Will I survive? Focus on Legitimacy rather than Profitability! A csQCA study of the organizational death of French online banks and ‘’so-called’’ neobanks.
In an emerging market, should new firms prioritize profitability or legitimacy for survival? Our study focuses on the survival conditions of the organizational populations of online banks and ‘’so-called’’ neobanks in the French retail banking market from 1994 to 2022. We conduct a crisp-set qualita...
Gardado en:
| Publicado en: | URI:https://journals.openedition.org/fcs, |
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| Auteurs principaux: | , |
| Formato: | Article ou chapitre numérique |
| Idioma: | Anglais |
| Publicado: |
Finance Contrôle Stratégie
2025
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| Acceso en liña: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
| Résumé: | In an emerging market, should new firms prioritize profitability or legitimacy for survival? Our study focuses on the survival conditions of the organizational populations of online banks and ‘’so-called’’ neobanks in the French retail banking market from 1994 to 2022. We conduct a crisp-set qualitative comparative analysis on all relevant cases: 17 survivors and 13 companies that have experienced organizational death. We find that Pragmatic Legitimacy (conferred by the market) is both necessary and sufficient for organizational survival or death, whereas profitability is a necessary condition. |
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