{"title":"Why do banks acquire FinTech? The role of board cultural diversity","authors":"Reghezza Alessio , Chrysovalantis Vasilakis","doi":"10.1016/j.bar.2024.101424","DOIUrl":null,"url":null,"abstract":"<div><div>This paper examines the role of cultural diversity in bank boardrooms for the acquisition of innovation financial technology – or “FinTech” – firms. Using a sample of 808 banks from 2008-18 in 65 countries, we find that culturally diverse boards are more likely to pursue the acquisition of FinTech firms. We also show that bank-, country- and corporate governance-specific characteristics matter for FinTech acquisition. In particular, banks with older and more gender diverse boardrooms are more likely to acquire FinTech firms. Our paper assumes particular relevance for banks seeking to invest in digital technologies and to adapt to the new digital era.</div></div>","PeriodicalId":47996,"journal":{"name":"British Accounting Review","volume":"58 3","pages":"Article 101424"},"PeriodicalIF":9.4000,"publicationDate":"2026-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"British Accounting Review","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0890838924001884","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2024/6/22 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
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Abstract
This paper examines the role of cultural diversity in bank boardrooms for the acquisition of innovation financial technology – or “FinTech” – firms. Using a sample of 808 banks from 2008-18 in 65 countries, we find that culturally diverse boards are more likely to pursue the acquisition of FinTech firms. We also show that bank-, country- and corporate governance-specific characteristics matter for FinTech acquisition. In particular, banks with older and more gender diverse boardrooms are more likely to acquire FinTech firms. Our paper assumes particular relevance for banks seeking to invest in digital technologies and to adapt to the new digital era.
期刊介绍：
The British Accounting Review*is pleased to publish original scholarly papers across the whole spectrum of accounting and finance. The journal is eclectic and pluralistic and contributions are welcomed across a wide range of research methodologies (e.g. analytical, archival, experimental, survey and qualitative case methods) and topics (e.g. financial accounting, management accounting, finance and financial management, auditing, public sector accounting, social and environmental accounting; accounting education and accounting history), evidence from UK and non-UK sources are equally acceptable.
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