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Analyse Exploratoire De La Représentation Du Marche De L'Equity Crowdfunding Par Les Investisseurs Particuliers Exploratory Analysis Of The Perception Of Individual Investors Of The Equity Crowdfunding Market

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  • Joseph Denis Njayou Oyong

    (VALLOREM - Val de Loire Recherche en Management - UO - Université d'Orléans - UT - Université de Tours)

Abstract

Objectif: cet article de recherche vise à mettre en évidence les représentations qu'ont les investisseurs particuliers du marché de l'equity crowdfunding. Methodologie: Par une démarche exploratoire, nous avons mené 17 entretiens semi-directifs auprès d'investisseurs ayant participé à des campagnes de financement en ECF. Les données sont exploitées sur logiciel NVIVO 11 en utilisant des grilles d'analyse thématiques. Résultats: Nous montrons que les investisseurs particuliers se représentent le marché de l'ECF comme étant positif et utile au regard des projets qui s'y financent. Plusieurs raisons soutiennent les risques financiers pris par les investisseurs particuliers notamment l'accoutumance aux risques financiers, la prise en considération des difficultés des entrepreneurs, et le partage des risques avec les entrepreneurs et les plateformes. Enfin, il existe une relation d'influence et de confiance entre les plateformes d'ECF et les investisseurs particuliers qui poussent ces derniers à un comportement de suivisme. Practical implications: Nous notons que les décisions d'investissement des particuliers sont soutenues par facteurs subjectifs, des affinités personnelles et des erreurs cognitives qui sont de nature à biaiser leurs décisions d'investissement. Originalité: Notre recherche apporte une représentation post investissement du marché de l'ECF, en soulignant le ressenti et l'intérêt que portent les investisseurs particuliers pour ce mode de financement.

Suggested Citation

  • Joseph Denis Njayou Oyong, 2022. "Analyse Exploratoire De La Représentation Du Marche De L'Equity Crowdfunding Par Les Investisseurs Particuliers Exploratory Analysis Of The Perception Of Individual Investors Of The Equity Crowdfundin," Post-Print hal-03777041, HAL.
    • Handle: RePEc:hal:journl:hal-03777041
    Note: View the original document on HAL open archive server: https://hal.science/hal-03777041
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    References listed on IDEAS

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    Keywords

    Equity crowdfunding (ECF); Crowdfunding (CF); Crowdfunders; retail investors; Financement participatif par capital;
    All these keywords.

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