research gap in firm scale research in EU. The methodology developed creates a firm foundation to assess FinTech impact on green finance. For that logarithmic-linear regression model is exploited with intention to determine the FinTech impact on green finance deploying FinTech solutions applied on company level in various sectors. Green finance index is selected as an independent variable for research. The dependent variables are FinTech index, investments in FinTech, green innovation and R&D activity. Meanwhile, the control variables reflect macroeconomic and firm-level conditions. Diagnostic tests were implemented to assess the robustness of the model and minimize its uncertainty. The empirical results clearly demonstrate that green finance in the EU is mostly influenced by Fintech and a little less by green innovations. Sectors and regions do not capture any significant relations. That could be led by harmonized FinTech adoption policy in the EU, rather than sector-targeted or region-specific interventions. |
