Volltext-Downloads (blau) und Frontdoor-Views (grau)

Zeitcafé Freiburg - Founding and Financing of a Start-up Company: Can cooperatives be a Suitable Form for Crowdfunding Companies regarding Information Asymmetry and Agency Costs

  • The goal of this thesis is to evaluate the impact the choice of registered cooperatives as legal form for start-ups can have on the success of crowdfunding campaigns regarding information asymmetry and agency costs. The theoretical analysis argues that due to the reduction of information asymmetry between founders and contributors, agency costs should be reduced,and success of their crowdfunding campaigns should be more likely. This result is confirmed with some caveats with the help of expert interviews. In conclusion, only companies that aim for additional benefits of registered cooperatives are eligible to be founded as registered cooperatives in order to decrease information asymmetry and increase chances of success in crowdfunding. Throughout the paper, the different concepts are applied to the practical example of the founding process of a social start-up, the Zeitcafé Freiburg, which results in the recommendation of registered cooperatives as legal form and crowdfunding as one source of capital.

Export metadata

Additional Services

Search Google Scholar


Author:Maximilian von Schultzendorff
Advisor:Uwe Hack
Document Type:Bachelor Thesis
Year of Completion:2020
Granting Institution:Hochschule Furtwangen
Date of final exam:2020/02/26
Release Date:2020/02/26
Tag:Agency costs; Crowdfunding; Financing; Information asymmetry; Registered cooperatives
Degree Program:IBM - International Business Management
Functional area:Finance & Accounting
Licence (German):License LogoUrheberrechtlich geschützt