The Role of Digital Finance in International Trade and Firm Performance; A Critical Review
in: International Research in Social, Human and Administrative Sciences XXI, Metmet Akif Çini, Editor, Eğitim Kitabevi, Konya, pp.1-84, 2024
- Publication Type: Book Chapter / Chapter Research Book
- Publication Date: 2024
- Publisher: Eğitim Kitabevi
- City: Konya
- Page Numbers: pp.1-84
- Editors: Metmet Akif Çini, Editor
- Ankara Yıldırım Beyazıt University Affiliated: Yes
Abstract
Increasing globalization due to technological developments allows companies to extend their existing market area. Technological developments, especially in the financial field, play an effective role in integrating companies into international trade. The digitalization of financial applications and the integration of technologies such as artificial intelligence and blockchain into financial transactions can be collected under the title of digital finance. Digital technologies, which have become increasingly important in recent years, have brought about many radical changes in the business world. In this context, this study aims to examine the effects of technological developments in the field of finance on the business world and to analyze how these changes affect the integration of companies into international trade. In order to reveal these relationships, an in-depth examination of the studies published in peer-reviewed studies in this field between 2018 and 2023 was preferred. The study examines the current situation in the literature, analyzes the latest developments, and identifies possible gaps in the literature. The impact of digital finance on international trade is explained by creating an integrated model. After conducting the study, it was found that digital finance can improve company performance and make international trade more efficient and accessible. Many scholars agree that digital tools can help companies respond to changes in global markets more quickly and effectively, while also reducing operational obstacles, improving risk management, and taking advantage of new opportunities for regional and organizational development. Digital finance has been found to increase the efficiency of international trade performance, risk management, debt management, financial performance, and corporate resilience in the face of bankruptcy and unexpected risks.