Disciplinary and Cognitive Governance Mechanisms within Equity Crowdfunding: The French case

Les mécanismes de gouvernance disciplinaires et cognitifs en Equity Crowdfunding: Le cas de la France

Carine Girard () and Catherine Deffains-Crapsky ()
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Carine Girard: Audencia Business School
Catherine Deffains-Crapsky: LAREMA - Laboratoire Angevin de Recherche en Mathématiques - UA - Université d'Angers - CNRS - Centre National de la Recherche Scientifique

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Abstract: Crowdfunding appears more and more as an alternative form of financing. Even if it currently represents a small part of the financing of economy, its growth is massive. The originality of Equity-CrowdFunding (ECF) is to allow the crowd to participate in an entrepreneurial adventure and of becoming a shareholder. Our research issue concerns the mechanisms of governance activated by the platform of ECF to manage the relation between this crowd and the project leader, during the phases of pre and post-investment. Thanks to a qualitative study concerning six French ECF platforms, we highlight and explain several cognitive and disciplinary mechanisms.

Keywords: Corporate Governance; Equity Crowdfunding; Venture capital entrepreneurship; Gouvernance d’entreprise; Capital risque (search for similar items in EconPapers)
Date: 2016
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Published in Finance Contrôle Stratégie, 2016, 19 (3), ⟨10.4000/fcs.1829⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01399044

DOI: 10.4000/fcs.1829

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