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SMEs fintech financing: does board governance matter?

Gadjah Mada International Journal of Business (GamaIJB) · Vol. 26 No. 2 (2024) · pp. 185–207

DOI
10.22146/gamaijb.66123
ISSN
2338-7238, 1411-1128
Published
2024-05-02
Publisher
Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada
Language
eng
License
creativecommons.org/licenses/by-sa/4.0

Abstract

The purpose of this study is to examine the board governance factors that influence a small and medium enterprise’s (SME’s) decision toward fintech financing. A structured questionnaire survey of 90 Malaysian SMEs was used and the data analyzed using the Heckman selection model and the marginal effect model. The results demonstrate that SMEs’ female board members, family board members, and the duality of their CEOs have a significant influence on their decision to obtain financing from fintech platforms. Professional services provided by experts have a negative influence on their decisions to engage in fintech financing. The SMEs’ board size, the length of their chairmen’s service, and non-family board members are negatively related to their decisions to apply for financing. The more male members that were on the board, the more likely the SME was to choose to apply for external financing during the survey year.

Keywords

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2 authors · 1 co-authorship link

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  • Universiti Tunku Abdul Rahman
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Metadata source: OAI-PMH (metadata jurnal) https://journal.ugm.ac.id/gamaijb/oai, first harvested 28 Okt 2026, last seen 28 Okt 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en-US">SMEs fintech financing: does board governance matter?</dc:title>
	<dc:creator>zakaria, zuriawati</dc:creator>
	<dc:creator>Kuah, Yoke Chin</dc:creator>
	<dc:subject xml:lang="en-US">Financial Economics;  Corporate Finance and Governance</dc:subject>
	<dc:subject xml:lang="en-US">Fintech Financing; Apply Finance; CEO Duality; Board structure</dc:subject>
	<dc:subject xml:lang="en-US">G32, G39</dc:subject>
	<dc:description xml:lang="en-US">The purpose of this study is to examine the board governance factors that influence a small and medium enterprise’s (SME’s) decision toward fintech financing. A structured questionnaire survey of 90 Malaysian SMEs was used and the data analyzed using the Heckman selection model and the marginal effect model. The results demonstrate that SMEs’ female board members, family board members, and the duality of their CEOs have a significant influence on their decision to obtain financing from fintech platforms. Professional services provided by experts have a negative influence on their decisions to engage in fintech financing. The SMEs’ board size, the length of their chairmen’s service, and non-family board members are negatively related to their decisions to apply for financing. The more male members that were on the board, the more likely the SME was to choose to apply for external financing during the survey year.</dc:description>
	<dc:publisher xml:lang="en-US">Master in Management, Faculty of Economics and Business, Universitas Gadjah Mada</dc:publisher>
	<dc:contributor xml:lang="en-US"></dc:contributor>
	<dc:date>2024-05-02</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.ugm.ac.id/gamaijb/article/view/66123</dc:identifier>
	<dc:identifier>10.22146/gamaijb.66123</dc:identifier>
	<dc:source xml:lang="en-US">Gadjah Mada International Journal of Business; Vol 26, No 2 (2024): May-August; 185-207</dc:source>
	<dc:source>2338-7238</dc:source>
	<dc:source>1411-1128</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.ugm.ac.id/gamaijb/article/view/66123/39121</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2024 Gadjah Mada International Journal of Business</dc:rights>
	<dc:rights xml:lang="en-US">http://creativecommons.org/licenses/by-sa/4.0</dc:rights>
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