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- Member of: Theses and Dissertations
Description
In the modern digital age, new methods of raising capital for entrepreneurs are being explored and developed at a rapid rate. This is in part due to new legislation aimed at democratizing the funding process for startup-sized businesses, and also due to the growing mistrust in the big banks following the recent financial crisis of 2008. Today, many entrepreneurs are turning to the Internet and crowdsourcing in order to raise the funds they need to get their business ideas off the ground. This trend is more commonly known as crowdfunding. Crowdfunding is not as narrow of an industry as some may think. It goes much deeper than just the commonly known platforms such as Kickstarter or Indiegogo. There are four different crowdfunding methods that exist today, as well as hundreds of websites known as crowdfunding platforms created in order to facilitate these methods as a third party intermediary. My thesis aims to research, break down, study, and compare the various methods of crowdfunding. In addition, I explore the modern uses of the more traditional methods of raising capital for entrepreneurs such as angel investors, venture capital, bank/Small Business Association loans, and bootstrapping. This research includes both primary and secondary research. For my primary research, I interviewed three subject matter experts on the capital markets, and conducted two case studies regarding crowdfunding campaigns. In my secondary research, I used credible published studies, blogs and articles with expert testimonials, and other trustworthy resources such as encyclopedias and professional reports. In the end, I compare and contrast the various methods of raising capital explored throughout the paper, and provide my recommendations regarding each method for entrepreneurs interested in raising funds for their next venture. We live in an exciting time, and there are a lot of interesting new developments emerging as the capital markets continue to integrate with the modern digital age. I hope this thesis will help entrepreneurs, investors, and anyone else who may have interest in the modern capital markets or fundraising develop a better understanding of new trends in raising capital today.
ContributorsCohan, Taylor (Author) / Montoya, Detra (Thesis director) / Schlacter, John (Committee member) / Barrett, The Honors College (Contributor)
Created2015-12
Description
Have new fraud and earnings manipulation detecting tools improved confidence in capital markets? To answer this question, I will provide a survey of tools currently used to detect fraud and earnings manipulation, discuss the effects of fraud and earnings manipulation, and look at changes in historical records of consumer confidence and investment returns as a test to our question.
ContributorsCool, Grady K (Author) / Byrne, Jared (Thesis director) / Annis, Rachel (Committee member) / Department of Finance (Contributor) / Department of Economics (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05
Description
Companies commonly offer temporary price discounts to stimulate product demand. Despite the considerable impact that such promotional strategies have on performance, firms disclose limited information regarding the extent to which they provide discounts. In this study, I evaluate whether market participants understand the implications of current period couponing activity – a special case of price discounts – for future performance. Using a sample of public manufacturers, I use transaction-level data to construct a firm-level measure of couponing activity and find that earnings are less persistent when generated with heavy reliance on couponing. Further, greater couponing in the current quarter increases analyst optimism for future periods, leading to an increased likelihood that the firm misses analyst expectations in the subsequent period (which results in predictably negative earnings announcement returns). Collectively, my findings highlight how market participants’ forecasting and trading decisions can benefit from information regarding price discounting.
ContributorsSnow, Mason C. (Author) / Call, Andrew C (Thesis advisor) / Lamoreaux, Phillip T (Committee member) / White, Roger M (Committee member) / Arizona State University (Publisher)
Created2022
Description
Concero Partners is committed to pioneering innovative capital solutions in emerging markets, with a strategic focus on Latin America. By leveraging a state-of-the-art online brokerage platform, Concero Partners aims to democratize access to global capital for small to mid-sized businesses in Chile and Brazil, enhancing financial transparency and fostering economic growth. At the heart of our mission is bridging the capital accessibility gap and simplifying transactions by collaborating with regional audit firms to standardize financial reporting, enhance market transparency, and make businesses more attractive to global investors. Beyond facilitating financial transactions, our broader goal is to stimulate economic growth by creating a more interconnected, efficient, and robust M&A ecosystem.
ContributorsHarmon, William (Author) / Freiheit, William (Co-author) / Dalton, Ryan (Co-author) / Seykora, Colton (Co-author) / Byrne, Jared (Thesis director) / Thomasson, Anna (Committee member) / Barrett, The Honors College (Contributor) / Department of Finance (Contributor) / School of Accountancy (Contributor)
Created2024-05