Arbeitspapier
Crowdinvesting in entrepreneurial projects: Disentangling patterns of investor behavior
Crowdinvesting emerged recently as an alternative way of funding for start-up projects. Our dataset consists of all pledges made at Companisto, one of the largest crowdinvesting platforms in Europe. Using cluster analysis based on individual investment histories, we find that crowdinvestors differ in their investment strategies and motivations. We can distinguish three types of crowdinvestors that vary in their response to project quality signals of entrepreneurs, project-related information reducing the degree of uncertainty and social influence by fellow investors: Casual Investors, Crowd Enthusiasts, and Sophisticated Investors. We conclude that crowdinvestors are anything but a homogeneous group. Instead, they are motivated by different factors and respond to different signals when making investment decisions.
- Sprache
-
Englisch
- Erschienen in
-
Series: Jena Economic Research Papers ; No. 2018-018
- Klassifikation
-
Wirtschaft
Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors
Behavioral Finance: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets‡
Entrepreneurship
- Thema
-
Crowdinvesting
Entrepreneurial finance
New ventures
Cluster analysis
Social influence
Signaling
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Goethner, Maximilian
Luettig, Sebastian
Regner, Tobias
- Ereignis
-
Veröffentlichung
- (wer)
-
Friedrich Schiller University Jena
- (wo)
-
Jena
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Goethner, Maximilian
- Luettig, Sebastian
- Regner, Tobias
- Friedrich Schiller University Jena
Entstanden
- 2018
Ähnliche Objekte (12)
Crowdinvesting in entrepreneurial projects: disentangling patterns of investor behavior
Crowdfunding of Entrepreneurial Projects in Sport
Patterns of entrepreneurial behaviour and business performance
From investor to entrepreneur – An explorative study of the entrepreneurial behaviour of investor-entrepreneurs
Disentangling Different Patterns of Business Cycle Synchronicity in The EU Regions
Financing of entrepreneurial firms in Canada: Some patterns
Disentangling Global Governance
Change and the entrepreneur : postulates and patterns for entrepreneurial history
Investing in forest carbon projects : guedelines for companies and private investors
Obsessed maniacs and clairvoyant oracles: Empirically validated patterns of entrepreneurial behavior
The Characteristics and Value-Added Contributions of Private Investors to Entrepreneurial Software Ventures
The founder's investor choice : entrepreneurial decision-making in light of IVC-CVC-tradeoff
Crowdinvesting in entrepreneurial projects: disentangling patterns of investor behavior
Crowdfunding of Entrepreneurial Projects in Sport
Patterns of entrepreneurial behaviour and business performance
From investor to entrepreneur – An explorative study of the entrepreneurial behaviour of investor-entrepreneurs
Disentangling Different Patterns of Business Cycle Synchronicity in The EU Regions
Financing of entrepreneurial firms in Canada: Some patterns
Disentangling Global Governance
Change and the entrepreneur : postulates and patterns for entrepreneurial history
Investing in forest carbon projects : guedelines for companies and private investors
Obsessed maniacs and clairvoyant oracles: Empirically validated patterns of entrepreneurial behavior
The Characteristics and Value-Added Contributions of Private Investors to Entrepreneurial Software Ventures
The founder's investor choice : entrepreneurial decision-making in light of IVC-CVC-tradeoff
Crowdinvesting in entrepreneurial projects: disentangling patterns of investor behavior
Crowdfunding of Entrepreneurial Projects in Sport
Patterns of entrepreneurial behaviour and business performance
From investor to entrepreneur – An explorative study of the entrepreneurial behaviour of investor-entrepreneurs
Disentangling Different Patterns of Business Cycle Synchronicity in The EU Regions
Financing of entrepreneurial firms in Canada: Some patterns
Disentangling Global Governance
Change and the entrepreneur : postulates and patterns for entrepreneurial history
Investing in forest carbon projects : guedelines for companies and private investors
Obsessed maniacs and clairvoyant oracles: Empirically validated patterns of entrepreneurial behavior
The Characteristics and Value-Added Contributions of Private Investors to Entrepreneurial Software Ventures