Research by Xavier Walthoff-Borm, Armin Schwienbacher and Tom Vanacker on equity crowdfunding is featured in Chicago Booth Review.
Entrepreneurs are the rock stars of the business world. We read about them constantly in the press, many people wish they could be them, and we hear that people who invest in them make a lot of money. Until recently, only the richest among us were able to invest in entrepreneurs (technically, in their companies)—but not anymore. Enter equity crowdfunding, where anyone can go online to invest in early-stage companies in exchange for ownership shares.