The role of FinTech for manufacturing efficiency and financial performance: in the era of industry 4.0

This study explores the impact of FinTech firms adhering to manufacturing efficiency practices compared with their counterparts during the fourth industrial revolution. The purpose is to provide empirical evidence of FinTech firms' operating efficiency and see corporate efficiency impacts market performance. The data has been collected from Bloomberg of all FinTech and non-FinTech companies in the United States for 1,712 company-year observations from 2010 until 2019. The results reveal manufacturing Efficiency of FinTech firms directly relates to their market performance. Besides, our regression analyses indicate that non-FinTech companies display inferior efficiency practices, leading to lower market performance than FinTech firms. The study's outcomes are important as they highlighted the efficiency of the FinTech and non-FinTech companies, offering insights to a wide range of stakeholders, including researchers, policymakers, regulators, financial report users, investors, environmental unions, employees, clients, and society.