 New Forms of Funding Investment Projects and Companies: Crowdfunding and ICO (Nowe formy finansowania projektow inwestycyjnych i przedsiebiorstw: crowdfunding i ICO)Jakub Górka () and
Aleksandra Pietruk ()
Problemy Zarzadzania, 2018, vol. 16, issue 76, 116-137 Abstract: The article aims to study crowdfunding and Initial Coin Offering (ICO) – the new sources of raising capital for investment projects and business operations. Crowdfunding and ICO are compared to the Initial Public Offering (IPO), i.e. a traditional form of funding for corporations. The paper discusses new trends in finance. It explores the principles, features, legal regulations, advantages and disadvantages of innovative methods of funding. The analysis reveals that in the digital era of network economy there is a need to quickly raise considerable amounts of capital from many investors in funding rounds not burdened with complicated regulations. ICO and crowdfunding give such an opportunity, but at the expense of higher legal, financial and operational risks. Therefore, for mature companies, a less risky option is to get funded in a more traditional way, for example through an initial public offering which, although costlier and lengthy, has higher credibility and is under prudential supervision. Keywords: crowdfunding; ICO (Initial Coin Offering); new forms of funding; IPO (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:sgm:pzwzuw:v:16:i:76:y:2018:p:116-137 Access Statistics for this article More articles in Problemy Zarzadzania from University of Warsaw, Faculty of Management Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.