Banques et fintechs: le capital-investissement comme éléments de différenciation entre groupes bancaires coopératifs et à capital-actions

Valerie Lelievre (), Jean-Noël Ory () and Jonathan Labbé ()
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Valerie Lelievre: BETA - Bureau d'Économie Théorique et Appliquée - AgroParisTech - UNISTRA - Université de Strasbourg - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement
Jean-Noël Ory: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine
Jonathan Labbé: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

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Abstract: This paper examines how French banking groups engage in fintech financing, distinguishing cooperative banks from shareholder-owned banks. Drawing on agency theory and the resource- based view, we analyze whether organizational form shapes banks' investment strategies toward fintechs. Using an original dataset covering the period 2000-2025 and binomial and multinomial logit models, we show that differences between bank types lie less in the decision to invest than in how they invest. In particular, cooperative and shareholder-owned banks differ in terms of geographic focus, timing of entry, and the types of fintechs they finance.

Keywords: Venture capital; Fintechs; Bank governance; Financial; Cooperative banks; Innovation; Banques coopératives; Gouvernance bancaire; Capital-investissement (search for similar items in EconPapers)
Date: 2026-03-20
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Published in 5è édition de la journée 3F, Laboratoire GRECO et LOaboratoire VALLOREM Orléans Tours, Mar 2026, Dijon, France

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05523211

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