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Success Factors In Title Ii Equity Crowdfunding In The United States, Stanislav Mamonov, Ross Malaga
Success Factors In Title Ii Equity Crowdfunding In The United States, Stanislav Mamonov, Ross Malaga
Department of Information Management and Business Analytics Faculty Scholarship and Creative Works
Title II of the JOBS Act has expanded the opportunities for entrepreneurial ventures to raise funds from accredited investors via online equity crowdfunding platforms in the United States. Over $1.4 billion in capital has been committed by the accredited investors in Title II platforms since 2013, yet little is known about how venture characteristics influence the success of raising funds from investors via online equity crowdfunding platforms. Further, it is not known whether online equity crowdfunding is supplementing or replacing traditional venture funding sources. To address these gaps in our knowledge, we draw on research in traditional offline risk capital …
Gender Difference In Equity Crowdfunding: An Exploratory Analysis, Ross Malaga, Stanislav Mamonov, Janet Rosenblum
Gender Difference In Equity Crowdfunding: An Exploratory Analysis, Ross Malaga, Stanislav Mamonov, Janet Rosenblum
Department of Information Management and Business Analytics Faculty Scholarship and Creative Works
Purpose: Title II of the Jumpstart Our Business Startups Act aims to make it easier for new ventures to raise funds from accredited investors via equity crowdfunding. The purpose of this paper is to understand whether Title II equity crowdfunding represents an opportunity for women-owned companies (those that have one or more female owners/founders) to raise capital at rates similar to companies owned by men. Design/methodology/approach: The authors conduct an exploratory analysis using a data set containing 6,234 Title II equity crowdfunded offerings aggregated across 17 crowdfunding platforms between September 2013 and December 2015. Findings: The authors find that women-owned …
Success Factors In Title Iii Equity Crowdfunding In The United States, Stanislav Mamonov, Ross Malaga
Success Factors In Title Iii Equity Crowdfunding In The United States, Stanislav Mamonov, Ross Malaga
Department of Information Management and Business Analytics Faculty Scholarship and Creative Works
The financial industry is seeing rapid introduction of new technologies and new business models that are challenging established practices. Recent changes in financial regulation in the United States have spurred evolution of equity crowdfunding as a potential alternative to traditional sources of venture capital. To address the relative lack of knowledge about success factors, we focus on Title III equity crowdfunding platforms in the United States that are open to non-accredited investors. We draw on traditional venture finance research and we examine the effects of market, execution and agency risks in equity crowdfunding under Title III. We collect data on …
An Exploratory Analysis Of Title Ii Equity Crowdfunding Success, Stanislav Mamonov, Ross Malaga, Janet Rosenblum
An Exploratory Analysis Of Title Ii Equity Crowdfunding Success, Stanislav Mamonov, Ross Malaga, Janet Rosenblum
Department of Information Management and Business Analytics Faculty Scholarship and Creative Works
The passage of the Jumpstart Our Business Startups Act (JOBS Act) ushered in a new wave of equity crowdfunding in the United States. Title II of the JOBS Act aims to make it easier for new ventures to raise funds from accredited investors. The number of Title II crowdfunded projects is growing rapidly. Based on data for US online 506(c) offerings across 17 leading platforms, more than $1.49 billion in capital was committed to Title II projects through May 2016. Our analysis of Title II offerings from these platforms reveals that real estate ventures are the single largest category with …