Crowdfunding as a mechanism for financing small and medium-sized enterprises
Journal Title: e-Finanse - Year 2016, Vol 12, Issue 3
Abstract
The implementation of an innovative idea by small and medium-sized enterprises often is difficult because of the difficulty in finding a source of financing. The modern level of development of communication technology, exchange of information, the possibility of combining these potentials and using synergistic initatives provides an opportunity to overcome this barrier. Dynamically growing crowdfunding is an opportunity for implemented projects. This study presents a definition of crowdfunding, its types as well as advantages and disadvantages from lender and loaner of capital points of view. It also shows the dynamics of crowdfunding market growth in Europe and the legal basics. The aim of the article is to describe the characteristics of crowdfunding, attempt of identification of the key factors determining its allocative efficiency, and to present their impact on its further development.
Authors and Affiliations
Janusz Paweł Cichy, Witold Gradoń
Keywords
Related Articles
- EP ID EP322480
- DOI 10.14636/1734-039X_12_3_003
- Views 82
- Downloads 0
REGULATIONS AND TECHNOLOGY BEHIND HFT LATENCY, BATCH AUCTIONS AND PAYMENTS FOR ORDER FLOW IN THE US AND EU
In recent years, there have been many discussions and analyses of how high-frequency trading may affect the financial market – but still without any clear conclusions. Leaving these opinions behind, many adjustments have...
TERMINAL VALUE CALCULATION IN DCF VALUATION MODELS: AN EMPIRICAL VERIFICATION
The paper presents an empirical verification of the main assumptions underlying the calculation of terminal value in DCF valuation models. The test results suggest that the volatility of free cash flows and the dynamism...
ANALYSIS OF THE PRIVATIZATION PROCESS IN POLAND IN THE YEARS 2008-2011 – OUTCOMES AND PROSPECTS
The paper focuses on the analysis of the privatization process conducted in the years 2008-2011 with an attempt to show a broad picture of privatization in Poland, indicate resources that still exist although hidden and...
CORPORATE BOND MARKET OF REAL ESTATE DEVELOPMENT COMPANIES IN POLAND
The aim of the article examines the features that determine the attractivenessof bonds as a financing instrument for real estate development projects in Poland, and the share of debt securities and bonds in the financing...
Analysis of some inner factors affecting the lending rate and commercial bank behavior
This research study aims to investigate the potential inner factors of the lending rate in the commercial banking sector of Pakistan. For this purpose, seven bank-specific explanatory variables (capital adequacy, managem...