How dynamic capabilities matter for the implementation of a successful equity crowdfunding campaign

This chapter provides a dynamic capabilities view in order to understand if the characteristics of a crowdfunding campaign, and hence its probability of failure or success, are related to a firm’s capabilities. It explores three dimensions: coordinating/integrating activities, learning and strategic competitive response processes. The chapter focuses on one of these new sources, crowd-funding. This term is considered as an umbrella, under which is included equity crowdfunding that consists of an open call in which entrepreneurs sell a specified amount of equity or bond-like shares in a company on the Internet, hoping to attract a large group of investors. The chapter provides a new dimension of analysis in order to facilitate the understanding of the equity crowdfunding phenomenon for the firm. It examines the dynamic capabilities of firms with the implementation of a successful equity crowdfunding campaign and analyzes what is the role of different categories of dynamic capabilities in the implementation of such a campaign.