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Should Securities Regulation Promote Equity Crowdfunding

URN to cite this document:
urn:nbn:de:bvb:355-epub-365021
DOI to cite this document:
10.5283/epub.36502
Hornuf, Lars ; Schwienbacher, Armin
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License: Creative Commons Attribution 4.0
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Date of publication of this fulltext: 24 Jan 2018 11:16



Abstract

In this paper, we show that too strong investor protection may harm small firms and entrepreneurial initiatives, which contrasts with the traditional “law and finance” view that stronger investor protection is better. This situation is particularly relevant in equity crowdfunding, which refers to a recent financial innovation originating on the Internet that targets small and innovative firms. In ...

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