FinTech venture capital
By Douglas J. Cumming, Armin Schwienbacher. The Routledge Handbook of FinTech, 2018
120 citations recorded by the source corpus.
We document a notable change in the pattern of fintech VC investments around the world relative to other types of investments after the global financial crisis. We argue that the spike in fintech VC in certain countries is attributable to differential enforcement of financial institution rules amongst start-ups versus large established financial institutions after the financial crisis. Consistent with this regulatory arbitrage view, we show the marked increase in fintech is more pronounced in countries without a major financial center. Also, we show the fintech boom is more pronounced for smaller private limited partnership VCs that likely have less experience with prior VC booms and busts. These fintech VC deals are less likely to be successfully exited as IPOs and acquisitions, and substantially more likely to be liquidated, especially when located in countries without a major financial center.
Subfields: Accounting, Management Information Systems
View Paper: https://www.semanticscholar.org/paper/7a45fcb9e45d29085682c64768af65c286a25117
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Citations in the corpus
- Sustainability in FinTechs: An Explanation through Business Model Scalability and Market Valuation (2020, methodology): “Balance-sheet based Venture capital method [54,55] Expected dividends per share/Dividend discount models”
- The emergence of the global fintech market: economic and technological determinants (2016, background): “Cumming and Schwienbacher (2016) examine venture capitalist investments in fintech startups around the world.”