We propose three governance mechanisms pertinent to equity crowdfunding and campaign success through mitigating pronounced information asymmetries and agency problems. First, unlike IPOs for which the effect of Delaware incorporation has declined or disappeared over time, we propose Delaware...

Using Kickstarter, the largest global reward-based crowdfunding platform, we conduct an exhaustive search of all fraud cases from 2010 through 2015 for nine different countries. While fraud in this new market has been of concern to regulators, it is arguably of greater importance to the nascent...

Crowdfunding platform due diligence comprises background checks, site visits, credit checks, cross-checks, account monitoring, and third party proof on funding projects. We evaluate the factors associated with platforms' compliance expenses, and their due diligence application. We find that due...

Research in the area of public policy towards entrepreneurial finance has traditionally been focused on financing gaps, and whether or not government programs successfully address market failures for those financing gaps. More recently, a growing literature has identified externalities across...

Policy-makers expect equity crowdfunding to democratize entrepreneurial finance, by providing access to funding to underrepresented groups of potential entrepreneurs. This paper investigates whether gender, age, ethnicity, and geography affect the choice of equity crowdfunding offerings vs...

This study examines the causal relationships between inequality, poverty, and entrepreneurship. We hypothesize that income inequality influences entrepreneurial activity, and entrepreneurial activity alleviates absolute poverty. Findings from a longitudinal analyses of a dataset from all 50 U.S....

We investigate the differences in venture capital (VC) governance of investee firms with Open Business Models (OBMs), specifically Open Source Software (OSS), versus closed business models. Due to OSS's pronounced complexity and uncertainty, we conjecture that VC-backed OSS firms are more...

We investigate the career dynamics of high-tech entrepreneurs by analyzing the exit choice of entrepreneurs: to act as a business angel, to found another firm, or to become dependently employed. Our detailed data from CrunchBase indicate that founders are more likely to stick with...

Entrepreneurial finance literature is largely segmented. Different streams of the academic literature between entrepreneurship and finance have become segmented for reasons of theoretical tractability and data availability. In this paper, we discuss the origins and the effects of segmentation by...

The aim of this chapter is to discuss entrepreneurial finance in the realm of modern entrepreneurship. We focus in particular on two forms of public entrepreneurial finance: IPOs and crowdfunding. We explain the evolution of IPO research and identify how research on crowdfunding might evolve....