commitment has not yet been discussed in a crowdfunding context. Applying a signaling approach, our empirical findings show that …

This paper first presents the development of the crowdinvesting market in Europe since its start in 2007. Then, using … hand-collected data on the complete set of crowdinvesting campaigns run in Germany, the paper shows that successful … need to choose among a larger range of different crowdinvesting portals. …

It is often assumed that entrepreneurs retain more control of their venture when they opt for equity crowdfunding as … by analysing the cash flow and control rights crowd investors receive in equity crowdfunding in Germany, where more … capital investment contracts are also used in equity crowdfunding contracts. We find that crowd investors are asked to pay …

This research provides the first deep and empirical look into Brazil's increasing equity crowdfunding, or crowdinvest … crowdfunding industry in Brazil, (2) reveals the role of crowdinvest in Brazil, related to bank credit to SMEs, and (3) provides …