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Crowdfunding: The collaborative economy for channelling institutional and household savings

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  • Roig Hernando, Jaume

Abstract

The financial disintermediation mechanism known as “loan-based-crowdfunding” has recently come under regulation in several countries. This competitive investment and finance vehicle is already well established in the US and British markets.

Suggested Citation

  • Roig Hernando, Jaume, 2016. "Crowdfunding: The collaborative economy for channelling institutional and household savings," Research in International Business and Finance, Elsevier, vol. 38(C), pages 326-337.
    • Handle: RePEc:eee:riibaf:v:38:y:2016:i:c:p:326-337
    DOI: 10.1016/j.ribaf.2016.03.004
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    References listed on IDEAS

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    1. Gale, William G & Scholz, John Karl, 1994. "IRAs and Household Saving," American Economic Review, American Economic Association, vol. 84(5), pages 1233-1260, December.
    2. Victor DeMiguel & Lorenzo Garlappi & Raman Uppal, 2009. "Optimal Versus Naive Diversification: How Inefficient is the 1-N Portfolio Strategy?," The Review of Financial Studies, Society for Financial Studies, vol. 22(5), pages 1915-1953, May.
    3. Milton Friedman, 1957. "Introduction to "A Theory of the Consumption Function"," NBER Chapters, in: A Theory of the Consumption Function, pages 1-6, National Bureau of Economic Research, Inc.
    4. Kroszner, Randall S., 2013. "Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262518734, December.
    5. Rubinton, Brian J, 2011. "Crowdfunding: disintermediated investment banking," MPRA Paper 31649, University Library of Munich, Germany.
    6. George A. Akerlof & Robert J. Shiller, 2010. "Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism," Economics Books, Princeton University Press, edition 1, number 9163.
    7. Milton Friedman, 1957. "The Implications of the Pure Theory of Consumer Behavior," NBER Chapters, in: A Theory of the Consumption Function, pages 7-19, National Bureau of Economic Research, Inc.
    8. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 717-737.
    9. Milton Friedman, 1957. "A Theory of the Consumption Function," NBER Books, National Bureau of Economic Research, Inc, number frie57-1.
    10. Shlomo Benartzi & Richard Thaler, 2007. "Heuristics and Biases in Retirement Savings Behavior," Journal of Economic Perspectives, American Economic Association, vol. 21(3), pages 81-104, Summer.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Dan POPESCU & Valentina NICOLAE & Cristina STATE & Ioana-Maria PAVEL & Alina DINU, 2017. "Empirical Study on Identifying Collaborative Practices in Local Communities," ECONOMIC COMPUTATION AND ECONOMIC CYBERNETICS STUDIES AND RESEARCH, Faculty of Economic Cybernetics, Statistics and Informatics, vol. 51(4), pages 73-90.
    2. Wang, Wanxin & Mahmood, Ammara & Sismeiro, Catarina & Vulkan, Nir, 2019. "The evolution of equity crowdfunding: Insights from co-investments of angels and the crowd," Research Policy, Elsevier, vol. 48(8), pages 1-1.

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    More about this item

    Keywords

    Financial markets; Collaborative economy; Crowdfunding; Alternative investment; Retail investors; Retirement plans; Small and medium enterprises (SMEs);
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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