Does Crowdfunding Benefit Entrepreneurs and Venture Capital Investors?

Problem Definition: We study how a new development in entrepreneurship --- crowdfunding --- interacts with more traditional financing sources, such as venture capital (VC) and bank financing. Academic/Practical Relevance: While extant literature has mainly focused on predicting crowdfunding campaign outcomes and optimal campaign design, the broader questions of how crowdfunding affects entrepreneurs and how crowdfunding platforms fit in with...