Entrepreneurial, institutional and financial strategies for FinTech profitability

Financial Innovation

Table 13 The impact of bank restructuring

Variables	Profitable	ROA
High bank closure	0.0161	− 0.0204
	(0.106)	(0.101)
Drivers of FinTech profitability	Yes	Yes
Observations	706	706
Number of FinTech	170	170
Year	Yes	Yes
Fixed Effects	Yes	Yes
Clustered standard errors	FinTech	FinTech
R²	0.6119	0.5520

This table presents the coefficients and the clustered standard errors for the panel regressions on FinTech company profitability (Column 1) and on the magnitude of FinTech company profitability (Column 2). All variables are defined in Table 2. Standard errors are clustered at the FinTech-level. A constant term (not reported) is included in all regressions.