Table 7 Drivers of being a profitable FinTech company
From: Entrepreneurial, institutional and financial strategies for FinTech profitability
Variables | Financial information | FinTech variables | All |
|---|---|---|---|
Size | 8.485*** | 7.103*** | |
(1.388) | (1.8887) | ||
Asset structure | 0.378*** | 0.335*** | |
(0.0784) | (0.0786) | ||
Liquidity | − 0.000134 | − 0.000113 | |
(0.000178) | (0.000185) | ||
Solvency | 0.000742*** | 0.000703** | |
(0.000256) | (0.000286) | ||
Leverage | 1.74e−08 | 3.33e−07 | |
(2.47e−07) | (3.16e−07) | ||
Efficiency | 0.000993 | 0.000922 | |
(0.000731) | (0.000793) | ||
Entrepreneur | − 0.966*** | − 0.276** | |
(0.268) | (0.107) | ||
Number of partner founders | − 0.605*** | − 0.0266 | |
(0.131) | (0.0358) | ||
Single entrepreneur | 0.208** | 0.174** | |
(0.090) | (0.0827) | ||
Mobile app | 0.0840 | 0.0224 | |
(0.0948) | (0.0630) | ||
Digital tracking | 0.0025* | 0.0067*** | |
(0.0013) | (0.0014) | ||
Digitally tracked regionally | − 0.586*** | − 0.0281 | |
(0.0346) | (0.0629) | ||
Funding | − 0.0661 | − 0.090 | |
(0.0830) | (0.068) | ||
Public subsidy | − 0.0109 | − 0.00942 | |
(0.0865) | (0.0597) | ||
FinTech accelerator | 0.391*** | 0.250** | |
(0.145) | (0.0995) | ||
Bank investor | − 0.0534 | − 0.0733 | |
(0.111) | (0.100) | ||
Tech cluster | − 0.829*** | − 0.275** | |
(0.0917) | (0.136) | ||
Time trend | 0.0165* | 0.0508*** | 0.0573*** |
(0.00979) | (0.0141) | (0.0149) | |
Observations | 706 | 706 | 706 |
Number of FinTech | 170 | 170 | 170 |
Year | Yes | Yes | Yes |
Fixed Effects | Yes | Yes | Yes |
Clustered standard errors | FinTech | FinTech | FinTech |
R2 | 0.3583 | 0.5951 | 0.6119 |