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Market Mechanisms and Funding Dynamics in Equity Crowdfunding

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Hornuf, Lars ; Schwienbacher, Armin
License: Creative Commons Attribution 4.0
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Date of publication of this fulltext: 24 Jan 2018 10:43


Equity crowdfunding is a new form of entrepreneurial finance, in which investors do not receive perks or engage in pre-purchase of the product, but rather participate in the future cash flows of a firm. In this paper, we analyze what determines individual investment decisions in this new financial market. One important factor that may influence the behavior of investors is the way the portal ...


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