Venture capital, credit, and fintech start-up formation: A cross-country study
Publication type
FT ranked journal articlePublication Year
2022Journal
Entrepreneurship Theory and PracticePublication Volume
46Publication Issue
5Publication Begin page
1198Publication End page
1230
Metadata
Show full item recordAbstract
Growing FinTech entrepreneurship is a recent global phenomenon. Drawing on the national innovation systems framework, we examine how countries’ venture capital (VC) and credit markets differently affect FinTech entrepreneurship across countries. We argue that with their established and globally diffused norms and practices, VC investors—but not banks—require a critical mass of FinTech entrepreneurship in a country to more positively influence FinTech entrepreneurship. Moreover, we argue that VC and credit markets are substitutes, especially in countries with more FinTech entrepreneurship. Using quantile regressions on data from 53 countries, we find support for our hypotheses.Keyword
FinTech Entrepreneurship, Venture Capital, Credit, Entrepreneurial Finance, National Innovation SystemsKnowledge Domain/Industry
Accounting & FinanceSpecial Industries : Financial Services Management
ae974a485f413a2113503eed53cd6c53
10.1177/1042258720972652