‘Crowdfunding’ — raising capital through large numbers of small contributions — is a burgeoning phenomenon, spurred by the internet’s capacity to reduce communication costs. Its still-evolving status is reflected in diversity of contracting...Read more
For the last decade economists have been preoccupied with the decline in bank financing to small businesses and entrepreneurs. This effort has produced a better understanding of the obstacles to external financing. We examine the market and ...Read more
We study reward crowdfunding, the most innovative segment of the crowdfunding market, where, instead of a debt or equity contract, fund providers are promised some good or service in the future in exchange for their contribution to the funding...Read more
Crowdfunding by start-up firms has grown astonishingly rapidly in the past few years. This paper shows that there are big regional differences in...Read more
The increasing demand for Fintech – broadly defined as the use of new technology and innovation to compete in the marketplace of financial...Read more
Reward crowdfunding is fundamentally different from both debt and equity crowdfunding because the provider of funds does not buy a financial...Read more