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Online crowdfunding websites are multi-sided platforms that offer project founders the possibility to publish their … project ideas, to address potential investors, and to ask for funding. The successful funding of crowdfunding campaigns is … already shed light on some success factors of crowdfunding campaigns, but the interrelations between the success factors have …
Persistent link: https://www.econbiz.de/10012864470
We examine the impacts of ethical declarations on market transactions through a controlled laboratory experiment, where …
Persistent link: https://www.econbiz.de/10014528424
We present comprehensive evidence in support of giving liquidity equal standing to size, value/growth, and momentum as investment styles, as defined by Sharpe (1992). First, we show that financial market liquidity, as identified by stock turnover, is an economically significant indicator of...
Persistent link: https://www.econbiz.de/10013093548
VaR_Delta-Normal fails in two counts: subadditivity and potentially producing losses larger than its portfolio value. This paper solves the second inconsistency developing formulas derived from a put option, named PVaR_Delta-Normal and Put_Expected_Shortfall, PSF_Delta-Normal; the latter also...
Persistent link: https://www.econbiz.de/10013014636
The existing replication policies at top finance journals are far weaker than the policies at top economics journals. This paper explores both the costs and benefits of having a stronger replication policy in the context of my failed 2010 initiative to develop a unified policy across all top...
Persistent link: https://www.econbiz.de/10012867841
Empirical evidence suggests that investors share price-relevant information via their social networks. I analyze why and under what circumstances skilled investors (ldquo;arbitrageursrdquo;) will rationally share private information via this word-of-mouth mechanism. My...
Persistent link: https://www.econbiz.de/10012714012
Yes. Chung, Lee, and Rösch (2020) show that liquidity for large orders improves for the treated firms with larger tick sizes after the implementation of the Tick Size Pilot Program. Accordingly, we hypothesize and find that the increased tick sizes of treated firms reduce execution costs of...
Persistent link: https://www.econbiz.de/10013294500
equity crowdfunding. We distinguish between different types of informative and persuasive posts on Facebook and Twitter …. Informative posts provide investors with information about the crowdfunding campaign; persuasive posts do not, but rather aim to …
Persistent link: https://www.econbiz.de/10013292298
Persistent link: https://www.econbiz.de/10011639695
Persistent link: https://www.econbiz.de/10011416605