title: Equity crowdfunding: Determinants of company’s success on a crowdfunding platform
metadata.name: dc.contributor.author
metadata.value: Berezinets, Irina V.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Ilina, Yulia B.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Klyarovskaya, Nadezhda A.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2021-10-01T14:46:57Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2021-10-01T14:46:57Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2021-06
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Berezinets I. V., Ilina Yu. B., Klyarovskaya N. A. 2021. Equity crowdfunding: Determinants of company’s success on a crowdfunding platform. Vestnik of Saint Petersburg University. Management 20 (2): 131–164.
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/11701/spbu08.2021.201
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/33222
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: Equity crowdfunding, a form of company financing through equity investments, has become
  increasingly relevant in recent years. This paper analyzes the advantages of this financing mechanism,
  the motives of issuers and investors — participants of the crowdinvesting process. Most
  participants of investing are non-professional investors, for whom recommendations for choosing
  companies on the platform based on the determinants of investment attractiveness are of
  practical value. The authors conducted an empirical study to establish the relationship between
  investment attractiveness and the characteristics of issuing companies emerging on the crowdfunding
  platforms. The study sample includes 299 companies that raised equity capital on one
  of the leading platforms in the UK, Crowdcube, between 2011 and 2020. The results of the study
  showed that the investment attractiveness of companies is higher if during placement they offer
  a larger share proportion of non-voting than voting shares during the placement. Companies
  in which managers own a share in capital, firms with registered patents as an indicator of their
  innovative activity, and companies that do not demonstrate industry diversification have a higher
  attractiveness for investors. This research contributes to the existing studies of determinants of
  the success of equity crowdfunding, provides recommendations to investors on the choice of
  companies with particular characteristics that determine the investment attractiveness of issuers
  on crowdfunding platforms.
metadata.lang: en_GB
metadata.name: dc.language.iso
metadata.value: ru
metadata.lang: en_GB
metadata.name: dc.publisher
metadata.value: St Petersburg State University
metadata.lang: en_GB
metadata.name: dc.relation.ispartofseries
metadata.value: Vestnik of St Petersburg University. Management;Volume 20; Issue 2
metadata.lang: -
metadata.name: dc.subject
metadata.value: equity crowdfunding
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: crowdinvesting
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: crowdfunding platforms
metadata.lang: en_GB
metadata.name: dc.subject
metadata.value: investment attractiveness
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Equity crowdfunding: Determinants of company’s success on a crowdfunding platform
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 131-164.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/33222/1/131-164.pdf
resources.format: Adobe PDF
resources.size: 889,94 kB