To Infinity and Beyond: Financing Platforms with Uncapped Crypto Tokens

Funded Research Proposal

In this project, we examine the conditions under which such ICOs are optimal and provide guidance for their design. Despite their popularity in practice, uncapped ICOs are understudied and not as well understood as their capped counterparts.Read More

Does Crowdfunding Benefit Entrepreneurs and Venture Capital Investors?

Published Research

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

Initial Coin Offerings, Speculators, and Asset Tokenization

Working Papers

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

Working Papers

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