Template-Type: ReDIF-Article 1.0

Author-Name: Mónika Kuti
Author-Workplace-Name: University of Pécs
Author-Email: kutim@ktk.pte.hu

Author-Name: Zsolt Bedõ
Author-Workplace-Name: University of Pécs
Author-Email: zsoltbedo@ktk.pte.hu
Author-Person: pbe414

Author-Name: Dorottya Geiszl
Author-Workplace-Name: University of Pécs
Author-Email: dorottya.geiszl@gmail.com

Title: Equity-based Crowdfunding

Abstract: This paper presents the latest results of international research on equity-based
crowdfunding, and thus – according to the authors’ current knowledge – fills a
gap in the Hungarian literature. Equity-based crowdfunding offers a fundraising
opportunity through online platforms for small and medium-sized enterprises
seeking alternative forms of funding for growth opportunities and innovation in
this digital age. Investors interested in risk-adjusted financial return have several
methods available to handle capital market friction and agent costs in the context
of “crowdfunding”. Information signals on entrepreneurial quality are essential for
seasoned investors when making capital allocation decisions in a crowdfunding
campaign. In addition to the national legislative framework, platforms have many
different rules, techniques and cultural norms that attempt to handle capital market
imperfections.

Classification-JEL: F36, G19, O16
Keywords: equity crowdfunding, financial innovation, start-up financing
Pages: 187-200
Volume: 16
Issue: 4
Year: 2017
File-URL: http://english.hitelintezetiszemle.hu/letoltes/fer-16-4-e2-kuti-bedo-geiszl.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:16:y:2017:i:4:p:187-200