GA ČR - Crowdfunding

Czech Science Foundation project

Project objective

The main project objective is to identify links between the financial and economic development, regulation, and firms' access to finance via crowdfunding. The project team will focus on the data on crowdfunding platforms and their geographical comparison with a specific attention to CEE countries.

Project team is formed by the following partners:

Project focus

We will focus on identification of strategies to minimize risks, burdens and limitations of this financing form, and identify the best practices for entrepreneurial decision-making process. By comparing existing regulations across countries we will identify best practices, based on which we will derive policy implications. Finally, we focus on possible relationship between traditional banking and crowdfunding in order to provide a good comparative basis for the decision-making processes.

The empirical strategy will reflect specific problems of crowdfunding. First, we focus on herding behaviour and apply the sequential correlation in funding. Second, we apply cross-section and panel regressions to identify basic determinants of crowdfunding projects with a special attention to regulation. Finally, we will adopt a quantile regressions and threshold analysis, which will identify possible non-linear effects in our models.