Abstract
Building on the literature on scaling and international business, the study posits that a digital business model accelerates growth by offering economies of scale beyond those possible through a traditional business model. This is important for services such as financial advice where face-to-face interaction is both critical as well as what limits the potential for growth. A matched sample of digital and non-digital foreign entrants in the U.S. financial advice industry found that while a digital business model accelerates foreign market growth, it is not suited to environments that demand diverse service offerings or those dominated by a few customers.
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