Does Crowdfunding Benefit Entrepreneurs and Venture Capital Investors?

Working Papers

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

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