The Impact of Fintech Adoption on the Relationship between Outward FDI and Firm Performance

This study examines the impact of outward foreign direct investment (OFDI) on firm performanceand the moderating effect of fintech adoption. Using panel data from publicly listed Korean firms, multiple performance indicators—including profitability, growth, stability, and activity—were analyzed. Results show that OFDI generally enhances firm performance, particularly profitability and growth, and that fintech adoption strengthens this effect by reducing financial constraints and transaction costs in the internationalization process. The findings extend OFDI research by highlighting digital financial technologies as a key element of international strategy, suggesting that the convergence of fintech and international business will fundamentally reshape how firms approach global markets in the digital economy era. Academically, the study bridges international business and fintech research, highlighting the strategic role of digital transformation. From a managerial perspective, it underscores the importance of fintech-based financial infrastructurefor entering foreign markets. At the policy level, fostering fintech and improving financial systems support firms’ global competitiveness. Overall, this research contributes by integrating digital financial technologies into the study of OFDI and firm performance and establishes a foundation for understanding how technological convergence will redefine international business paradigms.