In recent years, lending-based crowdfunding (LBCF) has been analysed from different perspectives but there has been little discussion about the strategies and business models adopted by LBCF companies. The aim of this study is to define a more correct classification of LBCF companies, based on...

Since small and medium-sized enterprises and innovative start-ups always face greater difficulties in obtaining capital from traditional sources of finance, the development of alternative funding tools such as equity crowdfunding has helped them to bridge their financing gap. The purpose of this...

Equity crowdfunding is an emerging financing tool that can help social start-ups and firms to collect people and resources around a project. This paper focuses on equity crowdfunding. We look at this as a complementary financing channel useful for promoting innovation and social change by...

The Italian Minibond market was born in 2013 and was expected to ease debt financing of SMEs as a complementary channel to bank credit. In this chapter, we investigate what were the determinants of the issuing prices of Minibonds in the ExtraMotPro market from 2013 to 2016, with a special focus...