-collected data from 38 different equity crowdfunding (ECF) portals and 656 firms that ran at least one successful ECF campaign in …

equity crowdfunding direct their investments to local firms. In line with agency theory, the results suggest that investors …-ups that run into insolvency or are dissolved, which indicates that local investments in equity crowdfunding constitute a …

Crowdfunding platforms have exhibited explosive growth over the past decade. In this paper, we map out what we know … about crowdfunding, and chart directions for future work. We argue the crowdfunding literature simultaneously experiences … crowdfunding research across scholarly disciplines: keen insights sit in disciplinary silos. Scholars may be ignorant of work …

statement disclosure increases capital raised through equity crowdfunding. On average, I find a positive association between …. Additionally, the importance of financial reporting in equity crowdfunding varies predictably in the cross-section. Specifically … inform the ongoing debate over regulation and disclosure in the equity crowdfunding market …

This article is the first one that analyzes the choice between crowdfunding and traditional financing as a security … design problem. The value of this research comes from several points: 1) the origin of crowdfunding and its features has not … been completely explained; 2) crowdfunding regulation is still in the process of development; 3) existing literature on …

through reward-based online crowdfunding platforms. By drawing on regulatory focus theory, we theorize that online feedback … dataset of 620 projects from renowned reward-based Chinese crowdfunding platform “Demohour” (a major pioneer Chinese … crowdfunding platform), the findings show a significant effect of online feedback on the extent of success or failure of reward …

positive consequences of the new crowdfunding laws for the capital markets and for the crowd in general but has only limited … analysis on the prospect of adverse wealth effects of crowdfunding for the crowd investors. A limited number of existing … crowdfunding for the crowd in a setting that focuses on information asymmetry between non-accredited crowd investors and accredited …

The present report is a case study on crowdfunding as a finance instrument for SMEs and entrepreneurs. The report aims … improve or hamper SME access to crowdfunding opportunities; to illustrate policy experiences and programme outcomes; and to …