Journals / Central Bank Review / 2021 / Cilt: 21 - Sayı: 1

The new investment landscape: Equity crowdfunding

Pages
1–16
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Despite debates about risks, equity crowdfunding seems to be a promising venue for financing entrepreneurs, democratizing demand and supply side of investments and contributing to economic growth.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Equity crowdfunding has emerged as a new landscape for financing ideas and innovations.
📊
Key Findings & Data:While a number of countries has come a long way and developed equity crowdfunding platforms, a number of countries is taking it more slowly.
💡
Conclusion & Impact:Despite debates about risks, equity crowdfunding seems to be a promising venue for financing entrepreneurs, democratizing demand and supply side of investments and contributing to economic growth.
🔬Design:Review & Systematic Survey
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Özet

Equity crowdfunding has emerged as a new landscape for financing ideas and innovations. While a number of countries has come a long way and developed equity crowdfunding platforms, a number of countries is taking it more slowly. This paper reviews how equity crowdfunding platforms function, the regulatory approaches around the world and academic contributions on signaling, success factors and social financing at equity crowdfunding platforms. The review suggests that further research may dive deeper into the socio-economic significance of equity crowdfunding and whether equity crowdfunding complements or substitutes traditional equity financing. Research contributions on the dynamics of equity crowdfunding in different geographical regions, motivations of funders, matching of funders and entrepreneurs, effects of regulations and evolution of potential campaign success factors are very critical for the development of the field. Despite debates about risks, equity crowdfunding seems to be a promising venue for financing entrepreneurs, democratizing demand and supply side of investments and contributing to economic growth.

🔖

Cite This Article

YAŞAR, B. (2021). The new investment landscape: Equity crowdfunding. Central Bank Review, Cilt: 21 - Sayı: 1, 1–16. https://ajindex.com/articles/415026

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (4)

  1. Agrawal, Anirudh, Hockerts, K., 2019. Impact investing: review and research agenda. J. Small Bus. Enterpren. 1e29. https://doi.org/10.1080/ 08276331.2018.1551457. Agrawal, Ajay, Catalini, C., Goldfarb, A., 2011. The geography of crowdfunding. In: SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1692661.
  2. Agrawal, Ajay, Catalini, C., Goldfarb, A., 2014. Some simple economics of crowd- funding. Innovat. Pol. Econ. 14 (1), 63e97. http://www.journals.uchicago.edu/ doi/pdfplus/10.1086/674021. Agrawal, Ajay, Catalini, C., Goldfarb, A., 2016. Are syndicates the killer app of equity crowdfunding? Calif. Manag. Rev. 58 (2), 111e124. https://doi.org/10.1525/ cmr.2016.58.2.111. Ahlers, G.K.C., Cumming, D., Günther, C., Schweizer, D., 2015. Signaling in equity crowdfunding. Enterpren. Theor. Pract. 39 (4), 955e980. https://doi.org/10.1111/ etap.12157. Akerlof, G.A., 1970. The market for “lemons”: quality uncertainty and the market mechanism. The Quarterly Journal OfEconomics 84 (3), 488e500. https:// doi.org/10.1088/1126-6708/1999/09/008. Bapna, S., 2019. Complementarity of signals in early-stage equity investment de- cisions: evidence from a randomized field experiment. Manag. Sci. 65 (2), 933e952. Battaglia, F., Busato, F., & Manganiello, M. (n.d.). Equity crowdfunding: brave market or safe haven for the crowd during the COVID-19 crisis ?. Baum, J.A.C., Silverman, B.S., 2004. Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups. J. Bus. Ventur. 19 (3), 411e436. https:// doi.org/10.1016/S0883-9026(03)00038-7.
  3. Belleflamme, P., Lambert, T., Schwienbacher, A., 2014. Crowdfunding: tapping the right crowd. J. Bus. Ventur. 29 (5), 585e609. https://doi.org/10.1016/ J.JBUSVENT.2013.07.003. Block, J., Hornuf, L., Moritz, A., 2018. Which updates during an equity crowdfunding campaign increase crowd participation? Small Bus. Econ. 50 (1), 3e27. https:// doi.org/10.1007/s11187-017-9876-4.
  4. Bradford, C.S., 2012. Crowdfunding and the federal securities laws. In: Columbia Business Law Review. http://digitalcommons.unl.edu/lawfacpubhttp:// digitalcommons.unl.edu/lawfacpub/119. Bruton, G., Khavul, S., Siegel, D., Wright, M., 2015. New financial alternatives in seeding entrepreneurship: microfinance, crowdfunding, and peer-to-peer in- novations. Enterpren. Theor. Pract. 39 (1), 9e26. https://doi.org/10.1111/ etap.12143. Cabral, L., 2012. Reputation on the internet. In: The O