€™ past failure for investors' decisions. Our motivating insight is that failure can be due to bad luck, lack of skill or both … of failure into luck and skill. Our results indicate that investors discount entrepreneurs who have experienced failure … entrepreneurial failure is prevalent, we find that investors are sensitive to its core drivers: luck and skill. …

failure for investors' decisions. Our motivating insight is that failure can be due to bad luck, lack of skill or both … of failure into luck and skill. Our results indicate that investors discount entrepreneurs who have experienced failure … entrepreneurial failure is prevalent, we find that investors are sensitive to its core drivers: luck and skill. …

failure for investors' decisions. Our motivating insight is that failure can be due to bad luck, lack of skill or both … of failure into luck and skill. Our results indicate that investors discount entrepreneurs who have experienced failure … entrepreneurial failure is prevalent, we find that investors are sensitive to its core drivers: luck and skill. …

failure for investors' decisions. Our motivating insight is that failure can be due to bad luck, lack of skill or both … of failure into luck and skill. Our results indicate that investors discount entrepreneurs who have experienced failure … entrepreneurial failure is prevalent, we find that investors are sensitive to its core drivers: luck and skill …

failure for investors' decisions. Our motivating insight is that failure can be due to bad luck, lack of skill or both … of failure into luck and skill. Our results indicate that investors discount entrepreneurs who have experienced failure … entrepreneurial failure is prevalent, we find that investors are sensitive to its core drivers: luck and skill …

Young, entrepreneurial firms are particularly dependent on external investors to sustain their development. Are non …-binding equity investment commitments informative? Our large sample evidence in the context of equity crowdfunding shows that only 18 …% of non-binding commitments made by investors in entrepreneurial firms are actually invested. The evidence is consistent …

investors decide whether or not to invest in one of three opportunities each period while the entrepreneur sets the parameters …This paper introduces crowdfunding as a concept and model for the evolution of investment banking. Crowdfunding, an … opportunities to potential investors. The investment opportunities are donations, passive investments, and active investments. From …

of crowdfunding campaigns by external investors …Does intellectual property positively affect the success of the equity crowdfunding campaigns? By using a unique … dataset of 191 equity crowdfunding campaigns, gathered from the Italian platforms over the period 2014-2018, we answer this …

This paper examines for the first time dual-class equity crowdfunding as a digital ownership model. Unique to this …. Class B shares, depending on individual investors. Using a sample of 491 offerings on the UK platform Crowdcube from 2011 to … offering, the likelihood of attracting professional investors, as well as the long-run prospects. Different from small …

public offerings, venture capital, and pre-sale crowdfunding. In a sample of more than 1,500 ICOs that collectively raise $12 … avoiding enterprise failure). Success is associated with disclosure, credible commitment to the project, and quality signals …