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The long-term effect of digital innovation on bank performance : an empirical study of SWIFT adoption in financial services
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Scott, Susan V., Van Reenen, John and Zachariadis, Markos (2017) The long-term effect of digital innovation on bank performance : an empirical study of SWIFT adoption in financial services. Research Policy, 46 (5). pp. 984-1004. doi:10.1016/j.respol.2017.03.010
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WRAP-long-term-digital-bank-empirical-adoption-Zachariadis-2017.pdf - Published Version - Requires a PDF viewer. Available under License Creative Commons Attribution 4.0. Download (2320Kb) | Preview |
Official URL: http://dx.doi.org/10.1016/j.respol.2017.03.010
Abstract
We examine the impact on bank performance of the adoption of SWIFT, a network-based technological infrastructure and set of standards for worldwide interbank telecommunication. We construct a new longitudinal dataset of 6848 banks in 29 countries in Europe and the Americas with the full history of adoption since SWIFT’s initial operations in 1977. Our results suggest that the adoption of SWIFT (i) has large effects on profitability in the long-term; (ii) these profitability effects are greater for small than for large banks; and (iii) exhibits significant network effects on performance. We use an in-depth field study to better understand the mechanisms underlying the effects on profitability.
| Item Type: | Journal Article | ||||||||
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| Divisions: | Faculty of Social Sciences > Warwick Business School | ||||||||
| Journal or Publication Title: | Research Policy | ||||||||
| Publisher: | Elsevier | ||||||||
| ISSN: | 0048-7333 | ||||||||
| Official Date: | June 2017 | ||||||||
| Dates: |
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| Volume: | 46 | ||||||||
| Number: | 5 | ||||||||
| Page Range: | pp. 984-1004 | ||||||||
| DOI: | 10.1016/j.respol.2017.03.010 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Open Access |
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