Despite the growing popularity of investment-based crowdfunding, we know little about what platforms do before the campaign. This is one of the first studies to provide cross-platform evidence on investment-based crowdfunding. First, we describe the regulation and development over time of...

Online platforms create "more perfect" markets. Online platforms are a market-driven cure to the imperfections of the EU's incomplete Single Market. Platforms provide well-functioning technical infrastructures that allow users to easily deal with country-specific legislation in the EU, e.g. VAT...

We compare European Indices (DJ Stoxx 600, Eurostoxx 50, FTSE 100) to US Indices (Russell 2000, S&P 500, Nasdaq Composite, Nasdaq 100) and Japanese Indices (Topix, Nikkei225).First, from 2014, December 31st to 2015, November 11th. Using a longer period could lead to wrong conclusions given the...