FAU-CMF-Finec. COVID-19 and Entrepreneurial Processes in U.S. Equity Crowdfunding

Robert Reardon, PhD Candidate in Finance, Florida Atlantic University: 0:22 “I knew that I liked anything that deals with the individual investor or the common investor“ 1:45 What is Equity Crowdfunding? 4:04 Data: as part of the equity crowdfunding regulation, SEC collects and reports on all U.S. regulation crowdfunding offerings 5:05 Number of new Campaigns U.S. 5:50 U.S. State Equity Crowdfunding Heat Map 6:23 New York vs. Florida 9:09 Theory 11:30 Hypotheses: Tolerance for illiquidity, long-termism, and risk, alongside large and growing populations, are critical inputs into the entrepreneurial process to engage and give rise to success with equity crowdfunding 12:34 Results: difference in means (pre-COVID-19 & post-COVID-19) 14:04 Results: regression 15:35 Number of Campaigns (Top 10 vs Bottom 10 HPI) 15:55 Conclusion: housing prices are a strong predictor of regional and time series differences and a number of crowdfunding opportunities and success with crowdfunding in terms of the capital raised 16:08