Магистерская диссертация посвящена исследованию теоретических основ политики управления дебиторской задолженностью, проведен анализ структуры дебиторской задолженности на предприятии АО «ЭнергосбыТ Плюс», и на основе этого выявлены проблемы управления дебиторской задолженностью на предприятии и предложены мероприятия, направленные на их решения. / The master's thesis is devoted to the study of the theoretical foundations of the accounts receivable management policy, the analysis of the structure of accounts receivable at the enterprise of JSC "EnergosbyT Plus" was carried out, and on the basis of this, the problems of accounts receivable management at the enterprise were identified and measures aimed at solving them were proposed.

As globalisation and digitalisation continue to grow, cellular networks have become a mainstay in actualising digital communication, connectivity, access to digital media, and the exploitation of information technologies. 5G, the fifth-generation cellular network, has been anticipated by many to address the communications needs of virtually all sectors of the global economy and is expected to drive completely new services, particularly productisation, within niche markets. This thesis seeks to understand what the evolution of cellular networks in Nigeria can apprise about the possibilities for 5G within the Nigerian financial technology (FinTech) industry. This study combined quantitative and qualitative approaches to acquire rich, relevant contextual data. Secondary data obtained from industry reports and repositories were supplemented and triangulated with primary empirical data obtained via semi-structured interviews with the appropriate ecosystem stakeholders and industry actors that were sampled in a purposeful and snowballed manner. Results were obtained and analysed thematically, following which we applied large technological system dynamics and scenario-based theoretical frameworks to understand and map 5G’s possibilities within the Nigerian FinTech space. Our findings reveal five dynamic dimensions relating to FinTech and cellular network development within Nigeria: market dynamics, network dynamics, political dynamics, socio-economical dynamics, and technological dynamics. These dynamics help to elucidate the condensed critical problems of Urbanisation/ rural-urban migration and Government policies and regulations that provide the foundational basis upon which four scenarios could potentially play out in the relevant ecosystem, namely: consolidation and expansion of IT/FinTech operations in major cities; urbanisation for an inflated economy; innovation for a free market; and innovation for a constrained market. However, all scenarios uncover the importance of collective multi-stakeholder action between the network of relevant actors to ensure the actualisation of 5G’s possibilities and its success within the Nigerian FinTech industry and possibly beyond this industry.

Выпускная квалификационная работа (магистерская диссертация) посвящена исследованию развития мобильных платежей в Китае и России. Предметом исследования выступают выявление проблем развития мобильных платежей, выработка стратегии решения и перспективы сотрудничества двух стран. Основной целью магистерской диссертации является разработка комплексной концепции налогообложения субъектов малого бизнеса на основе теоретического обоснования мобильных платежей, выявление проблем, существующих в развитии мобильных платежей в России и Китае, выработка стратегии их решения и изучение перспектив развития мобильных платежей. В заключении обозначены рекомендации по сотрудничеству Китая и России в сфере мобильных платежей. / Final qualifying work (master's thesis) is devoted to the study of the development of mobile payments in China and Russia. The subject of the research is the identification of problems in the development of mobile payments, the development of a solution strategy and prospects for cooperation between the two countries. The main purpose of the master's thesis is to develop a comprehensive concept of taxation of small businesses based on a theoretical justification of mobile payments, identifying problems existing in the development of mobile payments in Russia and China, developing strategies for solving them and studying the prospects for the development of mobile payments. The report identifies recommendations for cooperation between China and Russia in the field of mobile payments.

Магистерская диссертация посвящена исследованию влияния финансовых технологий на страховой рынок Российской Федерации. Предметом исследования являются экономические отношения, формируемые под влиянием финтех инноваций на рынке страхования. Основной целью магистерской диссертации является разработка концепции, которая позволит модифицировать страховой рынок, на примере СПАО «Ингосстрах» в условиях развития финансовых инноваций в страховании на основе изучения теоретических и практических аспектов внедрения финансовых технологий в сфере страхования. В заключении подводятся общие итоги, делаются выводы по масштабам деятельности СПАО «Ингосстрах» и развитию дистанционных каналов обслуживания, значимость внедрения современных технологий в сферу страхования. / The master's thesis is devoted to the study of the cost management policy for the production and sale of enterprise products in order to increase its profitability and profitability. The subject of the study is the economic relations arising in the process of cost management. The main purpose of the master's thesis is to develop practical recommendations on cost management at the enterprise based on the systematization of existing scientific approaches to cost management. In conclusion, the results of the study are summarized, conclusions are drawn about the activities of LLC "Kurganavtotrans".

The digitisation of the financial markets has led to IT becoming a vitalpart of financial institutions. The principles and practices of ContinuousDeployment (CD) are utilised to increase innovation through flexibilityand swiftness at many IT companies. This thesis explores the encounterof CD and the financial industry through participant observations andsemi-structured interviews with developers.We find in our study that practitioners in the financial industry usepractices that are part of a CD process. The specialisation of the systemsthat is evident in the industry could be considered a barrier for theadoption of a CD process. However, improved transparency that maycome as a result of CD is well aligned with the demands that are evidentin the industry. Furthermore, the requirement for code reviews mightimpact the ability to attain a continuous process, as it must be a manual.

In this thesis, I investigate the amount of underpricing in FinTech companies compared to non-FinTech companies. Both data sets contain thirty companies spanning from 1993 to 2018. Each FinTech company is matched to a non-FinTech company by year and comparatively similar revenue. Prior research explores underpricing on different industries, but it hasn’t yet explored underpricing in the FinTech segment. The variables considered in this paper are offer price, close price, shares offered, number of banks involved, fees per share, and money left on the table. I find some evidence that the average amount of underpricing in both dollars and by percent is higher with non-FinTech companies than FinTech companies. However, difference in means tests show statistically significant differences only for the number of shares offered. It cannot be reliably said whether investors perceive a higher risk in FinTech companies or non-FinTech companies.

Fintech and Web 3.0 represent two important constructs for an emerging web experience that is decentralized, social, and immersive. When integrating fintech solutions into digital projects, understanding market performance and impact from shocks can inform decisions around integrations as businesses and creators move towards Web 3.0 and emerging use cases that leverage NFTs, smart contracts, extended reality, and blockchain to deliver value. Additionally, fintech and Web 3.0 create new challenges for established firms where peer-to-peer value exchanges happen in real-time without the need for intermediaries and thus provide greater access to resources for disruptors, small enterprises, and creators. This proposal outlines a mixed methods research study that examines fintech performance and how it has responded to market shocks to answer the research question: What is the level of financial performance for fintech? The study is followed by an examination of how technology can power an immersive, decentralized digital experience that transcends borders and device platforms to answer the research question: What is the relationship between fintech and Web 3.0? The ability of fintech to increase banking inclusion and access to capital would be valuable as a facilitator of transactions between brands and peers (P2P) in a Web 3.0 ecosystem. Hence, understanding fintech performance and its relationship to a decentralized Web 3.0 will inform business leaders, creators, and researchers in identifying new use cases that combine both constructs building a more inclusive global value exchange ecosystem. While there is a growing body of knowledge on fintech, much less has been written about Web 3.0 and even less literature exists on the relationship between the two constructs. / Business Administration/Management Information Systems

Over the years, internationalization has seen significant shifts, especially in the financial industry where fintech firms blending technology and finance have sparked a revolution. Sweden has emerged as one of the global leaders in this sector. However, despite this transformation, existing studies on the internationalization process of fintech firms lack context and industry-specific insights, indicating a pressing need for further research in this area. Therefore, this thesis investigates the intricate internationalization process of small Swedish fintech firms with a digital and technological foundation. We aim to uncover the motives and patterns driving their early international expansion process. By conducting an in-depth case study of a single Swedish fintech firm, utilizing semi-structured interviews with employees with different positions as well as secondary data, this methodological approach allowed us to reveal new insights. More specifically, our research contributed to an identification of three distinct stages in the internationalization process: (1) motives centered on the product, prompting swift digital export strategies, (2) motives focused on the customer, leading to a shift from broad to deep engagement through localization and (3) motives based on strategic resources, guiding a measured expansion in markets optimized for regulatory conditions. These stages are shaped by entrepreneurial vision and national support, highlighting a dynamic and iterative process of international growth as well as a temporal aspect of the process development throughout these stages. In theory, this thesis expands comprehension and questions the idea of a one-size-fits-all internationalization strategy for fintech companies. It demonstrates that Swedish fintech firms employ a hybrid approach, integrating early internationalization with gradual methods. In practice, the research furnishes valuable perspectives for fintech executives, investors and policymakers, presenting a strategic model to enhance internationalization strategies, evaluate risks and facilitate regulatory adaptations. These contributions enrich discussions in fintech literature, potentially aiding fintech enterprises, both in Sweden and globally, in effectively planning their internationalization endeavors.

This study investigates the impact of Environmental, Social, and Governance (ESG) ratings on the risk-adjusted returns of fintech firms across different segments, including fintech banks, paytech, wealth tech, fintech infrastructure, and cryptocurrency firms. Using a sample dataset comprising 104 worldwide fintech firms spanning the period from 2012 to 2022, we employ regression analysis to assess the relationship between ESG ratings and stock returns, considering both overall ESG scores and individual pillar ratings. Our findings reveal unique associations between ESG ratings and risk-adjusted returns, varying across different segments of the fintech industry. While high ESG-rated fintech firms exhibit a negative impact on stock returns, low ESG-rated firms show no significant association. Moreover, the environmental pillar rating demonstrates a negative correlation with risk-adjusted returns, whereas social and governance pillar ratings display a positive relationship. Furthermore, infrastructure fintech firms exhibit adistinct pattern, with overall ESG, social and governance ratings positively associated with stock returns. These results highlight the importance of considering ESG factors in evaluating the financial performance of fintech firms, with implications for investors, policymakers and industry practitioners. The study contributes to the existing literature by providing insights into how ESG considerations influence the risk-return profile of fintech firms, offering valuable guidance for sustainable investment strategies in the rapidly evolving fintech landscape.

The aim of this study is to assess whether there is a relationship between capital structure and financial performance among Swedish FinTech companies. Previous studies have examined this relationship in other industries and in other countries with mixed and sometimes contradictory results. The theoretical framework consists of theories such as trade-off theory, pecking-order theory and the life cycle theory. For the purpose of the study, a regression analysis of 204 Swedish FinTech companies was conducted between the years 2017-2019. The results show that FinTech companies are financed with approximately half of liabilities, most of which consist of current liabilities. Consistent with the pecking-order theory, the results of the current study indicate a negative and significant relationship between leverage and profitability measured as ROE. In addition, larger- and older companies seem to be more profitable. / Denna studie strävar efter att bedöma huruvida det finns ett samband mellan kapitalstruktur och finansiell prestation bland svenska FinTech-företag. Tidigare studier har undersökt detta förhållande på andra branscher och i andra länder med blandade och ibland motsägelsefulla resultat. Det teoretiska ramverket består av teorier som trade-off teorin, pecking-order teorin samt livscykelteorin. För studiens ändamål genomfördes en regressionsanalys på 204 svenska FinTech-företag mellan åren 2017-2019. Resultaten visar att FinTech-företagen är finansierade med ungefär hälften skulder, varav merparten består av kortfristiga skulder. Konsekvent med pecking-order teorin indikerar resultaten i den aktuella studien ett negativt och signifikant samband mellan skuldsättning och lönsamhet mätt som ROE. Dessutom verkar de större- och äldre företagen vara mer lönsamma.