Birmingham Business School and the Journal of Corporate Finance Co-sponsored Conference: Developments in Alternative Finance
- Birmingham Business School
- Research, Social Sciences
The objective of this co-sponsored conference is to promote both theoretical and empirical research on the challenges and opportunities, developments and dynamics of alternative finance and its impact on traditional financial markets’ liquidity and performance.
Professor Raghavendra Rau (Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School)
Pursuant to the recent financial turmoil, businesses are increasingly looking beyond the more traditional sources of external finance such as bonds and stocks. The Alternative Finance market that includes equity-based and donation–based crowdfunding, peer-to-peer finance, peer-to-business finance, invoice trading, revenue and profit sharing crowdfunding, community shares, and pension-led funding has been growing significantly over the past few years.
In the wake of the high level of political, regulatory and economic uncertainty along with recent developments in financial technology, climate change, clean technology and green finance, new contributions in Alternative Finance will significantly change the landscape of sources of finance for businesses.
As a result of its complex nature, limited regulations, and lack of liquidity, regulators worldwide have sought to restrict investors in Alternative Finance to sophisticated investors that include institutional investors and accredited, high-net-worth individuals. Access to new technology however has worked to significantly demystify the Alternative Finance industry, as new forms of Alternative Finance evolve and more investors, or rather, less sophisticated retail investors, have access, there is a need to develop a more nuanced understanding to the motivation beyond the innovative design of alternative sources of finance e.g. crowdfunding and peer-to-peer finance, and their influence on the dynamics market participants.
- Hisham Farag (University of Birmingham Business School)
- Sofia Johan (College of Business, Florida Atlantic University)
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