What do crowdfunding platforms do? A comparison between investment-based platforms in Europe

Alice Rossi () and Silvio Vismara ()
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Alice Rossi: University of Bergamo
Silvio Vismara: University of Bergamo

Eurasian Business Review, 2018, vol. 8, issue 1, No 7, 93-118

Abstract: Abstract Despite the growing popularity of investment-based crowdfunding, we know little about what platforms do before the campaign. This is among the first studies to provide cross-platform evidence on investment-based crowdfunding. First, we describe the regulation and development over time of investment-based crowdfunding markets in France, Italy, Germany, and the UK. Second, using a sample of 127 platforms in these countries, we document which services are offered to proponents before, during, and after the campaigns. Finally, our econometric analysis shows that a higher number of post-campaign services offered by the platforms increase the annual number of successful campaigns. Services offered before and during campaigns do not attract more campaigns to the platforms.

Keywords: Crowdfunding; Equity crowdfunding; Regulation; Platforms; Entrepreneurial finance (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (59)

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DOI: 10.1007/s40821-017-0092-6

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