Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for … entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding in terms of the relationship …

network even among its members. Because all projects have positive net value, it is efficient to finance them even in the …

network even among its members. Because all projects have positive net value, it is efficient to finance them even in the …

This paper introduces crowdfunding as a concept and model for the evolution of investment banking. Crowdfunding, an … application of crowdsourcing, is defined as one party’s attempt to finance a project by offering three types of investment …

. This paper investigates how the access to finance affects employment in small and medium-sized enterprises (SMEs) in Sub … growing the fastest. The impact of access to finance is stronger for firms in manufacturing than in services, pointing to … sectoral targeting of finance as a possible policy supporting industrialization. …

Using firm level data on 70,000 enterprises in 107 countries, this paper finds important effects of access to finance … systematically by firm types. Micro and small firms have less access to formal finance, pay more in bribes than do larger firms, and … downward the size distribution of firms. In the case of finance and business regulations this occurs by reducing the employment …

across the different ethnic groups studied. Once started, we found that the sources of additional finance available to these …