When policy makers want to protect investors in equity crowdfunding: Does it have regional implications?
研究了英国股权众筹市场一项仅对非认证投资者设投资上限的保护政策，发现该政策可能增加区域弱势企业融资机会，但这类企业成功发行股权的概率仍较低。
This study investigates whether a policy that aims to protect investors in young unlisted companies benefits regional outsiders defined as those ventures located in regions that are usually less likely to receive equity finance . It focuses on the UK equity crowdfunding market in which a policy was introduced that imposed investment caps on unaccredited investors only, in the name of protection. The findings of this study reveal that this type of regulation may increase the likelihood of regionally disadvantaged ventures at raising capital. Despite this increase, they are still less likely to issue equity successfully.