International Journal of Financial Technology Perspective

International Journal of Financial Technology Perspective

Meta-analysis of empirical research in the investment field with emphasis on corporations operating in the field of financial technologies industry

Authors
Fatemeh Samadi 1
Hossein Eslami Mofid Abadi 2
Farnoush Asadi 3
1 Assistant Professor, Department of Accounting and Management, East Tehran Branch, Islamic Azad University, East Tehran, Iran
2 Assistant Professor, Department of Accounting and Management,Shahryar Branch,Islamic Azad University,Shahryar,Iran
3 Master of Financial Management, Accounting Department, Faculty of Humanities, Islamic Azad University, East Tehran Branch, Tehran, Iran
Abstract
The present study aims to conduct a meta-analysis of empirical research in the investment field with emphasis on corporations active in the field of financial technologies industry. The type of research is descriptive. The research follows an applied purpose, is considered among basic research, is an interactive post-event survey in terms of data collection method, and has used data available on universities' scientific-research databases. Research populations included all basic research in the financial field that were selected based on the analysis of financial patterns. According to the conditions considered for sample selection, 113 studies conducted throughout 1962-2020 were selected through systematic elimination whose data was collected and tested using meta-analysis. Results of using CAM2 software indicated that given the Cochrane rest, the studies investigated in the present research were heterogeneous and the i squared coefficient also determined the studies to be heterogeneous, confirming the Cochrane test. In the next stage, the results of Begg and Mazumdar’s rank correlation confirmed the bias in the publication of studies. At the final stage, the fail-safe N-test yielded the final result that 4484 further studies must be carried out so that an error occurs in the final results of analyses and calculations. This result indicates the high accuracy of results and information obtained from the present research since 4484 cases of distance from error is a favorable and considerable amount.
Keywords
meta-analysis
financial models
CAPM model
Fama and French
Black-Scholes
mean-variance
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