Information Cascades among Investors in Equity Crowdfunding

By Silvio Vismara. 2015

528 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Management Information Systems, Marketing

View Paper: https://www.semanticscholar.org/paper/f55707d82a6ac8946809b5c994af6c5d930e3bb2

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Citations in the corpus

Does success bring success? The post-offering lives of equity-crowdfunded firms (2017, methodology): “Vismara (2017) finds that crowdfunding investors free-ride on the investment decisions of previous backers and bid on the projects with the greatest number of investments in an information cascade fashion.”
Institutional investors and post-ICO performance: an empirical analysis of investor returns in initial coin offerings (ICOs) (2020, unknown): “Research in crowdfunding underlines the importance of attracting early investors for funding success and argues that attracting early investors is particularly beneficial for accelerating campaigns and increasing the funding collected (e.g., Vismara, 2018).”
Equity crowdfunding: First resort or last resort? (2017, methodology): “…crowdfunding has emerged as a new source of external equity finance that plays an increasingly important role in the financing of young entrepreneurial firms (e.g., Ahlers et al., 2015; Bruton et al., 2015; Cumming and Vismara, 2017; Drover et al., 2017; Short et al., 2017; Vismara, 2016, 2018).”
Determinants of individual investment decisions in investment-based crowdfunding (2018, unknown): “of these other forms of crowdfunding has limited applicability to investment-based crowdfunding because incentives and compensation of the crowd are different (Vismara, 2018).”
Motives and profiles of ICO investors (2019, background): “In the eyes of policymakers, financial innovations are intertwined with increased financial inclusion (Cumming, Meoli, & Vismara, 2018).”
Crowdfunding and social capital: A systematic review using a dynamic perspective (2021, background): “Several studies investigate how projects ’ performance in equity crowdfunding affects their probability of receiving follow-up W. Cai et al. investments (Cumming et al., 2019; Signori and Vismara, 2018); however, they ignore the role of social capital.”
Equity crowdfunding in Germany and the United Kingdom: Follow-up funding and firm failure (2018, unknown): “Until now, most research has focused on the success factors of ECF campaigns (Ahlers, Cumming, Guenther, & Schweizer, 2015; Hornuf & Schwienbacher, 2018a, 2018b; Ralcheva & Roosenboom, 2016; Vismara, 2017; Vulkan, Åstebro, & Sierra, 2016) and the determinants of crowd engagement (Agrawal, Catalini, ”
Forecasting success in equity crowdfunding (2019, unknown): “3 See Signori and Vismara (2018) for the first overview of what happens after a successful equity crowdfunding campaign and Hornuf et al. (2018) for the effect of equity crowdfunding on obtaining followup funding through business angels or venture capitalists.”
Investors’ choices between cash and voting rights: Evidence from dual-class equity crowdfunding (2019, unknown): “The direct involvement of a large number of small investors makes Crowdcube particularly suitable for studies in corporate finance (e.g., Cumming et al., 2016; Vismara 2016; 2018; Vulkan et al., 2016).”
Equity retention and social network theory in equity crowdfunding (2016, unknown): “In line with previous studies (e.g., Colombo et al. 2016; Vismara 2015), the Funding_Amount variable is measured as the percentage of target capital collected.”
The entrepreneurial finance markets of the future: a comparison of crowdfunding and initial coin offerings (2020, background): “Rossi and Vismara (2018) describe the regulation and development process of equity CF in France, Italy, Germany, and the UK.”
Gender differences in the contribution patterns of equity-crowdfunding investors (2017, unknown): “Both of these conditions appear to be strongly present in the equity crowd-funding context (Vismara 2016b; Hornuf and Schwienbacher 2015b).”