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Signaling Effects of Crowdfunding on Venture Investors‘ Decision Making

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Signaling Effects of Crowdfunding on Venture Investors‘ Decision Making/ by Michael Mödl.
Author:	Mödl, Michael.
Description:	XIX, 192 p. 41 illus., 11 illus. in color.online resource. :
Contained By:	Springer Nature eBook
Subject:	Entrepreneurship. -
Online resource:	https://doi.org/10.1007/978-3-658-31590-0
ISBN:	9783658315900

Signaling Effects of Crowdfunding on Venture Investors‘ Decision Making
Mödl, Michael.

Signaling Effects of Crowdfunding on Venture Investors‘ Decision Making[electronic resource] /by Michael Mödl. - 1st ed. 2020. - XIX, 192 p. 41 illus., 11 illus. in color.online resource. - Innovation und Entrepreneurship,2627-1168. - Innovation und Entrepreneurship,.

Introduction -- New Venture Financing Research -- Theory and Hypotheses -- Methods -- Data and Sample Description -- Venture Investors’ Perceptions of Entrepreneurs’ Financing Hierarchies -- Effects of Crowdfinancing on Subsequent Venture Capital Selection -- Summary, Discussion and Outlook.

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.

ISBN: 9783658315900

Standard No.: 10.1007/978-3-658-31590-0doiSubjects--Topical Terms:

559908
Entrepreneurship.

LC Class. No.: HB615

Dewey Class. No.: 658.421

Signaling Effects of Crowdfunding on Venture Investors‘ Decision Making
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