Venture capital, credit, and fintech start-up formation : a cross-country study
- Author
- Dimitrios Kolokas, Tom Vanacker (UGent) , David Veredas (UGent) and Shaker Zahra
- Organization
- Abstract
- 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.
- Keywords
- Economics and Econometrics, Business and International Management, FinTech entrepreneurship, venture capital, credit, entrepreneurial finance, national innovation systems, ENTREPRENEURSHIP, BUSINESS, INVESTMENT, INSTITUTIONS, TECHNOLOGY, EVOLUTION, FINANCE, BANKS, FIRMS, MANAGEMENT
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Citation
Please use this url to cite or link to this publication: http://hdl.handle.net/1854/LU-8746220
- MLA
- Kolokas, Dimitrios, et al. “Venture Capital, Credit, and Fintech Start-up Formation : A Cross-Country Study.” ENTREPRENEURSHIP THEORY AND PRACTICE, vol. 46, no. 5, 2022, pp. 1198–230, doi:10.1177/1042258720972652.
- APA
- Kolokas, D., Vanacker, T., Veredas, D., & Zahra, S. (2022). Venture capital, credit, and fintech start-up formation : a cross-country study. ENTREPRENEURSHIP THEORY AND PRACTICE, 46(5), 1198–1230. https://doi.org/10.1177/1042258720972652
- Chicago author-date
- Kolokas, Dimitrios, Tom Vanacker, David Veredas, and Shaker Zahra. 2022. “Venture Capital, Credit, and Fintech Start-up Formation : A Cross-Country Study.” ENTREPRENEURSHIP THEORY AND PRACTICE 46 (5): 1198–1230. https://doi.org/10.1177/1042258720972652.
- Chicago author-date (all authors)
- Kolokas, Dimitrios, Tom Vanacker, David Veredas, and Shaker Zahra. 2022. “Venture Capital, Credit, and Fintech Start-up Formation : A Cross-Country Study.” ENTREPRENEURSHIP THEORY AND PRACTICE 46 (5): 1198–1230. doi:10.1177/1042258720972652.
- Vancouver
- 1.Kolokas D, Vanacker T, Veredas D, Zahra S. Venture capital, credit, and fintech start-up formation : a cross-country study. ENTREPRENEURSHIP THEORY AND PRACTICE. 2022;46(5):1198–230.
- IEEE
- [1]D. Kolokas, T. Vanacker, D. Veredas, and S. Zahra, “Venture capital, credit, and fintech start-up formation : a cross-country study,” ENTREPRENEURSHIP THEORY AND PRACTICE, vol. 46, no. 5, pp. 1198–1230, 2022.
@article{8746220,
abstract = {{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.}},
author = {{Kolokas, Dimitrios and Vanacker, Tom and Veredas, David and Zahra, Shaker}},
issn = {{1042-2587}},
journal = {{ENTREPRENEURSHIP THEORY AND PRACTICE}},
keywords = {{Economics and Econometrics,Business and International Management,FinTech entrepreneurship,venture capital,credit,entrepreneurial finance,national innovation systems,ENTREPRENEURSHIP,BUSINESS,INVESTMENT,INSTITUTIONS,TECHNOLOGY,EVOLUTION,FINANCE,BANKS,FIRMS,MANAGEMENT}},
language = {{eng}},
number = {{5}},
pages = {{1198--1230}},
title = {{Venture capital, credit, and fintech start-up formation : a cross-country study}},
url = {{http://doi.org/10.1177/1042258720972652}},
volume = {{46}},
year = {{2022}},
}
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