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dc.contributor.authorLey, Andyen_US
dc.contributor.authorWeaven, Scotten_US
dc.contributor.editorSherry Robinsonen_US
dc.date.accessioned2017-04-24T09:57:24Z
dc.date.available2017-04-24T09:57:24Z
dc.date.issued2011en_US
dc.date.modified2012-02-17T05:10:22Z
dc.identifier.issn10879595en_US
dc.identifier.urihttp://hdl.handle.net/10072/42908
dc.description.abstractIn the last decade venture capital markets around the world have experienced growth both in terms of capital under management and the number of venture capital firms providing finance. Despite this there is growing evidence that a 'funding gap' exists at the earliest stages of new firm development. This paper provides an initial investigation into crowdfunding, identifying how it may be appropriately adopted within the start-up equity-financing context so as to contribute to the aggregated pool of capital available to new (pre-commercial) ventures. An agency theoretical perspective is adopted to investigate the necessary agency-cost control mechanisms unique to emerging crowdfunding models. Given the relational character of the investment process, the venture capitalist's perceptions of agency dynamics in the investorinvestee relationship provide an appropriate lens for analysing the likely acceptance of crowdfunding in start-up financing. Data are drawn using a qualitative methodology (convergent interviews) with Australian venture capitalists that provide early stage financing. A total of 11 venture capitalists were interviewed before convergence of common themes was reached. Results suggest that agency dynamics in crowdfunding models in start-up financing comprise a combination of investor specific factors, and ex-ante and ex-post investment factors.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_US
dc.languageEnglishen_US
dc.publisherAllied Academies Inc.en_US
dc.publisher.placeUnited Statesen_US
dc.publisher.urihttp://www.alliedacademies.org/public/journals/JournalDetails.aspx?jid=6en_US
dc.relation.ispartofstudentpublicationNen_US
dc.relation.ispartofpagefrom85en_US
dc.relation.ispartofpageto110en_US
dc.relation.ispartofissue1en_US
dc.relation.ispartofjournalAcademy of Entrepreneurship Journalen_US
dc.relation.ispartofvolume17en_US
dc.rights.retentionYen_US
dc.subject.fieldofresearchEntrepreneurshipen_US
dc.subject.fieldofresearchcode150304en_US
dc.titleExploring agency dynamics of crowdfunding in start-up capital financingen_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Marketingen_US
gro.rights.copyrightSelf-archiving of the author-manuscript version is not yet supported by this journal. Please refer to the journal link for access to the definitive, published version or contact the authors for more information.en_US
gro.date.issued2011
gro.hasfulltextNo Full Text


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