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dc.contributor.authorHarasim, Janina
dc.date.accessioned2022-02-18T11:38:00Z
dc.date.available2022-02-18T11:38:00Z
dc.date.issued2022
dc.identifier.urihttps://library.oapen.org/handle/20.500.12657/52929
dc.description.abstractThis chapter aims at exploring some theoretical issues associated with the impact of technology companies on the market structure in the financial industry with the special focus on capital markets. Based on the industrial organization theory, as well as on an extensive literature review, research to date, and industry reports, the attempt was made to identify main structural changes resulting from FinTech's activity in this market segment. It was found that, in contrast to the banking sector, BigTechs are not interested in entering into capital markets. This can be explained by complexity of investment services and weak synergies between them and non-financial services offered by technology giants. As a result, digitalization in capital markets is driven rather from inside and supported by FinTechs. In the stock market, the development of high-frequency trading resulted in the increasing centralization of trade that neither facilitated market access nor eliminated the market asymmetry. Nonetheless, FinTech solutions allowed reductions in transaction costs and increase in short-term market efficiency. In the asset management and mutual funds industry digital platforms, developed mostly by incumbents, by lowering transaction costs and reducing communication frictions made investing easier and cheaper for individuals, however their decisions became more speculative.en_US
dc.languageEnglishen_US
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Finance::KFFK Bankingen_US
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KJ Business & management::KJD Business innovationen_US
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KJ Business & management::KJE E-commerce: business aspectsen_US
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KC Economicsen_US
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCB Macroeconomicsen_US
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KF Finance & accounting::KFF Financeen_US
dc.subject.classificationbic Book Industry Communication::K Economics, finance, business & management::KC Economics::KCB Macroeconomics::KCBM Monetary economicsen_US
dc.titleChapter 5 FinTechs, BigTechs and structural changes in capital marketsen_US
dc.typechapter
oapen.identifier.doi10.4324/9781003095354-5en_US
oapen.relation.isPublishedBy7b3c7b10-5b1e-40b3-860e-c6dd5197f0bben_US
oapen.relation.isPartOfBook9b47960a-f182-4557-808a-3578ee68ce99en_US
oapen.relation.isbn9780367558406en_US
oapen.relation.isbn9780367558345en_US
oapen.imprintRoutledgeen_US
oapen.pages21en_US
oapen.remark.publicFunder name: University of Economics in Katowice


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