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  Crowdinvesting – Angel Investing for the Masses?

Hornuf, L., & Schwienbacher, A. (2016). Crowdinvesting – Angel Investing for the Masses? In C. Mason, & H. Landström (Eds.), Handbook of Research on Business Angels (pp. 381-398). Cheltenham UK; Northampton, MA: Edward Elgar.

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Genre: Contribution to Collected Edition

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http://ssrn.com/abstract=2401515 (Preprint)
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 Creators:
Hornuf, Lars1, Author              
Schwienbacher, Armin2, Author
Affiliations:
1MPI for Innovation and Competition, Max Planck Society, ou_2035292              
2External Organizations, ou_persistent22              

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Free keywords: crowdinvesting, equity crowdfunding, business angels, regulation
 Abstract: This book chapter reviews crowdinvesting, which is sometimes referred to as equity crowdfunding. It specifically aims at answering the following question: Is crowdinvesting transforming the crowd into small business angels? In order to answer this question, we review the securities regulation in different jurisdictions and compare crowdinvesting practices in these countries with angel finance. Finally, we offer insights into different avenues for future research. One pertains to the question whether crowdinvesting will complement or substitute angel finance. While this issue cannot be answered unambiguously, we expect that in many cases, crowdinvesting may become a complementary source of funding to angel finance rather than a substitute. This is because crowdinvestors fill funding gaps at the lower end of the market or may at times co-invest with professional investors. In other cases, crowdinvestors may compete with business angels for the same investments since average funding volumes can be similar.

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Language(s): eng - English
 Dates: 2016
 Publication Status: Published in print
 Pages: -
 Publishing info: -
 Table of Contents: -
 Rev. Type: -
 Identifiers: -
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Title: Handbook of Research on Business Angels
Source Genre: Collected Edition
 Creator(s):
Mason, Colin1, Editor
Landström, Hans1, Editor
Affiliations:
1 External Organizations, ou_persistent22            
Publ. Info: Cheltenham UK; Northampton, MA : Edward Elgar
Pages: - Volume / Issue: - Sequence Number: - Start / End Page: 381 - 398 Identifier: ISBN: 978-1-78347-171-3