INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION
Autor(a) principal: | |
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Data de Publicação: | 2022 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Revista Opinião Jurídica (Fortaleza) |
Texto Completo: | https://periodicos.unichristus.edu.br/opiniaojuridica/article/view/3894 |
Resumo: | Background: The Investment-based Crowdfunding development since its regulation by ICVM no. 588 in 2017.Objective: Assess the hypothesis that the regulation brought by CVM Instruction No. 588 of 2017 is fulfilling the objectives that led to its institution, that is, democratizing and expanding access to the securities market for new ventures of recognized potential.Method: Bibliographic review and an analysis of quantitative and qualitative data regarding Investment-based Crowdfunding platforms, the volume of funds raised, investors, invested companies and invested areas between 2014 and 2020.Results: It was noticeable an increase on the Investment-based Crowdfunding numbers from 2017 and on its potential to finance business ventures. It has also been possible to note that investments are usually concentrated among male investors, under the age of 40 years old, with higher education degrees and high average income, located in the south and southeast regions and interested in investing in particular domains such as financial, real estate and technology.Conclusions: The mapped results seem to indicate that there is still room for improvement in terms of regulation in order to promote the expansion of the use the Investment-based Crowdfunding, since the collected data framed limited investment diversification landscape in three aspects: country regions where securities are offered via Investment-based Crowdfunding, the investors’ profile and the scope of activities subject to investment. Based on the recent Public Consultation SDM CVM 02/2020, it has not been possible to identify rules, mechanisms or regulatory standards that could possibly address the verified concentrated investment landscape in Brazil. |
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INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATIONCROWDFUNDING DE INVERSIÓN EN NÚMEROS EN BRASIL Y LA PERSPECTIVA DE AMPLIACIÓN DE SU ACCESO A LA POBLACIÓN BRASILEÑAO CROWDFUNDING DE INVESTIMENTO EM NÚMEROS NO BRASIL E A PERSPECTIVA DE AMPLIAÇÃO DE SEU ACESSO À POPULAÇÃO BRASILEIRAinvestment-based crowfundingempirical researchdemocratizationaccesssecurities marketcrowdfunding de inversióninvestigación empíricademocratizaciónaccesomercado de valorescrowfunding de investimentopesquisa empíricademocratizaçãoacessomercado de valores mobiliáriosBackground: The Investment-based Crowdfunding development since its regulation by ICVM no. 588 in 2017.Objective: Assess the hypothesis that the regulation brought by CVM Instruction No. 588 of 2017 is fulfilling the objectives that led to its institution, that is, democratizing and expanding access to the securities market for new ventures of recognized potential.Method: Bibliographic review and an analysis of quantitative and qualitative data regarding Investment-based Crowdfunding platforms, the volume of funds raised, investors, invested companies and invested areas between 2014 and 2020.Results: It was noticeable an increase on the Investment-based Crowdfunding numbers from 2017 and on its potential to finance business ventures. It has also been possible to note that investments are usually concentrated among male investors, under the age of 40 years old, with higher education degrees and high average income, located in the south and southeast regions and interested in investing in particular domains such as financial, real estate and technology.Conclusions: The mapped results seem to indicate that there is still room for improvement in terms of regulation in order to promote the expansion of the use the Investment-based Crowdfunding, since the collected data framed limited investment diversification landscape in three aspects: country regions where securities are offered via Investment-based Crowdfunding, the investors’ profile and the scope of activities subject to investment. Based on the recent Public Consultation SDM CVM 02/2020, it has not been possible to identify rules, mechanisms or regulatory standards that could possibly address the verified concentrated investment landscape in Brazil.Contextualización: El desarrollo del Crowdfunding de Inversión desde su regulación por ICVM nº 588 en 2017.Objetivo: Evaluar la hipótesis de que la regulación traída por la Instrucción CVM No. 588 de 2017 está cumpliendo con los objetivos que llevaron a su institución, es decir, democratizar y ampliar el acceso al mercado de valores para emprendimientos nacientes de reconocido potencial.Método: Revisión bibliográfica y de análisis de estándares y datos, cuantitativos y cualitativos, respecto a plataformas de inversión participativa, volumen de fondos recaudados, inversores, empresas investidas y áreas de inversión entre 2014 y 2020.Resultados: Hubo un aumento considerable en los números del Crowdfunding de Inversión a partir de 2017 y en su potencial para financiar empresas comerciales. Fue posible notar una concentración de la aplicación entre los inversionistas varones, menores de 40 años, con títulos de educación superior y altos ingresos promedio, en las regiones sur y sureste, y limitadas a algunas actividades especificas como en los sectores financiero, inmobiliario y tecnológico.Conclusiones: Los resultados mapeados parecen indicar la necesidad de modificar la regulación a fin de promover la expansión del uso del Crowdfunding de Inversión, una vez verificada la limitada diversificación de inversiones en tres aspectos: regiones del país en las que se ofrecen valores a través de Crowdfunding de Inversión; el perfil del inversor y el alcance de las actividades sujetas a inversión. Analizando la reciente Convocatoria de Audiencia Pública SDM CVM n. 02/2020, no fue posible identificar en la propuesta normativa reglas, mecanismos o perspectivas para incrementar la baja diversificación de inversiones observada en el país.Contextualização: O desenvolvimento do Crowdfunding de Investimento desde a sua regulação pela ICVM n. 588 em 2017.Objetivo:Avaliar a hipótese segundo a qual a regulação trazida pela Instrução CVM n. 588 de 2017 está cumprindo os objetivos que levaram à sua instituição, isto é, democratizar e ampliar o acesso ao mercado de valores mobiliários para empreendimentos nascentes de reconhecido potencial.Método: Revisão bibliográfica e análise de normas e dados, quantitativos e qualitativos, a respeito de plataformas eletrônicas de investimento participativo, volume de recursos captado, investidores, sociedades empresárias e áreas investidas entre 2014 e 2020.Resultados: Percebeu-se considerável aumento dos números do Crowdfunding de Investimento a partir de 2017 e do seu potencial para financiar empreendimentos empresariais. Observou-se concentração de aplicação dentre os investidores do sexo masculino, com idade inferior a 40 anos, portadores de diploma de Ensino Superior e com renda média elevada, nas regiões Sul e Sudeste, e em algumas atividades, tendo sido o maior volume captado pelos setores financeiro, imobiliário e de tecnologia.Conclusões: Os resultados mapeados parecem indicar a necessidade de aperfeiçoar a regulação visando a fomentar a ampliação de utilização do Crowdfunding de Investimento, eis que verificada pouca diversidade quanto a três aspectos: regiões do país em que são ofertados valores mobiliários via Crowdfunding de Investimento; perfil dos investidores; abrangência de atividades em que se investiu. Analisando-se o recente Edital de Audiência Pública SDM CVM n. 02/2020, não foi possível identificar na proposta de alteração normativa por ele trazida regras, mecanismos ou perspectivas para ampliar a baixa diversificação verificada no país.Instituto para o Desenvolvimento da Educacao (Centro Universitário Christus - Unichristus)2022-07-18info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/xmlhttps://periodicos.unichristus.edu.br/opiniaojuridica/article/view/389410.12662/2447-6641oj.v20i35.p21-60.2022Revista Opinião Jurídica (Fortaleza); Vol. 20 No. 35 (2022); 21-60Revista Opinião Jurídica (Fortaleza); Vol. 20 Núm. 35 (2022); 21-60Revista Opinião Jurídica (Fortaleza); Vol. 20 No 35 (2022); 21-60Revista Opinião Jurídica (Fortaleza); v. 20 n. 35 (2022); 21-602447-66411806-042010.12662/2447-6641oj.v20i35.2022reponame:Revista Opinião Jurídica (Fortaleza)instname:Centro Universitário Christus (Unichristus)instacron:UNICHRISTUSporhttps://periodicos.unichristus.edu.br/opiniaojuridica/article/view/3894/1610https://periodicos.unichristus.edu.br/opiniaojuridica/article/view/3894/1617Copyright (c) 2022 Revista Opinião Jurídica (Fortaleza)info:eu-repo/semantics/openAccessRagil, Rodrigo Rocha FeresNeves, Rubia Carneiro2023-01-30T13:15:49Zoai:ojs.emnuvens.com.br:article/3894Revistahttps://periodicos.unichristus.edu.br/opiniaojuridicaPRIhttps://periodicos.unichristus.edu.br/opiniaojuridica/oaiopiniaojuridica01@unichristus.edu.br || secretaria.oj@unichristus.edu.br2447-66411806-0420opendoar:2023-01-30T13:15:49Revista Opinião Jurídica (Fortaleza) - Centro Universitário Christus (Unichristus)false |
dc.title.none.fl_str_mv |
INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION CROWDFUNDING DE INVERSIÓN EN NÚMEROS EN BRASIL Y LA PERSPECTIVA DE AMPLIACIÓN DE SU ACCESO A LA POBLACIÓN BRASILEÑA O CROWDFUNDING DE INVESTIMENTO EM NÚMEROS NO BRASIL E A PERSPECTIVA DE AMPLIAÇÃO DE SEU ACESSO À POPULAÇÃO BRASILEIRA |
title |
INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION |
spellingShingle |
INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION Ragil, Rodrigo Rocha Feres investment-based crowfunding empirical research democratization access securities market crowdfunding de inversión investigación empírica democratización acceso mercado de valores crowfunding de investimento pesquisa empírica democratização acesso mercado de valores mobiliários |
title_short |
INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION |
title_full |
INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION |
title_fullStr |
INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION |
title_full_unstemmed |
INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION |
title_sort |
INVESTMENT-BASED CROWDFUNDING IN NUMBERS IN BRAZIL AND THE PROSPECT OF EXPANDING ITS ACCESS TO THE BRAZILIAN POPULATION |
author |
Ragil, Rodrigo Rocha Feres |
author_facet |
Ragil, Rodrigo Rocha Feres Neves, Rubia Carneiro |
author_role |
author |
author2 |
Neves, Rubia Carneiro |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Ragil, Rodrigo Rocha Feres Neves, Rubia Carneiro |
dc.subject.por.fl_str_mv |
investment-based crowfunding empirical research democratization access securities market crowdfunding de inversión investigación empírica democratización acceso mercado de valores crowfunding de investimento pesquisa empírica democratização acesso mercado de valores mobiliários |
topic |
investment-based crowfunding empirical research democratization access securities market crowdfunding de inversión investigación empírica democratización acceso mercado de valores crowfunding de investimento pesquisa empírica democratização acesso mercado de valores mobiliários |
description |
Background: The Investment-based Crowdfunding development since its regulation by ICVM no. 588 in 2017.Objective: Assess the hypothesis that the regulation brought by CVM Instruction No. 588 of 2017 is fulfilling the objectives that led to its institution, that is, democratizing and expanding access to the securities market for new ventures of recognized potential.Method: Bibliographic review and an analysis of quantitative and qualitative data regarding Investment-based Crowdfunding platforms, the volume of funds raised, investors, invested companies and invested areas between 2014 and 2020.Results: It was noticeable an increase on the Investment-based Crowdfunding numbers from 2017 and on its potential to finance business ventures. It has also been possible to note that investments are usually concentrated among male investors, under the age of 40 years old, with higher education degrees and high average income, located in the south and southeast regions and interested in investing in particular domains such as financial, real estate and technology.Conclusions: The mapped results seem to indicate that there is still room for improvement in terms of regulation in order to promote the expansion of the use the Investment-based Crowdfunding, since the collected data framed limited investment diversification landscape in three aspects: country regions where securities are offered via Investment-based Crowdfunding, the investors’ profile and the scope of activities subject to investment. Based on the recent Public Consultation SDM CVM 02/2020, it has not been possible to identify rules, mechanisms or regulatory standards that could possibly address the verified concentrated investment landscape in Brazil. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-07-18 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://periodicos.unichristus.edu.br/opiniaojuridica/article/view/3894 10.12662/2447-6641oj.v20i35.p21-60.2022 |
url |
https://periodicos.unichristus.edu.br/opiniaojuridica/article/view/3894 |
identifier_str_mv |
10.12662/2447-6641oj.v20i35.p21-60.2022 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
https://periodicos.unichristus.edu.br/opiniaojuridica/article/view/3894/1610 https://periodicos.unichristus.edu.br/opiniaojuridica/article/view/3894/1617 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2022 Revista Opinião Jurídica (Fortaleza) info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2022 Revista Opinião Jurídica (Fortaleza) |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/xml |
dc.publisher.none.fl_str_mv |
Instituto para o Desenvolvimento da Educacao (Centro Universitário Christus - Unichristus) |
publisher.none.fl_str_mv |
Instituto para o Desenvolvimento da Educacao (Centro Universitário Christus - Unichristus) |
dc.source.none.fl_str_mv |
Revista Opinião Jurídica (Fortaleza); Vol. 20 No. 35 (2022); 21-60 Revista Opinião Jurídica (Fortaleza); Vol. 20 Núm. 35 (2022); 21-60 Revista Opinião Jurídica (Fortaleza); Vol. 20 No 35 (2022); 21-60 Revista Opinião Jurídica (Fortaleza); v. 20 n. 35 (2022); 21-60 2447-6641 1806-0420 10.12662/2447-6641oj.v20i35.2022 reponame:Revista Opinião Jurídica (Fortaleza) instname:Centro Universitário Christus (Unichristus) instacron:UNICHRISTUS |
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Centro Universitário Christus (Unichristus) |
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UNICHRISTUS |
institution |
UNICHRISTUS |
reponame_str |
Revista Opinião Jurídica (Fortaleza) |
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Revista Opinião Jurídica (Fortaleza) |
repository.name.fl_str_mv |
Revista Opinião Jurídica (Fortaleza) - Centro Universitário Christus (Unichristus) |
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opiniaojuridica01@unichristus.edu.br || secretaria.oj@unichristus.edu.br |
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1797052896050675712 |