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Signals in equity-based crowdfunding and risk of failure
Reichenbach, Felix; Walther, Martin J. - In: Financial innovation : FIN 7 (2021), pp. 1-30
use a hand-collected data set of 88 campaigns with over 64,000 investments and 742 updates from a well-established and … a university degree and a higher number of business-related updates are associated with a lower risk of failure, which … is in line with recent research on offering success. The number of updates on external certification, promotions, and the …
Persistent link: https://www.econbiz.de/10012594940
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Crowdfunding in a competitive environment
Miglo, Anton - In: Journal of risk and financial management : JRFM 13 (2020) 3/39, pp. 1-38
Crowdfunding has mostly been used to finance very unique projects. Recently, however, companies have begun using it to finance more traditional products where they compete against other sellers of similar products. Major crowdfunding platforms, Kickstarter and Indiegogo, as well as Amazon have...
Persistent link: https://www.econbiz.de/10012174171
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Financial signalling by innovative nascent entrepreneurs
Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - 2009
financing. Interestingly, entrepreneurs in planning versus early start-up stage portray different signaling effects, indicating …
Persistent link: https://www.econbiz.de/10003809914
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Financial signaling by innovative nascent entrepreneurs
Audretsch, David B.; Bönte, Werner; Mahagaonkar, Prashanth - 2009
financing. Interestingly, entrepreneurs in planning versus early start-up stage portray different signaling effects, indicating …
Persistent link: https://www.econbiz.de/10003836942
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Entrepreneurial school dropouts : a model on signalling, education and entrepreneurship
Skogstrøm, Jens Fredrik Baumgarten - 2012
I present a theory on the relationship between educational choice and entrepreneurship in a labour market with asymmetric information. The model shows that, in a labour market where education is used as a signalling device, an imperfect relationship between productivity in education and in the...
Persistent link: https://www.econbiz.de/10009515822
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Entrepreneurship in Equilibrium : A Signaling Approach
Ekinci, Emre - 2020
Firms launch formal programs to identify promising employee ideas and to provide support for their commercialization. This paper examines an alternative role of the firm's internal screening process in employee turnover. I argue that because the firm has better information vis-à-vis the market...
Persistent link: https://www.econbiz.de/10012855090
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Signaling in Equity Crowdfunding
Ahlers, Gerrit - 2015
This paper presents a first-ever empirical examination of the effectiveness of signals that entrepreneurs use to induce (small) investors to commit financial resources in an equity crowdfunding context. We examine the impact of venture quality (human capital, social (alliance) capital, and...
Persistent link: https://www.econbiz.de/10013028300
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Zero-debt policy under asymmetric information, flexibility and free cash flow considerations
Miglo, Anton - In: Journal of risk and financial management : JRFM 13 (2020) 12/296, pp. 1-25
We build a model of debt for firms with investment projects, for which flexibility and free cash flow problems are important issues. We focus on the factors that lead the firm to select the zero-debt policy. Our model provides an explanation of the so-called "zero-leverage puzzle". It also helps...
Persistent link: https://www.econbiz.de/10012392204
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Do Knowledge Signals Predict Startups’ Exit and Failure?
Harel, Shai - 2016
experience, signal investors and attract investments. We further examine, for both financed and non-financed startups, whether … that includes successful and financed startups, as well as failing startups and startups not backed by investors, we … analyze 9,193 technological startups established by 13,778 founders active in Israel from 1990-2014. We find that founders …
Persistent link: https://www.econbiz.de/10012983803
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Emotions in New Venture Teams : Affects as Signals, Emotional Diversity, and Valuation Effects in Initial Coin Offerings (ICOs)
Momtaz, Paul P. - 2023
New Venture Teams' (NVTs') collective emotions impact startup valuations through their intensity and diversity. I identify NVTs' affective traits with artificial emotional intelligence by tracking 2,520 individuals across 165 NVTs during their Initial Coin Offerings (ICOs). The level of NVTs'...
Persistent link: https://www.econbiz.de/10014359440