Equity-based Crowdfunding

Mónika Kuti (), Zsolt Bedo () and Dorottya Geiszl ()
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Mónika Kuti: University of Pécs
Dorottya Geiszl: University of Pécs

Financial and Economic Review, 2017, vol. 16, issue 4, 187-200

Abstract: This paper presents the latest results of international research on equity-based crowdfunding, and thus – according to the authors’ current knowledge – fills a gap in the Hungarian literature. Equity-based crowdfunding offers a fundraising opportunity through online platforms for small and medium-sized enterprises seeking alternative forms of funding for growth opportunities and innovation in this digital age. Investors interested in risk-adjusted financial return have several methods available to handle capital market friction and agent costs in the context of “crowdfunding”. Information signals on entrepreneurial quality are essential for seasoned investors when making capital allocation decisions in a crowdfunding campaign. In addition to the national legislative framework, platforms have many different rules, techniques and cultural norms that attempt to handle capital market imperfections.

Keywords: equity crowdfunding; financial innovation; start-up financing (search for similar items in EconPapers)
JEL-codes: F36 G19 O16 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:mnb:finrev:v:16:y:2017:i:4:p:187-200

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