Topics of disclosure on the websites: An empirical analysis for fintech companies

Abstract

This paper examines the disclosure of information provided by FinTech companies (FTC) on the website in order to identify the main topics disclosed. Furthermore, the study analyses if the type of service and the geographical area could have some effect on the level of disclosure. The diversity of issues disclosed on the Internet is categorized in items grouped in self-constructed indices in order to identify the structure of the financial and non-financial information reported and furthermore to quantify the volume of disclosure. The empirical study is based on the analysis of the information reported by companies included in two FinTech top-list. Thus, the sample includes 91 businesses from Europe, Asia and North America. The results of the indices indicate that the total volume of information provided on the website is less than the amount reported in other sectors and other type of businesses. The findings also suggest that there are not any effects due to the type of service or the geographical area, effects traditionally associated in the literature with a major or a minor level of disclosure.