Please find attached the call for papers of the 2017 scientific meeting of the AiIG (Associazione Italiana Ingegneria Gestionale), which will be held in Bari, Italy, on 19-20 October 2017.
We are organizing a special track within the conference, called “The digital transformation of the entrepreneurial finance landscape”. The track aims at collecting and discussing original papers that shed light on recent issues in the entrepreneurial finance literature, especially considering how the digital transformation brought change to the entrepreneurial finance ecosystem (fintech, crowdfunding…).
The deadline for submission of extended articles or full papers is: June the 19th, 2017.
Contributions should be sent to rsa_aiig2017. Please remember to specify that you are submitting to the special track number 9!
Further information on the special track can be found below. Information on the conference and venue is available at: http://www.convegnoaiig.it/2017/en/
We look forward to seeing you in Bari!
Massimiliano Guerini (Politecnico di Milano
Anita Quas (emlyon business school)
Elisa Ughetto (Politecnico di Torino)
Silvio Vismara (Università di Bergamo)
Special track #9: The digital transformation of the entrepreneurial finance landscape
Over the past decade, technological innovation has greatly affected the financial services industry, and further innovation and disruption are occurring every day.
New digital innovations in the financial sector (FinTech) are also changing the entrepreneurial finance landscape. While venture capitalists (VCs) and business angels (BAs) remain prominent suppliers of entrepreneurial finance, new technologies has expanded the financing options for start-ups and prospective entrepreneurs. New forms of disintermediated sources of finance were developed, such as reward-based crowdfunding, peer-to-peer business lending, equity crowdfunding or marketplaces that allow individuals who source investment opportunities to join other investors in syndicated deals. Furthermore, distributer ledger technologies (e.g. Blockchain) hold the potential to change dramatically the business models of existing players in the entrepreneurial finance landscape, including VCs and BAs, by providing new ways to assess risk and reduce monitoring costs. Moreover, they allow for easier participation of non-professional investors.
Governments around the world are increasingly considering these new technologies, players and instruments as fundamental mechanisms to alleviate the financing constraints of start-ups, as these firms are an important engine of economic growth. In the United States, Jumpstart Our Business Startups (JOBS) Act in 2012, was passed to stimulate economic growth by improving access to the public capital markets. Amongst others (with the CROWDFUND Act), the JOBS Act defines the framework for crowdfunding in the US. Crowdfunding is concerned with raising funds (and advice) from a large pool of backers (crowd) collected online by means of a web platform. These platforms allow unsophisticated investors to invest directly in young innovative firms. This means that crowdfunding platforms will need to cope with collective-action problems, since crowd-investors have neither the ability nor the incentive, due to small investment sizes, to devote substantial resources to due diligence.
All these trends raise questions about the ultimate impact of these new technologies on financial markets and entrepreneurship, and on how regulation can cope with them.
The track aims at collecting and discussing original papers that shed light on these recent issues in the entrepreneurial finance literature, especially considering how the digital transformation brought change to the entrepreneurial finance ecosystem. Possible topics include, but are not limited to:
· What are the determinants of the emergence of the FinTech revolution?
· How FinTech is transforming start-up financing?
· How are Fintech startups different in terms of fundraising process?
· What is the role of crowdfunding in the entrepreneurial finance ecosystem? For instance, what is the post-investment performance of crowdfunding campaigns?
· What kind of ecosystem is required in order to make crowdfunding flourish?
· What is the scope of crowdfunding activity and which are the different business models?
· What role do social capital and the positioning of investors into a network play in driving the selection of which ventures to finance?
· How do angels and BAs networks engage with other forms of financing? Are the inter-relationships between VCs and BAs characterized by complementarity or substitutability?
· How is the digital transformation influencing VC and BA investments? Are they becoming more global?
· What is the role of cultural and geographical distance in this new entrepreneurial finance framework?
· What is the impact on the digital transformation on the regional equity gap?
· What is the interplay between traditional entrepreneurial finance players (VC and BA) and crowdfunding? Are they substitute or complements?
· Who is using such instruments and who is investing in it?
· What is the role of the policy maker in the digital transformation of the entrepreneurial finance landscape?
· Which types of regulatory framework are more conducive to success?