Risk Disclosure in Crowdfunding
Published Online:25 Jan 2022https://doi.org/10.1287/isre.2021.1096
References
- (2011) Bias-corrected matching estimators for average treatment effects. J. Bus. Econom. Statist. 29(1):1–11.Crossref, Google Scholar
- (2014) Some simple economics of crowdfunding. Innovation Policy Econom. 14(1):63–97.Crossref, Google Scholar
- (2015) Signaling in equity crowdfunding. Entrepreneurship Theory Practice 39(4):955–980.Crossref, Google Scholar
- (2019) Complementarity of signals in early-stage equity investment decisions: Evidence from a randomized field experiment. Management Sci. 65(2):933–952.Link, Google Scholar
- (2017) Attracting early‐stage investors: Evidence from a randomized field experiment. J. Finance 72(2):509–538.Crossref, Google Scholar
- (1973) Perceived risk and its components: A model and empirical test. J. Marketing Res. 10(2):184–190.Crossref, Google Scholar
- (2000) On risk, convenience, and internet shopping behavior. Comm. ACM 43(11):98–105.Crossref, Google Scholar
- (2006) Does marketing products as remedies create “get out of jail free cards”? J. Consumer Res. 33(1):71–81.Crossref, Google Scholar
- (2014) Investors prefer entrepreneurial ventures pitched by attractive men. Proc. Natl. Acad. Sci. USA 111(12):4427–4431.Crossref, Google Scholar
- (2012) To review or not to review? Limited strategic thinking at the movie box office. Amer. Econom. J. Microeconomics 4(2):1–26.Crossref, Google Scholar
- (2010) Shrouded attributes and information suppression: Evidence from the field. Quart. J. Econom. 125(2):859–876.Crossref, Google Scholar
- (2021) The economics of IT and digitization: Eight questions for research. Management Inform. Systems Quart. 45(1):473–477.Google Scholar
- (2013) An empirical examination of the antecedents and consequences of contribution patterns in crowd-funded markets. Inform. Systems Res. 24(3):499–519.Link, Google Scholar
- (2014) The information content of mandatory risk factor disclosures in corporate filings. Rev. Accounting Stud. 19(1):396–455.Crossref, Google Scholar
- (2015) Does the possibility to make equity investments in crowdfunding projects crowd out reward‐based investments? Entrepreneurship Theory Practice 39(1):145–172.Crossref, Google Scholar
- (1973) Controlling bias in observational studies: A review. Sankhya Ser. A 35(4):417–446.Google Scholar
- (2006) Understanding consumer responses to product risk information. J. Marketing 70(1):79–91.Crossref, Google Scholar
- (2010) Quality disclosure and certification: Theory and practice. J. Econom. Literature 48(4):935–963.Crossref, Google Scholar
- (1988) The availability heuristic and perceived risk. J. Consumer Res. 15(1):13–23.Crossref, Google Scholar
- (2022) Words matter: The role of texts in online credit markets. J. Financial Quant. Anal. Forthcoming.Google Scholar
- (2019) A potato salad with a lemon twist: Using a supply-side shock to study the impact of opportunistic behavior on crowdfunding platforms. Management Inform. Systems Quart. 43(4):1227–1248.Google Scholar
- (2021) On the use of probabilistic uncertain rewards on crowdfunding platforms: The case of the lottery. Inform. Systems Res. 32(1):115–129.Link, Google Scholar
- (2015) The narrative advantage: Gender and the language of crowdfunding. Working paper, University of California at Berkeley.Google Scholar
- (2017) Activist choice homophily and the crowdfunding of female founders. Admin. Sci. Quart. 62(2):341–374.Crossref, Google Scholar
- (1981) The informational role of warranties and private disclosure about product quality. J. Law Econom. 24(3):461–483.Crossref, Google Scholar
- (2007) The credibility of voluntary disclosure and insider stock transactions. J. Accounting Res. 45(4):771–810.Crossref, Google Scholar
- Hayes AF (2017) Introduction to Mediation, Moderation, and Conditional Process Analysis: A Regression-Based Approach (The Guilford Press, New York).Google Scholar
- (2001) Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. J. Accounting Econom. 31(1–3):405–440.Crossref, Google Scholar
- (2021) FinTech as a game changer: Overview of research frontiers. Inform. Systems Res. 32(1):1–17.Link, Google Scholar
- (2016) Adverse incentives in crowdfunding. Management Sci. 63(3):587–608.Link, Google Scholar
- (2016) The benefits of specific risk-factor disclosures. Rev. Accounting Stud. 21(4):1005–1045.Crossref, Google Scholar
- (2010) People’s intuitions about intuitive insight and intuitive choice. J. Personality Soc. Psych. 99(2):232–247.Crossref, Google Scholar
- (1987) Unsystematic security price movements, management earnings forecasts, and revisions in consensus analyst earnings forecasts. J. Accounting Res. 25(1):90–110.Crossref, Google Scholar
- (2019) Crowdfunding and the democratization of finance: An illusion? Evidence from housing prices. Inform. Systems Res. 30(1):276–290.Link, Google Scholar
- (2019) The experts in the crowd: The role of experienced investors in a crowdfunding market. Management Inform. Systems Quart. 43(2):347–372.Crossref, Google Scholar
- (2013) Textual risk disclosures and investors’ risk perceptions. Rev. Accounting Stud. 18(4):1088–1122.Crossref, Google Scholar
- (2005) A content analysis of risk management disclosures in Canadian annual reports. Canadian J. Admin. Sci. 22(2):125–142.Crossref, Google Scholar
- (2017) Catching fire and spreading it: A glimpse into displayed entrepreneurial passion in crowdfunding campaigns. J. Appl. Psych. 102(7):1075–1090.Crossref, Google Scholar
- (2016) Home bias in online investments: An empirical study of an online crowdfunding market. Management Sci. 62(5):1393–1414.Link, Google Scholar
- (2013) Judging borrowers by the company they keep: Friendship networks and information asymmetry in online peer-to-peer lending. Management Sci. 59(1):17–35.Link, Google Scholar
- (2006) Risk reporting: A study of risk disclosures in the annual reports of UK companies. British Accounting Rev. 38(4):387–404.Crossref, Google Scholar
- (2020) Economic consequences of risk disclosures: Evidence from crowdfunding. Accounting Rev. 95(4):331–363.Crossref, Google Scholar
- (2000) The impact of mandatory disclosure laws on product choices: An analysis of the salad dressing market. J. Law Econom. 43(2):651–678.Crossref, Google Scholar
- (2004) How do investors assess the credibility of management disclosures? Accounting Horizons 18(3):185–196.Crossref, Google Scholar
- (1981) Good news and bad news: Representation theorems and applications. Bell J. Econom. 12(2):380–391.Crossref, Google Scholar
- (2014) After the campaign: Outcomes of crowdfunding. University of North Carolina at Chapel Hill Kenan-Flagler Research Paper 2376997.Google Scholar
- (2001) The effect of novel attributes on product evaluation. J. Consumer Res. 28(3):462–472.Google Scholar
- (2015) The development and psychometric properties of LIWC2015. Technical Report.Google Scholar
- (2020) Reward vs. altruistic motivations in reward-based crowdfunding. Internat. J. Electronic Commerce 24(2):159–183.Crossref, Google Scholar
- (1985) A theory of credibility. Rev. Econom. Stud. 52(4):557–573.Crossref, Google Scholar
- Swaminathan V (2003) The impact of recommendation agents on consumer evaluation and choice: The moderating role of category risk, product complexity, and consumer knowledge. J. Consumer Psych. 13(1–2):93–101.Google Scholar
- (2018) Socially nudged: A quasi-experimental study of friends’ social influence in online product ratings. Inform. Systems Res. 29(3):641–655.Link, Google Scholar
- (2013) Impact of Wikipedia on market information environment: Evidence on management disclosure and investor reaction. Management Inform. Systems Quart. 37(4):1043–1068.Crossref, Google Scholar
- (2014) Risk information seeking and processing model: A meta-analysis. J. Comm. 64(1):20–41.Crossref, Google Scholar
- (2017) The colorblind crowd? Founder race and performance in crowdfunding. Management Sci. 64(7):3269–3287.Link, Google Scholar
- (2015) How does the internet affect the financial market? An equilibrium model of internet facilitated feedback trading. Management Inform. Systems Quart. 39(1):17–38.Crossref, Google Scholar
- (2012) Does online community participation foster risky financial behavior? J. Marketing Res. 49(3):394–407.Crossref, Google Scholar
- (2015) Playing both sides of the market: Success and reciprocity on crowdfunding platforms. Preprint, submitted August 1, 2013, https://dx.doi.org/10.2139/ssrn.2304101.Google Scholar

