Dorfleitner, Gregor; Hornuf, Lars; Weber, Martina - 2017
In crowdfunding, start-ups can voluntarily communicate with their investors by posting updates. We investigate whether …-collected data of 751 updates and 39,036 investment decisions from the two major German equity crowdfunding portals Seedmatch and … Companisto. We find evidence for strategic communication behavior of startups during an equity crowdfunding campaign. During the …