Invest or regret? An empirical investigation into funding dynamics during the final days of equity crowdfunding campaigns
Abstract
In this study, we use the options theory of investment to investigate the funding behaviour of investors in equity crowdfunding. Options theory argues that when faced with uncertainty, investors have the ‘option’ to delay their irreversible investments, although incur a cost in doing so. Demonstrating that investments in equity crowdfunding are characterised by low levels of irreversibility (i.e., they are semi-reversible), moderate costs of...
Paper Details
Title
Invest or regret? An empirical investigation into funding dynamics during the final days of equity crowdfunding campaigns
Published Date
Oct 1, 2019
Journal
Volume
58
Pages
784 - 803
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