FINANCIAL SUPPORT AND COMPETITIVE ADVANTAGE OF SELECTED FINANCIAL TECHNOLOGY FIRMS IN LAGOS STATE, NIGERIA
Journal Title: Malete Journal of Accounting and Finance - Year 2024, Vol 4, Issue 2
Abstract
The competitive landscape of financial technology (fintech) industry in Nigerian is challenged by several factors such as underserved consumer needs, as well as funding shrinkage occasioned by global investment decline. This recoil necessitates a deep understanding of the factors that affects their competitive advantage. This study thus investigates the impact of financial support, a business incubation strategy on competitive advantage of fintech firms in Lagos State, Nigeria. This study adopts a survey research design to collect primary data from a population of 200 owners/managers of registered fintech firms in Lagos State, Nigeria. Total enumeration was used to determine the sample size of 200 owner/managers. Data was collected using an adapted and close ended questionnaire and a response rate of 73% (146) was obtained. The validity and reliability of the research instrument was established using Average Variance Extracted, Composite Reliability, and Cronbachâs alpha coefficients, thus ensuring its accuracy and consistency. Descriptive statistics and inferential statistics were utilised to analyse the data. The findings of the study revealed that financial support does not exhibit a significant effect on competitive advantage (β = 0.067, R2= 0.028, p > 0.05) fintech firms in Lagos State, Nigeria. Based on the conducted investigation, it is clear that the impact of financial support alone on competitive advantage in fintech enterprises may not be statistically significant. The study therefore recommends that fintech companies in Lagos State, Nigeria should pay attention to other factors not limited to financial support, to help meet the growing consumer needs and build their competitive advantage
Authors and Affiliations
Ayodeji Gbenga Bamidele,Edafe Bawa Dogo,
Keywords
Related Articles
- EP ID EP745096
- DOI -
- Views 1
- Downloads 0
FORENSIC ACCOUNTING AND PUBLIC PROCUREMENT FRAUD PREVENTION: EVIDENCE FROM OSUN STATE, NIGERIA
Despite the existing controls and planning mechanisms put in place by the public sector, instances of fraud and corruption in public procurement remain prevalent. Forensic accounting with its focus on detailed analysis o...
FINANCIAL SUPPORT AND COMPETITIVE ADVANTAGE OF SELECTED FINANCIAL TECHNOLOGY FIRMS IN LAGOS STATE, NIGERIA
The competitive landscape of financial technology (fintech) industry in Nigerian is challenged by several factors such as underserved consumer needs, as well as funding shrinkage occasioned by global investment decline....
GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA
In the quest to unravel the intricate dynamics shaping Nigeria's economic trajectory, this study delves into the relationship between capital expenditure and economic growth over a three-decade period, spanning from 1992...
AUDIT COMMITTEE CHARACTERISTICS AND EARNINGS MANAGEMENT AMONG LISTED DEPOSIT MONEY BANKS IN NIGERIA
Unethical financial reporting practice may be linked to audit committee characteristics; hence this study investigated the impact of audit committee characteristics on earnings management among listed deposit money banks...
HISTORICO-LEGAL AND SOCIOCULTURAL CAUSES AND THE IMPLICATIONS OF PEASANTSâ REVOLT AGAINST TAXATION IN IBADAN, WESTERN NIGERIA
The expectation that the Nigerian elites who were vested with political power at independence in 1960 would improve the lives of the populace appeared to be misplaced, because the nascent Nigerian state bounced from one...