Crowdfunding is commonly defined as raising small amounts of capital from a large number of people over the internet … directing the Securities and Exchange Commission (SEC) to facilitate securities-based crowdfunding through websites like …. But this “retail crowdfunding” exemption, open to all investors, was not the only means of crowdfunding in the bill. A …

We empirically study whether and how tax incentives impact fundraising and success of early-stage businesses and … investor behavior in equity crowdfunding. With tax incentives, investors may gravitate toward incentive-eligible opportunities …-level dataset from a leading online equity crowdfunding platform in the UK, we find that while the performance of SEIS …