Is Equity-Based Crowdfunding a Feast of the Public?
نویسندگان
چکیده
منابع مشابه
Equity crowdfunding: A new phenomena
Crowdfunding has recently become available for entrepreneurs. Most academic studies analyse data from rewards-based (pre-selling) campaigns. In contrast, in this paper we analyse 636 campaigns, encompassing 17,188 investors and 64,831 investments between 2012 and 2015, from one of the leading European equity crowdfunding platforms. We provide descriptive statistics and carry out cross-campaign ...
متن کاملSignaling in Equity Crowdfunding
This paper presents an empirical examination of which start-up signals will small investors to commit financial resources in an equity crowdfunding context. We examine the impact of firms’ financial roadmaps (e.g., preplanned exit strategies such as IPOs or acquisitions), external certification (awards, government grants and patents), internal governance (such as board structure), and risk fact...
متن کاملPredicting Success in Equity Crowdfunding
Equity crowdfunding is an increasingly popular means of raising capital for early stage startups. It enables entrepreneurs to finance their companies with smaller contributions from a variety of people. This paper studies the relationship between the characteristics of a given company and its ability to raise funds on an equity crowdfunding platform. A series of statistical and machine learning...
متن کاملAre Syndicates the Killer App of Equity Crowdfunding?
Information asymmetry presents a challenge to equity crowdfunding just as in other markets for equity capital. Investors are less likely to finance startups when it is difficult to assess quality. We argue that syndicates reduce market failures caused by information asymmetry by shifting the focal investment activities of the crowd from startups to lead investors. Syndicates align incentives of...
متن کاملImproving the Role of Equity Crowdfunding in Europe's Capital Markets
• Equity crowdfunding is more complex than other forms of crowdfunding and requires proper checks and balances if it is to provide a viable channel for financial intermediation in the seed and early-stage market in Europe. It is important to explore this new channel of funding for young and innovative firms given the critical role these start-ups can play job creation and economic growth in Eur...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Finance
سال: 2016
ISSN: 2161-0967,2161-0975
DOI: 10.12677/fin.2016.61001