Action for Microfinance in Africa (AMAF)
, 24
African Private Equity and Venture Capital Association (AVCA)
, 25
Alternative financing method
, 83
Australian Small Scale Offerings Board (ASSOB)
, 230
Bank of Central African States (BEAC)
, 22
Banking Commission of Central Africa (COBAC)
, 22
Behavioural Finance approach
, 135
Benefit corporations
, 137
Bombay Stock Exchange (BSE)
, 174
Broker-dealer license
, 85
Canadian Securities Administrators (CSA)
, 86
Capital assembly
in crowdfunding platforms
, 103–104
narrative and entrepreneurial
, 104–106
Capital Asset Pricing Model (CAPM)
, 132
Cash management
, 131, 138
Cash surpluses
, 131, 136, 147
CEMAC. See Economic and Monetary Community of Central Africa (CEMAC)
CF. See Crowdfunding (CF)
CFP. See Crowdfunding platforms (CFP)
COBAC. See Banking Commission of Central Africa (COBAC)
Corporations and Market Advisory Committee (CAMAC)
, 87
Credit Guarantee Fund Scheme
, 174
Cross-side network effects
, 6–7
Crowd
, 203, 204–211
democratic power of
, 207–208
with generosity
, 210–211
impulsiveness of
, 205–207
indifference of
, 211
online
, 212–215
suggestibility of
, 209–210
wisdom of
, 204–205
Crowdfunding (CF)
academic authors
, xxvii–xxix
academic institutions
, xxix–xxxi
academic literature on
, xxvi–xxvii
in Australia
, 87
backers and campaign duration
, 112, 121
in Canada
, 86
complexity
, xxii
computer-mediated phenomenon
, 38
context
, 108
contextualized methods
, xviii–xix
in continental Europe
, 88–97
data collection and variables
, 108–110
define
, 170
descriptive statistics
, 110–111
donation-based model
, xxiii–xxiv
equity-based model
, xxiv–xxv
European Commission
, 82
fad phenomenon
, xvi–xvii
framework for
, 159–165
funding target, pledge and ratio
, 112, 120–121
gender effects
, 122–123
limitations
, 124
micro-payment providers
, xxii
microfinance or lending-based models
, xxv–xxvi
in New Zealand
, 87–88
participants and platforms
, 39–40
participation, motivations and deterrents for
, 48–60
platforms types
, xxiii
professionalization of
, 60–61
proliferation of
, 61
properties
, xxi
psychological experience
, 47–48
publicizing
, 44–45
questions and recommendations
, 252–253
reciprocate resources
, 46
reward-based model
, xxiii–xxiv
reward-levels
, 112–114, 121–122
social phenomenon
, xix–xx
sustainable or temporary social phenomenon
, xvii
thematic research
, xxxi–xxxiii
in United Kingdom
, 86–87
in United States
, 84–85
visual pitch
, 114–119, 122
work involved in
, 40–48
Crowdfunding Exemption
, 86
Crowdfunding platforms (CFP)
capital assembly in
, 103–104
competition
, 15–17
design strategies
, 9–12
entrepreneurs
, 102
governance strategies
, 12–15
narrative framework
, 103
Crowdfunding projects
, 215
Crowdlending
, 83, 87, 92, 131
CSA. See Canadian Securities Administrators (CSA)
Design strategies, crowdfunding platforms
attracting other groups
, 11–12
choice of crowdfunding model
, 9–11
Disseminate information
, 13
Donation-based crowdfunding
, 23, 197
Donation-based model
, xxiii–xxiv
East Africa Venture Capital Association (EAVCA)
, 24
Economic and Monetary Community of Central Africa (CEMAC)
, 22
Egocentric perspective
, 131
Entrepreneurial capital assembly
, 104–106
Entrepreneurial narrative
co-created
, 108
crowdfunding campaign
, 124
hero entrepreneur
, 105
novel products and business models
, 105
and resource assembly
, 120
video pitches
, 108
Equity crowdfinancing, Gabon
institutional behavior
, 29–30
social value
, 25–27
tontine social behavior
, 27–28
Equity-based crowdfunding
, 23, 84, 221–222
Equity-based model
, xxiv–xxv
Facebook
, 155, 156, 158, 159, 161, 162, 163
FDA. See French Development Agency (FDA)
Financial Conduct Authority (FCA)
, 86
Financial innovation
, 130, 131, 132–134
Financial Market Authority
, 87
Financing small businesses
financial resources
, 23
Gabon
, 22
French Development Agency (FDA)
, 23
Gabon
crowdfunding system
, 32
equity crowdfinancing
institutional behavior
, 29–30
social value
, 25–27
tontine social behavior
, 27–28
very small businesses (VSB)
, 30
Governance strategies, crowdfunding platforms
combat fraud
, 13–14
contributors
, 14
disseminate information
, 13
provision point mechanism
, 14
trusted intermediaries
, 15
Great Depression in
, 1933, 223
Harmonize crowdfunding regulation
, 97
Indian MSME
capital availability
, 173–177
method of study
, 177–182
MSMED Act
, 171–172
Information asymmetry
, 15
Institutional trading platform (ITP)
, 174
Islamic crowdfunding
empirical analysis of
, 191–193
in France
, 190
importance of
, 195
market of
, 193–194
platforms and islamic contracts
, 194–195
theoretical viewpoint
, 188–189
Italian National Institute of Statistics (ISTAT)
, 68
Italy
empirical investigation of
, 71–73
hybrid ventures
, 69
NGO accountability
, 69
non-profit organizations
, 72
public-private collaborations
, 69
results and main implications
, 73–77
social entrepreneurship
, 68–70
social finance
, 69
social networks
, 70
successful crowdfunding
, 70–71
ITP. See Institutional trading platform (ITP)
Jumpstart our Business Startups Act (JOBS Act)
, 4, 85, 180, 220, 222
alternatives to
, 229–230
development and contents
, 223–226
equity-based crowdfunding
, 226–228
improvement
, 231–232
Kickstarter
, 152, 153, 156
Legal framework
in Australia
, 87
in Canada
, 86
in continental Europe
, 88–97
in New Zealand
, 87–88
in United Kingdom
, 86–87
in United States
, 84–85
Lending-based crowdfunding
, 23
Marketing and communication
, 203
Matamba Anonaka Technology Holdings (MATHS)
, 24
MCC. See Mondragon Group (MCC)
MCH. See Mutual cash holding (MCH)
MFI. See Microfinance institutions (MFI)
Micro-financial operations
, 203
Micro-payment providers
, xxii
Micro, small and medium enterprises (MSME)
, 171
See also Indian MSME
Micro, Small and Medium Enterprises Development (MSMED) Act
, 171
Microfinance institutions (MFI)
, 24
Mondragon Group (MCC)
, 132, 136, 139, 140–145
Monetary and Financial Code
, 92, 93
Multisided platforms
distinct groups of consumers
, 5–6
intermediation, added value of
, 7–8
network effects
, 6–7
Muslim countries
, 190–191
See also Islamic crowdfunding
Mutual cash holding (MCH)
, 131, 140–145
Narrative and crowdfunding
, 106–108
Narrative and entrepreneurial capital assembly
, 104–106
Neo-institutional theory
, 23, 30–33
Non-unitary financing transaction
, 83
Online crowds
, 203, 211–215, 212–215
Online social media mechanisms
, 103
PCO. See Psychological contracts in organizations (PCO)
Peer to peer (P2P)
, 131, 132
online interactions
, 222
Petrobras Funarte Dance Award
, 152
Portfolio Selection Theory
, 134
Price discrimination
, 10, 11
Provision point mechanism
, 14
Psychological contracts in organizations (PCO)
aspects of
, 243–250
in crowdfunding projects
, 238–242
perspective of
, 250–254
Resource assembly
, 103, 105
Reward-based crowdfunding
, 23
Rewards-based crowdfunding
, 103
Securities and Exchange Commission (SEC)
, 4, 85, 225
Seed Enterprise Investment Scheme (SEIS)
, 86
Sharia compliant
business model
, 196–197
crowdfunding concept
, 186–187
Islamic finance
, 187–188
Sharia-compatible crowdfunding
, 193
Small and medium enterprises (SME) funds
, 173
Social network
analysis
, 153
approach
, 154–159
centralization
, 157
clustering
, 157–158
cohesion
, 156–157
coordination model
, 155
extension
, 156
flow model
, 155
power
, 158–159
Traditional financial models
, 134–136
Trocobuy
, 136, 139, 140–145
US digital experimenter
, 202
Venture capital and microfinance credit
, 23–25
Venture capital companies (VCC)
, 176
Venture Capital funds
, 173
Venture Capitals for Africa (VC4A)
, 24
Within-side network effects
, 6–7