6533b82dfe1ef96bd1290a50

RESEARCH PRODUCT

Crowdfunding in Europe: Between Fragmentation and Harmonization

Tania ZieglerKarsten WenzlaffRotem ShneorAna Odorović

subject

business.industrymedia_common.quotation_subjectEquity (finance)HarmonizationInternational tradeService providerDirectiveVDP::Samfunnsvitenskap: 200::Økonomi: 210DebtObstaclemedia_common.cataloged_instanceBusinessEquity crowdfundingEuropean unionmedia_common

description

AbstractThe European crowdfunding market is growing rapidly, especially in continental Europe. At the same time, cross-border activities are still constrained. Fragmented markets, especially caused by differences in regulation, are an obstacle to growth of crowdfunding platforms. The European Union introduced the European Crowdfunding Service Provider (ECSP) Regime in 2019. This harmonized regime applies to crowdfunding platforms intermediating equity and debt investments between businesses and retail investors. This chapter discusses evidence on the fragmented nature of the European crowdfunding market, while presenting the ECSP directive, as a critical regulatory initiative towards harmonization in Europe, and the boosting of cross-border crowdfunding in the region.

yearjournalcountryeditionlanguage
2020-01-01
https://doi.org/10.1007/978-3-030-46309-0_16