title: Alternative investments: Motives and risks for investors on crowdfunding platforms
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: Bobrov, Konstantin A.
metadata.lang: -
metadata.name: dc.contributor.author
metadata.value: Koptsev, Vladimir S.
metadata.lang: -
metadata.name: dc.date.accessioned
metadata.value: 2023-12-04T12:36:14Z
metadata.lang: -
metadata.name: dc.date.available
metadata.value: 2023-12-04T12:36:14Z
metadata.lang: -
metadata.name: dc.date.issued
metadata.value: 2023-09
metadata.lang: -
metadata.name: dc.identifier.citation
metadata.value: Berezinets I. V., Ilina Yu. B., Bobrov К. А., Koptsev V. S. 2023. Alternative investments: Motives and risks for investors on crowdfunding platforms. Vestnik of Saint Petersburg University. Management 22 (3): 313–336. https://doi.org/10.21638/11701/spbu08.2023.303 (In Russian)
metadata.lang: en_GB
metadata.name: dc.identifier.other
metadata.value: https://doi.org/10.21638/11701/spbu08.2023.303
metadata.lang: -
metadata.name: dc.identifier.uri
metadata.value: http://hdl.handle.net/11701/44431
metadata.lang: -
metadata.name: dc.description.abstract
metadata.value: With the development of financial markets and digital technologies, private companies are starting
  to actively use alternative financing tools, which, in turn, are becoming an alternative for
  investors to put money in traditional financial assets. Among these instruments, equity crowdfunding
  (crowdinvesting) plays a special role, an innovative method of financing through which
  issuers raise funds on online portals — crowdfunding platforms, and investors make investments
  in exchange for company shares. The subject of many academic and practical studies is the motives
  and risks of investing in this instrument. Due to the information asymmetry that exists
  between issuers and investors, the high uncertainty of future cash flows, the dominance of nonprofessional
  investors in the market, and a short history of the equity crowdfunding market, currently
  the issues of investors’ motives and risks remain poorly studied and the results of research
  are mixed. The purpose of this study was to identify and analyze the motives for investing in
  shares of small and medium-sized businesses on crowdfunding platforms, the risks associated
  with them, and the relationship between investment motives and characteristics of investors and
  crowdfunding campaigns. The research methodology was based on a review of contemporary
  studies on the issues under consideration. Based on the academic concepts, the experience of experts
  in this field and the authors’ own expertise acquired in the field of alternative investments,
  the authors put forward their own view building on the existing ideas. The results of the study
  are valuable for all participants of the equity crowdfunding process: issuing companies, investors,
  crowdfunding platforms. The authors contribute to the existing research on equity crowdfunding
  by proposing new approaches to identification of the motives of different categories of investors
  in relation to the factors which were not previously studied.
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 22; Issue 3
metadata.lang: -
metadata.name: dc.subject
metadata.value: alternative investments
metadata.lang: en_GB
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: information asymmetry
metadata.lang: en_GB
metadata.name: dc.title
metadata.value: Alternative investments: Motives and risks for investors on crowdfunding platforms
metadata.lang: en_GB
metadata.name: dc.type
metadata.value: Article
metadata.lang: en_GB
resources.filename: 03.pdf
resources.url: https://dspace.spbu.ru/bitstream/11701/44431/1/03.pdf
resources.format: Adobe PDF
resources.size: 157,35 kB