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 …

platforms in 37 countries that explores whether lenders follow each other in the whole crowdfunding market, within the groups of … and highlight the controversial effects of signaling mechanisms on adverse selection in crowdfunding markets. …

Various forms of social learning and network effects are at work on crowdfunding platforms, giving rise to … their common presence on the platform. We finally show that these crowdfunding dynamics stir platform growth, with important …

Crowdfunding provides innovation in enabling entrepreneurs to contract with consumers before investment. Under … information threatens this benefit. Despite these threats, popular crowdfunding schemes are able to implement optimal screening … mechanisms. Crowdfunding's after-markets enable consumers to actively implement deferred payments and thereby optimally manage …

For reward-based crowdfunding, we introduce the strategy-proof Generalized Moulin-Shenker mechanism (GMS) and compare … at maximizing funding success. For crowdfunding in practice, this implies that the current standard of financing projects … could be improved upon by implementing a crowdfunding mechanism that is similar to the dynamic GMS. …

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 …

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