A comparative analysis between FinTech and traditional stock markets: using Russia and Ukraine war data

Fakhrul Hasan (), Manaf Al-Okaily (), Tonmoy Choudhury () and Umar Kayani ()
Additional contact information
Fakhrul Hasan: Northumbria University
Manaf Al-Okaily: Jadara University
Tonmoy Choudhury: King Fahd University of Petroleum and Minerals
Umar Kayani: Al Ain University

Electronic Commerce Research, 2024, vol. 24, issue 1, No 22, 629-654

Abstract: Abstract In this paper, we extend the current literature by seeking answers to two questions: (1) were/are traditional stock markets or FinTech markets more volatile during the Russia–Ukraine War? (2) Which market returns were/are higher during the Russia–Ukraine War—traditional stocks or Fintech stocks. We explored whether cumulative abnormal returns and the stock price of the Fintech market, proxied by Global X Fintech ETF, of firms listed in 28 different countries’ stock markets differ during the Russia–Ukraine War than before the war. Our data set covers the period from June 1, 2021, through November 22, 2022. Our results found that traditional stock markets have been more volatile than Fintech stock markets during the Russia–Ukraine War than before the war. On the other hand, we can see that traditional market returns have been lower than Fintech market returns during the Russia–Ukraine war than before the war.

Keywords: A comparative study; Traditional stock market; FinTech; War; Russia; Ukraine (search for similar items in EconPapers)
JEL-codes: G11 G14 G15 G24 G34 H56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10660-023-09734-0 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:elcore:v:24:y:2024:i:1:d:10.1007_s10660-023-09734-0

Ordering information: This journal article can be ordered from
http://www.springer.com/journal/10660

DOI: 10.1007/s10660-023-09734-0

Access Statistics for this article

Electronic Commerce Research is currently edited by James Westland

More articles in Electronic Commerce Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().