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Success and Failure in Equity Crowdfunding

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  • Lars Hornuf
  • Matthias Schmitt

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  • Lars Hornuf & Matthias Schmitt, 2016. "Success and Failure in Equity Crowdfunding," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 14(02), pages 16-22, July.
    • Handle: RePEc:ces:ifodic:v:14:y:2016:i:02:p:16-22
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    References listed on IDEAS

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    1. Gordon Burtch & Anindya Ghose & Sunil Wattal, 2015. "The Hidden Cost of Accommodating Crowdfunder Privacy Preferences: A Randomized Field Experiment," Management Science, INFORMS, vol. 61(5), pages 949-962, May.
    2. Jörn Block & Lars Hornuf & Alexandra Moritz, 2016. "Which updates during an equity crowdfunding campaign increase crowd participation? An exploratory analysis," Research Papers in Economics 2016-06, University of Trier, Department of Economics.
    3. Vulkan, Nir & Åstebro, Thomas & Sierra, Manuel Fernandez, 2016. "Equity crowdfunding: A new phenomena," Journal of Business Venturing Insights, Elsevier, vol. 5(C), pages 37-49.
    4. Ajay Agrawal & Christian Catalini & Avi Goldfarb, 2015. "Crowdfunding: Geography, Social Networks, and the Timing of Investment Decisions," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 24(2), pages 253-274, June.
    5. Mingfeng Lin & Nagpurnanand R. Prabhala & Siva Viswanathan, 2013. "Judging Borrowers by the Company They Keep: Friendship Networks and Information Asymmetry in Online Peer-to-Peer Lending," Management Science, INFORMS, vol. 59(1), pages 17-35, August.
    6. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
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    Citations

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    Cited by:

    1. Christa Hainz & Lars Hornuf & Lars Klöhn & Björn Brauer & Felix Ehrenfried & Gerrit Engelmann, 2017. "Praxiserfahrungen mit den Befreiungsvorschriften des Kleinanlegerschutzgesetzes," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 78, October.
    2. Sven Siebeneicher & Ilker Yenice & Carolin Bock, 2022. "Financial-Return Crowdfunding for Energy and Sustainability in the German-Speaking Realm," Sustainability, MDPI, vol. 14(19), pages 1-23, September.
    3. repec:ces:ifodic:v:15:y:2017:i:3:p:50000000000050 is not listed on IDEAS
    4. Mónika Kuti & Zsolt Bedõ & Dorottya Geiszl, 2017. "Equity-based Crowdfunding," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 16(4), pages 187-200.
    5. Hornuf, Lars & Schilling, Tobias & Schwienbacher, Armin, 2022. "The relevance of investor rights in crowdinvesting," Journal of Corporate Finance, Elsevier, vol. 77(C).
    6. Lars Hornuf & Armin Schwienbacher, 2017. "Should securities regulation promote equity crowdfunding?," Small Business Economics, Springer, vol. 49(3), pages 579-593, October.
    7. Johannes Wallmeroth & Peter Wirtz & Alexander Peter Groh, 2017. "Institutional Seed Financing, Angel Financing, and Crowdfunding of Entrepreneurial Ventures: A Literature Review," Working Papers hal-01527999, HAL.
    8. Gregor Dorfleitner & Lars Hornuf & Martina Weber, 2017. "Dynamics of Investor Communication in Equity Crowdfunding," Research Papers in Economics 2017-04, University of Trier, Department of Economics.
    9. Christian Haddad & Lars Hornuf, 2019. "The emergence of the global fintech market: economic and technological determinants," Small Business Economics, Springer, vol. 53(1), pages 81-105, June.
    10. Hornuf, Lars & Schwienbacher, Armin, 2018. "Market mechanisms and funding dynamics in equity crowdfunding," Journal of Corporate Finance, Elsevier, vol. 50(C), pages 556-574.
    11. Christa Hainz & Lars Hornuf & Lars Klöhn & Björn Brauer & Felix Ehrenfried & Gerrit Engelmann, 2017. "Exemptions Featured in the 2015 German Small Investor Protection Act," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 15(03), pages 35-42, October.
    12. Gregor Dorfleitner & Lars Hornuf & Martina Weber, 2018. "Dynamics of investor communication in equity crowdfunding," Electronic Markets, Springer;IIM University of St. Gallen, vol. 28(4), pages 523-540, November.
    13. Felix Reichenbach & Martin Walther, 2021. "Signals in equity-based crowdfunding and risk of failure," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-30, December.
    14. Lars Hornuf & Matthias Schmitt & Eliza Stenzhorn, 2017. "Equity Crowdfunding in Germany and the UK: Follow-up Funding and Firm Failure," CESifo Working Paper Series 6642, CESifo.
    15. Derek Eldridge & Tahir M. Nisar & Mariateresa Torchia, 2021. "What impact does equity crowdfunding have on SME innovation and growth? An empirical study," Small Business Economics, Springer, vol. 56(1), pages 105-120, January.

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    More about this item

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • K35 - Law and Economics - - Other Substantive Areas of Law - - - Personal Bankruptcy Law
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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