Controlling for the crowd ?: The case of equity-crowdfunding platforms

Contrôler pour la foule? Le cas des plateformes d'equity-crowdfunding

Ingrid Fasshauer ()
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Ingrid Fasshauer: DICEN-IDF - Dispositifs d'Information et de Communication à l'Ère du Numérique - Paris Île-de-France - UPN - Université Paris Nanterre - CNAM - Conservatoire National des Arts et Métiers [CNAM] - UPEM - Université Paris-Est Marne-la-Vallée

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Abstract: The rising phenomenon of crowdfunding is an alternative for SMEs to find funds by appealing to the crowd, defined as numerous non expert investors. The growth of crowdfunding relies on the guaranties given to investors that their money is used for the right purpose. This role is dedicated to platforms which make different choice between their own involvement and the investors' involvement in the control of the financed SME. Thanks to a case study on an equity crowdfunding platform, we highlight the levers of control (Simons, 1995) that the platform uses, based on values and on financial information. It allows us to question the nature of the role of the platform and the reality of the "definanciarisation" of the project evaluation (Bessière et Stéphany, 2014)

Keywords: financement participatif; crowdfunding; contrôle de gestion; contrôle interactif; leviers de contrôle (search for similar items in EconPapers)
Date: 2016
Note: View the original document on HAL open archive server: https://hal.science/hal-02276006
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Published in Revue Française de Gestion, 2016, Coopérations et réseaux, 42 (259), pp.51-68. ⟨10.3166/rfg.2016.00070⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02276006

DOI: 10.3166/rfg.2016.00070

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