The diffusion of financial technology-enabled innovation in GCC-listed banks and its relationship with profitability and market value

Purpose This study aims to examine the relationship between the diffusion of technology-enabled innovation in financial services (i.e. financial technology [FinTech]) and the financial performance, i.e. profitability and market value of the banks listed in the Gulf Cooperation Council (GCC) countries. Design/methodology/approach An extensive review of the literature was carried out, and a diffusion index of 73 items including was adopted to measure the level of FinTech usage or diffusion for the banks that are listed on the GCC stock exchanges. The study used return on assets (ROA) and Tobin’s Q (TQ) as proxies to measure profitability and market value, respectively. Findings The findings of the empirical…