Table 4 Yearly overview of panel...

Table 4

Yearly overview of panel datasets' construction

Year	N. of treated FinTechs	N. of control FinTechs	Total n. of FinTechs	Cumulative n. of FinTechs
Equity agreements
2009	1	2	3	3
2013	1	2	3	6
2014	1	2	3	9
2015	2	4	6	15
2016	3	6	9	24
2017	4	8	12	36
2018	4	8	12	48
2019	6	12	18	66
2020	5	10	15	81 (*)
Contractual agreements
2013	1	2	3	3
2015	3	6	9	12
2016	4	8	12	24
2017	2	4	6	30
2018	7	14	21	51
2019	9	18	27	78
2020	6	12	18	96
2021	4	8	12	108 (**)

Year	N. of treated FinTechs	N. of control FinTechs	Total n. of FinTechs	Cumulative n. of FinTechs
Equity agreements
2009	1	2	3	3
2013	1	2	3	6
2014	1	2	3	9
2015	2	4	6	15
2016	3	6	9	24
2017	4	8	12	36
2018	4	8	12	48
2019	6	12	18	66
2020	5	10	15	81 (*)
Contractual agreements
2013	1	2	3	3
2015	3	6	9	12
2016	4	8	12	24
2017	2	4	6	30
2018	7	14	21	51
2019	9	18	27	78
2020	6	12	18	96
2021	4	8	12	108 (**)

Note(s): PSM is performed every year in which an equity or contractual agreement is established. For each year, treated FinTech are matched with two control units, which are excluded from the PSM of the following year. Matching variables are ROA, revenues, efficiency, leverage, intangibles, size, age, customer segment and product offered to the market

(*) Final number of FinTechs in the panel dataset focused on equity agreement, with a total of 442 records

(**) Final number of FinTechs in the panel dataset focused on contractual agreement, with a total of 560 records

Source(s): Table was created by the authors

[ViewLarge]

Sharing Unavailable