Skip to main content
Fachgebiete
Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko
DE
EN
Bücher
Zeitschriften
Weitere Formate
Webinare Technik
Webinare Wirtschaft
Kongresse
Veranstaltungskalender
Podcasts
Awards
Jetzt Einzelzugang starten
Zugang für Unternehmen beantragen
Erweiterte Suche
Anmelden
nach oben

Tipp

Weitere Kapitel dieses Buchs durch Wischen aufrufen

Erschienen in:
Introduction Kapitel lesen Erstes Kapitel lesen

2017 | OriginalPaper | Buchkapitel

7. Academic Research

verfasst von : Gregor Dorfleitner, Lars Hornuf, Matthias Schmitt, Martina Weber

Erschienen in: FinTech in Germany

Verlag: Springer International Publishing

Einloggen, um Zugang zu erhalten

Abstract

In order to assess the significance of previous findings in this book regarding the development of the market size, drivers of growth, and future projections of the German FinTech market in the academic context, the following section will provide a brief overview of the national and international academic literature. This overview will survey the relevant research pertaining to the donation and reward-based crowdfunding, crowdinvesting, crowdlending, and social trading subsegments. Particular attention will be paid to studies that furnish data pertaining to German FinTech businesses.

Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt 90 Tage mit der neuen Mini-Lizenz testen!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe



 


Jetzt 90 Tage mit der neuen Mini-Lizenz testen!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt 90 Tage mit der neuen Mini-Lizenz testen!

Jetzt informieren
Vorheriges Kapitel Forecasts for the FinTech Market in Germany
Nächstes Kapitel Summary
Fußnoten
1
Since most of the findings we report are based on empirical articles that Lars Hornuf and coauthors have conducted as part of this research project, he would like to acknowledge the support of the German Research Foundation (Deutsche Forschungsgemeinschaft, DFG) under the grant number HO 5296/1-1.
 
Literatur
Agrawal, A., Catalini, C., & Goldfarb, A. (2015). Crowdfunding: Geography, social networks, and the timing of investment decisions. Journal of Economics and Management Strategy, 24, 253–274. CrossRef
Barasinska, N. (2011). Does gender affect investors’ appetite for risk? Evidence from peer-to-peer lending (Discussion Papers 1125). DIW Berlin: German Institute for Economic Research.
Barasinska, N., & Schäfer, D. (2014). Is crowdfunding different? Evidence on the relation between gender and funding success from a German peer-to-peer lending platform. German Economic Review, 15(4), 436–452.
Bernstein, S., Korteweg, A., & Laws, K. (2016, forthcoming). Attracting early stage investors: Evidence from a randomized field experiment. The Journal of Finance.
Blaseg, D., & Koetter, M. (2016). Crowdfunding and bank stress. In P. Tasca, T. Aste, L. Pelizzon, & N. Perons (Eds.), Banking beyond banks and money (pp. 17–54). Switzerland: Springer International Publishing. CrossRef
Block, J., Hornuf, L., & Moritz, A. (2016). Which updates during an equity crowdfunding campaign increase crowd participation? (Research Papers in Economics, No. 6/16).
Bøg, M., Harmgart, H., Huck, S., & Jeffers, A. M. (2012). Fundraising on the internet. Kyklos, 65(1), 18–30. CrossRef
Böhme, R., & Pötzsch, S. (2010). Social lending aus der Perspektive des Datenschutzes. In: Freiling, F. (Ed.), SICHERHEIT 2010—Sicherheit, Schutz und Zuverlässigkeit (Vol. LNI 170, pp. 317–328). Bonner Köllen Verlag.
Böhme, R., & Pötzsch, S. (2011). Collective exposure: Peer effect in voluntary disclosure of personal data. In: Danezis, G. (Ed.), Financial Cryptography and Data Security—15th International Conference (Vol. 7035, pp. 1–15). Heidelberg: Springer.
Burtch, G., Ghose, A., & Wattal, S. (2015). The hidden cost of accommodating crowdfunder privacy preferences: A randomized field experiment. Management Science, 61(5), 949–962. CrossRef
Carhart, M. (1997). On persistence in mutual fund performance. The Journal of Finance, 52(1), 57–82. CrossRef
Colombo, M. G., Franzoni, C., & Rossi-Lamastra, C. (2015). Internal social capital and the attraction of early contribu-tions in crowdfunding projects. Entrepreneurship, Theory and Practice, 39(1), 75–100. CrossRef
Cumming, D., Hornuf, L., Karami, M., & Schweizer, D. (2016). Disentangling crowdfunding from fraudfunding (SSRN Working Paper Nr. 2828919).
Diamond, D. W. (1984). Financial intermediation and delegated monitoring. The Review of Economic Studies, 51(3), 393–414. CrossRef
Doering, P., Neumann, S., & Paul, S. (2015). A primer on social trading networks—Institutional aspects and empirical evidence. Presented at EFMA annual meetings 2015.
Dorfleitner, G., Priberny, C., Schuster, S., Stoiber, J., Weber, M., & Kammler, J. (2016a). Description-text related soft information in peer-to-peer lending—Evidence from two leading European platforms. Journal of Banking and Finance, 64, 169–187. CrossRef
Dorfleitner, G., Dietrich, N., Fischer, L., Lung, C., Stang, N., & Willmertinger, P. (2016b). To follow or not to follow? Eine empirische Analyse der Renditen von Akteuren auf Social-Trading-Plattformen. Bonn: 2. Platz des Postbank Finance Awards 2016.
Duarte, J., Siegel, S., & Young, L. (2012). Trust and credit: The role of appearance in peer-to-peer lending. Review of Financial Studies, 25(8), 2455–2484. CrossRef
Faßbender, D. (2011). P2P-Kreditmärkte als Finanzintermediäre. München: GRIN Verlag.
Freedman, S., & Jin, G. Z. (2008). Do social networks solve information problems for peer-to-peer lending? Evidence from Prosper.com (SSRN Working Paper Nr. 1304138).
Herzenstein, M., Sonenshein, S., & Dholakia, U. M. (2011a). Tell me a good story and i may lend you money: The role of narratives in peer-to-peer lending decisions. Journal of Marketing Research, 48, 138–149. CrossRef
Herzenstein, M., Dholakia, U. M., & Andrews, R. (2011b). Strategic herding behavior in peer-to-peer loan auctions. Journal of Interactive Marketing, 25, 27–36. CrossRef
Hornuf, L., & Neuenkirch, N. (2016, forthcoming). Pricing shares in equity crowdfunding. Small Business Economics
Hornuf, L., & Schmitt, M. (2016a). Success and failure in equity crowdfunding. CESifo DICE Report, 14(2), 16–22.
Hornuf, L., & Schmitt, M. (2016b). Is there a local bias in equity crowdfunding? The impact of investor types and portal design (Max Planck Institute for Innovation and Competition Research Paper, Nr. 16–07).
Hornuf, L., & Schwienbacher, A. (2014). The emergence of crowdinvesting in Europe (Munich Discussion Paper Nr. 2014–43).
Hornuf, L., & Schwienbacher, A. (2015). Funding dynamics in crowdinvesting (Research Papers in Economics, Nr. 9/15).
Hornuf, L., & Schwienbacher, A. (2016a, forthcoming). Should securities regulation promote equity crowdfunding? Small Business Economics.
Hornuf, L., & Schwienbacher, A. (2016b). Crowdinvesting—Angel investing for the masses? In C. Manson & H. Landström (Eds.), Handbook of research on venture capital: Vol. 3 (pp. 381–397). Cheltenham: Edward Elgar Publishing.
Iyer, R., Khwaja, A. I., Luttmer, E. F. P., & Shue, K. (2016). Screening peers softly: Inferring the quality of small borrowers. Management Science, 62(6), 1554–1577. CrossRef
Klöhn, L., & Hornuf, L. (2012). Crowdinvesting in Deutschland—Markt, Rechtslage und Regulierungsperspektiven. Zeitschrift für Bankenrecht und Bankwirtschaft, 24(4), 237–266.
Klöhn, L., & Hornuf, L. (2015). Die Regelung des Crowdfunding im RegE des Kleinanlegerschutzgesetzes—lnhalt, Auswirkungen, Kritik, Änderungsvorschläge. Der Betrieb, 01-02, 47–53.
Klöhn, L., Hornuf, L., & Schilling, T. (2016a). Crowdinvesting-Verträge—Inhalt, Entwicklung und praktische Bedeutung. Zeitschrift für Bankrecht und Bankwirtschaft, 27(3), 142–178.
Klöhn, L., Hornuf, L., & Schilling, T. (2016b). The regulation of crowdfunding in the German small investor protection act. European Company Law, 13(2), 56–66.
Klöhn, L., Hornuf, L., & Schilling, T. (2016c). Financial contracting in crowdinvesting—Lessons from the German Market. (SSRN Working Paper Nr. 2839041).
Kuppuswamy, V., & Bayus, B. L. (2017). Does my contribution to your crowfunding project matter? Journal of Business Venturing, 32(2017), 72–89. CrossRef
Lin, M., Prabhala, N. R., & Viswanathan, S. (2013). Judging borrowers by the company they keep: Friendship networks and information asymmetry in online peer-to-peer lending. Management Science, 59(1), 17–35. CrossRef
Lin, M., & Viswanathan, S. (2016). Home bias in online investments: An empirical study of an online crowdfunding market. Management Science, 62(5), 1393–1414. CrossRef
Liu, Y.-Y., Nacher, J. C., Ochiai, T., Martino, M., & Altshuler, Y. (2014). Prospect theory for online financial trading. PLoS ONE, 9(10), 1–7.
Mollick, E. R. (2014). The dynamics of crowdfunding: An exploratory study. Journal of Business Venturing, 29(1), 1–16. CrossRef
Mollick, E., & Nanda, R. (2016). Wisdom or madness? Comparing crowds with expert evaluation in funding the arts. Management Science, 62(6), 1533–1553. CrossRef
Neumann, S. (2014). Empirical essays on regulatory and technological impacts on banking and finance. Ph.D. thesis, Ruhr-Universität Bochum.
Pan, W., Altshuler, Y., & Pentland, A. (2012). Decoding social influence and the wisdom of the crowd in financial trading network. In: 2012 ASE/IEEE International Conference on Privacy, Security, Risk and Trust and 2012 ASE/IEEE International Confernece on Social Computing (SocialCom/PASSAT 2012) (pp. 203–209).
Pope, D. G., & Sydnor, J. R. (2011). What’s in a picture? Evidence of discrimination from Prosper.com. Journal of Human Resources, 46(1), 53–92. CrossRef
Ravina, E. (2012). Love & loans: The effect of beauty and personal characteristics in credit markets (SSRN Working Paper 1101647).
Saxton, G. D., & Wang, L. (2014). The social network effect: The determinants of giving through social media. Nonprofit and Voluntary Sector Quarterly, 43, 850–868. CrossRef
Serrano-Cinca, C., Gutiérrez-Nieto, B., & López-Palacios, L. (2015). Determinants of default in P2P lending. PLoS ONE, 10(10), e0139427. CrossRef
Signori, A., & Vismara, S. (2016). Returns on investments in equity crowdfunding (SSRN Working Paper Nr. 2765488).
Stiglitz, J. E., & Weiss, A. (1981). Credit rationing in markets with imperfect information. The American Economic Review, 71(3), 393–410.
Vismara, S. (2015). Equity retention and social network theory in equity crowdfunding (SSRN Working Paper Nr. 2654325).
Vulkan, N., Åstebro, T., & Sierra, M. F. (2016). Equity crowdfunding: A new phenomena. Journal of Business Venturing Insights, 5, 37–49. CrossRef
Wei, Z., & Lin, M. (2016, forthcoming). Market mechanisms in online peer-to-peer lending. Management Science
Weiss, G. N. F., Pelger, K., & Horsch, A. (2010). Mitigating adverse selection in P2P lending—Empirical evidence from Prosper.com (SSRN Working Paper 1650774).
Metadaten
Titel
Academic Research
verfasst von
Gregor Dorfleitner
Lars Hornuf
Matthias Schmitt
Martina Weber
Copyright-Jahr
2017
Buch
FinTech in Germany

Print ISBN: 978-3-319-54665-0

Electronic ISBN: 978-3-319-54666-7

Copyright-Jahr: 2017

DOI
https://doi.org/10.1007/978-3-319-54666-7_7

Premium Partner

Pluta
    Bildnachweise