Token offerings or initial coin offerings (ICOs) are smart contracts based on blockchain technology designed to raise external finance without an intermediary. The new technology might herald a revolution in entrepreneurial and corporate finance, with soaring market growth rates over the last...

The study aimed to measure the effect of Crowdfunding financing on entrepreneurship aspirations in Arabic region. Population consists of members in (15) Crowdfunding Arabic platforms which are working with all models and online at (2018). Descriptive approach and a questionnaire used as a tool...

Various forms of social learning and network effects are at work on crowdfunding platforms, giving rise to informational and payoff externalities. We use novel entrepreneur-backer data to study how these externalities shape funding dynamics, within and across projects. We find that backers...

We show that FinTech lending affects credit markets and real economic activity using a unique data set of a Peer-to-Business platform for which we have the universe of loan applications. We find that FinTech serves high quality and creditworthy small businesses who already have access to bank...

With each passing year the peer-to-peer lending becomes more popular. The increased numbers of users and provided loans through the P2P platforms led us to write this paper to clarify what peer-to-peer lending is and what are the benefits and the flaws of using such platforms. Are they just...

In the leveraged loan sector, firms borrowing from non-banks have worse profitability and lower investment following loan origination, than observably similar firms borrowing from banks. Further, we find that non-banks are more likely to impose Capex restrictions. The effects are absent in the...

We analyze the role of trademarks in entrepreneurial finance, hypothesizing that trademarks play two important roles: a “protective” role, leading to better product market performance; and an “informational” role, signaling higher firm quality to investors. We develop testable hypotheses...

We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identification, we exploit a supervisory credit register of syndicated loans, loan-time fixed-effects, and shocks to capital...

Using a sample of syndicated loans to private equity (PE)-backed IPO companies, we examine how a third-party bank relationship influences the syndicate structure of a loan. We find that a stronger relationship between the lead bank and the borrower's PE firm enables the lead bank to retain a...

Various forms of social learning and network effects are at work on crowdfunding platforms, giving rise to informational and payoff externalities. We use novel entrepreneur-backer data to study how these externalities shape funding dynamics, within and across projects. We find that backers...