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Protecting investors in equity crowdfunding : an empirical analysis of the small investor protection act
Göthner, Maximilian; Hornuf, Lars; Regner, Tobias - 2020
During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In Germany, the Small Investor Protection Act became binding in July 2015, with the legislative goal to protect investors engaging in this new asset class. Since then, investors...
Persistent link: https://www.econbiz.de/10012226836
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Protecting Investors in Equity Crowdfunding : An Empirical Analysis of the Small Investor Protection Act
Goethner, Maximilian - 2020
During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In Germany, the Small Investor Protection Act became binding in July 2015, with the legislative goal to protect investors engaging in this new asset class. Since then, investors...
Persistent link: https://www.econbiz.de/10012831649
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Protecting investors in equity crowdfunding : an empirical analysis of the small investor protection act
Göthner, Maximilian; Hornuf, Lars; Regner, Tobias - 2020 - This version: Mai 27, 2020
During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In Germany, the Small Investor Protection Act became binding in July 2015, with the legislative goal to protect investors engaging in this new asset class. Since then, investors...
Persistent link: https://www.econbiz.de/10012224817
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Family Involvement, Political Connection and IPO Underpricing : Evidence from the Companies Listed on the SME Board of China
Cao, Zhen - 2018
Based on hand-collected information on private companies listed in the Chinese SME stock market, this paper studies how …
Persistent link: https://www.econbiz.de/10012937030
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Small Business Financial Distress and the 'Phoenix Syndrome' — A Re-Evaluation
Rotem, Yaad - 2013
In a typical "phoenix syndrome" scenario, a small business entrepreneur who controls the financially distressed Company A registers Company B, to which the assets of Company A are transferred in what appears to be fraudulent conveyance. Company B serves as a vehicle through which the business is...
Persistent link: https://www.econbiz.de/10013071900
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Empowering EU Capital Markets- Making listing cool again Final report of the Technical Expert Stakeholder Group (TESG) on SMEs
Fernandez, Eduardo; Friedrich, Hans-Jürgen; … - 2021
Regulation 2019/2115 as regards the promotion of the use of SME growth markets, the European Commission set up a Technical Expert …. The Group was tasked with monitoring and assessing the functioning of SME Growth Markets, as well as providing expertise … and possible input on other relevant areas of SME access to public markets. Their work was finalized in May 2021 and …
Persistent link: https://www.econbiz.de/10013224009
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Exemptions featured in the 2015 German small investor protection act
Hainz, Christa; Hornuf, Lars; Klöhn, Lars; Brauer, Björn - In: ifo DICE report 15 (2017) 3, pp. 35-42
Persistent link: https://www.econbiz.de/10011857435
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Minority Shareholder Protection in SMEs : A Question of Information Ex Post and Bargaining Power Ex Ante?
Andersson, Jan Bertil - 2010
SMEs or, as they are called here, ‘close corporations’, differ in many respects from publicly traded companies. Shares in publicly traded companies have a regulated market which shares in SMEs do not have. Since there is no regulated market for the shares there is usually a lock-in effect in...
Persistent link: https://www.econbiz.de/10014188650
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Essays on institutions and finance
Pivovarsky, Alexander - 2001
Persistent link: https://www.econbiz.de/10001717972
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Deutsche Crowdinvesting-Portale: Neue Geschäftsmodelle für KMU
Braun, Susanne - 2015
Crowdinvesting ist geprägt von einer Vielzahl von Partikularinteressen, wobei den Portalen eine Schnittstellenfunktion zukommt. Die Nutzung der durchaus vielversprechenden Potenziale dieser Finanzierungsform hängt maßgeblich davon ab, inwieweit es gelingt, den Informationsasymmetrien und...
Persistent link: https://www.econbiz.de/10011416319