This article is the first one that considers a model of the choice between the different types of crowdfunding, which … provides several implications, most of which have not yet been tested. Our model predicts that equity-based crowdfunding is … more profitable than reward-based crowdfunding when an entrepreneur is overconfident. This is because the entrepreneur …

This article is the first one that considers a model of the choice between the different types of crowdfunding, which … provides several implications, most of which have not yet been tested. Our model predicts that equity-based crowdfunding is … more profitable than reward-based crowdfunding when an entrepreneur is overconfident. This is because either the …

Crowdfunding has mostly been used to finance very unique projects. Recently, however, companies have begun using it to … finance more traditional products where they compete against other sellers of similar products. Major crowdfunding platforms … where two competing firms can use crowdfunding prior to direct sales. The model provides several implications that have not …

(small) investors to commit financial resources in an equity crowdfunding context. We examine the impact of venture quality …

role of business angels, activate the merger-andacquisition market and foster entrepreneurship. A creative economy also …

-and-acquisition market and foster entrepreneurship. A creative economy also depends on making SMEs, which account for 87% of employment, more …

This paper offers a model of crowdfunding that represents a growing area of interest among practitioners and theorists … implications that have not yet been tested. For example we find that high-quality projects prefer reward-based crowdfunding. The …