The drivers, operation mechanism and performances of co-investment activities of equity crowdfunding
Prior to pursuing their PhD at Loughborough University London, Ye worked at Renmin University of China as a Teaching Assistant and BMW China as a HR supervisor.
Ye completed her first degree, Bachelor of Economics in Finance at Liaoning University in China. She has strong knowledge in Economics, Finance and Management and her academic result ranked amongst the top 3% in her department. Ye obtained her Master's degree from London School of Economics and Political Science (LSE) in Management, Organisations and Governance.
PhD research description
It has been broadly recognised that start-ups face difficulties in attracting external finance such as bank loans or equity capital. Over the past 10 years, crowdfunding has become a valuable alternative means of entrepreneurial finance through an open call on the Internet. As one of four types of crowdfunding, equity crowdfunding offers financial securities to investors. In recent years, a new financing form of online syndicate (e.g. AngelList, SyndicateRoom) emerged as an innovative way of equity crowdfunding to overcome the problem of information asymmetry facing by entrepreneurs and investors. Ye's research intends to exam the investment activities of equity crowdfunding syndicate in terms of the drivers, operation mechanism and performance.
Her proposed research questions are as follows:
1. What are the drivers of equity crowdfunding syndicate?
2. What is the operation mechanism and how the mechanism could reduce agency problem between start-ups and individual investors?
3. What are the determinants of performance of equity crowdfunding syndicate campaign? What is the impact of the syndicate on start-ups’ performance?