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Notes
- 1.
The term “crowdinvesting” is frequently used in German speaking countries.
- 2.
For readers’ convenience, we updated the publication dates of earlier published versions. For our analysis, we used the first published online version according to our time frame.
- 3.
Research areas referring to legal and regulatory issues will be part of Section 2.3.2.3
- 4.
This information was received from the Seedrs Blog. https://www.seedrs.com/learn/blog/seedrs-news/features-updates/secondarymarket (Accessed 4 December 2017).
- 5.
Some ventures have successfully obtained a subsequent equity crowdfunding campaign.
- 6.
For further information on warm-glow theory, see Andreoni (1990).
- 7.
No further information about the sample is available (e.g. platforms, equity crowdfunding experiences etc.)
- 8.
For more information about calculus and relationship trust, see e.g. Ba et al. (2003) and Urban et al. (2009).
- 9.
For a systematic review of research on the theory of consumption values see Sánchez-Fernández and Iniesta-Borillo 2007.
- 10.
Pure crowd = without lead investors, Hybrid crowd = crowd is led by a lead investor.
- 11.
Due to variation according the final number of observations, we are not able to name the exact number of syndicated and non-syndicated deals compared.
- 12.
This framework incorporates all information system related risks. For more information, see Sherer and Alter (2004).
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Mochkabad Khoramchahi, K. (2020). Equity Crowdfunding: A Systematic Review of the Literature. In: Equity Crowdfunding. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-31266-4_2
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DOI: https://doi.org/10.1007/978-3-658-31266-4_2
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