Access this book
Tax calculation will be finalised at checkout
Other ways to access
Table of contents (8 chapters)
-
Front Matter
-
Back Matter
Keywords
About this book
Michael Mödl examines the impact and signaling effects of crowd-based start-up financing on subsequent venture capital funding rounds. The digital era has substantially expanded the entrepreneurial financing landscape and crowdfunding is emerging as a novel way for young innovative firms to secure scarce early-stage funding. As the evaluations of venture capitalists and business angels remain to be consequential for securing critical resources in later stages, questions on the interactions between new and traditional forms of venture financing arise. Drawing on choice experimental research designs the author provides causal empirical evidence that while “the crowd” is generally seen as a negative signal, it can generate certain positive signals which increase the likelihood of professional venture investors to consider crowdfunded start-ups for investment. The presented findings yield important implications for capital-seeking entrepreneurs, investors and public policy.
Dr. Michael Maximilian Mödl completed his dissertation under supervision of Prof. Dietmar Harhoff, Ph.D. at Ludwig-Maximilians-Universität München and at the Max Planck Institute for Innovation and Competition.
Authors and Affiliations
About the author
Dr. Michael Maximilian Mödl completed his dissertation under supervision of Prof. Dietmar Harhoff, Ph.D. at Ludwig-Maximilians-Universität München and at the Max Planck Institute for Innovation and Competition.
Bibliographic Information
Book Title: Signaling Effects of Crowdfunding on Venture Investors‘ Decision Making
Authors: Michael Mödl
Series Title: Innovation und Entrepreneurship
DOI: https://doi.org/10.1007/978-3-658-31590-0
Publisher: Springer Gabler Wiesbaden
eBook Packages: Business and Management, Business and Management (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Fachmedien Wiesbaden GmbH, part of Springer Nature 2020
Softcover ISBN: 978-3-658-31589-4Published: 01 September 2020
eBook ISBN: 978-3-658-31590-0Published: 31 August 2020
Series ISSN: 2627-1168
Series E-ISSN: 2627-1184
Edition Number: 1
Number of Pages: XIX, 192
Number of Illustrations: 30 b/w illustrations, 11 illustrations in colour
Topics: Entrepreneurship, Economics, general