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Le crowdfunding : modèle alternatif de financement ou généralisation du modèle de marché pour les start-up et les PME ?

Author

Listed:
  • Sylvie Cieply
  • Anne-Laure Le Nadant

Abstract

Crowdfunding has been initially presented as an alternative model to fund risky projects from the crowd. The authors study the recent evolution of regulation and the development of multiple partnerships between banks and platforms that lead to a re-financialization of the initial model. The authors show that the development of crowdfunding does not lead to a disintermediation movement but, on the contrary, it generalizes market intermediation by offering a financial market tool adapted to private equity. Classification JEL: G21, G24, M13.

Suggested Citation

  • Sylvie Cieply & Anne-Laure Le Nadant, 2016. "Le crowdfunding : modèle alternatif de financement ou généralisation du modèle de marché pour les start-up et les PME ?," Revue d'économie financière, Association d'économie financière, vol. 0(2), pages 255-272.
    • Handle: RePEc:cai:refaef:ecofi_122_0255
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    Cited by:

    1. Gurvan Branellec & Ji-Yong Lee, 2019. "Le choix du modèle de régulation des Fintech : entre sandbox et soundbox," Post-Print hal-02612617, HAL.
    2. Pascal Glémain, 2018. "Finances et financement des activités d'utilité sociale locales : point de vue à partir des finances citoyennes «situées»," Post-Print hal-02150257, HAL.
    3. Nathalie Duran & Christel Dubrulle, 2017. "Les échecs du crowdlending, une étude exploratoire," Post-Print hal-01655014, HAL.

    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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