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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 …