Succès des campagnes en equity crowdfunding: une analyse à partir des outils internes et externes de communication

Karima Bouaiss, Éric-Alain Zoukoua and Stéphane Onnée

Revue de l'Entrepreneuriat, 2021, vol. 20, issue 3, 17-44

Abstract: Based on signaling theory and the strength of weak ties theory, this article studies the effects that internal communication tools available on equity crowdfunding platforms (ECF), as well company presence on social media, have on the success of campaigns. Using data from 317 campaigns carried out between 2010 and 2018 by 277 companies funded on Anaxago, SmartAngels, Sowefund, and WiSEED, our results show that tools that involve the platform?s community (via e-voting, comments, and testimonials) help the success of campaigns, while other elements hinder it (expert opinion). A company?s presence on social media platforms such as Twitter and LinkedIn contributes, through the strength of weak ties, to the success of ECF campaigns. JEL : L26

Keywords: internal social capital; social networks; equity crowdfunding; platform; communication tool (search for similar items in EconPapers)
JEL-codes: L26 (search for similar items in EconPapers)
Date: 2021
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