The Economics of Crowdfunding

Startups, Portals and Investor Behavior

Editors: Cumming, D, Hornuf, Lars (Eds.)

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  • Brings together rigorous research in crowdfunding by leading academic scholars
  • Provides an overview and comparison of the different subcategories of crowdfunding
  • Offers an overview of the early and most recent literature on crowdfunding
  • Includes discussion of recent regulatory efforts in the United States and Europe
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  • ISBN 978-3-319-66119-3
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Softcover $129.00
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  • ISBN 978-3-319-88181-2
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About this book

This book focuses on various types of crowdfunding and the lessons learned from academic research. Crowdfunding, a new and important source of financing for entrepreneurs, fills a funding gap that was traditionally difficult to close. Chapters from expert contributors define and carefully evaluate the various market segments: donation-based and reward-based crowdfunding, crowdinvesting and crowdlending. They further provide an assessment of startups, market structure, as well as backers and investors for each segment. Attention is given to the theoretical and empirical findings from the recent economics and finance literature. Furthermore, the authors evaluate relevant regulatory efforts in several jurisdictions. This book will appeal to finance, entrepreneurship and legal scholars as well as entrepreneurs and platform operators.

About the authors

Douglas Cumming is a Professor of Finance and Entrepreneurship and the Ontario Research Chair at the Schulich School of Business, York University, Canada. Douglas has published over 140 articles in leading refereed academic journals in finance, management, and law and economics. He is the incoming Editor-in-Chief of the Journal of Corporate Finance (January 2018), and a Co-Editor of Annals of Corporate Governance, Finance Research Letters, and Entrepreneurship Theory and Practice. He is the author and editor of over a dozen books. Douglas’ work has been reviewed in numerous media outlets, including The Economist, The New York Times, and The New Yorker.

Lars Hornuf is a Professor of Finance at the University of Bremen, Germany. He was a visiting scholar at UC Berkeley, Stanford University, Duke University, and Georgetown University. From 2014 to 2017 Lars held a grant from the German Research Foundation on “Crowdinvesting in Germany, England and the USA: Regulatory Perspectives and Welfare Implications of a New Financing Scheme.” In 2016, he wrote two expert reports for the Federal Ministry of Finance on the German FinTech market and the Small Investor Protection Act. Lars’ work has been covered in newspapers like The Economist and Foreign Policy.

Table of contents (11 chapters)

Table of contents (11 chapters)
  • Introduction

    Pages 1-8

    Cumming, Douglas (et al.)

  • Crowdfunding as a New Financing Tool

    Pages 11-28

    Leboeuf, Gaël (et al.)

  • Signaling to Overcome Inefficiencies in Crowdfunding Markets

    Pages 29-56

    Vismara, Silvio

  • The Crowd–Entrepreneur Relationship in Start-Up Financing

    Pages 57-78

    Lambert, Thomas (et al.)

  • Fraudulent Behavior by Entrepreneurs and Borrowers

    Pages 79-99

    Hainz, Christa

Buy this book

eBook $99.00
price for Brazil (gross)
  • ISBN 978-3-319-66119-3
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $129.00
price for Brazil
  • ISBN 978-3-319-66118-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $129.00
price for Brazil
  • ISBN 978-3-319-88181-2
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.

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Bibliographic Information

Bibliographic Information
Book Title
The Economics of Crowdfunding
Book Subtitle
Startups, Portals and Investor Behavior
Editors
  • D Cumming
  • Lars Hornuf
Copyright
2018
Publisher
Palgrave Macmillan
Copyright Holder
The Editor(s) (if applicable) and The Author(s)
eBook ISBN
978-3-319-66119-3
DOI
10.1007/978-3-319-66119-3
Hardcover ISBN
978-3-319-66118-6
Softcover ISBN
978-3-319-88181-2
Edition Number
1
Number of Pages
XX, 283
Number of Illustrations
29 b/w illustrations
Topics