The Impact of the Regulatory Sandbox on the FinTech Industry
2022; RELX Group (Netherlands); Linguagem: Inglês
10.2139/ssrn.4187295
ISSN1556-5068
AutoresThomas Hellmann, Alexander Montag, Nir Vulkan,
Tópico(s)Sharing Economy and Platforms
ResumoDownload This Paper Open PDF in Browser Add Paper to My Library Share: Permalink Using these links will ensure access to this page indefinitely Copy URL The Impact of the Regulatory Sandbox on the FinTech Industry 36 Pages Posted: 18 Aug 2022 See all articles by Thomas F. HellmannThomas F. HellmannUniversity of Oxford - Said Business School; University of Oxford - Said Business School; European Corporate Governance InitiativeAlexander MontagSaïd Business School, University of Oxford; Research Institute of Industrial Economics (IFN)Nir VulkanUniversity of Oxford - Said Business School Date Written: August 2022 Abstract We investigate the impact of the UK regulatory sandbox on the UK FinTech industry. By now regulatory sandboxes operate in 57 countries and have become an important policy tool for governments to support the emergence of a FinTech sector. We use comprehensive data from the UK regulatory sandbox which was the first sandbox ever created and has the largest number of participating companies overall. We find evidence of positive externalities at the industry level. Participation in the sandbox by one start-up is followed by increased entry and more money being raised by other start-ups in the same industry. There is some evidence that the sandbox screens out better companies, but we find no evidence that companies' momentum significantly increases after their participation in the sandbox. Keywords: Regulatory Sandbox, FinTech, Financial Regulation, Start-Ups JEL Classification: G28, M13, O38 Suggested Citation: Suggested Citation Hellmann, Thomas F. and Montag, Alexander and Vulkan, Nir, The Impact of the Regulatory Sandbox on the FinTech Industry (August 2022). Available at SSRN: https://ssrn.com/abstract=4187295 Thomas F. Hellmann University of Oxford - Said Business School ( email ) Park End StreetOxford, OX1 1HPGreat Britain+44 (0)1865 288937 (Phone) HOME PAGE: http://www.sbs.ox.ac.uk/community/people/thomas-hellmann University of Oxford - Said Business School ( email ) Park End StreetOxford, OX1 1HPGreat Britain+44 (0)1865 288937 (Phone) HOME PAGE: http://www.sbs.ox.ac.uk/community/people/thomas-hellmann European Corporate Governance Initiative ( email ) c/o the Royal Academies of BelgiumRue Ducale 1 Hertogsstraat1000 BrusselsBelgium Alexander Montag Saïd Business School, University of Oxford ( email ) Park End StreetOxford, OX1 1HPGreat Britain HOME PAGE: http://www.sbs.ox.ac.uk/about-us/people/alexander-montag Research Institute of Industrial Economics (IFN) ( email ) Box 55665Grevgatan 34, 2nd floorStockholm, SE-102 15Sweden Nir Vulkan (Contact Author) University of Oxford - Said Business School ( email ) Park End StreetOxford, OX1 1HPGreat Britain+44 01865 288929, or 288338 (Phone)+44 01865 288805 (Fax) HOME PAGE: https://vulkan.worc.ox.ac.uk/ Download This Paper Open PDF in Browser Do you have a job opening that you would like to promote on SSRN? 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