Alliances in Financial Ecosystems: A Source of Organizational Legitimacy for Fintech Startups and Incumbents

Svensson, Christopher; Udesen, Jakob; Webb, Jane

doi:10.22215/timreview/1209

Cited by 26 publications

(36 citation statements)

References 25 publications

(41 reference statements)

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…These findings confirm previous work of Svensson et al, (2019), highlighting the relational dependency of parts of the FinTech industry on alliances with financial incumbents who meet their needs for market legitimacy by allowing them to use their banking licences and infrastructure. Therefore, financial incumbents can be seen as brokers (Morrison, 2008), allowing start-ups to access a wider customer base.…”

Section: Location Decisions Of Entrepreneurial Actorssupporting

confidence: 89%

“…Second, they complement previous research (Clark and Wrigley, 1997;D€ orry, 2017;Hill et al, 2019;Johns, 2016;Stam, 2007;Svensson et al, 2019) and address the call of Alvedalen and Boschma (2017) by illustrating that not all types of entrepreneurial actors respond to political uncertainty and institutional change in the same way. Rather, their strategic responses are influenced by their exposure to and capacity to cope with political uncertainties and potential institutional changes, which vary with regards to their business characteristics and egocentric network structures (Stuart and Sorenson, 2005).…”

Section: Discussionsupporting

confidence: 66%

“…In addition, we aimed at putting a stronger emphasis on concepts discussed in the social network literature (Stuart and Sorenson, 2005), such as egocentric networks, the relative importance of non-local versus local linkages, and certain network features, such as diversity and connectivity. Secondly, they complement previous research (Clark and Wrigley, 1997;Dörry, 2017;Hill et al, 2019;Johns, 2016;Stam, 2007;Svensson et al, 2019) and address the call of Alvedalen and Boschma (2017) by illustrating that not all types of entrepreneurial actors respond to political uncertainty and institutional change in the same way. Rather, their strategic responses are influenced by their exposure to and capacity to cope with political uncertainties and potential institutional changes, which vary with regards to their business characteristics and egocentric network structures (Stuart and Sorenson, 2005).…”

Section: Discussionmentioning

confidence: 59%

See 2 more Smart Citations

The impact of Brexit on London’s entrepreneurial ecosystem: The case of the FinTech industry

Sohns

Wójcik

2020

Environ Plan A

View full text Add to dashboard Cite

This paper analyses how different entrepreneurial actors respond to political uncertainty and changing institutional settings. Moreover, it discusses the impact of those actor-level responses on the resilience of entrepreneurial ecosystems (EEs), focusing on how they affect the diversity of and the connectivity among its actors. To address these questions, the paper examines how the decision of the United Kingdom to leave the European Union has influenced the financial technology (FinTech) industry in London, applying data collected from in-depth interviews, covering different groups of stakeholders in London’s FinTech industry, such as angel investors, banks, legal advisers, lobby organizations and private companies. Our results show that political uncertainty and the prospect of institutional change can trigger actor-level responses, which have the potential to modify the diversity as well as the local and non-local connectivity of an EE. Moreover, we demonstrate that the nature of strategic responses of entrepreneurial actors varies significantly, depending on their firms’ characteristics, such as age, size, product specialization and the structure of their egocentric networks. With regard to the latter, our results show that anchor firms play an important role in other firms’ egocentric networks and have the power to shape their strategic responses.

show abstract

Section: Location Decisions Of Entrepreneurial Actorssupporting

confidence: 89%

Section: Discussionsupporting

confidence: 66%

Section: Discussionmentioning

confidence: 59%

See 1 more Smart Citation

The impact of Brexit on London’s entrepreneurial ecosystem: The case of the FinTech industry

Sohns

Wójcik

2020

Environ Plan A

View full text Add to dashboard Cite

show abstract

“…In foreign scientific literature, the issues of the functioning of financial ecosystems are explored by I. Lee and Y. Shin [3], K. Swenson, J. Yudesen and J. Webb [4], C. Bose [5], Z. Posser [6] and others. The most of works of domestic scientists concern the analysis of only certain types of financial ecosystems, in particular, cashless payments in the agricultural sector [7], banking ecosystem [8].…”

mentioning

confidence: 99%

“…So, I. Lee and Y. Shin include technology developers, government agencies and regulators; private and corporate financial clients; traditional financial institutions to the financial ecosystem [3]. K. Swenson, J. Yudesen and J. Webb add another compo-nent to these participants -FinTech startups [4]. This approach is also supported by the National Bank of Ukraine.…”

mentioning

confidence: 99%

Blockchain Technology in the Financial Ecosystem

Volosovych¹,

Yuriy²

2019

Herald of KNUTE

View full text Add to dashboard Cite

The relationship between the development of financial technologies and the formation of the financial ecosystem has been investigated. It is proposed to divide the properties of the financial ecosystem into general and specific ones. The definition of the financial ecosystem has been clarified on the basis of identification of the institutional, functional and sectoral approaches to its understanding. The signs of classification of blockchains in the financial sphere are systematized.

show abstract