Rating of equity crowdfunding platforms

Sophie Pommet, Aurélie Sannajust and Qing Xu

Finance Research Letters, 2023, vol. 58, issue PD

Abstract: This paper examines the impact of a rating of equity crowdfunding platforms on funding campaign success. We hand-collect data from five renown Chinese equity crowdfunding platforms on 583 fundraising campaigns between 2016 to 2021. Our analyses reveal the valuable signaling effect of the platform ratings. A one-unit difference in the rating category affects the funding success between approximately 8 % to 13 %, depending on the respective regression specifications.

Keywords: Equity; Crowdfunding; China; Rating; Reputation; Signal (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:58:y:2023:i:pd:s1544612323010115

DOI: 10.1016/j.frl.2023.104639

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