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Das Crowdinvesting-Modell für Startups - keine Assetklasse für schwache Nerven

Author

Listed:
  • Petry, Markus
  • Ulutaş, Soner

Abstract

Crowdinvesting bietet Privatinvestoren die Möglichkeit, sich auch mit relativ geringen Geldbeträgen an Startups zu beteiligen. Jedoch haben die Anleger durch eine Vielzahl teils öffentlichkeitswirksamer Pleiten einen Totalverlust des eingesetzten Kapitals erlitten. Die Ausfallraten deutscher Startup-Schwarmfinanzierungen liegen um die 30%. Diese können noch nicht durch die durchaus signifikanten Renditen einiger weniger erfolgreicher Unternehmen kompensiert werden. Die Probleme liegen in der Risikoklassifizierung durch die Plattformen, in adversen Selektionseffekten und Moral Hazard.

Suggested Citation

  • Petry, Markus & Ulutaş, Soner, 2021. "Das Crowdinvesting-Modell für Startups - keine Assetklasse für schwache Nerven," wifin Working Paper Series 8/2021, RheinMain University of Applied Sciences, Wiesbaden Institute of Finance and Insurance (wifin).
    • Handle: RePEc:zbw:wifinw:82021
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    More about this item

    Keywords

    Crowdinvesting; platforms; default rate; rate of return;
    All these keywords.

    JEL classification:

    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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