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to large numbers of investors, each of whom only invests a small dollar amount. This “crowdfunding” of securities is a …
Persistent link: https://www.econbiz.de/10013034706
Securities crowdfunding — the sale of unregistered securities to the public over the Internet — has come under attack … in crowdfunding companies. Even assuming that this may be true from a purely financial perspective, these critics are … building. These nonfinancial returns of crowdfunding are readily apparent in the donation and reward context, and this …
Persistent link: https://www.econbiz.de/10013017019
-stage financing through Internet crowdfunding. Teens, being masters of the Internet, are well positioned to exploit this new … opportunity, with the upshot being that securities crowdfunding may become an important way for youthful entrepreneurs to fund …
Persistent link: https://www.econbiz.de/10013022816
Title III of the JOBS Act of 2012 (“Regulation Crowdfunding”) should encourage entrepreneurship by allowing startups …-to-peer financing in the Internet era; as a result, it got Internet-investor protection wrong. Using Regulation Crowdfunding requires … Regulation Crowdfunding to deploy high-growth strategies without needing more funds from professional Angel and Venture investors …
Persistent link: https://www.econbiz.de/10012937568
In an initial coin offering (ICO), new ventures raise capital by selling tokens to a crowd of investors. Often, this token is a cryptocurrency, a digital medium of value exchange based on the distributed ledger technology. Both the number of ICOs and the amount of capital raised have exploded...
Persistent link: https://www.econbiz.de/10012924063
This paper first presents the development of the crowdinvesting market in Europe since its start in 2007. Then, using hand-collected data on the complete set of crowdinvesting campaigns run in Germany, the paper shows that successful campaigns tend to be launched by new startups and when the...
Persistent link: https://www.econbiz.de/10010439156
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 …
Persistent link: https://www.econbiz.de/10012175802
Using Kickstarter, the largest global reward-based crowdfunding platform, we conduct an exhaustive search of all fraud … late and visible suspension of a crowdfunding campaign tend to have a lower probability of success, fewer backers, and … fraudsters in crowdfunding markets. We find fraudsters are less likely to have engaged in prior crowdfunding activities, are less …
Persistent link: https://www.econbiz.de/10012855212
Crowdfunding, a new Internet-based securities market, was recently authorized by federal and state law in order to … systematically examines this “trio of problems” and potential solutions in the context of crowdfunding. It begins by considering … companies — can be borrowed by crowdfunding. Unfortunately, these methods, especially the most powerful among them, will not …
Persistent link: https://www.econbiz.de/10013009706
Although an extensive literature shows that startups are financially constrained and that constraints vary by geography, the source of these constraints is still relatively unknown. We explore intermediary financing constraints, a channel studied in the banking literature, but only implicitly...
Persistent link: https://www.econbiz.de/10013233796