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Rating of equity crowdfunding platforms

Author

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  • Pommet, Sophie
  • Sannajust, Aurélie
  • Xu, Qing

Abstract

This paper examines the impact of a rating of equity crowdfunding platforms on funding campaign success. We hand-collect data from five renown Chinese equity crowdfunding platforms on 583 fundraising campaigns between 2016 to 2021. Our analyses reveal the valuable signaling effect of the platform ratings. A one-unit difference in the rating category affects the funding success between approximately 8 % to 13 %, depending on the respective regression specifications.

Suggested Citation

  • Pommet, Sophie & Sannajust, Aurélie & Xu, Qing, 2023. "Rating of equity crowdfunding platforms," Finance Research Letters, Elsevier, vol. 58(PD).
    • Handle: RePEc:eee:finlet:v:58:y:2023:i:pd:s1544612323010115
    DOI: 10.1016/j.frl.2023.104639
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    References listed on IDEAS

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