Silvio Vismara

This study investigates the relationship between financial literacy and the survival profile of the security-based crowdfunding platforms. Security-based crowdfunding has recently emerged as a novel market that allows small investors to engage directly in financing entrepreneurial ventures. However, a certain level of financial literacy is required to understand and manage these digital finance tools. A better understanding of the impact of financial literacy is, therefore, central to the development of these markets and the achievement of their inclusive potential.