From Competitors to Partners: Banks’ Venture Investments in Fintech (Lecture by Prof. Manju PURI)

Prof. Manju Puri has hypothesized and found evidence that banks use venture investments in fintech startups as a strategic approach to navigate fintech competition. She first documented that banks’ venture investments have increasingly focused on fintech firms. She found that banks facing greater fintech competition are more likely to make venture investments in fintech startups. Banks target fintech firms that exhibit higher levels of asset complementarities with their own business. Finally, instrumental variable analyses showed that venture investments increase the likelihoods of operational collaborations and knowledge transfer between the investing bank and the fintech investee.
Speaker:
Manju PURI
(Visiting Professor, Tokyo College, The University of Tokyo; J.B. Fuqua Professor of Finance, Fuqua School of Business, Duke University)
Commentator:
UEDA Kenichi
(Director, Center for Advanced Research in Finance (CARF); Professor, Graduate School of Economics and the Graduate School of Public Policy, The University of Tokyo)
Moderator"
Takeo HOSHI
(Director, Tokyo College, The University of Tokyo)
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