The aim of this article is to present Investment Crowdfunding (ICF) in a perspective wider than merely as a new form of … sharing economy, should also be taken into account. The issues of excessive and restrictive regulation of the financial market … experience. The study hypothesises that Investment Crowdfunding is a viable alternative for financing micro and small economic …

We develop a model of investment with financial constraints and use it to investigate the relation between investment … between q and investment, relative to the frictionless benchmark. We present a calibrated version of the model, which, due to … this effect, generates realistic correlations between investment, q, and cash flow …