equity crowdfunding direct their investments to local firms. In line with agency theory, the results suggest that investors …-ups that run into insolvency or are dissolved, which indicates that local investments in equity crowdfunding constitute a …

It is often assumed that entrepreneurs retain more control of their venture when they opt for equity crowdfunding as … by analysing the cash flow and control rights crowd investors receive in equity crowdfunding in Germany, where more … capital investment contracts are also used in equity crowdfunding contracts. We find that crowd investors are asked to pay …

In this article, we examine how investor motives affect investment behavior in equity crowdfunding. In particular, we … compare the investment behavior of sustainability-oriented with ordinary crowd investors on six leading equity crowdfunding … Dorfleitner et al. (2019). In general, we find evidence of a default shock in equity crowdfunding that occurs immediately after …

-collected data from 38 different equity crowdfunding (ECF) portals and 656 firms that ran at least one successful ECF campaign in …

During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In …