Access Denied: How Equity Crowdfunding Platforms Use Quality Signals to Select New Ventures
| Autor: | Diemo Urbig, Simon Kleinert, Julian Bafera, Christine Volkmann |
|---|---|
| Přispěvatelé: | RS: GSBE other - not theme-related research, Organisation,Strategy & Entrepreneurship |
| Jazyk: | angličtina |
| Rok vydání: | 2022 |
| Předmět: |
COUNTRIES
Economics and Econometrics media_common.quotation_subject FLEXIBILITY New Ventures equity crowdfunding platforms 0502 economics and business DECISIONS Quality (business) Equity crowdfunding WINNERS 050207 economics Business and International Management Marketing media_common CAPITALISTS crowdfunding screening 05 social sciences SUCCESS PERFORMANCE FOUNDERS Entrepreneurial finance MARKET entrepreneurial finance ENTREPRENEURSHIP RESEARCH Business signaling 050203 business & management |
| Zdroj: | Entrepreneurship Theory and Practice, 46(6):10422587211011945, 1626-1657. Wiley-Blackwell |
| ISSN: | 1042-2587 |
| Popis: | Among the new ventures actively seeking funds through equity crowdfunding, only a lucky few seemingly survive the rigorous selection process imposed by equity crowdfunding platforms (ECFPs). With a conjoint experiment involving decision-makers from 50 platforms in 22 countries, this study provides first quantitative evidence regarding how ECFPs actually use quality signals to select new ventures to start fundraising campaigns. The ECFPs interpret signals differently, depending on whether they impose a co-investment requirement or generate revenues from new ventures’ long-term performance. The effectiveness of the signals also is contingent on the applicant’s industry background and the signals’ accessibility in the country where the ECFP operates. |
| Databáze: | OpenAIRE |
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