Inclusive digital finance: the industry of equity crowdfunding

Vincenzo Butticè () and Silvio Vismara ()
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Vincenzo Butticè: Politecnico di Milano
Silvio Vismara: University of Bergamo

The Journal of Technology Transfer, 2022, vol. 47, issue 4, No 11, 1224-1241

Abstract: Abstract Nowadays equity crowdfunding plays an important role in the entrepreneurial finance markets. To better understand the functioning of the industry, it is important to consider the entire equity crowdfunding process and all the actors involved. Equity crowdfunding platforms match indeed the demand of capital from entrepreneurial ventures with the supply of capital by investors. This manuscript is a first step in this direction, by (1) comparing equity crowdfunding with traditional sources of entrepreneurial finance; (2) discussing the potential and the perils of equity crowdfunding for inclusivity and democratization; (3) highlighting the role of visual information in digital finance; and (4) providing first insights on the industrial dynamics in equity crowdfunding. The paper gives researchers and practitioners orientation about recent developments in equity crowdfunding literature and provides relevant research directions.

Keywords: Crowdfunding; Platforms; Financial inclusivity; Digital markets (search for similar items in EconPapers)
JEL-codes: G30 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (25)

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DOI: 10.1007/s10961-021-09875-0

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