Topics in Corporate Finance

Understanding Fintech and Private Equity

Volume: 26 Topics in Corporate Finance

Author(s): Arnoud W.A. Boot, Jeroen E. Ligterink and Jens K. Martin

Year: 2018

ISBN: 978-90-77859-17-9

Price: € 20.00

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In the ongoing focus of the Amsterdam Center for Corporate Finance (ACCF) on the future structure of the financial sector, this issue of its series Topics in Corporate Finance is devoted to understanding Fintech and the role, scope and scale of private equity in the Netherlands with as authors professor Arnoud W.A. Boot, Professor Jeroen E. Ligterink, Associate Professor and Head of Section at the Finance Group of the University of Amsterdam and Dr Jens K. Martin (Assistant Professor at the Finance Group of the University of Amsterdam).

This 26th issue of the ACCF Topics in Corporate Finance series is dedicated to two key issues in finance: the impact of fintech on banking, and the role that private equity plays in the economy.

The first chapter focuses on fintech. The main ingredient are developments in information technology that play a leading role in the transformation of banking. The recent focus on fintech – basically, new technology-driven players entering the financial services industry – is the latest manifestation of the impact of information technology on the industry. The focus is on the structure of the banking industry going forward. The author concludes that much uncertainty remains as fintech will lead to a disaggregation of the value chain, and will challenge the bank-customer interface at the core. The sector will need agility and flexibility to deal with the challenges ahead.

The second chapter is dedicated to the advantages and disadvantages of private equity. How should private equity be viewed? Does it play a valuable role in the economy? And what is its impact on the various stakeholders? The study focuses on buyouts. These are takeovers of mature companies (or parts of companies) by investors financed with considerable leverage (debt). Debates on this topic are often heated. The picture that emerges is a nuanced one. Broadly speaking, the authors conclude that private equity plays a positive role and is associated with value creation, but excesses do occur. Some policy measures are suggested. The chapter is based on an extensive study recently conducted by the authors for the Dutch Ministry of Finance into the role of private equity, specifically in the Netherlands (Ligterink, J.E., J.K. Martin, A.W.A. Boot, K. Cools and L. Phalippou (2017), Private equity in Nederland, een stakeholder-perspectief, report prepared for the Dutch government, February 11).

Publications Topics in Corporate Finance

262018Arnoud W.A. Boot, Jeroen E. Ligterink and Jens K. MartinUnderstanding Fintech and Private Equity€ 20.00
252017Jeroen E. Ligterink en Jens K. MartinPrivate equity: waardecreatie, herverdeling en excessen€ 20.00
242015Tanju YorulmazerUnderstanding the Crisis: Bank Funding Structures as Source of Instability€ 20.00
232014Anat R. AdmatiTowards a Better Understanding of the Capitalization of Banks€ 20.00
222013Arnoud W.A. BootTransactiemaatschappij en financiële markten: op zoek naar een nieuwe balans€ 20.00
212012Lans BovenbergMacro-oplossingen gezocht: naar integrale oplossingen voor de onevenwichtigheden in wonen, pensioen, ouderenzorg en het bancaire landschap€ 20.00
202011Paul De Grauwe and Arnoud W.A. BootTowards a Fundamental Resolution of the Eurocrisis€ 20.00
192010David T. LlewellynThe Global Banking Crisis and the Post-Crisis Banking and Regulatory Scenario€ 20.00
182010Ludovic PhalippouRegulating Private Equity€ 20.00
172009Frank Partnoy, Arnoud W.A. Boot and Anjan V. ThakorTowards a Fundamental Understanding of Financial Sector Developments€ 20.00
162008Arnoud W. A. BootCorporate finance theorie en financiële crisis in breder perspectief € 20.00
152007Arnoud W.A. Boot, meerdere auteursPrivate equity en aandeelhoudersactivisme€ 20.00
142007X. Vives and V. Strauss-KahnHeadquarters and innovation: does location matter? € 20.00
132006L. Bouchez, M. Knubben, J.A. McCahery and L. Timmerman (eds)The Quality of Corporate Law and the Role of Corporate Law € 20.00
122005J. McCahery and E. VermeulenUnderstanding (Un)incorporated Business Forms € 20.00
112005D. Cumming, G. Fleming and A. SchwienbacherRecent research on the investment behavior of private equity fund managers€ 20.00
102005M.J.G.C. Raaijmakers, G. van Solinge en P. Frentrop Corporate governance: een agenda voor de toekomst€ 20.00
92004Amar BhidéEntrepreneurship and Venture Capital€ 20.00
82004V. Maksimovic, D. Brounen, A. de Jong and K. KoedijkPerspectives on the Theory and Practice of Corporate Finance € 20.00
72003J.J.A. LeenaarsSecuritisatie: Economics en Europees Perspectief€ 20.00
62003U. BhattacharyaGlobal Corporate Governance and Accounting Transparency € 20.00
52002A. Saunders and A. SchmeitsThe Role of Bank Funding for the Corporate Sector: the Netherlands in an International Perspective € 20.00
42001Todd T. MilbournManagement Compensation in the Netherlands: Theory, Evidence, and Best Practice € 12.50
32000A.W.A. Boot and J.E. LigterinkDe Efficiëntie van de Nederlandse Faillissements€ 15.00
22000E.I. Altman and A. Saunders, and A.W.A. Boot, T. Milbourn, and S. DezelanPerspectives on the Regulation of the Financial Services Industry € 12.50
11999I. Walter and A.W.A. BootThe Future of Banking: Two Essays on the Consolidation in the Financial Sector€ 15.00