股权众筹:有什么值得庆祝的吗?

IF 2.3 4区管理学 Q2 BUSINESS, FINANCE

Venture Capital Pub Date : 2019-01-02 DOI:10.1080/13691066.2018.1559010

Armin Schwienbacher

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引用次数: 46

摘要

股权众筹近10年的发展历程，既有成功，也有失败。同时，要想成为创业金融的主流，它还面临着许多挑战。这些挑战在欧洲大陆尤其严重。本文回顾了过去10年取得的成就，并讨论了仍有待解决的重要挑战，如为投资者提供适当的风险调整回报，提高平台自身的盈利能力，以及使投资者能够退出初创公司。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Equity crowdfunding: anything to celebrate?

ABSTRACT The development of equity crowdfunding over the last 10 years has been accompanied by many successes and achievements, but also failures. At the same time, it still faces many challenges if it wants to become mainstream in entrepreneurial finance. These challenges are particularly severe in Continental Europe. This article reviews achievements made the last 10 years and discusses important challenges that remain to be solved such as delivering appropriate risk-adjusted returns to investors, enhancing platforms’ own profitability and enabling exit of investors from startups.

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来源期刊

Venture Capital BUSINESS, FINANCE-

CiteScore

4.10

自引率

16.70%

发文量

期刊介绍： Venture Capital publishes cutting edge research-based papers from academics and practitioners on all aspects of private equity finance such as: •institutional venture capital •informal venture capital •corporate venture capital •public sector venture capital •community venture capital It also covers all aspects of the venture capital process from investment decision to exit, including studies on: •investment patterns •investment decision-making •investment performance •realisation of investment value exit routes (including the relationship with junior capital markets such as NASDAQ, EASDAQ, AIM and Nouvelle March). •economic impact and public policy