Signaling In Equity Crowdfunding
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This paper presents an initial empirical examination of which start-up signals will induce small investors to commit financial resources in an equity crowdfunding context.
In equity crowdfunding, it is unclear whether unsophisticated inexperienced crowd investors are capable of correctly interpreting ventures’ quality signals, even strong ones like affiliation
Beyond Words: An Experimental Study of Signaling in Crowdfunding

Results: We propose a new theory on quality signaling in crowdfunding. We show that contingent access to the regular selling market after running a successful crowdfunding
This chapter uses data on equity crowdfunding from the Australian Small Scale Offerings Board, one of the world’s first equity crowdfunding platforms in the world, for studying the role of
The study aims to investigate the signalling role played by the intellectual capital of entrepreneurial projects towards crowdfunders. The study argues that information on; the
- Quality Signals in Equity Crowdfunding
- Signaling and herding in reward-based crowdfunding
- Signals in equity-based crowdfunding and risk of failure
- Quality Signaling Through Crowdfunding Pricing
This paper presents a first–ever empirical examination of the effectiveness of signals that entrepreneurs use to induce (small) investors to commit financial resources in an equity
Gender stereotypes in equity crowdfunding: the effect of
This paper investigates how signaling and herding behavior interact in crowdfunding markets to give raise to an information cascade, even when there are no identifiable experts,
The internet nature of the equity crowdfunding platform increases the information asymmetry between fundraisers and investors, leading to adverse selection, especially for individual
To help investors distinguish between “lemons” and legitimate equity offerings, scholars have sought to identify the quality signals most frequently associated with successful
Our data highlight the importance of financial roadmaps and risk factors, as well as internal governance, for successful equity crowdfunding. External certification, by contrast, has little or
Signaling in Equity Crowdfunding. Signaling in Equity Crowdfunding. Denis Schweizer. 2000, SSRN Electronic Journal. See Full PDF Download PDF. See Full PDF Download PDF. Related
Signaling in Equity Crowdfunding Gerrit K.C. Ahlers,* Douglas Cumming,† Christina Günther,‡ Denis Schweizer§ ABSTRACT This paper presents an empirical examination of which start-up
Abstract Drawing on signaling theory, this study pro-vides preliminary evidence that prior financing certifies firm quality to investors and reduces information asymmetries in equity crowdfunding.
Signaling to Overcome Inefficiencies in Crowdfunding Markets
This paper presents a first–ever empirical examination of the effectiveness of signals that entrepreneurs use to induce (small) investors to commit financial resources in an equity
Signaling in Equity Crowdfunding SSRN Electronic Journal doi 10.2139/ssrn.2161587. Full Text Open PDF Abstract. Available in full text. Date. January 1,
- Signaling to Overcome Inefficiencies in Crowdfunding Markets
- Beyond Words: An Experimental Study of Signaling in Crowdfunding
- Third-party signals in equity crowdfunding: the role of prior
- Quality revealing versus overstating in equity crowdfunding

Our research makes several key contributions. First, we assess the impact of synergy and conflict within a signal portfolio on decision-making in equity crowdfunding. While
Third-party signals in equity crowdfunding: the role of prior financing Simon Kleinert & Christine Volkmann & Marc Grünhagen # Springer Science+Business Media, LLC, part of Springer
Signals in equity-based crowdfunding and risk of failure
Signaling in Equity Crowdfunding Signaling in Equity Crowdfunding Ahlers, Gerrit K.C.; Cumming, Douglas; Günther, Christina; Schweizer, Denis 2015-07-01 00:00:00
How signal portfolios affect success in equity-based crowdfunding: Evidence from the Chinese hotel industry International Journal of Hospitality Management, Vol. 123 The
This paper presents an initial empirical examination of which start-up signals will induce small investors to commit financial resources in an equity crowdfunding context.
Signaling in equity crowdfunding. GKC Ahlers, D Cumming, C Günther, D Schweizer. Entrepreneurship theory and practice 39 (4), 955-980, 2015. 2842: 2015: Gender diversity and
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We examine which crowdfunding project signals and attributes of venture quality are most likely to induce investors to commit financial resources in an equity crowdfunding context. We examine
Our results underscore the fundamental nature of social signaling in crowdfunding. Funder self-efficacy and crowd bias in equity crowdfunding. Journal of Business Venturing
This paper presents a first-ever empirical examination of the effectiveness of signals that entrepreneurs use to induce (small) investors to commit financial resources in an
The existing information asymmetries between fund-seeking entrepreneurs and potential investors require the implementation of signaling strategies between both economic
Equity crowdfunding provides entrepreneurs and founders the opportunity to raise funds from a large number of potential investors, using quality signals to influence their
Signaling in Equity Crowdfunding . Gerrit K.C. Ahlers *, Douglas Cumming †, Christina Günther ‡ and Denis Schweizer § A. BSTRACT. This paper presents a first-ever empirical examination of
This paper presents a first–ever empirical examination of the effectiveness of signals that entrepreneurs use to induce (small) investors to commit financial resources in an equity
Nearly four years after Reichenbach and Walther’s (2021) study of signal validity in equity crowdfunding, this article follows up on the status of the crowdfunded startups. It both
This study investigates signal validity in equity-based crowdfunding by examining whether signals that increase crowd participation are associated with higher post-offering
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