Environmental Sustainability Orientation, Reward-Based Crowdfunding, and Venture Capital: The Mediating Role of Crowdfunding Performance for New Technology Ventures

Reward-based crowdfunding campaigns: informational value and access to venture capital

New Technology Assessment in Entrepreneurial Financing - Can Crowdfunding Predict Venture Capital Investments?

Recent years have seen an upsurge of novel sources of new venture financing through crowdfunding (CF). We draw on 54,943 successfully crowdfunded projects and 3,313 venture capital (VC) investments throughout the period 04/2012-06/2015 to investigate, on the aggregate level, how crowdfunding is related to a more traditional source of entrepreneurial finance, venture capital. Granger causality t...

Crowdfunding Success as a Quality Signal to Venture Capital

This study examines how venture capitals (VCs) value crowd-based decisions compared to expert decisions from the perspective of signaling theory. We collect data on both crowd-funded startups and matching angel-funded startups. We track sequential financing rounds and analyze whether VCs show different valuations of the two types of startups. Our results show no statistically significant differ...

Research on the Current State of Crowdfunding: The Effect of Crowdfunding Performance and Outside Capital

Improving the Role of Equity Crowdfunding in Europe's Capital Markets

• Equity crowdfunding is more complex than other forms of crowdfunding and requires proper checks and balances if it is to provide a viable channel for financial intermediation in the seed and early-stage market in Europe. It is important to explore this new channel of funding for young and innovative firms given the critical role these start-ups can play job creation and economic growth in Eur...