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Giuseppe Modaffari

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Sep 2026

Trust Signals: Professional Investors’ Influence in Equity Crowdfunding Decisions

Purpose: This paper examines whether professional investors function as credible informational signals in equity crowdfunding (ECF) campaigns, and investigates the mechanisms through which their participation influences campaign success. Drawing on signaling theory, the study tests both the direct association between p...

Giuseppe Modaffari, Paola Paoloni, Silvia Ievolella · 0 citations

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