Pranav Saraswat

1. Central Bank Digital Currency (CBDC) is the digital form of sovereign currency. CBDC offers benefits like increased transactional efficiency, financial inclusion, and reduced costs of currency m...

This study investigates the valuation dynamics of 30 publicly listed fintech firms across six Asian economies from January 2021 to December 2025. It examines how intrinsic firm-level scale (market capitalization) and extrinsic macroeconomic conditions (GDP growth) jointly influence fintech valuation ratios, as reflected in price-to-earnings (P/E), price-to-book (P/B), and price-to-sales (P/S) measures. It also identifies significant structural heterogeneity and distributional asymmetries in valuation outcomes by implementing a multi-method empirical strategy that includes a Panel Autoregressive Distributed Lag (ARDL) framework, two-way fixed-effects models with interaction terms, and quantile regression. The findings reveal a robust, positive long-run relationship between market capitalization and valuation multiples across all ratios, confirming that firm-level scale as reflected in market capitalization is the primary driver of market value. Critically, the analysis identifies a dual-regime landscape in the Asian fintech sector: developed markets (South Korea, Japan, and Singapore) are fundamentally firm-scale driven, where intrinsic scale is the superior predictor of valuation. In contrast, developing markets (China, India, and Indonesia) are primarily macro-growth driven, exhibiting high sensitivity to GDP growth as a macroeconomic indicator of market expansion. The quantile regression results demonstrate a winner-takes-all effect, where the impact of scale on valuation is significantly more pronounced for highly valued firms in the 75th percentile. These results challenge the efficacy of universal valuation models and provide a context-dependent navigational framework for investors, analysts, and policymakers to distinguish between structural scale and cyclical growth in the rapidly evolving Asian fintech ecosystem.

ESG investments have been very impactful on the financial markets, global economies, and have been one of the emerging reasons of corporate success. The increased demand in such investments shows a strategic shift or a potential change in the investor priorities and showcases the changing portfolio analytics. The new investment portfolio strategies are aligned with ethical and green investments analysis. Ethical and society friendly approaches by the investors have led to increases in the ESG investment funds, marking a substantial increase in the ESG assets. The European Fund Management shows 60% adoption of ESG integration over the past decades. The past trends of investing strategy included more return or profit-based approach, but now more focus is on the overall development of the company. This shows a positive move not only in the investment and portfolio planning but it also provides a broader analysis of societal consciousness and the will to reshape the traditional market in a better way.

Green accounting is a system that integrates the costs and the benefits attached with the environment. It shows the inclusion of such costs and benefits in the traditional accounting strategies and their methodology. Including the advantages and disadvantages, it becomes of vital impact to discuss the effect of green accounting on financial statements and its analysis. Green accounting strategies come of great benefit to the customers, public, investors, as they get a complete image of the company. The investors are informed of the reaped advantage, policies followed, reduction in risk, and optimum resource allocation. Many firms strategize in such alignments to increase their customer base and attract more customers on the basis of analytics. Other stakeholders like NGOs and other promotional firms get complete access to such information which leads to increase in the disclosure requirement of the companies. Hence, many investors, having rights in the shareholding, compel the management to follow such steps for the betterment of the society.