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In this paper, we show that too strong investor protection may harm small firms and, thus, entrepreneurial initiatives. This situation is particularly relevant in crowdinvesting, which refers to a recent financial innovation originating on the Internet. In general, securities regulation offers...
Persistent link: https://www.econbiz.de/10010364732
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 …
Persistent link: https://www.econbiz.de/10012119946
top-notch articles in this field. They stated that, in theory, strong signals include past crowdfunding success, business … predictors of crowdfunding success and have neither larger nor smaller standardized effect sizes than strong signals. A meta …-regression suggests that domain-specific signals play the most important role in crowdfunding. The findings of our literature review …
Persistent link: https://www.econbiz.de/10015125554
Persistent link: https://www.econbiz.de/10013175605
Fraud in the reward-based crowdfunding market has been of concern to regulators, but it is arguably of greater … trust in the market, using a sample of more than 270,000 crowdfunding campaigns from 2010 through 2018 on Kickstarter. Our … results show that crowdfunding projects launched around the public announcement of a late and significant misconduct detection …
Persistent link: https://www.econbiz.de/10014501693
the special issue of Small Business Economics focus on crowdfunding (CF) and initial coin offerings (ICOs), which are two …
Persistent link: https://www.econbiz.de/10014503720
In this paper, we show that too strong investor protection may harm small firms and, thus, entrepreneurial initiatives. This situation is particularly relevant in crowdinvesting, which refers to a recent financial innovation originating on the Internet. In general, securities regulation offers...
Persistent link: https://www.econbiz.de/10010427696
Das Kleinanlegerschutzgesetz aus dem Jahr 2015 soll durch eine stärkere Regulierung für mehr Transparenz für Anlegerinnen und Anleger auf dem »grauen Kapitalmarkt« sorgen. Das Gesetz beinhaltet jedoch auch Ausnahmeregelungen. Diese entbinden sowohl Unternehmen, die sich über eine...
Persistent link: https://www.econbiz.de/10012018081
Der Beitrag untersucht die Auswirkungen der im Sommer 2015 eingeführten Befreiungsvorschriften des Kleinanlegerschutzgesetzes. Durch eine stärkere Regulierung soll das Kleinanlegerschutzgesetz für mehr Transparenz für Anleger auf dem grauen Kapitalmarkt sorgen. Das Gesetz beinhaltet jedoch...
Persistent link: https://www.econbiz.de/10011694118
Persistent link: https://www.econbiz.de/10011696957