The program for the RCFS Winter Conference is available on the conference website. The conference will take place February 18-20, 2022, at the Margaritaville Hollywood Beach Resort in Florida.
The February issue of RCFS has published!
The Editor’s Choice paper is:
“The Wisdom of Crowds in FinTech: Evidence from Initial Coin Offerings”
Jongsub Lee, Tao Li, Donghwa Shin
Angel investors, who invest their personal wealth, are more common than venture-capital (VC) investors in seed-stage startups. Yet, we know little about how these angel investors – with a more limited network than VCs – develop their financial networks. In a forthcoming RCFS paper, “Seed-Stage Success and Growth of Angel Co-investment Networks,” Buvaneshwaran Venugopal and Vijay Yerramilli show that co-investment is widespread among angel investors: Analyzing hand-collected data from the largest crowd-sourcing database on startup investors and from the leading online fund-raising platform for startups, the authors study how individual angel investors grow their co-investment networks. They find that seed-level “reputation,” due to successfully leading a seed-stage startup to series-A stage, increases the quantity and quality of co-investment connections of new angel investors. Success also leads to more deal flow, across various geographies and industries, and follow-on financing from VC firms. Overall, this paper provides new evidence on how individual angel investors leverage seed-level success to improve their network connectedness.
Spotlight by Isil Erel
Photos courtesy of Buvaneshwaran Venugopal and Vijay Yerramilli
“The Disparate Effect of Nudges on Minority Groups” by Maya Haran Rosen and Orly Sade
“Economic Significance in Corporate Finance” by Todd Mitton
“Banks, Political Capital, and Growth” by Thomas Lambert, Wolf Wagner, and Eden Quxian Zhang
Decisions for submitted papers and registered reports have been sent. If you selected dual submission, you will receive a separate email in the coming weeks.
The 11th MoFiR Workshop on Banking is now accepting submissions. Please see the Call for Papers. The workshop, which features a dual submission option with RCFS, will take place in Lisbon on July 5-6, 2022. The RCFS sponsoring editor is Andrew Ellul. The submission deadline is 6pm (GMT), Sunday January 30, 2022.
“Do Ex-Bankers Benefit Non-Financial Firms? Evidence from Job Transitions” by Lucy Chernykh and Sergey Mityakov
The Editorial Board has received 33 Registered Reports on the subject of “Finance for the Greater Good” for the 2022 RCFS Winter Conference.