Digital Due Diligence Activities and Goal Setting in Equity Crowdfunding: Exploring the Differences between Novice and Experienced Investors

Riar, Frederik J.; Hienerth, Christoph; Berg Jensen, Morten (2021). Digital Due Diligence Activities and Goal Setting in Equity Crowdfunding: Exploring the Differences between Novice and Experienced Investors. International journal of entrepreneurial venturing, 13(1), pp. 1-26. Inderscience Enterprises 10.1504/IJEV.2021.114270

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Investor background can have major implications for decision-making processes in start-up financing. We investigate the differences between novice and experienced investors in equity crowdfunding. To date, empirical information about the specifics of these investor types in the crowdfunding literature is limited, as most studies do not investigate the micro level, i.e., the
actions and decisions of individuals. Our empirical results, based on data from a major European equity crowdfunding platform, show similarities but also clear differences among the different types of investors with regard to information search, communication, signaling effects, and investment motives. The insights of our study contribute to the crowdfunding literature by developing a better understanding of crowd investor types active in crowdfunding. Moreover, our findings specifically contribute to research on information assembly, communication, signaling, and investment motives in equity crowdfunding.

Item Type:

Journal Article (Original Article)

Division/Institute:

03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Organization and Human Resource Management > Human Resource Management
03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Organization and Human Resource Management

UniBE Contributor:

Riar, Frederik

Subjects:

300 Social sciences, sociology & anthropology
300 Social sciences, sociology & anthropology > 330 Economics
600 Technology > 650 Management & public relations

ISSN:

1742-5379

Publisher:

Inderscience Enterprises

Language:

English

Submitter:

Frederik Johannes Riar

Date Deposited:

29 Mar 2022 16:41

Last Modified:

05 Dec 2022 15:56

Publisher DOI:

10.1504/IJEV.2021.114270

BORIS DOI:

10.48350/162167

URI:

https://boris.unibe.ch/id/eprint/162167

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