We study how a new development in entrepreneurship—crowdfunding—interacts with more traditional financing sources, such as venture capital (VC) and bank financing. …Read More
Does Crowdfunding Benefit Entrepreneurs and Venture Capital Investors?
Gerry Tsoukalas
Initial Coin Offerings, Speculators, and Asset Tokenization
Initial coin offerings (ICOs) are an emerging form of fundraising for blockchain-based startups. We examine how ICOs can be leveraged in the context of asset tokenization, whereby firms issue tokens backed by future assets (i.e., inventory) to finance growth.…Read More
Blockchain and the Value of Operational Transparency
The project aims to explore the extent to which blockchain technology can be ported to alleviate information asymmetry issues in the context of supply chain financing. In particular, firms seeking the capital needed to efficiently run their operations are often impeded by severe information asymmetry issues. …Read More
When Crowdfunding Crowds Out the Competition
Crowdfunding platforms such as Kickstarter have been popular in the U.S. for several years, allowing everyday consumers to fund entrepreneurial ventures in return for the finished product. While such “reward-based” crowdfunding can open many doors for entrepreneurs, could it also close others?…Read More