Performance of FinTechs: Are founder characteristics important?

Ekaterina Koroleva, Laivi Laidroo and Mari Avarmaa

Journal of East European Management Studies, 2021, vol. 26, issue 2, 306-338

Abstract: Building on the resource-based view of entrepreneurship, we examine the association between founder characteristics and performance of FinTechs, high-growth technology-driven companies. We use cross-sectional regression models on a dataset of 132 FinTechs from Russia. The results show that FinTechs established by companies perform better than FinTechs established by individuals. Further, FinTechs founded by persons with banking backgrounds grow more quickly. In contrast to economics or business education, a combination of IT education and banking experience is also associated with greater company growth. Our results provide insights into the resource-based view of entrepreneurship, demonstrating that a FinTech founder’s characteristics play an important role in its success. While parent company support creates a stronger competitive advantage for FinTechs in the establishment phase, the combination of IT education and banking experience are a difficult-to-imitate asset for FinTechs founded by individuals.

Date: 2021
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DOI: 10.5771/0949-6181-2021-2-306

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