The effect of FinTech development on entrepreneurship without macroeconomic control variables
| MMQR | ||||||
|---|---|---|---|---|---|---|
| ENTit | Location | Scale | Q(0.25) | Q(0.50) | Q(0.75) | 2SLS |
| Panel A: | ||||||
| FINTECHit | 0.475* (0.264) | −0.345** (0.167) | 0.722** (0.286) | 0.495* (0.264) | 0.222 (0.298) | 0.475* (0.265) |
| Constant | −2.839** (1.322) | 2.877*** (0.838) | −4.898*** (1.451) | −3.012** (1.326) | −0.736 (1.505) | −2.839** (1.296) |
| Panel B: | ||||||
| FINTECHit | 0.570*** (0.196) | −0.128 (0.123) | 0.678*** (0.209) | 0.573*** (0.196) | 0.476** (0.229) | 0.570*** (0.196) |
| INSTit | 0.482*** (0.038) | −0.0723*** (0.024) | 0.544*** (0.040) | 0.484*** (0.037) | 0.429*** (0.046) | 0.482*** (0.040) |
| Constant | −3.302*** (0.972) | 1.487** (0.610) | −4.563*** (1.040) | −3.342*** (0.968) | −2.213* (1.159) | −3.302*** (0.962) |
| Panel C: | ||||||
| FINTECHit | 0.567*** (0.191) | −0.119 (0.120) | 0.669*** (0.204) | 0.570*** (0.190) | 0.478** (0.223) | 0.567*** (0.198) |
| FINTECHit × INSTit | −0.012 (0.091) | 0.035 (0.057) | −0.042 (0.097) | −0.013 (0.090) | 0.014 (0.105) | −0.012 (0.097) |
| INSTit | 0.538 (0.440) | −0.240 (0.276) | 0.745 (0.470) | 0.545 (0.438) | 0.359 (0.514) | 0.538 (0.467) |
| Constant | −3.290*** (0.947) | 1.445** (0.595) | −4.530*** (1.018) | −3.332*** (0.942) | −2.214* (1.134) | −3.290*** (0.970) |
| Observations | 179 | 179 | 179 | 179 | 179 | 179 |
| MMQR | ||||||
|---|---|---|---|---|---|---|
| Location | Scale | Q(0.25) | Q(0.50) | Q(0.75) | 2SLS | |
| 0.475 | −0.345 | 0.722 | 0.495 | 0.222 (0.298) | 0.475 | |
| Constant | −2.839 | 2.877 | −4.898 | −3.012 | −0.736 (1.505) | −2.839 |
| 0.570 | −0.128 (0.123) | 0.678 | 0.573 | 0.476 | 0.570 | |
| 0.482 | −0.0723 | 0.544 | 0.484 | 0.429 | 0.482 | |
| Constant | −3.302 | 1.487 | −4.563 | −3.342 | −2.213 | −3.302 |
| 0.567 | −0.119 (0.120) | 0.669 | 0.570 | 0.478 | 0.567 | |
| −0.012 (0.091) | 0.035 (0.057) | −0.042 (0.097) | −0.013 (0.090) | 0.014 (0.105) | −0.012 (0.097) | |
| 0.538 (0.440) | −0.240 (0.276) | 0.745 (0.470) | 0.545 (0.438) | 0.359 (0.514) | 0.538 (0.467) | |
| Constant | −3.290 | 1.445 | −4.530 | −3.332 | −2.214 | −3.290 |
| Observations | 179 | 179 | 179 | 179 | 179 | 179 |
Standard errors in parentheses; ***p < 0.01, **p < 0.05, *p < 0.1
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