EXPLORING THE IMPACT OF ICT DIFFUSION IN THE EUROPEAN BANKING INDUSTRY: EVIDENCE IN THE PRE- AND POST-COVID-19

Antonella Francesca Cicchiello, Matteo Cotugno, Stefano Monferr〠() and Salvatore Perdichizzi
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Antonella Francesca Cicchiello: Catholic University of the Sacred Heart, Piacenza, Italy†BANKS - Banking Research School, Piacenza, Italy
Stefano Monferrã€: Catholic University of the Sacred Heart, Piacenza, Italy

Journal of Financial Management, Markets and Institutions (JFMMI), 2021, vol. 09, issue 02, 1-17

Abstract: Based on daily data from Thomson Reuter’s Refinitiv, we investigate the effect of information and communication technology (ICT) on the profitability and risk of the European banking industry during the COVID-19 pandemic. Specifically, we empirically examine whether and how ICT diffusion affects banks’ stock return, credit default swaps (CDS) spreads and market volatility over the period spanning from January 1, 2020, to March 31, 2020. Our evidence demonstrates that ICT improves banks’ performance measures and reduces risks. These effects are more significant in the post-COVID-19 period.

Keywords: Stock markets; COVID-19 outbreak; banks; ICT (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1142/S2282717X21500109

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