Entrepreneurial opportunity evaluation for financial technology decision

Abstract Purpose Financial technology (FinTech) is increasingly associated with digital transformation and broader sustainability-oriented economic objectives. Although previous studies have extensively examined technological and organizational determinants of FinTech adoption, less attention has been given to the entrepreneurial cognitive processes associated with strategic technology investment decisions. This study examines the relationship between Entrepreneurial Opportunity Evaluation (EOE) and Financial Technology Decisions (FTD) among Thai financial institutions and assesses the mediating roles of Risk Re-Categorization (RRC), Financing Constraints Alleviation (FCA), Information Asymmetry Reduction (IAR), and Operational Efficiency Incentives (OEI). Design/methodology/approach A quantitative survey was conducted among Chief Financial Officers (CFOs) of firms listed on the Stock Exchange of Thailand (SET). Data were collected from 32 financial institutions and analyzed using Hayes’ PROCESS macro with bias corrected bootstrapping to examine the proposed mediation model. Findings The findings indicate that Entrepreneurial Opportunity Evaluation significantly influences Financial Technology Decisions both directly and indirectly. Risk Re Categorization, Financing Constraints Alleviation, and Information Asymmetry Reduction significantly mediate this relationship, whereas Operational Efficiency Incentives do not exhibit a significant mediating effect. Among the mediators, Financing Constraints Alleviation demonstrates the strongest indirect influence, suggesting that improved access to financial resources constitutes a primary strategic motivation for FinTech adoption within Thai financial institutions. Research limitations/implications The study is based on a relatively small sample of publicly listed financial institutions in Thailand, which may limit the generalizability of the findings. Future research should employ longitudinal and cross-country designs to examine how entrepreneurial opportunity evaluation influences digital transformation across different institutional contexts. Originality/value This study extends entrepreneurial cognition research by examining Entrepreneurial Opportunity Evaluation as an antecedent associated with strategic FinTech decisions. By integrating Resource Dependence Theory and Dynamic Capabilities Theory, it evaluates organizational mechanisms through which entrepreneurial evaluation is statistically linked to technology decisions. The sustainability discussion is framed as a broader implication rather than a directly measured outcome: the observed mechanisms may be relevant to financial inclusion, information transparency, organizational resilience, and sustainability-oriented digital transformation, particularly in relation to SDGs 8 and 9.