Fin vs. tech: are trust and knowledge creation key ingredients in fintech start-up emergence and financing?
研究了21个OECD国家226个地区在2007-2014年间，区域知识创造和对传统金融机构的信任如何影响金融科技初创企业的涌现和融资。发现IT知识比金融知识更关键，而信任缺失会促进融资但长期低信任地区整体投资较少。
Abstract We investigate how the emergence of fintech start-ups and their financing is shaped by regional knowledge creation and lack of trust in financial services incumbents across 21 OECD countries, 226 regions and over the 2007–2014 period. We find that knowledge generated in the IT sector is much more salient for fostering new fintech start-ups than knowledge generated in the financial services sector. Additionally, the importance of new knowledge created in the financial services sector (IT sector) increases (decreases) as fintech start-ups grow and seek financing. When the level of trust in financial services incumbents falls within a region, this is followed by an increase in the financing provided to fintech start-ups. Nevertheless, regions with historically low average levels of trust in financial services incumbents attract less fintech investment overall.