Success in Equity Crowdfunding: A Quantitative Study of What Drives Equity Crowdfunding Campaign Success in Norway

This Master’s thesis studies what drives success in Norwegian equity crowdfunding campaigns. Norway is an interesting context for studying equity-based crowdfunding because of limited access to venture capital for start-ups additionally to heavy reliance on state support. The recent boom in equity crowdfunding in Norway makes this study relevant. A linear regression analysis is based on 192 observations collected from the two existing equity crowdfunding platforms in Norway; Folkeinvest and Dealflow. The thesis highlights variables supplemented by the relevant literature within success factors in crowdfunding and presents 14 hypotheses. The most prominent results of the study is that a long…