The entrepreneurial finance markets of the future: a comparison of crowdfunding and initial coin offerings

Artikel

Entrepreneurial finance markets are in a dynamic state. New market niches and players have developed and continue to emerge. The rules of the game and the methods for receiving financial backing have changed in many ways. This editorial and the special issue of Small Business Economics focus on crowdfunding (CF) and initial coin offerings (ICOs), which are two distinct but important entrepreneurial finance market segments of the future. Although the two market segments initially appear to be similar, we identify differences between them. Our comparison focuses on the stakeholders, microstructures, regulatory environments, and development of the markets. We conclude with suggestions for future ICO and CF research.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Small Business Economics ; ISSN: 1573-0913 ; Volume: 57 ; Year: 2020 ; Issue: 2 ; Pages: 865-882 ; New York, NY: Springer US

Classification and Topics

• Classification: Wirtschaft ; Entrepreneurship ; Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors ; Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies ; Corporate Finance and Governance: General
• Subject: Entrepreneurial finance ; SME financing ; Crowdfunding ; Initial coin offering ; ICOs ; Blockchain

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Block, Joern H. ; Groh, Alexander ; Hornuf, Lars ; Vanacker, Tom ; Vismara, Silvio
• Event: Veröffentlichung
• (who): Springer US
• (where): New York, NY
• (when): 2020

Further information

• DOI: doi:10.1007/s11187-020-00330-2
• Last update: 10.03.2025, 11:44 AM CET