On crowdinvesting-platforms, non-publicly traded companies can offer equity to private investors. Currently, platforms … rationing of excessive demand is not optimal. It describes the characteristics that rationing of excessive demand has to imply …

implementation is offered as well. -- crowdinvesting ; market microstructure ; rationing ; equity ; underpricing ; excessive demand …On crowdinvesting-platforms, non-publicly traded companies can offer equity to private investors. Currently, platforms … rationing of excessive demand is not optimal. It describes the characteristics that rationing of excessive demand has to imply …

entrepreneur who sells corporate equity to a "crowd" of investors on such a platform chooses a fixed investment target before the …

entrepreneur who sells corporate equity to a "crowd" of investors on such a platform chooses a fixed investment target before the …

The disclosure requirements for firms issuing equity on German crowdinvestingplatforms are quite lax at the moment …

The disclosure requirements for firms issuing equity on German crowdinvestingplatforms are quite lax at the moment … recommendation for the practical implementation of improved disclosure requirements is offered. -- crowdinvesting ; market … microstructure ; disclosure requirements ; equity ; asymmetric information ; entrepreneur …

The underpricing of initial public offerings is a well-documented fact of empirical equity market research. Theories … explain this underpricing with market imperfections. We study three empirically relevant IPO mechanisms under almost perfect … report underpricing in each of these IPO mechanisms. Uncertainty about the aftermarket behavior may partly explain IPO excess …