Social Capital and Knowledge Transfer in Nigerian Fintech SMEs
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Small and medium-sized enterprises (SMEs) are becoming more critical to the economic prosperity of any country and thus requires knowledge transfer to be more competitive. In developing economies like Nigeria, there is typically a strong need for knowledge transfer due to the lack of institutional capacity to manage knowledge development and transmission, affecting organisations. In the relationships and exchanges between SMEs and the competitive environment, there is a wealth of information and experience to draw from the Fintech Industry in Lagos, Nigeria, which is the focus of this study. The motivation for Fintech as the focus of the study stems from the arguments from scholars that while payments may be made quickly and easily via FinTech; nevertheless, the industry has also had to deal with the difficulties of operating a digital company in Lagos, Nigeria, which culminates from inadequate knowledge, mistrust from customers, insufficient capital, low-level of innovation and industry regulations among others. This study adopted a quantitative methodology which allowed the analysis of respondents’ responses. In this regard, a total of 60 respondents were sampled, and questionnaires on the research statements on social capital and knowledge transfer were asked. Using ordinal regression analysis, findings indicate that while binding and bridging social capital promote tacit knowledge transfer, linking social capital reduced the level of tacit knowledge transfer among the selected Fintech SMEs in Lagos, Nigeria. Also, it was discovered that social capital through binding, bridging, and linking approaches advances the level of explicit knowledge transfer among the selected Fintech SMEs in Lagos, Nigeria. While this study has contributed to the extant literature on the relationship between social capital and knowledge transfer by focusing on Fintech SMEs in Lagos, Nigeria, other possible channels of the empirical investigation were suggested in this study.