Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries
<p dir="ltr">The proliferation of financial technology (FinTech) has been instrumental in advancing financial inclusion, particularly in regions where traditional banking services have been historically limited. This study controls for supply-side determinants of FinTech adoption acr...
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2025
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| _version_ | 1864513538449473536 |
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| author | Sahibzada Muhammad Hamza (19160638) |
| author2 | Ahmet Faruk Aysan (11902115) Umar Nawaz Kayani (17131781) |
| author2_role | author author |
| author_facet | Sahibzada Muhammad Hamza (19160638) Ahmet Faruk Aysan (11902115) Umar Nawaz Kayani (17131781) |
| author_role | author |
| dc.creator.none.fl_str_mv | Sahibzada Muhammad Hamza (19160638) Ahmet Faruk Aysan (11902115) Umar Nawaz Kayani (17131781) |
| dc.date.none.fl_str_mv | 2025-03-12T09:00:00Z |
| dc.identifier.none.fl_str_mv | 10.1515/econ-2025-0137 |
| dc.relation.none.fl_str_mv | https://figshare.com/articles/journal_contribution/Cultural_Catalysts_of_FinTech_Baring_Long-Term_Orientation_and_Indulgent_Cultures_in_OECD_Countries/30233704 |
| dc.rights.none.fl_str_mv | CC BY 4.0 info:eu-repo/semantics/openAccess |
| dc.subject.none.fl_str_mv | Economics Econometrics Mathematical sciences Statistics national culture long-term orientation indulgence FinTech appetite financial inclusion |
| dc.title.none.fl_str_mv | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries |
| dc.type.none.fl_str_mv | Text Journal contribution info:eu-repo/semantics/publishedVersion text contribution to journal |
| description | <p dir="ltr">The proliferation of financial technology (FinTech) has been instrumental in advancing financial inclusion, particularly in regions where traditional banking services have been historically limited. This study controls for supply-side determinants of FinTech adoption across societies and investigates the influence of cultural dimensions – long-term orientation (emphasizing future rewards, perseverance, and thrift) and indulgence (prioritizing immediate personal satisfaction, leisure, and emotional expression) – on this phenomenon. Utilizing a comprehensive dataset spanning 9 years (2012–2020) from 43 OECD member countries (including partner nations), this research employs a two-stage fixed effect model with robust standard errors. The findings reveal that societies characterized by higher levels of indulgence demonstrate a lower propensity for FinTech adoption. Conversely, the long-term orientation cultural dimension exhibited a negative, albeit statistically insignificant, effect on FinTech appetite. This study underscores the necessity for industry practitioners and FinTech entrepreneurs to consider cultural dynamics when initiating FinTech ventures in specific markets. Furthermore, it recommends the exploration of additional cultural dimensions from various frameworks to enhance the generalizability of these findings. By elucidating the pivotal role of culture in shaping FinTech adoption, this research offers valuable insights for both academic discourse and industry applications, contributing to a more nuanced understanding of the interplay between cultural factors and financial innovation.</p><h2>Other Information</h2><p dir="ltr">Published in: Economics<br>License: <a href="http://creativecommons.org/licenses/by/4.0" target="_blank">http://creativecommons.org/licenses/by/4.0</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1515/econ-2025-0137" target="_blank">https://dx.doi.org/10.1515/econ-2025-0137</a></p> |
| eu_rights_str_mv | openAccess |
| id | Manara2_80cf36cf03386a35bf04f1aa8a9ddbb9 |
| identifier_str_mv | 10.1515/econ-2025-0137 |
| network_acronym_str | Manara2 |
| network_name_str | Manara2 |
| oai_identifier_str | oai:figshare.com:article/30233704 |
| publishDate | 2025 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| rights_invalid_str_mv | CC BY 4.0 |
| spelling | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD CountriesSahibzada Muhammad Hamza (19160638)Ahmet Faruk Aysan (11902115)Umar Nawaz Kayani (17131781)EconomicsEconometricsMathematical sciencesStatisticsnational culturelong-term orientationindulgenceFinTech appetitefinancial inclusion<p dir="ltr">The proliferation of financial technology (FinTech) has been instrumental in advancing financial inclusion, particularly in regions where traditional banking services have been historically limited. This study controls for supply-side determinants of FinTech adoption across societies and investigates the influence of cultural dimensions – long-term orientation (emphasizing future rewards, perseverance, and thrift) and indulgence (prioritizing immediate personal satisfaction, leisure, and emotional expression) – on this phenomenon. Utilizing a comprehensive dataset spanning 9 years (2012–2020) from 43 OECD member countries (including partner nations), this research employs a two-stage fixed effect model with robust standard errors. The findings reveal that societies characterized by higher levels of indulgence demonstrate a lower propensity for FinTech adoption. Conversely, the long-term orientation cultural dimension exhibited a negative, albeit statistically insignificant, effect on FinTech appetite. This study underscores the necessity for industry practitioners and FinTech entrepreneurs to consider cultural dynamics when initiating FinTech ventures in specific markets. Furthermore, it recommends the exploration of additional cultural dimensions from various frameworks to enhance the generalizability of these findings. By elucidating the pivotal role of culture in shaping FinTech adoption, this research offers valuable insights for both academic discourse and industry applications, contributing to a more nuanced understanding of the interplay between cultural factors and financial innovation.</p><h2>Other Information</h2><p dir="ltr">Published in: Economics<br>License: <a href="http://creativecommons.org/licenses/by/4.0" target="_blank">http://creativecommons.org/licenses/by/4.0</a><br>See article on publisher's website: <a href="https://dx.doi.org/10.1515/econ-2025-0137" target="_blank">https://dx.doi.org/10.1515/econ-2025-0137</a></p>2025-03-12T09:00:00ZTextJournal contributioninfo:eu-repo/semantics/publishedVersiontextcontribution to journal10.1515/econ-2025-0137https://figshare.com/articles/journal_contribution/Cultural_Catalysts_of_FinTech_Baring_Long-Term_Orientation_and_Indulgent_Cultures_in_OECD_Countries/30233704CC BY 4.0info:eu-repo/semantics/openAccessoai:figshare.com:article/302337042025-03-12T09:00:00Z |
| spellingShingle | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries Sahibzada Muhammad Hamza (19160638) Economics Econometrics Mathematical sciences Statistics national culture long-term orientation indulgence FinTech appetite financial inclusion |
| status_str | publishedVersion |
| title | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries |
| title_full | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries |
| title_fullStr | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries |
| title_full_unstemmed | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries |
| title_short | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries |
| title_sort | Cultural Catalysts of FinTech: Baring Long-Term Orientation and Indulgent Cultures in OECD Countries |
| topic | Economics Econometrics Mathematical sciences Statistics national culture long-term orientation indulgence FinTech appetite financial inclusion |