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Financing entrepreneurship spurs innovation and economic growth. Digital financial platforms that crowdfund equity for … entrepreneurs have emerged globally, yet they remain poorly understood. We model equity crowdfunding in terms of the relationship …
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This paper examines how government funding programs geared towards early-stage companies interact with private capital markets. Using hand-collected data on 755 government programs worldwide, we find that governments' allocations to such funding programs have been comparable to global venture...
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