Impact of Leadership Styles and Their Influences on the Growth of Fintech Start-ups in Zambia | Chapter 7 | New Advances in Business, Management and Economics Vol. 7

Fintech is the adoption of new technology that seeks to improve and automate the delivery and provision of financial services in business. Fintech firms that are emerging in economies have also disrupted the financial market space through their innovativeness and technological approaches to conducting business. In recent years, there has been a growing interest in financial technology (Fintech) research. This study set out to examine the relationship between leadership styles and the firm growth of Fintech start-ups in Zambia. A quantitative design employing a cross-sectional survey with the use of a Likert questionnaire was conducted on the leaders of top-performing Fintech firms in Zambia, as recognised by Tracxn in its May 2020 report. The dependent variable for the study was firm growth.  The study includes three leadership styles as independent variables (transformational, transactional, and laissez-faire leadership styles). Leadership styles were measured using the Multifactor Leadership Questionnaire. The most important finding is that, in Zambia, Fintech start-up growth is closely linked to transformational leadership, whereas transactional leadership has a minor impact. Laissez-faire leadership and firm growth have a weak but positive correlation. Two primary contributions to the Fintech literature are made by the study. First, the results can assist scholars in elucidating leadership styles that forecast Fintech start-up growth. Second, the creators of Fintech companies will be aware of the key leadership philosophies that can propel start-ups forward. The study has helped to show that firms that have embraced transformational leadership styles and varied their use of transactional and laissez-faire leadership approaches are more likely to experience Fintech firm growth. The limitations of this study relate to the sample size, the need to consider other readership styles, and the use of qualitative and longitudinal designs that would provide more insights and validation.

 

Author (s) Details

 

Progress Choongo
Department of Operations and Supply Chain Management, School of Business, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

 

Mungu Chileshe
School of Business Graduate Studies, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

Christine Nakamba Lesa
Department of Operations and Supply Chain Management, School of Business, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

 

Bruce Mwiya
Department of Business Administration, School of Business, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

 

Thomas Kweku Taylor
School of Business Graduate Studies, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

 

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v7/5309