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Crowdfunding In France: A New Revolution?


  • Aurélie SANNAJUST
  • Fabien ROUX
  • Anissa CHAIBI


In the last few years, small firms have had difficulties to finance their projects via the traditional bank system. A new type of financing has recently appeared in Europe and in particular in France: the crowdfunding. It is a method for funding a vari

Suggested Citation

  • Aurélie SANNAJUST & Fabien ROUX & Anissa CHAIBI, 2014. "Crowdfunding In France: A New Revolution?," Working Papers 2014-234, Department of Research, Ipag Business School.
  • Handle: RePEc:ipg:wpaper:2014-234

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    References listed on IDEAS

    1. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    2. Bergemann, Dirk & Hege, Ulrich, 1998. "Venture capital financing, moral hazard, and learning," Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 703-735, August.
    3. Schwienbacher, Armin, 2007. "A theoretical analysis of optimal financing strategies for different types of capital-constrained entrepreneurs," Journal of Business Venturing, Elsevier, vol. 22(6), pages 753-781, November.
    4. Ebben, Jay & Johnson, Alec, 2006. "Bootstrapping in small firms: An empirical analysis of change over time," Journal of Business Venturing, Elsevier, vol. 21(6), pages 851-865, November.
    5. Winborg, Joakim & Landstrom, Hans, 2001. "Financial bootstrapping in small businesses: Examining small business managers' resource acquisition behaviors," Journal of Business Venturing, Elsevier, vol. 16(3), pages 235-254, May.
    6. Thomas Hellmann, 1998. "The Allocation of Control Rights in Venture Capital Contracts," RAND Journal of Economics, The RAND Corporation, vol. 29(1), pages 57-76, Spring.
    7. Masako Ueda, 2004. "Banks versus Venture Capital: Project Evaluation, Screening, and Expropriation," Journal of Finance, American Finance Association, vol. 59(2), pages 601-621, April.
    8. Dirk Czarnitzki & Kornelius Kraft, 2004. "Firm Leadership and Innovative Performance: Evidence from Seven EU Countries," Small Business Economics, Springer, vol. 22(5), pages 325-332, June.
    9. Jonathan Morduch, 1999. "The Microfinance Promise," Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1569-1614, December.
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    1. repec:ipg:wpaper:2014-587 is not listed on IDEAS
    2. repec:ipg:wpaper:2014-536 is not listed on IDEAS
    3. repec:ipg:wpaper:2014-537 is not listed on IDEAS
    4. repec:ipg:wpaper:2014-591 is not listed on IDEAS

    More about this item


    financial innovation; crowdfunding; SMEs; France.;

    JEL classification:

    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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