https://m2.mtmt.hu/ hun 2026-10-24 05:21 JournalArticle 34505448 VALIDATED true 0 false 2026-05-23T12:11:39.471+0000 2026-02-02T10:39:55.765+0000 2024-01-16T08:14:29.128+0000 true 10070381 Demecs Éva /api/admin/10070381 Admin true 2026-04-13T06:49:18.175+0000 2026-04-13T06:49:18.175+0000 2026-02-02T10:39:55.773+0000 true 10094427 Nyitrai Erzsébet /api/admin/10094427 Admin false true false true 24 24 /api/publicationtype/24 PublicationType 1 true 24 JournalArticle true 10000059 Article true 24 24 /api/publicationtype/24 PublicationType 1 true 24 JournalArticle /api/subtype/10000059 Szakcikk SubType 101 true 10000059 true 1 /api/category/1 Category true 1 Kivilo, Samela Factors influencing US equity-crowdfunded companies' ability to survive true true /api/journal/10012272 REVIEWED true false 10012272 false 10012272 true 1369-1066 1464-5343 Journal FOREIGN 27 3 375 402 375 28 2025 This study investigates the factors being associated with equity-crowdfunded companies' likelihood of survival in the US. We focus on factors observable to crowdinvestors, either being set by entrepreneurs (signals) or being non-alterable (determinants), at least in the short run. Such observable factors at the time of crowdinvesting include company and campaign characteristics, growth potential, and company riskiness. Cox proportional hazards model is used on a sample of 429 US equity-crowdfunded companies. We find that 89% of the companies survived for a minimum of three years after a successfully funded initial equity offering. This survival rate is around ten percentage points higher than in Europe. We document that equity retention, funding goal, and current year revenue estimate are associated with the likelihood of building an enduring business. Higher proportion of equity offered to crowdinvestors signals lower investment quality and thus lower probability of survival. In contrast, companies with higher funding target and current year revenue have better prospects for survival after a successful equity offering. The funding goal affects the probability of survival through the capital intensity channel; if a company in a capital intense industry has been successfully funded, the threat from the competitors is lower given the high entry barriers. 2024 true true true false true false CLOSED 2026-05-23 false 3 0 3 3 0 3 3 3 0 3 3 3 3 3 0 0 3 3 3 3 0 0 0 Folyóiratcikk Journal Article 24 3 Könyvrészlet Chapter in Book 25 0 Könyv Book 23 0 Egyéb konferenciaközlemény Conference paper 31 0 Egyéb konferenciakötet Conference proceedings 32 0 Oltalmi formák Protection forms 26 0 Disszertáció Thesis 28 0 Egyéb Miscellaneous 29 0 Alkotás Achievement 22 0 Kutatási adat Research data 33 0 Folyóiratcikk Journal Article 24 0 0 0 Könyvrészlet Chapter in Book 25 0 0 0 Könyv Book 23 0 0 0 Egyéb konferenciaközlemény Conference paper 31 0 0 0 Egyéb konferenciakötet Conference proceedings 32 0 0 0 Oltalmi formák Protection forms 26 0 0 0 Disszertáció Thesis 28 0 0 0 Egyéb Miscellaneous 29 0 0 0 Alkotás Achievement 22 0 0 0 Kutatási adat Research data 33 0 0 0 2025 0 2 2 2 2 2026 0 1 1 1 1 Q2 B nemzetközi false false false false 2024-04-15T07:15:17.118+0000 Befektetések és Vállalati Pénzügyek Tanszék (BCE / PSZGJI) 1 9 1 3 0 true Language 10002 /api/language/10002 Angol English true 2 true PersonAuthorship 113890443 /api/authorship/113890443 1 0.33333334 true false false Kivilo Samela true false false AuthorshipType 1 /api/authorshiptype/1 0 true 0 true false true PersonAuthorship 113890444 /api/authorship/113890444 2 0.33333334 false false false Tesliuks Antons true false false AuthorshipType 1 /api/authorshiptype/1 0 true 0 true false true PersonAuthorship 113890445 /api/authorship/113890445 3 0.333 false true true Author 10013373 /api/author/10013373 Lublóy Ágnes true 10013373 true Lubloy Agnes true false false AuthorshipType 1 /api/authorshiptype/1 0 true 0 true false true PublicationIdentifier 25296120 /api/publicationidentifier/25296120 PlainSource 6 /api/publicationsource/6 PublicationSourceType 10001 /api/publicationsourcetype/10001 true true true DOI DOI https://doi.org/@@@ true true 6 true CLOSED IDENTICAL 10.1080/13691066.2023.2300144 https://doi.org/10.1080/13691066.2023.2300144 false true PublicationIdentifier 25296119 /api/publicationidentifier/25296119 PlainSource 1 /api/publicationsource/1 PublicationSourceType 10003 /api/publicationsourcetype/10003 false true true WoS WoS https://www.webofscience.com/wos/woscc/full-record/@@@ true true 1 true IDENTICAL 001136151100001 https://www.webofscience.com/wos/woscc/full-record/001136151100001 false true PublicationIdentifier 25296121 /api/publicationidentifier/25296121 PlainSource 3 /api/publicationsource/3 PublicationSourceType 10003 /api/publicationsourcetype/10003 false true true Scopus Scopus http://www.scopus.com/record/display.url?origin=inward&eid=2-s2.0-@@@ true true 3 true IDENTICAL 85181446695 http://www.scopus.com/record/display.url?origin=inward&eid=2-s2.0-85181446695 false true Classification 12776 /api/classification/12776 true true Keyword 1168 /api/keyword/1168 true 1168 true Keyword 1037533 /api/keyword/1037533 true 1037533 true Keyword 2087738 /api/keyword/2087738 true true Keyword 2156222 /api/keyword/2156222 true true MtaRating 512751 /api/mtarating/512751 RatingType 10012 /api/ratingtype/10012 GMB Institute 19066 /api/institute/19066 0 false true false Gazdaságtudományi Doktori Minősítő Bizottság Committee on Economics true 19066 true true true B nemzetközi true 12751 true SjrRating 11562286 /api/sjrrating/11562286 125 0.49 journal RatingType 10002 /api/ratingtype/10002 sjr true true ClassificationExternal 1403 /api/classificationexternal/1403 true 1403 true Q2 DIRECT true true /api/publication/34505448 <div class="JournalArticle Publication long-list"> <div class="authors"> <img title="Forrásközlemény" style="float: left" src="/frontend/resources/grid/publication-core-icon.png"> <div class="autype autype0"> <span class="author-name" >Kivilo Samela </span> ;&nbsp;&nbsp;&nbsp; <span class="author-name" >Tesliuks Antons </span> ;&nbsp;&nbsp;&nbsp; <span class="author-name" mtid="10013373"><a href="/gui2/?type=authors&mode=browse&sel=10013373" target="_blank">Lubloy Agnes ✉ (<span class="authorship-author-name">Lublóy Ágnes</span> <span class="authorAux-mtmt"> Pénzügy</span>) </a> </span> <span class="author-affil"><span title="Budapesti Corvinus Egyetem">BCE</span>/<span title="Pénzügyi, Számviteli és Gazdasági Jogi Intézet">PSZGJI</span>/Befektetések és Vállalati Pénzügyek Tanszék</span> </div> </div> <div class="title"><a href="/gui2/?mode=browse&params=publication;34505448" target="_blank">Factors influencing US equity-crowdfunded companies' ability to survive</a></div> <div> <span class="journal-title">VENTURE CAPITAL</span> <span class="journal-issn">(<a target="_blank" href="https://portal.issn.org/resource/ISSN/1369-1066">1369-1066</a> <a target="_blank" href="https://portal.issn.org/resource/ISSN/1464-5343">1464-5343</a>)</span>: <span class="journal-volume">27</span> <span class="journal-issue">3</span> <span class="page"> pp 375-402 </span> <span class="year">(2025)</span> </div> <div class="pub-footer"> <span class="language" xmlns="http://www.w3.org/1999/html">Nyelv: Angol | </span> <span class="identifiers"> <span class="id identifier oa_CLOSED" title=" Zárt "> <a style="color:blue" title="10.1080/13691066.2023.2300144" target="_blank" href="https://doi.org/10.1080/13691066.2023.2300144"> DOI </a> </span> <span class="id identifier oa_none" title="none"> <a style="color:blue" title="001136151100001" target="_blank" href="https://www.webofscience.com/wos/woscc/full-record/001136151100001"> WoS </a> </span> <span class="id identifier oa_none" title="none"> <a style="color:blue" title="85181446695" target="_blank" href="http://www.scopus.com/record/display.url?origin=inward&eid=2-s2.0-85181446695"> Scopus </a> </span> </span> <OnlyViewableByAuthor><div class="ratings"> <div class="journal-subject">Folyóirat szakterülete: Scopus - Business and International Management&nbsp;&nbsp;&nbsp;SJR indikátor:&nbsp;Q2</div> <div class="journal-subject">Folyóirat szakterülete: Scopus - Finance&nbsp;&nbsp;&nbsp;SJR indikátor:&nbsp;Q2</div> <div class="journal-subject">Gazdaságtudományi Doktori Minősítő Bizottság IXGJO GMB [1901-]&nbsp;&nbsp;&nbsp;B nemzetközi</div> </div></OnlyViewableByAuthor> <div class="publication-citation" style="margin-left: 0.5cm;"> <span title="Nyilvános idézőközlemények összesen, említések nélkül" class="citingPub-count">Nyilvános idéző összesen: 3</span> | Független: 3 | Függő: 0 | Nem jelölt: 0 | WoS jelölt: 3 | WoS/Scopus jelölt:&nbsp;3 | DOI jelölt:&nbsp;3 </div> <div class="mtid"><span class="long-pub-mtid">Közlemény: 34505448</span> | <span class="status-data status-VALIDATED"> Egyeztetett </span> Forrás | <span class="type-subtype">Folyóiratcikk ( Szakcikk ) </span> | <span class="pub-category">Tudományos</span> | <span class="publication-sourceOfData">kézi felvitel</span> </div> <div class="lastModified">Utolsó módosítás: 2026.02.02. 11:39 Nyitrai Erzsébet (BCE admin 5) </div> </div></div>