Collective entrepreneurship makes strange bedfellows: Examining framing activity in construction of the equity crowdfunding market

Denis Iurchenko, Jeffrey S. Petty and Sanjay Jain

Journal of Small Business Management, 2024, vol. 62, issue 3, 1652-1683

Abstract: The digital revolution paved the way for changes in the field of entrepreneurial finance, with platform-based funding mechanisms being viewed as a mode for democratizing equity investing. Despite this belief, equity funding platforms were not available to the public for a while, owing to existing regulations that made them illegal. Based on the analysis of a unique longitudinal dataset, the results of our study suggest that the formation of new markets may be successful when multiple actors, including the government, collectively utilize strategic framing that promotes public interest and engages incumbents in a nonthreatening manner. These dynamics highlight the key role that collective entrepreneurship plays in the emergence of new market spaces.

Date: 2024
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DOI: 10.1080/00472778.2022.2161555

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