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Are equity crowdfunding investors active investors?
Hornuf, Lars; Schilling, Tobias; Schwienbacher, Armin - 2019 - This Version: September 29, 2019
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
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Round-number bias in investment : evidence from equity crowdfunding
Hervé, Fabrice; Schwienbacher, Armin - In: Finance : revue de l'Association Française de Finance 39 (2018) 1, pp. 71-105
Persistent link: https://www.econbiz.de/10012025734
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Which securities regulation promotes crowdinvesting?
Hornuf, Lars; Schwienbacher, Armin - 2014
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
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Individual crowdfunding practices
Belleflamme, Paul; Lambert, Thomas; Schwienbacher, Armin - In: Venture capital : an international journal of … 15 (2013) 4, pp. 313-333
Persistent link: https://www.econbiz.de/10010213388
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Crowdfunding dynamics
Belleflamme, Paul; Lambert, Thomas; Schwienbacher, Armin - 2019 - This version: August 9, 2019
Various forms of social learning and network effects are at work on crowdfunding platforms, giving rise to … their common presence on the platform. We finally show that these crowdfunding dynamics stir platform growth, with important …
Persistent link: https://www.econbiz.de/10012057306
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Crowdfunding and the “Alternativfinanzierungsgesetz” in Austria
Schwienbacher, Armin - In: CESifo DICE Report 14 (2016) 2, pp. 33-36
Persistent link: https://www.econbiz.de/10011696966
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Which Securities Regulation Promotes Crowdinvesting?
Hornuf, Lars; Schwienbacher, Armin - 2014
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
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Crowdfunding Dynamics
Belleflamme, Paul; Lambert, Thomas; Schwienbacher, Armin - 2019
Various forms of social learning and network effects are at work on crowdfunding platforms, giving rise to … their common presence on the platform. We finally show that these crowdfunding dynamics stir platform growth, with important …
Persistent link: https://www.econbiz.de/10012140998
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Are Equity Crowdfunding Investors Active Investors?
Hornuf, Lars; Schilling, Tobias; Schwienbacher, Armin - 2019
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/10012141085
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Which Securities Regulation Promotes Crowdinvesting?
Hornuf, Lars; Schwienbacher, Armin - Volkswirtschaftliche Fakultät, … - 2014
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/10011210892