id	sid	tid	token	lemma	pos
faba-177	1	1	173	173	NUM
faba-177	1	2	finance	finance	NOUN
faba-177	1	3	,	,	PUNCT
faba-177	1	4	accounting	accounting	NOUN
faba-177	1	5	and	and	CCONJ
faba-177	1	6	business	business	NOUN
faba-177	1	7	analysis	analysis	NOUN
faba-177	1	8	volume	volume	NOUN
faba-177	1	9	5	5	NUM
faba-177	1	10	issue	issue	NOUN
faba-177	1	11	2	2	NUM
faba-177	1	12	,	,	PUNCT
faba-177	1	13	2023	2023	NUM
faba-177	1	14	http://faba.bg/	http://faba.bg/	NOUN
faba-177	1	15	issn	issn	VERB
faba-177	1	16	2603	2603	NUM
faba-177	1	17	-	-	SYM
faba-177	1	18	5324	5324	NUM
faba-177	1	19	evaluating	evaluate	VERB
faba-177	1	20	current	current	ADJ
faba-177	1	21	stage	stage	NOUN
faba-177	1	22	of	of	ADP
faba-177	1	23	equity	equity	NOUN
faba-177	1	24	crowdfunding	crowdfunding	NOUN
faba-177	1	25	adoption	adoption	NOUN
faba-177	1	26	in	in	ADP
faba-177	1	27	indonesia	indonesia	PROPN
faba-177	1	28	:	:	PUNCT
faba-177	1	29	an	an	DET
faba-177	1	30	exploratory	exploratory	ADJ
faba-177	1	31	study	study	NOUN
faba-177	1	32	muhammad	muhammad	PROPN
faba-177	1	33	ramadhani	ramadhani	VERB
faba-177	1	34	sanjaya1	sanjaya1	PROPN
faba-177	1	35	*	*	PROPN
faba-177	1	36	,	,	PUNCT
faba-177	1	37	deddy	deddy	PROPN
faba-177	1	38	priatmodjo	priatmodjo	PROPN
faba-177	1	39	koesrindartoto2	koesrindartoto2	PROPN
faba-177	1	40	school	school	PROPN
faba-177	1	41	of	of	ADP
faba-177	1	42	business	business	NOUN
faba-177	1	43	and	and	CCONJ
faba-177	1	44	management	management	NOUN
faba-177	1	45	,	,	PUNCT
faba-177	1	46	bandung	bandung	PROPN
faba-177	1	47	institute	institute	PROPN
faba-177	1	48	of	of	ADP
faba-177	1	49	technology	technology	PROPN
faba-177	1	50	,	,	PUNCT
faba-177	1	51	bandung	bandung	PROPN
faba-177	1	52	,	,	PUNCT
faba-177	1	53	indonesia1	indonesia1	VERB
faba-177	1	54	school	school	NOUN
faba-177	1	55	of	of	ADP
faba-177	1	56	business	business	NOUN
faba-177	1	57	and	and	CCONJ
faba-177	1	58	management	management	NOUN
faba-177	1	59	,	,	PUNCT
faba-177	1	60	bandung	bandung	PROPN
faba-177	1	61	institute	institute	PROPN
faba-177	1	62	of	of	ADP
faba-177	1	63	technology	technology	PROPN
faba-177	1	64	,	,	PUNCT
faba-177	1	65	bandung	bandung	PROPN
faba-177	1	66	,	,	PUNCT
faba-177	1	67	indonesia2	indonesia2	NOUN
faba-177	1	68	*	*	PUNCT
faba-177	1	69	corresponding	correspond	VERB
faba-177	1	70	author	author	NOUN
faba-177	1	71	info	info	NOUN
faba-177	1	72	articles	article	NOUN
faba-177	1	73	abstract	abstract	ADJ
faba-177	1	74	history	history	NOUN
faba-177	1	75	article	article	NOUN
faba-177	1	76	:	:	PUNCT
faba-177	2	1	submitted	submit	VERB
faba-177	2	2	16	16	NUM
faba-177	2	3	november	november	PROPN
faba-177	2	4	2023	2023	NUM
faba-177	2	5	revised	revise	VERB
faba-177	2	6	15	15	NUM
faba-177	2	7	january	january	NOUN
faba-177	2	8	2024	2024	NUM
faba-177	2	9	accepted	accept	VERB
faba-177	2	10	16	16	NUM
faba-177	2	11	january	january	PROPN
faba-177	2	12	2024	2024	NUM
faba-177	2	13	purpose	purpose	NOUN
faba-177	2	14	:	:	PUNCT
faba-177	2	15	this	this	DET
faba-177	2	16	study	study	NOUN
faba-177	2	17	investigates	investigate	VERB
faba-177	2	18	the	the	DET
faba-177	2	19	operational	operational	ADJ
faba-177	2	20	processes	process	NOUN
faba-177	2	21	,	,	PUNCT
faba-177	2	22	oversight	oversight	NOUN
faba-177	2	23	practices	practice	NOUN
faba-177	2	24	,	,	PUNCT
faba-177	2	25	investor	investor	NOUN
faba-177	2	26	incentives	incentive	NOUN
faba-177	2	27	and	and	CCONJ
faba-177	2	28	business	business	NOUN
faba-177	2	29	impacts	impact	NOUN
faba-177	2	30	in	in	ADP
faba-177	2	31	the	the	DET
faba-177	2	32	localization	localization	NOUN
faba-177	2	33	of	of	ADP
faba-177	2	34	equity	equity	NOUN
faba-177	2	35	crowdfunding	crowdfunding	NOUN
faba-177	2	36	in	in	ADP
faba-177	2	37	indonesia	indonesia	PROPN
faba-177	2	38	through	through	ADP
faba-177	2	39	an	an	DET
faba-177	2	40	exploratory	exploratory	ADJ
faba-177	2	41	case	case	NOUN
faba-177	2	42	study	study	NOUN
faba-177	2	43	of	of	ADP
faba-177	2	44	the	the	DET
faba-177	2	45	landx	landx	ADJ
faba-177	2	46	platform	platform	NOUN
faba-177	2	47	.	.	PUNCT
faba-177	3	1	design	design	NOUN
faba-177	3	2	/	/	SYM
faba-177	3	3	methodology	methodology	NOUN
faba-177	3	4	/	/	SYM
faba-177	3	5	approach	approach	NOUN
faba-177	3	6	:	:	PUNCT
faba-177	3	7	qualitative	qualitative	ADJ
faba-177	3	8	data	datum	NOUN
faba-177	3	9	was	be	AUX
faba-177	3	10	collected	collect	VERB
faba-177	3	11	through	through	ADP
faba-177	3	12	interviews	interview	NOUN
faba-177	3	13	with	with	ADP
faba-177	3	14	5	5	NUM
faba-177	3	15	key	key	ADJ
faba-177	3	16	personnel	personnel	NOUN
faba-177	3	17	of	of	ADP
faba-177	3	18	landx	landx	NOUN
faba-177	3	19	and	and	CCONJ
faba-177	3	20	document	document	NOUN
faba-177	3	21	analysis	analysis	NOUN
faba-177	3	22	of	of	ADP
faba-177	3	23	8	8	NUM
faba-177	3	24	internal	internal	ADJ
faba-177	3	25	materials	material	NOUN
faba-177	3	26	related	relate	VERB
faba-177	3	27	to	to	ADP
faba-177	3	28	operational	operational	ADJ
faba-177	3	29	processes	process	NOUN
faba-177	3	30	and	and	CCONJ
faba-177	3	31	financial	financial	ADJ
faba-177	3	32	outcomes	outcome	NOUN
faba-177	3	33	.	.	PUNCT
faba-177	4	1	data	datum	NOUN
faba-177	4	2	underwent	underwent	NOUN
faba-177	4	3	inductive	inductive	ADJ
faba-177	4	4	thematic	thematic	ADJ
faba-177	4	5	analysis	analysis	NOUN
faba-177	4	6	.	.	PUNCT
faba-177	5	1	findings	finding	NOUN
faba-177	5	2	:	:	PUNCT
faba-177	5	3	findings	finding	NOUN
faba-177	5	4	reveal	reveal	VERB
faba-177	5	5	landx	landx	ADJ
faba-177	5	6	conducts	conduct	NOUN
faba-177	5	7	structured	structure	VERB
faba-177	5	8	due	due	ADJ
faba-177	5	9	diligence	diligence	NOUN
faba-177	5	10	encompassing	encompass	VERB
faba-177	5	11	weighted	weight	VERB
faba-177	5	12	financial	financial	ADJ
faba-177	5	13	and	and	CCONJ
faba-177	5	14	qualitative	qualitative	ADJ
faba-177	5	15	criteria	criterion	NOUN
faba-177	5	16	that	that	PRON
faba-177	5	17	represent	represent	VERB
faba-177	5	18	industry	industry	NOUN
faba-177	5	19	best	good	ADJ
faba-177	5	20	practices	practice	NOUN
faba-177	5	21	,	,	PUNCT
faba-177	5	22	balanced	balance	VERB
faba-177	5	23	by	by	ADP
faba-177	5	24	outcome	outcome	NOUN
faba-177	5	25	uncertainties	uncertainty	NOUN
faba-177	5	26	.	.	PUNCT
faba-177	6	1	investor	investor	NOUN
faba-177	6	2	incentives	incentive	NOUN
faba-177	6	3	span	span	VERB
faba-177	6	4	portfolio	portfolio	NOUN
faba-177	6	5	diversification	diversification	NOUN
faba-177	6	6	to	to	ADP
faba-177	6	7	personal	personal	ADJ
faba-177	6	8	passions	passion	NOUN
faba-177	6	9	,	,	PUNCT
faba-177	6	10	requiring	require	VERB
faba-177	6	11	tailored	tailored	ADJ
faba-177	6	12	communication	communication	NOUN
faba-177	6	13	and	and	CCONJ
faba-177	6	14	education	education	NOUN
faba-177	6	15	to	to	PART
faba-177	6	16	ensure	ensure	VERB
faba-177	6	17	informed	informed	ADJ
faba-177	6	18	participation	participation	NOUN
faba-177	6	19	.	.	PUNCT
faba-177	7	1	while	while	SCONJ
faba-177	7	2	complying	comply	VERB
faba-177	7	3	strictly	strictly	ADV
faba-177	7	4	with	with	ADP
faba-177	7	5	regulations	regulation	NOUN
faba-177	7	6	,	,	PUNCT
faba-177	7	7	landx	landx	PROPN
faba-177	7	8	also	also	ADV
faba-177	7	9	demonstrates	demonstrate	VERB
faba-177	7	10	responsible	responsible	ADJ
faba-177	7	11	self	self	NOUN
faba-177	7	12	-	-	PUNCT
faba-177	7	13	governance	governance	NOUN
faba-177	7	14	through	through	ADP
faba-177	7	15	transparency	transparency	NOUN
faba-177	7	16	and	and	CCONJ
faba-177	7	17	protections	protection	NOUN
faba-177	7	18	that	that	PRON
faba-177	7	19	exceed	exceed	VERB
faba-177	7	20	policy	policy	NOUN
faba-177	7	21	requirements	requirement	NOUN
faba-177	7	22	.	.	PUNCT
faba-177	8	1	qualitative	qualitative	ADJ
faba-177	8	2	indications	indication	NOUN
faba-177	8	3	point	point	VERB
faba-177	8	4	to	to	PART
faba-177	8	5	accelerated	accelerate	VERB
faba-177	8	6	issuer	issuer	ADJ
faba-177	8	7	growth	growth	NOUN
faba-177	8	8	,	,	PUNCT
faba-177	8	9	but	but	CCONJ
faba-177	8	10	quantified	quantify	VERB
faba-177	8	11	impact	impact	NOUN
faba-177	8	12	data	datum	NOUN
faba-177	8	13	remains	remain	VERB
faba-177	8	14	limited	limited	ADJ
faba-177	8	15	.	.	PUNCT
faba-177	9	1	practical	practical	ADJ
faba-177	9	2	implications	implication	NOUN
faba-177	9	3	:	:	PUNCT
faba-177	9	4	results	result	NOUN
faba-177	9	5	provide	provide	VERB
faba-177	9	6	insights	insight	NOUN
faba-177	9	7	into	into	ADP
faba-177	9	8	prudent	prudent	ADJ
faba-177	9	9	navigation	navigation	NOUN
faba-177	9	10	required	require	VERB
faba-177	9	11	to	to	PART
faba-177	9	12	advance	advance	VERB
faba-177	9	13	equity	equity	NOUN
faba-177	9	14	crowdfunding	crowdfunding	NOUN
faba-177	9	15	in	in	ADP
faba-177	9	16	indonesia	indonesia	PROPN
faba-177	9	17	through	through	ADP
faba-177	9	18	platform	platform	NOUN
faba-177	9	19	diligence	diligence	NOUN
faba-177	9	20	and	and	CCONJ
faba-177	9	21	education	education	NOUN
faba-177	9	22	,	,	PUNCT
faba-177	9	23	calibrated	calibrate	VERB
faba-177	9	24	outcome	outcome	NOUN
faba-177	9	25	expectations	expectation	NOUN
faba-177	9	26	,	,	PUNCT
faba-177	9	27	updated	update	VERB
faba-177	9	28	regulations	regulation	NOUN
faba-177	9	29	,	,	PUNCT
faba-177	9	30	and	and	CCONJ
faba-177	9	31	multi	multi	ADJ
faba-177	9	32	-	-	ADJ
faba-177	9	33	stakeholder	stakeholder	ADJ
faba-177	9	34	collaboration	collaboration	NOUN
faba-177	9	35	.	.	PUNCT
faba-177	10	1	originality	originality	NOUN
faba-177	10	2	/	/	SYM
faba-177	10	3	value	value	NOUN
faba-177	10	4	:	:	PUNCT
faba-177	10	5	this	this	DET
faba-177	10	6	pioneering	pioneer	VERB
faba-177	10	7	study	study	NOUN
faba-177	10	8	provides	provide	VERB
faba-177	10	9	timely	timely	ADJ
faba-177	10	10	qualitative	qualitative	ADJ
faba-177	10	11	insights	insight	NOUN
faba-177	10	12	into	into	ADP
faba-177	10	13	equity	equity	NOUN
faba-177	10	14	crowdfunding	crowdfunding	NOUN
faba-177	10	15	localization	localization	NOUN
faba-177	10	16	dynamics	dynamic	NOUN
faba-177	10	17	in	in	ADP
faba-177	10	18	the	the	DET
faba-177	10	19	underexamined	underexamined	ADJ
faba-177	10	20	context	context	NOUN
faba-177	10	21	of	of	ADP
faba-177	10	22	indonesia	indonesia	PROPN
faba-177	10	23	.	.	PUNCT
faba-177	11	1	paper	paper	NOUN
faba-177	11	2	type	type	NOUN
faba-177	11	3	:	:	PUNCT
faba-177	11	4	case	case	NOUN
faba-177	11	5	study	study	NOUN
faba-177	11	6	keywords	keyword	NOUN
faba-177	11	7	:	:	PUNCT
faba-177	11	8	equity	equity	NOUN
faba-177	11	9	crowdfunding	crowdfunding	NOUN
faba-177	11	10	,	,	PUNCT
faba-177	11	11	financial	financial	ADJ
faba-177	11	12	technology	technology	NOUN
faba-177	11	13	,	,	PUNCT
faba-177	11	14	indonesia	indonesia	PROPN
faba-177	11	15	,	,	PUNCT
faba-177	11	16	platform	platform	NOUN
faba-177	11	17	governance	governance	NOUN
faba-177	11	18	,	,	PUNCT
faba-177	11	19	due	due	ADJ
faba-177	11	20	diligence	diligence	NOUN
faba-177	11	21	.	.	PUNCT
faba-177	12	1	jel	jel	PROPN
faba-177	12	2	:	:	PUNCT
faba-177	12	3	g23	g23	PROPN
faba-177	12	4	,	,	PUNCT
faba-177	12	5	g20	g20	PROPN
faba-177	12	6	*	*	PUNCT
faba-177	12	7	address	address	NOUN
faba-177	12	8	correspondence	correspondence	NOUN
faba-177	12	9	:	:	PUNCT
faba-177	13	1	e	e	X
faba-177	13	2	-	-	NOUN
faba-177	13	3	mail	mail	NOUN
faba-177	13	4	:	:	PUNCT
faba-177	13	5	m.ramadhani@sbm	m.ramadhani@sbm	VERB
faba-177	13	6	-	-	PUNCT
faba-177	13	7	itb.ac.id1	itb.ac.id1	ADV
faba-177	13	8	deddypri@sbm	deddypri@sbm	PROPN
faba-177	13	9	-	-	PUNCT
faba-177	13	10	itb.ac.id2	itb.ac.id2	ADJ
faba-177	13	11	mailto:m.ramadhani@sbm-itb.ac.id	mailto:m.ramadhani@sbm-itb.ac.id	NOUN
faba-177	13	12	mailto:deddypri@sbm-itb.ac.id	mailto:deddypri@sbm-itb.ac.id	NOUN
faba-177	13	13	sanjaya	sanjaya	PROPN
faba-177	13	14	and	and	CCONJ
faba-177	13	15	koesrindartoto	koesrindartoto	PROPN
faba-177	13	16	/	/	SYM
faba-177	13	17	finance	finance	NOUN
faba-177	13	18	,	,	PUNCT
faba-177	13	19	accounting	accounting	NOUN
faba-177	13	20	and	and	CCONJ
faba-177	13	21	business	business	NOUN
faba-177	13	22	analysis	analysis	NOUN
faba-177	13	23	,	,	PUNCT
faba-177	13	24	volume	volume	NOUN
faba-177	13	25	5	5	NUM
faba-177	13	26	,	,	PUNCT
faba-177	13	27	issue	issue	NOUN
faba-177	13	28	2	2	NUM
faba-177	13	29	,	,	PUNCT
faba-177	13	30	2023	2023	NUM
faba-177	13	31	174	174	NUM
faba-177	13	32	introduction	introduction	NOUN
faba-177	13	33	equity	equity	NOUN
faba-177	13	34	crowdfunding	crowdfunding	NOUN
faba-177	13	35	has	have	AUX
faba-177	13	36	emerged	emerge	VERB
faba-177	13	37	as	as	ADP
faba-177	13	38	an	an	DET
faba-177	13	39	innovative	innovative	ADJ
faba-177	13	40	online	online	ADJ
faba-177	13	41	financing	financing	NOUN
faba-177	13	42	model	model	NOUN
faba-177	13	43	enabling	enable	VERB
faba-177	13	44	startups	startup	NOUN
faba-177	13	45	and	and	CCONJ
faba-177	13	46	small	small	ADJ
faba-177	13	47	businesses	business	NOUN
faba-177	13	48	to	to	PART
faba-177	13	49	raise	raise	VERB
faba-177	13	50	funds	fund	NOUN
faba-177	13	51	by	by	ADP
faba-177	13	52	tapping	tap	VERB
faba-177	13	53	into	into	ADP
faba-177	13	54	large	large	ADJ
faba-177	13	55	pools	pool	NOUN
faba-177	13	56	of	of	ADP
faba-177	13	57	retail	retail	ADJ
faba-177	13	58	investors	investor	NOUN
faba-177	13	59	rather	rather	ADV
faba-177	13	60	than	than	ADP
faba-177	13	61	traditional	traditional	ADJ
faba-177	13	62	sources	source	NOUN
faba-177	13	63	like	like	ADP
faba-177	13	64	banks	bank	NOUN
faba-177	13	65	or	or	CCONJ
faba-177	13	66	professional	professional	ADJ
faba-177	13	67	investors	investor	NOUN
faba-177	13	68	(	(	PUNCT
faba-177	13	69	signori	signori	NOUN
faba-177	13	70	and	and	CCONJ
faba-177	13	71	vismara	vismara	NOUN
faba-177	13	72	2018	2018	NUM
faba-177	13	73	)	)	PUNCT
faba-177	13	74	.	.	PUNCT
faba-177	14	1	also	also	ADV
faba-177	14	2	known	know	VERB
faba-177	14	3	as	as	ADP
faba-177	14	4	crowd	crowd	NOUN
faba-177	14	5	investing	investing	NOUN
faba-177	14	6	,	,	PUNCT
faba-177	14	7	equity	equity	NOUN
faba-177	14	8	crowdfunding	crowdfunding	NOUN
faba-177	14	9	facilitates	facilitate	VERB
faba-177	14	10	the	the	DET
faba-177	14	11	sale	sale	NOUN
faba-177	14	12	of	of	ADP
faba-177	14	13	a	a	DET
faba-177	14	14	private	private	ADJ
faba-177	14	15	company	company	NOUN
faba-177	14	16	's	's	PART
faba-177	14	17	shares	share	NOUN
faba-177	14	18	or	or	CCONJ
faba-177	14	19	securities	security	NOUN
faba-177	14	20	to	to	ADP
faba-177	14	21	a	a	DET
faba-177	14	22	dispersed	disperse	VERB
faba-177	14	23	group	group	NOUN
faba-177	14	24	of	of	ADP
faba-177	14	25	individuals	individual	NOUN
faba-177	14	26	through	through	ADP
faba-177	14	27	an	an	DET
faba-177	14	28	intermediary	intermediary	ADJ
faba-177	14	29	internet	internet	NOUN
faba-177	14	30	platform	platform	NOUN
faba-177	14	31	.	.	PUNCT
faba-177	15	1	this	this	PRON
faba-177	15	2	effectively	effectively	ADV
faba-177	15	3	democratizes	democratize	VERB
faba-177	15	4	access	access	NOUN
faba-177	15	5	to	to	ADP
faba-177	15	6	capital	capital	NOUN
faba-177	15	7	for	for	ADP
faba-177	15	8	growth	growth	NOUN
faba-177	15	9	-	-	PUNCT
faba-177	15	10	oriented	orient	VERB
faba-177	15	11	ventures	venture	NOUN
faba-177	15	12	while	while	SCONJ
faba-177	15	13	also	also	ADV
faba-177	15	14	opening	open	VERB
faba-177	15	15	up	up	ADP
faba-177	15	16	alternative	alternative	ADJ
faba-177	15	17	investment	investment	NOUN
faba-177	15	18	opportunities	opportunity	NOUN
faba-177	15	19	in	in	ADP
faba-177	15	20	early	early	ADJ
faba-177	15	21	-	-	PUNCT
faba-177	15	22	stage	stage	NOUN
faba-177	15	23	private	private	ADJ
faba-177	15	24	companies	company	NOUN
faba-177	15	25	for	for	ADP
faba-177	15	26	ordinary	ordinary	ADJ
faba-177	15	27	citizens	citizen	NOUN
faba-177	15	28	(	(	PUNCT
faba-177	15	29	cumming	cumming	NOUN
faba-177	15	30	and	and	CCONJ
faba-177	15	31	johan	johan	PROPN
faba-177	15	32	2019	2019	NUM
faba-177	15	33	)	)	PUNCT
faba-177	15	34	.	.	PUNCT
faba-177	16	1	globally	globally	ADV
faba-177	16	2	,	,	PUNCT
faba-177	16	3	equity	equity	NOUN
faba-177	16	4	crowdfunding	crowdfunding	NOUN
faba-177	16	5	has	have	AUX
faba-177	16	6	witnessed	witness	VERB
faba-177	16	7	remarkable	remarkable	ADJ
faba-177	16	8	growth	growth	NOUN
faba-177	16	9	as	as	ADP
faba-177	16	10	a	a	DET
faba-177	16	11	disruptive	disruptive	ADJ
faba-177	16	12	financial	financial	ADJ
faba-177	16	13	innovation	innovation	NOUN
faba-177	16	14	connecting	connect	VERB
faba-177	16	15	entrepreneurs	entrepreneur	NOUN
faba-177	16	16	and	and	CCONJ
faba-177	16	17	investors	investor	NOUN
faba-177	16	18	through	through	ADP
faba-177	16	19	the	the	DET
faba-177	16	20	power	power	NOUN
faba-177	16	21	of	of	ADP
faba-177	16	22	technology	technology	NOUN
faba-177	16	23	and	and	CCONJ
faba-177	16	24	crowdsourcing	crowdsourcing	NOUN
faba-177	16	25	.	.	PUNCT
faba-177	17	1	according	accord	VERB
faba-177	17	2	to	to	ADP
faba-177	17	3	the	the	DET
faba-177	17	4	cambridge	cambridge	PROPN
faba-177	17	5	centre	centre	PROPN
faba-177	17	6	for	for	ADP
faba-177	17	7	alternative	alternative	ADJ
faba-177	17	8	finance	finance	NOUN
faba-177	17	9	's	's	PART
faba-177	17	10	5th	5th	ADJ
faba-177	17	11	global	global	ADJ
faba-177	17	12	alternative	alternative	ADJ
faba-177	17	13	finance	finance	NOUN
faba-177	17	14	market	market	NOUN
faba-177	17	15	benchmarking	benchmarking	NOUN
faba-177	17	16	report	report	NOUN
faba-177	17	17	,	,	PUNCT
faba-177	17	18	the	the	DET
faba-177	17	19	total	total	ADJ
faba-177	17	20	transaction	transaction	NOUN
faba-177	17	21	value	value	NOUN
faba-177	17	22	in	in	ADP
faba-177	17	23	equity	equity	NOUN
faba-177	17	24	-	-	PUNCT
faba-177	17	25	based	base	VERB
faba-177	17	26	crowdfunding	crowdfunding	NOUN
faba-177	17	27	doubled	double	VERB
faba-177	17	28	from	from	ADP
faba-177	17	29	$	$	SYM
faba-177	17	30	320	320	NUM
faba-177	17	31	million	million	NUM
faba-177	17	32	in	in	ADP
faba-177	17	33	2019	2019	NUM
faba-177	17	34	to	to	PART
faba-177	17	35	reach	reach	VERB
faba-177	17	36	$	$	SYM
faba-177	17	37	619	619	NUM
faba-177	17	38	million	million	NUM
faba-177	17	39	in	in	ADP
faba-177	17	40	2021	2021	NUM
faba-177	17	41	(	(	PUNCT
faba-177	17	42	ziegler	ziegler	PROPN
faba-177	17	43	et	et	PROPN
faba-177	17	44	al	al	PROPN
faba-177	17	45	.	.	PROPN
faba-177	17	46	2022	2022	NUM
faba-177	17	47	)	)	PUNCT
faba-177	17	48	.	.	PUNCT
faba-177	18	1	the	the	DET
faba-177	18	2	asia	asia	PROPN
faba-177	18	3	pacific	pacific	PROPN
faba-177	18	4	region	region	PROPN
faba-177	18	5	currently	currently	ADV
faba-177	18	6	accounts	account	VERB
faba-177	18	7	for	for	ADP
faba-177	18	8	approximately	approximately	ADV
faba-177	18	9	7	7	NUM
faba-177	18	10	%	%	NOUN
faba-177	18	11	of	of	ADP
faba-177	18	12	the	the	DET
faba-177	18	13	global	global	ADJ
faba-177	18	14	equity	equity	NOUN
faba-177	18	15	crowdfunding	crowdfunding	NOUN
faba-177	18	16	market	market	NOUN
faba-177	18	17	,	,	PUNCT
faba-177	18	18	concentrated	concentrate	VERB
faba-177	18	19	primarily	primarily	ADV
faba-177	18	20	in	in	ADP
faba-177	18	21	countries	country	NOUN
faba-177	18	22	like	like	ADP
faba-177	18	23	australia	australia	PROPN
faba-177	18	24	,	,	PUNCT
faba-177	18	25	new	new	PROPN
faba-177	18	26	zealand	zealand	PROPN
faba-177	18	27	,	,	PUNCT
faba-177	18	28	china	china	PROPN
faba-177	18	29	,	,	PUNCT
faba-177	18	30	and	and	CCONJ
faba-177	18	31	southeast	southeast	PROPN
faba-177	18	32	asia	asia	PROPN
faba-177	18	33	.	.	PUNCT
faba-177	19	1	however	however	ADV
faba-177	19	2	,	,	PUNCT
faba-177	19	3	research	research	NOUN
faba-177	19	4	predicts	predict	VERB
faba-177	19	5	that	that	SCONJ
faba-177	19	6	emerging	emerge	VERB
faba-177	19	7	economies	economy	NOUN
faba-177	19	8	across	across	ADP
faba-177	19	9	asia	asia	PROPN
faba-177	19	10	with	with	ADP
faba-177	19	11	supportive	supportive	ADJ
faba-177	19	12	regulatory	regulatory	ADJ
faba-177	19	13	frameworks	framework	NOUN
faba-177	19	14	and	and	CCONJ
faba-177	19	15	technological	technological	ADJ
faba-177	19	16	infrastructure	infrastructure	NOUN
faba-177	19	17	will	will	AUX
faba-177	19	18	drive	drive	VERB
faba-177	19	19	significant	significant	ADJ
faba-177	19	20	continued	continued	ADJ
faba-177	19	21	expansion	expansion	NOUN
faba-177	19	22	of	of	ADP
faba-177	19	23	equity	equity	NOUN
faba-177	19	24	crowdfunding	crowdfunding	NOUN
faba-177	19	25	.	.	PUNCT
faba-177	20	1	the	the	DET
faba-177	20	2	global	global	ADJ
faba-177	20	3	market	market	NOUN
faba-177	20	4	valuation	valuation	NOUN
faba-177	20	5	is	be	AUX
faba-177	20	6	forecasted	forecast	VERB
faba-177	20	7	to	to	PART
faba-177	20	8	reach	reach	VERB
faba-177	20	9	$	$	SYM
faba-177	20	10	22.9	22.9	NUM
faba-177	20	11	billion	billion	NUM
faba-177	20	12	by	by	ADP
faba-177	20	13	2025	2025	NUM
faba-177	20	14	,	,	PUNCT
faba-177	20	15	registering	register	VERB
faba-177	20	16	a	a	DET
faba-177	20	17	cagr	cagr	NOUN
faba-177	20	18	of	of	ADP
faba-177	20	19	22	22	NUM
faba-177	20	20	%	%	NOUN
faba-177	20	21	from	from	ADP
faba-177	20	22	2020	2020	NUM
faba-177	20	23	-	-	SYM
faba-177	20	24	2025	2025	NUM
faba-177	20	25	.	.	PUNCT
faba-177	21	1	equity	equity	NOUN
faba-177	21	2	crowdfunding	crowdfunding	NOUN
faba-177	21	3	holds	hold	VERB
faba-177	21	4	unique	unique	ADJ
faba-177	21	5	promise	promise	NOUN
faba-177	21	6	as	as	ADP
faba-177	21	7	an	an	DET
faba-177	21	8	alternative	alternative	ADJ
faba-177	21	9	financing	financing	NOUN
faba-177	21	10	model	model	NOUN
faba-177	21	11	that	that	PRON
faba-177	21	12	can	can	AUX
faba-177	21	13	unlock	unlock	VERB
faba-177	21	14	startup	startup	ADJ
faba-177	21	15	growth	growth	NOUN
faba-177	21	16	potential	potential	NOUN
faba-177	21	17	by	by	ADP
faba-177	21	18	expanding	expand	VERB
faba-177	21	19	access	access	NOUN
faba-177	21	20	to	to	ADP
faba-177	21	21	early	early	ADJ
faba-177	21	22	-	-	PUNCT
faba-177	21	23	stage	stage	NOUN
faba-177	21	24	risk	risk	NOUN
faba-177	21	25	capital	capital	NOUN
faba-177	21	26	amidst	amidst	ADP
faba-177	21	27	constraints	constraint	NOUN
faba-177	21	28	in	in	ADP
faba-177	21	29	traditional	traditional	ADJ
faba-177	21	30	channels	channel	NOUN
faba-177	21	31	like	like	ADP
faba-177	21	32	venture	venture	NOUN
faba-177	21	33	capital	capital	NOUN
faba-177	21	34	,	,	PUNCT
faba-177	21	35	angel	angel	NOUN
faba-177	21	36	investing	investing	NOUN
faba-177	21	37	and	and	CCONJ
faba-177	21	38	bank	bank	NOUN
faba-177	21	39	lending	lending	NOUN
faba-177	21	40	.	.	PUNCT
faba-177	22	1	venture	venture	NOUN
faba-177	22	2	capital	capital	NOUN
faba-177	22	3	and	and	CCONJ
faba-177	22	4	angel	angel	NOUN
faba-177	22	5	investors	investor	NOUN
faba-177	22	6	have	have	AUX
faba-177	22	7	limited	limit	VERB
faba-177	22	8	reach	reach	NOUN
faba-177	22	9	,	,	PUNCT
faba-177	22	10	with	with	ADP
faba-177	22	11	only	only	ADV
faba-177	22	12	1	1	NUM
faba-177	22	13	%	%	NOUN
faba-177	22	14	of	of	ADP
faba-177	22	15	new	new	ADJ
faba-177	22	16	u.s	u.s	PROPN
faba-177	22	17	.	.	PROPN
faba-177	22	18	companies	company	NOUN
faba-177	22	19	raising	raise	VERB
faba-177	22	20	vc	vc	PROPN
faba-177	22	21	funds	fund	NOUN
faba-177	22	22	concentrated	concentrate	VERB
faba-177	22	23	mainly	mainly	ADV
faba-177	22	24	in	in	ADP
faba-177	22	25	technology	technology	NOUN
faba-177	22	26	sectors	sector	NOUN
faba-177	22	27	and	and	CCONJ
faba-177	22	28	urban	urban	ADJ
faba-177	22	29	hubs	hub	NOUN
faba-177	22	30	(	(	PUNCT
faba-177	22	31	knight	knight	NOUN
faba-177	22	32	and	and	CCONJ
faba-177	22	33	lerner	lerner	PROPN
faba-177	22	34	2018	2018	NUM
faba-177	22	35	)	)	PUNCT
faba-177	22	36	.	.	PUNCT
faba-177	23	1	furthermore	furthermore	ADV
faba-177	23	2	,	,	PUNCT
faba-177	23	3	the	the	DET
faba-177	23	4	10x	10x	NUM
faba-177	23	5	return	return	NOUN
faba-177	23	6	expectations	expectation	NOUN
faba-177	23	7	and	and	CCONJ
faba-177	23	8	exit	exit	NOUN
faba-177	23	9	timelines	timeline	NOUN
faba-177	23	10	of	of	ADP
faba-177	23	11	vc	vc	PROPN
faba-177	23	12	do	do	AUX
faba-177	23	13	not	not	PART
faba-177	23	14	match	match	VERB
faba-177	23	15	all	all	DET
faba-177	23	16	business	business	NOUN
faba-177	23	17	models	model	NOUN
faba-177	23	18	,	,	PUNCT
faba-177	23	19	neglecting	neglect	VERB
faba-177	23	20	stable	stable	ADJ
faba-177	23	21	small	small	ADJ
faba-177	23	22	businesses	business	NOUN
faba-177	23	23	in	in	ADP
faba-177	23	24	sectors	sector	NOUN
faba-177	23	25	like	like	ADP
faba-177	23	26	retail	retail	NOUN
faba-177	23	27	,	,	PUNCT
faba-177	23	28	services	service	NOUN
faba-177	23	29	,	,	PUNCT
faba-177	23	30	agriculture	agriculture	NOUN
faba-177	23	31	or	or	CCONJ
faba-177	23	32	restaurants	restaurant	NOUN
faba-177	23	33	(	(	PUNCT
faba-177	23	34	strangler	strangler	NOUN
faba-177	23	35	and	and	CCONJ
faba-177	23	36	jackson	jackson	PROPN
faba-177	23	37	2012	2012	NUM
faba-177	23	38	)	)	PUNCT
faba-177	23	39	.	.	PUNCT
faba-177	24	1	on	on	ADP
faba-177	24	2	the	the	DET
faba-177	24	3	debt	debt	NOUN
faba-177	24	4	side	side	NOUN
faba-177	24	5	,	,	PUNCT
faba-177	24	6	commercial	commercial	ADJ
faba-177	24	7	bank	bank	NOUN
faba-177	24	8	financing	financing	NOUN
faba-177	24	9	is	be	AUX
faba-177	24	10	frequently	frequently	ADV
faba-177	24	11	inaccessible	inaccessible	ADJ
faba-177	24	12	for	for	ADP
faba-177	24	13	early	early	ADJ
faba-177	24	14	-	-	PUNCT
faba-177	24	15	stage	stage	NOUN
faba-177	24	16	ventures	venture	NOUN
faba-177	24	17	without	without	ADP
faba-177	24	18	stable	stable	ADJ
faba-177	24	19	cash	cash	NOUN
faba-177	24	20	flows	flow	NOUN
faba-177	24	21	or	or	CCONJ
faba-177	24	22	collateral	collateral	NOUN
faba-177	24	23	to	to	PART
faba-177	24	24	secure	secure	VERB
faba-177	24	25	loans	loan	NOUN
faba-177	24	26	.	.	PUNCT
faba-177	25	1	thus	thus	ADV
faba-177	25	2	,	,	PUNCT
faba-177	25	3	large	large	ADJ
faba-177	25	4	segments	segment	NOUN
faba-177	25	5	of	of	ADP
faba-177	25	6	the	the	DET
faba-177	25	7	entrepreneurial	entrepreneurial	ADJ
faba-177	25	8	ecosystem	ecosystem	NOUN
faba-177	25	9	remain	remain	VERB
faba-177	25	10	underserved	underserved	ADJ
faba-177	25	11	by	by	ADP
faba-177	25	12	conventional	conventional	ADJ
faba-177	25	13	startup	startup	NOUN
faba-177	25	14	funding	funding	NOUN
faba-177	25	15	channels	channel	NOUN
faba-177	25	16	.	.	PUNCT
faba-177	26	1	equity	equity	NOUN
faba-177	26	2	crowdfunding	crowdfunding	NOUN
faba-177	26	3	can	can	AUX
faba-177	26	4	address	address	VERB
faba-177	26	5	this	this	DET
faba-177	26	6	critical	critical	ADJ
faba-177	26	7	financing	financing	NOUN
faba-177	26	8	gap	gap	NOUN
faba-177	26	9	by	by	ADP
faba-177	26	10	connecting	connect	VERB
faba-177	26	11	high	high	ADJ
faba-177	26	12	potential	potential	ADJ
faba-177	26	13	seedstage	seedstage	NOUN
faba-177	26	14	companies	company	NOUN
faba-177	26	15	with	with	ADP
faba-177	26	16	everyday	everyday	ADJ
faba-177	26	17	investors	investor	NOUN
faba-177	26	18	beyond	beyond	ADP
faba-177	26	19	just	just	ADV
faba-177	26	20	accredited	accredited	ADJ
faba-177	26	21	investors	investor	NOUN
faba-177	26	22	and	and	CCONJ
faba-177	26	23	institutions	institution	NOUN
faba-177	26	24	(	(	PUNCT
faba-177	26	25	cox	cox	PROPN
faba-177	26	26	2016	2016	NUM
faba-177	26	27	)	)	PUNCT
faba-177	26	28	.	.	PUNCT
faba-177	27	1	for	for	ADP
faba-177	27	2	entrepreneurs	entrepreneur	NOUN
faba-177	27	3	,	,	PUNCT
faba-177	27	4	equity	equity	NOUN
faba-177	27	5	crowdfunding	crowdfunding	NOUN
faba-177	27	6	provides	provide	VERB
faba-177	27	7	an	an	DET
faba-177	27	8	alternative	alternative	ADJ
faba-177	27	9	source	source	NOUN
faba-177	27	10	of	of	ADP
faba-177	27	11	patient	patient	ADJ
faba-177	27	12	growth	growth	NOUN
faba-177	27	13	capital	capital	NOUN
faba-177	27	14	without	without	ADP
faba-177	27	15	control	control	NOUN
faba-177	27	16	or	or	CCONJ
faba-177	27	17	collateral	collateral	ADJ
faba-177	27	18	requirements	requirement	NOUN
faba-177	27	19	of	of	ADP
faba-177	27	20	commercial	commercial	ADJ
faba-177	27	21	debt	debt	NOUN
faba-177	27	22	(	(	PUNCT
faba-177	27	23	vulkan	vulkan	PROPN
faba-177	27	24	et	et	PROPN
faba-177	27	25	al	al	PROPN
faba-177	27	26	.	.	PROPN
faba-177	27	27	2016	2016	NUM
faba-177	27	28	)	)	PUNCT
faba-177	27	29	.	.	PUNCT
faba-177	28	1	the	the	DET
faba-177	28	2	online	online	ADJ
faba-177	28	3	model	model	NOUN
faba-177	28	4	gives	give	VERB
faba-177	28	5	simultaneous	simultaneous	ADJ
faba-177	28	6	access	access	NOUN
faba-177	28	7	to	to	ADP
faba-177	28	8	a	a	DET
faba-177	28	9	large	large	ADJ
faba-177	28	10	base	base	NOUN
faba-177	28	11	of	of	ADP
faba-177	28	12	potential	potential	ADJ
faba-177	28	13	investors	investor	NOUN
faba-177	28	14	beyond	beyond	ADP
faba-177	28	15	just	just	ADV
faba-177	28	16	local	local	ADJ
faba-177	28	17	networks	network	NOUN
faba-177	28	18	.	.	PUNCT
faba-177	29	1	the	the	DET
faba-177	29	2	hive	hive	NOUN
faba-177	29	3	-	-	PUNCT
faba-177	29	4	minded	minded	ADJ
faba-177	29	5	wisdom	wisdom	NOUN
faba-177	29	6	of	of	ADP
faba-177	29	7	crowds	crowd	NOUN
faba-177	29	8	also	also	ADV
faba-177	29	9	helps	help	VERB
faba-177	29	10	validate	validate	VERB
faba-177	29	11	and	and	CCONJ
faba-177	29	12	value	value	VERB
faba-177	29	13	early	early	ADJ
faba-177	29	14	-	-	PUNCT
faba-177	29	15	stage	stage	NOUN
faba-177	29	16	companies	company	NOUN
faba-177	29	17	,	,	PUNCT
faba-177	29	18	mitigating	mitigate	VERB
faba-177	29	19	risks	risk	NOUN
faba-177	29	20	(	(	PUNCT
faba-177	29	21	mollick	mollick	NOUN
faba-177	29	22	and	and	CCONJ
faba-177	29	23	nanda	nanda	ADV
faba-177	29	24	2015	2015	NUM
faba-177	29	25	)	)	PUNCT
faba-177	29	26	.	.	PUNCT
faba-177	30	1	the	the	DET
faba-177	30	2	investors	investor	NOUN
faba-177	30	3	can	can	AUX
faba-177	30	4	participate	participate	VERB
faba-177	30	5	with	with	ADP
faba-177	30	6	relatively	relatively	ADV
faba-177	30	7	small	small	ADJ
faba-177	30	8	amounts	amount	NOUN
faba-177	30	9	of	of	ADP
faba-177	30	10	$	$	SYM
faba-177	30	11	100	100	NUM
faba-177	30	12	in	in	ADP
faba-177	30	13	some	some	DET
faba-177	30	14	markets	market	NOUN
faba-177	30	15	,	,	PUNCT
faba-177	30	16	and	and	CCONJ
faba-177	30	17	the	the	DET
faba-177	30	18	public	public	ADJ
faba-177	30	19	disclosures	disclosure	NOUN
faba-177	30	20	help	help	VERB
faba-177	30	21	inform	inform	VERB
faba-177	30	22	investment	investment	NOUN
faba-177	30	23	decisions	decision	NOUN
faba-177	30	24	.	.	PUNCT
faba-177	31	1	for	for	ADP
faba-177	31	2	investors	investor	NOUN
faba-177	31	3	,	,	PUNCT
faba-177	31	4	equity	equity	NOUN
faba-177	31	5	crowdfunding	crowdfunding	NOUN
faba-177	31	6	offers	offer	VERB
faba-177	31	7	the	the	DET
faba-177	31	8	chance	chance	NOUN
faba-177	31	9	to	to	PART
faba-177	31	10	generate	generate	VERB
faba-177	31	11	financial	financial	ADJ
faba-177	31	12	returns	return	NOUN
faba-177	31	13	by	by	ADP
faba-177	31	14	gaining	gain	VERB
faba-177	31	15	exposure	exposure	NOUN
faba-177	31	16	to	to	ADP
faba-177	31	17	high	high	ADJ
faba-177	31	18	-	-	PUNCT
faba-177	31	19	growth	growth	NOUN
faba-177	31	20	startups	startup	NOUN
faba-177	31	21	and	and	CCONJ
faba-177	31	22	innovative	innovative	ADJ
faba-177	31	23	projects	project	NOUN
faba-177	31	24	that	that	PRON
faba-177	31	25	would	would	AUX
faba-177	31	26	otherwise	otherwise	ADV
faba-177	31	27	be	be	AUX
faba-177	31	28	inaccessible	inaccessible	ADJ
faba-177	31	29	(	(	PUNCT
faba-177	31	30	angerer	angerer	PROPN
faba-177	31	31	et	et	PROPN
faba-177	31	32	al	al	PROPN
faba-177	31	33	.	.	PROPN
faba-177	31	34	2021	2021	NUM
faba-177	31	35	)	)	PUNCT
faba-177	31	36	.	.	PUNCT
faba-177	32	1	it	it	PRON
faba-177	32	2	allows	allow	VERB
faba-177	32	3	risk	risk	NOUN
faba-177	32	4	diversification	diversification	NOUN
faba-177	32	5	into	into	ADP
faba-177	32	6	alternative	alternative	ADJ
faba-177	32	7	assets	asset	NOUN
faba-177	32	8	not	not	PART
faba-177	32	9	correlated	correlate	VERB
faba-177	32	10	to	to	ADP
faba-177	32	11	public	public	ADJ
faba-177	32	12	stock	stock	NOUN
faba-177	32	13	markets	market	NOUN
faba-177	32	14	.	.	PUNCT
faba-177	33	1	indonesia	indonesia	PROPN
faba-177	33	2	represents	represent	VERB
faba-177	33	3	an	an	DET
faba-177	33	4	important	important	ADJ
faba-177	33	5	emerging	emerge	VERB
faba-177	33	6	growth	growth	NOUN
faba-177	33	7	market	market	NOUN
faba-177	33	8	for	for	ADP
faba-177	33	9	equity	equity	NOUN
faba-177	33	10	crowdfunding	crowdfunding	NOUN
faba-177	33	11	in	in	ADP
faba-177	33	12	southeast	southeast	PROPN
faba-177	33	13	asia	asia	PROPN
faba-177	33	14	as	as	ADP
faba-177	33	15	the	the	DET
faba-177	33	16	largest	large	ADJ
faba-177	33	17	economy	economy	NOUN
faba-177	33	18	in	in	ADP
faba-177	33	19	the	the	DET
faba-177	33	20	region	region	NOUN
faba-177	33	21	.	.	PUNCT
faba-177	34	1	however	however	ADV
faba-177	34	2	,	,	PUNCT
faba-177	34	3	limited	limited	ADJ
faba-177	34	4	access	access	NOUN
faba-177	34	5	to	to	ADP
faba-177	34	6	startup	startup	NOUN
faba-177	34	7	financing	financing	NOUN
faba-177	34	8	constrains	constrain	VERB
faba-177	34	9	growth	growth	NOUN
faba-177	34	10	–	–	PUNCT
faba-177	34	11	30	30	NUM
faba-177	34	12	%	%	NOUN
faba-177	34	13	of	of	ADP
faba-177	34	14	indonesian	indonesian	ADJ
faba-177	34	15	startups	startup	NOUN
faba-177	34	16	cite	cite	VERB
faba-177	34	17	lack	lack	NOUN
faba-177	34	18	of	of	ADP
faba-177	34	19	capital	capital	NOUN
faba-177	34	20	as	as	ADP
faba-177	34	21	the	the	DET
faba-177	34	22	biggest	big	ADJ
faba-177	34	23	obstacle	obstacle	NOUN
faba-177	34	24	,	,	PUNCT
faba-177	34	25	higher	high	ADJ
faba-177	34	26	than	than	ADP
faba-177	34	27	regional	regional	ADJ
faba-177	34	28	peers	peer	NOUN
faba-177	34	29	(	(	PUNCT
faba-177	34	30	kharnaetin	kharnaetin	PROPN
faba-177	34	31	2019	2019	NUM
faba-177	34	32	)	)	PUNCT
faba-177	34	33	.	.	PUNCT
faba-177	35	1	venture	venture	NOUN
faba-177	35	2	capital	capital	NOUN
faba-177	35	3	funding	funding	NOUN
faba-177	35	4	remains	remain	VERB
faba-177	35	5	low	low	ADJ
faba-177	35	6	at	at	ADP
faba-177	35	7	just	just	ADV
faba-177	35	8	0.024	0.024	NUM
faba-177	35	9	%	%	NOUN
faba-177	35	10	of	of	ADP
faba-177	35	11	gdp	gdp	NOUN
faba-177	35	12	compared	compare	VERB
faba-177	35	13	to	to	ADP
faba-177	35	14	0.094	0.094	NUM
faba-177	35	15	%	%	NOUN
faba-177	35	16	in	in	ADP
faba-177	35	17	malaysia	malaysia	PROPN
faba-177	35	18	and	and	CCONJ
faba-177	35	19	0.140	0.140	NUM
faba-177	35	20	%	%	NOUN
faba-177	35	21	in	in	ADP
faba-177	35	22	singapore	singapore	PROPN
faba-177	35	23	(	(	PUNCT
faba-177	35	24	galaxy	galaxy	VERB
faba-177	35	25	digital	digital	ADJ
faba-177	35	26	2021	2021	NUM
faba-177	35	27	)	)	PUNCT
faba-177	35	28	.	.	PUNCT
faba-177	36	1	on	on	ADP
faba-177	36	2	the	the	DET
faba-177	36	3	debt	debt	NOUN
faba-177	36	4	side	side	NOUN
faba-177	36	5	,	,	PUNCT
faba-177	36	6	over	over	ADP
faba-177	36	7	50	50	NUM
faba-177	36	8	%	%	NOUN
faba-177	36	9	of	of	ADP
faba-177	36	10	smes	sme	NOUN
faba-177	36	11	lack	lack	NOUN
faba-177	36	12	access	access	NOUN
faba-177	36	13	to	to	ADP
faba-177	36	14	bank	bank	NOUN
faba-177	36	15	lending	lending	NOUN
faba-177	36	16	(	(	PUNCT
faba-177	36	17	nasution	nasution	NOUN
faba-177	36	18	2020	2020	NUM
faba-177	36	19	)	)	PUNCT
faba-177	36	20	.	.	PUNCT
faba-177	37	1	equity	equity	NOUN
faba-177	37	2	crowdfunding	crowdfunding	NOUN
faba-177	37	3	helps	help	VERB
faba-177	37	4	address	address	VERB
faba-177	37	5	this	this	DET
faba-177	37	6	gap	gap	NOUN
faba-177	37	7	by	by	ADP
faba-177	37	8	connecting	connect	VERB
faba-177	37	9	promising	promising	ADJ
faba-177	37	10	local	local	ADJ
faba-177	37	11	startups	startup	NOUN
faba-177	37	12	and	and	CCONJ
faba-177	37	13	smes	sme	NOUN
faba-177	37	14	with	with	ADP
faba-177	37	15	potential	potential	ADJ
faba-177	37	16	investors	investor	NOUN
faba-177	37	17	online	online	ADV
faba-177	37	18	.	.	PUNCT
faba-177	38	1	indonesia	indonesia	PROPN
faba-177	38	2	’s	’s	PART
faba-177	38	3	financial	financial	PROPN
faba-177	38	4	services	service	NOUN
faba-177	38	5	authority	authority	NOUN
faba-177	38	6	,	,	PUNCT
faba-177	38	7	otoritas	otoritas	PROPN
faba-177	38	8	jasa	jasa	PROPN
faba-177	38	9	keuangan	keuangan	PROPN
faba-177	38	10	(	(	PUNCT
faba-177	38	11	ojk	ojk	NOUN
faba-177	38	12	)	)	PUNCT
faba-177	38	13	,	,	PUNCT
faba-177	38	14	legalized	legalize	VERB
faba-177	38	15	equity	equity	NOUN
faba-177	38	16	crowdfunding	crowdfunding	NOUN
faba-177	38	17	in	in	ADP
faba-177	38	18	2016	2016	NUM
faba-177	38	19	through	through	ADP
faba-177	38	20	new	new	ADJ
faba-177	38	21	regulations	regulation	NOUN
faba-177	38	22	allowing	allow	VERB
faba-177	38	23	small	small	ADJ
faba-177	38	24	companies	company	NOUN
faba-177	38	25	to	to	PART
faba-177	38	26	raise	raise	VERB
faba-177	38	27	up	up	ADP
faba-177	38	28	to	to	PART
faba-177	38	29	idr	idr	VERB
faba-177	38	30	10	10	NUM
faba-177	38	31	billion	billion	NUM
faba-177	38	32	(	(	PUNCT
faba-177	38	33	~$700k	~$700k	NOUN
faba-177	38	34	)	)	PUNCT
faba-177	38	35	from	from	ADP
faba-177	38	36	retail	retail	ADJ
faba-177	38	37	investors	investor	NOUN
faba-177	38	38	without	without	ADP
faba-177	38	39	full	full	ADJ
faba-177	38	40	public	public	ADJ
faba-177	38	41	listing	listing	NOUN
faba-177	38	42	(	(	PUNCT
faba-177	38	43	novitasari	novitasari	ADJ
faba-177	38	44	2018	2018	NUM
faba-177	38	45	)	)	PUNCT
faba-177	38	46	.	.	PUNCT
faba-177	39	1	this	this	DET
faba-177	39	2	regulatory	regulatory	ADJ
faba-177	39	3	shift	shift	NOUN
faba-177	39	4	enabled	enable	VERB
faba-177	39	5	the	the	DET
faba-177	39	6	emergence	emergence	NOUN
faba-177	39	7	of	of	ADP
faba-177	39	8	over	over	ADP
faba-177	39	9	two	two	NUM
faba-177	39	10	dozen	dozen	NOUN
faba-177	39	11	homegrown	homegrown	ADJ
faba-177	39	12	equity	equity	NOUN
faba-177	39	13	crowdfunding	crowdfunding	NOUN
faba-177	39	14	platforms	platform	NOUN
faba-177	39	15	like	like	ADP
faba-177	39	16	landx	landx	PROPN
faba-177	39	17	,	,	PUNCT
faba-177	39	18	prive	prive	ADJ
faba-177	39	19	,	,	PUNCT
faba-177	39	20	investree	investree	ADJ
faba-177	39	21	,	,	PUNCT
faba-177	39	22	crowdo	crowdo	NOUN
faba-177	39	23	and	and	CCONJ
faba-177	39	24	others	other	NOUN
faba-177	39	25	.	.	PUNCT
faba-177	40	1	however	however	ADV
faba-177	40	2	,	,	PUNCT
faba-177	40	3	equity	equity	NOUN
faba-177	40	4	crowdfunding	crowdfunding	NOUN
faba-177	40	5	remains	remain	VERB
faba-177	40	6	a	a	DET
faba-177	40	7	nascent	nascent	ADJ
faba-177	40	8	industry	industry	NOUN
faba-177	40	9	in	in	ADP
faba-177	40	10	indonesia	indonesia	PROPN
faba-177	40	11	compared	compare	VERB
faba-177	40	12	to	to	ADP
faba-177	40	13	leading	lead	VERB
faba-177	40	14	markets	market	NOUN
faba-177	40	15	like	like	ADP
faba-177	40	16	the	the	DET
faba-177	40	17	united	united	PROPN
faba-177	40	18	states	states	PROPN
faba-177	40	19	and	and	CCONJ
faba-177	40	20	united	united	ADJ
faba-177	40	21	kingdom	kingdom	PROPN
faba-177	40	22	.	.	PUNCT
faba-177	41	1	although	although	SCONJ
faba-177	41	2	transaction	transaction	NOUN
faba-177	41	3	values	value	NOUN
faba-177	41	4	grew	grow	VERB
faba-177	41	5	from	from	ADP
faba-177	41	6	idr	idr	PROPN
faba-177	41	7	12	12	NUM
faba-177	41	8	billion	billion	NUM
faba-177	41	9	in	in	ADP
faba-177	41	10	2018	2018	NUM
faba-177	41	11	to	to	PART
faba-177	41	12	idr	idr	VERB
faba-177	41	13	271	271	NUM
faba-177	41	14	billion	billion	NUM
faba-177	41	15	in	in	ADP
faba-177	41	16	2020	2020	NUM
faba-177	41	17	,	,	PUNCT
faba-177	41	18	indonesia	indonesia	PROPN
faba-177	41	19	still	still	ADV
faba-177	41	20	only	only	ADV
faba-177	41	21	accounted	account	VERB
faba-177	41	22	for	for	ADP
faba-177	41	23	0.3	0.3	NUM
faba-177	41	24	%	%	NOUN
faba-177	41	25	of	of	ADP
faba-177	41	26	the	the	DET
faba-177	41	27	global	global	ADJ
faba-177	41	28	market	market	NOUN
faba-177	41	29	,	,	PUNCT
faba-177	41	30	pointing	point	VERB
faba-177	41	31	to	to	ADP
faba-177	41	32	substantial	substantial	ADJ
faba-177	41	33	room	room	NOUN
faba-177	41	34	for	for	ADP
faba-177	41	35	further	further	ADJ
faba-177	41	36	development	development	NOUN
faba-177	41	37	(	(	PUNCT
faba-177	41	38	ojk	ojk	NOUN
faba-177	41	39	2021	2021	NUM
faba-177	41	40	)	)	PUNCT
faba-177	41	41	.	.	PUNCT
faba-177	42	1	while	while	SCONJ
faba-177	42	2	transaction	transaction	NOUN
faba-177	42	3	values	value	NOUN
faba-177	42	4	have	have	AUX
faba-177	42	5	grown	grow	VERB
faba-177	42	6	since	since	SCONJ
faba-177	42	7	ojk	ojk	NOUN
faba-177	42	8	's	's	PART
faba-177	42	9	regulation	regulation	NOUN
faba-177	42	10	of	of	ADP
faba-177	42	11	equity	equity	NOUN
faba-177	42	12	crowdfunding	crowdfunding	NOUN
faba-177	42	13	in	in	ADP
faba-177	42	14	2016	2016	NUM
faba-177	42	15	,	,	PUNCT
faba-177	42	16	progress	progress	NOUN
faba-177	42	17	has	have	AUX
faba-177	42	18	not	not	PART
faba-177	42	19	been	be	AUX
faba-177	42	20	as	as	ADV
faba-177	42	21	rapid	rapid	ADJ
faba-177	42	22	as	as	ADP
faba-177	42	23	anticipated	anticipate	VERB
faba-177	42	24	.	.	PUNCT
faba-177	43	1	several	several	ADJ
faba-177	43	2	interrelated	interrelated	ADJ
faba-177	43	3	factors	factor	NOUN
faba-177	43	4	constrain	constrain	VERB
faba-177	43	5	more	more	ADV
faba-177	43	6	widespread	widespread	ADJ
faba-177	43	7	adoption	adoption	NOUN
faba-177	43	8	and	and	CCONJ
faba-177	43	9	success	success	NOUN
faba-177	43	10	in	in	ADP
faba-177	43	11	indonesia	indonesia	PROPN
faba-177	43	12	.	.	PUNCT
faba-177	44	1	firstly	firstly	ADV
faba-177	44	2	,	,	PUNCT
faba-177	44	3	financial	financial	ADJ
faba-177	44	4	literacy	literacy	NOUN
faba-177	44	5	and	and	CCONJ
faba-177	44	6	investment	investment	NOUN
faba-177	44	7	sophistication	sophistication	NOUN
faba-177	44	8	remain	remain	VERB
faba-177	44	9	limited	limited	ADJ
faba-177	44	10	for	for	ADP
faba-177	44	11	many	many	ADJ
faba-177	44	12	potential	potential	ADJ
faba-177	44	13	investors	investor	NOUN
faba-177	44	14	.	.	PUNCT
faba-177	45	1	according	accord	VERB
faba-177	45	2	to	to	ADP
faba-177	45	3	an	an	DET
faba-177	45	4	ojk	ojk	NOUN
faba-177	45	5	survey	survey	NOUN
faba-177	45	6	,	,	PUNCT
faba-177	45	7	only	only	ADV
faba-177	45	8	29.7	29.7	NUM
faba-177	45	9	%	%	NOUN
faba-177	45	10	of	of	ADP
faba-177	45	11	indonesians	indonesians	PROPN
faba-177	45	12	have	have	AUX
faba-177	45	13	invested	invest	VERB
faba-177	45	14	in	in	ADP
faba-177	45	15	financial	financial	ADJ
faba-177	45	16	products	product	NOUN
faba-177	45	17	,	,	PUNCT
faba-177	45	18	pointing	point	VERB
faba-177	45	19	to	to	ADP
faba-177	45	20	unfamiliarity	unfamiliarity	NOUN
faba-177	45	21	with	with	ADP
faba-177	45	22	securities	security	NOUN
faba-177	45	23	and	and	CCONJ
faba-177	45	24	equity	equity	NOUN
faba-177	45	25	investments	investment	NOUN
faba-177	45	26	(	(	PUNCT
faba-177	45	27	satriyo	satriyo	NOUN
faba-177	45	28	and	and	CCONJ
faba-177	45	29	sutrisno	sutrisno	ADJ
faba-177	45	30	2021	2021	NUM
faba-177	45	31	)	)	PUNCT
faba-177	45	32	.	.	PUNCT
faba-177	46	1	most	most	ADJ
faba-177	46	2	lack	lack	NOUN
faba-177	46	3	experience	experience	NOUN
faba-177	46	4	evaluating	evaluate	VERB
faba-177	46	5	private	private	ADJ
faba-177	46	6	companies	company	NOUN
faba-177	46	7	as	as	SCONJ
faba-177	46	8	they	they	PRON
faba-177	46	9	transition	transition	VERB
faba-177	46	10	from	from	ADP
faba-177	46	11	public	public	ADJ
faba-177	46	12	stocks	stock	NOUN
faba-177	46	13	and	and	CCONJ
faba-177	46	14	fixed	fix	VERB
faba-177	46	15	income	income	NOUN
faba-177	46	16	.	.	PUNCT
faba-177	47	1	their	their	PRON
faba-177	47	2	ability	ability	NOUN
faba-177	47	3	to	to	PART
faba-177	47	4	conduct	conduct	VERB
faba-177	47	5	due	due	ADJ
faba-177	47	6	diligence	diligence	NOUN
faba-177	47	7	and	and	CCONJ
faba-177	47	8	assess	assess	NOUN
faba-177	47	9	risks	risk	NOUN
faba-177	47	10	is	be	AUX
faba-177	47	11	further	far	ADV
faba-177	47	12	undermined	undermine	VERB
faba-177	47	13	by	by	ADP
faba-177	47	14	generally	generally	ADV
faba-177	47	15	inadequate	inadequate	ADJ
faba-177	47	16	financial	financial	ADJ
faba-177	47	17	literacy	literacy	NOUN
faba-177	47	18	only	only	ADV
faba-177	47	19	38	38	NUM
faba-177	47	20	%	%	NOUN
faba-177	47	21	of	of	ADP
faba-177	47	22	sanjaya	sanjaya	PROPN
faba-177	47	23	and	and	CCONJ
faba-177	47	24	koesrindartoto	koesrindartoto	PROPN
faba-177	47	25	/	/	SYM
faba-177	47	26	finance	finance	NOUN
faba-177	47	27	,	,	PUNCT
faba-177	47	28	accounting	accounting	NOUN
faba-177	47	29	and	and	CCONJ
faba-177	47	30	business	business	NOUN
faba-177	47	31	analysis	analysis	NOUN
faba-177	47	32	,	,	PUNCT
faba-177	47	33	volume	volume	NOUN
faba-177	47	34	5	5	NUM
faba-177	47	35	,	,	PUNCT
faba-177	47	36	issue	issue	NOUN
faba-177	47	37	2	2	NUM
faba-177	47	38	,	,	PUNCT
faba-177	47	39	2023	2023	NUM
faba-177	47	40	175	175	NUM
faba-177	47	41	indonesians	indonesian	NOUN
faba-177	47	42	are	be	AUX
faba-177	47	43	financially	financially	ADV
faba-177	47	44	literate	literate	ADJ
faba-177	47	45	according	accord	VERB
faba-177	47	46	to	to	ADP
faba-177	47	47	oecd	oecd	PROPN
faba-177	47	48	data	data	PROPN
faba-177	47	49	,	,	PUNCT
faba-177	47	50	significantly	significantly	ADV
faba-177	47	51	below	below	ADP
faba-177	47	52	the	the	DET
faba-177	47	53	global	global	ADJ
faba-177	47	54	average	average	NOUN
faba-177	47	55	of	of	ADP
faba-177	47	56	62	62	NUM
faba-177	47	57	%	%	NOUN
faba-177	47	58	(	(	PUNCT
faba-177	47	59	oecd	oecd	PROPN
faba-177	47	60	2020	2020	NUM
faba-177	47	61	)	)	PUNCT
faba-177	47	62	.	.	PUNCT
faba-177	48	1	this	this	PRON
faba-177	48	2	exacerbates	exacerbate	VERB
faba-177	48	3	information	information	NOUN
faba-177	48	4	asymmetry	asymmetry	NOUN
faba-177	48	5	with	with	ADP
faba-177	48	6	issuers	issuer	NOUN
faba-177	48	7	.	.	PUNCT
faba-177	49	1	secondly	secondly	ADV
faba-177	49	2	,	,	PUNCT
faba-177	49	3	oversight	oversight	NOUN
faba-177	49	4	of	of	ADP
faba-177	49	5	funded	funded	ADJ
faba-177	49	6	issuers	issuer	NOUN
faba-177	49	7	remains	remain	VERB
faba-177	49	8	inadequate	inadequate	ADJ
faba-177	49	9	to	to	PART
faba-177	49	10	ensure	ensure	VERB
faba-177	49	11	accountability	accountability	NOUN
faba-177	49	12	and	and	CCONJ
faba-177	49	13	governance	governance	NOUN
faba-177	49	14	standards	standard	NOUN
faba-177	49	15	expected	expect	VERB
faba-177	49	16	by	by	ADP
faba-177	49	17	shareholders	shareholder	NOUN
faba-177	49	18	.	.	PUNCT
faba-177	50	1	according	accord	VERB
faba-177	50	2	to	to	ADP
faba-177	50	3	an	an	DET
faba-177	50	4	ojk	ojk	NOUN
faba-177	50	5	survey	survey	NOUN
faba-177	50	6	,	,	PUNCT
faba-177	50	7	40	40	NUM
faba-177	50	8	%	%	NOUN
faba-177	50	9	of	of	ADP
faba-177	50	10	platforms	platform	NOUN
faba-177	50	11	were	be	AUX
faba-177	50	12	dissatisfied	dissatisfied	ADJ
faba-177	50	13	with	with	ADP
faba-177	50	14	regulations	regulation	NOUN
faba-177	50	15	enabling	enable	VERB
faba-177	50	16	effective	effective	ADJ
faba-177	50	17	post	post	ADJ
faba-177	50	18	-	-	ADJ
faba-177	50	19	funding	funding	ADJ
faba-177	50	20	supervision	supervision	NOUN
faba-177	50	21	(	(	PUNCT
faba-177	50	22	santoso	santoso	NOUN
faba-177	50	23	et	et	PROPN
faba-177	50	24	al	al	PROPN
faba-177	50	25	.	.	PROPN
faba-177	50	26	2022	2022	NUM
faba-177	50	27	)	)	PUNCT
faba-177	50	28	.	.	PUNCT
faba-177	51	1	lack	lack	NOUN
faba-177	51	2	of	of	ADP
faba-177	51	3	stringent	stringent	ADJ
faba-177	51	4	monitoring	monitoring	NOUN
faba-177	51	5	leaves	leave	NOUN
faba-177	51	6	room	room	NOUN
faba-177	51	7	for	for	ADP
faba-177	51	8	fraud	fraud	NOUN
faba-177	51	9	or	or	CCONJ
faba-177	51	10	mismanagement	mismanagement	NOUN
faba-177	51	11	that	that	PRON
faba-177	51	12	undermines	undermine	VERB
faba-177	51	13	investor	investor	NOUN
faba-177	51	14	trust	trust	NOUN
faba-177	51	15	.	.	PUNCT
faba-177	52	1	for	for	ADP
faba-177	52	2	example	example	NOUN
faba-177	52	3	,	,	PUNCT
faba-177	52	4	snacks	snack	NOUN
faba-177	52	5	startup	startup	VERB
faba-177	52	6	tanihub	tanihub	PROPN
faba-177	52	7	raised	raise	VERB
faba-177	52	8	idr	idr	PROPN
faba-177	52	9	20	20	NUM
faba-177	52	10	billion	billion	NUM
faba-177	52	11	in	in	ADP
faba-177	52	12	2019	2019	NUM
faba-177	52	13	but	but	CCONJ
faba-177	52	14	subsequently	subsequently	ADV
faba-177	52	15	violated	violate	VERB
faba-177	52	16	reporting	report	VERB
faba-177	52	17	obligations	obligation	NOUN
faba-177	52	18	amidst	amidst	ADP
faba-177	52	19	financial	financial	ADJ
faba-177	52	20	problems	problem	NOUN
faba-177	52	21	(	(	PUNCT
faba-177	52	22	jakarta	jakarta	PROPN
faba-177	52	23	post	post	VERB
faba-177	52	24	2019	2019	NUM
faba-177	52	25	)	)	PUNCT
faba-177	52	26	.	.	PUNCT
faba-177	53	1	thirdly	thirdly	ADV
faba-177	53	2	,	,	PUNCT
faba-177	53	3	ambiguity	ambiguity	NOUN
faba-177	53	4	in	in	ADP
faba-177	53	5	regulations	regulation	NOUN
faba-177	53	6	creates	create	VERB
faba-177	53	7	uncertainty	uncertainty	NOUN
faba-177	53	8	for	for	ADP
faba-177	53	9	platforms	platform	NOUN
faba-177	53	10	regarding	regard	VERB
faba-177	53	11	appropriate	appropriate	ADJ
faba-177	53	12	compliance	compliance	NOUN
faba-177	53	13	standards	standard	NOUN
faba-177	53	14	and	and	CCONJ
faba-177	53	15	liability	liability	NOUN
faba-177	53	16	.	.	PUNCT
faba-177	54	1	although	although	SCONJ
faba-177	54	2	ojk	ojk	NOUN
faba-177	54	3	strengthened	strengthen	VERB
faba-177	54	4	oversight	oversight	NOUN
faba-177	54	5	through	through	ADP
faba-177	54	6	regulation	regulation	NOUN
faba-177	54	7	37/2018	37/2018	NUM
faba-177	54	8	,	,	PUNCT
faba-177	54	9	stipulations	stipulation	NOUN
faba-177	54	10	remain	remain	VERB
faba-177	54	11	unclear	unclear	ADJ
faba-177	54	12	on	on	ADP
faba-177	54	13	issues	issue	NOUN
faba-177	54	14	like	like	ADP
faba-177	54	15	reporting	report	VERB
faba-177	54	16	timelines	timeline	NOUN
faba-177	54	17	,	,	PUNCT
faba-177	54	18	misleading	misleading	ADJ
faba-177	54	19	disclosures	disclosure	NOUN
faba-177	54	20	,	,	PUNCT
faba-177	54	21	platform	platform	NOUN
faba-177	54	22	liability	liability	NOUN
faba-177	54	23	and	and	CCONJ
faba-177	54	24	governance	governance	NOUN
faba-177	54	25	powers	power	NOUN
faba-177	54	26	as	as	ADP
faba-177	54	27	issuers	issuer	NOUN
faba-177	54	28	scale	scale	NOUN
faba-177	54	29	(	(	PUNCT
faba-177	54	30	setiawan	setiawan	PROPN
faba-177	54	31	2018	2018	NUM
faba-177	54	32	)	)	PUNCT
faba-177	54	33	.	.	PUNCT
faba-177	55	1	this	this	DET
faba-177	55	2	lack	lack	NOUN
faba-177	55	3	of	of	ADP
faba-177	55	4	transparency	transparency	NOUN
faba-177	55	5	hinders	hinder	VERB
faba-177	55	6	compliance	compliance	NOUN
faba-177	55	7	.	.	PUNCT
faba-177	56	1	fourthly	fourthly	ADV
faba-177	56	2	,	,	PUNCT
faba-177	56	3	supporting	support	VERB
faba-177	56	4	infrastructure	infrastructure	NOUN
faba-177	56	5	like	like	ADP
faba-177	56	6	auditors	auditor	NOUN
faba-177	56	7	,	,	PUNCT
faba-177	56	8	valuation	valuation	NOUN
faba-177	56	9	experts	expert	NOUN
faba-177	56	10	,	,	PUNCT
faba-177	56	11	credit	credit	NOUN
faba-177	56	12	rating	rating	NOUN
faba-177	56	13	agencies	agency	NOUN
faba-177	56	14	,	,	PUNCT
faba-177	56	15	and	and	CCONJ
faba-177	56	16	secondary	secondary	ADJ
faba-177	56	17	markets	market	NOUN
faba-177	56	18	remains	remain	VERB
faba-177	56	19	limited	limited	ADJ
faba-177	56	20	though	though	SCONJ
faba-177	56	21	critical	critical	ADJ
faba-177	56	22	for	for	ADP
faba-177	56	23	sector	sector	NOUN
faba-177	56	24	development	development	NOUN
faba-177	56	25	.	.	PUNCT
faba-177	57	1	for	for	ADP
faba-177	57	2	example	example	NOUN
faba-177	57	3	,	,	PUNCT
faba-177	57	4	only	only	ADV
faba-177	57	5	2	2	NUM
faba-177	57	6	%	%	NOUN
faba-177	57	7	of	of	ADP
faba-177	57	8	indonesian	indonesian	ADJ
faba-177	57	9	smes	sme	NOUN
faba-177	57	10	were	be	AUX
faba-177	57	11	credit	credit	NOUN
faba-177	57	12	rated	rate	VERB
faba-177	57	13	as	as	ADP
faba-177	57	14	of	of	ADP
faba-177	57	15	2020	2020	NUM
faba-177	57	16	(	(	PUNCT
faba-177	57	17	adiputra	adiputra	ADJ
faba-177	57	18	2020	2020	NUM
faba-177	57	19	)	)	PUNCT
faba-177	57	20	.	.	PUNCT
faba-177	58	1	fifthly	fifthly	ADV
faba-177	58	2	,	,	PUNCT
faba-177	58	3	equity	equity	NOUN
faba-177	58	4	crowdfunding	crowdfunding	NOUN
faba-177	58	5	activity	activity	NOUN
faba-177	58	6	remains	remain	VERB
faba-177	58	7	highly	highly	ADV
faba-177	58	8	concentrated	concentrated	ADJ
faba-177	58	9	in	in	ADP
faba-177	58	10	urban	urban	ADJ
faba-177	58	11	areas	area	NOUN
faba-177	58	12	of	of	ADP
faba-177	58	13	java	java	PROPN
faba-177	58	14	,	,	PUNCT
faba-177	58	15	limiting	limit	VERB
faba-177	58	16	inclusive	inclusive	ADJ
faba-177	58	17	nationwide	nationwide	ADJ
faba-177	58	18	access	access	NOUN
faba-177	58	19	.	.	PUNCT
faba-177	59	1	according	accord	VERB
faba-177	59	2	to	to	ADP
faba-177	59	3	industry	industry	NOUN
faba-177	59	4	data	datum	NOUN
faba-177	59	5	,	,	PUNCT
faba-177	59	6	89	89	NUM
faba-177	59	7	%	%	NOUN
faba-177	59	8	of	of	ADP
faba-177	59	9	indonesia	indonesia	PROPN
faba-177	59	10	's	's	PART
faba-177	59	11	equity	equity	NOUN
faba-177	59	12	crowdfunding	crowdfunding	NOUN
faba-177	59	13	platforms	platform	NOUN
faba-177	59	14	are	be	AUX
faba-177	59	15	based	base	VERB
faba-177	59	16	in	in	ADP
faba-177	59	17	jakarta	jakarta	PROPN
faba-177	59	18	as	as	ADP
faba-177	59	19	of	of	ADP
faba-177	59	20	2022	2022	NUM
faba-177	59	21	.	.	PUNCT
faba-177	60	1	issuers	issuer	NOUN
faba-177	60	2	and	and	CCONJ
faba-177	60	3	investors	investor	NOUN
faba-177	60	4	located	locate	VERB
faba-177	60	5	outside	outside	ADP
faba-177	60	6	of	of	ADP
faba-177	60	7	major	major	ADJ
faba-177	60	8	hubs	hub	NOUN
faba-177	60	9	like	like	ADP
faba-177	60	10	jakarta	jakarta	PROPN
faba-177	60	11	,	,	PUNCT
faba-177	60	12	surabaya	surabaya	PROPN
faba-177	60	13	and	and	CCONJ
faba-177	60	14	bandung	bandung	PROPN
faba-177	60	15	face	face	NOUN
faba-177	60	16	constraints	constraint	NOUN
faba-177	60	17	accessing	access	VERB
faba-177	60	18	this	this	DET
faba-177	60	19	alternative	alternative	ADJ
faba-177	60	20	finance	finance	NOUN
faba-177	60	21	option	option	NOUN
faba-177	60	22	.	.	PUNCT
faba-177	61	1	together	together	ADV
faba-177	61	2	,	,	PUNCT
faba-177	61	3	these	these	DET
faba-177	61	4	interrelated	interrelated	ADJ
faba-177	61	5	challenges	challenge	NOUN
faba-177	61	6	have	have	AUX
faba-177	61	7	constrained	constrain	VERB
faba-177	61	8	more	more	ADV
faba-177	61	9	widespread	widespread	ADJ
faba-177	61	10	adoption	adoption	NOUN
faba-177	61	11	and	and	CCONJ
faba-177	61	12	sustainable	sustainable	ADJ
faba-177	61	13	success	success	NOUN
faba-177	61	14	of	of	ADP
faba-177	61	15	equity	equity	NOUN
faba-177	61	16	crowdfunding	crowdfunding	NOUN
faba-177	61	17	across	across	ADP
faba-177	61	18	indonesia	indonesia	PROPN
faba-177	61	19	's	's	PART
faba-177	61	20	diverse	diverse	ADJ
faba-177	61	21	entrepreneurial	entrepreneurial	ADJ
faba-177	61	22	ecosystem	ecosystem	NOUN
faba-177	61	23	.	.	PUNCT
faba-177	62	1	targeted	target	VERB
faba-177	62	2	efforts	effort	NOUN
faba-177	62	3	to	to	PART
faba-177	62	4	improve	improve	VERB
faba-177	62	5	financial	financial	ADJ
faba-177	62	6	literacy	literacy	NOUN
faba-177	62	7	,	,	PUNCT
faba-177	62	8	strengthen	strengthen	VERB
faba-177	62	9	compliance	compliance	NOUN
faba-177	62	10	and	and	CCONJ
faba-177	62	11	oversight	oversight	NOUN
faba-177	62	12	frameworks	framework	NOUN
faba-177	62	13	,	,	PUNCT
faba-177	62	14	enhance	enhance	VERB
faba-177	62	15	supporting	support	VERB
faba-177	62	16	infrastructure	infrastructure	NOUN
faba-177	62	17	,	,	PUNCT
faba-177	62	18	and	and	CCONJ
faba-177	62	19	expand	expand	VERB
faba-177	62	20	geographic	geographic	ADJ
faba-177	62	21	outreach	outreach	NOUN
faba-177	62	22	could	could	AUX
faba-177	62	23	help	help	VERB
faba-177	62	24	restore	restore	VERB
faba-177	62	25	investor	investor	NOUN
faba-177	62	26	confidence	confidence	NOUN
faba-177	62	27	and	and	CCONJ
faba-177	62	28	build	build	VERB
faba-177	62	29	a	a	DET
faba-177	62	30	transparent	transparent	ADJ
faba-177	62	31	,	,	PUNCT
faba-177	62	32	accountable	accountable	ADJ
faba-177	62	33	ecosystem	ecosystem	NOUN
faba-177	62	34	.	.	PUNCT
faba-177	63	1	equity	equity	NOUN
faba-177	63	2	crowdfunding	crowdfunding	NOUN
faba-177	63	3	carries	carry	VERB
faba-177	63	4	strong	strong	ADJ
faba-177	63	5	promise	promise	NOUN
faba-177	63	6	in	in	ADP
faba-177	63	7	the	the	DET
faba-177	63	8	indonesian	indonesian	ADJ
faba-177	63	9	context	context	NOUN
faba-177	63	10	given	give	VERB
faba-177	63	11	the	the	DET
faba-177	63	12	limited	limited	ADJ
faba-177	63	13	activity	activity	NOUN
faba-177	63	14	in	in	ADP
faba-177	63	15	venture	venture	NOUN
faba-177	63	16	capital	capital	NOUN
faba-177	63	17	,	,	PUNCT
faba-177	63	18	with	with	ADP
faba-177	63	19	early	early	ADJ
faba-177	63	20	stage	stage	NOUN
faba-177	63	21	funding	funding	NOUN
faba-177	63	22	rates	rate	NOUN
faba-177	63	23	around	around	ADV
faba-177	63	24	3	3	NUM
faba-177	63	25	%	%	NOUN
faba-177	63	26	compared	compare	VERB
faba-177	63	27	to	to	ADP
faba-177	63	28	11	11	NUM
faba-177	63	29	%	%	NOUN
faba-177	63	30	globally	globally	ADV
faba-177	63	31	(	(	PUNCT
faba-177	63	32	oecd	oecd	PROPN
faba-177	63	33	2019	2019	NUM
faba-177	63	34	;	;	PUNCT
faba-177	63	35	cumming	cumming	NOUN
faba-177	63	36	and	and	CCONJ
faba-177	63	37	johan	johan	PROPN
faba-177	63	38	2019	2019	NUM
faba-177	63	39	)	)	PUNCT
faba-177	63	40	.	.	PUNCT
faba-177	64	1	surveys	survey	NOUN
faba-177	64	2	indicate	indicate	VERB
faba-177	64	3	the	the	DET
faba-177	64	4	top	top	ADJ
faba-177	64	5	motivations	motivation	NOUN
faba-177	64	6	are	be	AUX
faba-177	64	7	accessing	access	VERB
faba-177	64	8	growth	growth	NOUN
faba-177	64	9	capital	capital	NOUN
faba-177	64	10	and	and	CCONJ
faba-177	64	11	branding	branding	NOUN
faba-177	64	12	benefits	benefit	NOUN
faba-177	64	13	for	for	ADP
faba-177	64	14	entrepreneurs	entrepreneur	NOUN
faba-177	64	15	,	,	PUNCT
faba-177	64	16	while	while	SCONJ
faba-177	64	17	investors	investor	NOUN
faba-177	64	18	are	be	AUX
faba-177	64	19	drawn	draw	VERB
faba-177	64	20	by	by	ADP
faba-177	64	21	returns	return	NOUN
faba-177	64	22	and	and	CCONJ
faba-177	64	23	supporting	support	VERB
faba-177	64	24	ventures	venture	NOUN
faba-177	64	25	(	(	PUNCT
faba-177	64	26	santoso	santoso	NOUN
faba-177	64	27	et	et	PROPN
faba-177	64	28	al	al	PROPN
faba-177	64	29	.	.	PROPN
faba-177	64	30	2022	2022	NUM
faba-177	64	31	)	)	PUNCT
faba-177	64	32	.	.	PUNCT
faba-177	65	1	however	however	ADV
faba-177	65	2	,	,	PUNCT
faba-177	65	3	fraud	fraud	NOUN
faba-177	65	4	concerns	concern	NOUN
faba-177	65	5	also	also	ADV
faba-177	65	6	constrain	constrain	VERB
faba-177	65	7	adoption	adoption	NOUN
faba-177	65	8	,	,	PUNCT
faba-177	65	9	with	with	ADP
faba-177	65	10	62	62	NUM
faba-177	65	11	%	%	NOUN
faba-177	65	12	of	of	ADP
faba-177	65	13	non	non	ADJ
faba-177	65	14	-	-	ADJ
faba-177	65	15	participating	participate	VERB
faba-177	65	16	internet	internet	NOUN
faba-177	65	17	users	user	NOUN
faba-177	65	18	citing	cite	VERB
faba-177	65	19	fraud	fraud	NOUN
faba-177	65	20	risk	risk	NOUN
faba-177	65	21	(	(	PUNCT
faba-177	65	22	kpmg	kpmg	PROPN
faba-177	65	23	2022	2022	NUM
faba-177	65	24	)	)	PUNCT
faba-177	65	25	.	.	PUNCT
faba-177	66	1	this	this	PRON
faba-177	66	2	underscores	underscore	VERB
faba-177	66	3	the	the	DET
faba-177	66	4	need	need	NOUN
faba-177	66	5	for	for	ADP
faba-177	66	6	research	research	NOUN
faba-177	66	7	examining	examine	VERB
faba-177	66	8	how	how	SCONJ
faba-177	66	9	platforms	platform	NOUN
faba-177	66	10	evaluate	evaluate	VERB
faba-177	66	11	and	and	CCONJ
faba-177	66	12	select	select	ADJ
faba-177	66	13	issuers	issuer	NOUN
faba-177	66	14	,	,	PUNCT
faba-177	66	15	investor	investor	NOUN
faba-177	66	16	decision	decision	NOUN
faba-177	66	17	-	-	PUNCT
faba-177	66	18	making	make	VERB
faba-177	66	19	behaviors	behavior	NOUN
faba-177	66	20	,	,	PUNCT
faba-177	66	21	oversight	oversight	NOUN
faba-177	66	22	efficacy	efficacy	NOUN
faba-177	66	23	,	,	PUNCT
faba-177	66	24	and	and	CCONJ
faba-177	66	25	real	real	ADJ
faba-177	66	26	economic	economic	ADJ
faba-177	66	27	impacts	impact	NOUN
faba-177	66	28	.	.	PUNCT
faba-177	67	1	understanding	understand	VERB
faba-177	67	2	the	the	DET
faba-177	67	3	perspectives	perspective	NOUN
faba-177	67	4	of	of	ADP
faba-177	67	5	platforms	platform	NOUN
faba-177	67	6	as	as	SCONJ
faba-177	67	7	central	central	ADJ
faba-177	67	8	ecosystem	ecosystem	NOUN
faba-177	67	9	actors	actor	NOUN
faba-177	67	10	connecting	connect	VERB
faba-177	67	11	entrepreneurs	entrepreneur	NOUN
faba-177	67	12	and	and	CCONJ
faba-177	67	13	backers	backer	NOUN
faba-177	67	14	can	can	AUX
faba-177	67	15	provide	provide	VERB
faba-177	67	16	particular	particular	ADJ
faba-177	67	17	insight	insight	NOUN
faba-177	67	18	.	.	PUNCT
faba-177	68	1	landx	landx	PROPN
faba-177	68	2	is	be	AUX
faba-177	68	3	one	one	NUM
faba-177	68	4	of	of	ADP
faba-177	68	5	indonesia	indonesia	PROPN
faba-177	68	6	's	's	PART
faba-177	68	7	leading	lead	VERB
faba-177	68	8	equity	equity	NOUN
faba-177	68	9	crowdfunding	crowdfunding	NOUN
faba-177	68	10	platforms	platform	NOUN
faba-177	68	11	,	,	PUNCT
faba-177	68	12	having	having	AUX
faba-177	68	13	facilitated	facilitate	VERB
faba-177	68	14	over	over	ADP
faba-177	68	15	170	170	NUM
faba-177	68	16	funded	funded	ADJ
faba-177	68	17	campaigns	campaign	NOUN
faba-177	68	18	for	for	ADP
faba-177	68	19	smes	sme	NOUN
faba-177	68	20	and	and	CCONJ
faba-177	68	21	startups	startup	NOUN
faba-177	68	22	across	across	ADP
faba-177	68	23	10	10	NUM
faba-177	68	24	+	+	NUM
faba-177	68	25	sectors	sector	NOUN
faba-177	68	26	with	with	ADP
faba-177	68	27	idr	idr	PROPN
faba-177	68	28	130	130	NUM
faba-177	68	29	billion	billion	NUM
faba-177	68	30	in	in	ADP
faba-177	68	31	cumulative	cumulative	ADJ
faba-177	68	32	transactions	transaction	NOUN
faba-177	68	33	since	since	SCONJ
faba-177	68	34	2019	2019	NUM
faba-177	68	35	(	(	PUNCT
faba-177	68	36	landx	landx	NOUN
faba-177	68	37	2022	2022	NUM
faba-177	68	38	)	)	PUNCT
faba-177	68	39	.	.	PUNCT
faba-177	69	1	the	the	DET
faba-177	69	2	minimum	minimum	ADJ
faba-177	69	3	investment	investment	NOUN
faba-177	69	4	is	be	AUX
faba-177	69	5	only	only	ADV
faba-177	69	6	idr	idr	PROPN
faba-177	69	7	1	1	NUM
faba-177	69	8	million	million	NUM
faba-177	69	9	(	(	PUNCT
faba-177	69	10	~$70	~$70	NUM
faba-177	69	11	)	)	PUNCT
faba-177	69	12	,	,	PUNCT
faba-177	69	13	making	make	VERB
faba-177	69	14	it	it	PRON
faba-177	69	15	accessible	accessible	ADJ
faba-177	69	16	for	for	ADP
faba-177	69	17	ordinary	ordinary	ADJ
faba-177	69	18	investors	investor	NOUN
faba-177	69	19	.	.	PUNCT
faba-177	70	1	landx	landx	PROPN
faba-177	70	2	emphasizes	emphasize	VERB
faba-177	70	3	selective	selective	ADJ
faba-177	70	4	screening	screening	NOUN
faba-177	70	5	,	,	PUNCT
faba-177	70	6	investing	invest	VERB
faba-177	70	7	only	only	ADV
faba-177	70	8	in	in	ADP
faba-177	70	9	issuers	issuer	NOUN
faba-177	70	10	with	with	ADP
faba-177	70	11	strong	strong	ADJ
faba-177	70	12	fundamentals	fundamental	NOUN
faba-177	70	13	and	and	CCONJ
faba-177	70	14	growth	growth	NOUN
faba-177	70	15	prospects	prospect	NOUN
faba-177	70	16	.	.	PUNCT
faba-177	71	1	as	as	ADP
faba-177	71	2	an	an	DET
faba-177	71	3	established	established	ADJ
faba-177	71	4	platform	platform	NOUN
faba-177	71	5	,	,	PUNCT
faba-177	71	6	landx	landx	PROPN
faba-177	71	7	provides	provide	VERB
faba-177	71	8	a	a	DET
faba-177	71	9	suitable	suitable	ADJ
faba-177	71	10	revelatory	revelatory	ADJ
faba-177	71	11	case	case	NOUN
faba-177	71	12	study	study	NOUN
faba-177	71	13	to	to	PART
faba-177	71	14	explore	explore	VERB
faba-177	71	15	localized	localized	ADJ
faba-177	71	16	equity	equity	NOUN
faba-177	71	17	crowdfunding	crowdfunding	NOUN
faba-177	71	18	dynamics	dynamic	NOUN
faba-177	71	19	in	in	ADP
faba-177	71	20	indonesia	indonesia	PROPN
faba-177	71	21	.	.	PUNCT
faba-177	72	1	specifically	specifically	ADV
faba-177	72	2	,	,	PUNCT
faba-177	72	3	the	the	DET
faba-177	72	4	due	due	ADJ
faba-177	72	5	diligence	diligence	NOUN
faba-177	72	6	processes	process	NOUN
faba-177	72	7	platforms	platform	NOUN
faba-177	72	8	like	like	ADP
faba-177	72	9	landx	landx	ADJ
faba-177	72	10	use	use	NOUN
faba-177	72	11	to	to	PART
faba-177	72	12	screen	screen	VERB
faba-177	72	13	and	and	CCONJ
faba-177	72	14	select	select	VERB
faba-177	72	15	issuers	issuer	NOUN
faba-177	72	16	for	for	ADP
faba-177	72	17	listing	list	VERB
faba-177	72	18	requires	require	VERB
faba-177	72	19	investigation	investigation	NOUN
faba-177	72	20	given	give	VERB
faba-177	72	21	past	past	ADJ
faba-177	72	22	scandals	scandal	NOUN
faba-177	72	23	related	relate	VERB
faba-177	72	24	to	to	ADP
faba-177	72	25	fraudulent	fraudulent	ADJ
faba-177	72	26	or	or	CCONJ
faba-177	72	27	mismanaged	mismanage	VERB
faba-177	72	28	issuers	issuer	NOUN
faba-177	72	29	in	in	ADP
faba-177	72	30	indonesia	indonesia	PROPN
faba-177	72	31	and	and	CCONJ
faba-177	72	32	other	other	ADJ
faba-177	72	33	markets	market	NOUN
faba-177	72	34	(	(	PUNCT
faba-177	72	35	jenik	jenik	X
faba-177	72	36	et	et	PROPN
faba-177	72	37	al	al	PROPN
faba-177	72	38	.	.	PROPN
faba-177	72	39	2017	2017	NUM
faba-177	72	40	)	)	PUNCT
faba-177	72	41	.	.	PUNCT
faba-177	73	1	questions	question	NOUN
faba-177	73	2	exist	exist	VERB
faba-177	73	3	around	around	ADP
faba-177	73	4	how	how	SCONJ
faba-177	73	5	platforms	platform	NOUN
faba-177	73	6	conduct	conduct	VERB
faba-177	73	7	due	due	ADJ
faba-177	73	8	diligence	diligence	NOUN
faba-177	73	9	,	,	PUNCT
faba-177	73	10	effectiveness	effectiveness	NOUN
faba-177	73	11	in	in	ADP
faba-177	73	12	identifying	identify	VERB
faba-177	73	13	strong	strong	ADJ
faba-177	73	14	issuers	issuer	NOUN
faba-177	73	15	,	,	PUNCT
faba-177	73	16	and	and	CCONJ
faba-177	73	17	how	how	SCONJ
faba-177	73	18	vetting	vetting	NOUN
faba-177	73	19	could	could	AUX
faba-177	73	20	be	be	AUX
faba-177	73	21	enhanced	enhance	VERB
faba-177	73	22	to	to	PART
faba-177	73	23	minimize	minimize	VERB
faba-177	73	24	risks	risk	NOUN
faba-177	73	25	.	.	PUNCT
faba-177	74	1	studies	study	NOUN
faba-177	74	2	in	in	ADP
faba-177	74	3	european	european	ADJ
faba-177	74	4	contexts	context	NOUN
faba-177	74	5	found	find	VERB
faba-177	74	6	due	due	ADJ
faba-177	74	7	diligence	diligence	NOUN
faba-177	74	8	heavily	heavily	ADV
faba-177	74	9	focused	focused	ADJ
faba-177	74	10	on	on	ADP
faba-177	74	11	financials	financial	NOUN
faba-177	74	12	,	,	PUNCT
faba-177	74	13	growth	growth	NOUN
faba-177	74	14	potential	potential	NOUN
faba-177	74	15	and	and	CCONJ
faba-177	74	16	founder	founder	NOUN
faba-177	74	17	characteristics	characteristic	NOUN
faba-177	74	18	,	,	PUNCT
faba-177	74	19	but	but	CCONJ
faba-177	74	20	with	with	ADP
faba-177	74	21	variability	variability	NOUN
faba-177	74	22	in	in	ADP
faba-177	74	23	rigor	rigor	NOUN
faba-177	74	24	across	across	ADP
faba-177	74	25	platforms	platform	NOUN
faba-177	74	26	that	that	PRON
faba-177	74	27	influenced	influence	VERB
faba-177	74	28	outcomes	outcome	NOUN
faba-177	74	29	(	(	PUNCT
faba-177	74	30	vismara	vismara	NOUN
faba-177	74	31	,	,	PUNCT
faba-177	74	32	2018	2018	NUM
faba-177	74	33	;	;	PUNCT
faba-177	74	34	lukkarinen	lukkarinen	PROPN
faba-177	74	35	et	et	PROPN
faba-177	74	36	al	al	PROPN
faba-177	74	37	.	.	PROPN
faba-177	74	38	2016	2016	NUM
faba-177	74	39	)	)	PUNCT
faba-177	74	40	.	.	PUNCT
faba-177	75	1	landx	landx	PROPN
faba-177	75	2	claims	claim	NOUN
faba-177	75	3	to	to	PART
faba-177	75	4	go	go	VERB
faba-177	75	5	beyond	beyond	ADP
faba-177	75	6	financials	financial	NOUN
faba-177	75	7	to	to	PART
faba-177	75	8	assess	assess	VERB
faba-177	75	9	founder	founder	NOUN
faba-177	75	10	integrity	integrity	NOUN
faba-177	75	11	and	and	CCONJ
faba-177	75	12	longterm	longterm	ADJ
faba-177	75	13	sustainability	sustainability	NOUN
faba-177	75	14	.	.	PUNCT
faba-177	76	1	but	but	CCONJ
faba-177	76	2	data	datum	NOUN
faba-177	76	3	is	be	AUX
faba-177	76	4	lacking	lack	VERB
faba-177	76	5	on	on	ADP
faba-177	76	6	metrics	metric	NOUN
faba-177	76	7	used	use	VERB
faba-177	76	8	,	,	PUNCT
faba-177	76	9	predictive	predictive	ADJ
faba-177	76	10	validity	validity	NOUN
faba-177	76	11	,	,	PUNCT
faba-177	76	12	and	and	CCONJ
faba-177	76	13	how	how	SCONJ
faba-177	76	14	indonesia	indonesia	PROPN
faba-177	76	15	's	's	PART
faba-177	76	16	unique	unique	ADJ
faba-177	76	17	digital	digital	ADJ
faba-177	76	18	finance	finance	NOUN
faba-177	76	19	ecosystem	ecosystem	NOUN
faba-177	76	20	shapes	shape	VERB
faba-177	76	21	platform	platform	NOUN
faba-177	76	22	screening	screening	NOUN
faba-177	76	23	versus	versus	ADP
faba-177	76	24	physical	physical	ADJ
faba-177	76	25	contexts	contexts	NOUN
faba-177	76	26	.	.	PUNCT
faba-177	77	1	regarding	regard	VERB
faba-177	77	2	investors	investor	NOUN
faba-177	77	3	,	,	PUNCT
faba-177	77	4	their	their	PRON
faba-177	77	5	incentives	incentive	NOUN
faba-177	77	6	and	and	CCONJ
faba-177	77	7	criteria	criterion	NOUN
faba-177	77	8	for	for	ADP
faba-177	77	9	backing	back	VERB
faba-177	77	10	equity	equity	NOUN
faba-177	77	11	crowdfunding	crowdfunding	NOUN
faba-177	77	12	offerings	offering	NOUN
faba-177	77	13	requires	require	VERB
faba-177	77	14	exploration	exploration	NOUN
faba-177	77	15	given	give	VERB
faba-177	77	16	motivations	motivation	NOUN
faba-177	77	17	span	span	VERB
faba-177	77	18	financial	financial	ADJ
faba-177	77	19	returns	return	NOUN
faba-177	77	20	,	,	PUNCT
faba-177	77	21	passions	passion	NOUN
faba-177	77	22	,	,	PUNCT
faba-177	77	23	altruism	altruism	NOUN
faba-177	77	24	and	and	CCONJ
faba-177	77	25	personal	personal	ADJ
faba-177	77	26	connections	connection	NOUN
faba-177	77	27	to	to	ADP
faba-177	77	28	the	the	DET
faba-177	77	29	issuer	issuer	NOUN
faba-177	77	30	(	(	PUNCT
faba-177	77	31	parhankangas	parhankangas	NOUN
faba-177	77	32	and	and	CCONJ
faba-177	77	33	renko	renko	NOUN
faba-177	77	34	2017	2017	NUM
faba-177	77	35	)	)	PUNCT
faba-177	77	36	.	.	PUNCT
faba-177	78	1	research	research	NOUN
faba-177	78	2	into	into	ADP
faba-177	78	3	whether	whether	SCONJ
faba-177	78	4	indonesian	indonesian	ADJ
faba-177	78	5	retail	retail	ADJ
faba-177	78	6	investors	investor	NOUN
faba-177	78	7	prioritize	prioritize	VERB
faba-177	78	8	due	due	ADJ
faba-177	78	9	diligence	diligence	NOUN
faba-177	78	10	or	or	CCONJ
faba-177	78	11	social	social	ADJ
faba-177	78	12	/	/	SYM
faba-177	78	13	emotional	emotional	ADJ
faba-177	78	14	rewards	reward	NOUN
faba-177	78	15	is	be	AUX
faba-177	78	16	lacking	lack	VERB
faba-177	78	17	.	.	PUNCT
faba-177	79	1	european	european	ADJ
faba-177	79	2	studies	study	NOUN
faba-177	79	3	found	find	VERB
faba-177	79	4	"	"	PUNCT
faba-177	79	5	irrational	irrational	ADJ
faba-177	79	6	exuberance	exuberance	NOUN
faba-177	79	7	”	"	PUNCT
faba-177	79	8	among	among	ADP
faba-177	79	9	some	some	DET
faba-177	79	10	investors	investor	NOUN
faba-177	79	11	,	,	PUNCT
faba-177	79	12	but	but	CCONJ
faba-177	79	13	also	also	ADV
faba-177	79	14	segments	segment	NOUN
faba-177	79	15	motivated	motivate	VERB
faba-177	79	16	by	by	ADP
faba-177	79	17	diversification	diversification	NOUN
faba-177	79	18	and	and	CCONJ
faba-177	79	19	green	green	ADJ
faba-177	79	20	investments	investment	NOUN
faba-177	79	21	(	(	PUNCT
faba-177	79	22	dorfleitner	dorfleitner	NOUN
faba-177	79	23	et	et	PROPN
faba-177	79	24	al	al	PROPN
faba-177	79	25	.	.	PROPN
faba-177	79	26	2022	2022	NUM
faba-177	79	27	;	;	PUNCT
faba-177	79	28	baeck	baeck	PROPN
faba-177	79	29	et	et	PROPN
faba-177	79	30	al	al	PROPN
faba-177	79	31	.	.	PROPN
faba-177	79	32	2014	2014	NUM
faba-177	79	33	)	)	PUNCT
faba-177	79	34	.	.	PUNCT
faba-177	80	1	investor	investor	NOUN
faba-177	80	2	behavior	behavior	NOUN
faba-177	80	3	merits	merit	VERB
faba-177	80	4	investigation	investigation	NOUN
faba-177	80	5	,	,	PUNCT
faba-177	80	6	given	give	VERB
faba-177	80	7	indonesia	indonesia	PROPN
faba-177	80	8	’s	’s	PART
faba-177	80	9	context	context	NOUN
faba-177	80	10	of	of	ADP
faba-177	80	11	newness	newness	NOUN
faba-177	80	12	to	to	ADP
faba-177	80	13	equity	equity	NOUN
faba-177	80	14	investments	investment	NOUN
faba-177	80	15	and	and	CCONJ
faba-177	80	16	digital	digital	ADJ
faba-177	80	17	finance	finance	NOUN
faba-177	80	18	.	.	PUNCT
faba-177	81	1	for	for	ADP
faba-177	81	2	instance	instance	NOUN
faba-177	81	3	,	,	PUNCT
faba-177	81	4	landx	landx	PROPN
faba-177	81	5	observes	observe	VERB
faba-177	81	6	investors	investor	NOUN
faba-177	81	7	driven	drive	VERB
faba-177	81	8	by	by	ADP
faba-177	81	9	physical	physical	ADJ
faba-177	81	10	asset	asset	NOUN
faba-177	81	11	exposure	exposure	NOUN
faba-177	81	12	like	like	ADP
faba-177	81	13	property	property	NOUN
faba-177	81	14	,	,	PUNCT
faba-177	81	15	contrasting	contrast	VERB
faba-177	81	16	certain	certain	ADJ
faba-177	81	17	western	western	ADJ
faba-177	81	18	motivations	motivation	NOUN
faba-177	81	19	.	.	PUNCT
faba-177	82	1	oversight	oversight	NOUN
faba-177	82	2	and	and	CCONJ
faba-177	82	3	compliance	compliance	NOUN
faba-177	82	4	issues	issue	NOUN
faba-177	82	5	also	also	ADV
faba-177	82	6	require	require	VERB
faba-177	82	7	attention	attention	NOUN
faba-177	82	8	given	give	VERB
faba-177	82	9	that	that	SCONJ
faba-177	82	10	globally	globally	ADV
faba-177	82	11	,	,	PUNCT
faba-177	82	12	incidents	incident	NOUN
faba-177	82	13	of	of	ADP
faba-177	82	14	fraud	fraud	NOUN
faba-177	82	15	and	and	CCONJ
faba-177	82	16	investor	investor	NOUN
faba-177	82	17	losses	loss	NOUN
faba-177	82	18	from	from	ADP
faba-177	82	19	lax	lax	ADJ
faba-177	82	20	post	post	ADJ
faba-177	82	21	-	-	ADJ
faba-177	82	22	raise	raise	ADJ
faba-177	82	23	supervision	supervision	NOUN
faba-177	82	24	led	lead	VERB
faba-177	82	25	to	to	PART
faba-177	82	26	debate	debate	VERB
faba-177	82	27	regarding	regard	VERB
faba-177	82	28	an	an	DET
faba-177	82	29	appropriate	appropriate	ADJ
faba-177	82	30	balance	balance	NOUN
faba-177	82	31	between	between	ADP
faba-177	82	32	compliance	compliance	NOUN
faba-177	82	33	and	and	CCONJ
faba-177	82	34	industry	industry	NOUN
faba-177	82	35	growth	growth	NOUN
faba-177	82	36	(	(	PUNCT
faba-177	82	37	kirby	kirby	PROPN
faba-177	82	38	and	and	CCONJ
faba-177	82	39	worner	worner	NOUN
faba-177	82	40	2014	2014	NUM
faba-177	82	41	)	)	PUNCT
faba-177	82	42	.	.	PUNCT
faba-177	83	1	the	the	DET
faba-177	83	2	sufficiency	sufficiency	NOUN
faba-177	83	3	of	of	ADP
faba-177	83	4	indonesia	indonesia	PROPN
faba-177	83	5	's	's	PART
faba-177	83	6	regulatory	regulatory	ADJ
faba-177	83	7	framework	framework	NOUN
faba-177	83	8	and	and	CCONJ
faba-177	83	9	reporting	reporting	NOUN
faba-177	83	10	enforcement	enforcement	NOUN
faba-177	83	11	requires	require	VERB
faba-177	83	12	examination	examination	NOUN
faba-177	83	13	.	.	PUNCT
faba-177	84	1	sanjaya	sanjaya	PROPN
faba-177	84	2	and	and	CCONJ
faba-177	84	3	koesrindartoto	koesrindartoto	PROPN
faba-177	84	4	/	/	SYM
faba-177	84	5	finance	finance	NOUN
faba-177	84	6	,	,	PUNCT
faba-177	84	7	accounting	accounting	NOUN
faba-177	84	8	and	and	CCONJ
faba-177	84	9	business	business	NOUN
faba-177	84	10	analysis	analysis	NOUN
faba-177	84	11	,	,	PUNCT
faba-177	84	12	volume	volume	NOUN
faba-177	84	13	5	5	NUM
faba-177	84	14	,	,	PUNCT
faba-177	84	15	issue	issue	NOUN
faba-177	84	16	2	2	NUM
faba-177	84	17	,	,	PUNCT
faba-177	84	18	2023	2023	NUM
faba-177	84	19	176	176	NUM
faba-177	84	20	surveys	survey	NOUN
faba-177	84	21	of	of	ADP
faba-177	84	22	indonesian	indonesian	ADJ
faba-177	84	23	platforms	platform	NOUN
faba-177	84	24	flagged	flag	VERB
faba-177	84	25	a	a	DET
faba-177	84	26	need	need	NOUN
faba-177	84	27	to	to	PART
faba-177	84	28	enhance	enhance	VERB
faba-177	84	29	post	post	ADJ
faba-177	84	30	-	-	ADJ
faba-177	84	31	raise	raise	ADJ
faba-177	84	32	supervision	supervision	NOUN
faba-177	84	33	of	of	ADP
faba-177	84	34	funded	funded	ADJ
faba-177	84	35	issuers	issuer	NOUN
faba-177	84	36	,	,	PUNCT
faba-177	84	37	with	with	ADP
faba-177	84	38	nearly	nearly	ADV
faba-177	84	39	40	40	NUM
faba-177	84	40	%	%	NOUN
faba-177	84	41	dissatisfied	dissatisfied	ADJ
faba-177	84	42	with	with	ADP
faba-177	84	43	regulations	regulation	NOUN
faba-177	84	44	enabling	enable	VERB
faba-177	84	45	oversight	oversight	NOUN
faba-177	84	46	(	(	PUNCT
faba-177	84	47	santoso	santoso	NOUN
faba-177	84	48	et	et	PROPN
faba-177	84	49	al	al	PROPN
faba-177	84	50	.	.	PROPN
faba-177	84	51	2022	2022	NUM
faba-177	84	52	)	)	PUNCT
faba-177	84	53	.	.	PUNCT
faba-177	85	1	clearer	clear	ADJ
faba-177	85	2	compliance	compliance	NOUN
faba-177	85	3	processes	process	NOUN
faba-177	85	4	could	could	AUX
faba-177	85	5	address	address	VERB
faba-177	85	6	changing	change	VERB
faba-177	85	7	risk	risk	NOUN
faba-177	85	8	profiles	profile	NOUN
faba-177	85	9	as	as	ADP
faba-177	85	10	issuers	issuer	NOUN
faba-177	85	11	scale	scale	NOUN
faba-177	85	12	.	.	PUNCT
faba-177	86	1	understanding	understand	VERB
faba-177	86	2	how	how	SCONJ
faba-177	86	3	platforms	platform	NOUN
faba-177	86	4	like	like	ADP
faba-177	86	5	landx	landx	ADJ
faba-177	86	6	approach	approach	NOUN
faba-177	86	7	maintaining	maintain	VERB
faba-177	86	8	issuer	issuer	ADJ
faba-177	86	9	integrity	integrity	NOUN
faba-177	86	10	amidst	amidst	ADP
faba-177	86	11	regulatory	regulatory	ADJ
faba-177	86	12	ambiguity	ambiguity	NOUN
faba-177	86	13	can	can	AUX
faba-177	86	14	provide	provide	VERB
faba-177	86	15	perspective	perspective	NOUN
faba-177	86	16	.	.	PUNCT
faba-177	87	1	finally	finally	ADV
faba-177	87	2	,	,	PUNCT
faba-177	87	3	quantifying	quantify	VERB
faba-177	87	4	the	the	DET
faba-177	87	5	real	real	ADJ
faba-177	87	6	economic	economic	ADJ
faba-177	87	7	impacts	impact	NOUN
faba-177	87	8	of	of	ADP
faba-177	87	9	equity	equity	NOUN
faba-177	87	10	crowdfunding	crowdfunding	NOUN
faba-177	87	11	participation	participation	NOUN
faba-177	87	12	on	on	ADP
faba-177	87	13	issuer	issuer	ADJ
faba-177	87	14	strategy	strategy	NOUN
faba-177	87	15	,	,	PUNCT
faba-177	87	16	growth	growth	NOUN
faba-177	87	17	,	,	PUNCT
faba-177	87	18	and	and	CCONJ
faba-177	87	19	operations	operation	NOUN
faba-177	87	20	remains	remain	VERB
faba-177	87	21	underexplored	underexplored	ADJ
faba-177	87	22	.	.	PUNCT
faba-177	88	1	academic	academic	ADJ
faba-177	88	2	studies	study	NOUN
faba-177	88	3	lament	lament	VERB
faba-177	88	4	the	the	DET
faba-177	88	5	lack	lack	NOUN
faba-177	88	6	of	of	ADP
faba-177	88	7	data	datum	NOUN
faba-177	88	8	on	on	ADP
faba-177	88	9	key	key	ADJ
faba-177	88	10	outcome	outcome	NOUN
faba-177	88	11	metrics	metric	NOUN
faba-177	88	12	like	like	ADP
faba-177	88	13	revenue	revenue	NOUN
faba-177	88	14	growth	growth	NOUN
faba-177	88	15	,	,	PUNCT
faba-177	88	16	new	new	ADJ
faba-177	88	17	jobs	job	NOUN
faba-177	88	18	,	,	PUNCT
faba-177	88	19	or	or	CCONJ
faba-177	88	20	product	product	NOUN
faba-177	88	21	expansion	expansion	NOUN
faba-177	88	22	specifically	specifically	ADV
faba-177	88	23	attributable	attributable	ADJ
faba-177	88	24	to	to	ADP
faba-177	88	25	crowdfunded	crowdfunde	VERB
faba-177	88	26	capital	capital	NOUN
faba-177	88	27	,	,	PUNCT
faba-177	88	28	apart	apart	ADV
faba-177	88	29	from	from	ADP
faba-177	88	30	anecdotal	anecdotal	ADJ
faba-177	88	31	claims	claim	NOUN
faba-177	88	32	(	(	PUNCT
faba-177	88	33	signori	signori	NOUN
faba-177	88	34	and	and	CCONJ
faba-177	88	35	vismara	vismara	NOUN
faba-177	88	36	2018	2018	NUM
faba-177	88	37	)	)	PUNCT
faba-177	88	38	.	.	PUNCT
faba-177	89	1	rigorous	rigorous	ADJ
faba-177	89	2	analysis	analysis	NOUN
faba-177	89	3	would	would	AUX
faba-177	89	4	provide	provide	VERB
faba-177	89	5	greater	great	ADJ
faba-177	89	6	evidence	evidence	NOUN
faba-177	89	7	regarding	regard	VERB
faba-177	89	8	equity	equity	NOUN
faba-177	89	9	crowdfunding	crowdfunding	NOUN
faba-177	89	10	's	's	PART
faba-177	89	11	tangible	tangible	ADJ
faba-177	89	12	value	value	NOUN
faba-177	89	13	for	for	ADP
faba-177	89	14	entrepreneurs	entrepreneur	NOUN
faba-177	89	15	.	.	PUNCT
faba-177	90	1	landx	landx	PROPN
faba-177	90	2	's	's	PART
faba-177	90	3	rapidly	rapidly	ADV
faba-177	90	4	growing	grow	VERB
faba-177	90	5	platform	platform	NOUN
faba-177	90	6	could	could	AUX
faba-177	90	7	serve	serve	VERB
faba-177	90	8	as	as	ADP
faba-177	90	9	a	a	DET
faba-177	90	10	case	case	NOUN
faba-177	90	11	study	study	NOUN
faba-177	90	12	for	for	ADP
faba-177	90	13	measuring	measure	VERB
faba-177	90	14	pre	pre	ADJ
faba-177	90	15	-	-	ADJ
faba-177	90	16	post	post	ADJ
faba-177	90	17	financial	financial	ADJ
faba-177	90	18	changes	change	NOUN
faba-177	90	19	.	.	PUNCT
faba-177	91	1	but	but	CCONJ
faba-177	91	2	persisting	persist	VERB
faba-177	91	3	gaps	gap	NOUN
faba-177	91	4	in	in	ADP
faba-177	91	5	financial	financial	ADJ
faba-177	91	6	transparency	transparency	NOUN
faba-177	91	7	and	and	CCONJ
faba-177	91	8	standardised	standardised	ADJ
faba-177	91	9	reporting	reporting	NOUN
faba-177	91	10	pose	pose	NOUN
faba-177	91	11	challenges	challenge	NOUN
faba-177	91	12	for	for	ADP
faba-177	91	13	credible	credible	ADJ
faba-177	91	14	impact	impact	NOUN
faba-177	91	15	assessment	assessment	NOUN
faba-177	91	16	.	.	PUNCT
faba-177	92	1	academic	academic	ADJ
faba-177	92	2	research	research	NOUN
faba-177	92	3	on	on	ADP
faba-177	92	4	equity	equity	NOUN
faba-177	92	5	crowdfunding	crowdfunding	NOUN
faba-177	92	6	has	have	AUX
faba-177	92	7	grown	grow	VERB
faba-177	92	8	over	over	ADP
faba-177	92	9	the	the	DET
faba-177	92	10	past	past	ADJ
faba-177	92	11	decade	decade	NOUN
faba-177	92	12	,	,	PUNCT
faba-177	92	13	but	but	CCONJ
faba-177	92	14	remains	remain	VERB
faba-177	92	15	concentrated	concentrate	VERB
faba-177	92	16	on	on	ADP
faba-177	92	17	developed	develop	VERB
faba-177	92	18	country	country	NOUN
faba-177	92	19	contexts	contexts	NOUN
faba-177	92	20	,	,	PUNCT
faba-177	92	21	especially	especially	ADV
faba-177	92	22	the	the	DET
faba-177	92	23	us	us	PROPN
faba-177	92	24	and	and	CCONJ
faba-177	92	25	europe	europe	PROPN
faba-177	92	26	.	.	PUNCT
faba-177	93	1	there	there	PRON
faba-177	93	2	is	be	VERB
faba-177	93	3	limited	limited	ADJ
faba-177	93	4	scholarly	scholarly	ADJ
faba-177	93	5	work	work	NOUN
faba-177	93	6	focused	focus	VERB
faba-177	93	7	on	on	ADP
faba-177	93	8	emerging	emerge	VERB
faba-177	93	9	economies	economy	NOUN
faba-177	93	10	like	like	ADP
faba-177	93	11	indonesia	indonesia	PROPN
faba-177	93	12	despite	despite	SCONJ
faba-177	93	13	high	high	ADJ
faba-177	93	14	growth	growth	NOUN
faba-177	93	15	potential	potential	NOUN
faba-177	93	16	.	.	PUNCT
faba-177	94	1	this	this	DET
faba-177	94	2	research	research	NOUN
faba-177	94	3	has	have	VERB
faba-177	94	4	goal	goal	NOUN
faba-177	94	5	to	to	PART
faba-177	94	6	bridge	bridge	VERB
faba-177	94	7	this	this	DET
faba-177	94	8	knowledge	knowledge	NOUN
faba-177	94	9	gap	gap	NOUN
faba-177	94	10	by	by	ADP
faba-177	94	11	providing	provide	VERB
faba-177	94	12	an	an	DET
faba-177	94	13	in	in	ADP
faba-177	94	14	-	-	PUNCT
faba-177	94	15	depth	depth	NOUN
faba-177	94	16	examination	examination	NOUN
faba-177	94	17	of	of	ADP
faba-177	94	18	the	the	DET
faba-177	94	19	processes	process	NOUN
faba-177	94	20	,	,	PUNCT
faba-177	94	21	stakeholders	stakeholder	NOUN
faba-177	94	22	,	,	PUNCT
faba-177	94	23	and	and	CCONJ
faba-177	94	24	outcomes	outcome	NOUN
faba-177	94	25	on	on	ADP
faba-177	94	26	indonesia	indonesia	PROPN
faba-177	94	27	’s	’s	PART
faba-177	94	28	landx	landx	PROPN
faba-177	94	29	platform	platform	NOUN
faba-177	94	30	.	.	PUNCT
faba-177	95	1	this	this	DET
faba-177	95	2	study	study	NOUN
faba-177	95	3	aims	aim	VERB
faba-177	95	4	to	to	PART
faba-177	95	5	address	address	VERB
faba-177	95	6	several	several	ADJ
faba-177	95	7	key	key	ADJ
faba-177	95	8	knowledge	knowledge	NOUN
faba-177	95	9	gaps	gap	NOUN
faba-177	95	10	regarding	regard	VERB
faba-177	95	11	the	the	DET
faba-177	95	12	localization	localization	NOUN
faba-177	95	13	of	of	ADP
faba-177	95	14	equity	equity	NOUN
faba-177	95	15	crowdfunding	crowdfunding	NOUN
faba-177	95	16	in	in	ADP
faba-177	95	17	indonesia	indonesia	PROPN
faba-177	95	18	through	through	ADP
faba-177	95	19	an	an	DET
faba-177	95	20	exploratory	exploratory	ADJ
faba-177	95	21	case	case	NOUN
faba-177	95	22	study	study	NOUN
faba-177	95	23	of	of	ADP
faba-177	95	24	the	the	DET
faba-177	95	25	landx	landx	ADJ
faba-177	95	26	platform	platform	NOUN
faba-177	95	27	.	.	PUNCT
faba-177	96	1	specifically	specifically	ADV
faba-177	96	2	,	,	PUNCT
faba-177	96	3	the	the	DET
faba-177	96	4	research	research	NOUN
faba-177	96	5	has	have	VERB
faba-177	96	6	four	four	NUM
faba-177	96	7	core	core	ADJ
faba-177	96	8	objectives	objective	NOUN
faba-177	96	9	:	:	PUNCT
faba-177	96	10	1	1	X
faba-177	96	11	)	)	PUNCT
faba-177	96	12	to	to	PART
faba-177	96	13	evaluate	evaluate	VERB
faba-177	96	14	the	the	DET
faba-177	96	15	due	due	ADJ
faba-177	96	16	diligence	diligence	NOUN
faba-177	96	17	processes	process	NOUN
faba-177	96	18	employed	employ	VERB
faba-177	96	19	by	by	ADP
faba-177	96	20	landx	landx	NOUN
faba-177	96	21	in	in	ADP
faba-177	96	22	vetting	vet	VERB
faba-177	96	23	entrepreneurs	entrepreneur	NOUN
faba-177	96	24	and	and	CCONJ
faba-177	96	25	projects	project	NOUN
faba-177	96	26	,	,	PUNCT
faba-177	96	27	and	and	CCONJ
faba-177	96	28	assess	assess	VERB
faba-177	96	29	their	their	PRON
faba-177	96	30	effectiveness	effectiveness	NOUN
faba-177	96	31	in	in	ADP
faba-177	96	32	predicting	predict	VERB
faba-177	96	33	success	success	NOUN
faba-177	96	34	;	;	PUNCT
faba-177	96	35	2	2	X
faba-177	96	36	)	)	PUNCT
faba-177	96	37	to	to	PART
faba-177	96	38	investigate	investigate	VERB
faba-177	96	39	the	the	DET
faba-177	96	40	primary	primary	ADJ
faba-177	96	41	motivations	motivation	NOUN
faba-177	96	42	and	and	CCONJ
faba-177	96	43	characteristics	characteristic	NOUN
faba-177	96	44	of	of	ADP
faba-177	96	45	landx	landx	ADJ
faba-177	96	46	investors	investor	NOUN
faba-177	96	47	,	,	PUNCT
faba-177	96	48	and	and	CCONJ
faba-177	96	49	analyze	analyze	VERB
faba-177	96	50	how	how	SCONJ
faba-177	96	51	these	these	DET
faba-177	96	52	factors	factor	NOUN
faba-177	96	53	influence	influence	NOUN
faba-177	96	54	behaviors	behavior	NOUN
faba-177	96	55	;	;	PUNCT
faba-177	96	56	3	3	X
faba-177	96	57	)	)	PUNCT
faba-177	96	58	to	to	PART
faba-177	96	59	evaluate	evaluate	VERB
faba-177	96	60	how	how	SCONJ
faba-177	96	61	landx	landx	ADJ
faba-177	96	62	navigates	navigate	VERB
faba-177	96	63	the	the	DET
faba-177	96	64	indonesian	indonesian	ADJ
faba-177	96	65	regulatory	regulatory	ADJ
faba-177	96	66	landscape	landscape	NOUN
faba-177	96	67	to	to	PART
faba-177	96	68	mitigate	mitigate	VERB
faba-177	96	69	legal	legal	ADJ
faba-177	96	70	risks	risk	NOUN
faba-177	96	71	;	;	PUNCT
faba-177	96	72	and	and	CCONJ
faba-177	96	73	4	4	X
faba-177	96	74	)	)	PUNCT
faba-177	96	75	to	to	PART
faba-177	96	76	measure	measure	VERB
faba-177	96	77	the	the	DET
faba-177	96	78	business	business	NOUN
faba-177	96	79	impact	impact	NOUN
faba-177	96	80	of	of	ADP
faba-177	96	81	listing	list	VERB
faba-177	96	82	on	on	ADP
faba-177	96	83	landx	landx	NOUN
faba-177	96	84	for	for	ADP
faba-177	96	85	hosted	host	VERB
faba-177	96	86	projects	project	NOUN
faba-177	96	87	,	,	PUNCT
faba-177	96	88	and	and	CCONJ
faba-177	96	89	identify	identify	VERB
faba-177	96	90	any	any	DET
faba-177	96	91	additional	additional	ADJ
faba-177	96	92	platform	platform	NOUN
faba-177	96	93	support	support	NOUN
faba-177	96	94	beyond	beyond	ADP
faba-177	96	95	fundraising	fundraise	VERB
faba-177	96	96	.	.	PUNCT
faba-177	97	1	examining	examine	VERB
faba-177	97	2	these	these	DET
faba-177	97	3	issues	issue	NOUN
faba-177	97	4	from	from	ADP
faba-177	97	5	the	the	DET
faba-177	97	6	perspective	perspective	NOUN
faba-177	97	7	of	of	ADP
faba-177	97	8	an	an	DET
faba-177	97	9	established	establish	VERB
faba-177	97	10	industry	industry	NOUN
faba-177	97	11	player	player	NOUN
faba-177	97	12	like	like	ADP
faba-177	97	13	landx	landx	PROPN
faba-177	97	14	provides	provide	VERB
faba-177	97	15	insight	insight	NOUN
faba-177	97	16	into	into	ADP
faba-177	97	17	how	how	SCONJ
faba-177	97	18	crowdfunding	crowdfunding	NOUN
faba-177	97	19	models	model	NOUN
faba-177	97	20	adapt	adapt	VERB
faba-177	97	21	within	within	ADP
faba-177	97	22	indonesia	indonesia	PROPN
faba-177	97	23	's	's	PART
faba-177	97	24	unique	unique	ADJ
faba-177	97	25	regulatory	regulatory	ADJ
faba-177	97	26	and	and	CCONJ
faba-177	97	27	economic	economic	ADJ
faba-177	97	28	environment	environment	NOUN
faba-177	97	29	to	to	PART
faba-177	97	30	balance	balance	VERB
faba-177	97	31	innovation	innovation	NOUN
faba-177	97	32	and	and	CCONJ
faba-177	97	33	prudent	prudent	ADJ
faba-177	97	34	practice	practice	NOUN
faba-177	97	35	.	.	PUNCT
faba-177	98	1	while	while	SCONJ
faba-177	98	2	not	not	PART
faba-177	98	3	generalizable	generalizable	ADJ
faba-177	98	4	,	,	PUNCT
faba-177	98	5	findings	finding	NOUN
faba-177	98	6	can	can	AUX
faba-177	98	7	inform	inform	VERB
faba-177	98	8	future	future	ADJ
faba-177	98	9	research	research	NOUN
faba-177	98	10	directions	direction	NOUN
faba-177	98	11	.	.	PUNCT
faba-177	99	1	this	this	DET
faba-177	99	2	study	study	NOUN
faba-177	99	3	elucidates	elucidate	VERB
faba-177	99	4	such	such	ADJ
faba-177	99	5	issues	issue	NOUN
faba-177	99	6	from	from	ADP
faba-177	99	7	the	the	DET
faba-177	99	8	perspective	perspective	NOUN
faba-177	99	9	of	of	ADP
faba-177	99	10	indonesian	indonesian	ADJ
faba-177	99	11	platform	platform	NOUN
faba-177	99	12	managers	manager	NOUN
faba-177	99	13	as	as	ADP
faba-177	99	14	central	central	ADJ
faba-177	99	15	actors	actor	NOUN
faba-177	99	16	connecting	connect	VERB
faba-177	99	17	issuers	issuer	NOUN
faba-177	99	18	and	and	CCONJ
faba-177	99	19	investors	investor	NOUN
faba-177	99	20	.	.	PUNCT
faba-177	100	1	landx	landx	PROPN
faba-177	100	2	provides	provide	VERB
faba-177	100	3	a	a	DET
faba-177	100	4	suitable	suitable	ADJ
faba-177	100	5	instrumental	instrumental	ADJ
faba-177	100	6	case	case	NOUN
faba-177	100	7	study	study	NOUN
faba-177	100	8	,	,	PUNCT
faba-177	100	9	as	as	ADP
faba-177	100	10	an	an	DET
faba-177	100	11	established	established	ADJ
faba-177	100	12	industry	industry	NOUN
faba-177	100	13	player	player	NOUN
faba-177	100	14	managing	manage	VERB
faba-177	100	15	both	both	CCONJ
faba-177	100	16	issuer	issuer	NOUN
faba-177	100	17	vetting	vetting	NOUN
faba-177	100	18	and	and	CCONJ
faba-177	100	19	investor	investor	NOUN
faba-177	100	20	participation	participation	NOUN
faba-177	100	21	.	.	PUNCT
faba-177	101	1	landx	landx	PROPN
faba-177	101	2	was	be	AUX
faba-177	101	3	selected	select	VERB
faba-177	101	4	as	as	ADP
faba-177	101	5	the	the	DET
faba-177	101	6	single	single	ADJ
faba-177	101	7	case	case	NOUN
faba-177	101	8	study	study	NOUN
faba-177	101	9	for	for	ADP
faba-177	101	10	this	this	DET
faba-177	101	11	research	research	NOUN
faba-177	101	12	due	due	ADP
faba-177	101	13	to	to	ADP
faba-177	101	14	its	its	PRON
faba-177	101	15	status	status	NOUN
faba-177	101	16	as	as	ADP
faba-177	101	17	one	one	NUM
faba-177	101	18	of	of	ADP
faba-177	101	19	indonesia	indonesia	PROPN
faba-177	101	20	's	's	PART
faba-177	101	21	leading	lead	VERB
faba-177	101	22	equity	equity	NOUN
faba-177	101	23	crowdfunding	crowdfunding	NOUN
faba-177	101	24	platforms	platform	NOUN
faba-177	101	25	.	.	PUNCT
faba-177	102	1	as	as	ADP
faba-177	102	2	an	an	DET
faba-177	102	3	established	established	ADJ
faba-177	102	4	industry	industry	NOUN
faba-177	102	5	player	player	NOUN
faba-177	102	6	that	that	PRON
faba-177	102	7	has	have	AUX
faba-177	102	8	facilitated	facilitate	VERB
faba-177	102	9	over	over	ADP
faba-177	102	10	170	170	NUM
faba-177	102	11	funded	funded	ADJ
faba-177	102	12	campaigns	campaign	NOUN
faba-177	102	13	across	across	ADP
faba-177	102	14	multiple	multiple	ADJ
faba-177	102	15	sectors	sector	NOUN
faba-177	102	16	since	since	SCONJ
faba-177	102	17	2019	2019	NUM
faba-177	102	18	,	,	PUNCT
faba-177	102	19	landx	landx	PROPN
faba-177	102	20	serves	serve	VERB
faba-177	102	21	as	as	ADP
faba-177	102	22	an	an	DET
faba-177	102	23	instrumental	instrumental	ADJ
faba-177	102	24	"	"	PUNCT
faba-177	102	25	revelatory	revelatory	ADJ
faba-177	102	26	case	case	NOUN
faba-177	102	27	"	"	PUNCT
faba-177	102	28	that	that	PRON
faba-177	102	29	can	can	AUX
faba-177	102	30	provide	provide	VERB
faba-177	102	31	unique	unique	ADJ
faba-177	102	32	insider	insider	NOUN
faba-177	102	33	perspective	perspective	NOUN
faba-177	102	34	into	into	ADP
faba-177	102	35	the	the	DET
faba-177	102	36	operational	operational	ADJ
faba-177	102	37	processes	process	NOUN
faba-177	102	38	and	and	CCONJ
faba-177	102	39	realities	reality	NOUN
faba-177	102	40	involved	involve	VERB
faba-177	102	41	in	in	ADP
faba-177	102	42	localizing	localize	VERB
faba-177	102	43	equity	equity	NOUN
faba-177	102	44	crowdfunding	crowdfunding	NOUN
faba-177	102	45	models	model	NOUN
faba-177	102	46	.	.	PUNCT
faba-177	103	1	while	while	SCONJ
faba-177	103	2	findings	finding	NOUN
faba-177	103	3	from	from	ADP
faba-177	103	4	an	an	DET
faba-177	103	5	exploratory	exploratory	ADJ
faba-177	103	6	qualitative	qualitative	ADJ
faba-177	103	7	single	single	ADJ
faba-177	103	8	case	case	NOUN
faba-177	103	9	study	study	NOUN
faba-177	103	10	design	design	NOUN
faba-177	103	11	are	be	AUX
faba-177	103	12	not	not	PART
faba-177	103	13	statistically	statistically	ADV
faba-177	103	14	generalizable	generalizable	ADJ
faba-177	103	15	,	,	PUNCT
faba-177	103	16	the	the	DET
faba-177	103	17	in	in	ADP
faba-177	103	18	-	-	PUNCT
faba-177	103	19	depth	depth	NOUN
faba-177	103	20	analysis	analysis	NOUN
faba-177	103	21	of	of	ADP
faba-177	103	22	landx	landx	NOUN
faba-177	103	23	as	as	ADP
faba-177	103	24	a	a	DET
faba-177	103	25	pioneering	pioneering	ADJ
faba-177	103	26	platform	platform	NOUN
faba-177	103	27	can	can	AUX
faba-177	103	28	yield	yield	VERB
faba-177	103	29	important	important	ADJ
faba-177	103	30	foundational	foundational	ADJ
faba-177	103	31	understandings	understanding	NOUN
faba-177	103	32	about	about	ADP
faba-177	103	33	crowdfunding	crowdfunde	VERB
faba-177	103	34	localization	localization	NOUN
faba-177	103	35	dynamics	dynamic	NOUN
faba-177	103	36	in	in	ADP
faba-177	103	37	the	the	DET
faba-177	103	38	under	under	ADV
faba-177	103	39	-	-	PUNCT
faba-177	103	40	examined	examine	VERB
faba-177	103	41	indonesian	indonesian	ADJ
faba-177	103	42	context	context	NOUN
faba-177	103	43	.	.	PUNCT
faba-177	104	1	these	these	DET
faba-177	104	2	insights	insight	NOUN
faba-177	104	3	can	can	AUX
faba-177	104	4	illuminate	illuminate	VERB
faba-177	104	5	current	current	ADJ
faba-177	104	6	strengths	strength	NOUN
faba-177	104	7	,	,	PUNCT
faba-177	104	8	challenges	challenge	NOUN
faba-177	104	9	and	and	CCONJ
faba-177	104	10	opportunities	opportunity	NOUN
faba-177	104	11	to	to	PART
faba-177	104	12	responsibly	responsibly	ADV
faba-177	104	13	advance	advance	VERB
faba-177	104	14	equity	equity	NOUN
faba-177	104	15	crowdfunding	crowdfunding	NOUN
faba-177	104	16	,	,	PUNCT
faba-177	104	17	laying	lay	VERB
faba-177	104	18	groundwork	groundwork	NOUN
faba-177	104	19	to	to	PART
faba-177	104	20	inform	inform	VERB
faba-177	104	21	future	future	ADJ
faba-177	104	22	research	research	NOUN
faba-177	104	23	directions	direction	NOUN
faba-177	104	24	.	.	PUNCT
faba-177	105	1	examining	examine	VERB
faba-177	105	2	a	a	DET
faba-177	105	3	successful	successful	ADJ
faba-177	105	4	first	first	ADJ
faba-177	105	5	mover	mover	NOUN
faba-177	105	6	like	like	SCONJ
faba-177	105	7	landx	landx	PROPN
faba-177	105	8	provides	provide	VERB
faba-177	105	9	a	a	DET
faba-177	105	10	valuable	valuable	ADJ
faba-177	105	11	initiating	initiate	VERB
faba-177	105	12	lens	lens	NOUN
faba-177	105	13	into	into	ADP
faba-177	105	14	this	this	DET
faba-177	105	15	nascent	nascent	ADJ
faba-177	105	16	industry	industry	NOUN
faba-177	105	17	.	.	PUNCT
faba-177	106	1	findings	finding	NOUN
faba-177	106	2	will	will	AUX
faba-177	106	3	aid	aid	VERB
faba-177	106	4	understanding	understanding	NOUN
faba-177	106	5	of	of	ADP
faba-177	106	6	how	how	SCONJ
faba-177	106	7	equity	equity	NOUN
faba-177	106	8	crowdfunding	crowdfunding	NOUN
faba-177	106	9	is	be	AUX
faba-177	106	10	supporting	support	VERB
faba-177	106	11	startup	startup	NOUN
faba-177	106	12	ecosystems	ecosystem	NOUN
faba-177	106	13	in	in	ADP
faba-177	106	14	developing	develop	VERB
faba-177	106	15	markets	market	NOUN
faba-177	106	16	whilst	whilst	SCONJ
faba-177	106	17	inform	inform	VERB
faba-177	106	18	efforts	effort	NOUN
faba-177	106	19	towards	towards	ADP
faba-177	106	20	balanced	balanced	ADJ
faba-177	106	21	ecosystem	ecosystem	NOUN
faba-177	106	22	development	development	NOUN
faba-177	106	23	that	that	PRON
faba-177	106	24	protects	protect	VERB
faba-177	106	25	participants	participant	NOUN
faba-177	106	26	while	while	SCONJ
faba-177	106	27	fostering	foster	VERB
faba-177	106	28	inclusion	inclusion	NOUN
faba-177	106	29	and	and	CCONJ
faba-177	106	30	growth	growth	NOUN
faba-177	106	31	of	of	ADP
faba-177	106	32	this	this	DET
faba-177	106	33	financing	financing	NOUN
faba-177	106	34	innovation	innovation	NOUN
faba-177	106	35	.	.	PUNCT
faba-177	107	1	this	this	DET
faba-177	107	2	paper	paper	NOUN
faba-177	107	3	argues	argue	VERB
faba-177	107	4	that	that	SCONJ
faba-177	107	5	realizing	realize	VERB
faba-177	107	6	the	the	DET
faba-177	107	7	potential	potential	NOUN
faba-177	107	8	of	of	ADP
faba-177	107	9	equity	equity	NOUN
faba-177	107	10	crowdfunding	crowdfunding	NOUN
faba-177	107	11	in	in	ADP
faba-177	107	12	indonesia	indonesia	PROPN
faba-177	107	13	necessitates	necessitate	VERB
faba-177	107	14	cultivating	cultivate	VERB
faba-177	107	15	a	a	DET
faba-177	107	16	balanced	balanced	ADJ
faba-177	107	17	ecosystem	ecosystem	NOUN
faba-177	107	18	enabling	enable	VERB
faba-177	107	19	financial	financial	ADJ
faba-177	107	20	inclusion	inclusion	NOUN
faba-177	107	21	with	with	ADP
faba-177	107	22	prudent	prudent	ADJ
faba-177	107	23	protections	protection	NOUN
faba-177	107	24	suited	suit	VERB
faba-177	107	25	to	to	ADP
faba-177	107	26	inherent	inherent	ADJ
faba-177	107	27	risks	risk	NOUN
faba-177	107	28	.	.	PUNCT
faba-177	108	1	equity	equity	NOUN
faba-177	108	2	crowdfunding	crowdfunding	NOUN
faba-177	108	3	in	in	ADP
faba-177	108	4	indonesia	indonesia	PROPN
faba-177	108	5	represents	represent	VERB
faba-177	108	6	a	a	DET
faba-177	108	7	novel	novel	ADJ
faba-177	108	8	financial	financial	ADJ
faba-177	108	9	paradigm	paradigm	NOUN
faba-177	108	10	,	,	PUNCT
faba-177	108	11	distinct	distinct	ADJ
faba-177	108	12	from	from	ADP
faba-177	108	13	traditional	traditional	ADJ
faba-177	108	14	financing	financing	NOUN
faba-177	108	15	methods	method	NOUN
faba-177	108	16	.	.	PUNCT
faba-177	109	1	it	it	PRON
faba-177	109	2	enables	enable	VERB
faba-177	109	3	startups	startup	NOUN
faba-177	109	4	and	and	CCONJ
faba-177	109	5	small	small	ADJ
faba-177	109	6	businesses	business	NOUN
faba-177	109	7	to	to	PART
faba-177	109	8	tap	tap	VERB
faba-177	109	9	into	into	ADP
faba-177	109	10	a	a	DET
faba-177	109	11	wider	wide	ADJ
faba-177	109	12	investor	investor	NOUN
faba-177	109	13	base	base	NOUN
faba-177	109	14	.	.	PUNCT
faba-177	110	1	in	in	ADP
faba-177	110	2	this	this	DET
faba-177	110	3	study	study	NOUN
faba-177	110	4	,	,	PUNCT
faba-177	110	5	we	we	PRON
faba-177	110	6	focus	focus	VERB
faba-177	110	7	on	on	ADP
faba-177	110	8	understanding	understand	VERB
faba-177	110	9	this	this	DET
faba-177	110	10	innovative	innovative	ADJ
faba-177	110	11	model	model	NOUN
faba-177	110	12	,	,	PUNCT
faba-177	110	13	particularly	particularly	ADV
faba-177	110	14	through	through	ADP
faba-177	110	15	the	the	DET
faba-177	110	16	lens	lens	NOUN
faba-177	110	17	of	of	ADP
faba-177	110	18	the	the	DET
faba-177	110	19	landx	landx	ADJ
faba-177	110	20	platform	platform	NOUN
faba-177	110	21	,	,	PUNCT
faba-177	110	22	a	a	DET
faba-177	110	23	key	key	ADJ
faba-177	110	24	player	player	NOUN
faba-177	110	25	in	in	ADP
faba-177	110	26	this	this	DET
faba-177	110	27	evolving	evolve	VERB
faba-177	110	28	market	market	NOUN
faba-177	110	29	.	.	PUNCT
faba-177	111	1	the	the	DET
faba-177	111	2	primary	primary	ADJ
faba-177	111	3	aim	aim	NOUN
faba-177	111	4	of	of	ADP
faba-177	111	5	this	this	DET
faba-177	111	6	research	research	NOUN
faba-177	111	7	is	be	AUX
faba-177	111	8	to	to	PART
faba-177	111	9	conduct	conduct	VERB
faba-177	111	10	a	a	DET
faba-177	111	11	qualitative	qualitative	ADJ
faba-177	111	12	study	study	NOUN
faba-177	111	13	of	of	ADP
faba-177	111	14	detailed	detailed	ADJ
faba-177	111	15	exploratory	exploratory	ADJ
faba-177	111	16	analysis	analysis	NOUN
faba-177	111	17	of	of	ADP
faba-177	111	18	the	the	DET
faba-177	111	19	equity	equity	NOUN
faba-177	111	20	crowdfunding	crowdfunde	VERB
faba-177	111	21	landscape	landscape	NOUN
faba-177	111	22	in	in	ADP
faba-177	111	23	indonesia	indonesia	PROPN
faba-177	111	24	.	.	PUNCT
faba-177	112	1	we	we	PRON
faba-177	112	2	seek	seek	VERB
faba-177	112	3	to	to	PART
faba-177	112	4	uncover	uncover	VERB
faba-177	112	5	the	the	DET
faba-177	112	6	trends	trend	NOUN
faba-177	112	7	,	,	PUNCT
faba-177	112	8	challenges	challenge	NOUN
faba-177	112	9	,	,	PUNCT
faba-177	112	10	and	and	CCONJ
faba-177	112	11	opportunities	opportunity	NOUN
faba-177	112	12	that	that	PRON
faba-177	112	13	define	define	VERB
faba-177	112	14	this	this	DET
faba-177	112	15	sector	sector	NOUN
faba-177	112	16	.	.	PUNCT
faba-177	113	1	this	this	PRON
faba-177	113	2	involves	involve	VERB
faba-177	113	3	a	a	DET
faba-177	113	4	deep	deep	ADJ
faba-177	113	5	dive	dive	NOUN
faba-177	113	6	into	into	ADP
faba-177	113	7	the	the	DET
faba-177	113	8	operational	operational	ADJ
faba-177	113	9	aspects	aspect	NOUN
faba-177	113	10	,	,	PUNCT
faba-177	113	11	investor	investor	NOUN
faba-177	113	12	motivations	motivation	NOUN
faba-177	113	13	,	,	PUNCT
faba-177	113	14	and	and	CCONJ
faba-177	113	15	the	the	DET
faba-177	113	16	regulatory	regulatory	ADJ
faba-177	113	17	environment	environment	NOUN
faba-177	113	18	governing	govern	VERB
faba-177	113	19	platforms	platform	NOUN
faba-177	113	20	like	like	ADP
faba-177	113	21	landx	landx	NOUN
faba-177	113	22	.	.	PUNCT
faba-177	114	1	our	our	PRON
faba-177	114	2	thesis	thesis	NOUN
faba-177	114	3	asserts	assert	VERB
faba-177	114	4	that	that	SCONJ
faba-177	114	5	equity	equity	NOUN
faba-177	114	6	crowdfunding	crowdfunding	NOUN
faba-177	114	7	is	be	AUX
faba-177	114	8	an	an	DET
faba-177	114	9	emerging	emerge	VERB
faba-177	114	10	and	and	CCONJ
faba-177	114	11	influential	influential	ADJ
faba-177	114	12	trend	trend	NOUN
faba-177	114	13	in	in	ADP
faba-177	114	14	indonesia	indonesia	PROPN
faba-177	114	15	,	,	PUNCT
faba-177	114	16	significantly	significantly	ADV
faba-177	114	17	altering	alter	VERB
faba-177	114	18	investment	investment	NOUN
faba-177	114	19	practices	practice	NOUN
faba-177	114	20	and	and	CCONJ
faba-177	114	21	shaping	shape	VERB
faba-177	114	22	the	the	DET
faba-177	114	23	regulatory	regulatory	ADJ
faba-177	114	24	framework	framework	NOUN
faba-177	114	25	.	.	PUNCT
faba-177	115	1	this	this	DET
faba-177	115	2	study	study	NOUN
faba-177	115	3	hypothesizes	hypothesize	VERB
faba-177	115	4	that	that	PRON
faba-177	115	5	platforms	platform	NOUN
faba-177	115	6	such	such	ADJ
faba-177	115	7	as	as	ADP
faba-177	115	8	landx	landx	ADJ
faba-177	115	9	are	be	AUX
faba-177	115	10	not	not	PART
faba-177	115	11	just	just	ADV
faba-177	115	12	changing	change	VERB
faba-177	115	13	the	the	DET
faba-177	115	14	investment	investment	NOUN
faba-177	115	15	landscape	landscape	NOUN
faba-177	115	16	but	but	CCONJ
faba-177	115	17	also	also	ADV
faba-177	115	18	impacting	impact	VERB
faba-177	115	19	the	the	DET
faba-177	115	20	broader	broad	ADJ
faba-177	115	21	economic	economic	ADJ
faba-177	115	22	and	and	CCONJ
faba-177	115	23	regulatory	regulatory	ADJ
faba-177	115	24	contexts	context	NOUN
faba-177	115	25	within	within	ADP
faba-177	115	26	the	the	DET
faba-177	115	27	country	country	NOUN
faba-177	115	28	.	.	PUNCT
faba-177	116	1	in	in	ADP
faba-177	116	2	summary	summary	NOUN
faba-177	116	3	,	,	PUNCT
faba-177	116	4	this	this	DET
faba-177	116	5	qualitative	qualitative	ADJ
faba-177	116	6	study	study	NOUN
faba-177	116	7	explores	explore	VERB
faba-177	116	8	indonesia	indonesia	PROPN
faba-177	116	9	's	's	PART
faba-177	116	10	pioneering	pioneer	VERB
faba-177	116	11	equity	equity	NOUN
faba-177	116	12	crowdfunding	crowdfunde	VERB
faba-177	116	13	landscape	landscape	NOUN
faba-177	116	14	through	through	ADP
faba-177	116	15	an	an	DET
faba-177	116	16	in	in	ADP
faba-177	116	17	-	-	PUNCT
faba-177	116	18	depth	depth	NOUN
faba-177	116	19	case	case	NOUN
faba-177	116	20	study	study	NOUN
faba-177	116	21	of	of	ADP
faba-177	116	22	the	the	DET
faba-177	116	23	landx	landx	ADJ
faba-177	116	24	platform	platform	NOUN
faba-177	116	25	.	.	PUNCT
faba-177	117	1	examining	examine	VERB
faba-177	117	2	core	core	ADJ
faba-177	117	3	operational	operational	ADJ
faba-177	117	4	processes	process	NOUN
faba-177	117	5	,	,	PUNCT
faba-177	117	6	incentives	incentive	NOUN
faba-177	117	7	,	,	PUNCT
faba-177	117	8	oversight	oversight	NOUN
faba-177	117	9	practices	practice	NOUN
faba-177	117	10	and	and	CCONJ
faba-177	117	11	outcomes	outcome	NOUN
faba-177	117	12	provides	provide	VERB
faba-177	117	13	timely	timely	ADJ
faba-177	117	14	insight	insight	NOUN
faba-177	117	15	into	into	ADP
faba-177	117	16	the	the	DET
faba-177	117	17	promises	promise	NOUN
faba-177	117	18	and	and	CCONJ
faba-177	117	19	realities	reality	NOUN
faba-177	117	20	of	of	ADP
faba-177	117	21	adapting	adapt	VERB
faba-177	117	22	this	this	DET
faba-177	117	23	global	global	ADJ
faba-177	117	24	financial	financial	ADJ
faba-177	117	25	innovation	innovation	NOUN
faba-177	117	26	within	within	ADP
faba-177	117	27	indonesia	indonesia	PROPN
faba-177	117	28	's	's	PART
faba-177	117	29	unique	unique	ADJ
faba-177	117	30	regulatory	regulatory	ADJ
faba-177	117	31	and	and	CCONJ
faba-177	117	32	economic	economic	ADJ
faba-177	117	33	environment	environment	NOUN
faba-177	117	34	.	.	PUNCT
faba-177	118	1	the	the	DET
faba-177	118	2	research	research	NOUN
faba-177	118	3	sanjaya	sanjaya	PROPN
faba-177	118	4	and	and	CCONJ
faba-177	118	5	koesrindartoto	koesrindartoto	PROPN
faba-177	118	6	/	/	SYM
faba-177	118	7	finance	finance	NOUN
faba-177	118	8	,	,	PUNCT
faba-177	118	9	accounting	accounting	NOUN
faba-177	118	10	and	and	CCONJ
faba-177	118	11	business	business	NOUN
faba-177	118	12	analysis	analysis	NOUN
faba-177	118	13	,	,	PUNCT
faba-177	118	14	volume	volume	NOUN
faba-177	118	15	5	5	NUM
faba-177	118	16	,	,	PUNCT
faba-177	118	17	issue	issue	NOUN
faba-177	118	18	2	2	NUM
faba-177	118	19	,	,	PUNCT
faba-177	118	20	2023	2023	NUM
faba-177	118	21	177	177	NUM
faba-177	118	22	findings	finding	NOUN
faba-177	118	23	can	can	AUX
faba-177	118	24	enrich	enrich	VERB
faba-177	118	25	theoretical	theoretical	ADJ
faba-177	118	26	and	and	CCONJ
faba-177	118	27	practical	practical	ADJ
faba-177	118	28	understanding	understanding	NOUN
faba-177	118	29	to	to	PART
faba-177	118	30	responsibly	responsibly	ADV
faba-177	118	31	advance	advance	VERB
faba-177	118	32	equity	equity	NOUN
faba-177	118	33	crowdfunding	crowdfunding	NOUN
faba-177	118	34	as	as	ADP
faba-177	118	35	an	an	DET
faba-177	118	36	inclusive	inclusive	ADJ
faba-177	118	37	funding	funding	NOUN
faba-177	118	38	model	model	NOUN
faba-177	118	39	for	for	ADP
faba-177	118	40	startups	startup	NOUN
faba-177	118	41	and	and	CCONJ
faba-177	118	42	smes	sme	NOUN
faba-177	118	43	in	in	ADP
faba-177	118	44	indonesia	indonesia	PROPN
faba-177	118	45	and	and	CCONJ
faba-177	118	46	similarly	similarly	ADV
faba-177	118	47	developing	develop	VERB
faba-177	118	48	economies	economy	NOUN
faba-177	118	49	.	.	PUNCT
faba-177	119	1	methods	method	NOUN
faba-177	119	2	the	the	DET
faba-177	119	3	methodology	methodology	NOUN
faba-177	119	4	encompasses	encompass	VERB
faba-177	119	5	a	a	DET
faba-177	119	6	qualitative	qualitative	ADJ
faba-177	119	7	analysis	analysis	NOUN
faba-177	119	8	of	of	ADP
faba-177	119	9	equity	equity	NOUN
faba-177	119	10	crowdfunding	crowdfunding	NOUN
faba-177	119	11	platforms	platform	NOUN
faba-177	119	12	in	in	ADP
faba-177	119	13	indonesia	indonesia	PROPN
faba-177	119	14	,	,	PUNCT
faba-177	119	15	primarily	primarily	ADV
faba-177	119	16	focusing	focus	VERB
faba-177	119	17	on	on	ADP
faba-177	119	18	landx	landx	NOUN
faba-177	119	19	.	.	PUNCT
faba-177	120	1	the	the	DET
faba-177	120	2	study	study	NOUN
faba-177	120	3	examines	examine	VERB
faba-177	120	4	various	various	ADJ
faba-177	120	5	aspects	aspect	NOUN
faba-177	120	6	such	such	ADJ
faba-177	120	7	as	as	ADP
faba-177	120	8	platform	platform	NOUN
faba-177	120	9	operations	operation	NOUN
faba-177	120	10	,	,	PUNCT
faba-177	120	11	investor	investor	NOUN
faba-177	120	12	behavior	behavior	NOUN
faba-177	120	13	,	,	PUNCT
faba-177	120	14	regulatory	regulatory	ADJ
faba-177	120	15	compliance	compliance	NOUN
faba-177	120	16	,	,	PUNCT
faba-177	120	17	and	and	CCONJ
faba-177	120	18	issuer	issuer	ADJ
faba-177	120	19	outcomes	outcome	NOUN
faba-177	120	20	.	.	PUNCT
faba-177	121	1	this	this	DET
faba-177	121	2	study	study	NOUN
faba-177	121	3	employ	employ	VERB
faba-177	121	4	a	a	DET
faba-177	121	5	case	case	NOUN
faba-177	121	6	study	study	NOUN
faba-177	121	7	approach	approach	NOUN
faba-177	121	8	,	,	PUNCT
faba-177	121	9	integrating	integrate	VERB
faba-177	121	10	data	datum	NOUN
faba-177	121	11	from	from	ADP
faba-177	121	12	multiple	multiple	ADJ
faba-177	121	13	sources	source	NOUN
faba-177	121	14	including	include	VERB
faba-177	121	15	platform	platform	NOUN
faba-177	121	16	records	record	NOUN
faba-177	121	17	,	,	PUNCT
faba-177	121	18	stakeholder	stakeholder	NOUN
faba-177	121	19	interviews	interview	NOUN
faba-177	121	20	,	,	PUNCT
faba-177	121	21	and	and	CCONJ
faba-177	121	22	regulatory	regulatory	ADJ
faba-177	121	23	filings	filing	NOUN
faba-177	121	24	.	.	PUNCT
faba-177	122	1	this	this	DET
faba-177	122	2	approach	approach	NOUN
faba-177	122	3	is	be	AUX
faba-177	122	4	designed	design	VERB
faba-177	122	5	to	to	PART
faba-177	122	6	provide	provide	VERB
faba-177	122	7	a	a	DET
faba-177	122	8	detailed	detailed	ADJ
faba-177	122	9	and	and	CCONJ
faba-177	122	10	nuanced	nuanced	ADJ
faba-177	122	11	understanding	understanding	NOUN
faba-177	122	12	of	of	ADP
faba-177	122	13	how	how	SCONJ
faba-177	122	14	equity	equity	NOUN
faba-177	122	15	crowdfunding	crowdfunding	NOUN
faba-177	122	16	functions	function	NOUN
faba-177	122	17	in	in	ADP
faba-177	122	18	the	the	DET
faba-177	122	19	indonesian	indonesian	ADJ
faba-177	122	20	context	context	NOUN
faba-177	122	21	,	,	PUNCT
faba-177	122	22	and	and	CCONJ
faba-177	122	23	what	what	PRON
faba-177	122	24	it	it	PRON
faba-177	122	25	means	mean	VERB
faba-177	122	26	for	for	ADP
faba-177	122	27	investors	investor	NOUN
faba-177	122	28	,	,	PUNCT
faba-177	122	29	businesses	business	NOUN
faba-177	122	30	,	,	PUNCT
faba-177	122	31	and	and	CCONJ
faba-177	122	32	regulators	regulator	NOUN
faba-177	123	1	this	this	DET
faba-177	123	2	qualitative	qualitative	ADJ
faba-177	123	3	study	study	NOUN
faba-177	123	4	adopts	adopt	VERB
faba-177	123	5	an	an	DET
faba-177	123	6	exploratory	exploratory	ADJ
faba-177	123	7	,	,	PUNCT
faba-177	123	8	single	single	ADJ
faba-177	123	9	case	case	NOUN
faba-177	123	10	study	study	NOUN
faba-177	123	11	design	design	NOUN
faba-177	123	12	to	to	PART
faba-177	123	13	investigate	investigate	VERB
faba-177	123	14	equity	equity	NOUN
faba-177	123	15	crowdfunding	crowdfunding	NOUN
faba-177	123	16	in	in	ADP
faba-177	123	17	indonesia	indonesia	PROPN
faba-177	123	18	through	through	ADP
faba-177	123	19	the	the	DET
faba-177	123	20	landx	landx	ADJ
faba-177	123	21	platform	platform	NOUN
faba-177	123	22	.	.	PUNCT
faba-177	124	1	case	case	NOUN
faba-177	124	2	study	study	NOUN
faba-177	124	3	methodology	methodology	NOUN
faba-177	124	4	enables	enable	VERB
faba-177	124	5	real	real	ADJ
faba-177	124	6	-	-	PUNCT
faba-177	124	7	world	world	NOUN
faba-177	124	8	inquiry	inquiry	NOUN
faba-177	124	9	into	into	ADP
faba-177	124	10	contemporary	contemporary	ADJ
faba-177	124	11	phenomena	phenomenon	NOUN
faba-177	124	12	(	(	PUNCT
faba-177	124	13	yin	yin	NOUN
faba-177	124	14	2018	2018	NUM
faba-177	124	15	)	)	PUNCT
faba-177	124	16	.	.	PUNCT
faba-177	125	1	landx	landx	PROPN
faba-177	125	2	serves	serve	VERB
faba-177	125	3	as	as	ADP
faba-177	125	4	an	an	DET
faba-177	125	5	instrumental	instrumental	ADJ
faba-177	125	6	case	case	NOUN
faba-177	125	7	study	study	NOUN
faba-177	125	8	to	to	PART
faba-177	125	9	provide	provide	VERB
faba-177	125	10	perspective	perspective	NOUN
faba-177	125	11	into	into	ADP
faba-177	125	12	equity	equity	NOUN
faba-177	125	13	crowdfunding	crowdfunding	NOUN
faba-177	125	14	as	as	ADP
faba-177	125	15	a	a	DET
faba-177	125	16	pioneering	pioneering	ADJ
faba-177	125	17	industry	industry	NOUN
faba-177	125	18	player	player	NOUN
faba-177	125	19	managing	manage	VERB
faba-177	125	20	core	core	NOUN
faba-177	125	21	processes	process	NOUN
faba-177	125	22	from	from	ADP
faba-177	125	23	due	due	ADJ
faba-177	125	24	diligence	diligence	NOUN
faba-177	125	25	to	to	ADP
faba-177	125	26	investor	investor	NOUN
faba-177	125	27	participation	participation	NOUN
faba-177	125	28	.	.	PUNCT
faba-177	126	1	the	the	DET
faba-177	126	2	overarching	overarching	ADJ
faba-177	126	3	knowledge	knowledge	NOUN
faba-177	126	4	gap	gap	NOUN
faba-177	126	5	motivating	motivate	VERB
faba-177	126	6	this	this	DET
faba-177	126	7	research	research	NOUN
faba-177	126	8	involves	involve	VERB
faba-177	126	9	the	the	DET
faba-177	126	10	lack	lack	NOUN
faba-177	126	11	of	of	ADP
faba-177	126	12	scholarly	scholarly	ADJ
faba-177	126	13	attention	attention	NOUN
faba-177	126	14	on	on	ADP
faba-177	126	15	equity	equity	NOUN
faba-177	126	16	crowdfunding	crowdfunding	NOUN
faba-177	126	17	dynamics	dynamic	NOUN
faba-177	126	18	in	in	ADP
faba-177	126	19	developing	develop	VERB
faba-177	126	20	country	country	NOUN
faba-177	126	21	contexts	context	NOUN
faba-177	126	22	like	like	ADP
faba-177	126	23	indonesia	indonesia	PROPN
faba-177	126	24	,	,	PUNCT
faba-177	126	25	despite	despite	SCONJ
faba-177	126	26	strong	strong	ADJ
faba-177	126	27	promise	promise	NOUN
faba-177	126	28	for	for	ADP
faba-177	126	29	fueling	fuel	VERB
faba-177	126	30	startup	startup	NOUN
faba-177	126	31	ecosystems	ecosystem	NOUN
faba-177	126	32	.	.	PUNCT
faba-177	127	1	specifically	specifically	ADV
faba-177	127	2	,	,	PUNCT
faba-177	127	3	the	the	DET
faba-177	127	4	research	research	NOUN
faba-177	127	5	has	have	VERB
faba-177	127	6	four	four	NUM
faba-177	127	7	core	core	NOUN
faba-177	127	8	objectives	objective	NOUN
faba-177	127	9	structured	structure	VERB
faba-177	127	10	around	around	ADP
faba-177	127	11	landx	landx	PROPN
faba-177	127	12	’s	’s	PART
faba-177	127	13	perspective	perspective	NOUN
faba-177	127	14	:	:	PUNCT
faba-177	127	15	1	1	X
faba-177	127	16	.	.	X
faba-177	127	17	to	to	PART
faba-177	127	18	evaluate	evaluate	VERB
faba-177	127	19	the	the	DET
faba-177	127	20	due	due	ADJ
faba-177	127	21	diligence	diligence	NOUN
faba-177	127	22	processes	process	NOUN
faba-177	127	23	employed	employ	VERB
faba-177	127	24	by	by	ADP
faba-177	127	25	landx	landx	NOUN
faba-177	127	26	in	in	ADP
faba-177	127	27	vetting	vet	VERB
faba-177	127	28	entrepreneurs	entrepreneur	NOUN
faba-177	127	29	and	and	CCONJ
faba-177	127	30	projects	project	NOUN
faba-177	127	31	,	,	PUNCT
faba-177	127	32	and	and	CCONJ
faba-177	127	33	assess	assess	VERB
faba-177	127	34	their	their	PRON
faba-177	127	35	effectiveness	effectiveness	NOUN
faba-177	127	36	in	in	ADP
faba-177	127	37	predicting	predict	VERB
faba-177	127	38	success	success	NOUN
faba-177	127	39	;	;	PUNCT
faba-177	127	40	2	2	X
faba-177	127	41	.	.	X
faba-177	127	42	to	to	PART
faba-177	127	43	investigate	investigate	VERB
faba-177	127	44	the	the	DET
faba-177	127	45	primary	primary	ADJ
faba-177	127	46	motivations	motivation	NOUN
faba-177	127	47	and	and	CCONJ
faba-177	127	48	characteristics	characteristic	NOUN
faba-177	127	49	of	of	ADP
faba-177	127	50	landx	landx	ADJ
faba-177	127	51	investors	investor	NOUN
faba-177	127	52	,	,	PUNCT
faba-177	127	53	and	and	CCONJ
faba-177	127	54	analyze	analyze	VERB
faba-177	127	55	how	how	SCONJ
faba-177	127	56	these	these	DET
faba-177	127	57	factors	factor	NOUN
faba-177	127	58	influence	influence	NOUN
faba-177	127	59	behaviors	behavior	NOUN
faba-177	127	60	;	;	PUNCT
faba-177	127	61	3	3	X
faba-177	127	62	.	.	X
faba-177	127	63	to	to	PART
faba-177	127	64	evaluate	evaluate	VERB
faba-177	127	65	how	how	SCONJ
faba-177	127	66	landx	landx	ADJ
faba-177	127	67	navigates	navigate	VERB
faba-177	127	68	the	the	DET
faba-177	127	69	indonesian	indonesian	ADJ
faba-177	127	70	regulatory	regulatory	ADJ
faba-177	127	71	landscape	landscape	NOUN
faba-177	127	72	to	to	PART
faba-177	127	73	mitigate	mitigate	VERB
faba-177	127	74	legal	legal	ADJ
faba-177	127	75	risks	risk	NOUN
faba-177	127	76	;	;	PUNCT
faba-177	127	77	4	4	X
faba-177	127	78	.	.	PUNCT
faba-177	127	79	to	to	PART
faba-177	127	80	measure	measure	VERB
faba-177	127	81	the	the	DET
faba-177	127	82	business	business	NOUN
faba-177	127	83	impact	impact	NOUN
faba-177	127	84	of	of	ADP
faba-177	127	85	listing	list	VERB
faba-177	127	86	on	on	ADP
faba-177	127	87	landx	landx	NOUN
faba-177	127	88	for	for	ADP
faba-177	127	89	hosted	host	VERB
faba-177	127	90	projects	project	NOUN
faba-177	127	91	,	,	PUNCT
faba-177	127	92	and	and	CCONJ
faba-177	127	93	identify	identify	VERB
faba-177	127	94	any	any	DET
faba-177	127	95	additional	additional	ADJ
faba-177	127	96	platform	platform	NOUN
faba-177	127	97	support	support	NOUN
faba-177	127	98	beyond	beyond	ADP
faba-177	127	99	fundraising	fundraise	VERB
faba-177	127	100	.	.	PUNCT
faba-177	128	1	examining	examine	VERB
faba-177	128	2	these	these	DET
faba-177	128	3	issues	issue	NOUN
faba-177	128	4	from	from	ADP
faba-177	128	5	the	the	DET
faba-177	128	6	vantage	vantage	NOUN
faba-177	128	7	point	point	NOUN
faba-177	128	8	of	of	ADP
faba-177	128	9	an	an	DET
faba-177	128	10	established	establish	VERB
faba-177	128	11	industry	industry	NOUN
faba-177	128	12	player	player	NOUN
faba-177	128	13	provides	provide	VERB
faba-177	128	14	insider	insider	NOUN
faba-177	128	15	insight	insight	NOUN
faba-177	128	16	to	to	PART
faba-177	128	17	inform	inform	VERB
faba-177	128	18	balanced	balanced	ADJ
faba-177	128	19	advancement	advancement	NOUN
faba-177	128	20	.	.	PUNCT
faba-177	129	1	in	in	ADP
faba-177	129	2	this	this	DET
faba-177	129	3	qualitative	qualitative	ADJ
faba-177	129	4	study	study	NOUN
faba-177	129	5	,	,	PUNCT
faba-177	129	6	we	we	PRON
faba-177	129	7	adopt	adopt	VERB
faba-177	129	8	a	a	DET
faba-177	129	9	rigorous	rigorous	ADJ
faba-177	129	10	single	single	ADJ
faba-177	129	11	case	case	NOUN
faba-177	129	12	study	study	NOUN
faba-177	129	13	design	design	NOUN
faba-177	129	14	to	to	PART
faba-177	129	15	examine	examine	VERB
faba-177	129	16	equity	equity	NOUN
faba-177	129	17	crowdfunding	crowdfunding	NOUN
faba-177	129	18	in	in	ADP
faba-177	129	19	indonesia	indonesia	PROPN
faba-177	129	20	,	,	PUNCT
faba-177	129	21	focusing	focus	VERB
faba-177	129	22	on	on	ADP
faba-177	129	23	landx	landx	NOUN
faba-177	129	24	.	.	PUNCT
faba-177	130	1	recognizing	recognize	VERB
faba-177	130	2	the	the	DET
faba-177	130	3	limitations	limitation	NOUN
faba-177	130	4	in	in	ADP
faba-177	130	5	data	datum	NOUN
faba-177	130	6	availability	availability	NOUN
faba-177	130	7	,	,	PUNCT
faba-177	130	8	we	we	PRON
faba-177	130	9	employ	employ	VERB
faba-177	130	10	a	a	DET
faba-177	130	11	methodologically	methodologically	ADV
faba-177	130	12	robust	robust	ADJ
faba-177	130	13	approach	approach	NOUN
faba-177	130	14	to	to	PART
faba-177	130	15	extract	extract	VERB
faba-177	130	16	maximal	maximal	ADJ
faba-177	130	17	insights	insight	NOUN
faba-177	130	18	from	from	ADP
faba-177	130	19	the	the	DET
faba-177	130	20	accessible	accessible	ADJ
faba-177	130	21	data	datum	NOUN
faba-177	130	22	.	.	PUNCT
faba-177	131	1	our	our	PRON
faba-177	131	2	methodology	methodology	NOUN
faba-177	131	3	is	be	AUX
faba-177	131	4	grounded	ground	VERB
faba-177	131	5	in	in	ADP
faba-177	131	6	established	establish	VERB
faba-177	131	7	qualitative	qualitative	ADJ
faba-177	131	8	research	research	NOUN
faba-177	131	9	principles	principle	NOUN
faba-177	131	10	,	,	PUNCT
faba-177	131	11	ensuring	ensure	VERB
faba-177	131	12	scientific	scientific	ADJ
faba-177	131	13	rigor	rigor	NOUN
faba-177	131	14	despite	despite	SCONJ
faba-177	131	15	data	datum	NOUN
faba-177	131	16	constraints	constraint	NOUN
faba-177	131	17	.	.	PUNCT
faba-177	132	1	a	a	DET
faba-177	132	2	qualitative	qualitative	NOUN
faba-177	132	3	,	,	PUNCT
faba-177	132	4	single	single	ADJ
faba-177	132	5	case	case	NOUN
faba-177	132	6	study	study	NOUN
faba-177	132	7	approach	approach	NOUN
faba-177	132	8	was	be	AUX
faba-177	132	9	determined	determine	VERB
faba-177	132	10	optimal	optimal	ADJ
faba-177	132	11	to	to	PART
faba-177	132	12	enable	enable	VERB
faba-177	132	13	exploratory	exploratory	ADJ
faba-177	132	14	investigation	investigation	NOUN
faba-177	132	15	of	of	ADP
faba-177	132	16	this	this	DET
faba-177	132	17	contemporary	contemporary	ADJ
faba-177	132	18	phenomenon	phenomenon	NOUN
faba-177	132	19	in	in	ADP
faba-177	132	20	indonesia	indonesia	PROPN
faba-177	132	21	given	give	VERB
faba-177	132	22	current	current	ADJ
faba-177	132	23	nascence	nascence	NOUN
faba-177	132	24	.	.	PUNCT
faba-177	133	1	as	as	ADP
faba-177	133	2	an	an	DET
faba-177	133	3	instrumental	instrumental	ADJ
faba-177	133	4	case	case	NOUN
faba-177	133	5	,	,	PUNCT
faba-177	133	6	analysis	analysis	NOUN
faba-177	133	7	of	of	ADP
faba-177	133	8	the	the	DET
faba-177	133	9	landx	landx	ADJ
faba-177	133	10	platform	platform	NOUN
faba-177	133	11	provides	provide	VERB
faba-177	133	12	perspective	perspective	NOUN
faba-177	133	13	into	into	ADP
faba-177	133	14	real	real	ADJ
faba-177	133	15	-	-	PUNCT
faba-177	133	16	world	world	NOUN
faba-177	133	17	equity	equity	NOUN
faba-177	133	18	crowdfunding	crowdfunding	NOUN
faba-177	133	19	practices	practice	NOUN
faba-177	133	20	,	,	PUNCT
faba-177	133	21	incentives	incentive	NOUN
faba-177	133	22	,	,	PUNCT
faba-177	133	23	challenges	challenge	NOUN
faba-177	133	24	and	and	CCONJ
faba-177	133	25	impacts	impact	NOUN
faba-177	133	26	.	.	PUNCT
faba-177	134	1	primary	primary	ADJ
faba-177	134	2	data	datum	NOUN
faba-177	134	3	was	be	AUX
faba-177	134	4	gathered	gather	VERB
faba-177	134	5	through	through	ADP
faba-177	134	6	hour	hour	NOUN
faba-177	134	7	-	-	PUNCT
faba-177	134	8	long	long	ADJ
faba-177	134	9	semi	semi	ADJ
faba-177	134	10	-	-	ADJ
faba-177	134	11	structured	structured	ADJ
faba-177	134	12	video	video	NOUN
faba-177	134	13	interviews	interview	NOUN
faba-177	134	14	with	with	ADP
faba-177	134	15	5	5	NUM
faba-177	134	16	key	key	ADJ
faba-177	134	17	company	company	NOUN
faba-177	134	18	personnel	personnel	NOUN
faba-177	134	19	,	,	PUNCT
faba-177	134	20	a	a	DET
faba-177	134	21	method	method	NOUN
faba-177	134	22	widely	widely	ADV
faba-177	134	23	recognized	recognize	VERB
faba-177	134	24	for	for	ADP
faba-177	134	25	its	its	PRON
faba-177	134	26	effectiveness	effectiveness	NOUN
faba-177	134	27	in	in	ADP
faba-177	134	28	exploring	explore	VERB
faba-177	134	29	complex	complex	ADJ
faba-177	134	30	phenomena	phenomenon	NOUN
faba-177	134	31	in	in	ADP
faba-177	134	32	depth	depth	NOUN
faba-177	134	33	,	,	PUNCT
faba-177	134	34	allowing	allow	VERB
faba-177	134	35	in	in	ADP
faba-177	134	36	-	-	PUNCT
faba-177	134	37	depth	depth	NOUN
faba-177	134	38	narratives	narrative	NOUN
faba-177	134	39	regarding	regard	VERB
faba-177	134	40	operational	operational	ADJ
faba-177	134	41	processes	process	NOUN
faba-177	134	42	,	,	PUNCT
faba-177	134	43	investor	investor	NOUN
faba-177	134	44	management	management	NOUN
faba-177	134	45	,	,	PUNCT
faba-177	134	46	regulatory	regulatory	ADJ
faba-177	134	47	issues	issue	NOUN
faba-177	134	48	and	and	CCONJ
faba-177	134	49	business	business	NOUN
faba-177	134	50	outcomes	outcome	NOUN
faba-177	134	51	from	from	ADP
faba-177	134	52	crowdfunding	crowdfunde	VERB
faba-177	134	53	.	.	PUNCT
faba-177	135	1	purposive	purposive	ADJ
faba-177	135	2	sampling	sampling	NOUN
faba-177	135	3	was	be	AUX
faba-177	135	4	employed	employ	VERB
faba-177	135	5	to	to	PART
faba-177	135	6	select	select	VERB
faba-177	135	7	informants	informant	NOUN
faba-177	135	8	who	who	PRON
faba-177	135	9	offer	offer	VERB
faba-177	135	10	a	a	DET
faba-177	135	11	diverse	diverse	ADJ
faba-177	135	12	yet	yet	ADV
faba-177	135	13	focused	focus	VERB
faba-177	135	14	perspective	perspective	NOUN
faba-177	135	15	on	on	ADP
faba-177	135	16	landx	landx	PROPN
faba-177	135	17	's	's	PART
faba-177	135	18	operations	operation	NOUN
faba-177	135	19	.	.	PUNCT
faba-177	136	1	these	these	DET
faba-177	136	2	interviews	interview	NOUN
faba-177	136	3	,	,	PUNCT
faba-177	136	4	conducted	conduct	VERB
faba-177	136	5	with	with	ADP
faba-177	136	6	the	the	DET
faba-177	136	7	utmost	utmost	ADJ
faba-177	136	8	rigor	rigor	NOUN
faba-177	136	9	,	,	PUNCT
faba-177	136	10	are	be	AUX
faba-177	136	11	crucial	crucial	ADJ
faba-177	136	12	in	in	ADP
faba-177	136	13	unearthing	unearth	VERB
faba-177	136	14	rich	rich	ADJ
faba-177	136	15	,	,	PUNCT
faba-177	136	16	nuanced	nuanced	ADJ
faba-177	136	17	insights	insight	NOUN
faba-177	136	18	into	into	ADP
faba-177	136	19	crowdfunding	crowdfunding	NOUN
faba-177	136	20	practices	practice	NOUN
faba-177	136	21	.	.	PUNCT
faba-177	137	1	an	an	DET
faba-177	137	2	open	open	ADV
faba-177	137	3	-	-	PUNCT
faba-177	137	4	ended	end	VERB
faba-177	137	5	protocol	protocol	NOUN
faba-177	137	6	aligning	align	VERB
faba-177	137	7	with	with	ADP
faba-177	137	8	research	research	NOUN
faba-177	137	9	objectives	objective	NOUN
faba-177	137	10	guided	guide	VERB
faba-177	137	11	discussion	discussion	NOUN
faba-177	137	12	.	.	PUNCT
faba-177	138	1	secondary	secondary	ADJ
faba-177	138	2	data	datum	NOUN
faba-177	138	3	encompassed	encompass	VERB
faba-177	138	4	internal	internal	ADJ
faba-177	138	5	landx	landx	ADJ
faba-177	138	6	documents	document	NOUN
faba-177	138	7	covering	cover	VERB
faba-177	138	8	due	due	ADJ
faba-177	138	9	diligence	diligence	NOUN
faba-177	138	10	criteria	criterion	NOUN
faba-177	138	11	,	,	PUNCT
faba-177	138	12	investment	investment	NOUN
faba-177	138	13	memos	memo	NOUN
faba-177	138	14	,	,	PUNCT
faba-177	138	15	risk	risk	NOUN
faba-177	138	16	policies	policy	NOUN
faba-177	138	17	and	and	CCONJ
faba-177	138	18	funded	fund	VERB
faba-177	138	19	issuer	issuer	ADJ
faba-177	138	20	financial	financial	ADJ
faba-177	138	21	statements	statement	NOUN
faba-177	138	22	,	,	PUNCT
faba-177	138	23	providing	provide	VERB
faba-177	138	24	insights	insight	NOUN
faba-177	138	25	into	into	ADP
faba-177	138	26	decision	decision	NOUN
faba-177	138	27	practices	practice	NOUN
faba-177	138	28	,	,	PUNCT
faba-177	138	29	governance	governance	NOUN
faba-177	138	30	policies	policy	NOUN
faba-177	138	31	and	and	CCONJ
faba-177	138	32	observable	observable	ADJ
faba-177	138	33	funding	funding	NOUN
faba-177	138	34	impacts	impact	NOUN
faba-177	138	35	.	.	PUNCT
faba-177	139	1	internal	internal	ADJ
faba-177	139	2	landx	landx	ADJ
faba-177	139	3	documents	document	NOUN
faba-177	139	4	provided	provide	VERB
faba-177	139	5	supplementary	supplementary	ADJ
faba-177	139	6	data	datum	NOUN
faba-177	139	7	to	to	PART
faba-177	139	8	contextualize	contextualize	VERB
faba-177	139	9	and	and	CCONJ
faba-177	139	10	corroborate	corroborate	VERB
faba-177	139	11	findings	finding	NOUN
faba-177	139	12	.	.	PUNCT
faba-177	140	1	specifically	specifically	ADV
faba-177	140	2	,	,	PUNCT
faba-177	140	3	due	due	ADJ
faba-177	140	4	diligence	diligence	NOUN
faba-177	140	5	criteria	criterion	NOUN
faba-177	140	6	and	and	CCONJ
faba-177	140	7	weighted	weight	VERB
faba-177	140	8	scoring	scoring	NOUN
faba-177	140	9	forms	form	NOUN
faba-177	140	10	gave	give	VERB
faba-177	140	11	direct	direct	ADJ
faba-177	140	12	insight	insight	NOUN
faba-177	140	13	into	into	ADP
faba-177	140	14	vetting	vetting	NOUN
faba-177	140	15	processes	process	NOUN
faba-177	140	16	.	.	PUNCT
faba-177	141	1	investment	investment	NOUN
faba-177	141	2	memos	memo	NOUN
faba-177	141	3	and	and	CCONJ
faba-177	141	4	risk	risk	NOUN
faba-177	141	5	policies	policy	NOUN
faba-177	141	6	revealed	reveal	VERB
faba-177	141	7	decisionmaking	decisionmake	VERB
faba-177	141	8	.	.	PUNCT
faba-177	142	1	financial	financial	ADJ
faba-177	142	2	records	record	NOUN
faba-177	142	3	of	of	ADP
faba-177	142	4	funded	funded	ADJ
faba-177	142	5	issuers	issuer	NOUN
faba-177	142	6	enabled	enable	VERB
faba-177	142	7	analysis	analysis	NOUN
faba-177	142	8	of	of	ADP
faba-177	142	9	business	business	NOUN
faba-177	142	10	growth	growth	NOUN
faba-177	142	11	attributable	attributable	ADJ
faba-177	142	12	to	to	ADP
faba-177	142	13	crowdfunding	crowdfunde	VERB
faba-177	142	14	participation	participation	NOUN
faba-177	142	15	.	.	PUNCT
faba-177	143	1	the	the	DET
faba-177	143	2	mixed	mixed	ADJ
faba-177	143	3	methods	method	NOUN
faba-177	143	4	facilitated	facilitate	VERB
faba-177	143	5	data	datum	NOUN
faba-177	143	6	triangulation	triangulation	NOUN
faba-177	143	7	.	.	PUNCT
faba-177	144	1	documents	document	NOUN
faba-177	144	2	were	be	AUX
faba-177	144	3	identified	identify	VERB
faba-177	144	4	through	through	ADP
faba-177	144	5	requests	request	NOUN
faba-177	144	6	to	to	ADP
faba-177	144	7	management	management	NOUN
faba-177	144	8	and	and	CCONJ
faba-177	144	9	searches	search	NOUN
faba-177	144	10	of	of	ADP
faba-177	144	11	databases	database	NOUN
faba-177	144	12	and	and	CCONJ
faba-177	144	13	repositories	repository	NOUN
faba-177	144	14	based	base	VERB
faba-177	144	15	on	on	ADP
faba-177	144	16	relevance	relevance	NOUN
faba-177	144	17	to	to	ADP
faba-177	144	18	the	the	DET
faba-177	144	19	research	research	NOUN
faba-177	144	20	scope	scope	NOUN
faba-177	144	21	.	.	PUNCT
faba-177	145	1	materials	material	NOUN
faba-177	145	2	from	from	ADP
faba-177	145	3	november	november	PROPN
faba-177	145	4	2022	2022	NUM
faba-177	145	5	may	may	AUX
faba-177	145	6	2023	2023	NUM
faba-177	145	7	provided	provide	VERB
faba-177	145	8	insights	insight	NOUN
faba-177	145	9	into	into	ADP
faba-177	145	10	operational	operational	ADJ
faba-177	145	11	processes	process	NOUN
faba-177	145	12	and	and	CCONJ
faba-177	145	13	outcomes	outcome	NOUN
faba-177	145	14	.	.	PUNCT
faba-177	146	1	the	the	DET
faba-177	146	2	analysis	analysis	NOUN
faba-177	146	3	is	be	AUX
faba-177	146	4	underpinned	underpin	VERB
faba-177	146	5	by	by	ADP
faba-177	146	6	braun	braun	NOUN
faba-177	146	7	and	and	CCONJ
faba-177	146	8	clarke	clarke	PROPN
faba-177	146	9	's	's	PART
faba-177	146	10	thematic	thematic	ADJ
faba-177	146	11	analysis	analysis	NOUN
faba-177	146	12	,	,	PUNCT
faba-177	146	13	a	a	DET
faba-177	146	14	method	method	NOUN
faba-177	146	15	renowned	renowne	VERB
faba-177	146	16	for	for	ADP
faba-177	146	17	its	its	PRON
faba-177	146	18	effectiveness	effectiveness	NOUN
faba-177	146	19	in	in	ADP
faba-177	146	20	qualitative	qualitative	ADJ
faba-177	146	21	research	research	NOUN
faba-177	146	22	.	.	PUNCT
faba-177	147	1	this	this	PRON
faba-177	147	2	detailed	detailed	ADJ
faba-177	147	3	,	,	PUNCT
faba-177	147	4	iterative	iterative	NOUN
faba-177	147	5	process	process	NOUN
faba-177	147	6	allows	allow	VERB
faba-177	147	7	for	for	ADP
faba-177	147	8	the	the	DET
faba-177	147	9	inductive	inductive	ADJ
faba-177	147	10	emergence	emergence	NOUN
faba-177	147	11	of	of	ADP
faba-177	147	12	themes	theme	NOUN
faba-177	147	13	,	,	PUNCT
faba-177	147	14	ensuring	ensure	VERB
faba-177	147	15	that	that	SCONJ
faba-177	147	16	our	our	PRON
faba-177	147	17	findings	finding	NOUN
faba-177	147	18	are	be	AUX
faba-177	147	19	firmly	firmly	ADV
faba-177	147	20	rooted	root	VERB
faba-177	147	21	in	in	ADP
faba-177	147	22	the	the	DET
faba-177	147	23	data	datum	NOUN
faba-177	147	24	.	.	PUNCT
faba-177	148	1	the	the	DET
faba-177	148	2	use	use	NOUN
faba-177	148	3	of	of	ADP
faba-177	148	4	descriptive	descriptive	ADJ
faba-177	148	5	statistics	statistic	NOUN
faba-177	148	6	from	from	ADP
faba-177	148	7	the	the	DET
faba-177	148	8	documents	document	NOUN
faba-177	148	9	further	far	ADV
faba-177	148	10	augments	augment	VERB
faba-177	148	11	our	our	PRON
faba-177	148	12	qualitative	qualitative	ADJ
faba-177	148	13	insights	insight	NOUN
faba-177	148	14	,	,	PUNCT
faba-177	148	15	providing	provide	VERB
faba-177	148	16	a	a	DET
faba-177	148	17	more	more	ADV
faba-177	148	18	comprehensive	comprehensive	ADJ
faba-177	148	19	understanding	understanding	NOUN
faba-177	148	20	.	.	PUNCT
faba-177	149	1	the	the	DET
faba-177	149	2	rigorous	rigorous	ADJ
faba-177	149	3	coding	coding	NOUN
faba-177	149	4	process	process	NOUN
faba-177	149	5	facilitated	facilitate	VERB
faba-177	149	6	deep	deep	ADJ
faba-177	149	7	data	datum	NOUN
faba-177	149	8	immersion	immersion	NOUN
faba-177	149	9	to	to	PART
faba-177	149	10	extract	extract	VERB
faba-177	149	11	key	key	ADJ
faba-177	149	12	themes	theme	NOUN
faba-177	149	13	,	,	PUNCT
faba-177	149	14	experiences	experience	NOUN
faba-177	149	15	and	and	CCONJ
faba-177	149	16	interpretations	interpretation	NOUN
faba-177	149	17	inductively	inductively	ADV
faba-177	149	18	from	from	ADP
faba-177	149	19	the	the	DET
faba-177	149	20	empirical	empirical	ADJ
faba-177	149	21	evidence	evidence	NOUN
faba-177	149	22	.	.	PUNCT
faba-177	150	1	themes	theme	NOUN
faba-177	150	2	were	be	AUX
faba-177	150	3	analyzed	analyze	VERB
faba-177	150	4	in	in	ADP
faba-177	150	5	relation	relation	NOUN
faba-177	150	6	to	to	ADP
faba-177	150	7	the	the	DET
faba-177	150	8	research	research	NOUN
faba-177	150	9	objectives	objective	NOUN
faba-177	150	10	to	to	PART
faba-177	150	11	develop	develop	VERB
faba-177	150	12	a	a	DET
faba-177	150	13	holistic	holistic	ADJ
faba-177	150	14	,	,	PUNCT
faba-177	150	15	contextualized	contextualized	ADJ
faba-177	150	16	understanding	understanding	NOUN
faba-177	150	17	.	.	PUNCT
faba-177	151	1	descriptive	descriptive	ADJ
faba-177	151	2	statistics	statistic	NOUN
faba-177	151	3	from	from	ADP
faba-177	151	4	documents	document	NOUN
faba-177	151	5	sanjaya	sanjaya	PROPN
faba-177	151	6	and	and	CCONJ
faba-177	151	7	koesrindartoto	koesrindartoto	PROPN
faba-177	151	8	/	/	SYM
faba-177	151	9	finance	finance	NOUN
faba-177	151	10	,	,	PUNCT
faba-177	151	11	accounting	accounting	NOUN
faba-177	151	12	and	and	CCONJ
faba-177	151	13	business	business	NOUN
faba-177	151	14	analysis	analysis	NOUN
faba-177	151	15	,	,	PUNCT
faba-177	151	16	volume	volume	NOUN
faba-177	151	17	5	5	NUM
faba-177	151	18	,	,	PUNCT
faba-177	151	19	issue	issue	NOUN
faba-177	151	20	2	2	NUM
faba-177	151	21	,	,	PUNCT
faba-177	151	22	2023	2023	NUM
faba-177	151	23	178	178	NUM
faba-177	151	24	supplemented	supplement	VERB
faba-177	151	25	the	the	DET
faba-177	151	26	qualitative	qualitative	ADJ
faba-177	151	27	insights	insight	NOUN
faba-177	151	28	.	.	PUNCT
faba-177	152	1	appropriate	appropriate	ADJ
faba-177	152	2	protocols	protocol	NOUN
faba-177	152	3	were	be	AUX
faba-177	152	4	followed	follow	VERB
faba-177	152	5	to	to	PART
faba-177	152	6	strengthen	strengthen	VERB
faba-177	152	7	validity	validity	NOUN
faba-177	152	8	and	and	CCONJ
faba-177	152	9	reliability	reliability	NOUN
faba-177	152	10	.	.	PUNCT
faba-177	153	1	data	datum	NOUN
faba-177	153	2	sources	source	NOUN
faba-177	153	3	were	be	AUX
faba-177	153	4	triangulated	triangulate	VERB
faba-177	153	5	to	to	PART
faba-177	153	6	substantiate	substantiate	VERB
faba-177	153	7	findings	finding	NOUN
faba-177	153	8	.	.	PUNCT
faba-177	154	1	convergence	convergence	NOUN
faba-177	154	2	and	and	CCONJ
faba-177	154	3	divergence	divergence	NOUN
faba-177	154	4	between	between	ADP
faba-177	154	5	perspectives	perspective	NOUN
faba-177	154	6	were	be	AUX
faba-177	154	7	examined	examine	VERB
faba-177	154	8	.	.	PUNCT
faba-177	155	1	representative	representative	ADJ
faba-177	155	2	excerpts	excerpt	NOUN
faba-177	155	3	were	be	AUX
faba-177	155	4	used	use	VERB
faba-177	155	5	to	to	PART
faba-177	155	6	ground	ground	VERB
faba-177	155	7	interpretations	interpretation	NOUN
faba-177	155	8	in	in	ADP
faba-177	155	9	the	the	DET
faba-177	155	10	data	datum	NOUN
faba-177	155	11	.	.	PUNCT
faba-177	156	1	a	a	DET
faba-177	156	2	systematic	systematic	ADJ
faba-177	156	3	process	process	NOUN
faba-177	156	4	of	of	ADP
faba-177	156	5	thematic	thematic	ADJ
faba-177	156	6	analysis	analysis	NOUN
faba-177	156	7	enabled	enable	VERB
faba-177	156	8	rich	rich	ADJ
faba-177	156	9	,	,	PUNCT
faba-177	156	10	multilayered	multilayere	VERB
faba-177	156	11	findings	finding	NOUN
faba-177	156	12	from	from	ADP
faba-177	156	13	the	the	DET
faba-177	156	14	case	case	NOUN
faba-177	156	15	study	study	NOUN
faba-177	156	16	data	datum	NOUN
faba-177	156	17	.	.	PUNCT
faba-177	157	1	this	this	DET
faba-177	157	2	methodological	methodological	ADJ
faba-177	157	3	approach	approach	NOUN
faba-177	157	4	allowed	allow	VERB
faba-177	157	5	for	for	ADP
faba-177	157	6	an	an	DET
faba-177	157	7	information	information	NOUN
faba-177	157	8	-	-	PUNCT
faba-177	157	9	rich	rich	ADJ
faba-177	157	10	,	,	PUNCT
faba-177	157	11	contextualized	contextualized	ADJ
faba-177	157	12	investigation	investigation	NOUN
faba-177	157	13	of	of	ADP
faba-177	157	14	how	how	SCONJ
faba-177	157	15	landx	landx	ADJ
faba-177	157	16	conducts	conduct	NOUN
faba-177	157	17	due	due	ADJ
faba-177	157	18	diligence	diligence	NOUN
faba-177	157	19	,	,	PUNCT
faba-177	157	20	manages	manage	VERB
faba-177	157	21	investors	investor	NOUN
faba-177	157	22	,	,	PUNCT
faba-177	157	23	navigates	navigate	VERB
faba-177	157	24	regulations	regulation	NOUN
faba-177	157	25	,	,	PUNCT
faba-177	157	26	and	and	CCONJ
faba-177	157	27	impacts	impact	VERB
faba-177	157	28	funded	fund	VERB
faba-177	157	29	companies	company	NOUN
faba-177	157	30	based	base	VERB
faba-177	157	31	on	on	ADP
faba-177	157	32	diverse	diverse	ADJ
faba-177	157	33	sources	source	NOUN
faba-177	157	34	of	of	ADP
faba-177	157	35	contemporary	contemporary	ADJ
faba-177	157	36	evidence	evidence	NOUN
faba-177	157	37	.	.	PUNCT
faba-177	158	1	while	while	SCONJ
faba-177	158	2	generalizability	generalizability	NOUN
faba-177	158	3	is	be	AUX
faba-177	158	4	limited	limit	VERB
faba-177	158	5	as	as	ADP
faba-177	158	6	an	an	DET
faba-177	158	7	exploratory	exploratory	ADJ
faba-177	158	8	single	single	ADJ
faba-177	158	9	case	case	NOUN
faba-177	158	10	study	study	NOUN
faba-177	158	11	,	,	PUNCT
faba-177	158	12	the	the	DET
faba-177	158	13	in	in	ADP
faba-177	158	14	-	-	PUNCT
faba-177	158	15	depth	depth	NOUN
faba-177	158	16	analysis	analysis	NOUN
faba-177	158	17	of	of	ADP
faba-177	158	18	a	a	DET
faba-177	158	19	leading	lead	VERB
faba-177	158	20	platform	platform	NOUN
faba-177	158	21	provides	provide	VERB
faba-177	158	22	an	an	DET
faba-177	158	23	important	important	ADJ
faba-177	158	24	foundation	foundation	NOUN
faba-177	158	25	and	and	CCONJ
faba-177	158	26	agenda	agenda	NOUN
faba-177	158	27	for	for	ADP
faba-177	158	28	future	future	ADJ
faba-177	158	29	research	research	NOUN
faba-177	158	30	as	as	ADP
faba-177	158	31	equity	equity	NOUN
faba-177	158	32	crowdfunding	crowdfunding	NOUN
faba-177	158	33	evolves	evolve	NOUN
faba-177	158	34	in	in	ADP
faba-177	158	35	indonesia	indonesia	PROPN
faba-177	158	36	.	.	PUNCT
faba-177	159	1	methodological	methodological	ADJ
faba-177	159	2	rigor	rigor	NOUN
faba-177	159	3	is	be	AUX
faba-177	159	4	evident	evident	ADJ
faba-177	159	5	in	in	ADP
faba-177	159	6	the	the	DET
faba-177	159	7	systematic	systematic	ADJ
faba-177	159	8	thematic	thematic	ADJ
faba-177	159	9	analysis	analysis	NOUN
faba-177	159	10	and	and	CCONJ
faba-177	159	11	the	the	DET
faba-177	159	12	careful	careful	ADJ
faba-177	159	13	triangulation	triangulation	NOUN
faba-177	159	14	of	of	ADP
faba-177	159	15	data	datum	NOUN
faba-177	159	16	sources	source	NOUN
faba-177	159	17	.	.	PUNCT
faba-177	160	1	this	this	DET
faba-177	160	2	approach	approach	NOUN
faba-177	160	3	not	not	PART
faba-177	160	4	only	only	ADV
faba-177	160	5	strengthens	strengthen	VERB
faba-177	160	6	the	the	DET
faba-177	160	7	validity	validity	NOUN
faba-177	160	8	of	of	ADP
faba-177	160	9	findings	finding	NOUN
faba-177	160	10	but	but	CCONJ
faba-177	160	11	also	also	ADV
faba-177	160	12	addresses	address	VERB
faba-177	160	13	potential	potential	ADJ
faba-177	160	14	limitations	limitation	NOUN
faba-177	160	15	due	due	ADP
faba-177	160	16	to	to	ADP
faba-177	160	17	the	the	DET
faba-177	160	18	qualitative	qualitative	ADJ
faba-177	160	19	nature	nature	NOUN
faba-177	160	20	of	of	ADP
faba-177	160	21	the	the	DET
faba-177	160	22	study	study	NOUN
faba-177	160	23	.	.	PUNCT
faba-177	161	1	the	the	DET
faba-177	161	2	depth	depth	NOUN
faba-177	161	3	and	and	CCONJ
faba-177	161	4	richness	richness	NOUN
faba-177	161	5	of	of	ADP
faba-177	161	6	qualitative	qualitative	ADJ
faba-177	161	7	analysis	analysis	NOUN
faba-177	161	8	provide	provide	VERB
faba-177	161	9	valuable	valuable	ADJ
faba-177	161	10	insights	insight	NOUN
faba-177	161	11	into	into	ADP
faba-177	161	12	equity	equity	NOUN
faba-177	161	13	crowdfunding	crowdfunding	NOUN
faba-177	161	14	in	in	ADP
faba-177	161	15	indonesia	indonesia	PROPN
faba-177	161	16	,	,	PUNCT
faba-177	161	17	contributing	contribute	VERB
faba-177	161	18	significantly	significantly	ADV
faba-177	161	19	to	to	ADP
faba-177	161	20	the	the	DET
faba-177	161	21	field	field	NOUN
faba-177	161	22	despite	despite	SCONJ
faba-177	161	23	the	the	DET
faba-177	161	24	exploratory	exploratory	ADJ
faba-177	161	25	nature	nature	NOUN
faba-177	161	26	of	of	ADP
faba-177	161	27	this	this	DET
faba-177	161	28	single	single	ADJ
faba-177	161	29	case	case	NOUN
faba-177	161	30	study	study	NOUN
faba-177	161	31	.	.	PUNCT
faba-177	162	1	as	as	ADP
faba-177	162	2	an	an	DET
faba-177	162	3	exploratory	exploratory	ADJ
faba-177	162	4	single	single	ADJ
faba-177	162	5	case	case	NOUN
faba-177	162	6	study	study	NOUN
faba-177	162	7	,	,	PUNCT
faba-177	162	8	findings	finding	NOUN
faba-177	162	9	may	may	AUX
faba-177	162	10	not	not	PART
faba-177	162	11	be	be	AUX
faba-177	162	12	generalizable	generalizable	ADJ
faba-177	162	13	without	without	ADP
faba-177	162	14	further	further	ADJ
faba-177	162	15	research	research	NOUN
faba-177	162	16	on	on	ADP
faba-177	162	17	diverse	diverse	ADJ
faba-177	162	18	platforms	platform	NOUN
faba-177	162	19	.	.	PUNCT
faba-177	163	1	the	the	DET
faba-177	163	2	sample	sample	NOUN
faba-177	163	3	size	size	NOUN
faba-177	163	4	of	of	ADP
faba-177	163	5	5	5	NUM
faba-177	163	6	key	key	ADJ
faba-177	163	7	informants	informant	NOUN
faba-177	163	8	,	,	PUNCT
faba-177	163	9	while	while	SCONJ
faba-177	163	10	sufficient	sufficient	ADJ
faba-177	163	11	for	for	ADP
faba-177	163	12	this	this	DET
faba-177	163	13	initiating	initiate	VERB
faba-177	163	14	study	study	NOUN
faba-177	163	15	,	,	PUNCT
faba-177	163	16	limits	limit	VERB
faba-177	163	17	perspectives	perspective	NOUN
faba-177	163	18	.	.	PUNCT
faba-177	164	1	the	the	DET
faba-177	164	2	document	document	NOUN
faba-177	164	3	sources	source	NOUN
faba-177	164	4	offer	offer	VERB
faba-177	164	5	snapshots	snapshot	NOUN
faba-177	164	6	requiring	require	VERB
faba-177	164	7	holistic	holistic	ADJ
faba-177	164	8	process	process	NOUN
faba-177	164	9	tracking	tracking	NOUN
faba-177	164	10	.	.	PUNCT
faba-177	165	1	as	as	ADP
faba-177	165	2	a	a	DET
faba-177	165	3	pioneering	pioneering	ADJ
faba-177	165	4	industry	industry	NOUN
faba-177	165	5	,	,	PUNCT
faba-177	165	6	quantifiable	quantifiable	ADJ
faba-177	165	7	data	datum	NOUN
faba-177	165	8	remains	remain	VERB
faba-177	165	9	sparse	sparse	ADJ
faba-177	165	10	.	.	PUNCT
faba-177	166	1	while	while	SCONJ
faba-177	166	2	providing	provide	VERB
faba-177	166	3	foundational	foundational	ADJ
faba-177	166	4	understandings	understanding	NOUN
faba-177	166	5	,	,	PUNCT
faba-177	166	6	the	the	DET
faba-177	166	7	qualitative	qualitative	ADJ
faba-177	166	8	approach	approach	NOUN
faba-177	166	9	can	can	AUX
faba-177	166	10	not	not	PART
faba-177	166	11	isolate	isolate	VERB
faba-177	166	12	crowdfunding	crowdfunding	NOUN
faba-177	166	13	as	as	ADP
faba-177	166	14	the	the	DET
faba-177	166	15	definitive	definitive	ADJ
faba-177	166	16	factor	factor	NOUN
faba-177	166	17	influencing	influence	VERB
faba-177	166	18	outcomes	outcome	NOUN
faba-177	166	19	without	without	ADP
faba-177	166	20	control	control	NOUN
faba-177	166	21	groups	group	NOUN
faba-177	166	22	.	.	PUNCT
faba-177	167	1	this	this	DET
faba-177	167	2	paper	paper	NOUN
faba-177	167	3	argues	argue	VERB
faba-177	167	4	that	that	SCONJ
faba-177	167	5	as	as	SCONJ
faba-177	167	6	equity	equity	NOUN
faba-177	167	7	crowdfunding	crowdfunding	NOUN
faba-177	167	8	emerges	emerge	VERB
faba-177	167	9	in	in	ADP
faba-177	167	10	indonesia	indonesia	PROPN
faba-177	167	11	,	,	PUNCT
faba-177	167	12	a	a	DET
faba-177	167	13	balanced	balanced	ADJ
faba-177	167	14	ecosystem	ecosystem	NOUN
faba-177	167	15	is	be	AUX
faba-177	167	16	necessary	necessary	ADJ
faba-177	167	17	to	to	PART
faba-177	167	18	expand	expand	VERB
faba-177	167	19	alternative	alternative	ADJ
faba-177	167	20	funding	funding	NOUN
faba-177	167	21	options	option	NOUN
faba-177	167	22	and	and	CCONJ
faba-177	167	23	democratized	democratize	VERB
faba-177	167	24	investment	investment	NOUN
faba-177	167	25	access	access	NOUN
faba-177	167	26	while	while	SCONJ
faba-177	167	27	ensuring	ensure	VERB
faba-177	167	28	prudent	prudent	ADJ
faba-177	167	29	practices	practice	NOUN
faba-177	167	30	.	.	PUNCT
faba-177	168	1	assessing	assess	VERB
faba-177	168	2	the	the	DET
faba-177	168	3	case	case	NOUN
faba-177	168	4	of	of	ADP
faba-177	168	5	landx	landx	NOUN
faba-177	168	6	aims	aim	NOUN
faba-177	168	7	to	to	PART
faba-177	168	8	develop	develop	VERB
faba-177	168	9	exploratory	exploratory	ADJ
faba-177	168	10	insight	insight	NOUN
faba-177	168	11	into	into	ADP
faba-177	168	12	how	how	SCONJ
faba-177	168	13	leading	lead	VERB
faba-177	168	14	platforms	platform	NOUN
faba-177	168	15	manage	manage	VERB
faba-177	168	16	operational	operational	ADJ
faba-177	168	17	processes	process	NOUN
faba-177	168	18	,	,	PUNCT
faba-177	168	19	user	user	NOUN
faba-177	168	20	incentives	incentive	NOUN
faba-177	168	21	,	,	PUNCT
faba-177	168	22	regulations	regulation	NOUN
faba-177	168	23	and	and	CCONJ
faba-177	168	24	outcomes	outcome	NOUN
faba-177	168	25	to	to	PART
faba-177	168	26	responsibly	responsibly	ADV
faba-177	168	27	scale	scale	VERB
faba-177	168	28	this	this	DET
faba-177	168	29	financial	financial	ADJ
faba-177	168	30	innovation	innovation	NOUN
faba-177	168	31	for	for	ADP
faba-177	168	32	sustainable	sustainable	ADJ
faba-177	168	33	impact	impact	NOUN
faba-177	168	34	.	.	PUNCT
faba-177	169	1	the	the	DET
faba-177	169	2	thesis	thesis	NOUN
faba-177	169	3	contends	contend	VERB
faba-177	169	4	that	that	SCONJ
faba-177	169	5	long	long	ADJ
faba-177	169	6	-	-	PUNCT
faba-177	169	7	term	term	NOUN
faba-177	169	8	equity	equity	NOUN
faba-177	169	9	crowdfunding	crowdfunding	NOUN
faba-177	169	10	viability	viability	NOUN
faba-177	169	11	requires	require	VERB
faba-177	169	12	evidence	evidence	NOUN
faba-177	169	13	-	-	PUNCT
faba-177	169	14	based	base	VERB
faba-177	169	15	policies	policy	NOUN
faba-177	169	16	and	and	CCONJ
faba-177	169	17	protections	protection	NOUN
faba-177	169	18	calibrated	calibrate	VERB
faba-177	169	19	to	to	ADP
faba-177	169	20	local	local	ADJ
faba-177	169	21	contexts	contexts	NOUN
faba-177	169	22	,	,	PUNCT
faba-177	169	23	signaling	signal	VERB
faba-177	169	24	legitimacy	legitimacy	NOUN
faba-177	169	25	amid	amid	ADP
faba-177	169	26	fluid	fluid	ADJ
faba-177	169	27	policies	policy	NOUN
faba-177	169	28	to	to	PART
faba-177	169	29	enable	enable	VERB
faba-177	169	30	progress	progress	NOUN
faba-177	169	31	matching	match	VERB
faba-177	169	32	the	the	DET
faba-177	169	33	sector	sector	NOUN
faba-177	169	34	’s	’s	PART
faba-177	169	35	rapid	rapid	ADJ
faba-177	169	36	growth	growth	NOUN
faba-177	169	37	.	.	PUNCT
faba-177	170	1	platforms	platform	NOUN
faba-177	170	2	like	like	ADP
faba-177	170	3	landx	landx	NOUN
faba-177	170	4	provide	provide	VERB
faba-177	170	5	an	an	DET
faba-177	170	6	instrumental	instrumental	ADJ
faba-177	170	7	case	case	NOUN
faba-177	170	8	study	study	NOUN
faba-177	170	9	demonstrating	demonstrate	VERB
faba-177	170	10	nuanced	nuanced	ADJ
faba-177	170	11	navigation	navigation	NOUN
faba-177	170	12	across	across	ADP
faba-177	170	13	stakeholders	stakeholder	NOUN
faba-177	170	14	to	to	PART
faba-177	170	15	drive	drive	VERB
faba-177	170	16	financial	financial	ADJ
faba-177	170	17	inclusion	inclusion	NOUN
faba-177	170	18	,	,	PUNCT
faba-177	170	19	guided	guide	VERB
faba-177	170	20	by	by	ADP
faba-177	170	21	judicious	judicious	ADJ
faba-177	170	22	oversight	oversight	NOUN
faba-177	170	23	guarding	guard	VERB
faba-177	170	24	against	against	ADP
faba-177	170	25	undue	undue	ADJ
faba-177	170	26	risks	risk	NOUN
faba-177	170	27	.	.	PUNCT
faba-177	171	1	findings	finding	NOUN
faba-177	171	2	can	can	AUX
faba-177	171	3	inform	inform	VERB
faba-177	171	4	strategic	strategic	ADJ
faba-177	171	5	decisions	decision	NOUN
faba-177	171	6	to	to	PART
faba-177	171	7	prudently	prudently	ADV
faba-177	171	8	localize	localize	VERB
faba-177	171	9	crowdfunding	crowdfunding	NOUN
faba-177	171	10	in	in	ADP
faba-177	171	11	indonesia	indonesia	PROPN
faba-177	171	12	and	and	CCONJ
faba-177	171	13	similar	similar	ADJ
faba-177	171	14	developing	develop	VERB
faba-177	171	15	economies	economy	NOUN
faba-177	171	16	through	through	ADP
faba-177	171	17	a	a	DET
faba-177	171	18	considered	consider	VERB
faba-177	171	19	balance	balance	NOUN
faba-177	171	20	of	of	ADP
faba-177	171	21	measured	measured	ADJ
faba-177	171	22	innovation	innovation	NOUN
faba-177	171	23	alongside	alongside	ADP
faba-177	171	24	responsible	responsible	ADJ
faba-177	171	25	governance	governance	NOUN
faba-177	171	26	,	,	PUNCT
faba-177	171	27	mitigating	mitigate	VERB
faba-177	171	28	asymmetry	asymmetry	NOUN
faba-177	171	29	while	while	SCONJ
faba-177	171	30	expanding	expand	VERB
faba-177	171	31	entrepreneurial	entrepreneurial	ADJ
faba-177	171	32	potential	potential	NOUN
faba-177	171	33	equitably	equitably	ADV
faba-177	171	34	.	.	PUNCT
faba-177	172	1	our	our	PRON
faba-177	172	2	thesis	thesis	NOUN
faba-177	172	3	delves	delve	VERB
faba-177	172	4	deeper	deeply	ADV
faba-177	172	5	into	into	ADP
faba-177	172	6	the	the	DET
faba-177	172	7	multifaceted	multifaceted	ADJ
faba-177	172	8	dynamics	dynamic	NOUN
faba-177	172	9	of	of	ADP
faba-177	172	10	equity	equity	NOUN
faba-177	172	11	crowdfunding	crowdfunding	NOUN
faba-177	172	12	in	in	ADP
faba-177	172	13	indonesia	indonesia	PROPN
faba-177	172	14	.	.	PUNCT
faba-177	173	1	it	it	PRON
faba-177	173	2	posits	posit	VERB
faba-177	173	3	that	that	SCONJ
faba-177	173	4	this	this	DET
faba-177	173	5	emerging	emerge	VERB
faba-177	173	6	trend	trend	NOUN
faba-177	173	7	is	be	AUX
faba-177	173	8	a	a	DET
faba-177	173	9	significant	significant	ADJ
faba-177	173	10	force	force	NOUN
faba-177	173	11	in	in	ADP
faba-177	173	12	reshaping	reshape	VERB
faba-177	173	13	the	the	DET
faba-177	173	14	financial	financial	ADJ
faba-177	173	15	landscape	landscape	NOUN
faba-177	173	16	,	,	PUNCT
faba-177	173	17	with	with	ADP
faba-177	173	18	profound	profound	ADJ
faba-177	173	19	implications	implication	NOUN
faba-177	173	20	for	for	ADP
faba-177	173	21	investment	investment	NOUN
faba-177	173	22	practices	practice	NOUN
faba-177	173	23	,	,	PUNCT
faba-177	173	24	entrepreneurial	entrepreneurial	ADJ
faba-177	173	25	growth	growth	NOUN
faba-177	173	26	,	,	PUNCT
faba-177	173	27	and	and	CCONJ
faba-177	173	28	economic	economic	ADJ
faba-177	173	29	democratization	democratization	NOUN
faba-177	173	30	.	.	PUNCT
faba-177	174	1	this	this	DET
faba-177	174	2	study	study	NOUN
faba-177	174	3	contends	contend	VERB
faba-177	174	4	that	that	SCONJ
faba-177	174	5	platforms	platform	NOUN
faba-177	174	6	like	like	ADP
faba-177	174	7	landx	landx	PROPN
faba-177	174	8	are	be	AUX
faba-177	174	9	not	not	PART
faba-177	174	10	merely	merely	ADV
faba-177	174	11	alternate	alternate	ADJ
faba-177	174	12	investment	investment	NOUN
faba-177	174	13	avenues	avenue	NOUN
faba-177	174	14	but	but	CCONJ
faba-177	174	15	catalysts	catalyst	NOUN
faba-177	174	16	for	for	ADP
faba-177	174	17	a	a	DET
faba-177	174	18	broader	broad	ADJ
faba-177	174	19	economic	economic	ADJ
faba-177	174	20	transformation	transformation	NOUN
faba-177	174	21	.	.	PUNCT
faba-177	175	1	they	they	PRON
faba-177	175	2	are	be	AUX
faba-177	175	3	instrumental	instrumental	ADJ
faba-177	175	4	in	in	ADP
faba-177	175	5	forging	forge	VERB
faba-177	175	6	new	new	ADJ
faba-177	175	7	pathways	pathway	NOUN
faba-177	175	8	for	for	ADP
faba-177	175	9	capital	capital	NOUN
faba-177	175	10	flow	flow	NOUN
faba-177	175	11	,	,	PUNCT
faba-177	175	12	democratizing	democratize	VERB
faba-177	175	13	access	access	NOUN
faba-177	175	14	to	to	ADP
faba-177	175	15	funding	funding	NOUN
faba-177	175	16	,	,	PUNCT
faba-177	175	17	and	and	CCONJ
faba-177	175	18	prompting	prompt	VERB
faba-177	175	19	regulatory	regulatory	ADJ
faba-177	175	20	bodies	body	NOUN
faba-177	175	21	to	to	PART
faba-177	175	22	evolve	evolve	VERB
faba-177	175	23	in	in	ADP
faba-177	175	24	response	response	NOUN
faba-177	175	25	to	to	ADP
faba-177	175	26	these	these	DET
faba-177	175	27	new	new	ADJ
faba-177	175	28	financial	financial	ADJ
faba-177	175	29	paradigms	paradigm	NOUN
faba-177	175	30	.	.	PUNCT
faba-177	176	1	additionally	additionally	ADV
faba-177	176	2	,	,	PUNCT
faba-177	176	3	our	our	PRON
faba-177	176	4	thesis	thesis	NOUN
faba-177	176	5	explores	explore	VERB
faba-177	176	6	how	how	SCONJ
faba-177	176	7	these	these	DET
faba-177	176	8	platforms	platform	NOUN
faba-177	176	9	influence	influence	VERB
faba-177	176	10	investor	investor	NOUN
faba-177	176	11	behavior	behavior	NOUN
faba-177	176	12	,	,	PUNCT
faba-177	176	13	risk	risk	NOUN
faba-177	176	14	assessment	assessment	NOUN
faba-177	176	15	models	model	NOUN
faba-177	176	16	,	,	PUNCT
faba-177	176	17	and	and	CCONJ
faba-177	176	18	the	the	DET
faba-177	176	19	broader	broad	ADJ
faba-177	176	20	socio	socio	NOUN
faba-177	176	21	-	-	PUNCT
faba-177	176	22	economic	economic	ADJ
faba-177	176	23	fabric	fabric	NOUN
faba-177	176	24	of	of	ADP
faba-177	176	25	indonesia	indonesia	PROPN
faba-177	176	26	.	.	PUNCT
faba-177	177	1	by	by	ADP
faba-177	177	2	examining	examine	VERB
faba-177	177	3	these	these	DET
faba-177	177	4	aspects	aspect	NOUN
faba-177	177	5	,	,	PUNCT
faba-177	177	6	the	the	DET
faba-177	177	7	research	research	NOUN
faba-177	177	8	aims	aim	VERB
faba-177	177	9	to	to	PART
faba-177	177	10	provide	provide	VERB
faba-177	177	11	a	a	DET
faba-177	177	12	holistic	holistic	ADJ
faba-177	177	13	view	view	NOUN
faba-177	177	14	of	of	ADP
faba-177	177	15	the	the	DET
faba-177	177	16	impact	impact	NOUN
faba-177	177	17	and	and	CCONJ
faba-177	177	18	potential	potential	NOUN
faba-177	177	19	of	of	ADP
faba-177	177	20	equity	equity	NOUN
faba-177	177	21	crowdfunding	crowdfunding	NOUN
faba-177	177	22	in	in	ADP
faba-177	177	23	indonesia	indonesia	PROPN
faba-177	177	24	's	's	PART
faba-177	177	25	evolving	evolve	VERB
faba-177	177	26	economic	economic	ADJ
faba-177	177	27	scenario	scenario	NOUN
faba-177	177	28	results	result	NOUN
faba-177	177	29	and	and	CCONJ
faba-177	177	30	discussion	discussion	NOUN
faba-177	177	31	this	this	DET
faba-177	177	32	study	study	NOUN
faba-177	177	33	generated	generate	VERB
faba-177	177	34	several	several	ADJ
faba-177	177	35	key	key	ADJ
faba-177	177	36	findings	finding	NOUN
faba-177	177	37	that	that	PRON
faba-177	177	38	provide	provide	VERB
faba-177	177	39	insights	insight	NOUN
faba-177	177	40	into	into	ADP
faba-177	177	41	the	the	DET
faba-177	177	42	operational	operational	ADJ
faba-177	177	43	processes	process	NOUN
faba-177	177	44	,	,	PUNCT
faba-177	177	45	motivations	motivation	NOUN
faba-177	177	46	,	,	PUNCT
faba-177	177	47	oversight	oversight	NOUN
faba-177	177	48	,	,	PUNCT
faba-177	177	49	and	and	CCONJ
faba-177	177	50	outcomes	outcome	NOUN
faba-177	177	51	associated	associate	VERB
faba-177	177	52	with	with	ADP
faba-177	177	53	equity	equity	NOUN
faba-177	177	54	crowdfunding	crowdfunding	NOUN
faba-177	177	55	on	on	ADP
faba-177	177	56	the	the	DET
faba-177	177	57	landx	landx	ADJ
faba-177	177	58	platform	platform	NOUN
faba-177	177	59	in	in	ADP
faba-177	177	60	indonesia	indonesia	PROPN
faba-177	177	61	.	.	PUNCT
faba-177	178	1	analysis	analysis	NOUN
faba-177	178	2	of	of	ADP
faba-177	178	3	interviews	interview	NOUN
faba-177	178	4	with	with	ADP
faba-177	178	5	company	company	NOUN
faba-177	178	6	executives	executive	NOUN
faba-177	178	7	and	and	CCONJ
faba-177	178	8	internal	internal	ADJ
faba-177	178	9	documents	document	NOUN
faba-177	178	10	reveals	reveal	VERB
faba-177	178	11	a	a	DET
faba-177	178	12	nuanced	nuanced	ADJ
faba-177	178	13	assessment	assessment	NOUN
faba-177	178	14	of	of	ADP
faba-177	178	15	the	the	DET
faba-177	178	16	opportunities	opportunity	NOUN
faba-177	178	17	,	,	PUNCT
faba-177	178	18	strengths	strength	NOUN
faba-177	178	19	,	,	PUNCT
faba-177	178	20	and	and	CCONJ
faba-177	178	21	areas	area	NOUN
faba-177	178	22	needing	need	VERB
faba-177	178	23	further	further	ADJ
faba-177	178	24	development	development	NOUN
faba-177	178	25	as	as	ADP
faba-177	178	26	this	this	DET
faba-177	178	27	alternative	alternative	ADJ
faba-177	178	28	financing	financing	NOUN
faba-177	178	29	model	model	NOUN
faba-177	178	30	evolves	evolve	VERB
faba-177	178	31	.	.	PUNCT
faba-177	179	1	due	due	ADJ
faba-177	179	2	diligence	diligence	NOUN
faba-177	179	3	process	process	NOUN
faba-177	179	4	regarding	regard	VERB
faba-177	179	5	the	the	DET
faba-177	179	6	due	due	ADJ
faba-177	179	7	diligence	diligence	NOUN
faba-177	179	8	process	process	NOUN
faba-177	179	9	used	use	VERB
faba-177	179	10	by	by	ADP
faba-177	179	11	landx	landx	NOUN
faba-177	179	12	to	to	PART
faba-177	179	13	vet	vet	VERB
faba-177	179	14	and	and	CCONJ
faba-177	179	15	select	select	VERB
faba-177	179	16	entrepreneurs	entrepreneur	NOUN
faba-177	179	17	/	/	SYM
faba-177	179	18	projects	project	NOUN
faba-177	179	19	to	to	PART
faba-177	179	20	list	list	VERB
faba-177	179	21	on	on	ADP
faba-177	179	22	the	the	DET
faba-177	179	23	platform	platform	NOUN
faba-177	179	24	,	,	PUNCT
faba-177	179	25	findings	finding	NOUN
faba-177	179	26	demonstrate	demonstrate	VERB
faba-177	179	27	a	a	DET
faba-177	179	28	robust	robust	ADJ
faba-177	179	29	,	,	PUNCT
faba-177	179	30	multilayered	multilayered	ADJ
faba-177	179	31	approach	approach	NOUN
faba-177	179	32	encompassing	encompass	VERB
faba-177	179	33	both	both	DET
faba-177	179	34	extensive	extensive	ADJ
faba-177	179	35	objective	objective	ADJ
faba-177	179	36	analysis	analysis	NOUN
faba-177	179	37	of	of	ADP
faba-177	179	38	quantitative	quantitative	ADJ
faba-177	179	39	metrics	metric	NOUN
faba-177	179	40	and	and	CCONJ
faba-177	179	41	subjective	subjective	ADJ
faba-177	179	42	evaluation	evaluation	NOUN
faba-177	179	43	of	of	ADP
faba-177	179	44	qualitative	qualitative	ADJ
faba-177	179	45	factors	factor	NOUN
faba-177	179	46	.	.	PUNCT
faba-177	180	1	sanjaya	sanjaya	PROPN
faba-177	180	2	and	and	CCONJ
faba-177	180	3	koesrindartoto	koesrindartoto	PROPN
faba-177	180	4	/	/	SYM
faba-177	180	5	finance	finance	NOUN
faba-177	180	6	,	,	PUNCT
faba-177	180	7	accounting	accounting	NOUN
faba-177	180	8	and	and	CCONJ
faba-177	180	9	business	business	NOUN
faba-177	180	10	analysis	analysis	NOUN
faba-177	180	11	,	,	PUNCT
faba-177	180	12	volume	volume	NOUN
faba-177	180	13	5	5	NUM
faba-177	180	14	,	,	PUNCT
faba-177	180	15	issue	issue	NOUN
faba-177	180	16	2	2	NUM
faba-177	180	17	,	,	PUNCT
faba-177	180	18	2023	2023	NUM
faba-177	180	19	179	179	NUM
faba-177	180	20	table	table	NOUN
faba-177	180	21	1	1	NUM
faba-177	180	22	.	.	PUNCT
faba-177	180	23	landx	landx	PROPN
faba-177	180	24	issuer	issuer	PROPN
faba-177	180	25	due	due	ADJ
faba-177	180	26	diligence	diligence	NOUN
faba-177	180	27	criteria	criterion	NOUN
faba-177	180	28	category	category	NOUN
faba-177	180	29	criteria	criteria	VERB
faba-177	180	30	financial	financial	ADJ
faba-177	180	31	viability	viability	NOUN
faba-177	180	32	roi	roi	NOUN
faba-177	180	33	net	net	ADJ
faba-177	180	34	profit	profit	NOUN
faba-177	180	35	margin	margin	NOUN
faba-177	180	36	capital	capital	NOUN
faba-177	180	37	expense	expense	NOUN
faba-177	180	38	operational	operational	ADJ
faba-177	180	39	expense	expense	NOUN
faba-177	180	40	founder	founder	NOUN
faba-177	180	41	/	/	SYM
faba-177	180	42	team	team	NOUN
faba-177	180	43	industry	industry	NOUN
faba-177	180	44	experience	experience	NOUN
faba-177	180	45	reputation	reputation	NOUN
faba-177	180	46	product	product	NOUN
faba-177	180	47	/	/	SYM
faba-177	180	48	service	service	NOUN
faba-177	180	49	brand	brand	NOUN
faba-177	180	50	awareness	awareness	NOUN
faba-177	180	51	product	product	NOUN
faba-177	180	52	life	life	NOUN
faba-177	180	53	cycle	cycle	NOUN
faba-177	180	54	customer	customer	NOUN
faba-177	180	55	service	service	NOUN
faba-177	180	56	company	company	NOUN
faba-177	180	57	maturity	maturity	NOUN
faba-177	180	58	stage	stage	NOUN
faba-177	180	59	management	management	NOUN
faba-177	180	60	system	system	NOUN
faba-177	180	61	number	number	NOUN
faba-177	180	62	of	of	ADP
faba-177	180	63	branch	branch	NOUN
faba-177	180	64	/	/	SYM
faba-177	180	65	outlet	outlet	NOUN
faba-177	180	66	source	source	NOUN
faba-177	180	67	:	:	PUNCT
faba-177	180	68	landx	landx	ADJ
faba-177	180	69	document	document	NOUN
faba-177	180	70	the	the	DET
faba-177	180	71	landx	landx	ADJ
faba-177	180	72	evaluation	evaluation	NOUN
faba-177	180	73	system	system	NOUN
faba-177	180	74	utilizes	utilize	VERB
faba-177	180	75	a	a	DET
faba-177	180	76	weighted	weight	VERB
faba-177	180	77	scorecard	scorecard	NOUN
faba-177	180	78	approach	approach	NOUN
faba-177	180	79	with	with	ADP
faba-177	180	80	established	establish	VERB
faba-177	180	81	criteria	criterion	NOUN
faba-177	180	82	under	under	ADP
faba-177	180	83	major	major	ADJ
faba-177	180	84	categories	category	NOUN
faba-177	180	85	like	like	ADP
faba-177	180	86	financial	financial	ADJ
faba-177	180	87	performance	performance	NOUN
faba-177	180	88	,	,	PUNCT
faba-177	180	89	founder	founder	NOUN
faba-177	180	90	experience	experience	NOUN
faba-177	180	91	,	,	PUNCT
faba-177	180	92	brand	brand	NOUN
faba-177	180	93	equity	equity	NOUN
faba-177	180	94	and	and	CCONJ
faba-177	180	95	company	company	NOUN
faba-177	180	96	stage	stage	NOUN
faba-177	180	97	.	.	PUNCT
faba-177	181	1	as	as	SCONJ
faba-177	181	2	seen	see	VERB
faba-177	181	3	above	above	ADV
faba-177	181	4	,	,	PUNCT
faba-177	181	5	measurable	measurable	ADJ
faba-177	181	6	thresholds	threshold	NOUN
faba-177	181	7	determine	determine	VERB
faba-177	181	8	passing	passing	NOUN
faba-177	181	9	,	,	PUNCT
faba-177	181	10	failure	failure	NOUN
faba-177	181	11	or	or	CCONJ
faba-177	181	12	further	further	ADJ
faba-177	181	13	review	review	NOUN
faba-177	181	14	across	across	ADP
faba-177	181	15	metrics	metric	NOUN
faba-177	181	16	like	like	ADP
faba-177	181	17	roi	roi	NOUN
faba-177	181	18	,	,	PUNCT
faba-177	181	19	profitability	profitability	NOUN
faba-177	181	20	,	,	PUNCT
faba-177	181	21	valuation	valuation	NOUN
faba-177	181	22	multiples	multiple	NOUN
faba-177	181	23	,	,	PUNCT
faba-177	181	24	management	management	NOUN
faba-177	181	25	tenure	tenure	NOUN
faba-177	181	26	,	,	PUNCT
faba-177	181	27	brand	brand	NOUN
faba-177	181	28	awareness	awareness	NOUN
faba-177	181	29	and	and	CCONJ
faba-177	181	30	maturity	maturity	NOUN
faba-177	181	31	.	.	PUNCT
faba-177	182	1	structured	structure	VERB
faba-177	182	2	scoring	scoring	NOUN
faba-177	182	3	enables	enable	VERB
faba-177	182	4	standardized	standardized	ADJ
faba-177	182	5	insights	insight	NOUN
faba-177	182	6	into	into	ADP
faba-177	182	7	issuer	issuer	ADJ
faba-177	182	8	quality	quality	NOUN
faba-177	182	9	.	.	PUNCT
faba-177	183	1	threshold	threshold	NOUN
faba-177	183	2	passing	pass	VERB
faba-177	183	3	scores	score	NOUN
faba-177	183	4	determine	determine	VERB
faba-177	183	5	listing	list	VERB
faba-177	183	6	eligibility	eligibility	NOUN
faba-177	183	7	.	.	PUNCT
faba-177	184	1	however	however	ADV
faba-177	184	2	predictive	predictive	ADJ
faba-177	184	3	effectiveness	effectiveness	NOUN
faba-177	184	4	warrants	warrant	NOUN
faba-177	184	5	ongoing	ongoing	ADJ
faba-177	184	6	refinement	refinement	NOUN
faba-177	184	7	based	base	VERB
faba-177	184	8	on	on	ADP
faba-177	184	9	back	back	NOUN
faba-177	184	10	-	-	PUNCT
faba-177	184	11	testing	testing	NOUN
faba-177	184	12	against	against	ADP
faba-177	184	13	eventual	eventual	ADJ
faba-177	184	14	performance	performance	NOUN
faba-177	184	15	.	.	PUNCT
faba-177	185	1	balancing	balance	VERB
faba-177	185	2	quantifiable	quantifiable	ADJ
faba-177	185	3	indicators	indicator	NOUN
faba-177	185	4	with	with	ADP
faba-177	185	5	nuanced	nuanced	ADJ
faba-177	185	6	qualitative	qualitative	ADJ
faba-177	185	7	inputs	input	NOUN
faba-177	185	8	remains	remain	VERB
faba-177	185	9	prudent	prudent	ADJ
faba-177	185	10	.	.	PUNCT
faba-177	186	1	as	as	SCONJ
faba-177	186	2	described	describe	VERB
faba-177	186	3	by	by	ADP
faba-177	186	4	the	the	DET
faba-177	186	5	head	head	NOUN
faba-177	186	6	of	of	ADP
faba-177	186	7	listings	listing	NOUN
faba-177	186	8	,	,	PUNCT
faba-177	186	9	landx	landx	ADJ
faba-177	186	10	first	first	ADJ
faba-177	186	11	screens	screen	NOUN
faba-177	186	12	potential	potential	ADJ
faba-177	186	13	issuers	issuer	NOUN
faba-177	186	14	based	base	VERB
faba-177	186	15	on	on	ADP
faba-177	186	16	past	past	ADJ
faba-177	186	17	financial	financial	ADJ
faba-177	186	18	statements	statement	NOUN
faba-177	186	19	,	,	PUNCT
faba-177	186	20	growth	growth	NOUN
faba-177	186	21	indicators	indicator	NOUN
faba-177	186	22	like	like	ADP
faba-177	186	23	number	number	NOUN
faba-177	186	24	of	of	ADP
faba-177	186	25	outlets	outlet	NOUN
faba-177	186	26	,	,	PUNCT
faba-177	186	27	and	and	CCONJ
faba-177	186	28	background	background	NOUN
faba-177	186	29	checks	check	NOUN
faba-177	186	30	on	on	ADP
faba-177	186	31	creditworthiness	creditworthiness	PROPN
faba-177	186	32	.	.	PUNCT
faba-177	187	1	companies	company	NOUN
faba-177	187	2	must	must	AUX
faba-177	187	3	demonstrate	demonstrate	VERB
faba-177	187	4	a	a	DET
faba-177	187	5	profitable	profitable	ADJ
faba-177	187	6	,	,	PUNCT
faba-177	187	7	scalable	scalable	ADJ
faba-177	187	8	business	business	NOUN
faba-177	187	9	model	model	NOUN
faba-177	187	10	historically	historically	ADV
faba-177	187	11	to	to	PART
faba-177	187	12	pass	pass	VERB
faba-177	187	13	initial	initial	ADJ
faba-177	187	14	assessment	assessment	NOUN
faba-177	187	15	.	.	PUNCT
faba-177	188	1	next	next	ADJ
faba-177	188	2	,	,	PUNCT
faba-177	188	3	more	more	ADJ
faba-177	188	4	in	in	ADP
faba-177	188	5	-	-	PUNCT
faba-177	188	6	depth	depth	NOUN
faba-177	188	7	due	due	ADJ
faba-177	188	8	diligence	diligence	NOUN
faba-177	188	9	examines	examine	VERB
faba-177	188	10	subjective	subjective	ADJ
faba-177	188	11	factors	factor	NOUN
faba-177	188	12	like	like	ADP
faba-177	188	13	strength	strength	NOUN
faba-177	188	14	of	of	ADP
faba-177	188	15	management	management	NOUN
faba-177	188	16	team	team	NOUN
faba-177	188	17	,	,	PUNCT
faba-177	188	18	integrity	integrity	NOUN
faba-177	188	19	of	of	ADP
faba-177	188	20	founders	founder	NOUN
faba-177	188	21	,	,	PUNCT
faba-177	188	22	sustainability	sustainability	NOUN
faba-177	188	23	of	of	ADP
faba-177	188	24	business	business	NOUN
faba-177	188	25	model	model	NOUN
faba-177	188	26	,	,	PUNCT
faba-177	188	27	and	and	CCONJ
faba-177	188	28	risks	risk	NOUN
faba-177	188	29	.	.	PUNCT
faba-177	189	1	as	as	SCONJ
faba-177	189	2	the	the	DET
faba-177	189	3	ceo	ceo	NOUN
faba-177	189	4	explained	explain	VERB
faba-177	189	5	,	,	PUNCT
faba-177	189	6	companies	company	NOUN
faba-177	189	7	with	with	ADP
faba-177	189	8	strong	strong	ADJ
faba-177	189	9	financials	financial	NOUN
faba-177	189	10	but	but	CCONJ
faba-177	189	11	concerns	concern	NOUN
faba-177	189	12	around	around	ADP
faba-177	189	13	founder	founder	NOUN
faba-177	189	14	ethics	ethic	NOUN
faba-177	189	15	or	or	CCONJ
faba-177	189	16	investor	investor	NOUN
faba-177	189	17	commitment	commitment	NOUN
faba-177	189	18	would	would	AUX
faba-177	189	19	be	be	AUX
faba-177	189	20	rejected	reject	VERB
faba-177	189	21	at	at	ADP
faba-177	189	22	this	this	DET
faba-177	189	23	stage	stage	NOUN
faba-177	189	24	.	.	PUNCT
faba-177	190	1	vetting	vetting	NOUN
faba-177	190	2	focuses	focus	VERB
faba-177	190	3	on	on	ADP
faba-177	190	4	alignment	alignment	NOUN
faba-177	190	5	with	with	ADP
faba-177	190	6	investor	investor	NOUN
faba-177	190	7	interests	interest	NOUN
faba-177	190	8	.	.	PUNCT
faba-177	191	1	analysis	analysis	NOUN
faba-177	191	2	of	of	ADP
faba-177	191	3	the	the	DET
faba-177	191	4	weighted	weight	VERB
faba-177	191	5	scoring	scoring	NOUN
faba-177	191	6	system	system	NOUN
faba-177	191	7	used	use	VERB
faba-177	191	8	by	by	ADP
faba-177	191	9	landx	landx	NOUN
faba-177	191	10	to	to	PART
faba-177	191	11	evaluate	evaluate	VERB
faba-177	191	12	potential	potential	ADJ
faba-177	191	13	issuers	issuer	NOUN
faba-177	191	14	confirms	confirm	VERB
faba-177	191	15	a	a	DET
faba-177	191	16	rigorous	rigorous	ADJ
faba-177	191	17	,	,	PUNCT
faba-177	191	18	structured	structure	VERB
faba-177	191	19	due	due	ADJ
faba-177	191	20	diligence	diligence	NOUN
faba-177	191	21	process	process	NOUN
faba-177	191	22	covering	cover	VERB
faba-177	191	23	both	both	CCONJ
faba-177	191	24	financial	financial	ADJ
faba-177	191	25	viability	viability	NOUN
faba-177	191	26	and	and	CCONJ
faba-177	191	27	qualitative	qualitative	ADJ
faba-177	191	28	attributes	attribute	NOUN
faba-177	191	29	.	.	PUNCT
faba-177	192	1	specific	specific	ADJ
faba-177	192	2	metrics	metric	NOUN
faba-177	192	3	are	be	AUX
faba-177	192	4	defined	define	VERB
faba-177	192	5	and	and	CCONJ
faba-177	192	6	weighted	weight	VERB
faba-177	192	7	under	under	ADP
faba-177	192	8	categories	category	NOUN
faba-177	192	9	like	like	ADP
faba-177	192	10	financial	financial	ADJ
faba-177	192	11	track	track	NOUN
faba-177	192	12	record	record	NOUN
faba-177	192	13	,	,	PUNCT
faba-177	192	14	management	management	NOUN
faba-177	192	15	,	,	PUNCT
faba-177	192	16	product	product	NOUN
faba-177	192	17	traction	traction	NOUN
faba-177	192	18	,	,	PUNCT
faba-177	192	19	growth	growth	NOUN
faba-177	192	20	outlook	outlook	NOUN
faba-177	192	21	,	,	PUNCT
faba-177	192	22	founder	founder	NOUN
faba-177	192	23	expertise	expertise	NOUN
faba-177	192	24	,	,	PUNCT
faba-177	192	25	and	and	CCONJ
faba-177	192	26	brand	brand	NOUN
faba-177	192	27	equity	equity	NOUN
faba-177	192	28	.	.	PUNCT
faba-177	193	1	threshold	threshold	NOUN
faba-177	193	2	passing	pass	VERB
faba-177	193	3	scores	score	NOUN
faba-177	193	4	determine	determine	VERB
faba-177	193	5	listing	list	VERB
faba-177	193	6	eligibility	eligibility	NOUN
faba-177	193	7	.	.	PUNCT
faba-177	194	1	the	the	DET
faba-177	194	2	emphasis	emphasis	NOUN
faba-177	194	3	on	on	ADP
faba-177	194	4	profitability	profitability	NOUN
faba-177	194	5	,	,	PUNCT
faba-177	194	6	margins	margin	NOUN
faba-177	194	7	,	,	PUNCT
faba-177	194	8	return	return	VERB
faba-177	194	9	metrics	metric	NOUN
faba-177	194	10	and	and	CCONJ
faba-177	194	11	growth	growth	NOUN
faba-177	194	12	mirrors	mirror	NOUN
faba-177	194	13	academic	academic	ADJ
faba-177	194	14	guidance	guidance	NOUN
faba-177	194	15	on	on	ADP
faba-177	194	16	financial	financial	ADJ
faba-177	194	17	viability	viability	NOUN
faba-177	194	18	screening	screen	VERB
faba-177	194	19	(	(	PUNCT
faba-177	194	20	cumming	cumming	NOUN
faba-177	194	21	and	and	CCONJ
faba-177	194	22	zhang	zhang	PROPN
faba-177	194	23	2019	2019	NUM
faba-177	194	24	)	)	PUNCT
faba-177	194	25	.	.	PUNCT
faba-177	195	1	the	the	DET
faba-177	195	2	founder	founder	NOUN
faba-177	195	3	background	background	NOUN
faba-177	195	4	checks	check	NOUN
faba-177	195	5	and	and	CCONJ
faba-177	195	6	weighting	weight	VERB
faba-177	195	7	on	on	ADP
faba-177	195	8	expertise	expertise	NOUN
faba-177	195	9	align	align	VERB
faba-177	195	10	with	with	ADP
faba-177	195	11	signaling	signal	VERB
faba-177	195	12	theory	theory	NOUN
faba-177	195	13	where	where	SCONJ
faba-177	195	14	quality	quality	NOUN
faba-177	195	15	teams	team	NOUN
faba-177	195	16	signal	signal	VERB
faba-177	195	17	prospects	prospect	NOUN
faba-177	195	18	(	(	PUNCT
faba-177	195	19	courtney	courtney	PROPN
faba-177	195	20	et	et	PROPN
faba-177	195	21	al	al	PROPN
faba-177	195	22	.	.	PROPN
faba-177	195	23	2017	2017	NUM
faba-177	195	24	)	)	PUNCT
faba-177	195	25	.	.	PUNCT
faba-177	196	1	the	the	DET
faba-177	196	2	layered	layered	ADJ
faba-177	196	3	evaluation	evaluation	NOUN
faba-177	196	4	combining	combine	VERB
faba-177	196	5	financial	financial	ADJ
faba-177	196	6	ratios	ratio	NOUN
faba-177	196	7	and	and	CCONJ
faba-177	196	8	subjective	subjective	ADJ
faba-177	196	9	assessment	assessment	NOUN
faba-177	196	10	follows	follow	VERB
faba-177	196	11	a	a	DET
faba-177	196	12	balanced	balanced	ADJ
faba-177	196	13	"	"	PUNCT
faba-177	196	14	hybrid	hybrid	ADJ
faba-177	196	15	due	due	ADJ
faba-177	196	16	diligence	diligence	NOUN
faba-177	196	17	"	"	PUNCT
faba-177	196	18	approach	approach	NOUN
faba-177	196	19	suggested	suggest	VERB
faba-177	196	20	by	by	ADP
faba-177	196	21	research	research	NOUN
faba-177	196	22	(	(	PUNCT
faba-177	196	23	wilson	wilson	PROPN
faba-177	196	24	and	and	CCONJ
faba-177	196	25	testoni	testoni	NOUN
faba-177	196	26	2014	2014	NUM
faba-177	196	27	)	)	PUNCT
faba-177	196	28	.	.	PUNCT
faba-177	197	1	however	however	ADV
faba-177	197	2	,	,	PUNCT
faba-177	197	3	limitations	limitation	NOUN
faba-177	197	4	exist	exist	VERB
faba-177	197	5	regarding	regard	VERB
faba-177	197	6	use	use	NOUN
faba-177	197	7	of	of	ADP
faba-177	197	8	forward	forward	ADV
faba-177	197	9	-	-	PUNCT
faba-177	197	10	looking	look	VERB
faba-177	197	11	projections	projection	NOUN
faba-177	197	12	versus	versus	ADP
faba-177	197	13	retrospective	retrospective	ADJ
faba-177	197	14	data	datum	NOUN
faba-177	197	15	(	(	PUNCT
faba-177	197	16	lewis	lewis	PROPN
faba-177	197	17	2016	2016	NUM
faba-177	197	18	)	)	PUNCT
faba-177	197	19	,	,	PUNCT
faba-177	197	20	lack	lack	NOUN
faba-177	197	21	of	of	ADP
faba-177	197	22	market	market	NOUN
faba-177	197	23	risk	risk	NOUN
faba-177	197	24	analysis	analysis	NOUN
faba-177	197	25	(	(	PUNCT
faba-177	197	26	davis	davis	PROPN
faba-177	197	27	et	et	PROPN
faba-177	197	28	al	al	PROPN
faba-177	197	29	.	.	PROPN
faba-177	197	30	2017	2017	NUM
faba-177	197	31	)	)	PUNCT
faba-177	197	32	,	,	PUNCT
faba-177	197	33	and	and	CCONJ
faba-177	197	34	inability	inability	NOUN
faba-177	197	35	to	to	PART
faba-177	197	36	customize	customize	VERB
faba-177	197	37	criteria	criterion	NOUN
faba-177	197	38	by	by	ADP
faba-177	197	39	vertical	vertical	ADJ
faba-177	197	40	or	or	CCONJ
faba-177	197	41	offering	offering	NOUN
faba-177	197	42	type	type	NOUN
faba-177	197	43	(	(	PUNCT
faba-177	197	44	smith	smith	NOUN
faba-177	197	45	2021	2021	NUM
faba-177	197	46	)	)	PUNCT
faba-177	197	47	.	.	PUNCT
faba-177	198	1	formal	formal	ADJ
faba-177	198	2	validation	validation	NOUN
faba-177	198	3	of	of	ADP
faba-177	198	4	criteria	criterion	NOUN
faba-177	198	5	against	against	ADP
faba-177	198	6	outcomes	outcome	NOUN
faba-177	198	7	remains	remain	VERB
faba-177	198	8	difficult	difficult	ADJ
faba-177	198	9	due	due	ADP
faba-177	198	10	to	to	ADP
faba-177	198	11	the	the	DET
faba-177	198	12	nascence	nascence	NOUN
faba-177	198	13	of	of	ADP
faba-177	198	14	equity	equity	NOUN
faba-177	198	15	crowdfunding	crowdfunding	NOUN
faba-177	198	16	in	in	ADP
faba-177	198	17	indonesia	indonesia	PROPN
faba-177	198	18	.	.	PUNCT
faba-177	199	1	some	some	DET
faba-177	199	2	potential	potential	ADJ
faba-177	199	3	areas	area	NOUN
faba-177	199	4	for	for	ADP
faba-177	199	5	improvement	improvement	NOUN
faba-177	199	6	could	could	AUX
faba-177	199	7	be	be	AUX
faba-177	199	8	increasing	increase	VERB
faba-177	199	9	the	the	DET
faba-177	199	10	weight	weight	NOUN
faba-177	199	11	of	of	ADP
faba-177	199	12	financial	financial	ADJ
faba-177	199	13	performance	performance	NOUN
faba-177	199	14	,	,	PUNCT
faba-177	199	15	since	since	SCONJ
faba-177	199	16	research	research	NOUN
faba-177	199	17	shows	show	VERB
faba-177	199	18	it	it	PRON
faba-177	199	19	has	have	VERB
faba-177	199	20	high	high	ADJ
faba-177	199	21	explanatory	explanatory	ADJ
faba-177	199	22	power	power	NOUN
faba-177	199	23	(	(	PUNCT
faba-177	199	24	baum	baum	NOUN
faba-177	199	25	and	and	CCONJ
faba-177	199	26	silverman	silverman	NOUN
faba-177	199	27	2004	2004	NUM
faba-177	199	28	)	)	PUNCT
faba-177	199	29	.	.	PUNCT
faba-177	200	1	the	the	DET
faba-177	200	2	process	process	NOUN
faba-177	200	3	could	could	AUX
faba-177	200	4	also	also	ADV
faba-177	200	5	benefit	benefit	VERB
faba-177	200	6	from	from	ADP
faba-177	200	7	including	include	VERB
faba-177	200	8	forward	forward	ADV
faba-177	200	9	-	-	PUNCT
faba-177	200	10	looking	look	VERB
faba-177	200	11	metrics	metric	NOUN
faba-177	200	12	like	like	ADP
faba-177	200	13	growth	growth	NOUN
faba-177	200	14	forecasts	forecast	NOUN
faba-177	200	15	,	,	PUNCT
faba-177	200	16	not	not	PART
faba-177	200	17	just	just	ADV
faba-177	200	18	historical	historical	ADJ
faba-177	200	19	financials	financial	NOUN
faba-177	200	20	(	(	PUNCT
faba-177	200	21	song	song	NOUN
faba-177	200	22	et	et	PROPN
faba-177	200	23	al	al	PROPN
faba-177	200	24	.	.	PROPN
faba-177	200	25	2008	2008	NUM
faba-177	200	26	)	)	PUNCT
faba-177	200	27	.	.	PUNCT
faba-177	201	1	criteria	criterion	NOUN
faba-177	201	2	could	could	AUX
faba-177	201	3	be	be	AUX
faba-177	201	4	expanded	expand	VERB
faba-177	201	5	to	to	PART
faba-177	201	6	include	include	VERB
faba-177	201	7	market	market	NOUN
faba-177	201	8	potential	potential	NOUN
faba-177	201	9	,	,	PUNCT
faba-177	201	10	competitive	competitive	ADJ
faba-177	201	11	dynamics	dynamic	NOUN
faba-177	201	12	,	,	PUNCT
faba-177	201	13	regulatory	regulatory	ADJ
faba-177	201	14	risks	risk	NOUN
faba-177	201	15	based	base	VERB
faba-177	201	16	on	on	ADP
faba-177	201	17	opportunity	opportunity	NOUN
faba-177	201	18	analysis	analysis	NOUN
faba-177	201	19	principles	principle	NOUN
faba-177	201	20	(	(	PUNCT
faba-177	201	21	short	short	ADJ
faba-177	201	22	et	et	PROPN
faba-177	201	23	al	al	PROPN
faba-177	201	24	.	.	PROPN
faba-177	201	25	2002	2002	NUM
faba-177	201	26	)	)	PUNCT
faba-177	201	27	.	.	PUNCT
faba-177	202	1	community	community	NOUN
faba-177	202	2	input	input	NOUN
faba-177	202	3	from	from	ADP
faba-177	202	4	platform	platform	NOUN
faba-177	202	5	users	user	NOUN
faba-177	202	6	could	could	AUX
faba-177	202	7	improve	improve	VERB
faba-177	202	8	predictive	predictive	ADJ
faba-177	202	9	accuracy	accuracy	NOUN
faba-177	202	10	based	base	VERB
faba-177	202	11	on	on	ADP
faba-177	202	12	the	the	DET
faba-177	202	13	wisdom	wisdom	NOUN
faba-177	202	14	of	of	ADP
faba-177	202	15	crowds	crowd	NOUN
faba-177	202	16	(	(	PUNCT
faba-177	202	17	afuah	afuah	PROPN
faba-177	202	18	and	and	CCONJ
faba-177	202	19	tucci	tucci	PROPN
faba-177	202	20	2012	2012	NUM
faba-177	202	21	)	)	PUNCT
faba-177	202	22	.	.	PUNCT
faba-177	203	1	ongoing	ongoing	ADJ
faba-177	203	2	refinement	refinement	NOUN
faba-177	203	3	through	through	ADP
faba-177	203	4	backtesting	backtesting	NOUN
faba-177	203	5	and	and	CCONJ
faba-177	203	6	validation	validation	NOUN
faba-177	203	7	against	against	ADP
faba-177	203	8	outcomes	outcome	NOUN
faba-177	203	9	could	could	AUX
faba-177	203	10	optimize	optimize	VERB
faba-177	203	11	the	the	DET
faba-177	203	12	model	model	NOUN
faba-177	203	13	.	.	PUNCT
faba-177	204	1	overall	overall	ADV
faba-177	204	2	,	,	PUNCT
faba-177	204	3	the	the	DET
faba-177	204	4	structured	structured	ADJ
faba-177	204	5	scoring	scoring	NOUN
faba-177	204	6	provides	provide	VERB
faba-177	204	7	standardized	standardized	ADJ
faba-177	204	8	insights	insight	NOUN
faba-177	204	9	,	,	PUNCT
faba-177	204	10	but	but	CCONJ
faba-177	204	11	should	should	AUX
faba-177	204	12	be	be	AUX
faba-177	204	13	considered	consider	VERB
faba-177	204	14	alongside	alongside	ADP
faba-177	204	15	other	other	ADJ
faba-177	204	16	factors	factor	NOUN
faba-177	204	17	in	in	ADP
faba-177	204	18	making	make	VERB
faba-177	204	19	investment	investment	NOUN
faba-177	204	20	decisions	decision	NOUN
faba-177	204	21	(	(	PUNCT
faba-177	204	22	mamonov	mamonov	NOUN
faba-177	204	23	et	et	PROPN
faba-177	204	24	al	al	PROPN
faba-177	204	25	.	.	PROPN
faba-177	204	26	2020	2020	NUM
faba-177	204	27	)	)	PUNCT
faba-177	204	28	.	.	PUNCT
faba-177	205	1	the	the	DET
faba-177	205	2	document	document	NOUN
faba-177	205	3	demonstrates	demonstrate	VERB
faba-177	205	4	landx	landx	PROPN
faba-177	205	5	's	's	PART
faba-177	205	6	systematic	systematic	ADJ
faba-177	205	7	approach	approach	NOUN
faba-177	205	8	to	to	ADP
faba-177	205	9	due	due	ADJ
faba-177	205	10	diligence	diligence	NOUN
faba-177	205	11	within	within	ADP
faba-177	205	12	constraints	constraint	NOUN
faba-177	205	13	as	as	ADP
faba-177	205	14	a	a	DET
faba-177	205	15	start	start	NOUN
faba-177	205	16	up	up	ADP
faba-177	205	17	platform	platform	NOUN
faba-177	205	18	.	.	PUNCT
faba-177	206	1	additional	additional	ADJ
faba-177	206	2	strengths	strength	NOUN
faba-177	206	3	are	be	AUX
faba-177	206	4	the	the	DET
faba-177	206	5	balanced	balanced	ADJ
faba-177	206	6	quantitative	quantitative	ADJ
faba-177	206	7	and	and	CCONJ
faba-177	206	8	qualitative	qualitative	ADJ
faba-177	206	9	assessments	assessment	NOUN
faba-177	206	10	(	(	PUNCT
faba-177	206	11	wilson	wilson	NOUN
faba-177	206	12	2022	2022	NUM
faba-177	206	13	)	)	PUNCT
faba-177	206	14	,	,	PUNCT
faba-177	206	15	ability	ability	NOUN
faba-177	206	16	to	to	PART
faba-177	206	17	customize	customize	VERB
faba-177	206	18	criteria	criterion	NOUN
faba-177	206	19	weighting	weighting	NOUN
faba-177	206	20	(	(	PUNCT
faba-177	206	21	taylor	taylor	PROPN
faba-177	206	22	2021	2021	NUM
faba-177	206	23	)	)	PUNCT
faba-177	206	24	,	,	PUNCT
faba-177	206	25	and	and	CCONJ
faba-177	206	26	structured	structured	ADJ
faba-177	206	27	process	process	NOUN
faba-177	206	28	for	for	ADP
faba-177	206	29	analysis	analysis	NOUN
faba-177	206	30	and	and	CCONJ
faba-177	206	31	comparison	comparison	NOUN
faba-177	206	32	(	(	PUNCT
faba-177	206	33	brown	brown	NOUN
faba-177	206	34	2020	2020	NUM
faba-177	206	35	)	)	PUNCT
faba-177	206	36	.	.	PUNCT
faba-177	207	1	improvements	improvement	NOUN
faba-177	207	2	could	could	AUX
faba-177	207	3	sanjaya	sanjaya	VERB
faba-177	207	4	and	and	CCONJ
faba-177	207	5	koesrindartoto	koesrindartoto	PROPN
faba-177	207	6	/	/	SYM
faba-177	207	7	finance	finance	NOUN
faba-177	207	8	,	,	PUNCT
faba-177	207	9	accounting	accounting	NOUN
faba-177	207	10	and	and	CCONJ
faba-177	207	11	business	business	NOUN
faba-177	207	12	analysis	analysis	NOUN
faba-177	207	13	,	,	PUNCT
faba-177	207	14	volume	volume	NOUN
faba-177	207	15	5	5	NUM
faba-177	207	16	,	,	PUNCT
faba-177	207	17	issue	issue	NOUN
faba-177	207	18	2	2	NUM
faba-177	207	19	,	,	PUNCT
faba-177	207	20	2023	2023	NUM
faba-177	207	21	180	180	NUM
faba-177	207	22	include	include	VERB
faba-177	207	23	market	market	NOUN
faba-177	207	24	dynamics	dynamic	NOUN
faba-177	207	25	criteria	criterion	NOUN
faba-177	207	26	(	(	PUNCT
faba-177	207	27	davis	davis	PROPN
faba-177	207	28	2018	2018	NUM
faba-177	207	29	)	)	PUNCT
faba-177	207	30	,	,	PUNCT
faba-177	207	31	staging	staging	NOUN
faba-177	207	32	benchmarks	benchmark	NOUN
faba-177	207	33	(	(	PUNCT
faba-177	207	34	clark	clark	NOUN
faba-177	207	35	2017	2017	NUM
faba-177	207	36	)	)	PUNCT
faba-177	207	37	,	,	PUNCT
faba-177	207	38	forward	forward	ADV
faba-177	207	39	-	-	PUNCT
faba-177	207	40	looking	look	VERB
faba-177	207	41	indicators	indicator	NOUN
faba-177	207	42	(	(	PUNCT
faba-177	207	43	lewis	lewis	PROPN
faba-177	207	44	2016	2016	NUM
faba-177	207	45	)	)	PUNCT
faba-177	207	46	,	,	PUNCT
faba-177	207	47	formal	formal	ADJ
faba-177	207	48	backtesting	backtesting	NOUN
faba-177	207	49	,	,	PUNCT
faba-177	207	50	expanded	expand	VERB
faba-177	207	51	data	datum	NOUN
faba-177	207	52	sources	source	NOUN
faba-177	207	53	,	,	PUNCT
faba-177	207	54	real	real	ADJ
faba-177	207	55	-	-	PUNCT
faba-177	207	56	time	time	NOUN
faba-177	207	57	input	input	NOUN
faba-177	207	58	on	on	ADP
faba-177	207	59	weighting	weighting	NOUN
faba-177	207	60	,	,	PUNCT
faba-177	207	61	vertical	vertical	ADJ
faba-177	207	62	-	-	PUNCT
faba-177	207	63	specific	specific	ADJ
faba-177	207	64	criteria	criterion	NOUN
faba-177	207	65	,	,	PUNCT
faba-177	207	66	automated	automate	VERB
faba-177	207	67	data	data	NOUN
faba-177	207	68	collection	collection	NOUN
faba-177	207	69	,	,	PUNCT
faba-177	207	70	evolving	evolve	VERB
faba-177	207	71	with	with	ADP
faba-177	207	72	latest	late	ADJ
faba-177	207	73	research	research	NOUN
faba-177	207	74	,	,	PUNCT
faba-177	207	75	and	and	CCONJ
faba-177	207	76	emerging	emerge	VERB
faba-177	207	77	best	good	ADJ
faba-177	207	78	practices	practice	NOUN
faba-177	207	79	(	(	PUNCT
faba-177	207	80	anderson	anderson	PROPN
faba-177	207	81	,	,	PUNCT
faba-177	207	82	2023	2023	NUM
faba-177	207	83	)	)	PUNCT
faba-177	207	84	.	.	PUNCT
faba-177	208	1	further	far	ADV
faba-177	208	2	,	,	PUNCT
faba-177	208	3	the	the	DET
faba-177	208	4	low	low	ADJ
faba-177	208	5	final	final	ADJ
faba-177	208	6	listing	listing	NOUN
faba-177	208	7	acceptance	acceptance	NOUN
faba-177	208	8	rate	rate	NOUN
faba-177	208	9	demonstrates	demonstrate	VERB
faba-177	208	10	landx	landx	PROPN
faba-177	208	11	’s	’s	PART
faba-177	208	12	diligent	diligent	ADJ
faba-177	208	13	adverse	adverse	ADJ
faba-177	208	14	selection	selection	NOUN
faba-177	208	15	mitigation	mitigation	NOUN
faba-177	208	16	.	.	PUNCT
faba-177	209	1	however	however	ADV
faba-177	209	2	,	,	PUNCT
faba-177	209	3	rejection	rejection	NOUN
faba-177	209	4	-	-	PUNCT
faba-177	209	5	acceptance	acceptance	NOUN
faba-177	209	6	ratios	ratio	NOUN
faba-177	209	7	remain	remain	VERB
faba-177	209	8	an	an	DET
faba-177	209	9	imperfect	imperfect	ADJ
faba-177	209	10	proxy	proxy	NOUN
faba-177	209	11	for	for	ADP
faba-177	209	12	vetting	vetting	NOUN
faba-177	209	13	effectiveness	effectiveness	NOUN
faba-177	209	14	,	,	PUNCT
faba-177	209	15	compared	compare	VERB
faba-177	209	16	to	to	ADP
faba-177	209	17	post	post	ADJ
faba-177	209	18	-	-	ADJ
faba-177	209	19	listing	list	VERB
faba-177	209	20	performance	performance	NOUN
faba-177	209	21	data	datum	NOUN
faba-177	209	22	.	.	PUNCT
faba-177	210	1	but	but	CCONJ
faba-177	210	2	collecting	collect	VERB
faba-177	210	3	such	such	ADJ
faba-177	210	4	definitive	definitive	ADJ
faba-177	210	5	validation	validation	NOUN
faba-177	210	6	evidence	evidence	NOUN
faba-177	210	7	remains	remain	VERB
faba-177	210	8	challenging	challenge	VERB
faba-177	210	9	during	during	ADP
faba-177	210	10	the	the	DET
faba-177	210	11	pioneering	pioneering	ADJ
faba-177	210	12	stage	stage	NOUN
faba-177	210	13	of	of	ADP
faba-177	210	14	this	this	DET
faba-177	210	15	nascent	nascent	ADJ
faba-177	210	16	industry	industry	NOUN
faba-177	210	17	.	.	PUNCT
faba-177	211	1	for	for	ADP
faba-177	211	2	established	establish	VERB
faba-177	211	3	sectors	sector	NOUN
faba-177	211	4	like	like	ADP
faba-177	211	5	venture	venture	NOUN
faba-177	211	6	capital	capital	NOUN
faba-177	211	7	,	,	PUNCT
faba-177	211	8	success	success	NOUN
faba-177	211	9	prediction	prediction	NOUN
faba-177	211	10	has	have	AUX
faba-177	211	11	relied	rely	VERB
faba-177	211	12	on	on	ADP
faba-177	211	13	back	back	NOUN
faba-177	211	14	-	-	PUNCT
faba-177	211	15	testing	testing	NOUN
faba-177	211	16	due	due	ADJ
faba-177	211	17	diligence	diligence	NOUN
faba-177	211	18	criteria	criterion	NOUN
faba-177	211	19	against	against	ADP
faba-177	211	20	realized	realize	VERB
faba-177	211	21	returns	return	NOUN
faba-177	211	22	over	over	ADP
faba-177	211	23	decades	decade	NOUN
faba-177	211	24	(	(	PUNCT
faba-177	211	25	sudek	sudek	NOUN
faba-177	211	26	2006	2006	NUM
faba-177	211	27	)	)	PUNCT
faba-177	211	28	.	.	PUNCT
faba-177	212	1	equity	equity	NOUN
faba-177	212	2	crowdfunding	crowdfunding	NOUN
faba-177	212	3	lacks	lack	VERB
faba-177	212	4	this	this	DET
faba-177	212	5	historical	historical	ADJ
faba-177	212	6	performance	performance	NOUN
faba-177	212	7	data	datum	NOUN
faba-177	212	8	currently	currently	ADV
faba-177	212	9	.	.	PUNCT
faba-177	213	1	while	while	SCONJ
faba-177	213	2	landx	landx	PROPN
faba-177	213	3	’s	’s	PART
faba-177	213	4	stringent	stringent	ADJ
faba-177	213	5	due	due	ADJ
faba-177	213	6	diligence	diligence	NOUN
faba-177	213	7	represents	represent	VERB
faba-177	213	8	industry	industry	NOUN
faba-177	213	9	best	good	ADJ
faba-177	213	10	practices	practice	NOUN
faba-177	213	11	,	,	PUNCT
faba-177	213	12	uncertainty	uncertainty	NOUN
faba-177	213	13	around	around	ADP
faba-177	213	14	predicting	predict	VERB
faba-177	213	15	eventual	eventual	ADJ
faba-177	213	16	success	success	NOUN
faba-177	213	17	persists	persist	VERB
faba-177	213	18	given	give	VERB
faba-177	213	19	the	the	DET
faba-177	213	20	sector	sector	NOUN
faba-177	213	21	’s	’s	PART
faba-177	213	22	novelty	novelty	NOUN
faba-177	213	23	.	.	PUNCT
faba-177	214	1	as	as	SCONJ
faba-177	214	2	the	the	DET
faba-177	214	3	ecosystem	ecosystem	NOUN
faba-177	214	4	matures	mature	NOUN
faba-177	214	5	,	,	PUNCT
faba-177	214	6	use	use	NOUN
faba-177	214	7	of	of	ADP
faba-177	214	8	quantifiable	quantifiable	ADJ
faba-177	214	9	decision	decision	NOUN
faba-177	214	10	aids	aid	NOUN
faba-177	214	11	and	and	CCONJ
faba-177	214	12	evidence	evidence	NOUN
faba-177	214	13	-	-	PUNCT
faba-177	214	14	based	base	VERB
faba-177	214	15	back	back	NOUN
faba-177	214	16	-	-	PUNCT
faba-177	214	17	testing	testing	NOUN
faba-177	214	18	could	could	AUX
faba-177	214	19	enhance	enhance	VERB
faba-177	214	20	effectiveness	effectiveness	NOUN
faba-177	214	21	.	.	PUNCT
faba-177	215	1	but	but	CCONJ
faba-177	215	2	responsible	responsible	ADJ
faba-177	215	3	self	self	NOUN
faba-177	215	4	-	-	PUNCT
faba-177	215	5	regulation	regulation	NOUN
faba-177	215	6	remains	remain	VERB
faba-177	215	7	imperative	imperative	ADJ
faba-177	215	8	to	to	PART
faba-177	215	9	build	build	VERB
faba-177	215	10	credibility	credibility	NOUN
faba-177	215	11	during	during	ADP
faba-177	215	12	this	this	DET
faba-177	215	13	pioneering	pioneering	ADJ
faba-177	215	14	phase	phase	NOUN
faba-177	215	15	.	.	PUNCT
faba-177	216	1	overall	overall	ADJ
faba-177	216	2	,	,	PUNCT
faba-177	216	3	landx	landx	ADJ
faba-177	216	4	exhibits	exhibit	VERB
faba-177	216	5	strengths	strength	NOUN
faba-177	216	6	in	in	ADP
faba-177	216	7	its	its	PRON
faba-177	216	8	structured	structured	ADJ
faba-177	216	9	process	process	NOUN
faba-177	216	10	,	,	PUNCT
faba-177	216	11	emphasis	emphasis	NOUN
faba-177	216	12	on	on	ADP
faba-177	216	13	financial	financial	ADJ
faba-177	216	14	track	track	NOUN
faba-177	216	15	records	record	NOUN
faba-177	216	16	,	,	PUNCT
faba-177	216	17	founder	founder	NOUN
faba-177	216	18	vetting	vetting	NOUN
faba-177	216	19	,	,	PUNCT
faba-177	216	20	and	and	CCONJ
faba-177	216	21	integration	integration	NOUN
faba-177	216	22	of	of	ADP
faba-177	216	23	subjective	subjective	ADJ
faba-177	216	24	insights	insight	NOUN
faba-177	216	25	(	(	PUNCT
faba-177	216	26	vismara	vismara	NOUN
faba-177	216	27	2018	2018	NUM
faba-177	216	28	)	)	PUNCT
faba-177	216	29	.	.	PUNCT
faba-177	217	1	this	this	DET
faba-177	217	2	diligence	diligence	NOUN
faba-177	217	3	aims	aim	VERB
faba-177	217	4	to	to	PART
faba-177	217	5	mitigate	mitigate	VERB
faba-177	217	6	adverse	adverse	ADJ
faba-177	217	7	selection	selection	NOUN
faba-177	217	8	risks	risk	NOUN
faba-177	217	9	from	from	ADP
faba-177	217	10	low	low	ADJ
faba-177	217	11	quality	quality	NOUN
faba-177	217	12	issuers	issuer	NOUN
faba-177	217	13	,	,	PUNCT
faba-177	217	14	benefitting	benefit	VERB
faba-177	217	15	investors	investor	NOUN
faba-177	217	16	(	(	PUNCT
faba-177	217	17	mamonov	mamonov	NOUN
faba-177	217	18	and	and	CCONJ
faba-177	217	19	malaga	malaga	NOUN
faba-177	217	20	2020	2020	NUM
faba-177	217	21	)	)	PUNCT
faba-177	217	22	.	.	PUNCT
faba-177	218	1	landx	landx	PROPN
faba-177	218	2	also	also	ADV
faba-177	218	3	exceeds	exceed	VERB
faba-177	218	4	minimal	minimal	ADJ
faba-177	218	5	compliance	compliance	NOUN
faba-177	218	6	through	through	ADP
faba-177	218	7	proactive	proactive	ADJ
faba-177	218	8	transparency	transparency	NOUN
faba-177	218	9	on	on	ADP
faba-177	218	10	its	its	PRON
faba-177	218	11	selectivity	selectivity	NOUN
faba-177	218	12	,	,	PUNCT
faba-177	218	13	despite	despite	SCONJ
faba-177	218	14	gaps	gap	NOUN
faba-177	218	15	in	in	ADP
faba-177	218	16	formal	formal	ADJ
faba-177	218	17	regulations	regulation	NOUN
faba-177	218	18	governing	govern	VERB
faba-177	218	19	due	due	ADJ
faba-177	218	20	diligence	diligence	NOUN
faba-177	218	21	requirements	requirement	NOUN
faba-177	218	22	.	.	PUNCT
faba-177	219	1	this	this	DET
faba-177	219	2	self	self	NOUN
faba-177	219	3	-	-	PUNCT
faba-177	219	4	regulation	regulation	NOUN
faba-177	219	5	drives	drive	NOUN
faba-177	219	6	legitimacy	legitimacy	NOUN
faba-177	219	7	amid	amid	ADP
faba-177	219	8	uncertainty	uncertainty	NOUN
faba-177	219	9	.	.	PUNCT
faba-177	220	1	however	however	ADV
faba-177	220	2	,	,	PUNCT
faba-177	220	3	opportunities	opportunity	NOUN
faba-177	220	4	exist	exist	VERB
faba-177	220	5	to	to	PART
faba-177	220	6	enhance	enhance	VERB
faba-177	220	7	predictive	predictive	ADJ
faba-177	220	8	power	power	NOUN
faba-177	220	9	through	through	ADP
faba-177	220	10	forward	forward	ADV
faba-177	220	11	-	-	PUNCT
faba-177	220	12	looking	look	VERB
faba-177	220	13	data	datum	NOUN
faba-177	220	14	,	,	PUNCT
faba-177	220	15	criteria	criterion	NOUN
faba-177	220	16	backtesting	backtesting	NOUN
faba-177	220	17	,	,	PUNCT
faba-177	220	18	machine	machine	NOUN
faba-177	220	19	learning	learning	NOUN
faba-177	220	20	approaches	approach	NOUN
faba-177	220	21	to	to	ADP
faba-177	220	22	weighting	weight	VERB
faba-177	220	23	,	,	PUNCT
faba-177	220	24	and	and	CCONJ
faba-177	220	25	input	input	NOUN
faba-177	220	26	from	from	ADP
faba-177	220	27	experienced	experienced	ADJ
faba-177	220	28	investors	investor	NOUN
faba-177	220	29	and	and	CCONJ
faba-177	220	30	public	public	ADJ
faba-177	220	31	users	user	NOUN
faba-177	220	32	on	on	ADP
faba-177	220	33	criteria	criterion	NOUN
faba-177	220	34	validity	validity	NOUN
faba-177	220	35	(	(	PUNCT
faba-177	220	36	mochkabadi	mochkabadi	NOUN
faba-177	220	37	and	and	CCONJ
faba-177	220	38	volkmann	volkmann	PROPN
faba-177	220	39	2020	2020	NUM
faba-177	220	40	)	)	PUNCT
faba-177	220	41	.	.	PUNCT
faba-177	221	1	responsible	responsible	ADJ
faba-177	221	2	innovation	innovation	NOUN
faba-177	221	3	and	and	CCONJ
faba-177	221	4	evidence	evidence	NOUN
faba-177	221	5	-	-	PUNCT
faba-177	221	6	based	base	VERB
faba-177	221	7	refinement	refinement	NOUN
faba-177	221	8	balanced	balance	VERB
faba-177	221	9	with	with	ADP
faba-177	221	10	expectations	expectation	NOUN
faba-177	221	11	calibrated	calibrate	VERB
faba-177	221	12	to	to	ADP
faba-177	221	13	inherent	inherent	ADJ
faba-177	221	14	unpredictability	unpredictability	NOUN
faba-177	221	15	of	of	ADP
faba-177	221	16	early	early	ADJ
faba-177	221	17	stage	stage	NOUN
faba-177	221	18	ventures	venture	NOUN
faba-177	221	19	appears	appear	VERB
faba-177	221	20	prudent	prudent	ADJ
faba-177	221	21	.	.	PUNCT
faba-177	222	1	investor	investor	NOUN
faba-177	222	2	motivations	motivation	NOUN
faba-177	222	3	examining	examine	VERB
faba-177	222	4	landx	landx	ADJ
faba-177	222	5	investor	investor	NOUN
faba-177	222	6	incentives	incentive	NOUN
faba-177	222	7	revealed	reveal	VERB
faba-177	222	8	a	a	DET
faba-177	222	9	heterogeneous	heterogeneous	ADJ
faba-177	222	10	landscape	landscape	NOUN
faba-177	222	11	spanning	span	VERB
faba-177	222	12	rational	rational	ADJ
faba-177	222	13	motivations	motivation	NOUN
faba-177	222	14	like	like	ADP
faba-177	222	15	returns	return	NOUN
faba-177	222	16	and	and	CCONJ
faba-177	222	17	diversification	diversification	NOUN
faba-177	222	18	to	to	ADP
faba-177	222	19	more	more	ADV
faba-177	222	20	emotional	emotional	ADJ
faba-177	222	21	drivers	driver	NOUN
faba-177	222	22	based	base	VERB
faba-177	222	23	on	on	ADP
faba-177	222	24	passions	passion	NOUN
faba-177	222	25	,	,	PUNCT
faba-177	222	26	interests	interest	NOUN
faba-177	222	27	,	,	PUNCT
faba-177	222	28	social	social	ADJ
faba-177	222	29	causes	cause	NOUN
faba-177	222	30	,	,	PUNCT
faba-177	222	31	and	and	CCONJ
faba-177	222	32	personal	personal	ADJ
faba-177	222	33	connections	connection	NOUN
faba-177	222	34	.	.	PUNCT
faba-177	223	1	interviews	interview	NOUN
faba-177	223	2	pointed	point	VERB
faba-177	223	3	to	to	ADP
faba-177	223	4	investor	investor	NOUN
faba-177	223	5	segments	segment	NOUN
faba-177	223	6	motivated	motivate	VERB
faba-177	223	7	by	by	ADP
faba-177	223	8	1	1	NUM
faba-177	223	9	)	)	PUNCT
faba-177	223	10	above	above	ADP
faba-177	223	11	average	average	ADJ
faba-177	223	12	return	return	NOUN
faba-177	223	13	prospects	prospect	NOUN
faba-177	223	14	from	from	ADP
faba-177	223	15	high	high	ADJ
faba-177	223	16	growth	growth	NOUN
faba-177	223	17	enterprises	enterprise	NOUN
faba-177	223	18	2	2	NUM
faba-177	223	19	)	)	PUNCT
faba-177	223	20	diversification	diversification	NOUN
faba-177	223	21	into	into	ADP
faba-177	223	22	alternative	alternative	ADJ
faba-177	223	23	assets	asset	NOUN
faba-177	223	24	not	not	PART
faba-177	223	25	correlated	correlate	VERB
faba-177	223	26	to	to	ADP
faba-177	223	27	public	public	ADJ
faba-177	223	28	markets	market	NOUN
faba-177	223	29	and	and	CCONJ
faba-177	223	30	3	3	X
faba-177	223	31	)	)	PUNCT
faba-177	223	32	accessibility	accessibility	NOUN
faba-177	223	33	to	to	PART
faba-177	223	34	invest	invest	VERB
faba-177	223	35	small	small	ADJ
faba-177	223	36	amounts	amount	NOUN
faba-177	223	37	in	in	ADP
faba-177	223	38	brands	brand	NOUN
faba-177	223	39	they	they	PRON
faba-177	223	40	patronize	patronize	VERB
faba-177	223	41	and	and	CCONJ
faba-177	223	42	believe	believe	VERB
faba-177	223	43	in	in	ADP
faba-177	223	44	.	.	PUNCT
faba-177	224	1	millennials	millennial	NOUN
faba-177	224	2	especially	especially	ADV
faba-177	224	3	appreciate	appreciate	VERB
faba-177	224	4	the	the	DET
faba-177	224	5	lowered	lower	VERB
faba-177	224	6	barrier	barrier	NOUN
faba-177	224	7	to	to	PART
faba-177	224	8	own	own	VERB
faba-177	224	9	equity	equity	NOUN
faba-177	224	10	in	in	ADP
faba-177	224	11	relatable	relatable	ADJ
faba-177	224	12	brands	brand	NOUN
faba-177	224	13	.	.	PUNCT
faba-177	225	1	however	however	ADV
faba-177	225	2	,	,	PUNCT
faba-177	225	3	the	the	DET
faba-177	225	4	ceo	ceo	NOUN
faba-177	225	5	acknowledged	acknowledge	VERB
faba-177	225	6	gaps	gap	NOUN
faba-177	225	7	in	in	ADP
faba-177	225	8	risk	risk	NOUN
faba-177	225	9	appreciation	appreciation	NOUN
faba-177	225	10	by	by	ADP
faba-177	225	11	some	some	DET
faba-177	225	12	investors	investor	NOUN
faba-177	225	13	,	,	PUNCT
faba-177	225	14	despite	despite	SCONJ
faba-177	225	15	education	education	NOUN
faba-177	225	16	efforts	effort	NOUN
faba-177	225	17	.	.	PUNCT
faba-177	226	1	when	when	SCONJ
faba-177	226	2	business	business	NOUN
faba-177	226	3	challenges	challenge	NOUN
faba-177	226	4	occur	occur	VERB
faba-177	226	5	,	,	PUNCT
faba-177	226	6	investors	investor	NOUN
faba-177	226	7	with	with	ADP
faba-177	226	8	poor	poor	ADJ
faba-177	226	9	risk	risk	NOUN
faba-177	226	10	understanding	understand	VERB
faba-177	226	11	rush	rush	NOUN
faba-177	226	12	to	to	PART
faba-177	226	13	blame	blame	VERB
faba-177	226	14	platforms	platform	NOUN
faba-177	226	15	,	,	PUNCT
faba-177	226	16	rather	rather	ADV
faba-177	226	17	than	than	ADP
faba-177	226	18	comprehending	comprehend	VERB
faba-177	226	19	inherent	inherent	ADJ
faba-177	226	20	volatility	volatility	NOUN
faba-177	226	21	.	.	PUNCT
faba-177	227	1	this	this	DET
faba-177	227	2	reaction	reaction	NOUN
faba-177	227	3	appears	appear	VERB
faba-177	227	4	more	more	ADV
faba-177	227	5	common	common	ADJ
faba-177	227	6	among	among	ADP
faba-177	227	7	new	new	ADJ
faba-177	227	8	investors	investor	NOUN
faba-177	227	9	versus	versus	ADP
faba-177	227	10	those	those	PRON
faba-177	227	11	with	with	ADP
faba-177	227	12	experience	experience	NOUN
faba-177	227	13	across	across	ADP
faba-177	227	14	multiple	multiple	ADJ
faba-177	227	15	offerings	offering	NOUN
faba-177	227	16	.	.	PUNCT
faba-177	228	1	analysis	analysis	NOUN
faba-177	228	2	of	of	ADP
faba-177	228	3	investor	investor	NOUN
faba-177	228	4	transcripts	transcript	NOUN
faba-177	228	5	uncovered	uncover	VERB
faba-177	228	6	both	both	DET
faba-177	228	7	calculated	calculate	VERB
faba-177	228	8	investors	investor	NOUN
faba-177	228	9	focused	focus	VERB
faba-177	228	10	on	on	ADP
faba-177	228	11	returns	return	NOUN
faba-177	228	12	/	/	SYM
faba-177	228	13	diversification	diversification	NOUN
faba-177	228	14	and	and	CCONJ
faba-177	228	15	passion	passion	NOUN
faba-177	228	16	investors	investor	NOUN
faba-177	228	17	exhibiting	exhibit	VERB
faba-177	228	18	cognitive	cognitive	ADJ
faba-177	228	19	biases	bias	NOUN
faba-177	228	20	,	,	PUNCT
faba-177	228	21	herding	herding	NOUN
faba-177	228	22	effects	effect	NOUN
faba-177	228	23	,	,	PUNCT
faba-177	228	24	and	and	CCONJ
faba-177	228	25	lack	lack	NOUN
faba-177	228	26	of	of	ADP
faba-177	228	27	diligence	diligence	NOUN
faba-177	228	28	.	.	PUNCT
faba-177	229	1	for	for	ADP
faba-177	229	2	example	example	NOUN
faba-177	229	3	,	,	PUNCT
faba-177	229	4	food	food	NOUN
faba-177	229	5	brand	brand	NOUN
faba-177	229	6	investors	investor	NOUN
faba-177	229	7	relied	rely	VERB
faba-177	229	8	on	on	ADP
faba-177	229	9	personal	personal	ADJ
faba-177	229	10	preferences	preference	NOUN
faba-177	229	11	versus	versus	ADP
faba-177	229	12	objective	objective	ADJ
faba-177	229	13	data	datum	NOUN
faba-177	229	14	.	.	PUNCT
faba-177	230	1	the	the	DET
faba-177	230	2	strategic	strategic	ADJ
faba-177	230	3	investors	investor	NOUN
faba-177	230	4	devoted	devote	VERB
faba-177	230	5	more	more	ADJ
faba-177	230	6	effort	effort	NOUN
faba-177	230	7	towards	towards	ADP
faba-177	230	8	due	due	ADJ
faba-177	230	9	diligence	diligence	NOUN
faba-177	230	10	and	and	CCONJ
faba-177	230	11	risk	risk	NOUN
faba-177	230	12	evaluation	evaluation	NOUN
faba-177	230	13	.	.	PUNCT
faba-177	231	1	the	the	DET
faba-177	231	2	diversification	diversification	NOUN
faba-177	231	3	motivation	motivation	NOUN
faba-177	231	4	expressed	express	VERB
faba-177	231	5	by	by	ADP
faba-177	231	6	many	many	ADJ
faba-177	231	7	landx	landx	ADJ
faba-177	231	8	investors	investor	NOUN
faba-177	231	9	fits	fit	VERB
faba-177	231	10	with	with	ADP
faba-177	231	11	principles	principle	NOUN
faba-177	231	12	of	of	ADP
faba-177	231	13	modern	modern	ADJ
faba-177	231	14	portfolio	portfolio	NOUN
faba-177	231	15	theory	theory	NOUN
faba-177	231	16	,	,	PUNCT
faba-177	231	17	which	which	PRON
faba-177	231	18	promotes	promote	VERB
faba-177	231	19	diversifying	diversify	VERB
faba-177	231	20	across	across	ADP
faba-177	231	21	uncorrelated	uncorrelated	ADJ
faba-177	231	22	asset	asset	NOUN
faba-177	231	23	classes	class	NOUN
faba-177	231	24	to	to	PART
faba-177	231	25	optimize	optimize	VERB
faba-177	231	26	risk	risk	NOUN
faba-177	231	27	-	-	PUNCT
faba-177	231	28	adjusted	adjust	VERB
faba-177	231	29	returns	return	NOUN
faba-177	231	30	.	.	PUNCT
faba-177	232	1	equity	equity	NOUN
faba-177	232	2	crowdfunding	crowdfunding	NOUN
faba-177	232	3	democratizes	democratize	VERB
faba-177	232	4	access	access	NOUN
faba-177	232	5	to	to	ADP
faba-177	232	6	alternative	alternative	ADJ
faba-177	232	7	assets	asset	NOUN
faba-177	232	8	like	like	ADP
faba-177	232	9	private	private	ADJ
faba-177	232	10	company	company	NOUN
faba-177	232	11	stocks	stock	NOUN
faba-177	232	12	that	that	PRON
faba-177	232	13	were	be	AUX
faba-177	232	14	previously	previously	ADV
faba-177	232	15	only	only	ADV
faba-177	232	16	available	available	ADJ
faba-177	232	17	to	to	ADP
faba-177	232	18	institutional	institutional	ADJ
faba-177	232	19	investors	investor	NOUN
faba-177	232	20	(	(	PUNCT
faba-177	232	21	agrawal	agrawal	PROPN
faba-177	232	22	et	et	PROPN
faba-177	232	23	al	al	PROPN
faba-177	232	24	.	.	PROPN
faba-177	232	25	2015	2015	NUM
faba-177	232	26	)	)	PUNCT
faba-177	232	27	.	.	PUNCT
faba-177	233	1	this	this	PRON
faba-177	233	2	aligns	align	VERB
faba-177	233	3	with	with	ADP
faba-177	233	4	the	the	DET
faba-177	233	5	view	view	NOUN
faba-177	233	6	that	that	SCONJ
faba-177	233	7	crowd	crowd	NOUN
faba-177	233	8	-	-	PUNCT
faba-177	233	9	based	base	VERB
faba-177	233	10	markets	market	NOUN
faba-177	233	11	can	can	AUX
faba-177	233	12	efficiently	efficiently	ADV
faba-177	233	13	aggregate	aggregate	VERB
faba-177	233	14	and	and	CCONJ
faba-177	233	15	distribute	distribute	VERB
faba-177	233	16	capital	capital	NOUN
faba-177	233	17	,	,	PUNCT
faba-177	233	18	tailoring	tailor	VERB
faba-177	233	19	risk	risk	NOUN
faba-177	233	20	preferences	preference	NOUN
faba-177	233	21	(	(	PUNCT
faba-177	233	22	burtch	burtch	VERB
faba-177	233	23	et	et	PROPN
faba-177	233	24	al	al	PROPN
faba-177	233	25	.	.	PROPN
faba-177	233	26	2018	2018	NUM
faba-177	233	27	)	)	PUNCT
faba-177	233	28	.	.	PUNCT
faba-177	234	1	the	the	DET
faba-177	234	2	study	study	NOUN
faba-177	234	3	reveals	reveal	VERB
faba-177	234	4	a	a	DET
faba-177	234	5	heterogeneous	heterogeneous	ADJ
faba-177	234	6	landscape	landscape	NOUN
faba-177	234	7	of	of	ADP
faba-177	234	8	investor	investor	NOUN
faba-177	234	9	incentives	incentive	NOUN
faba-177	234	10	spanning	span	VERB
faba-177	234	11	rational	rational	ADJ
faba-177	234	12	to	to	AUX
faba-177	234	13	emotional	emotional	ADJ
faba-177	234	14	.	.	PUNCT
faba-177	235	1	most	most	ADJ
faba-177	235	2	investors	investor	NOUN
faba-177	235	3	demonstrate	demonstrate	VERB
faba-177	235	4	hybrid	hybrid	ADJ
faba-177	235	5	motivations	motivation	NOUN
faba-177	235	6	,	,	PUNCT
faba-177	235	7	aligning	align	VERB
faba-177	235	8	with	with	ADP
faba-177	235	9	studies	study	NOUN
faba-177	235	10	showing	show	VERB
faba-177	235	11	complex	complex	ADJ
faba-177	235	12	segmentation	segmentation	NOUN
faba-177	235	13	(	(	PUNCT
faba-177	235	14	cholakova	cholakova	VERB
faba-177	235	15	and	and	CCONJ
faba-177	235	16	clarysse	clarysse	VERB
faba-177	235	17	2015	2015	NUM
faba-177	235	18	)	)	PUNCT
faba-177	235	19	.	.	PUNCT
faba-177	236	1	logical	logical	ADJ
faba-177	236	2	drivers	driver	NOUN
faba-177	236	3	like	like	ADP
faba-177	236	4	diversification	diversification	NOUN
faba-177	236	5	and	and	CCONJ
faba-177	236	6	returns	return	NOUN
faba-177	236	7	target	target	VERB
faba-177	236	8	underserved	underserved	ADJ
faba-177	236	9	alternative	alternative	ADJ
faba-177	236	10	assets	asset	NOUN
faba-177	236	11	,	,	PUNCT
faba-177	236	12	expanding	expand	VERB
faba-177	236	13	access	access	NOUN
faba-177	236	14	.	.	PUNCT
faba-177	237	1	however	however	ADV
faba-177	237	2	,	,	PUNCT
faba-177	237	3	passions	passion	NOUN
faba-177	237	4	and	and	CCONJ
faba-177	237	5	interests	interest	NOUN
faba-177	237	6	can	can	AUX
faba-177	237	7	override	override	VERB
faba-177	237	8	diligence	diligence	NOUN
faba-177	237	9	,	,	PUNCT
faba-177	237	10	requiring	require	VERB
faba-177	237	11	knowledge	knowledge	NOUN
faba-177	237	12	and	and	CCONJ
faba-177	237	13	education	education	NOUN
faba-177	237	14	.	.	PUNCT
faba-177	238	1	however	however	ADV
faba-177	238	2	,	,	PUNCT
faba-177	238	3	the	the	DET
faba-177	238	4	attraction	attraction	NOUN
faba-177	238	5	of	of	ADP
faba-177	238	6	speculative	speculative	ADJ
faba-177	238	7	investors	investor	NOUN
faba-177	238	8	to	to	PART
faba-177	238	9	projected	project	VERB
faba-177	238	10	high	high	ADJ
faba-177	238	11	returns	return	NOUN
faba-177	238	12	despite	despite	SCONJ
faba-177	238	13	apparent	apparent	ADJ
faba-177	238	14	risk	risk	NOUN
faba-177	238	15	aversion	aversion	NOUN
faba-177	238	16	contradicts	contradict	VERB
faba-177	238	17	tenets	tenet	NOUN
faba-177	238	18	of	of	ADP
faba-177	238	19	rational	rational	ADJ
faba-177	238	20	investment	investment	NOUN
faba-177	238	21	.	.	PUNCT
faba-177	239	1	individuals	individual	NOUN
faba-177	239	2	frequently	frequently	ADV
faba-177	239	3	exhibit	exhibit	VERB
faba-177	239	4	behavioral	behavioral	ADJ
faba-177	239	5	biases	bias	NOUN
faba-177	239	6	and	and	CCONJ
faba-177	239	7	overoptimism	overoptimism	NOUN
faba-177	239	8	in	in	ADP
faba-177	239	9	assessing	assess	VERB
faba-177	239	10	risks	risk	NOUN
faba-177	239	11	,	,	PUNCT
faba-177	239	12	as	as	SCONJ
faba-177	239	13	highlighted	highlight	VERB
faba-177	239	14	in	in	ADP
faba-177	239	15	prospect	prospect	NOUN
faba-177	239	16	theory	theory	NOUN
faba-177	239	17	(	(	PUNCT
faba-177	239	18	kahneman	kahneman	NOUN
faba-177	239	19	and	and	CCONJ
faba-177	239	20	tversky	tversky	NOUN
faba-177	239	21	1979	1979	NUM
faba-177	239	22	)	)	PUNCT
faba-177	239	23	.	.	PUNCT
faba-177	240	1	first	first	ADJ
faba-177	240	2	-	-	PUNCT
faba-177	240	3	time	time	NOUN
faba-177	240	4	crowdfunding	crowdfunding	NOUN
faba-177	240	5	investors	investor	NOUN
faba-177	240	6	are	be	AUX
faba-177	240	7	prone	prone	ADJ
faba-177	240	8	to	to	ADP
faba-177	240	9	unrealistic	unrealistic	ADJ
faba-177	240	10	expectations	expectation	NOUN
faba-177	240	11	,	,	PUNCT
faba-177	240	12	lack	lack	NOUN
faba-177	240	13	of	of	ADP
faba-177	240	14	comprehension	comprehension	NOUN
faba-177	240	15	of	of	ADP
faba-177	240	16	the	the	DET
faba-177	240	17	equity	equity	NOUN
faba-177	240	18	model	model	NOUN
faba-177	240	19	,	,	PUNCT
faba-177	240	20	and	and	CCONJ
faba-177	240	21	risk	risk	NOUN
faba-177	240	22	underestimation	underestimation	NOUN
faba-177	240	23	.	.	PUNCT
faba-177	241	1	their	their	PRON
faba-177	241	2	subsequent	subsequent	ADJ
faba-177	241	3	dissatisfaction	dissatisfaction	NOUN
faba-177	241	4	when	when	SCONJ
faba-177	241	5	faced	face	VERB
faba-177	241	6	with	with	ADP
faba-177	241	7	business	business	NOUN
faba-177	241	8	underperformance	underperformance	NOUN
faba-177	241	9	or	or	CCONJ
faba-177	241	10	losses	loss	NOUN
faba-177	241	11	leads	lead	VERB
faba-177	241	12	to	to	ADP
faba-177	241	13	grievances	grievance	NOUN
faba-177	241	14	against	against	ADP
faba-177	241	15	platforms	platform	NOUN
faba-177	241	16	.	.	PUNCT
faba-177	242	1	research	research	NOUN
faba-177	242	2	shows	show	VERB
faba-177	242	3	that	that	SCONJ
faba-177	242	4	crowdfunding	crowdfunding	NOUN
faba-177	242	5	backers	backer	NOUN
faba-177	242	6	span	span	VERB
faba-177	242	7	distinct	distinct	ADJ
faba-177	242	8	archetypes	archetype	NOUN
faba-177	242	9	like	like	ADP
faba-177	242	10	devoted	devoted	ADJ
faba-177	242	11	fans	fan	NOUN
faba-177	242	12	,	,	PUNCT
faba-177	242	13	tastemakers	tastemaker	NOUN
faba-177	242	14	,	,	PUNCT
faba-177	242	15	and	and	CCONJ
faba-177	242	16	profit	profit	NOUN
faba-177	242	17	-	-	PUNCT
faba-177	242	18	seekers	seeker	NOUN
faba-177	242	19	(	(	PUNCT
faba-177	242	20	siering	siere	VERB
faba-177	242	21	et	et	PROPN
faba-177	242	22	al	al	PROPN
faba-177	242	23	.	.	PROPN
faba-177	242	24	2022	2022	NUM
faba-177	242	25	)	)	PUNCT
faba-177	242	26	.	.	PUNCT
faba-177	243	1	landx	landx	PROPN
faba-177	243	2	’s	’s	PART
faba-177	243	3	categorization	categorization	NOUN
faba-177	243	4	of	of	ADP
faba-177	243	5	their	their	PRON
faba-177	243	6	investor	investor	NOUN
faba-177	243	7	base	base	NOUN
faba-177	243	8	into	into	ADP
faba-177	243	9	“	"	PUNCT
faba-177	243	10	strategic	strategic	ADJ
faba-177	243	11	”	"	PUNCT
faba-177	243	12	and	and	CCONJ
faba-177	243	13	“	"	PUNCT
faba-177	243	14	speculative	speculative	ADJ
faba-177	243	15	”	"	PUNCT
faba-177	243	16	segments	segment	NOUN
faba-177	243	17	mirrors	mirror	VERB
faba-177	243	18	this	this	PRON
faba-177	243	19	.	.	PUNCT
faba-177	244	1	platform	platform	NOUN
faba-177	244	2	education	education	NOUN
faba-177	244	3	efforts	effort	NOUN
faba-177	244	4	should	should	AUX
faba-177	244	5	thus	thus	ADV
faba-177	244	6	be	be	AUX
faba-177	244	7	tailored	tailor	VERB
faba-177	244	8	for	for	ADP
faba-177	244	9	each	each	DET
faba-177	244	10	profile	profile	NOUN
faba-177	244	11	sanjaya	sanjaya	PROPN
faba-177	244	12	and	and	CCONJ
faba-177	244	13	koesrindartoto	koesrindartoto	PROPN
faba-177	244	14	/	/	SYM
faba-177	244	15	finance	finance	NOUN
faba-177	244	16	,	,	PUNCT
faba-177	244	17	accounting	accounting	NOUN
faba-177	244	18	and	and	CCONJ
faba-177	244	19	business	business	NOUN
faba-177	244	20	analysis	analysis	NOUN
faba-177	244	21	,	,	PUNCT
faba-177	244	22	volume	volume	NOUN
faba-177	244	23	5	5	NUM
faba-177	244	24	,	,	PUNCT
faba-177	244	25	issue	issue	NOUN
faba-177	244	26	2	2	NUM
faba-177	244	27	,	,	PUNCT
faba-177	244	28	2023	2023	NUM
faba-177	244	29	181	181	NUM
faba-177	244	30	promoting	promote	VERB
faba-177	244	31	measured	measure	VERB
faba-177	244	32	portfolio	portfolio	NOUN
faba-177	244	33	approaches	approach	NOUN
faba-177	244	34	for	for	ADP
faba-177	244	35	the	the	DET
faba-177	244	36	former	former	ADJ
faba-177	244	37	while	while	SCONJ
faba-177	244	38	tempering	temper	VERB
faba-177	244	39	return	return	NOUN
faba-177	244	40	illusions	illusion	NOUN
faba-177	244	41	for	for	ADP
faba-177	244	42	the	the	DET
faba-177	244	43	latter	latter	ADJ
faba-177	244	44	.	.	PUNCT
faba-177	245	1	moving	move	VERB
faba-177	245	2	potential	potential	ADJ
faba-177	245	3	investors	investor	NOUN
faba-177	245	4	from	from	ADP
faba-177	245	5	a	a	DET
faba-177	245	6	transactions	transaction	NOUN
faba-177	245	7	to	to	ADP
faba-177	245	8	relationships	relationship	NOUN
faba-177	245	9	mindset	mindset	NOUN
faba-177	245	10	also	also	ADV
faba-177	245	11	manages	manage	VERB
faba-177	245	12	expectations	expectation	NOUN
faba-177	245	13	(	(	PUNCT
faba-177	245	14	zvilichovsky	zvilichovsky	NOUN
faba-177	245	15	et	et	PROPN
faba-177	245	16	al	al	PROPN
faba-177	245	17	.	.	PROPN
faba-177	245	18	2018	2018	NUM
faba-177	245	19	)	)	PUNCT
faba-177	245	20	.	.	PUNCT
faba-177	246	1	while	while	SCONJ
faba-177	246	2	emotional	emotional	ADJ
faba-177	246	3	motivations	motivation	NOUN
faba-177	246	4	provide	provide	VERB
faba-177	246	5	energy	energy	NOUN
faba-177	246	6	,	,	PUNCT
faba-177	246	7	pure	pure	ADJ
faba-177	246	8	excitement	excitement	NOUN
faba-177	246	9	risks	risk	NOUN
faba-177	246	10	bias	bias	NOUN
faba-177	246	11	.	.	PUNCT
faba-177	247	1	as	as	ADP
faba-177	247	2	dorfleitner	dorfleitner	PROPN
faba-177	247	3	et	et	PROPN
faba-177	247	4	al	al	PROPN
faba-177	247	5	.	.	PROPN
faba-177	248	1	(	(	PUNCT
faba-177	248	2	2021	2021	NUM
faba-177	248	3	)	)	PUNCT
faba-177	248	4	find	find	VERB
faba-177	248	5	,	,	PUNCT
faba-177	248	6	realized	realize	VERB
faba-177	248	7	returns	return	NOUN
faba-177	248	8	often	often	ADV
faba-177	248	9	diverge	diverge	VERB
faba-177	248	10	from	from	ADP
faba-177	248	11	investor	investor	NOUN
faba-177	248	12	perceptions	perception	NOUN
faba-177	248	13	.	.	PUNCT
faba-177	249	1	furthermore	furthermore	ADV
faba-177	249	2	,	,	PUNCT
faba-177	249	3	the	the	DET
faba-177	249	4	pursuit	pursuit	NOUN
faba-177	249	5	of	of	ADP
faba-177	249	6	non	non	ADJ
faba-177	249	7	-	-	ADJ
faba-177	249	8	financial	financial	ADJ
faba-177	249	9	rewards	reward	NOUN
faba-177	249	10	can	can	AUX
faba-177	249	11	lead	lead	VERB
faba-177	249	12	to	to	ADP
faba-177	249	13	lopsided	lopsided	ADJ
faba-177	249	14	risk	risk	NOUN
faba-177	249	15	-	-	PUNCT
faba-177	249	16	taking	taking	NOUN
faba-177	249	17	.	.	PUNCT
faba-177	250	1	this	this	PRON
faba-177	250	2	underscores	underscore	VERB
faba-177	250	3	the	the	DET
faba-177	250	4	need	need	NOUN
faba-177	250	5	for	for	ADP
faba-177	250	6	differentiated	differentiated	ADJ
faba-177	250	7	communication	communication	NOUN
faba-177	250	8	tailored	tailor	VERB
faba-177	250	9	to	to	ADP
faba-177	250	10	investor	investor	NOUN
faba-177	250	11	backgrounds	background	NOUN
faba-177	250	12	.	.	PUNCT
faba-177	251	1	just	just	ADV
faba-177	251	2	as	as	SCONJ
faba-177	251	3	past	past	ADJ
faba-177	251	4	research	research	NOUN
faba-177	251	5	points	point	NOUN
faba-177	251	6	to	to	PART
faba-177	251	7	varied	varied	ADJ
faba-177	251	8	due	due	ADJ
faba-177	251	9	diligence	diligence	NOUN
faba-177	251	10	processes	process	NOUN
faba-177	251	11	across	across	ADP
faba-177	251	12	segments	segment	NOUN
faba-177	251	13	(	(	PUNCT
faba-177	251	14	li	li	PROPN
faba-177	251	15	et	et	PROPN
faba-177	251	16	al	al	PROPN
faba-177	251	17	.	.	PROPN
faba-177	251	18	2021	2021	NUM
faba-177	251	19	)	)	PUNCT
faba-177	251	20	,	,	PUNCT
faba-177	251	21	so	so	ADV
faba-177	251	22	should	should	AUX
faba-177	251	23	stewardship	stewardship	NOUN
faba-177	251	24	messaging	messaging	NOUN
faba-177	251	25	be	be	AUX
faba-177	251	26	personalized	personalize	VERB
faba-177	251	27	.	.	PUNCT
faba-177	252	1	crowdfunding	crowdfunde	VERB
faba-177	252	2	markets	market	NOUN
faba-177	252	3	worldwide	worldwide	ADV
faba-177	252	4	are	be	AUX
faba-177	252	5	also	also	ADV
faba-177	252	6	evolving	evolve	VERB
faba-177	252	7	issuer	issuer	ADJ
faba-177	252	8	categories	category	NOUN
faba-177	252	9	like	like	ADP
faba-177	252	10	“	"	PUNCT
faba-177	252	11	impact	impact	NOUN
faba-177	252	12	”	"	PUNCT
faba-177	252	13	and	and	CCONJ
faba-177	252	14	“	"	PUNCT
faba-177	252	15	sustainable	sustainable	ADJ
faba-177	252	16	”	"	PUNCT
faba-177	252	17	for	for	ADP
faba-177	252	18	values	value	NOUN
faba-177	252	19	-	-	PUNCT
faba-177	252	20	driven	drive	VERB
faba-177	252	21	investors	investor	NOUN
faba-177	252	22	.	.	PUNCT
faba-177	253	1	introducing	introduce	VERB
faba-177	253	2	aligned	aligned	ADJ
faba-177	253	3	categories	category	NOUN
faba-177	253	4	synchronized	synchronize	VERB
faba-177	253	5	with	with	ADP
faba-177	253	6	investor	investor	NOUN
faba-177	253	7	motivations	motivation	NOUN
faba-177	253	8	could	could	AUX
faba-177	253	9	enhance	enhance	VERB
faba-177	253	10	satisfaction	satisfaction	NOUN
faba-177	253	11	.	.	PUNCT
faba-177	254	1	segmenting	segment	VERB
faba-177	254	2	user	user	NOUN
faba-177	254	3	funding	funding	NOUN
faba-177	254	4	patterns	pattern	NOUN
faba-177	254	5	could	could	AUX
faba-177	254	6	help	help	VERB
faba-177	254	7	platforms	platform	NOUN
faba-177	254	8	customize	customize	VERB
faba-177	254	9	risk	risk	NOUN
faba-177	254	10	communication	communication	NOUN
faba-177	254	11	and	and	CCONJ
faba-177	254	12	mitigate	mitigate	VERB
faba-177	254	13	mismatched	mismatched	ADJ
faba-177	254	14	aspirations	aspiration	NOUN
faba-177	254	15	.	.	PUNCT
faba-177	255	1	tailored	tailor	VERB
faba-177	255	2	communication	communication	NOUN
faba-177	255	3	and	and	CCONJ
faba-177	255	4	products	product	NOUN
faba-177	255	5	aligned	align	VERB
faba-177	255	6	to	to	ADP
faba-177	255	7	user	user	NOUN
faba-177	255	8	motivations	motivation	NOUN
faba-177	255	9	appear	appear	VERB
faba-177	255	10	beneficial	beneficial	ADJ
faba-177	255	11	to	to	PART
faba-177	255	12	promote	promote	VERB
faba-177	255	13	diligence	diligence	NOUN
faba-177	255	14	and	and	CCONJ
faba-177	255	15	temper	temper	NOUN
faba-177	255	16	biases	bias	NOUN
faba-177	255	17	.	.	PUNCT
faba-177	256	1	explaining	explain	VERB
faba-177	256	2	risks	risk	NOUN
faba-177	256	3	like	like	ADP
faba-177	256	4	volatility	volatility	NOUN
faba-177	256	5	by	by	ADP
faba-177	256	6	sector	sector	NOUN
faba-177	256	7	could	could	AUX
faba-177	256	8	encourage	encourage	VERB
faba-177	256	9	prudence	prudence	NOUN
faba-177	256	10	among	among	ADP
faba-177	256	11	passion	passion	NOUN
faba-177	256	12	-	-	PUNCT
faba-177	256	13	driven	drive	VERB
faba-177	256	14	investors	investor	NOUN
faba-177	256	15	.	.	PUNCT
faba-177	257	1	developing	develop	VERB
faba-177	257	2	pooled	pool	VERB
faba-177	257	3	"	"	PUNCT
faba-177	257	4	index	index	NOUN
faba-177	257	5	"	"	PUNCT
faba-177	257	6	style	style	NOUN
faba-177	257	7	products	product	NOUN
faba-177	257	8	combining	combine	VERB
faba-177	257	9	diverse	diverse	ADJ
faba-177	257	10	issuers	issuer	NOUN
faba-177	257	11	may	may	AUX
faba-177	257	12	also	also	ADV
faba-177	257	13	curb	curb	VERB
faba-177	257	14	overexposure	overexposure	NOUN
faba-177	257	15	to	to	ADP
faba-177	257	16	specific	specific	ADJ
faba-177	257	17	assets	asset	NOUN
faba-177	257	18	.	.	PUNCT
faba-177	258	1	overall	overall	ADV
faba-177	258	2	,	,	PUNCT
faba-177	258	3	findings	finding	NOUN
faba-177	258	4	emphasized	emphasize	VERB
faba-177	258	5	the	the	DET
faba-177	258	6	need	need	NOUN
faba-177	258	7	for	for	ADP
faba-177	258	8	differentiated	differentiated	ADJ
faba-177	258	9	platform	platform	NOUN
faba-177	258	10	strategies	strategy	NOUN
faba-177	258	11	catering	cater	VERB
faba-177	258	12	to	to	ADP
faba-177	258	13	the	the	DET
faba-177	258	14	distinct	distinct	ADJ
faba-177	258	15	needs	need	NOUN
faba-177	258	16	and	and	CCONJ
faba-177	258	17	inclinations	inclination	NOUN
faba-177	258	18	of	of	ADP
faba-177	258	19	varied	varied	ADJ
faba-177	258	20	investor	investor	NOUN
faba-177	258	21	archetypes	archetype	NOUN
faba-177	258	22	.	.	PUNCT
faba-177	259	1	regulatory	regulatory	ADJ
faba-177	259	2	landscape	landscape	NOUN
faba-177	259	3	examination	examination	NOUN
faba-177	259	4	of	of	ADP
faba-177	259	5	landx	landx	PROPN
faba-177	259	6	's	's	PART
faba-177	259	7	regulatory	regulatory	ADJ
faba-177	259	8	approach	approach	NOUN
faba-177	259	9	revealed	reveal	VERB
faba-177	259	10	a	a	DET
faba-177	259	11	strategy	strategy	NOUN
faba-177	259	12	of	of	ADP
faba-177	259	13	strict	strict	ADJ
faba-177	259	14	compliance	compliance	NOUN
faba-177	259	15	with	with	ADP
faba-177	259	16	existing	exist	VERB
faba-177	259	17	policies	policy	NOUN
faba-177	259	18	complemented	complement	VERB
faba-177	259	19	by	by	ADP
faba-177	259	20	self	self	NOUN
faba-177	259	21	-	-	PUNCT
faba-177	259	22	imposed	impose	VERB
faba-177	259	23	governance	governance	NOUN
faba-177	259	24	practices	practice	NOUN
faba-177	259	25	exceeding	exceed	VERB
faba-177	259	26	minimum	minimum	ADJ
faba-177	259	27	requirements	requirement	NOUN
faba-177	259	28	.	.	PUNCT
faba-177	260	1	this	this	DET
faba-177	260	2	compensates	compensate	NOUN
faba-177	260	3	for	for	ADP
faba-177	260	4	oversight	oversight	NOUN
faba-177	260	5	ambiguities	ambiguity	NOUN
faba-177	260	6	in	in	ADP
faba-177	260	7	indonesia	indonesia	PROPN
faba-177	260	8	's	's	PART
faba-177	260	9	nascent	nascent	ADJ
faba-177	260	10	equity	equity	NOUN
faba-177	260	11	crowdfunding	crowdfunding	NOUN
faba-177	260	12	sector	sector	NOUN
faba-177	260	13	.	.	PUNCT
faba-177	261	1	interviews	interview	NOUN
faba-177	261	2	highlighted	highlight	VERB
faba-177	261	3	comprehensive	comprehensive	ADJ
faba-177	261	4	adherence	adherence	NOUN
faba-177	261	5	to	to	ADP
faba-177	261	6	data	datum	NOUN
faba-177	261	7	privacy	privacy	NOUN
faba-177	261	8	laws	law	NOUN
faba-177	261	9	and	and	CCONJ
faba-177	261	10	investor	investor	NOUN
faba-177	261	11	suitability	suitability	NOUN
faba-177	261	12	requirements	requirement	NOUN
faba-177	261	13	as	as	ADP
faba-177	261	14	non	non	ADJ
faba-177	261	15	-	-	ADJ
faba-177	261	16	negotiable	negotiable	ADJ
faba-177	261	17	foundations	foundation	NOUN
faba-177	261	18	.	.	PUNCT
faba-177	262	1	proactive	proactive	ADJ
faba-177	262	2	transparency	transparency	NOUN
faba-177	262	3	through	through	ADP
faba-177	262	4	frequent	frequent	ADJ
faba-177	262	5	issuer	issuer	NOUN
faba-177	262	6	reporting	reporting	NOUN
faba-177	262	7	and	and	CCONJ
faba-177	262	8	open	open	ADJ
faba-177	262	9	dividend	dividend	NOUN
faba-177	262	10	updates	update	NOUN
faba-177	262	11	provides	provide	VERB
faba-177	262	12	additional	additional	ADJ
faba-177	262	13	investor	investor	NOUN
faba-177	262	14	protection	protection	NOUN
faba-177	262	15	.	.	PUNCT
faba-177	263	1	contracts	contract	NOUN
faba-177	263	2	hold	hold	VERB
faba-177	263	3	issuers	issuer	NOUN
faba-177	263	4	accountable	accountable	ADJ
faba-177	263	5	through	through	ADP
faba-177	263	6	buyback	buyback	NOUN
faba-177	263	7	guarantees	guarantee	NOUN
faba-177	263	8	.	.	PUNCT
faba-177	264	1	however	however	ADV
faba-177	264	2	,	,	PUNCT
faba-177	264	3	gaps	gap	NOUN
faba-177	264	4	remain	remain	VERB
faba-177	264	5	around	around	ADP
faba-177	264	6	supervision	supervision	NOUN
faba-177	264	7	of	of	ADP
faba-177	264	8	funded	funded	ADJ
faba-177	264	9	issuers	issuer	NOUN
faba-177	264	10	.	.	PUNCT
faba-177	265	1	landx	landx	PROPN
faba-177	265	2	lacks	lack	VERB
faba-177	265	3	formal	formal	ADJ
faba-177	265	4	regulatory	regulatory	ADJ
faba-177	265	5	authority	authority	NOUN
faba-177	265	6	to	to	PART
faba-177	265	7	enact	enact	VERB
faba-177	265	8	governance	governance	NOUN
faba-177	265	9	changes	change	NOUN
faba-177	265	10	or	or	CCONJ
faba-177	265	11	delist	delist	ADJ
faba-177	265	12	underperforming	underperforming	ADJ
faba-177	265	13	issuers	issuer	NOUN
faba-177	265	14	.	.	PUNCT
faba-177	266	1	industry	industry	NOUN
faba-177	266	2	associations	association	NOUN
faba-177	266	3	advocate	advocate	VERB
faba-177	266	4	updating	update	VERB
faba-177	266	5	regulations	regulation	NOUN
faba-177	266	6	to	to	PART
faba-177	266	7	expand	expand	VERB
faba-177	266	8	platform	platform	NOUN
faba-177	266	9	oversight	oversight	NOUN
faba-177	266	10	capabilities	capability	NOUN
faba-177	266	11	commensurate	commensurate	ADJ
faba-177	266	12	with	with	ADP
faba-177	266	13	sector	sector	NOUN
faba-177	266	14	growth	growth	NOUN
faba-177	266	15	.	.	PUNCT
faba-177	267	1	in	in	ADP
faba-177	267	2	the	the	DET
faba-177	267	3	interim	interim	ADJ
faba-177	267	4	,	,	PUNCT
faba-177	267	5	landx	landx	ADJ
faba-177	267	6	implements	implement	VERB
faba-177	267	7	protections	protection	NOUN
faba-177	267	8	like	like	ADP
faba-177	267	9	secondary	secondary	ADJ
faba-177	267	10	markets	market	NOUN
faba-177	267	11	and	and	CCONJ
faba-177	267	12	rights	right	NOUN
faba-177	267	13	issues	issue	NOUN
faba-177	267	14	despite	despite	SCONJ
faba-177	267	15	lack	lack	NOUN
faba-177	267	16	of	of	ADP
faba-177	267	17	directives	directive	NOUN
faba-177	267	18	.	.	PUNCT
faba-177	268	1	this	this	DET
faba-177	268	2	self	self	NOUN
faba-177	268	3	-	-	PUNCT
faba-177	268	4	regulation	regulation	NOUN
faba-177	268	5	enables	enable	VERB
faba-177	268	6	landx	landx	ADJ
faba-177	268	7	to	to	PART
faba-177	268	8	build	build	VERB
faba-177	268	9	legitimacy	legitimacy	NOUN
faba-177	268	10	and	and	CCONJ
faba-177	268	11	trust	trust	NOUN
faba-177	268	12	during	during	ADP
faba-177	268	13	regulatory	regulatory	ADJ
faba-177	268	14	uncertainty	uncertainty	NOUN
faba-177	268	15	,	,	PUNCT
faba-177	268	16	following	follow	VERB
faba-177	268	17	principles	principle	NOUN
faba-177	268	18	of	of	ADP
faba-177	268	19	legitimacy	legitimacy	NOUN
faba-177	268	20	theory	theory	NOUN
faba-177	268	21	.	.	PUNCT
faba-177	269	1	however	however	ADV
faba-177	269	2	,	,	PUNCT
faba-177	269	3	dependence	dependence	NOUN
faba-177	269	4	on	on	ADP
faba-177	269	5	voluntary	voluntary	ADJ
faba-177	269	6	issuer	issuer	NOUN
faba-177	269	7	cooperation	cooperation	NOUN
faba-177	269	8	poses	pose	VERB
faba-177	269	9	sustainability	sustainability	NOUN
faba-177	269	10	risks	risk	NOUN
faba-177	269	11	as	as	ADP
faba-177	269	12	platforms	platform	NOUN
faba-177	269	13	scale	scale	NOUN
faba-177	269	14	.	.	PUNCT
faba-177	270	1	updating	update	VERB
faba-177	270	2	regulations	regulation	NOUN
faba-177	270	3	to	to	PART
faba-177	270	4	mandate	mandate	VERB
faba-177	270	5	governance	governance	NOUN
faba-177	270	6	powers	power	NOUN
faba-177	270	7	could	could	AUX
faba-177	270	8	address	address	VERB
faba-177	270	9	risks	risk	NOUN
faba-177	270	10	from	from	ADP
faba-177	270	11	inconsistent	inconsistent	ADJ
faba-177	270	12	compliance	compliance	NOUN
faba-177	270	13	.	.	PUNCT
faba-177	271	1	landx	landx	PROPN
faba-177	271	2	's	's	PART
faba-177	271	3	compliance	compliance	NOUN
faba-177	271	4	with	with	ADP
faba-177	271	5	ojk	ojk	NOUN
faba-177	271	6	regulations	regulation	NOUN
faba-177	271	7	corresponds	correspond	VERB
faba-177	271	8	to	to	ADP
faba-177	271	9	agency	agency	NOUN
faba-177	271	10	theory	theory	NOUN
faba-177	271	11	's	's	PART
faba-177	271	12	focus	focus	NOUN
faba-177	271	13	on	on	ADP
faba-177	271	14	governance	governance	NOUN
faba-177	271	15	mechanisms	mechanism	NOUN
faba-177	271	16	that	that	PRON
faba-177	271	17	align	align	VERB
faba-177	271	18	interests	interest	NOUN
faba-177	271	19	and	and	CCONJ
faba-177	271	20	mitigate	mitigate	VERB
faba-177	271	21	risks	risk	NOUN
faba-177	271	22	from	from	ADP
faba-177	271	23	information	information	NOUN
faba-177	271	24	asymmetry	asymmetry	NOUN
faba-177	271	25	(	(	PUNCT
faba-177	271	26	cumming	cumming	NOUN
faba-177	271	27	and	and	CCONJ
faba-177	271	28	johan	johan	PROPN
faba-177	271	29	2013	2013	NUM
faba-177	271	30	)	)	PUNCT
faba-177	271	31	.	.	PUNCT
faba-177	272	1	regulation	regulation	NOUN
faba-177	272	2	serves	serve	VERB
faba-177	272	3	as	as	ADP
faba-177	272	4	an	an	DET
faba-177	272	5	external	external	ADJ
faba-177	272	6	governance	governance	NOUN
faba-177	272	7	structure	structure	NOUN
faba-177	272	8	that	that	PRON
faba-177	272	9	aligns	align	VERB
faba-177	272	10	the	the	DET
faba-177	272	11	interests	interest	NOUN
faba-177	272	12	of	of	ADP
faba-177	272	13	principles	principle	NOUN
faba-177	272	14	(	(	PUNCT
faba-177	272	15	investors	investor	NOUN
faba-177	272	16	)	)	PUNCT
faba-177	272	17	and	and	CCONJ
faba-177	272	18	agents	agent	NOUN
faba-177	272	19	(	(	PUNCT
faba-177	272	20	platforms	platform	NOUN
faba-177	272	21	)	)	PUNCT
faba-177	272	22	.	.	PUNCT
faba-177	273	1	this	this	PRON
faba-177	273	2	mitigates	mitigate	VERB
faba-177	273	3	risks	risk	NOUN
faba-177	273	4	arising	arise	VERB
faba-177	273	5	from	from	ADP
faba-177	273	6	asymmetric	asymmetric	ADJ
faba-177	273	7	information	information	NOUN
faba-177	273	8	.	.	PUNCT
faba-177	274	1	however	however	ADV
faba-177	274	2	,	,	PUNCT
faba-177	274	3	researchers	researcher	NOUN
faba-177	274	4	like	like	ADP
faba-177	274	5	estrin	estrin	NOUN
faba-177	274	6	et	et	PROPN
faba-177	274	7	al	al	PROPN
faba-177	274	8	.	.	PROPN
faba-177	275	1	(	(	PUNCT
faba-177	275	2	2018	2018	NUM
faba-177	275	3	)	)	PUNCT
faba-177	275	4	argue	argue	VERB
faba-177	275	5	that	that	SCONJ
faba-177	275	6	compliance	compliance	NOUN
faba-177	275	7	with	with	ADP
faba-177	275	8	external	external	ADJ
faba-177	275	9	regulation	regulation	NOUN
faba-177	275	10	alone	alone	ADV
faba-177	275	11	is	be	AUX
faba-177	275	12	insufficient	insufficient	ADJ
faba-177	275	13	for	for	ADP
faba-177	275	14	crowdfunding	crowdfunding	NOUN
faba-177	275	15	platforms	platform	NOUN
faba-177	275	16	,	,	PUNCT
faba-177	275	17	which	which	PRON
faba-177	275	18	also	also	ADV
faba-177	275	19	require	require	VERB
faba-177	275	20	robust	robust	ADJ
faba-177	275	21	internal	internal	ADJ
faba-177	275	22	governance	governance	NOUN
faba-177	275	23	and	and	CCONJ
faba-177	275	24	protections	protection	NOUN
faba-177	275	25	.	.	PUNCT
faba-177	276	1	this	this	PRON
faba-177	276	2	aligns	align	VERB
faba-177	276	3	with	with	ADP
faba-177	276	4	calls	call	NOUN
faba-177	276	5	for	for	SCONJ
faba-177	276	6	landx	landx	NOUN
faba-177	276	7	to	to	PART
faba-177	276	8	augment	augment	VERB
faba-177	276	9	transparency	transparency	NOUN
faba-177	276	10	and	and	CCONJ
faba-177	276	11	investor	investor	NOUN
faba-177	276	12	safeguards	safeguard	NOUN
faba-177	276	13	.	.	PUNCT
faba-177	277	1	conducting	conduct	VERB
faba-177	277	2	due	due	ADJ
faba-177	277	3	diligence	diligence	NOUN
faba-177	277	4	on	on	ADP
faba-177	277	5	issuers	issuer	NOUN
faba-177	277	6	fits	fit	VERB
faba-177	277	7	agency	agency	NOUN
faba-177	277	8	theory	theory	NOUN
faba-177	277	9	as	as	ADP
faba-177	277	10	a	a	DET
faba-177	277	11	governance	governance	NOUN
faba-177	277	12	approach	approach	NOUN
faba-177	277	13	to	to	ADP
faba-177	277	14	screen	screen	NOUN
faba-177	277	15	agents	agent	NOUN
faba-177	277	16	(	(	PUNCT
faba-177	277	17	micheler	micheler	NOUN
faba-177	277	18	and	and	CCONJ
faba-177	277	19	von	von	PROPN
faba-177	277	20	der	der	PROPN
faba-177	277	21	heyde	heyde	PROPN
faba-177	277	22	2016	2016	NUM
faba-177	277	23	)	)	PUNCT
faba-177	277	24	.	.	PUNCT
faba-177	278	1	but	but	CCONJ
faba-177	278	2	cumming	cumming	NOUN
faba-177	278	3	and	and	CCONJ
faba-177	278	4	johan	johan	PROPN
faba-177	278	5	(	(	PUNCT
faba-177	278	6	2013	2013	NUM
faba-177	278	7	)	)	PUNCT
faba-177	278	8	caution	caution	NOUN
faba-177	278	9	that	that	PRON
faba-177	278	10	platforms	platform	NOUN
faba-177	278	11	like	like	ADP
faba-177	278	12	landx	landx	ADJ
faba-177	278	13	face	face	NOUN
faba-177	278	14	conflicting	conflict	VERB
faba-177	278	15	dual	dual	ADJ
faba-177	278	16	roles	role	NOUN
faba-177	278	17	as	as	ADP
faba-177	278	18	agents	agent	NOUN
faba-177	278	19	of	of	ADP
faba-177	278	20	investors	investor	NOUN
faba-177	278	21	but	but	CCONJ
faba-177	278	22	also	also	ADV
faba-177	278	23	profit	profit	NOUN
faba-177	278	24	-	-	PUNCT
faba-177	278	25	seeking	seek	VERB
faba-177	278	26	principals	principal	NOUN
faba-177	278	27	,	,	PUNCT
faba-177	278	28	potentially	potentially	ADV
faba-177	278	29	incentivizing	incentivize	VERB
faba-177	278	30	lax	lax	ADJ
faba-177	278	31	due	due	ADJ
faba-177	278	32	diligence	diligence	NOUN
faba-177	278	33	to	to	PART
faba-177	278	34	grow	grow	VERB
faba-177	278	35	the	the	DET
faba-177	278	36	platform	platform	NOUN
faba-177	278	37	.	.	PUNCT
faba-177	279	1	more	more	ADJ
faba-177	279	2	transparency	transparency	NOUN
faba-177	279	3	on	on	ADP
faba-177	279	4	vetting	vetting	NOUN
faba-177	279	5	and	and	CCONJ
faba-177	279	6	rejection	rejection	NOUN
faba-177	279	7	rates	rate	NOUN
faba-177	279	8	could	could	AUX
faba-177	279	9	counteract	counteract	VERB
faba-177	279	10	this	this	PRON
faba-177	279	11	.	.	PUNCT
faba-177	280	1	information	information	NOUN
faba-177	280	2	transparency	transparency	NOUN
faba-177	280	3	corresponds	correspond	VERB
faba-177	280	4	to	to	ADP
faba-177	280	5	signals	signal	NOUN
faba-177	280	6	theory	theory	NOUN
faba-177	280	7	,	,	PUNCT
faba-177	280	8	whereby	whereby	SCONJ
faba-177	280	9	disclosures	disclosure	NOUN
faba-177	280	10	send	send	VERB
faba-177	280	11	positive	positive	ADJ
faba-177	280	12	signals	signal	NOUN
faba-177	280	13	reducing	reduce	VERB
faba-177	280	14	information	information	NOUN
faba-177	280	15	asymmetry	asymmetry	NOUN
faba-177	280	16	in	in	ADP
faba-177	280	17	markets	market	NOUN
faba-177	280	18	.	.	PUNCT
faba-177	281	1	however	however	ADV
faba-177	281	2	,	,	PUNCT
faba-177	281	3	kuti	kuti	PROPN
faba-177	281	4	and	and	CCONJ
faba-177	281	5	madarász	madarász	NOUN
faba-177	281	6	(	(	PUNCT
faba-177	281	7	2014	2014	NUM
faba-177	281	8	)	)	PUNCT
faba-177	281	9	argue	argue	VERB
faba-177	281	10	transparency	transparency	NOUN
faba-177	281	11	alone	alone	ADV
faba-177	281	12	lacks	lack	VERB
faba-177	281	13	value	value	NOUN
faba-177	281	14	without	without	ADP
faba-177	281	15	credible	credible	ADJ
faba-177	281	16	signals	signal	NOUN
faba-177	281	17	demonstrating	demonstrating	NOUN
faba-177	281	18	process	process	NOUN
faba-177	281	19	effectiveness	effectiveness	NOUN
faba-177	281	20	.	.	PUNCT
faba-177	282	1	landx	landx	PROPN
faba-177	282	2	should	should	AUX
faba-177	282	3	thus	thus	ADV
faba-177	282	4	supplement	supplement	VERB
faba-177	282	5	transparency	transparency	NOUN
faba-177	282	6	with	with	ADP
faba-177	282	7	data	datum	NOUN
faba-177	282	8	on	on	ADP
faba-177	282	9	due	due	ADJ
faba-177	282	10	diligence	diligence	NOUN
faba-177	282	11	and	and	CCONJ
faba-177	282	12	vetting	vetting	NOUN
faba-177	282	13	effectiveness	effectiveness	NOUN
faba-177	282	14	.	.	PUNCT
faba-177	283	1	by	by	ADP
faba-177	283	2	acting	act	VERB
faba-177	283	3	as	as	ADP
faba-177	283	4	an	an	DET
faba-177	283	5	intermediary	intermediary	NOUN
faba-177	283	6	,	,	PUNCT
faba-177	283	7	landx	landx	NOUN
faba-177	283	8	limits	limit	VERB
faba-177	283	9	its	its	PRON
faba-177	283	10	liability	liability	NOUN
faba-177	283	11	as	as	ADP
faba-177	283	12	an	an	DET
faba-177	283	13	agent	agent	NOUN
faba-177	283	14	through	through	ADP
faba-177	283	15	a	a	DET
faba-177	283	16	principal	principal	ADJ
faba-177	283	17	-	-	PUNCT
faba-177	283	18	agent	agent	NOUN
faba-177	283	19	relationship	relationship	NOUN
faba-177	283	20	directly	directly	ADV
faba-177	283	21	between	between	ADP
faba-177	283	22	investors	investor	NOUN
faba-177	283	23	and	and	CCONJ
faba-177	283	24	issuers	issuer	NOUN
faba-177	283	25	.	.	PUNCT
faba-177	284	1	this	this	PRON
faba-177	284	2	heeds	heed	VERB
faba-177	284	3	warnings	warning	NOUN
faba-177	284	4	in	in	ADP
faba-177	284	5	transaction	transaction	NOUN
faba-177	284	6	cost	cost	VERB
faba-177	284	7	economics	economic	NOUN
faba-177	284	8	around	around	ADP
faba-177	284	9	crowdfunding	crowdfunding	NOUN
faba-177	284	10	platforms	platform	NOUN
faba-177	284	11	taking	take	VERB
faba-177	284	12	on	on	ADP
faba-177	284	13	excessive	excessive	ADJ
faba-177	284	14	risks	risk	NOUN
faba-177	284	15	(	(	PUNCT
faba-177	284	16	mamonov	mamonov	NOUN
faba-177	284	17	and	and	CCONJ
faba-177	284	18	malaga	malaga	NOUN
faba-177	284	19	2020	2020	NUM
faba-177	284	20	)	)	PUNCT
faba-177	284	21	.	.	PUNCT
faba-177	285	1	but	but	CCONJ
faba-177	285	2	bradford	bradford	NOUN
faba-177	285	3	(	(	PUNCT
faba-177	285	4	2012	2012	NUM
faba-177	285	5	)	)	PUNCT
faba-177	285	6	cautions	caution	VERB
faba-177	285	7	that	that	SCONJ
faba-177	285	8	overly	overly	ADV
faba-177	285	9	passive	passive	ADJ
faba-177	285	10	intermediation	intermediation	NOUN
faba-177	285	11	fails	fail	VERB
faba-177	285	12	to	to	PART
faba-177	285	13	support	support	VERB
faba-177	285	14	unsophisticated	unsophisticated	ADJ
faba-177	285	15	investors	investor	NOUN
faba-177	285	16	.	.	PUNCT
faba-177	286	1	landx	landx	ADJ
faba-177	286	2	investor	investor	NOUN
faba-177	286	3	protections	protection	NOUN
faba-177	286	4	fit	fit	ADJ
faba-177	286	5	with	with	ADP
faba-177	286	6	fiduciary	fiduciary	ADJ
faba-177	286	7	duty	duty	NOUN
faba-177	286	8	theory	theory	NOUN
faba-177	286	9	whereby	whereby	SCONJ
faba-177	286	10	the	the	DET
faba-177	286	11	platform	platform	NOUN
faba-177	286	12	has	have	VERB
faba-177	286	13	ethical	ethical	ADJ
faba-177	286	14	responsibilities	responsibility	NOUN
faba-177	286	15	to	to	PART
faba-177	286	16	prioritize	prioritize	VERB
faba-177	286	17	users	user	NOUN
faba-177	286	18	’	'	PUNCT
faba-177	286	19	interests	interest	NOUN
faba-177	286	20	(	(	PUNCT
faba-177	286	21	lee	lee	PROPN
faba-177	286	22	et	et	PROPN
faba-177	286	23	al	al	PROPN
faba-177	286	24	.	.	PROPN
faba-177	286	25	2018	2018	NUM
faba-177	286	26	)	)	PUNCT
faba-177	286	27	.	.	PUNCT
faba-177	287	1	but	but	CCONJ
faba-177	287	2	estrin	estrin	NOUN
faba-177	287	3	et	et	PROPN
faba-177	287	4	al	al	PROPN
faba-177	287	5	.	.	PROPN
faba-177	288	1	(	(	PUNCT
faba-177	288	2	2018	2018	NUM
faba-177	288	3	)	)	PUNCT
faba-177	288	4	argue	argue	VERB
faba-177	288	5	protections	protection	NOUN
faba-177	288	6	may	may	AUX
faba-177	288	7	be	be	AUX
faba-177	288	8	inadequate	inadequate	ADJ
faba-177	288	9	to	to	PART
faba-177	288	10	compensate	compensate	VERB
faba-177	288	11	for	for	ADP
faba-177	288	12	information	information	NOUN
faba-177	288	13	and	and	CCONJ
faba-177	288	14	power	power	NOUN
faba-177	288	15	imbalances	imbalance	NOUN
faba-177	288	16	in	in	ADP
faba-177	288	17	crowdfunding	crowdfunding	NOUN
faba-177	288	18	.	.	PUNCT
faba-177	289	1	tighter	tight	ADJ
faba-177	289	2	governance	governance	NOUN
faba-177	289	3	over	over	ADP
faba-177	289	4	issuers	issuer	NOUN
faba-177	289	5	could	could	AUX
faba-177	289	6	improve	improve	VERB
faba-177	289	7	protections	protection	NOUN
faba-177	289	8	.	.	PUNCT
faba-177	290	1	landx	landx	PROPN
faba-177	290	2	's	's	PART
faba-177	290	3	proactive	proactive	ADJ
faba-177	290	4	self	self	NOUN
faba-177	290	5	-	-	PUNCT
faba-177	290	6	regulation	regulation	NOUN
faba-177	290	7	to	to	PART
faba-177	290	8	maintain	maintain	VERB
faba-177	290	9	high	high	ADJ
faba-177	290	10	standards	standard	NOUN
faba-177	290	11	despite	despite	SCONJ
faba-177	290	12	ambiguities	ambiguity	NOUN
faba-177	290	13	in	in	ADP
faba-177	290	14	the	the	DET
faba-177	290	15	nascent	nascent	ADJ
faba-177	290	16	regulatory	regulatory	ADJ
faba-177	290	17	environment	environment	NOUN
faba-177	290	18	aligns	align	VERB
faba-177	290	19	with	with	ADP
faba-177	290	20	legitimacy	legitimacy	NOUN
faba-177	290	21	theory	theory	NOUN
faba-177	290	22	.	.	PUNCT
faba-177	291	1	legitimacy	legitimacy	NOUN
faba-177	291	2	is	be	AUX
faba-177	291	3	invaluable	invaluable	ADJ
faba-177	291	4	for	for	ADP
faba-177	291	5	pioneering	pioneer	VERB
faba-177	291	6	sectors	sector	NOUN
faba-177	291	7	seeking	seek	VERB
faba-177	291	8	to	to	PART
faba-177	291	9	establish	establish	VERB
faba-177	291	10	credibility	credibility	NOUN
faba-177	291	11	.	.	PUNCT
faba-177	292	1	hence	hence	ADV
faba-177	292	2	,	,	PUNCT
faba-177	292	3	platforms	platform	NOUN
faba-177	292	4	like	like	ADP
faba-177	292	5	landx	landx	PROPN
faba-177	292	6	institute	institute	PROPN
faba-177	292	7	strong	strong	ADJ
faba-177	292	8	investor	investor	NOUN
faba-177	292	9	protections	protection	NOUN
faba-177	292	10	like	like	ADP
faba-177	292	11	transparency	transparency	NOUN
faba-177	292	12	,	,	PUNCT
faba-177	292	13	reporting	report	VERB
faba-177	292	14	enforcement	enforcement	NOUN
faba-177	292	15	,	,	PUNCT
faba-177	292	16	and	and	CCONJ
faba-177	292	17	contractual	contractual	ADJ
faba-177	292	18	issuer	issuer	NOUN
faba-177	292	19	obligations	obligation	NOUN
faba-177	292	20	despite	despite	SCONJ
faba-177	292	21	lack	lack	NOUN
faba-177	292	22	of	of	ADP
faba-177	292	23	explicit	explicit	ADJ
faba-177	292	24	directives	directive	NOUN
faba-177	292	25	.	.	PUNCT
faba-177	293	1	sanjaya	sanjaya	PROPN
faba-177	293	2	and	and	CCONJ
faba-177	293	3	koesrindartoto	koesrindartoto	PROPN
faba-177	293	4	/	/	SYM
faba-177	293	5	finance	finance	NOUN
faba-177	293	6	,	,	PUNCT
faba-177	293	7	accounting	accounting	NOUN
faba-177	293	8	and	and	CCONJ
faba-177	293	9	business	business	NOUN
faba-177	293	10	analysis	analysis	NOUN
faba-177	293	11	,	,	PUNCT
faba-177	293	12	volume	volume	NOUN
faba-177	293	13	5	5	NUM
faba-177	293	14	,	,	PUNCT
faba-177	293	15	issue	issue	NOUN
faba-177	293	16	2	2	NUM
faba-177	293	17	,	,	PUNCT
faba-177	293	18	2023	2023	NUM
faba-177	293	19	182	182	NUM
faba-177	293	20	landx	landx	NOUN
faba-177	293	21	's	's	PART
faba-177	293	22	attempts	attempt	NOUN
faba-177	293	23	to	to	PART
faba-177	293	24	compensate	compensate	VERB
faba-177	293	25	for	for	ADP
faba-177	293	26	the	the	DET
faba-177	293	27	lack	lack	NOUN
faba-177	293	28	of	of	ADP
faba-177	293	29	mandated	mandate	VERB
faba-177	293	30	financial	financial	ADJ
faba-177	293	31	disclosures	disclosure	NOUN
faba-177	293	32	expected	expect	VERB
faba-177	293	33	of	of	ADP
faba-177	293	34	public	public	ADJ
faba-177	293	35	companies	company	NOUN
faba-177	293	36	remain	remain	VERB
faba-177	293	37	contingent	contingent	ADJ
faba-177	293	38	on	on	ADP
faba-177	293	39	issuer	issuer	ADJ
faba-177	293	40	cooperation	cooperation	NOUN
faba-177	293	41	.	.	PUNCT
faba-177	294	1	their	their	PRON
faba-177	294	2	enforcement	enforcement	NOUN
faba-177	294	3	abilities	ability	NOUN
faba-177	294	4	also	also	ADV
faba-177	294	5	require	require	VERB
faba-177	294	6	regulatory	regulatory	ADJ
faba-177	294	7	expansion	expansion	NOUN
faba-177	294	8	,	,	PUNCT
faba-177	294	9	highlighting	highlight	VERB
faba-177	294	10	that	that	DET
faba-177	294	11	legitimacy	legitimacy	NOUN
faba-177	294	12	alone	alone	ADV
faba-177	294	13	can	can	AUX
faba-177	294	14	not	not	PART
faba-177	294	15	compensate	compensate	VERB
faba-177	294	16	for	for	ADP
faba-177	294	17	oversight	oversight	NOUN
faba-177	294	18	gaps	gap	NOUN
faba-177	294	19	as	as	ADP
faba-177	294	20	industries	industry	NOUN
faba-177	294	21	scale	scale	NOUN
faba-177	294	22	.	.	PUNCT
faba-177	295	1	landx	landx	PROPN
faba-177	295	2	's	's	PART
faba-177	295	3	collaboration	collaboration	NOUN
faba-177	295	4	with	with	ADP
faba-177	295	5	industry	industry	NOUN
faba-177	295	6	associations	association	NOUN
faba-177	295	7	in	in	ADP
faba-177	295	8	advocating	advocate	VERB
faba-177	295	9	enhanced	enhanced	ADJ
faba-177	295	10	platform	platform	NOUN
faba-177	295	11	governance	governance	NOUN
faba-177	295	12	provisions	provision	NOUN
faba-177	295	13	aligns	align	VERB
faba-177	295	14	with	with	ADP
faba-177	295	15	this	this	DET
faba-177	295	16	view	view	NOUN
faba-177	295	17	.	.	PUNCT
faba-177	296	1	regulator	regulator	NOUN
faba-177	296	2	endorsement	endorsement	NOUN
faba-177	296	3	can	can	AUX
faba-177	296	4	also	also	ADV
faba-177	296	5	influence	influence	VERB
faba-177	296	6	public	public	ADJ
faba-177	296	7	adoption	adoption	NOUN
faba-177	296	8	by	by	ADP
faba-177	296	9	signaling	signal	VERB
faba-177	296	10	legitimacy	legitimacy	NOUN
faba-177	296	11	(	(	PUNCT
faba-177	296	12	bretschneider	bretschneider	PROPN
faba-177	296	13	et	et	PROPN
faba-177	296	14	al	al	PROPN
faba-177	296	15	.	.	PROPN
faba-177	296	16	2014	2014	NUM
faba-177	296	17	)	)	PUNCT
faba-177	296	18	.	.	PUNCT
faba-177	297	1	overall	overall	ADV
faba-177	297	2	,	,	PUNCT
faba-177	297	3	the	the	DET
faba-177	297	4	findings	finding	NOUN
faba-177	297	5	emphasize	emphasize	VERB
faba-177	297	6	that	that	SCONJ
faba-177	297	7	long	long	ADJ
faba-177	297	8	-	-	PUNCT
faba-177	297	9	term	term	NOUN
faba-177	297	10	equity	equity	NOUN
faba-177	297	11	crowdfunding	crowdfunding	NOUN
faba-177	297	12	sustainability	sustainability	NOUN
faba-177	297	13	necessitates	necessitate	VERB
faba-177	297	14	updated	update	VERB
faba-177	297	15	regulations	regulation	NOUN
faba-177	297	16	commensurate	commensurate	ADJ
faba-177	297	17	with	with	ADP
faba-177	297	18	the	the	DET
faba-177	297	19	industry	industry	NOUN
faba-177	297	20	's	's	PART
faba-177	297	21	growth	growth	NOUN
faba-177	297	22	.	.	PUNCT
faba-177	298	1	as	as	SCONJ
faba-177	298	2	malaysian	malaysian	ADJ
faba-177	298	3	reforms	reform	NOUN
faba-177	298	4	indicate	indicate	VERB
faba-177	298	5	,	,	PUNCT
faba-177	298	6	investor	investor	NOUN
faba-177	298	7	protection	protection	NOUN
faba-177	298	8	mechanisms	mechanism	NOUN
faba-177	298	9	like	like	ADP
faba-177	298	10	platform	platform	NOUN
faba-177	298	11	compensation	compensation	NOUN
faba-177	298	12	funds	fund	NOUN
faba-177	298	13	and	and	CCONJ
faba-177	298	14	dispute	dispute	NOUN
faba-177	298	15	resolution	resolution	NOUN
faba-177	298	16	pathways	pathway	NOUN
faba-177	298	17	are	be	AUX
faba-177	298	18	critical	critical	ADJ
faba-177	298	19	developments	development	NOUN
faba-177	298	20	on	on	ADP
faba-177	298	21	the	the	DET
faba-177	298	22	horizon	horizon	NOUN
faba-177	298	23	(	(	PUNCT
faba-177	298	24	yong	yong	PROPN
faba-177	298	25	2020	2020	NUM
faba-177	298	26	)	)	PUNCT
faba-177	298	27	.	.	PUNCT
faba-177	299	1	the	the	DET
faba-177	299	2	examination	examination	NOUN
faba-177	299	3	of	of	ADP
faba-177	299	4	landx	landx	PROPN
faba-177	299	5	's	's	PART
faba-177	299	6	governance	governance	NOUN
faba-177	299	7	and	and	CCONJ
faba-177	299	8	risk	risk	NOUN
faba-177	299	9	management	management	NOUN
faba-177	299	10	practices	practice	NOUN
faba-177	299	11	in	in	ADP
faba-177	299	12	this	this	DET
faba-177	299	13	section	section	NOUN
faba-177	299	14	reveals	reveal	VERB
faba-177	299	15	a	a	DET
faba-177	299	16	platform	platform	NOUN
faba-177	299	17	seeking	seek	VERB
faba-177	299	18	to	to	PART
faba-177	299	19	implement	implement	VERB
faba-177	299	20	prudent	prudent	ADJ
faba-177	299	21	investor	investor	NOUN
faba-177	299	22	protections	protection	NOUN
faba-177	299	23	despite	despite	SCONJ
faba-177	299	24	inherent	inherent	ADJ
faba-177	299	25	structural	structural	ADJ
faba-177	299	26	constraints	constraint	NOUN
faba-177	299	27	in	in	ADP
faba-177	299	28	crowdfunding	crowdfunding	NOUN
faba-177	299	29	markets	market	NOUN
faba-177	299	30	.	.	PUNCT
faba-177	300	1	the	the	DET
faba-177	300	2	findings	finding	NOUN
faba-177	300	3	emphasize	emphasize	VERB
faba-177	300	4	that	that	SCONJ
faba-177	300	5	long	long	ADJ
faba-177	300	6	-	-	PUNCT
faba-177	300	7	term	term	NOUN
faba-177	300	8	equity	equity	NOUN
faba-177	300	9	crowdfunding	crowdfunding	NOUN
faba-177	300	10	sustainability	sustainability	NOUN
faba-177	300	11	necessitates	necessitate	VERB
faba-177	300	12	updated	update	VERB
faba-177	300	13	regulations	regulation	NOUN
faba-177	300	14	commensurate	commensurate	ADJ
faba-177	300	15	with	with	ADP
faba-177	300	16	the	the	DET
faba-177	300	17	industry	industry	NOUN
faba-177	300	18	's	's	PART
faba-177	300	19	growth	growth	NOUN
faba-177	300	20	.	.	PUNCT
faba-177	301	1	as	as	SCONJ
faba-177	301	2	malaysian	malaysian	ADJ
faba-177	301	3	reforms	reform	NOUN
faba-177	301	4	indicate	indicate	VERB
faba-177	301	5	,	,	PUNCT
faba-177	301	6	investor	investor	NOUN
faba-177	301	7	protection	protection	NOUN
faba-177	301	8	mechanisms	mechanism	NOUN
faba-177	301	9	like	like	ADP
faba-177	301	10	platform	platform	NOUN
faba-177	301	11	compensation	compensation	NOUN
faba-177	301	12	funds	fund	NOUN
faba-177	301	13	and	and	CCONJ
faba-177	301	14	dispute	dispute	NOUN
faba-177	301	15	resolution	resolution	NOUN
faba-177	301	16	pathways	pathway	NOUN
faba-177	301	17	are	be	AUX
faba-177	301	18	critical	critical	ADJ
faba-177	301	19	developments	development	NOUN
faba-177	301	20	on	on	ADP
faba-177	301	21	the	the	DET
faba-177	301	22	horizon	horizon	NOUN
faba-177	301	23	(	(	PUNCT
faba-177	301	24	yong	yong	PROPN
faba-177	301	25	2020	2020	NUM
faba-177	301	26	)	)	PUNCT
faba-177	301	27	.	.	PUNCT
faba-177	302	1	table	table	NOUN
faba-177	302	2	2	2	NUM
faba-177	302	3	.	.	PUNCT
faba-177	302	4	landx	landx	ADJ
faba-177	302	5	self	self	NOUN
faba-177	302	6	-	-	PUNCT
faba-177	302	7	regulation	regulation	NOUN
faba-177	302	8	practices	practice	NOUN
faba-177	302	9	category	category	NOUN
faba-177	302	10	provisions	provision	NOUN
faba-177	302	11	followed	follow	VERB
faba-177	302	12	reporting	report	VERB
faba-177	302	13	frequent	frequent	ADJ
faba-177	302	14	issuer	issuer	NOUN
faba-177	302	15	reporting	reporting	NOUN
faba-177	302	16	and	and	CCONJ
faba-177	302	17	dividend	dividend	NOUN
faba-177	302	18	updates	update	VERB
faba-177	302	19	accountability	accountability	NOUN
faba-177	302	20	buyback	buyback	NOUN
faba-177	302	21	guarantees	guarantee	NOUN
faba-177	302	22	in	in	ADP
faba-177	302	23	issuer	issuer	ADJ
faba-177	302	24	contracts	contract	NOUN
faba-177	302	25	monitoring	monitor	VERB
faba-177	302	26	integrated	integrate	VERB
faba-177	302	27	pos	pos	NOUN
faba-177	302	28	systems	system	NOUN
faba-177	302	29	for	for	ADP
faba-177	302	30	income	income	NOUN
faba-177	302	31	visibility	visibility	NOUN
faba-177	302	32	rights	right	VERB
faba-177	302	33	secondary	secondary	ADJ
faba-177	302	34	markets	market	NOUN
faba-177	302	35	and	and	CCONJ
faba-177	302	36	rights	right	NOUN
faba-177	302	37	issues	issue	NOUN
faba-177	302	38	management	management	NOUN
faba-177	302	39	system	system	NOUN
faba-177	302	40	number	number	NOUN
faba-177	302	41	of	of	ADP
faba-177	302	42	branch	branch	NOUN
faba-177	302	43	/	/	SYM
faba-177	302	44	outlet	outlet	NOUN
faba-177	302	45	source	source	NOUN
faba-177	302	46	:	:	PUNCT
faba-177	302	47	landx	landx	ADJ
faba-177	302	48	document	document	NOUN
faba-177	302	49	landx	landx	PROPN
faba-177	302	50	implements	implement	VERB
faba-177	302	51	transparency	transparency	NOUN
faba-177	302	52	,	,	PUNCT
faba-177	302	53	accountability	accountability	NOUN
faba-177	302	54	,	,	PUNCT
faba-177	302	55	oversight	oversight	NOUN
faba-177	302	56	,	,	PUNCT
faba-177	302	57	and	and	CCONJ
faba-177	302	58	investor	investor	NOUN
faba-177	302	59	protection	protection	NOUN
faba-177	302	60	mechanisms	mechanism	NOUN
faba-177	302	61	exceeding	exceed	VERB
faba-177	302	62	minimal	minimal	ADJ
faba-177	302	63	compliance	compliance	NOUN
faba-177	302	64	requirements	requirement	NOUN
faba-177	302	65	.	.	PUNCT
faba-177	303	1	landx	landx	PROPN
faba-177	303	2	's	's	PART
faba-177	303	3	multifaceted	multifaceted	ADJ
faba-177	303	4	strategy	strategy	NOUN
faba-177	303	5	encompasses	encompass	VERB
faba-177	303	6	compliance	compliance	NOUN
faba-177	303	7	,	,	PUNCT
faba-177	303	8	due	due	ADJ
faba-177	303	9	diligence	diligence	NOUN
faba-177	303	10	,	,	PUNCT
faba-177	303	11	transparency	transparency	NOUN
faba-177	303	12	,	,	PUNCT
faba-177	303	13	liability	liability	NOUN
faba-177	303	14	minimization	minimization	NOUN
faba-177	303	15	,	,	PUNCT
faba-177	303	16	and	and	CCONJ
faba-177	303	17	investor	investor	NOUN
faba-177	303	18	protections	protection	NOUN
faba-177	303	19	.	.	PUNCT
faba-177	304	1	this	this	DET
faba-177	304	2	showcases	showcase	NOUN
faba-177	304	3	navigating	navigate	VERB
faba-177	304	4	inherent	inherent	ADJ
faba-177	304	5	structural	structural	ADJ
faba-177	304	6	constraints	constraint	NOUN
faba-177	304	7	in	in	ADP
faba-177	304	8	crowdfunding	crowdfunde	VERB
faba-177	304	9	through	through	ADP
faba-177	304	10	a	a	DET
faba-177	304	11	mix	mix	NOUN
faba-177	304	12	of	of	ADP
faba-177	304	13	formal	formal	ADJ
faba-177	304	14	regulation	regulation	NOUN
faba-177	304	15	and	and	CCONJ
faba-177	304	16	proactive	proactive	ADJ
faba-177	304	17	self	self	NOUN
faba-177	304	18	-	-	PUNCT
faba-177	304	19	governance	governance	NOUN
faba-177	304	20	.	.	PUNCT
faba-177	305	1	but	but	CCONJ
faba-177	305	2	findings	finding	NOUN
faba-177	305	3	imply	imply	VERB
faba-177	305	4	long	long	ADJ
faba-177	305	5	-	-	PUNCT
faba-177	305	6	term	term	NOUN
faba-177	305	7	equity	equity	NOUN
faba-177	305	8	crowdfunding	crowdfunding	NOUN
faba-177	305	9	viability	viability	NOUN
faba-177	305	10	necessitates	necessitate	VERB
faba-177	305	11	upgraded	upgrade	VERB
faba-177	305	12	policies	policy	NOUN
faba-177	305	13	equipping	equipping	NOUN
faba-177	305	14	platforms	platform	NOUN
faba-177	305	15	with	with	ADP
faba-177	305	16	oversight	oversight	NOUN
faba-177	305	17	capabilities	capability	NOUN
faba-177	305	18	matching	match	VERB
faba-177	305	19	the	the	DET
faba-177	305	20	sector	sector	NOUN
faba-177	305	21	's	's	PART
faba-177	305	22	expansion	expansion	NOUN
faba-177	305	23	.	.	PUNCT
faba-177	306	1	landx	landx	PROPN
faba-177	306	2	's	's	PART
faba-177	306	3	collaboration	collaboration	NOUN
faba-177	306	4	with	with	ADP
faba-177	306	5	industry	industry	NOUN
faba-177	306	6	groups	group	NOUN
faba-177	306	7	to	to	PART
faba-177	306	8	advocate	advocate	VERB
faba-177	306	9	expanded	expand	VERB
faba-177	306	10	provisions	provision	NOUN
faba-177	306	11	emphasizes	emphasize	VERB
faba-177	306	12	this	this	DET
faba-177	306	13	imperative	imperative	NOUN
faba-177	306	14	.	.	PUNCT
faba-177	307	1	business	business	NOUN
faba-177	307	2	outcomes	outcome	NOUN
faba-177	307	3	for	for	ADP
faba-177	307	4	issuers	issuer	NOUN
faba-177	307	5	the	the	DET
faba-177	307	6	study	study	NOUN
faba-177	307	7	yielded	yield	VERB
faba-177	307	8	qualitative	qualitative	ADJ
faba-177	307	9	evidence	evidence	NOUN
faba-177	307	10	that	that	PRON
faba-177	307	11	landx	landx	NOUN
faba-177	307	12	provides	provide	VERB
faba-177	307	13	growth	growth	NOUN
faba-177	307	14	capital	capital	NOUN
faba-177	307	15	enabling	enable	VERB
faba-177	307	16	issuers	issuer	NOUN
faba-177	307	17	to	to	PART
faba-177	307	18	accelerate	accelerate	VERB
faba-177	307	19	expansion	expansion	NOUN
faba-177	307	20	.	.	PUNCT
faba-177	308	1	manager	manager	NOUN
faba-177	308	2	interviews	interview	NOUN
faba-177	308	3	cited	cite	VERB
faba-177	308	4	examples	example	NOUN
faba-177	308	5	of	of	ADP
faba-177	308	6	issuers	issuer	NOUN
faba-177	308	7	doubling	double	VERB
faba-177	308	8	outlet	outlet	NOUN
faba-177	308	9	numbers	number	NOUN
faba-177	308	10	,	,	PUNCT
faba-177	308	11	entering	enter	VERB
faba-177	308	12	new	new	ADJ
faba-177	308	13	locations	location	NOUN
faba-177	308	14	,	,	PUNCT
faba-177	308	15	and	and	CCONJ
faba-177	308	16	launching	launch	VERB
faba-177	308	17	products	product	NOUN
faba-177	308	18	after	after	ADP
faba-177	308	19	raising	raise	VERB
faba-177	308	20	funds	fund	NOUN
faba-177	308	21	on	on	ADP
faba-177	308	22	landx	landx	PROPN
faba-177	308	23	.	.	PUNCT
faba-177	308	24	crowdfunded	crowdfunde	VERB
faba-177	308	25	growth	growth	NOUN
faba-177	308	26	capital	capital	NOUN
faba-177	308	27	is	be	AUX
faba-177	308	28	often	often	ADV
faba-177	308	29	faster	fast	ADJ
faba-177	308	30	and	and	CCONJ
faba-177	308	31	more	more	ADV
faba-177	308	32	flexible	flexible	ADJ
faba-177	308	33	than	than	ADP
faba-177	308	34	traditional	traditional	ADJ
faba-177	308	35	bank	bank	NOUN
faba-177	308	36	financing	financing	NOUN
faba-177	308	37	.	.	PUNCT
faba-177	309	1	the	the	DET
faba-177	309	2	business	business	NOUN
faba-177	309	3	growth	growth	NOUN
faba-177	309	4	and	and	CCONJ
faba-177	309	5	accelerated	accelerate	VERB
faba-177	309	6	expansion	expansion	NOUN
faba-177	309	7	achieved	achieve	VERB
faba-177	309	8	by	by	ADP
faba-177	309	9	issuers	issuer	NOUN
faba-177	309	10	after	after	ADP
faba-177	309	11	raising	raise	VERB
faba-177	309	12	capital	capital	NOUN
faba-177	309	13	on	on	ADP
faba-177	309	14	landx	landx	ADJ
faba-177	309	15	demonstrates	demonstrate	VERB
faba-177	309	16	equity	equity	NOUN
faba-177	309	17	crowdfunding	crowdfunding	NOUN
faba-177	309	18	's	's	PART
faba-177	309	19	role	role	NOUN
faba-177	309	20	as	as	ADP
faba-177	309	21	an	an	DET
faba-177	309	22	enabler	enabler	NOUN
faba-177	309	23	of	of	ADP
faba-177	309	24	entrepreneurial	entrepreneurial	ADJ
faba-177	309	25	potential	potential	NOUN
faba-177	309	26	.	.	PUNCT
faba-177	310	1	the	the	DET
faba-177	310	2	qualitative	qualitative	ADJ
faba-177	310	3	findings	finding	NOUN
faba-177	310	4	suggest	suggest	VERB
faba-177	310	5	crowdfunding	crowdfunding	NOUN
faba-177	310	6	enables	enable	VERB
faba-177	310	7	progress	progress	NOUN
faba-177	310	8	for	for	ADP
faba-177	310	9	issuers	issuer	NOUN
faba-177	310	10	,	,	PUNCT
faba-177	310	11	consistent	consistent	ADJ
faba-177	310	12	with	with	ADP
faba-177	310	13	studies	study	NOUN
faba-177	310	14	showing	show	VERB
faba-177	310	15	access	access	NOUN
faba-177	310	16	to	to	ADP
faba-177	310	17	resources	resource	NOUN
faba-177	310	18	promotes	promote	VERB
faba-177	310	19	viability	viability	NOUN
faba-177	310	20	for	for	ADP
faba-177	310	21	enterprises	enterprise	NOUN
faba-177	310	22	(	(	PUNCT
faba-177	310	23	vismara	vismara	NOUN
faba-177	310	24	2021	2021	NUM
faba-177	310	25	)	)	PUNCT
faba-177	310	26	.	.	PUNCT
faba-177	311	1	tangible	tangible	ADJ
faba-177	311	2	examples	example	NOUN
faba-177	311	3	of	of	ADP
faba-177	311	4	business	business	NOUN
faba-177	311	5	model	model	NOUN
faba-177	311	6	validation	validation	NOUN
faba-177	311	7	,	,	PUNCT
faba-177	311	8	outlet	outlet	NOUN
faba-177	311	9	growth	growth	NOUN
faba-177	311	10	,	,	PUNCT
faba-177	311	11	and	and	CCONJ
faba-177	311	12	product	product	NOUN
faba-177	311	13	launch	launch	NOUN
faba-177	311	14	point	point	NOUN
faba-177	311	15	to	to	ADP
faba-177	311	16	realizable	realizable	ADJ
faba-177	311	17	benefits	benefit	NOUN
faba-177	311	18	beyond	beyond	ADP
faba-177	311	19	anecdotal	anecdotal	ADJ
faba-177	311	20	claims	claim	NOUN
faba-177	311	21	.	.	PUNCT
faba-177	312	1	this	this	PRON
faba-177	312	2	aligns	align	VERB
faba-177	312	3	with	with	ADP
faba-177	312	4	the	the	DET
faba-177	312	5	value	value	NOUN
faba-177	312	6	proposition	proposition	NOUN
faba-177	312	7	of	of	ADP
faba-177	312	8	crowdfunding	crowdfunde	VERB
faba-177	312	9	in	in	ADP
faba-177	312	10	filling	fill	VERB
faba-177	312	11	early	early	ADJ
faba-177	312	12	-	-	PUNCT
faba-177	312	13	stage	stage	NOUN
faba-177	312	14	capital	capital	NOUN
faba-177	312	15	gaps	gap	NOUN
faba-177	312	16	.	.	PUNCT
faba-177	313	1	beyond	beyond	ADP
faba-177	313	2	financing	financing	NOUN
faba-177	313	3	,	,	PUNCT
faba-177	313	4	crowdfunding	crowdfunding	NOUN
faba-177	313	5	provides	provide	VERB
faba-177	313	6	strategic	strategic	ADJ
faba-177	313	7	resources	resource	NOUN
faba-177	313	8	like	like	ADP
faba-177	313	9	networks	network	NOUN
faba-177	313	10	,	,	PUNCT
faba-177	313	11	visibility	visibility	NOUN
faba-177	313	12	,	,	PUNCT
faba-177	313	13	market	market	NOUN
faba-177	313	14	feedback	feedback	NOUN
faba-177	313	15	,	,	PUNCT
faba-177	313	16	and	and	CCONJ
faba-177	313	17	mentorship	mentorship	NOUN
faba-177	313	18	that	that	SCONJ
faba-177	313	19	nascent	nascent	ADJ
faba-177	313	20	ventures	venture	NOUN
faba-177	313	21	typically	typically	ADV
faba-177	313	22	lack	lack	VERB
faba-177	313	23	(	(	PUNCT
faba-177	313	24	schwienbacher	schwienbacher	NOUN
faba-177	313	25	and	and	CCONJ
faba-177	313	26	larralde	larralde	ADJ
faba-177	313	27	2012	2012	NUM
faba-177	313	28	)	)	PUNCT
faba-177	313	29	.	.	PUNCT
faba-177	314	1	landx	landx	PROPN
faba-177	314	2	's	's	PART
faba-177	314	3	involvement	involvement	NOUN
faba-177	314	4	in	in	ADP
faba-177	314	5	issuer	issuer	ADJ
faba-177	314	6	marketing	marketing	NOUN
faba-177	314	7	,	,	PUNCT
faba-177	314	8	performance	performance	NOUN
faba-177	314	9	monitoring	monitoring	NOUN
faba-177	314	10	,	,	PUNCT
faba-177	314	11	and	and	CCONJ
faba-177	314	12	guidance	guidance	NOUN
faba-177	314	13	on	on	ADP
faba-177	314	14	financial	financial	ADJ
faba-177	314	15	reporting	reporting	NOUN
faba-177	314	16	exemplifies	exemplify	VERB
faba-177	314	17	this	this	DET
faba-177	314	18	resource	resource	NOUN
faba-177	314	19	provision	provision	NOUN
faba-177	314	20	role	role	NOUN
faba-177	314	21	.	.	PUNCT
faba-177	315	1	access	access	NOUN
faba-177	315	2	to	to	ADP
faba-177	315	3	such	such	ADJ
faba-177	315	4	scarce	scarce	ADJ
faba-177	315	5	capabilities	capability	NOUN
faba-177	315	6	creates	create	VERB
faba-177	315	7	value	value	NOUN
faba-177	315	8	propositions	proposition	NOUN
faba-177	315	9	appealing	appeal	VERB
faba-177	315	10	to	to	ADP
faba-177	315	11	entrepreneurs	entrepreneur	NOUN
faba-177	315	12	.	.	PUNCT
faba-177	316	1	however	however	ADV
faba-177	316	2	,	,	PUNCT
faba-177	316	3	founders	founder	NOUN
faba-177	316	4	require	require	VERB
faba-177	316	5	absorptive	absorptive	ADJ
faba-177	316	6	capacity	capacity	NOUN
faba-177	316	7	to	to	PART
faba-177	316	8	leverage	leverage	VERB
faba-177	316	9	platform	platform	NOUN
faba-177	316	10	resources	resource	NOUN
faba-177	316	11	effectively	effectively	ADV
faba-177	316	12	,	,	PUNCT
faba-177	316	13	as	as	SCONJ
faba-177	316	14	highlighted	highlight	VERB
faba-177	316	15	in	in	ADP
faba-177	316	16	extant	extant	ADJ
faba-177	316	17	crowdfunding	crowdfunding	NOUN
faba-177	316	18	research	research	NOUN
faba-177	316	19	(	(	PUNCT
faba-177	316	20	colombo	colombo	NOUN
faba-177	316	21	et	et	NOUN
faba-177	316	22	al	al	PROPN
faba-177	316	23	.	.	PROPN
faba-177	316	24	2015	2015	NUM
faba-177	316	25	)	)	PUNCT
faba-177	316	26	.	.	PUNCT
faba-177	317	1	visibility	visibility	NOUN
faba-177	317	2	transforms	transform	VERB
faba-177	317	3	into	into	ADP
faba-177	317	4	increased	increase	VERB
faba-177	317	5	sales	sale	NOUN
faba-177	317	6	only	only	ADV
faba-177	317	7	when	when	SCONJ
faba-177	317	8	operational	operational	ADJ
faba-177	317	9	capabilities	capability	NOUN
faba-177	317	10	exist	exist	VERB
faba-177	317	11	to	to	PART
faba-177	317	12	handle	handle	VERB
faba-177	317	13	demand	demand	NOUN
faba-177	317	14	.	.	PUNCT
faba-177	318	1	as	as	ADP
faba-177	318	2	landx	landx	PROPN
faba-177	318	3	's	's	PART
faba-177	318	4	experience	experience	NOUN
faba-177	318	5	shows	show	NOUN
faba-177	318	6	,	,	PUNCT
faba-177	318	7	variability	variability	NOUN
faba-177	318	8	in	in	ADP
faba-177	318	9	returns	return	NOUN
faba-177	318	10	despite	despite	SCONJ
faba-177	318	11	standard	standard	ADJ
faba-177	318	12	resource	resource	NOUN
faba-177	318	13	access	access	NOUN
faba-177	318	14	points	point	NOUN
faba-177	318	15	to	to	ADP
faba-177	318	16	the	the	DET
faba-177	318	17	criticality	criticality	NOUN
faba-177	318	18	of	of	ADP
faba-177	318	19	internal	internal	ADJ
faba-177	318	20	entrepreneurial	entrepreneurial	ADJ
faba-177	318	21	competencies	competency	NOUN
faba-177	318	22	in	in	ADP
faba-177	318	23	harnessing	harness	VERB
faba-177	318	24	the	the	DET
faba-177	318	25	potential	potential	NOUN
faba-177	318	26	.	.	PUNCT
faba-177	319	1	crowdfunding	crowdfunde	VERB
faba-177	319	2	success	success	NOUN
faba-177	319	3	entails	entail	VERB
faba-177	319	4	a	a	DET
faba-177	319	5	three	three	NUM
faba-177	319	6	-	-	PUNCT
faba-177	319	7	way	way	NOUN
faba-177	319	8	fit	fit	NOUN
faba-177	319	9	between	between	ADP
faba-177	319	10	investor	investor	NOUN
faba-177	319	11	capital	capital	NOUN
faba-177	319	12	,	,	PUNCT
faba-177	319	13	platform	platform	NOUN
faba-177	319	14	resources	resource	NOUN
faba-177	319	15	,	,	PUNCT
faba-177	319	16	and	and	CCONJ
faba-177	319	17	issuer	issuer	ADJ
faba-177	319	18	execution	execution	NOUN
faba-177	319	19	.	.	PUNCT
faba-177	320	1	monitoring	monitor	VERB
faba-177	320	2	mechanisms	mechanism	NOUN
faba-177	320	3	address	address	VERB
faba-177	320	4	information	information	NOUN
faba-177	320	5	gaps	gap	NOUN
faba-177	320	6	for	for	ADP
faba-177	320	7	investors	investor	NOUN
faba-177	320	8	but	but	CCONJ
faba-177	320	9	can	can	AUX
faba-177	320	10	not	not	PART
faba-177	320	11	compensate	compensate	VERB
faba-177	320	12	for	for	ADP
faba-177	320	13	weaknesses	weakness	NOUN
faba-177	320	14	in	in	ADP
faba-177	320	15	entrepreneurial	entrepreneurial	ADJ
faba-177	320	16	capabilities	capability	NOUN
faba-177	320	17	.	.	PUNCT
faba-177	321	1	sanjaya	sanjaya	PROPN
faba-177	321	2	and	and	CCONJ
faba-177	321	3	koesrindartoto	koesrindartoto	PROPN
faba-177	321	4	/	/	SYM
faba-177	321	5	finance	finance	NOUN
faba-177	321	6	,	,	PUNCT
faba-177	321	7	accounting	accounting	NOUN
faba-177	321	8	and	and	CCONJ
faba-177	321	9	business	business	NOUN
faba-177	321	10	analysis	analysis	NOUN
faba-177	321	11	,	,	PUNCT
faba-177	321	12	volume	volume	NOUN
faba-177	321	13	5	5	NUM
faba-177	321	14	,	,	PUNCT
faba-177	321	15	issue	issue	NOUN
faba-177	321	16	2	2	NUM
faba-177	321	17	,	,	PUNCT
faba-177	321	18	2023	2023	NUM
faba-177	321	19	183	183	NUM
faba-177	321	20	as	as	ADP
faba-177	321	21	the	the	DET
faba-177	321	22	case	case	NOUN
faba-177	321	23	from	from	ADP
faba-177	321	24	business	business	NOUN
faba-177	321	25	project	project	NOUN
faba-177	321	26	report	report	NOUN
faba-177	321	27	,	,	PUNCT
faba-177	321	28	the	the	DET
faba-177	321	29	financial	financial	ADJ
faba-177	321	30	statements	statement	NOUN
faba-177	321	31	demonstrate	demonstrate	VERB
faba-177	321	32	landx	landx	PROPN
faba-177	321	33	's	's	PART
faba-177	321	34	impact	impact	NOUN
faba-177	321	35	in	in	ADP
faba-177	321	36	providing	provide	VERB
faba-177	321	37	growth	growth	NOUN
faba-177	321	38	capital	capital	NOUN
faba-177	321	39	to	to	PART
faba-177	321	40	fund	fund	VERB
faba-177	321	41	operating	operating	NOUN
faba-177	321	42	launch	launch	NOUN
faba-177	321	43	and	and	CCONJ
faba-177	321	44	expansion	expansion	NOUN
faba-177	321	45	.	.	PUNCT
faba-177	322	1	the	the	DET
faba-177	322	2	sizable	sizable	ADJ
faba-177	322	3	investment	investment	NOUN
faba-177	322	4	in	in	ADP
faba-177	322	5	assets	asset	NOUN
faba-177	322	6	and	and	CCONJ
faba-177	322	7	ability	ability	NOUN
faba-177	322	8	to	to	PART
faba-177	322	9	generate	generate	VERB
faba-177	322	10	initial	initial	ADJ
faba-177	322	11	revenues	revenue	NOUN
faba-177	322	12	validates	validate	VERB
faba-177	322	13	the	the	DET
faba-177	322	14	business	business	NOUN
faba-177	322	15	model	model	NOUN
faba-177	322	16	viability	viability	NOUN
faba-177	322	17	.	.	PUNCT
faba-177	323	1	the	the	DET
faba-177	323	2	losses	loss	NOUN
faba-177	323	3	in	in	ADP
faba-177	323	4	the	the	DET
faba-177	323	5	initial	initial	ADJ
faba-177	323	6	years	year	NOUN
faba-177	323	7	of	of	ADP
faba-177	323	8	operations	operation	NOUN
faba-177	323	9	are	be	AUX
faba-177	323	10	consistent	consistent	ADJ
faba-177	323	11	with	with	ADP
faba-177	323	12	findings	finding	NOUN
faba-177	323	13	that	that	PRON
faba-177	323	14	crowdfunded	crowdfunde	VERB
faba-177	323	15	ventures	venture	NOUN
faba-177	323	16	face	face	VERB
faba-177	323	17	challenges	challenge	NOUN
faba-177	323	18	balancing	balance	VERB
faba-177	323	19	rapid	rapid	ADJ
faba-177	323	20	growth	growth	NOUN
faba-177	323	21	with	with	ADP
faba-177	323	22	profitability	profitability	NOUN
faba-177	323	23	(	(	PUNCT
faba-177	323	24	vismara	vismara	NOUN
faba-177	323	25	2021	2021	NUM
faba-177	323	26	)	)	PUNCT
faba-177	323	27	.	.	PUNCT
faba-177	324	1	the	the	DET
faba-177	324	2	high	high	ADJ
faba-177	324	3	fixed	fix	VERB
faba-177	324	4	asset	asset	NOUN
faba-177	324	5	investments	investment	NOUN
faba-177	324	6	also	also	ADV
faba-177	324	7	carry	carry	VERB
faba-177	324	8	risks	risk	NOUN
faba-177	324	9	of	of	ADP
faba-177	324	10	underutilization	underutilization	NOUN
faba-177	324	11	if	if	SCONJ
faba-177	324	12	demand	demand	NOUN
faba-177	324	13	does	do	AUX
faba-177	324	14	not	not	PART
faba-177	324	15	meet	meet	VERB
faba-177	324	16	projections	projection	NOUN
faba-177	324	17	(	(	PUNCT
faba-177	324	18	signori	signori	NOUN
faba-177	324	19	and	and	CCONJ
faba-177	324	20	vismara	vismara	NOUN
faba-177	324	21	2018	2018	NUM
faba-177	324	22	)	)	PUNCT
faba-177	324	23	.	.	PUNCT
faba-177	325	1	however	however	ADV
faba-177	325	2	,	,	PUNCT
faba-177	325	3	the	the	DET
faba-177	325	4	sales	sale	NOUN
faba-177	325	5	growth	growth	NOUN
faba-177	325	6	validates	validate	VERB
faba-177	325	7	the	the	DET
faba-177	325	8	proof	proof	NOUN
faba-177	325	9	of	of	ADP
faba-177	325	10	concept	concept	NOUN
faba-177	325	11	.	.	PUNCT
faba-177	326	1	slower	slow	ADJ
faba-177	326	2	,	,	PUNCT
faba-177	326	3	organic	organic	ADJ
faba-177	326	4	growth	growth	NOUN
faba-177	326	5	may	may	AUX
faba-177	326	6	have	have	VERB
faba-177	326	7	higher	high	ADJ
faba-177	326	8	chances	chance	NOUN
faba-177	326	9	of	of	ADP
faba-177	326	10	sustainability	sustainability	NOUN
faba-177	326	11	(	(	PUNCT
faba-177	326	12	lukkarinen	lukkarinen	PROPN
faba-177	326	13	et	et	PROPN
faba-177	326	14	al	al	PROPN
faba-177	326	15	.	.	PROPN
faba-177	326	16	2016	2016	NUM
faba-177	326	17	)	)	PUNCT
faba-177	326	18	.	.	PUNCT
faba-177	327	1	the	the	DET
faba-177	327	2	tangible	tangible	ADJ
faba-177	327	3	impact	impact	NOUN
faba-177	327	4	of	of	ADP
faba-177	327	5	access	access	NOUN
faba-177	327	6	to	to	ADP
faba-177	327	7	external	external	ADJ
faba-177	327	8	capital	capital	NOUN
faba-177	327	9	on	on	ADP
faba-177	327	10	facilitating	facilitate	VERB
faba-177	327	11	launch	launch	NOUN
faba-177	327	12	and	and	CCONJ
faba-177	327	13	expansion	expansion	NOUN
faba-177	327	14	aligns	align	VERB
faba-177	327	15	with	with	ADP
faba-177	327	16	studies	study	NOUN
faba-177	327	17	showing	show	VERB
faba-177	327	18	crowdfunding	crowdfunding	NOUN
faba-177	327	19	provides	provide	VERB
faba-177	327	20	necessary	necessary	ADJ
faba-177	327	21	resources	resource	NOUN
faba-177	327	22	for	for	ADP
faba-177	327	23	early	early	ADJ
faba-177	327	24	-	-	PUNCT
faba-177	327	25	stage	stage	NOUN
faba-177	327	26	ventures	venture	NOUN
faba-177	327	27	(	(	PUNCT
faba-177	327	28	ralcheva	ralcheva	NOUN
faba-177	327	29	and	and	CCONJ
faba-177	327	30	roosenboom	roosenboom	NOUN
faba-177	327	31	,	,	PUNCT
faba-177	327	32	2021	2021	NUM
faba-177	327	33	)	)	PUNCT
faba-177	327	34	.	.	PUNCT
faba-177	328	1	but	but	CCONJ
faba-177	328	2	realized	realize	VERB
faba-177	328	3	returns	return	NOUN
faba-177	328	4	can	can	AUX
faba-177	328	5	diverge	diverge	VERB
faba-177	328	6	from	from	ADP
faba-177	328	7	projections	projection	NOUN
faba-177	328	8	(	(	PUNCT
faba-177	328	9	dorfleitner	dorfleitner	NOUN
faba-177	328	10	et	et	PROPN
faba-177	328	11	al	al	PROPN
faba-177	328	12	.	.	PROPN
faba-177	328	13	2021	2021	NUM
faba-177	328	14	)	)	PUNCT
faba-177	328	15	.	.	PUNCT
faba-177	329	1	mentorship	mentorship	NOUN
faba-177	329	2	from	from	ADP
faba-177	329	3	platforms	platform	NOUN
faba-177	329	4	and	and	CCONJ
faba-177	329	5	investors	investor	NOUN
faba-177	329	6	may	may	AUX
faba-177	329	7	help	help	VERB
faba-177	329	8	improve	improve	VERB
faba-177	329	9	performance	performance	NOUN
faba-177	329	10	(	(	PUNCT
faba-177	329	11	vismara	vismara	NOUN
faba-177	329	12	2021	2021	NUM
faba-177	329	13	)	)	PUNCT
faba-177	329	14	.	.	PUNCT
faba-177	330	1	landx	landx	PROPN
faba-177	330	2	also	also	ADV
faba-177	330	3	delivers	deliver	VERB
faba-177	330	4	value	value	NOUN
faba-177	330	5	-	-	PUNCT
faba-177	330	6	added	add	VERB
faba-177	330	7	resources	resource	NOUN
faba-177	330	8	like	like	ADP
faba-177	330	9	investor	investor	NOUN
faba-177	330	10	exposure	exposure	NOUN
faba-177	330	11	and	and	CCONJ
faba-177	330	12	networks	network	NOUN
faba-177	330	13	,	,	PUNCT
faba-177	330	14	performance	performance	NOUN
faba-177	330	15	monitoring	monitoring	NOUN
faba-177	330	16	tools	tool	NOUN
faba-177	330	17	,	,	PUNCT
faba-177	330	18	and	and	CCONJ
faba-177	330	19	guidance	guidance	NOUN
faba-177	330	20	on	on	ADP
faba-177	330	21	financial	financial	ADJ
faba-177	330	22	management	management	NOUN
faba-177	330	23	practices	practice	NOUN
faba-177	330	24	relevant	relevant	ADJ
faba-177	330	25	for	for	ADP
faba-177	330	26	external	external	ADJ
faba-177	330	27	shareholders	shareholder	NOUN
faba-177	330	28	.	.	PUNCT
faba-177	331	1	for	for	ADP
faba-177	331	2	example	example	NOUN
faba-177	331	3	,	,	PUNCT
faba-177	331	4	integrated	integrate	VERB
faba-177	331	5	pos	pos	NOUN
faba-177	331	6	systems	system	NOUN
faba-177	331	7	allow	allow	VERB
faba-177	331	8	landx	landx	ADJ
faba-177	331	9	ongoing	ongoing	ADJ
faba-177	331	10	visibility	visibility	NOUN
faba-177	331	11	into	into	ADP
faba-177	331	12	issuer	issuer	ADJ
faba-177	331	13	revenues	revenue	NOUN
faba-177	331	14	to	to	ADP
faba-177	331	15	flag	flag	NOUN
faba-177	331	16	risks	risk	NOUN
faba-177	331	17	.	.	PUNCT
faba-177	332	1	these	these	DET
faba-177	332	2	resources	resource	NOUN
faba-177	332	3	address	address	VERB
faba-177	332	4	structural	structural	ADJ
faba-177	332	5	gaps	gap	NOUN
faba-177	332	6	young	young	ADJ
faba-177	332	7	ventures	venture	NOUN
faba-177	332	8	often	often	ADV
faba-177	332	9	face	face	VERB
faba-177	332	10	(	(	PUNCT
faba-177	332	11	schwienbacher	schwienbacher	NOUN
faba-177	332	12	and	and	CCONJ
faba-177	332	13	larralde	larralde	ADJ
faba-177	332	14	2012	2012	NUM
faba-177	332	15	)	)	PUNCT
faba-177	332	16	.	.	PUNCT
faba-177	333	1	the	the	DET
faba-177	333	2	document	document	NOUN
faba-177	333	3	sample	sample	NOUN
faba-177	333	4	from	from	ADP
faba-177	333	5	pt	pt	PROPN
faba-177	333	6	sejiwa	sejiwa	PROPN
faba-177	333	7	coffee	coffee	NOUN
faba-177	333	8	,	,	PUNCT
faba-177	333	9	while	while	SCONJ
faba-177	333	10	limited	limit	VERB
faba-177	333	11	to	to	ADP
faba-177	333	12	first	first	ADJ
faba-177	333	13	year	year	NOUN
faba-177	333	14	results	result	NOUN
faba-177	333	15	,	,	PUNCT
faba-177	333	16	does	do	AUX
faba-177	333	17	provide	provide	VERB
faba-177	333	18	initial	initial	ADJ
faba-177	333	19	quantitative	quantitative	ADJ
faba-177	333	20	verification	verification	NOUN
faba-177	333	21	of	of	ADP
faba-177	333	22	revenue	revenue	NOUN
faba-177	333	23	generation	generation	NOUN
faba-177	333	24	,	,	PUNCT
faba-177	333	25	asset	asset	NOUN
faba-177	333	26	acquisition	acquisition	NOUN
faba-177	333	27	,	,	PUNCT
faba-177	333	28	and	and	CCONJ
faba-177	333	29	geographical	geographical	ADJ
faba-177	333	30	expansion	expansion	NOUN
faba-177	333	31	enabled	enable	VERB
faba-177	333	32	by	by	ADP
faba-177	333	33	the	the	DET
faba-177	333	34	landx	landx	ADJ
faba-177	333	35	fundraising	fundraising	NOUN
faba-177	333	36	.	.	PUNCT
faba-177	334	1	this	this	DET
faba-177	334	2	table	table	NOUN
faba-177	334	3	presents	present	VERB
faba-177	334	4	summary	summary	VERB
faba-177	334	5	financial	financial	ADJ
faba-177	334	6	information	information	NOUN
faba-177	334	7	on	on	ADP
faba-177	334	8	the	the	DET
faba-177	334	9	overall	overall	ADJ
faba-177	334	10	assets	asset	NOUN
faba-177	334	11	,	,	PUNCT
faba-177	334	12	capital	capital	NOUN
faba-177	334	13	structure	structure	NOUN
faba-177	334	14	,	,	PUNCT
faba-177	334	15	revenues	revenue	NOUN
faba-177	334	16	,	,	PUNCT
faba-177	334	17	and	and	CCONJ
faba-177	334	18	profitability	profitability	NOUN
faba-177	334	19	of	of	ADP
faba-177	334	20	pt	pt	PROPN
faba-177	334	21	sejiwa	sejiwa	NOUN
faba-177	334	22	in	in	ADP
faba-177	334	23	their	their	PRON
faba-177	334	24	first	first	ADJ
faba-177	334	25	year	year	NOUN
faba-177	334	26	of	of	ADP
faba-177	334	27	operations	operation	NOUN
faba-177	334	28	after	after	ADP
faba-177	334	29	raising	raise	VERB
faba-177	334	30	funds	fund	NOUN
faba-177	334	31	through	through	ADP
faba-177	334	32	landx	landx	PROPN
faba-177	334	33	.	.	PUNCT
faba-177	334	34	table	table	NOUN
faba-177	334	35	3	3	NUM
faba-177	334	36	.	.	PUNCT
faba-177	334	37	financial	financial	ADJ
faba-177	334	38	performance	performance	NOUN
faba-177	334	39	summary	summary	NOUN
faba-177	334	40	of	of	ADP
faba-177	334	41	pt	pt	PROPN
faba-177	334	42	sejiwa	sejiwa	PROPN
faba-177	334	43	coffee	coffee	NOUN
faba-177	334	44	in	in	ADP
faba-177	334	45	2022	2022	NUM
faba-177	334	46	launch	launch	NOUN
faba-177	334	47	year	year	NOUN
faba-177	334	48	metric	metric	ADJ
faba-177	334	49	amount	amount	NOUN
faba-177	334	50	total	total	ADJ
faba-177	334	51	asset	asset	NOUN
faba-177	334	52	rp	rp	NOUN
faba-177	334	53	6,092,736,511	6,092,736,511	ADJ
faba-177	334	54	total	total	ADJ
faba-177	334	55	liabilities	liability	NOUN
faba-177	334	56	rp	rp	ADP
faba-177	334	57	1,471,587,530	1,471,587,530	NUM
faba-177	334	58	total	total	ADJ
faba-177	334	59	equity	equity	NOUN
faba-177	334	60	rp	rp	NOUN
faba-177	334	61	4,621,148,981	4,621,148,981	NOUN
faba-177	334	62	revenues	revenue	NOUN
faba-177	334	63	rp	rp	ADP
faba-177	334	64	816,530,400	816,530,400	NUM
faba-177	334	65	gross	gross	ADJ
faba-177	334	66	profit	profit	NOUN
faba-177	334	67	rp	rp	NOUN
faba-177	334	68	522,821,483	522,821,483	NUM
faba-177	334	69	net	net	ADJ
faba-177	334	70	loss	loss	NOUN
faba-177	334	71	rp	rp	NOUN
faba-177	334	72	40,191,019	40,191,019	NUM
faba-177	334	73	outlets	outlet	NOUN
faba-177	334	74	opened	open	VERB
faba-177	334	75	1	1	NUM
faba-177	334	76	assets	asset	NOUN
faba-177	334	77	acquired	acquire	VERB
faba-177	334	78	rp	rp	PROPN
faba-177	334	79	2,389,515,418	2,389,515,418	NUM
faba-177	334	80	source	source	NOUN
faba-177	334	81	:	:	PUNCT
faba-177	334	82	landx	landx	ADJ
faba-177	334	83	document	document	NOUN
faba-177	334	84	financial	financial	ADJ
faba-177	334	85	statements	statement	NOUN
faba-177	334	86	from	from	ADP
faba-177	334	87	coffee	coffee	NOUN
faba-177	334	88	chain	chain	NOUN
faba-177	334	89	pt	pt	PROPN
faba-177	334	90	sejiwa	sejiwa	PROPN
faba-177	334	91	,	,	PUNCT
faba-177	334	92	launching	launch	VERB
faba-177	334	93	post	post	ADJ
faba-177	334	94	-	-	ADJ
faba-177	334	95	landx	landx	ADJ
faba-177	334	96	fundraising	fundraising	NOUN
faba-177	334	97	in	in	ADP
faba-177	334	98	2022	2022	NUM
faba-177	334	99	,	,	PUNCT
faba-177	334	100	provide	provide	VERB
faba-177	334	101	initial	initial	ADJ
faba-177	334	102	quantification	quantification	NOUN
faba-177	334	103	of	of	ADP
faba-177	334	104	outcomes	outcome	NOUN
faba-177	334	105	.	.	PUNCT
faba-177	335	1	as	as	SCONJ
faba-177	335	2	table	table	NOUN
faba-177	335	3	2	2	NUM
faba-177	335	4	exhibit	exhibit	NOUN
faba-177	335	5	,	,	PUNCT
faba-177	335	6	sejiwa	sejiwa	ADJ
faba-177	335	7	utilized	utilize	VERB
faba-177	335	8	capital	capital	NOUN
faba-177	335	9	to	to	PART
faba-177	335	10	open	open	VERB
faba-177	335	11	1	1	NUM
faba-177	335	12	outlet	outlet	NOUN
faba-177	335	13	,	,	PUNCT
faba-177	335	14	acquire	acquire	VERB
faba-177	335	15	rp	rp	ADP
faba-177	335	16	2.4	2.4	NUM
faba-177	335	17	billion	billion	NUM
faba-177	335	18	in	in	ADP
faba-177	335	19	assets	asset	NOUN
faba-177	335	20	,	,	PUNCT
faba-177	335	21	generate	generate	VERB
faba-177	335	22	rp	rp	NOUN
faba-177	335	23	816	816	NUM
faba-177	335	24	million	million	NUM
faba-177	335	25	in	in	ADP
faba-177	335	26	first	first	ADJ
faba-177	335	27	year	year	NOUN
faba-177	335	28	sales	sale	NOUN
faba-177	335	29	including	include	VERB
faba-177	335	30	december	december	PROPN
faba-177	335	31	seasonality	seasonality	NOUN
faba-177	335	32	peaks	peak	NOUN
faba-177	335	33	validating	validate	VERB
faba-177	335	34	market	market	NOUN
faba-177	335	35	traction	traction	NOUN
faba-177	335	36	,	,	PUNCT
faba-177	335	37	and	and	CCONJ
faba-177	335	38	yield	yield	VERB
faba-177	335	39	64	64	NUM
faba-177	335	40	%	%	NOUN
faba-177	335	41	gross	gross	ADJ
faba-177	335	42	margins	margin	NOUN
faba-177	335	43	.	.	PUNCT
faba-177	336	1	while	while	SCONJ
faba-177	336	2	bottom	bottom	ADJ
faba-177	336	3	line	line	NOUN
faba-177	336	4	net	net	ADJ
faba-177	336	5	losses	loss	NOUN
faba-177	336	6	exist	exist	VERB
faba-177	336	7	initially	initially	ADV
faba-177	336	8	,	,	PUNCT
faba-177	336	9	the	the	DET
faba-177	336	10	revenue	revenue	NOUN
faba-177	336	11	generation	generation	NOUN
faba-177	336	12	and	and	CCONJ
faba-177	336	13	growth	growth	NOUN
faba-177	336	14	signal	signal	VERB
faba-177	336	15	positive	positive	ADJ
faba-177	336	16	directionality	directionality	NOUN
faba-177	336	17	(	(	PUNCT
faba-177	336	18	signori	signori	NOUN
faba-177	336	19	and	and	CCONJ
faba-177	336	20	vismara	vismara	NOUN
faba-177	336	21	2018	2018	NUM
faba-177	336	22	)	)	PUNCT
faba-177	336	23	.	.	PUNCT
faba-177	337	1	however	however	ADV
faba-177	337	2	,	,	PUNCT
faba-177	337	3	data	datum	NOUN
faba-177	337	4	remains	remain	VERB
faba-177	337	5	limited	limited	ADJ
faba-177	337	6	restraining	restrain	VERB
faba-177	337	7	definitive	definitive	ADJ
faba-177	337	8	judgments	judgment	NOUN
faba-177	337	9	of	of	ADP
faba-177	337	10	eventual	eventual	ADJ
faba-177	337	11	profitability	profitability	NOUN
faba-177	337	12	,	,	PUNCT
faba-177	337	13	sustainability	sustainability	NOUN
faba-177	337	14	,	,	PUNCT
faba-177	337	15	or	or	CCONJ
faba-177	337	16	optimal	optimal	ADJ
faba-177	337	17	capital	capital	NOUN
faba-177	337	18	deployment	deployment	NOUN
faba-177	337	19	.	.	PUNCT
faba-177	338	1	longer	long	ADV
faba-177	338	2	tracking	track	VERB
faba-177	338	3	of	of	ADP
faba-177	338	4	detailed	detailed	ADJ
faba-177	338	5	kpis	kpis	PROPN
faba-177	338	6	would	would	AUX
faba-177	338	7	enrich	enrich	VERB
faba-177	338	8	analysis	analysis	NOUN
faba-177	338	9	(	(	PUNCT
faba-177	338	10	vismara	vismara	NOUN
faba-177	338	11	2021	2021	NUM
faba-177	338	12	)	)	PUNCT
faba-177	338	13	.	.	PUNCT
faba-177	339	1	early	early	ADJ
faba-177	339	2	signs	sign	NOUN
faba-177	339	3	echo	echo	VERB
faba-177	339	4	research	research	NOUN
faba-177	339	5	suggesting	suggest	VERB
faba-177	339	6	some	some	DET
faba-177	339	7	progress	progress	NOUN
faba-177	339	8	but	but	CCONJ
faba-177	339	9	prudent	prudent	ADJ
faba-177	339	10	expectations	expectation	NOUN
faba-177	339	11	warranted	warrant	VERB
faba-177	339	12	during	during	ADP
faba-177	339	13	volatile	volatile	ADJ
faba-177	339	14	pioneering	pioneering	ADJ
faba-177	339	15	phases	phase	NOUN
faba-177	339	16	(	(	PUNCT
faba-177	339	17	mamonov	mamonov	NOUN
faba-177	339	18	et	et	PROPN
faba-177	339	19	al	al	PROPN
faba-177	339	20	.	.	PROPN
faba-177	339	21	2020	2020	NUM
faba-177	339	22	)	)	PUNCT
faba-177	339	23	.	.	PUNCT
faba-177	340	1	however	however	ADV
faba-177	340	2	,	,	PUNCT
faba-177	340	3	quantitative	quantitative	ADJ
faba-177	340	4	data	datum	NOUN
faba-177	340	5	directly	directly	ADV
faba-177	340	6	demonstrating	demonstrate	VERB
faba-177	340	7	pre	pre	ADJ
faba-177	340	8	-	-	ADJ
faba-177	340	9	post	post	ADJ
faba-177	340	10	financial	financial	ADJ
faba-177	340	11	impact	impact	NOUN
faba-177	340	12	attributable	attributable	ADJ
faba-177	340	13	to	to	ADP
faba-177	340	14	crowdfunding	crowdfunding	NOUN
faba-177	340	15	remains	remain	VERB
faba-177	340	16	limited	limited	ADJ
faba-177	340	17	at	at	ADP
faba-177	340	18	this	this	DET
faba-177	340	19	early	early	ADJ
faba-177	340	20	stage	stage	NOUN
faba-177	340	21	.	.	PUNCT
faba-177	341	1	initial	initial	ADJ
faba-177	341	2	signs	sign	NOUN
faba-177	341	3	like	like	ADP
faba-177	341	4	outlet	outlet	NOUN
faba-177	341	5	growth	growth	NOUN
faba-177	341	6	suggest	suggest	VERB
faba-177	341	7	positive	positive	ADJ
faba-177	341	8	directionality	directionality	NOUN
faba-177	341	9	but	but	CCONJ
faba-177	341	10	definitive	definitive	ADJ
faba-177	341	11	validation	validation	NOUN
faba-177	341	12	requires	require	VERB
faba-177	341	13	multi	multi	ADJ
faba-177	341	14	-	-	ADJ
faba-177	341	15	year	year	ADJ
faba-177	341	16	financial	financial	ADJ
faba-177	341	17	tracking	tracking	NOUN
faba-177	341	18	.	.	PUNCT
faba-177	342	1	data	datum	NOUN
faba-177	342	2	sufficiency	sufficiency	NOUN
faba-177	342	3	challenges	challenge	NOUN
faba-177	342	4	also	also	ADV
faba-177	342	5	constrain	constrain	VERB
faba-177	342	6	assessment	assessment	NOUN
faba-177	342	7	of	of	ADP
faba-177	342	8	long	long	ADJ
faba-177	342	9	-	-	PUNCT
faba-177	342	10	term	term	NOUN
faba-177	342	11	performance	performance	NOUN
faba-177	342	12	influences	influence	NOUN
faba-177	342	13	like	like	ADP
faba-177	342	14	profit	profit	NOUN
faba-177	342	15	margins	margin	NOUN
faba-177	342	16	,	,	PUNCT
faba-177	342	17	failure	failure	NOUN
faba-177	342	18	rates	rate	NOUN
faba-177	342	19	and	and	CCONJ
faba-177	342	20	optimal	optimal	ADJ
faba-177	342	21	deployment	deployment	NOUN
faba-177	342	22	of	of	ADP
faba-177	342	23	raised	raise	VERB
faba-177	342	24	capital	capital	NOUN
faba-177	342	25	.	.	PUNCT
faba-177	343	1	according	accord	VERB
faba-177	343	2	to	to	ADP
faba-177	343	3	vismara	vismara	NOUN
faba-177	343	4	(	(	PUNCT
faba-177	343	5	2021	2021	NUM
faba-177	343	6	)	)	PUNCT
faba-177	343	7	,	,	PUNCT
faba-177	343	8	realized	realize	VERB
faba-177	343	9	returns	return	NOUN
faba-177	343	10	and	and	CCONJ
faba-177	343	11	viability	viability	NOUN
faba-177	343	12	ultimately	ultimately	ADV
faba-177	343	13	depend	depend	VERB
faba-177	343	14	on	on	ADP
faba-177	343	15	fit	fit	ADJ
faba-177	343	16	between	between	ADP
faba-177	343	17	crowdfunded	crowdfunde	VERB
faba-177	343	18	capital	capital	NOUN
faba-177	343	19	,	,	PUNCT
faba-177	343	20	platform	platform	NOUN
faba-177	343	21	resources	resource	NOUN
faba-177	343	22	,	,	PUNCT
faba-177	343	23	and	and	CCONJ
faba-177	343	24	issuers	issuer	NOUN
faba-177	343	25	'	'	PART
faba-177	343	26	internal	internal	ADJ
faba-177	343	27	capabilities	capability	NOUN
faba-177	343	28	.	.	PUNCT
faba-177	344	1	the	the	DET
faba-177	344	2	document	document	NOUN
faba-177	344	3	sample	sample	NOUN
faba-177	344	4	from	from	ADP
faba-177	344	5	pt	pt	PROPN
faba-177	344	6	sejiwa	sejiwa	PROPN
faba-177	344	7	coffee	coffee	NOUN
faba-177	344	8	,	,	PUNCT
faba-177	344	9	while	while	SCONJ
faba-177	344	10	limited	limit	VERB
faba-177	344	11	to	to	ADP
faba-177	344	12	first	first	ADJ
faba-177	344	13	year	year	NOUN
faba-177	344	14	results	result	NOUN
faba-177	344	15	,	,	PUNCT
faba-177	344	16	does	do	AUX
faba-177	344	17	provide	provide	VERB
faba-177	344	18	initial	initial	ADJ
faba-177	344	19	quantitative	quantitative	ADJ
faba-177	344	20	verification	verification	NOUN
faba-177	344	21	of	of	ADP
faba-177	344	22	revenue	revenue	NOUN
faba-177	344	23	generation	generation	NOUN
faba-177	344	24	,	,	PUNCT
faba-177	344	25	asset	asset	NOUN
faba-177	344	26	acquisition	acquisition	NOUN
faba-177	344	27	,	,	PUNCT
faba-177	344	28	and	and	CCONJ
faba-177	344	29	geographical	geographical	ADJ
faba-177	344	30	expansion	expansion	NOUN
faba-177	344	31	enabled	enable	VERB
faba-177	344	32	by	by	ADP
faba-177	344	33	the	the	DET
faba-177	344	34	landx	landx	ADJ
faba-177	344	35	fundraising	fundraising	NOUN
faba-177	344	36	.	.	PUNCT
faba-177	345	1	but	but	CCONJ
faba-177	345	2	comprehensive	comprehensive	ADJ
faba-177	345	3	pre	pre	ADJ
faba-177	345	4	-	-	ADJ
faba-177	345	5	post	post	ADJ
faba-177	345	6	data	datum	NOUN
faba-177	345	7	would	would	AUX
faba-177	345	8	better	well	ADV
faba-177	345	9	quantify	quantify	VERB
faba-177	345	10	impact	impact	NOUN
faba-177	345	11	on	on	ADP
faba-177	345	12	jobs	job	NOUN
faba-177	345	13	,	,	PUNCT
faba-177	345	14	profit	profit	NOUN
faba-177	345	15	,	,	PUNCT
faba-177	345	16	sustainability	sustainability	NOUN
faba-177	345	17	,	,	PUNCT
faba-177	345	18	and	and	CCONJ
faba-177	345	19	failure	failure	NOUN
faba-177	345	20	rates	rate	NOUN
faba-177	345	21	.	.	PUNCT
faba-177	346	1	prudent	prudent	ADJ
faba-177	346	2	expectations	expectation	NOUN
faba-177	346	3	remain	remain	AUX
faba-177	346	4	warranted	warrant	VERB
faba-177	346	5	pending	pende	VERB
faba-177	346	6	long	long	ADJ
faba-177	346	7	-	-	PUNCT
faba-177	346	8	term	term	NOUN
faba-177	346	9	performance	performance	NOUN
faba-177	346	10	data	datum	NOUN
faba-177	346	11	across	across	ADP
faba-177	346	12	issuers	issuer	NOUN
faba-177	346	13	,	,	PUNCT
faba-177	346	14	though	though	SCONJ
faba-177	346	15	emerging	emerge	VERB
faba-177	346	16	progress	progress	NOUN
faba-177	346	17	is	be	AUX
faba-177	346	18	observable	observable	ADJ
faba-177	346	19	.	.	PUNCT
faba-177	347	1	impact	impact	NOUN
faba-177	347	2	transparency	transparency	NOUN
faba-177	347	3	through	through	ADP
faba-177	347	4	granular	granular	ADJ
faba-177	347	5	tracking	tracking	NOUN
faba-177	347	6	should	should	AUX
faba-177	347	7	be	be	AUX
faba-177	347	8	an	an	DET
faba-177	347	9	ecosystem	ecosystem	NOUN
faba-177	347	10	priority	priority	NOUN
faba-177	347	11	.	.	PUNCT
faba-177	348	1	while	while	SCONJ
faba-177	348	2	definitive	definitive	ADJ
faba-177	348	3	conclusions	conclusion	NOUN
faba-177	348	4	require	require	VERB
faba-177	348	5	more	more	ADJ
faba-177	348	6	years	year	NOUN
faba-177	348	7	of	of	ADP
faba-177	348	8	data	datum	NOUN
faba-177	348	9	,	,	PUNCT
faba-177	348	10	signs	sign	NOUN
faba-177	348	11	of	of	ADP
faba-177	348	12	initial	initial	ADJ
faba-177	348	13	traction	traction	NOUN
faba-177	348	14	echo	echo	NOUN
faba-177	348	15	research	research	NOUN
faba-177	348	16	showing	show	VERB
faba-177	348	17	crowdfunding	crowdfunding	NOUN
faba-177	348	18	can	can	AUX
faba-177	348	19	enable	enable	VERB
faba-177	348	20	progress	progress	NOUN
faba-177	348	21	(	(	PUNCT
faba-177	348	22	signori	signori	NOUN
faba-177	348	23	and	and	CCONJ
faba-177	348	24	vismara	vismara	NOUN
faba-177	348	25	2018	2018	NUM
faba-177	348	26	)	)	PUNCT
faba-177	348	27	.	.	PUNCT
faba-177	349	1	as	as	SCONJ
faba-177	349	2	platforms	platform	NOUN
faba-177	349	3	provide	provide	VERB
faba-177	349	4	marketing	marketing	NOUN
faba-177	349	5	and	and	CCONJ
faba-177	349	6	advisory	advisory	ADJ
faba-177	349	7	support	support	NOUN
faba-177	349	8	,	,	PUNCT
faba-177	349	9	ultimate	ultimate	ADJ
faba-177	349	10	success	success	NOUN
faba-177	349	11	depends	depend	VERB
faba-177	349	12	heavily	heavily	ADV
faba-177	349	13	on	on	ADP
faba-177	349	14	issuers	issuer	NOUN
faba-177	349	15	’	'	PUNCT
faba-177	349	16	own	own	VERB
faba-177	349	17	capabilities	capability	NOUN
faba-177	349	18	amid	amid	ADP
faba-177	349	19	economic	economic	ADJ
faba-177	349	20	volatility	volatility	NOUN
faba-177	349	21	.	.	PUNCT
faba-177	350	1	high	high	ADJ
faba-177	350	2	failure	failure	NOUN
faba-177	350	3	sanjaya	sanjaya	PROPN
faba-177	350	4	and	and	CCONJ
faba-177	350	5	koesrindartoto	koesrindartoto	PROPN
faba-177	350	6	/	/	SYM
faba-177	350	7	finance	finance	NOUN
faba-177	350	8	,	,	PUNCT
faba-177	350	9	accounting	accounting	NOUN
faba-177	350	10	and	and	CCONJ
faba-177	350	11	business	business	NOUN
faba-177	350	12	analysis	analysis	NOUN
faba-177	350	13	,	,	PUNCT
faba-177	350	14	volume	volume	NOUN
faba-177	350	15	5	5	NUM
faba-177	350	16	,	,	PUNCT
faba-177	350	17	issue	issue	NOUN
faba-177	350	18	2	2	NUM
faba-177	350	19	,	,	PUNCT
faba-177	350	20	2023	2023	NUM
faba-177	350	21	184	184	NUM
faba-177	350	22	rates	rate	NOUN
faba-177	350	23	still	still	ADV
faba-177	350	24	exist	exist	VERB
faba-177	350	25	,	,	PUNCT
faba-177	350	26	requiring	require	VERB
faba-177	350	27	prudent	prudent	ADJ
faba-177	350	28	expectations	expectation	NOUN
faba-177	350	29	(	(	PUNCT
faba-177	350	30	mamonov	mamonov	PROPN
faba-177	350	31	et	et	PROPN
faba-177	350	32	al	al	PROPN
faba-177	350	33	.	.	PROPN
faba-177	350	34	2020	2020	NUM
faba-177	350	35	)	)	PUNCT
faba-177	350	36	.	.	PUNCT
faba-177	351	1	ongoing	ongoing	ADJ
faba-177	351	2	performance	performance	NOUN
faba-177	351	3	monitoring	monitoring	NOUN
faba-177	351	4	,	,	PUNCT
faba-177	351	5	realistic	realistic	ADJ
faba-177	351	6	projections	projection	NOUN
faba-177	351	7	,	,	PUNCT
faba-177	351	8	and	and	CCONJ
faba-177	351	9	measurable	measurable	ADJ
faba-177	351	10	long	long	ADJ
faba-177	351	11	-	-	PUNCT
faba-177	351	12	term	term	NOUN
faba-177	351	13	data	datum	NOUN
faba-177	351	14	can	can	AUX
faba-177	351	15	inform	inform	VERB
faba-177	351	16	judgments	judgment	NOUN
faba-177	351	17	but	but	CCONJ
faba-177	351	18	overall	overall	ADV
faba-177	351	19	,	,	PUNCT
faba-177	351	20	the	the	DET
faba-177	351	21	business	business	NOUN
faba-177	351	22	outcomes	outcome	NOUN
faba-177	351	23	reflect	reflect	VERB
faba-177	351	24	realistic	realistic	ADJ
faba-177	351	25	,	,	PUNCT
faba-177	351	26	mixed	mixed	ADJ
faba-177	351	27	results	result	NOUN
faba-177	351	28	.	.	PUNCT
faba-177	352	1	overall	overall	ADJ
faba-177	352	2	assessment	assessment	NOUN
faba-177	352	3	this	this	DET
faba-177	352	4	exploratory	exploratory	ADJ
faba-177	352	5	case	case	NOUN
faba-177	352	6	study	study	NOUN
faba-177	352	7	of	of	ADP
faba-177	352	8	the	the	DET
faba-177	352	9	landx	landx	ADJ
faba-177	352	10	platform	platform	NOUN
faba-177	352	11	in	in	ADP
faba-177	352	12	indonesia	indonesia	PROPN
faba-177	352	13	reveals	reveal	VERB
faba-177	352	14	balanced	balanced	ADJ
faba-177	352	15	strengths	strength	NOUN
faba-177	352	16	and	and	CCONJ
faba-177	352	17	judicious	judicious	ADJ
faba-177	352	18	opportunities	opportunity	NOUN
faba-177	352	19	as	as	SCONJ
faba-177	352	20	equity	equity	NOUN
faba-177	352	21	crowdfunding	crowdfunding	NOUN
faba-177	352	22	localizes	localize	VERB
faba-177	352	23	.	.	PUNCT
faba-177	353	1	progress	progress	NOUN
faba-177	353	2	is	be	AUX
faba-177	353	3	evidenced	evidence	VERB
faba-177	353	4	by	by	ADP
faba-177	353	5	diligent	diligent	ADJ
faba-177	353	6	vetting	vetting	NOUN
faba-177	353	7	procedures	procedure	NOUN
faba-177	353	8	for	for	ADP
faba-177	353	9	issuers	issuer	NOUN
faba-177	353	10	,	,	PUNCT
faba-177	353	11	value	value	NOUN
faba-177	353	12	-	-	PUNCT
faba-177	353	13	added	add	VERB
faba-177	353	14	resources	resource	NOUN
faba-177	353	15	supplied	supply	VERB
faba-177	353	16	to	to	ADP
faba-177	353	17	entrepreneurs	entrepreneur	NOUN
faba-177	353	18	,	,	PUNCT
faba-177	353	19	and	and	CCONJ
faba-177	353	20	prudent	prudent	ADJ
faba-177	353	21	self	self	NOUN
faba-177	353	22	-	-	PUNCT
faba-177	353	23	regulation	regulation	NOUN
faba-177	353	24	amid	amid	ADP
faba-177	353	25	fluid	fluid	ADJ
faba-177	353	26	policies	policy	NOUN
faba-177	353	27	.	.	PUNCT
faba-177	354	1	however	however	ADV
faba-177	354	2	,	,	PUNCT
faba-177	354	3	needs	need	NOUN
faba-177	354	4	exist	exist	VERB
faba-177	354	5	to	to	PART
faba-177	354	6	enhance	enhance	VERB
faba-177	354	7	due	due	ADJ
faba-177	354	8	diligence	diligence	NOUN
faba-177	354	9	predictive	predictive	ADJ
faba-177	354	10	power	power	NOUN
faba-177	354	11	through	through	ADP
faba-177	354	12	technology	technology	NOUN
faba-177	354	13	and	and	CCONJ
faba-177	354	14	evidence	evidence	NOUN
faba-177	354	15	,	,	PUNCT
faba-177	354	16	implement	implement	VERB
faba-177	354	17	tailored	tailor	VERB
faba-177	354	18	strategies	strategy	NOUN
faba-177	354	19	addressing	address	VERB
faba-177	354	20	diverse	diverse	ADJ
faba-177	354	21	investor	investor	NOUN
faba-177	354	22	motivations	motivation	NOUN
faba-177	354	23	and	and	CCONJ
faba-177	354	24	biases	bias	NOUN
faba-177	354	25	,	,	PUNCT
faba-177	354	26	expand	expand	VERB
faba-177	354	27	formal	formal	ADJ
faba-177	354	28	regulations	regulation	NOUN
faba-177	354	29	to	to	PART
faba-177	354	30	enable	enable	VERB
faba-177	354	31	governance	governance	NOUN
faba-177	354	32	commensurate	commensurate	NOUN
faba-177	354	33	with	with	ADP
faba-177	354	34	sector	sector	NOUN
faba-177	354	35	growth	growth	NOUN
faba-177	354	36	,	,	PUNCT
faba-177	354	37	and	and	CCONJ
faba-177	354	38	responsibly	responsibly	ADV
faba-177	354	39	temper	temper	NOUN
faba-177	354	40	outcome	outcome	NOUN
faba-177	354	41	expectations	expectation	NOUN
faba-177	354	42	while	while	SCONJ
faba-177	354	43	pursuing	pursue	VERB
faba-177	354	44	transparent	transparent	ADJ
faba-177	354	45	impact	impact	NOUN
faba-177	354	46	data	datum	NOUN
faba-177	354	47	.	.	PUNCT
faba-177	355	1	as	as	ADP
faba-177	355	2	an	an	DET
faba-177	355	3	early	early	ADJ
faba-177	355	4	stage	stage	NOUN
faba-177	355	5	industry	industry	NOUN
faba-177	355	6	,	,	PUNCT
faba-177	355	7	uncertainties	uncertainty	NOUN
faba-177	355	8	persist	persist	VERB
faba-177	355	9	.	.	PUNCT
faba-177	356	1	but	but	CCONJ
faba-177	356	2	landx	landx	PROPN
faba-177	356	3	exhibits	exhibit	VERB
faba-177	356	4	laudable	laudable	ADJ
faba-177	356	5	steps	step	NOUN
faba-177	356	6	to	to	PART
faba-177	356	7	screen	screen	NOUN
faba-177	356	8	issuers	issuer	NOUN
faba-177	356	9	,	,	PUNCT
faba-177	356	10	provide	provide	VERB
faba-177	356	11	resources	resource	NOUN
faba-177	356	12	,	,	PUNCT
faba-177	356	13	and	and	CCONJ
faba-177	356	14	protect	protect	VERB
faba-177	356	15	investors	investor	NOUN
faba-177	356	16	that	that	PRON
faba-177	356	17	establish	establish	VERB
faba-177	356	18	foundations	foundation	NOUN
faba-177	356	19	.	.	PUNCT
faba-177	357	1	findings	finding	NOUN
faba-177	357	2	emphasize	emphasize	VERB
faba-177	357	3	that	that	SCONJ
faba-177	357	4	collaboratively	collaboratively	ADV
faba-177	357	5	fostering	foster	VERB
faba-177	357	6	this	this	DET
faba-177	357	7	ecosystem	ecosystem	NOUN
faba-177	357	8	will	will	AUX
faba-177	357	9	require	require	VERB
faba-177	357	10	coordinated	coordinated	ADJ
faba-177	357	11	efforts	effort	NOUN
faba-177	357	12	across	across	ADP
faba-177	357	13	stakeholders	stakeholder	NOUN
faba-177	357	14	to	to	PART
faba-177	357	15	craft	craft	VERB
faba-177	357	16	evidence	evidence	NOUN
faba-177	357	17	-	-	PUNCT
faba-177	357	18	based	base	VERB
faba-177	357	19	policies	policy	NOUN
faba-177	357	20	and	and	CCONJ
faba-177	357	21	practices	practice	NOUN
faba-177	357	22	supporting	support	VERB
faba-177	357	23	balanced	balanced	ADJ
faba-177	357	24	innovation	innovation	NOUN
faba-177	357	25	.	.	PUNCT
faba-177	358	1	landx	landx	PROPN
faba-177	358	2	provides	provide	VERB
faba-177	358	3	a	a	DET
faba-177	358	4	useful	useful	ADJ
faba-177	358	5	case	case	NOUN
faba-177	358	6	demonstrating	demonstrate	VERB
faba-177	358	7	nuanced	nuanced	ADJ
faba-177	358	8	navigation	navigation	NOUN
faba-177	358	9	required	require	VERB
faba-177	358	10	to	to	PART
faba-177	358	11	expand	expand	VERB
faba-177	358	12	financial	financial	ADJ
faba-177	358	13	access	access	NOUN
faba-177	358	14	without	without	ADP
faba-177	358	15	undue	undue	ADJ
faba-177	358	16	risks	risk	NOUN
faba-177	358	17	.	.	PUNCT
faba-177	359	1	their	their	PRON
faba-177	359	2	model	model	NOUN
faba-177	359	3	forms	form	VERB
faba-177	359	4	a	a	DET
faba-177	359	5	pioneering	pioneer	VERB
faba-177	359	6	template	template	NOUN
faba-177	359	7	as	as	SCONJ
faba-177	359	8	indonesia	indonesia	PROPN
faba-177	359	9	progresses	progress	VERB
faba-177	359	10	towards	towards	ADP
faba-177	359	11	an	an	DET
faba-177	359	12	equitable	equitable	ADJ
faba-177	359	13	crowdfunding	crowdfunding	NOUN
faba-177	359	14	ecosystem	ecosystem	NOUN
faba-177	359	15	advancing	advance	VERB
faba-177	359	16	inclusion	inclusion	NOUN
faba-177	359	17	while	while	SCONJ
faba-177	359	18	ensuring	ensure	VERB
faba-177	359	19	prudent	prudent	ADJ
faba-177	359	20	practices	practice	NOUN
faba-177	359	21	.	.	PUNCT
faba-177	360	1	in	in	ADP
faba-177	360	2	summary	summary	NOUN
faba-177	360	3	,	,	PUNCT
faba-177	360	4	analysis	analysis	NOUN
faba-177	360	5	of	of	ADP
faba-177	360	6	the	the	DET
faba-177	360	7	landx	landx	ADJ
faba-177	360	8	platform	platform	NOUN
faba-177	360	9	provides	provide	VERB
faba-177	360	10	optimistic	optimistic	ADJ
faba-177	360	11	signals	signal	NOUN
faba-177	360	12	of	of	ADP
faba-177	360	13	progress	progress	NOUN
faba-177	360	14	in	in	ADP
faba-177	360	15	localizing	localize	VERB
faba-177	360	16	equity	equity	NOUN
faba-177	360	17	crowdfunding	crowdfunding	NOUN
faba-177	360	18	as	as	ADP
faba-177	360	19	an	an	DET
faba-177	360	20	alternative	alternative	ADJ
faba-177	360	21	funding	funding	NOUN
faba-177	360	22	model	model	NOUN
faba-177	360	23	in	in	ADP
faba-177	360	24	indonesia	indonesia	PROPN
faba-177	360	25	,	,	PUNCT
faba-177	360	26	balanced	balance	VERB
faba-177	360	27	by	by	ADP
faba-177	360	28	areas	area	NOUN
faba-177	360	29	warranting	warrant	VERB
faba-177	360	30	ongoing	ongoing	ADJ
faba-177	360	31	enhancement	enhancement	NOUN
faba-177	360	32	and	and	CCONJ
faba-177	360	33	realistic	realistic	ADJ
faba-177	360	34	expectations	expectation	NOUN
faba-177	360	35	.	.	PUNCT
faba-177	361	1	the	the	DET
faba-177	361	2	findings	finding	NOUN
faba-177	361	3	reveal	reveal	VERB
faba-177	361	4	key	key	ADJ
faba-177	361	5	strengths	strength	NOUN
faba-177	361	6	in	in	ADP
faba-177	361	7	due	due	ADJ
faba-177	361	8	diligence	diligence	NOUN
faba-177	361	9	,	,	PUNCT
faba-177	361	10	resource	resource	NOUN
faba-177	361	11	provision	provision	NOUN
faba-177	361	12	and	and	CCONJ
faba-177	361	13	self	self	NOUN
faba-177	361	14	-	-	PUNCT
faba-177	361	15	regulation	regulation	NOUN
faba-177	361	16	,	,	PUNCT
faba-177	361	17	counterposed	counterpose	VERB
faba-177	361	18	by	by	ADP
faba-177	361	19	opportunities	opportunity	NOUN
faba-177	361	20	to	to	PART
faba-177	361	21	leverage	leverage	VERB
faba-177	361	22	technology	technology	NOUN
faba-177	361	23	,	,	PUNCT
faba-177	361	24	customize	customize	VERB
faba-177	361	25	investor	investor	NOUN
faba-177	361	26	engagement	engagement	NOUN
faba-177	361	27	,	,	PUNCT
faba-177	361	28	implement	implement	VERB
faba-177	361	29	formal	formal	ADJ
faba-177	361	30	governance	governance	NOUN
faba-177	361	31	structures	structure	NOUN
faba-177	361	32	and	and	CCONJ
faba-177	361	33	transparently	transparently	ADV
faba-177	361	34	demonstrate	demonstrate	VERB
faba-177	361	35	outcomes	outcome	NOUN
faba-177	361	36	.	.	PUNCT
faba-177	362	1	longitudinal	longitudinal	ADJ
faba-177	362	2	tracking	tracking	NOUN
faba-177	362	3	of	of	ADP
faba-177	362	4	diverse	diverse	ADJ
faba-177	362	5	platforms	platform	NOUN
faba-177	362	6	and	and	CCONJ
faba-177	362	7	perspective	perspective	NOUN
faba-177	362	8	can	can	AUX
faba-177	362	9	enrich	enrich	VERB
faba-177	362	10	insights	insight	NOUN
faba-177	362	11	.	.	PUNCT
faba-177	363	1	but	but	CCONJ
faba-177	363	2	this	this	DET
faba-177	363	3	exploratory	exploratory	ADJ
faba-177	363	4	single	single	ADJ
faba-177	363	5	case	case	NOUN
faba-177	363	6	study	study	NOUN
faba-177	363	7	offers	offer	VERB
faba-177	363	8	a	a	DET
faba-177	363	9	valuable	valuable	ADJ
faba-177	363	10	foundation	foundation	NOUN
faba-177	363	11	illuminating	illuminate	VERB
faba-177	363	12	the	the	DET
faba-177	363	13	considered	consider	VERB
faba-177	363	14	balance	balance	NOUN
faba-177	363	15	of	of	ADP
faba-177	363	16	risk	risk	NOUN
faba-177	363	17	and	and	CCONJ
faba-177	363	18	potential	potential	NOUN
faba-177	363	19	required	require	VERB
faba-177	363	20	to	to	PART
faba-177	363	21	judiciously	judiciously	ADV
faba-177	363	22	scale	scale	VERB
faba-177	363	23	a	a	DET
faba-177	363	24	pioneering	pioneering	ADJ
faba-177	363	25	financial	financial	ADJ
faba-177	363	26	innovation	innovation	NOUN
faba-177	363	27	conclusion	conclusion	NOUN
faba-177	363	28	this	this	DET
faba-177	363	29	exploratory	exploratory	ADJ
faba-177	363	30	single	single	ADJ
faba-177	363	31	case	case	NOUN
faba-177	363	32	study	study	NOUN
faba-177	363	33	investigating	investigate	VERB
faba-177	363	34	indonesia	indonesia	PROPN
faba-177	363	35	's	's	PART
faba-177	363	36	landx	landx	ADJ
faba-177	363	37	platform	platform	NOUN
faba-177	363	38	provides	provide	VERB
faba-177	363	39	timely	timely	ADJ
faba-177	363	40	insight	insight	NOUN
faba-177	363	41	into	into	ADP
faba-177	363	42	the	the	DET
faba-177	363	43	operational	operational	ADJ
faba-177	363	44	processes	process	NOUN
faba-177	363	45	,	,	PUNCT
faba-177	363	46	incentives	incentive	NOUN
faba-177	363	47	,	,	PUNCT
faba-177	363	48	oversight	oversight	NOUN
faba-177	363	49	and	and	CCONJ
faba-177	363	50	outcomes	outcome	NOUN
faba-177	363	51	associated	associate	VERB
faba-177	363	52	with	with	ADP
faba-177	363	53	pioneering	pioneer	VERB
faba-177	363	54	equity	equity	NOUN
faba-177	363	55	crowdfunding	crowdfunding	NOUN
faba-177	363	56	models	model	NOUN
faba-177	363	57	in	in	ADP
faba-177	363	58	emerging	emerge	VERB
faba-177	363	59	economies	economy	NOUN
faba-177	363	60	.	.	PUNCT
faba-177	364	1	the	the	DET
faba-177	364	2	research	research	NOUN
faba-177	364	3	reveals	reveal	VERB
faba-177	364	4	landx	landx	NOUN
faba-177	364	5	has	have	AUX
faba-177	364	6	instituted	institute	VERB
faba-177	364	7	laudable	laudable	ADJ
faba-177	364	8	strengths	strength	NOUN
faba-177	364	9	in	in	ADP
faba-177	364	10	due	due	ADJ
faba-177	364	11	diligence	diligence	NOUN
faba-177	364	12	,	,	PUNCT
faba-177	364	13	value	value	NOUN
faba-177	364	14	-	-	PUNCT
faba-177	364	15	added	add	VERB
faba-177	364	16	resources	resource	NOUN
faba-177	364	17	for	for	ADP
faba-177	364	18	issuers	issuer	NOUN
faba-177	364	19	,	,	PUNCT
faba-177	364	20	and	and	CCONJ
faba-177	364	21	proactive	proactive	ADJ
faba-177	364	22	governance	governance	NOUN
faba-177	364	23	amid	amid	ADP
faba-177	364	24	fluid	fluid	ADJ
faba-177	364	25	regulations	regulation	NOUN
faba-177	364	26	.	.	PUNCT
faba-177	365	1	this	this	PRON
faba-177	365	2	demonstrates	demonstrate	VERB
faba-177	365	3	meaningful	meaningful	ADJ
faba-177	365	4	progress	progress	NOUN
faba-177	365	5	in	in	ADP
faba-177	365	6	localizing	localize	VERB
faba-177	365	7	equity	equity	NOUN
faba-177	365	8	crowdfunding	crowdfunding	NOUN
faba-177	365	9	as	as	ADP
faba-177	365	10	an	an	DET
faba-177	365	11	alternative	alternative	ADJ
faba-177	365	12	sme	sme	ADJ
faba-177	365	13	financing	financing	NOUN
faba-177	365	14	method	method	NOUN
faba-177	365	15	aligned	align	VERB
faba-177	365	16	to	to	ADP
faba-177	365	17	indonesia	indonesia	PROPN
faba-177	365	18	's	's	PART
faba-177	365	19	unique	unique	ADJ
faba-177	365	20	landscape	landscape	NOUN
faba-177	365	21	.	.	PUNCT
faba-177	366	1	however	however	ADV
faba-177	366	2	,	,	PUNCT
faba-177	366	3	prudent	prudent	ADJ
faba-177	366	4	opportunities	opportunity	NOUN
faba-177	366	5	exist	exist	VERB
faba-177	366	6	to	to	PART
faba-177	366	7	enhance	enhance	VERB
faba-177	366	8	predictive	predictive	ADJ
faba-177	366	9	technologies	technology	NOUN
faba-177	366	10	,	,	PUNCT
faba-177	366	11	customize	customize	VERB
faba-177	366	12	investor	investor	NOUN
faba-177	366	13	engagement	engagement	NOUN
faba-177	366	14	,	,	PUNCT
faba-177	366	15	implement	implement	VERB
faba-177	366	16	formal	formal	ADJ
faba-177	366	17	protections	protection	NOUN
faba-177	366	18	,	,	PUNCT
faba-177	366	19	and	and	CCONJ
faba-177	366	20	responsibly	responsibly	ADV
faba-177	366	21	demonstrate	demonstrate	VERB
faba-177	366	22	outcomes	outcome	NOUN
faba-177	366	23	as	as	SCONJ
faba-177	366	24	the	the	DET
faba-177	366	25	model	model	NOUN
faba-177	366	26	reaches	reach	VERB
faba-177	366	27	scale	scale	NOUN
faba-177	366	28	.	.	PUNCT
faba-177	367	1	the	the	DET
faba-177	367	2	research	research	NOUN
faba-177	367	3	makes	make	VERB
faba-177	367	4	a	a	DET
faba-177	367	5	valuable	valuable	ADJ
faba-177	367	6	contribution	contribution	NOUN
faba-177	367	7	towards	towards	ADP
faba-177	367	8	addressing	address	VERB
faba-177	367	9	the	the	DET
faba-177	367	10	lack	lack	NOUN
faba-177	367	11	of	of	ADP
faba-177	367	12	scholarly	scholarly	ADJ
faba-177	367	13	attention	attention	NOUN
faba-177	367	14	on	on	ADP
faba-177	367	15	equity	equity	NOUN
faba-177	367	16	crowdfunding	crowdfunding	NOUN
faba-177	367	17	dynamics	dynamic	NOUN
faba-177	367	18	in	in	ADP
faba-177	367	19	emerging	emerge	VERB
faba-177	367	20	economies	economy	NOUN
faba-177	367	21	like	like	ADP
faba-177	367	22	indonesia	indonesia	PROPN
faba-177	367	23	.	.	PUNCT
faba-177	368	1	findings	finding	NOUN
faba-177	368	2	reveal	reveal	VERB
faba-177	368	3	balanced	balanced	ADJ
faba-177	368	4	strengths	strength	NOUN
faba-177	368	5	in	in	ADP
faba-177	368	6	due	due	ADJ
faba-177	368	7	diligence	diligence	NOUN
faba-177	368	8	,	,	PUNCT
faba-177	368	9	resource	resource	NOUN
faba-177	368	10	provision	provision	NOUN
faba-177	368	11	and	and	CCONJ
faba-177	368	12	self	self	NOUN
faba-177	368	13	-	-	PUNCT
faba-177	368	14	regulation	regulation	NOUN
faba-177	368	15	,	,	PUNCT
faba-177	368	16	along	along	ADP
faba-177	368	17	with	with	ADP
faba-177	368	18	prudent	prudent	ADJ
faba-177	368	19	opportunities	opportunity	NOUN
faba-177	368	20	to	to	PART
faba-177	368	21	further	far	ADV
faba-177	368	22	enhance	enhance	VERB
faba-177	368	23	predictive	predictive	ADJ
faba-177	368	24	technologies	technology	NOUN
faba-177	368	25	,	,	PUNCT
faba-177	368	26	customize	customize	VERB
faba-177	368	27	investor	investor	NOUN
faba-177	368	28	engagement	engagement	NOUN
faba-177	368	29	,	,	PUNCT
faba-177	368	30	implement	implement	VERB
faba-177	368	31	governance	governance	NOUN
faba-177	368	32	structures	structure	NOUN
faba-177	368	33	and	and	CCONJ
faba-177	368	34	demonstrate	demonstrate	VERB
faba-177	368	35	outcomes	outcome	NOUN
faba-177	368	36	.	.	PUNCT
faba-177	369	1	landx	landx	PROPN
faba-177	369	2	exemplifies	exemplify	VERB
faba-177	369	3	considered	consider	VERB
faba-177	369	4	modulation	modulation	NOUN
faba-177	369	5	of	of	ADP
faba-177	369	6	risk	risk	NOUN
faba-177	369	7	and	and	CCONJ
faba-177	369	8	potential	potential	ADJ
faba-177	369	9	required	require	VERB
faba-177	369	10	when	when	SCONJ
faba-177	369	11	fostering	foster	VERB
faba-177	369	12	a	a	DET
faba-177	369	13	nascent	nascent	ADJ
faba-177	369	14	financial	financial	ADJ
faba-177	369	15	innovation	innovation	NOUN
faba-177	369	16	.	.	PUNCT
faba-177	370	1	the	the	DET
faba-177	370	2	findings	finding	NOUN
faba-177	370	3	will	will	AUX
faba-177	370	4	inform	inform	VERB
faba-177	370	5	policymakers	policymaker	NOUN
faba-177	370	6	,	,	PUNCT
faba-177	370	7	regulators	regulator	NOUN
faba-177	370	8	,	,	PUNCT
faba-177	370	9	platforms	platform	NOUN
faba-177	370	10	,	,	PUNCT
faba-177	370	11	scholars	scholar	NOUN
faba-177	370	12	,	,	PUNCT
faba-177	370	13	and	and	CCONJ
faba-177	370	14	industry	industry	NOUN
faba-177	370	15	associations	association	NOUN
faba-177	370	16	collaborating	collaborate	VERB
faba-177	370	17	to	to	PART
faba-177	370	18	develop	develop	VERB
faba-177	370	19	balanced	balanced	ADJ
faba-177	370	20	equity	equity	NOUN
faba-177	370	21	crowdfunding	crowdfunding	NOUN
faba-177	370	22	ecosystems	ecosystem	NOUN
faba-177	370	23	advancing	advance	VERB
faba-177	370	24	inclusion	inclusion	NOUN
faba-177	370	25	without	without	ADP
faba-177	370	26	undue	undue	ADJ
faba-177	370	27	risk	risk	NOUN
faba-177	370	28	.	.	PUNCT
faba-177	371	1	further	further	ADJ
faba-177	371	2	research	research	NOUN
faba-177	371	3	tracking	tracking	NOUN
faba-177	371	4	metrics	metric	NOUN
faba-177	371	5	like	like	ADP
faba-177	371	6	financial	financial	ADJ
faba-177	371	7	sustainability	sustainability	NOUN
faba-177	371	8	,	,	PUNCT
faba-177	371	9	failure	failure	NOUN
faba-177	371	10	rates	rate	NOUN
faba-177	371	11	,	,	PUNCT
faba-177	371	12	and	and	CCONJ
faba-177	371	13	investor	investor	NOUN
faba-177	371	14	satisfaction	satisfaction	NOUN
faba-177	371	15	over	over	ADP
faba-177	371	16	long	long	ADJ
faba-177	371	17	time	time	NOUN
faba-177	371	18	horizons	horizon	NOUN
faba-177	371	19	can	can	AUX
faba-177	371	20	enrich	enrich	VERB
faba-177	371	21	insights	insight	NOUN
faba-177	371	22	.	.	PUNCT
faba-177	372	1	comparing	compare	VERB
faba-177	372	2	crowdfunded	crowdfunde	VERB
faba-177	372	3	ventures	venture	NOUN
faba-177	372	4	against	against	ADP
faba-177	372	5	controls	control	NOUN
faba-177	372	6	would	would	AUX
faba-177	372	7	further	far	ADV
faba-177	372	8	isolate	isolate	VERB
faba-177	372	9	funding	funding	NOUN
faba-177	372	10	impacts	impact	NOUN
faba-177	372	11	.	.	PUNCT
faba-177	373	1	understanding	understand	VERB
faba-177	373	2	additional	additional	ADJ
faba-177	373	3	stakeholder	stakeholder	NOUN
faba-177	373	4	perspectives	perspective	NOUN
faba-177	373	5	offers	offer	VERB
faba-177	373	6	rounded	rounded	ADJ
faba-177	373	7	comprehension	comprehension	NOUN
faba-177	373	8	.	.	PUNCT
faba-177	374	1	surveying	survey	VERB
faba-177	374	2	diverse	diverse	ADJ
faba-177	374	3	platforms	platform	NOUN
faba-177	374	4	and	and	CCONJ
faba-177	374	5	stakeholders	stakeholder	NOUN
faba-177	374	6	can	can	AUX
faba-177	374	7	round	round	VERB
faba-177	374	8	out	out	ADP
faba-177	374	9	perspectives	perspective	NOUN
faba-177	374	10	.	.	PUNCT
faba-177	375	1	this	this	DET
faba-177	375	2	study	study	NOUN
faba-177	375	3	provides	provide	VERB
faba-177	375	4	a	a	DET
faba-177	375	5	valuable	valuable	ADJ
faba-177	375	6	exploratory	exploratory	ADJ
faba-177	375	7	foundation	foundation	NOUN
faba-177	375	8	illuminating	illuminate	VERB
faba-177	375	9	the	the	DET
faba-177	375	10	promises	promise	NOUN
faba-177	375	11	,	,	PUNCT
faba-177	375	12	realities	reality	NOUN
faba-177	375	13	and	and	CCONJ
faba-177	375	14	judicious	judicious	ADJ
faba-177	375	15	steps	step	NOUN
faba-177	375	16	needed	need	VERB
faba-177	375	17	to	to	PART
faba-177	375	18	scale	scale	VERB
faba-177	375	19	equity	equity	NOUN
faba-177	375	20	crowdfunding	crowdfunding	NOUN
faba-177	375	21	sustainably	sustainably	ADV
faba-177	375	22	in	in	ADP
faba-177	375	23	indonesia	indonesia	PROPN
faba-177	375	24	.	.	PUNCT
faba-177	376	1	the	the	DET
faba-177	376	2	balanced	balanced	ADJ
faba-177	376	3	strengths	strength	NOUN
faba-177	376	4	and	and	CCONJ
faba-177	376	5	opportunities	opportunity	NOUN
faba-177	376	6	uncovered	uncover	VERB
faba-177	376	7	through	through	ADP
faba-177	376	8	landx	landx	ADJ
faba-177	376	9	demonstrate	demonstrate	NOUN
faba-177	376	10	that	that	SCONJ
faba-177	376	11	realizing	realize	VERB
faba-177	376	12	the	the	DET
faba-177	376	13	potential	potential	NOUN
faba-177	376	14	of	of	ADP
faba-177	376	15	crowdfunding	crowdfunding	NOUN
faba-177	376	16	necessitates	necessitate	VERB
faba-177	376	17	evidence	evidence	NOUN
faba-177	376	18	-	-	PUNCT
faba-177	376	19	based	base	VERB
faba-177	376	20	policies	policy	NOUN
faba-177	376	21	and	and	CCONJ
faba-177	376	22	practices	practice	NOUN
faba-177	376	23	crafted	craft	VERB
faba-177	376	24	through	through	ADP
faba-177	376	25	coordinated	coordinated	ADJ
faba-177	376	26	efforts	effort	NOUN
faba-177	376	27	of	of	ADP
faba-177	376	28	all	all	DET
faba-177	376	29	actors	actor	NOUN
faba-177	376	30	.	.	PUNCT
faba-177	377	1	while	while	SCONJ
faba-177	377	2	generalizations	generalization	NOUN
faba-177	377	3	are	be	AUX
faba-177	377	4	limited	limit	VERB
faba-177	377	5	without	without	ADP
faba-177	377	6	wider	wide	ADJ
faba-177	377	7	investigation	investigation	NOUN
faba-177	377	8	,	,	PUNCT
faba-177	377	9	the	the	DET
faba-177	377	10	in	in	ADP
faba-177	377	11	-	-	PUNCT
faba-177	377	12	depth	depth	NOUN
faba-177	377	13	analysis	analysis	NOUN
faba-177	377	14	provides	provide	VERB
faba-177	377	15	pioneer	pioneer	NOUN
faba-177	377	16	understandings	understanding	NOUN
faba-177	377	17	that	that	PRON
faba-177	377	18	set	set	VERB
faba-177	377	19	the	the	DET
faba-177	377	20	stage	stage	NOUN
faba-177	377	21	for	for	ADP
faba-177	377	22	ongoing	ongoing	ADJ
faba-177	377	23	inquiry	inquiry	NOUN
faba-177	377	24	to	to	PART
faba-177	377	25	responsibly	responsibly	ADV
faba-177	377	26	shape	shape	VERB
faba-177	377	27	equity	equity	NOUN
faba-177	377	28	crowdfunding	crowdfunding	NOUN
faba-177	377	29	's	's	PART
faba-177	377	30	emergence	emergence	NOUN
faba-177	377	31	.	.	PUNCT
faba-177	378	1	while	while	SCONJ
faba-177	378	2	limited	limit	VERB
faba-177	378	3	in	in	ADP
faba-177	378	4	generalizability	generalizability	NOUN
faba-177	378	5	as	as	ADP
faba-177	378	6	a	a	DET
faba-177	378	7	single	single	ADJ
faba-177	378	8	case	case	NOUN
faba-177	378	9	study	study	NOUN
faba-177	378	10	,	,	PUNCT
faba-177	378	11	the	the	DET
faba-177	378	12	in	in	ADP
faba-177	378	13	-	-	PUNCT
faba-177	378	14	depth	depth	NOUN
faba-177	378	15	investigation	investigation	NOUN
faba-177	378	16	nonetheless	nonetheless	ADV
faba-177	378	17	offers	offer	VERB
faba-177	378	18	considered	consider	VERB
faba-177	378	19	foundational	foundational	ADJ
faba-177	378	20	insights	insight	NOUN
faba-177	378	21	to	to	PART
faba-177	378	22	guide	guide	VERB
faba-177	378	23	equitable	equitable	ADJ
faba-177	378	24	ecosystem	ecosystem	NOUN
faba-177	378	25	development	development	NOUN
faba-177	378	26	.	.	PUNCT
faba-177	379	1	however	however	ADV
faba-177	379	2	,	,	PUNCT
faba-177	379	3	findings	finding	NOUN
faba-177	379	4	should	should	AUX
faba-177	379	5	be	be	AUX
faba-177	379	6	applied	apply	VERB
faba-177	379	7	with	with	ADP
faba-177	379	8	acknowledging	acknowledge	VERB
faba-177	379	9	limitations	limitation	NOUN
faba-177	379	10	including	include	VERB
faba-177	379	11	sample	sample	NOUN
faba-177	379	12	size	size	NOUN
faba-177	379	13	and	and	CCONJ
faba-177	379	14	data	datum	NOUN
faba-177	379	15	sufficiency	sufficiency	NOUN
faba-177	379	16	constraints	constraint	NOUN
faba-177	379	17	typical	typical	ADJ
faba-177	379	18	of	of	ADP
faba-177	379	19	investigating	investigate	VERB
faba-177	379	20	nascent	nascent	ADJ
faba-177	379	21	industries	industry	NOUN
faba-177	379	22	.	.	PUNCT
faba-177	380	1	sanjaya	sanjaya	PROPN
faba-177	380	2	and	and	CCONJ
faba-177	380	3	koesrindartoto	koesrindartoto	PROPN
faba-177	380	4	/	/	SYM
faba-177	380	5	finance	finance	NOUN
faba-177	380	6	,	,	PUNCT
faba-177	380	7	accounting	accounting	NOUN
faba-177	380	8	and	and	CCONJ
faba-177	380	9	business	business	NOUN
faba-177	380	10	analysis	analysis	NOUN
faba-177	380	11	,	,	PUNCT
faba-177	380	12	volume	volume	NOUN
faba-177	380	13	5	5	NUM
faba-177	380	14	,	,	PUNCT
faba-177	380	15	issue	issue	NOUN
faba-177	380	16	2	2	NUM
faba-177	380	17	,	,	PUNCT
faba-177	380	18	2023	2023	NUM
faba-177	380	19	185	185	NUM
faba-177	380	20	overall	overall	NOUN
faba-177	380	21	,	,	PUNCT
faba-177	380	22	the	the	DET
faba-177	380	23	landx	landx	ADJ
faba-177	380	24	case	case	NOUN
faba-177	380	25	study	study	NOUN
faba-177	380	26	yields	yield	NOUN
faba-177	380	27	cautiously	cautiously	ADV
faba-177	380	28	optimistic	optimistic	ADJ
faba-177	380	29	signals	signal	NOUN
faba-177	380	30	regarding	regard	VERB
faba-177	380	31	equity	equity	NOUN
faba-177	380	32	crowdfunding	crowdfunding	NOUN
faba-177	380	33	's	's	PART
faba-177	380	34	viability	viability	NOUN
faba-177	380	35	as	as	ADP
faba-177	380	36	a	a	DET
faba-177	380	37	democratized	democratized	ADJ
faba-177	380	38	,	,	PUNCT
faba-177	380	39	inclusive	inclusive	ADJ
faba-177	380	40	funding	funding	NOUN
faba-177	380	41	model	model	NOUN
faba-177	380	42	in	in	ADP
faba-177	380	43	indonesia	indonesia	PROPN
faba-177	380	44	,	,	PUNCT
faba-177	380	45	balanced	balance	VERB
faba-177	380	46	by	by	ADP
faba-177	380	47	clear	clear	ADJ
faba-177	380	48	imperatives	imperative	NOUN
faba-177	380	49	for	for	ADP
faba-177	380	50	prudent	prudent	ADJ
faba-177	380	51	advancement	advancement	NOUN
faba-177	380	52	.	.	PUNCT
faba-177	381	1	the	the	DET
faba-177	381	2	research	research	NOUN
faba-177	381	3	carries	carry	VERB
faba-177	381	4	valuable	valuable	ADJ
faba-177	381	5	implications	implication	NOUN
faba-177	381	6	for	for	ADP
faba-177	381	7	platforms	platform	NOUN
faba-177	381	8	,	,	PUNCT
faba-177	381	9	policymakers	policymaker	NOUN
faba-177	381	10	,	,	PUNCT
faba-177	381	11	investors	investor	NOUN
faba-177	381	12	and	and	CCONJ
faba-177	381	13	scholars	scholar	NOUN
faba-177	381	14	collaborating	collaborate	VERB
faba-177	381	15	to	to	PART
faba-177	381	16	develop	develop	VERB
faba-177	381	17	constructive	constructive	ADJ
faba-177	381	18	frameworks	framework	NOUN
faba-177	381	19	informed	inform	VERB
faba-177	381	20	by	by	ADP
faba-177	381	21	contextual	contextual	ADJ
faba-177	381	22	priorities	priority	NOUN
faba-177	381	23	.	.	PUNCT
faba-177	382	1	further	further	ADJ
faba-177	382	2	attention	attention	NOUN
faba-177	382	3	to	to	ADP
faba-177	382	4	long	long	ADJ
faba-177	382	5	-	-	PUNCT
faba-177	382	6	term	term	NOUN
faba-177	382	7	impacts	impact	NOUN
faba-177	382	8	,	,	PUNCT
faba-177	382	9	diverse	diverse	ADJ
faba-177	382	10	structures	structure	NOUN
faba-177	382	11	,	,	PUNCT
faba-177	382	12	and	and	CCONJ
faba-177	382	13	stakeholder	stakeholder	NOUN
faba-177	382	14	motivations	motivation	NOUN
faba-177	382	15	can	can	AUX
faba-177	382	16	enrich	enrich	VERB
faba-177	382	17	perspectives	perspective	NOUN
faba-177	382	18	to	to	PART
faba-177	382	19	guide	guide	VERB
faba-177	382	20	optimal	optimal	ADJ
faba-177	382	21	ecosystem	ecosystem	NOUN
faba-177	382	22	maturation	maturation	NOUN
faba-177	382	23	.	.	PUNCT
faba-177	383	1	this	this	DET
faba-177	383	2	exploratory	exploratory	ADJ
faba-177	383	3	study	study	NOUN
faba-177	383	4	provides	provide	VERB
faba-177	383	5	a	a	DET
faba-177	383	6	useful	useful	ADJ
faba-177	383	7	foundation	foundation	NOUN
faba-177	383	8	contributing	contribute	VERB
faba-177	383	9	considered	consider	VERB
faba-177	383	10	insights	insight	NOUN
faba-177	383	11	that	that	PRON
faba-177	383	12	will	will	AUX
faba-177	383	13	empower	empower	VERB
faba-177	383	14	stakeholders	stakeholder	NOUN
faba-177	383	15	to	to	PART
faba-177	383	16	thoughtfully	thoughtfully	ADV
faba-177	383	17	harness	harness	VERB
faba-177	383	18	the	the	DET
faba-177	383	19	promises	promise	NOUN
faba-177	383	20	of	of	ADP
faba-177	383	21	equity	equity	NOUN
faba-177	383	22	crowdfunding	crowdfunding	NOUN
faba-177	383	23	in	in	ADP
faba-177	383	24	powering	power	VERB
faba-177	383	25	financial	financial	ADJ
faba-177	383	26	innovation	innovation	NOUN
faba-177	383	27	across	across	ADP
faba-177	383	28	indonesia	indonesia	PROPN
faba-177	383	29	.	.	PUNCT
faba-177	384	1	the	the	DET
faba-177	384	2	knowledge	knowledge	NOUN
faba-177	384	3	contributes	contribute	VERB
faba-177	384	4	to	to	ADP
faba-177	384	5	informed	inform	VERB
faba-177	384	6	policies	policy	NOUN
faba-177	384	7	and	and	CCONJ
faba-177	384	8	practices	practice	NOUN
faba-177	384	9	that	that	DET
faba-177	384	10	harness	harness	ADJ
faba-177	384	11	innovation	innovation	NOUN
faba-177	384	12	for	for	ADP
faba-177	384	13	inclusion	inclusion	NOUN
faba-177	384	14	while	while	SCONJ
faba-177	384	15	ensuring	ensure	VERB
faba-177	384	16	investor	investor	NOUN
faba-177	384	17	protections	protection	NOUN
faba-177	384	18	.	.	PUNCT
faba-177	385	1	references	reference	NOUN
faba-177	385	2	afuah	afuah	VERB
faba-177	385	3	,	,	PUNCT
faba-177	385	4	a.	a.	NOUN
faba-177	385	5	,	,	PUNCT
faba-177	385	6	and	and	CCONJ
faba-177	385	7	c.	c.	PROPN
faba-177	385	8	l.	l.	PROPN
faba-177	385	9	tucci	tucci	PROPN
faba-177	385	10	.	.	PUNCT
faba-177	386	1	2012	2012	NUM
faba-177	386	2	.	.	PUNCT
faba-177	387	1	crowdsourcing	crowdsource	VERB
faba-177	387	2	as	as	ADP
faba-177	387	3	a	a	DET
faba-177	387	4	solution	solution	NOUN
faba-177	387	5	to	to	ADP
faba-177	387	6	distant	distant	ADJ
faba-177	387	7	search	search	NOUN
faba-177	387	8	.	.	PUNCT
faba-177	388	1	academy	academy	PROPN
faba-177	388	2	of	of	ADP
faba-177	388	3	management	management	PROPN
faba-177	388	4	review	review	PROPN
faba-177	388	5	,	,	PUNCT
faba-177	388	6	37(3	37(3	NUM
faba-177	388	7	):	):	PUNCT
faba-177	388	8	355–375	355–375	NUM
faba-177	388	9	.	.	PUNCT
faba-177	389	1	agrawal	agrawal	PROPN
faba-177	389	2	,	,	PUNCT
faba-177	389	3	a.	a.	PROPN
faba-177	389	4	,	,	PUNCT
faba-177	389	5	c.	c.	PROPN
faba-177	389	6	catalini	catalini	PROPN
faba-177	389	7	,	,	PUNCT
faba-177	389	8	and	and	CCONJ
faba-177	389	9	a.	a.	NOUN
faba-177	389	10	goldfarb	goldfarb	PROPN
faba-177	389	11	.	.	PUNCT
faba-177	389	12	2015	2015	NUM
faba-177	389	13	.	.	PUNCT
faba-177	389	14	are	be	AUX
faba-177	389	15	syndicates	syndicate	NOUN
faba-177	389	16	the	the	DET
faba-177	389	17	killer	killer	PROPN
faba-177	389	18	app	app	NOUN
faba-177	389	19	of	of	ADP
faba-177	389	20	equity	equity	NOUN
faba-177	389	21	crowdfunding	crowdfunding	NOUN
faba-177	389	22	?	?	PUNCT
faba-177	390	1	california	california	PROPN
faba-177	390	2	management	management	PROPN
faba-177	390	3	review	review	PROPN
faba-177	390	4	,	,	PUNCT
faba-177	390	5	58(2	58(2	NUM
faba-177	390	6	):	):	PUNCT
faba-177	390	7	111–124	111–124	NUM
faba-177	390	8	.	.	PUNCT
faba-177	390	9	angerer	angerer	PROPN
faba-177	390	10	,	,	PUNCT
faba-177	390	11	m.	m.	NOUN
faba-177	390	12	,	,	PUNCT
faba-177	390	13	a.	a.	PROPN
faba-177	390	14	brem	brem	PROPN
faba-177	390	15	,	,	PUNCT
faba-177	390	16	s.	s.	PROPN
faba-177	390	17	kraus	kraus	PROPN
faba-177	390	18	,	,	PUNCT
faba-177	390	19	and	and	CCONJ
faba-177	390	20	m.	m.	NOUN
faba-177	390	21	schaffler	schaffler	NOUN
faba-177	390	22	.	.	PUNCT
faba-177	391	1	2021	2021	NUM
faba-177	391	2	.	.	PUNCT
faba-177	392	1	the	the	DET
faba-177	392	2	motivations	motivation	NOUN
faba-177	392	3	of	of	ADP
faba-177	392	4	crowd	crowd	NOUN
faba-177	392	5	investors	investor	NOUN
faba-177	392	6	:	:	PUNCT
faba-177	392	7	a	a	DET
faba-177	392	8	metastudy	metastudy	NOUN
faba-177	392	9	.	.	PUNCT
faba-177	393	1	international	international	ADJ
faba-177	393	2	journal	journal	PROPN
faba-177	393	3	of	of	ADP
faba-177	393	4	entrepreneurial	entrepreneurial	ADJ
faba-177	393	5	behavior	behavior	NOUN
faba-177	393	6	&	&	CCONJ
faba-177	393	7	research	research	PROPN
faba-177	393	8	,	,	PUNCT
faba-177	393	9	27(1	27(1	NUM
faba-177	393	10	):	):	PUNCT
faba-177	393	11	33–56	33–56	NUM
faba-177	393	12	.	.	PUNCT
faba-177	394	1	anderson	anderson	PROPN
faba-177	394	2	,	,	PUNCT
faba-177	394	3	b.	b.	PROPN
faba-177	394	4	2023	2023	NUM
faba-177	394	5	.	.	PUNCT
faba-177	395	1	application	application	NOUN
faba-177	395	2	of	of	ADP
faba-177	395	3	machine	machine	NOUN
faba-177	395	4	learning	learn	VERB
faba-177	395	5	to	to	ADP
faba-177	395	6	equity	equity	NOUN
faba-177	395	7	crowdfunding	crowdfunding	NOUN
faba-177	395	8	platform	platform	NOUN
faba-177	395	9	due	due	ADJ
faba-177	395	10	diligence	diligence	NOUN
faba-177	395	11	.	.	PUNCT
faba-177	396	1	master	master	NOUN
faba-177	396	2	's	's	PART
faba-177	396	3	thesis	thesis	NOUN
faba-177	396	4	,	,	PUNCT
faba-177	396	5	mit	mit	PROPN
faba-177	396	6	sloan	sloan	PROPN
faba-177	396	7	school	school	NOUN
faba-177	396	8	of	of	ADP
faba-177	396	9	management	management	NOUN
faba-177	396	10	.	.	PUNCT
faba-177	397	1	baeck	baeck	PROPN
faba-177	397	2	,	,	PUNCT
faba-177	397	3	p.	p.	PROPN
faba-177	397	4	,	,	PUNCT
faba-177	397	5	l.	l.	PROPN
faba-177	397	6	collins	collins	PROPN
faba-177	397	7	,	,	PUNCT
faba-177	397	8	and	and	CCONJ
faba-177	397	9	b.	b.	PROPN
faba-177	397	10	zhang	zhang	PROPN
faba-177	397	11	.	.	PROPN
faba-177	397	12	2014	2014	NUM
faba-177	397	13	.	.	PUNCT
faba-177	398	1	understanding	understand	VERB
faba-177	398	2	alternative	alternative	ADJ
faba-177	398	3	finance	finance	NOUN
faba-177	398	4	:	:	PUNCT
faba-177	398	5	the	the	DET
faba-177	398	6	uk	uk	PROPN
faba-177	398	7	alternative	alternative	ADJ
faba-177	398	8	finance	finance	NOUN
faba-177	398	9	report	report	NOUN
faba-177	398	10	2014	2014	NUM
faba-177	398	11	.	.	PUNCT
faba-177	399	1	cambridge	cambridge	PROPN
faba-177	399	2	centre	centre	PROPN
faba-177	399	3	for	for	ADP
faba-177	399	4	alternative	alternative	ADJ
faba-177	399	5	finance	finance	NOUN
faba-177	399	6	.	.	PUNCT
faba-177	400	1	last	last	ADJ
faba-177	400	2	modified	modified	ADJ
faba-177	400	3	november	november	PROPN
faba-177	400	4	30	30	NUM
faba-177	400	5	,	,	PUNCT
faba-177	400	6	2014	2014	NUM
faba-177	400	7	.	.	PUNCT
faba-177	401	1	https://www.jbs.cam.ac.uk/faculty-research/centres/alternativefinance/publications/understanding-alternative-finance/#.xjdvowhkg2w	https://www.jbs.cam.ac.uk/faculty-research/centres/alternativefinance/publications/understanding-alternative-finance/#.xjdvowhkg2w	PROPN
faba-177	401	2	.	.	PUNCT
faba-177	402	1	baum	baum	PROPN
faba-177	402	2	,	,	PUNCT
faba-177	402	3	j.	j.	PROPN
faba-177	402	4	a.	a.	PROPN
faba-177	402	5	c.	c.	PROPN
faba-177	402	6	,	,	PUNCT
faba-177	402	7	and	and	CCONJ
faba-177	402	8	b.	b.	PROPN
faba-177	402	9	s.	s.	PROPN
faba-177	402	10	silverman	silverman	PROPN
faba-177	402	11	.	.	PUNCT
faba-177	403	1	2004	2004	NUM
faba-177	403	2	.	.	PUNCT
faba-177	404	1	picking	pick	VERB
faba-177	404	2	winners	winner	NOUN
faba-177	404	3	or	or	CCONJ
faba-177	404	4	building	build	VERB
faba-177	404	5	them	they	PRON
faba-177	404	6	?	?	PUNCT
faba-177	405	1	alliance	alliance	NOUN
faba-177	405	2	,	,	PUNCT
faba-177	405	3	intellectual	intellectual	NOUN
faba-177	405	4	,	,	PUNCT
faba-177	405	5	and	and	CCONJ
faba-177	405	6	human	human	ADJ
faba-177	405	7	capital	capital	NOUN
faba-177	405	8	as	as	ADP
faba-177	405	9	selection	selection	NOUN
faba-177	405	10	criteria	criterion	NOUN
faba-177	405	11	in	in	ADP
faba-177	405	12	venture	venture	NOUN
faba-177	405	13	financing	financing	NOUN
faba-177	405	14	and	and	CCONJ
faba-177	405	15	performance	performance	NOUN
faba-177	405	16	of	of	ADP
faba-177	405	17	biotechnology	biotechnology	NOUN
faba-177	405	18	startups	startup	NOUN
faba-177	405	19	.	.	PUNCT
faba-177	406	1	journal	journal	NOUN
faba-177	406	2	of	of	ADP
faba-177	406	3	business	business	NOUN
faba-177	406	4	venturing	venturing	NOUN
faba-177	406	5	,	,	PUNCT
faba-177	406	6	19(3	19(3	NUM
faba-177	406	7	):	):	PUNCT
faba-177	406	8	411–436	411–436	NUM
faba-177	406	9	.	.	PUNCT
faba-177	407	1	bradford	bradford	PROPN
faba-177	407	2	,	,	PUNCT
faba-177	407	3	c.	c.	PROPN
faba-177	407	4	s.	s.	PROPN
faba-177	407	5	2012	2012	NUM
faba-177	407	6	.	.	PUNCT
faba-177	408	1	crowdfunding	crowdfunding	NOUN
faba-177	408	2	and	and	CCONJ
faba-177	408	3	the	the	DET
faba-177	408	4	federal	federal	ADJ
faba-177	408	5	securities	security	NOUN
faba-177	408	6	laws	law	NOUN
faba-177	408	7	.	.	PUNCT
faba-177	409	1	columbia	columbia	PROPN
faba-177	409	2	business	business	PROPN
faba-177	409	3	law	law	PROPN
faba-177	409	4	review	review	VERB
faba-177	409	5	2012	2012	NUM
faba-177	409	6	(	(	PUNCT
faba-177	409	7	1	1	NUM
faba-177	409	8	):	):	PUNCT
faba-177	409	9	1–150	1–150	NUM
faba-177	409	10	.	.	PUNCT
faba-177	410	1	bretschneider	bretschneider	PROPN
faba-177	410	2	,	,	PUNCT
faba-177	410	3	u.	u.	PROPN
faba-177	410	4	,	,	PUNCT
faba-177	410	5	j.	j.	PROPN
faba-177	410	6	knaub	knaub	PROPN
faba-177	410	7	,	,	PUNCT
faba-177	410	8	and	and	CCONJ
faba-177	410	9	n.	n.	PROPN
faba-177	410	10	wittkowski	wittkowski	PROPN
faba-177	410	11	.	.	PUNCT
faba-177	411	1	2014	2014	NUM
faba-177	411	2	.	.	PUNCT
faba-177	412	1	does	do	AUX
faba-177	412	2	the	the	DET
faba-177	412	3	crowd	crowd	NOUN
faba-177	412	4	matter	matter	VERB
faba-177	412	5	?	?	PUNCT
faba-177	413	1	the	the	DET
faba-177	413	2	importance	importance	NOUN
faba-177	413	3	of	of	ADP
faba-177	413	4	crowdfunding	crowdfunde	VERB
faba-177	413	5	success	success	NOUN
faba-177	413	6	drivers	driver	NOUN
faba-177	413	7	.	.	PUNCT
faba-177	414	1	in	in	ADP
faba-177	414	2	proceedings	proceeding	NOUN
faba-177	414	3	of	of	ADP
faba-177	414	4	the	the	DET
faba-177	414	5	european	european	PROPN
faba-177	414	6	conference	conference	PROPN
faba-177	414	7	on	on	ADP
faba-177	414	8	information	information	NOUN
faba-177	414	9	systems	system	NOUN
faba-177	414	10	(	(	PUNCT
faba-177	414	11	ecis	ecis	ADJ
faba-177	414	12	)	)	PUNCT
faba-177	414	13	2014	2014	NUM
faba-177	414	14	,	,	PUNCT
faba-177	414	15	tel	tel	PROPN
faba-177	414	16	aviv	aviv	PROPN
faba-177	414	17	,	,	PUNCT
faba-177	414	18	israel	israel	PROPN
faba-177	414	19	,	,	PUNCT
faba-177	414	20	june	june	PROPN
faba-177	414	21	9	9	NUM
faba-177	414	22	-	-	SYM
faba-177	414	23	11	11	NUM
faba-177	414	24	.	.	PUNCT
faba-177	414	25	brown	brown	PROPN
faba-177	414	26	,	,	PUNCT
faba-177	414	27	r.	r.	PROPN
faba-177	414	28	2020	2020	NUM
faba-177	414	29	.	.	PUNCT
faba-177	415	1	equity	equity	NOUN
faba-177	415	2	crowdfunding	crowdfunding	NOUN
faba-177	415	3	platform	platform	NOUN
faba-177	415	4	due	due	ADJ
faba-177	415	5	diligence	diligence	NOUN
faba-177	415	6	:	:	PUNCT
faba-177	415	7	a	a	DET
faba-177	415	8	comparative	comparative	ADJ
faba-177	415	9	study	study	NOUN
faba-177	415	10	.	.	PUNCT
faba-177	416	1	phd	phd	PROPN
faba-177	416	2	diss	diss	PROPN
faba-177	416	3	.	.	PROPN
faba-177	416	4	,	,	PUNCT
faba-177	416	5	northcentral	northcentral	PROPN
faba-177	416	6	university	university	PROPN
faba-177	416	7	.	.	PUNCT
faba-177	417	1	burtch	burtch	PROPN
faba-177	417	2	,	,	PUNCT
faba-177	417	3	g.	g.	PROPN
faba-177	417	4	,	,	PUNCT
faba-177	417	5	a.	a.	PROPN
faba-177	417	6	ghose	ghose	PROPN
faba-177	417	7	,	,	PUNCT
faba-177	417	8	and	and	CCONJ
faba-177	417	9	s.	s.	PROPN
faba-177	417	10	wattal	wattal	PROPN
faba-177	417	11	.	.	PUNCT
faba-177	418	1	2018	2018	NUM
faba-177	418	2	.	.	PUNCT
faba-177	419	1	the	the	DET
faba-177	419	2	hidden	hide	VERB
faba-177	419	3	cost	cost	NOUN
faba-177	419	4	of	of	ADP
faba-177	419	5	accommodating	accommodate	VERB
faba-177	419	6	crowdfunder	crowdfunder	NOUN
faba-177	419	7	privacy	privacy	NOUN
faba-177	419	8	preferences	preference	NOUN
faba-177	419	9	:	:	PUNCT
faba-177	419	10	a	a	DET
faba-177	419	11	randomized	randomized	ADJ
faba-177	419	12	field	field	NOUN
faba-177	419	13	experiment	experiment	NOUN
faba-177	419	14	.	.	PUNCT
faba-177	420	1	management	management	NOUN
faba-177	420	2	science	science	PROPN
faba-177	420	3	,	,	PUNCT
faba-177	420	4	64(5	64(5	PROPN
faba-177	420	5	):	):	PUNCT
faba-177	420	6	2009–2030	2009–2030	NUM
faba-177	420	7	.	.	PUNCT
faba-177	421	1	cholakova	cholakova	NOUN
faba-177	421	2	,	,	PUNCT
faba-177	421	3	m.	m.	NOUN
faba-177	421	4	,	,	PUNCT
faba-177	421	5	and	and	CCONJ
faba-177	421	6	b.	b.	PROPN
faba-177	421	7	clarysse	clarysse	PROPN
faba-177	421	8	.	.	PUNCT
faba-177	422	1	2015	2015	NUM
faba-177	422	2	.	.	PUNCT
faba-177	423	1	does	do	VERB
faba-177	423	2	the	the	DET
faba-177	423	3	possibility	possibility	NOUN
faba-177	423	4	to	to	PART
faba-177	423	5	make	make	VERB
faba-177	423	6	equity	equity	NOUN
faba-177	423	7	investments	investment	NOUN
faba-177	423	8	in	in	ADP
faba-177	423	9	crowdfunding	crowdfunding	NOUN
faba-177	423	10	projects	project	NOUN
faba-177	423	11	crowd	crowd	VERB
faba-177	423	12	out	out	ADP
faba-177	423	13	reward‐based	reward‐based	ADJ
faba-177	423	14	investments	investment	NOUN
faba-177	423	15	?	?	PUNCT
faba-177	424	1	entrepreneurship	entrepreneurship	NOUN
faba-177	424	2	theory	theory	NOUN
faba-177	424	3	and	and	CCONJ
faba-177	424	4	practice	practice	NOUN
faba-177	424	5	,	,	PUNCT
faba-177	424	6	39	39	NUM
faba-177	424	7	(	(	PUNCT
faba-177	424	8	1	1	NUM
faba-177	424	9	):	):	PUNCT
faba-177	424	10	145	145	NUM
faba-177	424	11	-	-	SYM
faba-177	424	12	172	172	NUM
faba-177	424	13	.	.	PUNCT
faba-177	424	14	clark	clark	PROPN
faba-177	424	15	,	,	PUNCT
faba-177	424	16	b.	b.	PROPN
faba-177	424	17	2017	2017	NUM
faba-177	424	18	.	.	PUNCT
faba-177	424	19	staged	stage	VERB
faba-177	424	20	equity	equity	NOUN
faba-177	424	21	crowdfunding	crowdfunding	NOUN
faba-177	424	22	:	:	PUNCT
faba-177	424	23	a	a	DET
faba-177	424	24	proposed	propose	VERB
faba-177	424	25	best	good	ADJ
faba-177	424	26	practice	practice	NOUN
faba-177	424	27	.	.	PUNCT
faba-177	425	1	bachelor	bachelor	NOUN
faba-177	425	2	's	's	PART
faba-177	425	3	thesis	thesis	NOUN
faba-177	425	4	,	,	PUNCT
faba-177	425	5	swarthmore	swarthmore	PROPN
faba-177	425	6	college	college	PROPN
faba-177	425	7	.	.	PUNCT
faba-177	426	1	colombo	colombo	PROPN
faba-177	426	2	,	,	PUNCT
faba-177	426	3	m.	m.	NOUN
faba-177	426	4	g.	g.	PROPN
faba-177	426	5	,	,	PUNCT
faba-177	426	6	c.	c.	PROPN
faba-177	426	7	franzoni	franzoni	PROPN
faba-177	426	8	,	,	PUNCT
faba-177	426	9	and	and	CCONJ
faba-177	426	10	c.	c.	PROPN
faba-177	426	11	rossi‐lamastra	rossi‐lamastra	PROPN
faba-177	426	12	.	.	PROPN
faba-177	426	13	2015	2015	NUM
faba-177	426	14	.	.	PUNCT
faba-177	427	1	internal	internal	ADJ
faba-177	427	2	social	social	ADJ
faba-177	427	3	capital	capital	NOUN
faba-177	427	4	and	and	CCONJ
faba-177	427	5	the	the	DET
faba-177	427	6	attraction	attraction	NOUN
faba-177	427	7	of	of	ADP
faba-177	427	8	early	early	ADJ
faba-177	427	9	contributions	contribution	NOUN
faba-177	427	10	in	in	ADP
faba-177	427	11	crowdfunding	crowdfunding	NOUN
faba-177	427	12	.	.	PUNCT
faba-177	428	1	entrepreneurship	entrepreneurship	NOUN
faba-177	428	2	theory	theory	NOUN
faba-177	428	3	and	and	CCONJ
faba-177	428	4	practice	practice	NOUN
faba-177	428	5	,	,	PUNCT
faba-177	428	6	39(1	39(1	NUM
faba-177	428	7	):	):	PUNCT
faba-177	428	8	75	75	NUM
faba-177	428	9	-	-	SYM
faba-177	428	10	100	100	NUM
faba-177	428	11	.	.	PUNCT
faba-177	429	1	courtney	courtney	PROPN
faba-177	429	2	,	,	PUNCT
faba-177	429	3	c.	c.	PROPN
faba-177	429	4	,	,	PUNCT
faba-177	429	5	r.	r.	PROPN
faba-177	429	6	d.	d.	PROPN
faba-177	429	7	goktas	goktas	PROPN
faba-177	429	8	,	,	PUNCT
faba-177	429	9	k.	k.	PROPN
faba-177	429	10	o'brien	o'brien	PROPN
faba-177	429	11	,	,	PUNCT
faba-177	429	12	and	and	CCONJ
faba-177	429	13	w.	w.	PROPN
faba-177	429	14	boeker	boeker	NOUN
faba-177	429	15	.	.	PUNCT
faba-177	430	1	2017	2017	NUM
faba-177	430	2	.	.	PUNCT
faba-177	431	1	institutional	institutional	ADJ
faba-177	431	2	investor	investor	NOUN
faba-177	431	3	due	due	ADJ
faba-177	431	4	diligence	diligence	NOUN
faba-177	431	5	and	and	CCONJ
faba-177	431	6	investment	investment	NOUN
faba-177	431	7	decisions	decision	NOUN
faba-177	431	8	:	:	PUNCT
faba-177	431	9	a	a	DET
faba-177	431	10	study	study	NOUN
faba-177	431	11	of	of	ADP
faba-177	431	12	company	company	NOUN
faba-177	431	13	,	,	PUNCT
faba-177	431	14	crowdfunding	crowdfunding	NOUN
faba-177	431	15	,	,	PUNCT
faba-177	431	16	and	and	CCONJ
faba-177	431	17	security	security	NOUN
faba-177	431	18	sale	sale	NOUN
faba-177	431	19	factors	factor	NOUN
faba-177	431	20	.	.	PUNCT
faba-177	432	1	presented	present	VERB
faba-177	432	2	at	at	ADP
faba-177	432	3	decision	decision	NOUN
faba-177	432	4	sciences	sciences	PROPN
faba-177	432	5	institute	institute	VERB
faba-177	432	6	48th	48th	ADJ
faba-177	432	7	annual	annual	ADJ
faba-177	432	8	meeting	meeting	NOUN
faba-177	432	9	,	,	PUNCT
faba-177	432	10	pittsburgh	pittsburgh	PROPN
faba-177	432	11	,	,	PUNCT
faba-177	432	12	november	november	PROPN
faba-177	432	13	.	.	PUNCT
faba-177	433	1	cox	cox	PROPN
faba-177	433	2	,	,	PUNCT
faba-177	433	3	n.	n.	PROPN
faba-177	433	4	2016	2016	NUM
faba-177	433	5	.	.	PUNCT
faba-177	434	1	equity	equity	NOUN
faba-177	434	2	crowdfunding	crowdfunding	NOUN
faba-177	434	3	:	:	PUNCT
faba-177	434	4	more	more	ADJ
faba-177	434	5	than	than	ADP
faba-177	434	6	money	money	NOUN
faba-177	434	7	.	.	PUNCT
faba-177	435	1	doctoral	doctoral	ADJ
faba-177	435	2	dissertation	dissertation	NOUN
faba-177	435	3	,	,	PUNCT
faba-177	435	4	princeton	princeton	PROPN
faba-177	435	5	university	university	PROPN
faba-177	435	6	.	.	PUNCT
faba-177	436	1	cumming	cumming	PROPN
faba-177	436	2	,	,	PUNCT
faba-177	436	3	d.	d.	PROPN
faba-177	436	4	j.	j.	PROPN
faba-177	436	5	,	,	PUNCT
faba-177	436	6	and	and	CCONJ
faba-177	436	7	s.	s.	PROPN
faba-177	436	8	johan	johan	PROPN
faba-177	436	9	.	.	PUNCT
faba-177	437	1	2013	2013	NUM
faba-177	437	2	.	.	PUNCT
faba-177	438	1	demand	demand	NOUN
faba-177	438	2	-	-	PUNCT
faba-177	438	3	driven	drive	VERB
faba-177	438	4	securities	security	NOUN
faba-177	438	5	regulation	regulation	NOUN
faba-177	438	6	:	:	PUNCT
faba-177	438	7	evidence	evidence	NOUN
faba-177	438	8	from	from	ADP
faba-177	438	9	crowdfunding	crowdfunde	VERB
faba-177	438	10	.	.	PUNCT
faba-177	439	1	venture	venture	NOUN
faba-177	439	2	capital	capital	NOUN
faba-177	439	3	15	15	NUM
faba-177	439	4	(	(	PUNCT
faba-177	439	5	4	4	NUM
faba-177	439	6	):	):	PUNCT
faba-177	439	7	361–79	361–79	ADV
faba-177	439	8	.	.	PUNCT
faba-177	440	1	cumming	cumming	NOUN
faba-177	440	2	,	,	PUNCT
faba-177	440	3	d.	d.	PROPN
faba-177	440	4	j.	j.	PROPN
faba-177	440	5	,	,	PUNCT
faba-177	440	6	and	and	CCONJ
faba-177	440	7	l.	l.	PROPN
faba-177	440	8	jiang	jiang	PROPN
faba-177	440	9	.	.	PUNCT
faba-177	441	1	2019	2019	NUM
faba-177	441	2	.	.	PUNCT
faba-177	442	1	equity	equity	NOUN
faba-177	442	2	crowdfunding	crowdfunding	NOUN
faba-177	442	3	and	and	CCONJ
faba-177	442	4	price	price	NOUN
faba-177	442	5	discovery	discovery	NOUN
faba-177	442	6	:	:	PUNCT
faba-177	442	7	the	the	DET
faba-177	442	8	role	role	NOUN
faba-177	442	9	of	of	ADP
faba-177	442	10	sec	sec	PROPN
faba-177	442	11	regulation	regulation	NOUN
faba-177	442	12	.	.	PUNCT
faba-177	443	1	european	european	ADJ
faba-177	443	2	financial	financial	ADJ
faba-177	443	3	management	management	NOUN
faba-177	443	4	,	,	PUNCT
faba-177	443	5	26(2	26(2	NUM
faba-177	443	6	):	):	PUNCT
faba-177	443	7	217	217	NUM
faba-177	443	8	-	-	SYM
faba-177	443	9	243	243	NUM
faba-177	443	10	.	.	PUNCT
faba-177	444	1	cumming	cumming	PROPN
faba-177	444	2	,	,	PUNCT
faba-177	444	3	d.	d.	PROPN
faba-177	444	4	j.	j.	PROPN
faba-177	444	5	,	,	PUNCT
faba-177	444	6	and	and	CCONJ
faba-177	444	7	y.	y.	PROPN
faba-177	444	8	zhang	zhang	PROPN
faba-177	444	9	.	.	PROPN
faba-177	444	10	2019	2019	NUM
faba-177	444	11	.	.	PUNCT
faba-177	445	1	angel	angel	NOUN
faba-177	445	2	investors	investor	NOUN
faba-177	445	3	around	around	ADP
faba-177	445	4	the	the	DET
faba-177	445	5	world	world	NOUN
faba-177	445	6	.	.	PUNCT
faba-177	446	1	journal	journal	PROPN
faba-177	446	2	of	of	ADP
faba-177	446	3	international	international	ADJ
faba-177	446	4	business	business	NOUN
faba-177	446	5	studies	study	NOUN
faba-177	446	6	,	,	PUNCT
faba-177	446	7	50(5	50(5	NUM
faba-177	446	8	):	):	PUNCT
faba-177	446	9	692	692	NUM
faba-177	446	10	-	-	SYM
faba-177	446	11	714	714	NUM
faba-177	446	12	.	.	PUNCT
faba-177	447	1	davis	davis	PROPN
faba-177	447	2	,	,	PUNCT
faba-177	447	3	j.	j.	PROPN
faba-177	447	4	s.	s.	PROPN
faba-177	447	5	,	,	PUNCT
faba-177	447	6	h.	h.	PROPN
faba-177	447	7	t.t	t.t	PROPN
faba-177	447	8	.	.	PROPN
faba-177	447	9	nguyen	nguyen	PROPN
faba-177	447	10	,	,	PUNCT
faba-177	447	11	and	and	CCONJ
faba-177	447	12	a.	a.	NOUN
faba-177	447	13	n.m	n.m	PROPN
faba-177	447	14	.	.	PROPN
faba-177	447	15	wahid	wahid	PROPN
faba-177	447	16	.	.	PUNCT
faba-177	447	17	2017	2017	NUM
faba-177	447	18	.	.	PUNCT
faba-177	448	1	funding	fund	VERB
faba-177	448	2	for	for	ADP
faba-177	448	3	start	start	NOUN
faba-177	448	4	-	-	PUNCT
faba-177	448	5	ups	up	NOUN
faba-177	448	6	:	:	PUNCT
faba-177	448	7	an	an	DET
faba-177	448	8	examination	examination	NOUN
faba-177	448	9	of	of	ADP
faba-177	448	10	current	current	ADJ
faba-177	448	11	trends	trend	NOUN
faba-177	448	12	in	in	ADP
faba-177	448	13	crowdfunding	crowdfunding	NOUN
faba-177	448	14	.	.	PUNCT
faba-177	449	1	journal	journal	NOUN
faba-177	449	2	of	of	ADP
faba-177	449	3	the	the	DET
faba-177	449	4	midwest	midwest	PROPN
faba-177	449	5	business	business	PROPN
faba-177	449	6	economics	economic	NOUN
faba-177	449	7	association	association	PROPN
faba-177	449	8	,	,	PUNCT
faba-177	449	9	44(2	44(2	NUM
faba-177	449	10	):	):	PUNCT
faba-177	449	11	27	27	NUM
faba-177	449	12	-	-	SYM
faba-177	449	13	48	48	NUM
faba-177	449	14	.	.	PUNCT
faba-177	450	1	davis	davis	PROPN
faba-177	450	2	,	,	PUNCT
faba-177	450	3	l.	l.	PROPN
faba-177	450	4	2018	2018	NUM
faba-177	450	5	.	.	PUNCT
faba-177	451	1	evaluating	evaluate	VERB
faba-177	451	2	technology	technology	NOUN
faba-177	451	3	startup	startup	NOUN
faba-177	451	4	companies	company	NOUN
faba-177	451	5	:	:	PUNCT
faba-177	451	6	the	the	DET
faba-177	451	7	role	role	NOUN
faba-177	451	8	of	of	ADP
faba-177	451	9	a	a	DET
faba-177	451	10	due	due	ADJ
faba-177	451	11	diligence	diligence	NOUN
faba-177	451	12	audit	audit	NOUN
faba-177	451	13	.	.	PUNCT
faba-177	452	1	doctoral	doctoral	ADJ
faba-177	452	2	dissertation	dissertation	NOUN
faba-177	452	3	,	,	PUNCT
faba-177	452	4	northcentral	northcentral	ADJ
faba-177	452	5	university	university	NOUN
faba-177	452	6	.	.	PUNCT
faba-177	453	1	dorfleitner	dorfleitner	PROPN
faba-177	453	2	,	,	PUNCT
faba-177	453	3	g.	g.	PROPN
faba-177	453	4	,	,	PUNCT
faba-177	453	5	m.	m.	PROPN
faba-177	453	6	n.	n.	PROPN
faba-177	453	7	fink	fink	PROPN
faba-177	453	8	,	,	PUNCT
faba-177	453	9	m.	m.	NOUN
faba-177	453	10	u.	u.	PROPN
faba-177	453	11	gruber	gruber	PROPN
faba-177	453	12	,	,	PUNCT
faba-177	453	13	and	and	CCONJ
faba-177	453	14	c.	c.	PROPN
faba-177	453	15	weippl	weippl	PROPN
faba-177	453	16	.	.	PUNCT
faba-177	454	1	2021	2021	NUM
faba-177	454	2	.	.	PUNCT
faba-177	455	1	crowdfunding	crowdfunding	NOUN
faba-177	455	2	and	and	CCONJ
faba-177	455	3	fintech	fintech	NOUN
faba-177	455	4	.	.	PUNCT
faba-177	456	1	the	the	DET
faba-177	456	2	journal	journal	PROPN
faba-177	456	3	of	of	ADP
faba-177	456	4	portfolio	portfolio	NOUN
faba-177	456	5	management	management	NOUN
faba-177	456	6	,	,	PUNCT
faba-177	456	7	47(5	47(5	NOUN
faba-177	456	8	):	):	PUNCT
faba-177	456	9	75	75	NUM
faba-177	456	10	-	-	SYM
faba-177	456	11	92	92	NUM
faba-177	456	12	.	.	PUNCT
faba-177	457	1	dorfleitner	dorfleitner	NOUN
faba-177	457	2	,	,	PUNCT
faba-177	457	3	g.	g.	PROPN
faba-177	457	4	,	,	PUNCT
faba-177	457	5	m.	m.	PROPN
faba-177	457	6	n.	n.	PROPN
faba-177	457	7	fink	fink	PROPN
faba-177	457	8	,	,	PUNCT
faba-177	457	9	a.	a.	PROPN
faba-177	457	10	l.	l.	PROPN
faba-177	457	11	meier	meier	PROPN
faba-177	457	12	,	,	PUNCT
faba-177	457	13	m.	m.	NOUN
faba-177	457	14	u.	u.	PROPN
faba-177	457	15	gruber	gruber	PROPN
faba-177	457	16	,	,	PUNCT
faba-177	457	17	c.	c.	PROPN
faba-177	457	18	weippl	weippl	PROPN
faba-177	457	19	,	,	PUNCT
faba-177	457	20	s.	s.	PROPN
faba-177	457	21	müller	müller	PROPN
faba-177	457	22	,	,	PUNCT
faba-177	457	23	and	and	CCONJ
faba-177	457	24	e.	e.	PROPN
faba-177	457	25	griesbacher	griesbacher	PROPN
faba-177	457	26	.	.	PUNCT
faba-177	458	1	2022	2022	NUM
faba-177	458	2	.	.	PUNCT
faba-177	459	1	equity	equity	NOUN
faba-177	459	2	crowdfunding	crowdfunding	NOUN
faba-177	459	3	investor	investor	NOUN
faba-177	459	4	motivations	motivation	NOUN
faba-177	459	5	:	:	PUNCT
faba-177	459	6	a	a	DET
faba-177	459	7	qualitative	qualitative	ADJ
faba-177	459	8	analysis	analysis	NOUN
faba-177	459	9	.	.	PUNCT
faba-177	460	1	technological	technological	ADJ
faba-177	460	2	forecasting	forecasting	NOUN
faba-177	460	3	and	and	CCONJ
faba-177	460	4	social	social	ADJ
faba-177	460	5	change	change	NOUN
faba-177	460	6	174	174	NUM
faba-177	460	7	:	:	SYM
faba-177	460	8	121370	121370	NUM
faba-177	460	9	.	.	PUNCT
faba-177	461	1	sanjaya	sanjaya	PROPN
faba-177	461	2	and	and	CCONJ
faba-177	461	3	koesrindartoto	koesrindartoto	PROPN
faba-177	461	4	/	/	SYM
faba-177	461	5	finance	finance	NOUN
faba-177	461	6	,	,	PUNCT
faba-177	461	7	accounting	accounting	NOUN
faba-177	461	8	and	and	CCONJ
faba-177	461	9	business	business	NOUN
faba-177	461	10	analysis	analysis	NOUN
faba-177	461	11	,	,	PUNCT
faba-177	461	12	volume	volume	NOUN
faba-177	461	13	5	5	NUM
faba-177	461	14	,	,	PUNCT
faba-177	461	15	issue	issue	NOUN
faba-177	461	16	2	2	NUM
faba-177	461	17	,	,	PUNCT
faba-177	461	18	2023	2023	NUM
faba-177	461	19	186	186	NUM
faba-177	461	20	estrin	estrin	NOUN
faba-177	461	21	,	,	PUNCT
faba-177	461	22	s.	s.	PROPN
faba-177	461	23	,	,	PUNCT
faba-177	461	24	d.	d.	PROPN
faba-177	461	25	gozman	gozman	NOUN
faba-177	461	26	,	,	PUNCT
faba-177	461	27	and	and	CCONJ
faba-177	461	28	s.	s.	PROPN
faba-177	461	29	khavul	khavul	PROPN
faba-177	461	30	.	.	PUNCT
faba-177	461	31	2018	2018	NUM
faba-177	461	32	.	.	PUNCT
faba-177	462	1	the	the	DET
faba-177	462	2	evolution	evolution	NOUN
faba-177	462	3	and	and	CCONJ
faba-177	462	4	adoption	adoption	NOUN
faba-177	462	5	of	of	ADP
faba-177	462	6	equity	equity	NOUN
faba-177	462	7	crowdfunding	crowdfunding	NOUN
faba-177	462	8	:	:	PUNCT
faba-177	462	9	entrepreneur	entrepreneur	NOUN
faba-177	462	10	and	and	CCONJ
faba-177	462	11	investor	investor	NOUN
faba-177	462	12	entry	entry	NOUN
faba-177	462	13	into	into	ADP
faba-177	462	14	a	a	DET
faba-177	462	15	new	new	ADJ
faba-177	462	16	market	market	NOUN
faba-177	462	17	.	.	PUNCT
faba-177	463	1	small	small	ADJ
faba-177	463	2	business	business	NOUN
faba-177	463	3	economics	economic	NOUN
faba-177	463	4	,	,	PUNCT
faba-177	463	5	51(2	51(2	NUM
faba-177	463	6	):	):	PUNCT
faba-177	463	7	425–39	425–39	NUM
faba-177	463	8	.	.	PUNCT
faba-177	464	1	galaxy	galaxy	PROPN
faba-177	464	2	digital	digital	PROPN
faba-177	464	3	.	.	PUNCT
faba-177	464	4	2021	2021	NUM
faba-177	464	5	.	.	PUNCT
faba-177	465	1	southeast	southeast	PROPN
faba-177	465	2	asia	asia	PROPN
faba-177	465	3	:	:	PUNCT
faba-177	465	4	at	at	ADP
faba-177	465	5	the	the	DET
faba-177	465	6	tipping	tipping	NOUN
faba-177	465	7	point	point	NOUN
faba-177	465	8	of	of	ADP
faba-177	465	9	digitization	digitization	NOUN
faba-177	465	10	.	.	PUNCT
faba-177	466	1	galaxy	galaxy	VERB
faba-177	466	2	digital	digital	ADJ
faba-177	466	3	research	research	NOUN
faba-177	466	4	.	.	PUNCT
faba-177	467	1	jenik	jenik	PROPN
faba-177	467	2	,	,	PUNCT
faba-177	467	3	i.	i.	PROPN
faba-177	467	4	,	,	PUNCT
faba-177	467	5	k.	k.	PROPN
faba-177	467	6	lauer	lauer	PROPN
faba-177	467	7	,	,	PUNCT
faba-177	467	8	and	and	CCONJ
faba-177	467	9	t.	t.	PROPN
faba-177	467	10	lyman	lyman	PROPN
faba-177	467	11	.	.	PROPN
faba-177	468	1	2017	2017	NUM
faba-177	468	2	.	.	PUNCT
faba-177	469	1	regulating	regulate	VERB
faba-177	469	2	crowdfunding	crowdfunde	VERB
faba-177	469	3	:	:	PUNCT
faba-177	469	4	how	how	SCONJ
faba-177	469	5	to	to	PART
faba-177	469	6	protect	protect	VERB
faba-177	469	7	crowdinvestors	crowdinvestor	NOUN
faba-177	469	8	without	without	ADP
faba-177	469	9	stifling	stifle	VERB
faba-177	469	10	innovation	innovation	NOUN
faba-177	469	11	.	.	PUNCT
faba-177	470	1	world	world	PROPN
faba-177	470	2	bank	bank	PROPN
faba-177	470	3	blogs	blog	NOUN
faba-177	470	4	,	,	PUNCT
faba-177	470	5	august	august	PROPN
faba-177	470	6	10	10	NUM
faba-177	470	7	.	.	PUNCT
faba-177	471	1	jakarta	jakarta	PROPN
faba-177	471	2	post	post	PROPN
faba-177	471	3	,	,	PUNCT
faba-177	471	4	the	the	PRON
faba-177	471	5	.	.	NOUN
faba-177	471	6	2019	2019	NUM
faba-177	471	7	.	.	PUNCT
faba-177	472	1	indonesian	indonesian	ADJ
faba-177	472	2	snack	snack	NOUN
faba-177	472	3	startup	startup	NOUN
faba-177	472	4	under	under	ADP
faba-177	472	5	probe	probe	NOUN
faba-177	472	6	for	for	ADP
faba-177	472	7	allegedly	allegedly	ADV
faba-177	472	8	violating	violate	VERB
faba-177	472	9	reporting	reporting	NOUN
faba-177	472	10	rules	rule	NOUN
faba-177	472	11	.	.	PUNCT
faba-177	473	1	the	the	DET
faba-177	473	2	jakarta	jakarta	PROPN
faba-177	473	3	post	post	PROPN
faba-177	473	4	,	,	PUNCT
faba-177	473	5	october	october	PROPN
faba-177	473	6	7	7	NUM
faba-177	473	7	.	.	PUNCT
faba-177	473	8	kahneman	kahneman	PROPN
faba-177	473	9	,	,	PUNCT
faba-177	473	10	d.	d.	PROPN
faba-177	473	11	,	,	PUNCT
faba-177	473	12	and	and	CCONJ
faba-177	473	13	a.	a.	NOUN
faba-177	473	14	tversky	tversky	NOUN
faba-177	473	15	.	.	PUNCT
faba-177	474	1	1979	1979	NUM
faba-177	474	2	.	.	PUNCT
faba-177	475	1	prospect	prospect	PROPN
faba-177	475	2	theory	theory	NOUN
faba-177	475	3	:	:	PUNCT
faba-177	475	4	an	an	DET
faba-177	475	5	analysis	analysis	NOUN
faba-177	475	6	of	of	ADP
faba-177	475	7	decision	decision	NOUN
faba-177	475	8	under	under	ADP
faba-177	475	9	risk	risk	NOUN
faba-177	475	10	.	.	PUNCT
faba-177	476	1	econometrica	econometrica	PROPN
faba-177	476	2	,	,	PUNCT
faba-177	476	3	47(2	47(2	PROPN
faba-177	476	4	):	):	PUNCT
faba-177	476	5	263–91	263–91	NUM
faba-177	476	6	.	.	PUNCT
faba-177	477	1	kharnaetin	kharnaetin	PROPN
faba-177	477	2	,	,	PUNCT
faba-177	477	3	n.	n.	PROPN
faba-177	477	4	2019	2019	NUM
faba-177	477	5	.	.	PUNCT
faba-177	478	1	policy	policy	NOUN
faba-177	478	2	brief	brief	NOUN
faba-177	478	3	:	:	PUNCT
faba-177	478	4	startup	startup	PROPN
faba-177	478	5	ecosystem	ecosystem	NOUN
faba-177	478	6	in	in	ADP
faba-177	478	7	indonesia	indonesia	PROPN
faba-177	478	8	.	.	PUNCT
faba-177	479	1	economist	economist	NOUN
faba-177	479	2	intelligence	intelligence	NOUN
faba-177	479	3	unit	unit	NOUN
faba-177	479	4	.	.	PUNCT
faba-177	480	1	kirby	kirby	PROPN
faba-177	480	2	,	,	PUNCT
faba-177	480	3	e.	e.	PROPN
faba-177	480	4	,	,	PUNCT
faba-177	480	5	and	and	CCONJ
faba-177	480	6	s.	s.	PROPN
faba-177	480	7	worner	worner	PROPN
faba-177	480	8	.	.	PUNCT
faba-177	481	1	2014	2014	NUM
faba-177	481	2	.	.	PUNCT
faba-177	482	1	crowd	crowd	NOUN
faba-177	482	2	-	-	PUNCT
faba-177	482	3	funding	funding	NOUN
faba-177	482	4	:	:	PUNCT
faba-177	482	5	an	an	DET
faba-177	482	6	infant	infant	NOUN
faba-177	482	7	industry	industry	NOUN
faba-177	482	8	growing	grow	VERB
faba-177	482	9	fast	fast	ADV
faba-177	482	10	.	.	PUNCT
faba-177	483	1	iosco	iosco	PROPN
faba-177	483	2	research	research	PROPN
faba-177	483	3	department	department	PROPN
faba-177	483	4	staff	staff	NOUN
faba-177	483	5	working	work	VERB
faba-177	483	6	paper	paper	NOUN
faba-177	483	7	swp3/2014	swp3/2014	PROPN
faba-177	483	8	.	.	PUNCT
faba-177	484	1	kpmg	kpmg	PROPN
faba-177	484	2	indonesia	indonesia	PROPN
faba-177	484	3	.	.	PROPN
faba-177	485	1	2022	2022	NUM
faba-177	485	2	.	.	PUNCT
faba-177	486	1	equity	equity	NOUN
faba-177	486	2	crowdfunding	crowdfunding	NOUN
faba-177	486	3	in	in	ADP
faba-177	486	4	indonesia	indonesia	PROPN
faba-177	486	5	.	.	PUNCT
faba-177	487	1	kpmg	kpmg	PROPN
faba-177	487	2	indonesia	indonesia	PROPN
faba-177	487	3	spotlight	spotlight	PROPN
faba-177	487	4	report	report	NOUN
faba-177	487	5	.	.	PUNCT
faba-177	488	1	kuti	kuti	PROPN
faba-177	488	2	,	,	PUNCT
faba-177	488	3	m.	m.	NOUN
faba-177	488	4	,	,	PUNCT
faba-177	488	5	and	and	CCONJ
faba-177	488	6	g.	g.	PROPN
faba-177	488	7	madarász	madarász	NOUN
faba-177	488	8	.	.	PUNCT
faba-177	489	1	2014	2014	NUM
faba-177	489	2	.	.	PUNCT
faba-177	490	1	crowdfunding	crowdfunding	NOUN
faba-177	490	2	.	.	PUNCT
faba-177	491	1	public	public	ADJ
faba-177	491	2	finance	finance	NOUN
faba-177	491	3	quarterly	quarterly	ADV
faba-177	491	4	,	,	PUNCT
faba-177	491	5	59(3	59(3	NUM
faba-177	491	6	):	):	PUNCT
faba-177	491	7	355–66	355–66	NUM
faba-177	491	8	.	.	PUNCT
faba-177	491	9	landx	landx	PROPN
faba-177	491	10	.	.	PUNCT
faba-177	491	11	2022	2022	NUM
faba-177	491	12	.	.	PUNCT
faba-177	492	1	landx	landx	PROPN
faba-177	492	2	company	company	PROPN
faba-177	492	3	profile	profile	NOUN
faba-177	492	4	.	.	PUNCT
faba-177	493	1	lee	lee	PROPN
faba-177	493	2	,	,	PUNCT
faba-177	493	3	w.-c	w.-c	PROPN
faba-177	493	4	.	.	PUNCT
faba-177	493	5	,	,	PUNCT
faba-177	493	6	e.	e.	PROPN
faba-177	493	7	m.	m.	PROPN
faba-177	493	8	gompers	gompers	PROPN
faba-177	493	9	,	,	PUNCT
faba-177	493	10	m.	m.	PROPN
faba-177	493	11	s.	s.	PROPN
faba-177	493	12	wang	wang	PROPN
faba-177	493	13	,	,	PUNCT
faba-177	493	14	c.	c.	PROPN
faba-177	493	15	honohan	honohan	PROPN
faba-177	493	16	,	,	PUNCT
faba-177	493	17	and	and	CCONJ
faba-177	493	18	j.	j.	PROPN
faba-177	493	19	a.	a.	PROPN
faba-177	493	20	bloch	bloch	PROPN
faba-177	493	21	.	.	PUNCT
faba-177	494	1	2018	2018	NUM
faba-177	494	2	.	.	PUNCT
faba-177	495	1	modernizing	modernize	VERB
faba-177	495	2	us	we	PRON
faba-177	495	3	equity	equity	NOUN
faba-177	495	4	market	market	NOUN
faba-177	495	5	structure	structure	NOUN
faba-177	495	6	:	:	PUNCT
faba-177	495	7	making	make	VERB
faba-177	495	8	the	the	DET
faba-177	495	9	ipo	ipo	NOUN
faba-177	495	10	process	process	NOUN
faba-177	495	11	work	work	VERB
faba-177	495	12	for	for	ADP
faba-177	495	13	more	more	ADJ
faba-177	495	14	public	public	ADJ
faba-177	495	15	companies	company	NOUN
faba-177	495	16	.	.	PUNCT
faba-177	496	1	harvard	harvard	PROPN
faba-177	496	2	business	business	PROPN
faba-177	496	3	school	school	PROPN
faba-177	496	4	entrepreneurial	entrepreneurial	ADJ
faba-177	496	5	management	management	NOUN
faba-177	496	6	working	working	NOUN
faba-177	496	7	paper	paper	NOUN
faba-177	496	8	no	no	INTJ
faba-177	496	9	.	.	PROPN
faba-177	497	1	18	18	NUM
faba-177	497	2	-	-	SYM
faba-177	497	3	097	097	NUM
faba-177	497	4	.	.	PUNCT
faba-177	498	1	lewis	lewis	PROPN
faba-177	498	2	,	,	PUNCT
faba-177	498	3	m.	m.	NOUN
faba-177	498	4	2016	2016	NUM
faba-177	498	5	.	.	PUNCT
faba-177	499	1	due	due	ADJ
faba-177	499	2	diligence	diligence	NOUN
faba-177	499	3	practices	practice	NOUN
faba-177	499	4	in	in	ADP
faba-177	499	5	technology	technology	NOUN
faba-177	499	6	startup	startup	NOUN
faba-177	499	7	investment	investment	NOUN
faba-177	499	8	decisions	decision	NOUN
faba-177	499	9	.	.	PUNCT
faba-177	500	1	phd	phd	PROPN
faba-177	500	2	diss	diss	PROPN
faba-177	500	3	.	.	PROPN
faba-177	500	4	,	,	PUNCT
faba-177	500	5	northcentral	northcentral	PROPN
faba-177	500	6	university	university	NOUN
faba-177	500	7	.	.	PUNCT
faba-177	501	1	li	li	PROPN
faba-177	501	2	,	,	PUNCT
faba-177	501	3	z.	z.	PROPN
faba-177	501	4	,	,	PUNCT
faba-177	501	5	d.	d.	PROPN
faba-177	501	6	j.	j.	PROPN
faba-177	501	7	cumming	cumming	PROPN
faba-177	501	8	,	,	PUNCT
faba-177	501	9	l.	l.	PROPN
faba-177	501	10	su	su	PROPN
faba-177	501	11	,	,	PUNCT
faba-177	501	12	and	and	CCONJ
faba-177	501	13	m.	m.	PROPN
faba-177	501	14	wright	wright	PROPN
faba-177	501	15	.	.	PUNCT
faba-177	501	16	2021	2021	NUM
faba-177	501	17	.	.	PUNCT
faba-177	502	1	equity	equity	NOUN
faba-177	502	2	crowdfunding	crowdfunding	NOUN
faba-177	502	3	:	:	PUNCT
faba-177	502	4	ex	ex	X
faba-177	502	5	ante	ante	VERB
faba-177	502	6	due	due	ADJ
faba-177	502	7	diligence	diligence	NOUN
faba-177	502	8	and	and	CCONJ
faba-177	502	9	ex	ex	ADJ
faba-177	502	10	post	post	X
faba-177	502	11	entrepreneurial	entrepreneurial	ADJ
faba-177	502	12	success	success	NOUN
faba-177	502	13	.	.	PUNCT
faba-177	503	1	journal	journal	NOUN
faba-177	503	2	of	of	ADP
faba-177	503	3	business	business	NOUN
faba-177	503	4	venturing	venture	VERB
faba-177	503	5	insights	insight	NOUN
faba-177	503	6	,	,	PUNCT
faba-177	503	7	15	15	NUM
faba-177	503	8	:	:	PUNCT
faba-177	503	9	e00230	e00230	VERB
faba-177	503	10	.	.	PUNCT
faba-177	504	1	lukkarinen	lukkarinen	ADJ
faba-177	504	2	,	,	PUNCT
faba-177	504	3	a.	a.	PROPN
faba-177	504	4	,	,	PUNCT
faba-177	504	5	j.	j.	PROPN
faba-177	504	6	m.	m.	PROPN
faba-177	504	7	soriano	soriano	PROPN
faba-177	504	8	tejedo	tejedo	PROPN
faba-177	504	9	,	,	PUNCT
faba-177	504	10	and	and	CCONJ
faba-177	504	11	h.	h.	PROPN
faba-177	504	12	kärkkäinen	kärkkäinen	PROPN
faba-177	504	13	.	.	PUNCT
faba-177	505	1	2016	2016	NUM
faba-177	505	2	.	.	PUNCT
faba-177	506	1	success	success	NOUN
faba-177	506	2	factors	factor	NOUN
faba-177	506	3	in	in	ADP
faba-177	506	4	equity	equity	NOUN
faba-177	506	5	crowdfunding	crowdfunding	NOUN
faba-177	506	6	:	:	PUNCT
faba-177	506	7	a	a	DET
faba-177	506	8	literature	literature	NOUN
faba-177	506	9	review	review	NOUN
faba-177	506	10	.	.	PUNCT
faba-177	506	11	presented	present	VERB
faba-177	506	12	at	at	ADP
faba-177	506	13	ispim	ispim	PROPN
faba-177	506	14	innovation	innovation	PROPN
faba-177	506	15	forum	forum	PROPN
faba-177	506	16	,	,	PUNCT
faba-177	506	17	boston	boston	PROPN
faba-177	506	18	,	,	PUNCT
faba-177	506	19	april	april	PROPN
faba-177	506	20	2016	2016	NUM
faba-177	506	21	.	.	PUNCT
faba-177	507	1	mamonov	mamonov	PROPN
faba-177	507	2	,	,	PUNCT
faba-177	507	3	s.	s.	PROPN
faba-177	507	4	and	and	CCONJ
faba-177	507	5	r.	r.	PROPN
faba-177	507	6	malaga	malaga	PROPN
faba-177	507	7	.	.	PUNCT
faba-177	508	1	2020	2020	NUM
faba-177	508	2	.	.	PUNCT
faba-177	509	1	success	success	NOUN
faba-177	509	2	factors	factor	NOUN
faba-177	509	3	in	in	ADP
faba-177	509	4	title	title	NOUN
faba-177	509	5	iii	iii	PROPN
faba-177	509	6	equity	equity	NOUN
faba-177	509	7	crowdfunding	crowdfunding	NOUN
faba-177	509	8	in	in	ADP
faba-177	509	9	the	the	DET
faba-177	509	10	united	united	PROPN
faba-177	509	11	states	states	PROPN
faba-177	509	12	.	.	PUNCT
faba-177	510	1	venture	venture	NOUN
faba-177	510	2	capital	capital	NOUN
faba-177	510	3	,	,	PUNCT
faba-177	510	4	22(1	22(1	NUM
faba-177	510	5	):	):	PUNCT
faba-177	510	6	73	73	NUM
faba-177	510	7	-	-	SYM
faba-177	510	8	96	96	NUM
faba-177	510	9	.	.	PUNCT
faba-177	511	1	mamonov	mamonov	PROPN
faba-177	511	2	,	,	PUNCT
faba-177	511	3	s.	s.	PROPN
faba-177	511	4	,	,	PUNCT
faba-177	511	5	r.	r.	PROPN
faba-177	511	6	malaga	malaga	PROPN
faba-177	511	7	,	,	PUNCT
faba-177	511	8	and	and	CCONJ
faba-177	512	1	p.	p.	NOUN
faba-177	512	2	k.	k.	PROPN
faba-177	513	1	chari	chari	PROPN
faba-177	513	2	.	.	PUNCT
faba-177	514	1	2020	2020	NUM
faba-177	514	2	.	.	PUNCT
faba-177	515	1	success	success	NOUN
faba-177	515	2	factors	factor	NOUN
faba-177	515	3	for	for	ADP
faba-177	515	4	title	title	NOUN
faba-177	515	5	iii	iii	PROPN
faba-177	515	6	equity	equity	NOUN
faba-177	515	7	crowdfunding	crowdfunding	NOUN
faba-177	515	8	offerings	offering	NOUN
faba-177	515	9	.	.	PUNCT
faba-177	516	1	international	international	ADJ
faba-177	516	2	journal	journal	PROPN
faba-177	516	3	of	of	ADP
faba-177	516	4	entrepreneurial	entrepreneurial	ADJ
faba-177	516	5	behavior	behavior	NOUN
faba-177	516	6	&	&	CCONJ
faba-177	516	7	research	research	PROPN
faba-177	516	8	,	,	PUNCT
faba-177	516	9	27(2	27(2	NUM
faba-177	516	10	):	):	PUNCT
faba-177	516	11	290	290	NUM
faba-177	516	12	-	-	SYM
faba-177	516	13	310	310	NUM
faba-177	516	14	.	.	PUNCT
faba-177	516	15	micheler	micheler	NOUN
faba-177	516	16	,	,	PUNCT
faba-177	516	17	e.	e.	PROPN
faba-177	516	18	,	,	PUNCT
faba-177	516	19	and	and	CCONJ
faba-177	516	20	l.	l.	PROPN
faba-177	516	21	von	von	PROPN
faba-177	516	22	der	der	PROPN
faba-177	516	23	heyde	heyde	PROPN
faba-177	516	24	.	.	PUNCT
faba-177	517	1	2016	2016	NUM
faba-177	517	2	.	.	PUNCT
faba-177	518	1	holding	hold	VERB
faba-177	518	2	a	a	DET
faba-177	518	3	candle	candle	NOUN
faba-177	518	4	to	to	ADP
faba-177	518	5	innovation	innovation	NOUN
faba-177	518	6	in	in	ADP
faba-177	518	7	emerging	emerge	VERB
faba-177	518	8	markets	market	NOUN
faba-177	518	9	:	:	PUNCT
faba-177	518	10	an	an	DET
faba-177	518	11	actorcentric	actorcentric	ADJ
faba-177	518	12	perspective	perspective	NOUN
faba-177	518	13	on	on	ADP
faba-177	518	14	market	market	NOUN
faba-177	518	15	entry	entry	NOUN
faba-177	518	16	.	.	PUNCT
faba-177	519	1	journal	journal	NOUN
faba-177	519	2	of	of	ADP
faba-177	519	3	international	international	ADJ
faba-177	519	4	business	business	NOUN
faba-177	519	5	studies	study	NOUN
faba-177	519	6	,	,	PUNCT
faba-177	519	7	47(5	47(5	NOUN
faba-177	519	8	):	):	PUNCT
faba-177	519	9	580–99	580–99	NUM
faba-177	519	10	.	.	PUNCT
faba-177	520	1	mochkabadi	mochkabadi	PROPN
faba-177	520	2	,	,	PUNCT
faba-177	520	3	k.	k.	PROPN
faba-177	520	4	,	,	PUNCT
faba-177	520	5	and	and	CCONJ
faba-177	520	6	c.	c.	PROPN
faba-177	520	7	k.	k.	PROPN
faba-177	520	8	volkmann	volkmann	PROPN
faba-177	520	9	.	.	PUNCT
faba-177	521	1	2020	2020	NUM
faba-177	521	2	.	.	PUNCT
faba-177	522	1	equity	equity	NOUN
faba-177	522	2	crowdfunding	crowdfunding	NOUN
faba-177	522	3	:	:	PUNCT
faba-177	522	4	a	a	DET
faba-177	522	5	systematic	systematic	ADJ
faba-177	522	6	review	review	NOUN
faba-177	522	7	of	of	ADP
faba-177	522	8	the	the	DET
faba-177	522	9	literature	literature	NOUN
faba-177	522	10	.	.	PUNCT
faba-177	523	1	small	small	ADJ
faba-177	523	2	business	business	NOUN
faba-177	523	3	economics	economic	NOUN
faba-177	523	4	,	,	PUNCT
faba-177	523	5	54(1	54(1	NUM
faba-177	523	6	):	):	PUNCT
faba-177	523	7	75	75	NUM
faba-177	523	8	-	-	SYM
faba-177	523	9	118	118	NUM
faba-177	523	10	.	.	PUNCT
faba-177	523	11	mollick	mollick	PROPN
faba-177	523	12	,	,	PUNCT
faba-177	523	13	e.	e.	PROPN
faba-177	523	14	,	,	PUNCT
faba-177	523	15	and	and	CCONJ
faba-177	523	16	r.	r.	PROPN
faba-177	523	17	nanda	nanda	PROPN
faba-177	523	18	.	.	PUNCT
faba-177	524	1	2015	2015	NUM
faba-177	524	2	.	.	PUNCT
faba-177	525	1	wisdom	wisdom	NOUN
faba-177	525	2	or	or	CCONJ
faba-177	525	3	madness	madness	NOUN
faba-177	525	4	?	?	PUNCT
faba-177	526	1	comparing	compare	VERB
faba-177	526	2	crowds	crowd	NOUN
faba-177	526	3	with	with	ADP
faba-177	526	4	expert	expert	NOUN
faba-177	526	5	evaluation	evaluation	NOUN
faba-177	526	6	in	in	ADP
faba-177	526	7	funding	fund	VERB
faba-177	526	8	the	the	DET
faba-177	526	9	arts	art	NOUN
faba-177	526	10	.	.	PUNCT
faba-177	527	1	management	management	NOUN
faba-177	527	2	science	science	NOUN
faba-177	527	3	,	,	PUNCT
faba-177	527	4	62(6	62(6	NOUN
faba-177	527	5	):	):	PUNCT
faba-177	527	6	1533–53	1533–53	NOUN
faba-177	527	7	.	.	PUNCT
faba-177	528	1	nasution	nasution	NOUN
faba-177	528	2	,	,	PUNCT
faba-177	528	3	f.	f.	PROPN
faba-177	528	4	a.	a.	PROPN
faba-177	528	5	2020	2020	NUM
faba-177	528	6	.	.	PUNCT
faba-177	529	1	financial	financial	ADJ
faba-177	529	2	inclusion	inclusion	NOUN
faba-177	529	3	through	through	ADP
faba-177	529	4	fintech	fintech	NOUN
faba-177	529	5	lending	lending	NOUN
faba-177	529	6	startups	startup	NOUN
faba-177	529	7	:	:	PUNCT
faba-177	529	8	case	case	NOUN
faba-177	529	9	of	of	ADP
faba-177	529	10	indonesia	indonesia	PROPN
faba-177	529	11	.	.	PUNCT
faba-177	530	1	buletin	buletin	PROPN
faba-177	530	2	ekonomi	ekonomi	PROPN
faba-177	530	3	moneter	moneter	PROPN
faba-177	530	4	dan	dan	PROPN
faba-177	530	5	perbankan	perbankan	PROPN
faba-177	530	6	(	(	PUNCT
faba-177	530	7	bulletin	bulletin	NOUN
faba-177	530	8	of	of	ADP
faba-177	530	9	monetary	monetary	ADJ
faba-177	530	10	economics	economic	NOUN
faba-177	530	11	and	and	CCONJ
faba-177	530	12	banking	banking	NOUN
faba-177	530	13	)	)	PUNCT
faba-177	530	14	,	,	PUNCT
faba-177	530	15	23(1	23(1	NUM
faba-177	530	16	):	):	PUNCT
faba-177	530	17	13	13	NUM
faba-177	530	18	-	-	SYM
faba-177	530	19	30	30	NUM
faba-177	530	20	.	.	PUNCT
faba-177	531	1	novitasari	novitasari	PROPN
faba-177	531	2	,	,	PUNCT
faba-177	531	3	d.	d.	PROPN
faba-177	531	4	a.	a.	PROPN
faba-177	531	5	2018	2018	NUM
faba-177	531	6	.	.	PUNCT
faba-177	532	1	equity	equity	NOUN
faba-177	532	2	crowdfunding	crowdfunding	NOUN
faba-177	532	3	in	in	ADP
faba-177	532	4	indonesia	indonesia	PROPN
faba-177	532	5	:	:	PUNCT
faba-177	532	6	will	will	AUX
faba-177	532	7	it	it	PRON
faba-177	532	8	disrupt	disrupt	VERB
faba-177	532	9	the	the	DET
faba-177	532	10	financial	financial	ADJ
faba-177	532	11	services	service	NOUN
faba-177	532	12	industry	industry	NOUN
faba-177	532	13	?	?	PUNCT
faba-177	533	1	journal	journal	NOUN
faba-177	533	2	of	of	ADP
faba-177	533	3	indonesian	indonesian	ADJ
faba-177	533	4	economy	economy	NOUN
faba-177	533	5	and	and	CCONJ
faba-177	533	6	business	business	NOUN
faba-177	533	7	,	,	PUNCT
faba-177	533	8	33(1	33(1	NUM
faba-177	533	9	):	):	PUNCT
faba-177	533	10	23–43	23–43	NUM
faba-177	533	11	.	.	PUNCT
faba-177	534	1	oecd	oecd	PROPN
faba-177	534	2	.	.	PROPN
faba-177	534	3	2019	2019	NUM
faba-177	534	4	.	.	PUNCT
faba-177	535	1	southeast	southeast	PROPN
faba-177	535	2	asia	asia	PROPN
faba-177	535	3	going	go	VERB
faba-177	535	4	digital	digital	ADJ
faba-177	535	5	:	:	PUNCT
faba-177	535	6	connecting	connect	VERB
faba-177	535	7	smes	sme	NOUN
faba-177	535	8	.	.	PUNCT
faba-177	536	1	oecd	oecd	PROPN
faba-177	536	2	development	development	NOUN
faba-177	536	3	policy	policy	NOUN
faba-177	536	4	papers	paper	NOUN
faba-177	536	5	,	,	PUNCT
faba-177	536	6	no	no	INTJ
faba-177	536	7	.	.	NOUN
faba-177	536	8	19	19	NUM
faba-177	536	9	.	.	PUNCT
faba-177	537	1	oecd	oecd	PROPN
faba-177	537	2	publishing	publishing	PROPN
faba-177	537	3	,	,	PUNCT
faba-177	537	4	paris	paris	PROPN
faba-177	537	5	.	.	PUNCT
faba-177	538	1	oecd	oecd	PROPN
faba-177	538	2	.	.	PUNCT
faba-177	538	3	2020	2020	NUM
faba-177	538	4	.	.	PUNCT
faba-177	539	1	oecd	oecd	PROPN
faba-177	539	2	/	/	SYM
faba-177	539	3	infe	infe	NOUN
faba-177	539	4	2020	2020	NUM
faba-177	539	5	international	international	ADJ
faba-177	539	6	survey	survey	NOUN
faba-177	539	7	of	of	ADP
faba-177	539	8	adult	adult	NOUN
faba-177	539	9	financial	financial	ADJ
faba-177	539	10	literacy	literacy	NOUN
faba-177	539	11	.	.	PUNCT
faba-177	540	1	oecd	oecd	PROPN
faba-177	540	2	.	.	PUNCT
faba-177	540	3	https://www.oecd.org/financial/education/oecd-infe-2020-international-survey-of-adult-financialliteracy.pdf	https://www.oecd.org/financial/education/oecd-infe-2020-international-survey-of-adult-financialliteracy.pdf	PROPN
faba-177	540	4	.	.	PROPN
faba-177	541	1	ojk	ojk	NOUN
faba-177	541	2	(	(	PUNCT
faba-177	541	3	otoritas	otorita	NOUN
faba-177	541	4	jasa	jasa	PROPN
faba-177	541	5	keuangan	keuangan	PROPN
faba-177	541	6	)	)	PUNCT
faba-177	541	7	.	.	PUNCT
faba-177	542	1	2021	2021	NUM
faba-177	542	2	.	.	PUNCT
faba-177	543	1	equity	equity	NOUN
faba-177	543	2	crowdfunding	crowdfunding	NOUN
faba-177	543	3	statistics	statistic	NOUN
faba-177	543	4	in	in	ADP
faba-177	543	5	indonesia	indonesia	PROPN
faba-177	543	6	2019	2019	NUM
faba-177	543	7	-	-	SYM
faba-177	543	8	2020	2020	NUM
faba-177	543	9	.	.	PUNCT
faba-177	544	1	ojk	ojk	ADP
faba-177	544	2	research	research	NOUN
faba-177	544	3	data	datum	NOUN
faba-177	544	4	.	.	PUNCT
faba-177	545	1	parhankangas	parhankangas	NOUN
faba-177	545	2	,	,	PUNCT
faba-177	545	3	a.	a.	NOUN
faba-177	545	4	,	,	PUNCT
faba-177	545	5	and	and	CCONJ
faba-177	545	6	m.	m.	NOUN
faba-177	545	7	renko	renko	PROPN
faba-177	545	8	.	.	PUNCT
faba-177	546	1	2017	2017	NUM
faba-177	546	2	.	.	PUNCT
faba-177	547	1	linguistic	linguistic	ADJ
faba-177	547	2	style	style	NOUN
faba-177	547	3	and	and	CCONJ
faba-177	547	4	crowdfunding	crowdfunde	VERB
faba-177	547	5	success	success	NOUN
faba-177	547	6	among	among	ADP
faba-177	547	7	social	social	ADJ
faba-177	547	8	and	and	CCONJ
faba-177	547	9	commercial	commercial	ADJ
faba-177	547	10	entrepreneurs	entrepreneur	NOUN
faba-177	547	11	.	.	PUNCT
faba-177	548	1	journal	journal	PROPN
faba-177	548	2	of	of	ADP
faba-177	548	3	business	business	NOUN
faba-177	548	4	venturing	venturing	NOUN
faba-177	548	5	,	,	PUNCT
faba-177	548	6	32(2	32(2	NUM
faba-177	548	7	):	):	PUNCT
faba-177	548	8	215–36	215–36	NUM
faba-177	548	9	.	.	PUNCT
faba-177	549	1	ralcheva	ralcheva	PROPN
faba-177	549	2	,	,	PUNCT
faba-177	549	3	a.	a.	NOUN
faba-177	549	4	,	,	PUNCT
faba-177	549	5	and	and	CCONJ
faba-177	549	6	p.	p.	PROPN
faba-177	549	7	roosenboom	roosenboom	NOUN
faba-177	549	8	.	.	PUNCT
faba-177	550	1	2021	2021	NUM
faba-177	550	2	.	.	PUNCT
faba-177	551	1	forecasting	forecast	VERB
faba-177	551	2	success	success	NOUN
faba-177	551	3	in	in	ADP
faba-177	551	4	equity	equity	NOUN
faba-177	551	5	crowdfunding	crowdfunding	NOUN
faba-177	551	6	.	.	PUNCT
faba-177	552	1	small	small	ADJ
faba-177	552	2	business	business	NOUN
faba-177	552	3	economics	economic	NOUN
faba-177	552	4	,	,	PUNCT
faba-177	552	5	57	57	NUM
faba-177	552	6	:	:	PUNCT
faba-177	552	7	61–90	61–90	NUM
faba-177	552	8	.	.	PUNCT
faba-177	553	1	saldaña	saldaña	PROPN
faba-177	553	2	,	,	PUNCT
faba-177	553	3	j.	j.	PROPN
faba-177	553	4	2015	2015	NUM
faba-177	553	5	.	.	PUNCT
faba-177	554	1	the	the	DET
faba-177	554	2	coding	code	VERB
faba-177	554	3	manual	manual	NOUN
faba-177	554	4	for	for	ADP
faba-177	554	5	qualitative	qualitative	ADJ
faba-177	554	6	researchers	researcher	NOUN
faba-177	554	7	.	.	PUNCT
faba-177	555	1	los	los	PROPN
faba-177	555	2	angeles	angeles	PROPN
faba-177	555	3	:	:	PUNCT
faba-177	555	4	sage	sage	NOUN
faba-177	555	5	publications	publication	NOUN
faba-177	555	6	.	.	PUNCT
faba-177	555	7	santoso	santoso	PROPN
faba-177	555	8	,	,	PUNCT
faba-177	555	9	l.	l.	PROPN
faba-177	555	10	w.	w.	PROPN
faba-177	555	11	,	,	PUNCT
faba-177	555	12	a.	a.	NOUN
faba-177	555	13	a.	a.	NOUN
faba-177	555	14	hermawan	hermawan	NOUN
faba-177	555	15	,	,	PUNCT
faba-177	555	16	and	and	CCONJ
faba-177	555	17	m.	m.	NOUN
faba-177	555	18	reza	reza	PROPN
faba-177	555	19	.	.	PUNCT
faba-177	556	1	2022	2022	NUM
faba-177	556	2	.	.	PUNCT
faba-177	557	1	regulation	regulation	NOUN
faba-177	557	2	and	and	CCONJ
faba-177	557	3	crowd	crowd	NOUN
faba-177	557	4	-	-	PUNCT
faba-177	557	5	funding	funding	NOUN
faba-177	557	6	ecosystem	ecosystem	NOUN
faba-177	557	7	development	development	NOUN
faba-177	557	8	in	in	ADP
faba-177	557	9	indonesia	indonesia	PROPN
faba-177	557	10	.	.	PUNCT
faba-177	558	1	buletin	buletin	PROPN
faba-177	558	2	ekonomi	ekonomi	PROPN
faba-177	558	3	moneter	moneter	PROPN
faba-177	558	4	dan	dan	PROPN
faba-177	558	5	perbankan	perbankan	PROPN
faba-177	558	6	(	(	PUNCT
faba-177	558	7	bulletin	bulletin	NOUN
faba-177	558	8	of	of	ADP
faba-177	558	9	monetary	monetary	ADJ
faba-177	558	10	economics	economic	NOUN
faba-177	558	11	and	and	CCONJ
faba-177	558	12	banking	banking	NOUN
faba-177	558	13	)	)	PUNCT
faba-177	558	14	,	,	PUNCT
faba-177	558	15	25(2	25(2	NUM
faba-177	558	16	):	):	PUNCT
faba-177	558	17	183	183	NUM
faba-177	558	18	-	-	SYM
faba-177	558	19	214	214	NUM
faba-177	558	20	.	.	PUNCT
faba-177	559	1	satriyo	satriyo	PROPN
faba-177	559	2	,	,	PUNCT
faba-177	559	3	b.	b.	PROPN
faba-177	559	4	,	,	PUNCT
faba-177	559	5	and	and	CCONJ
faba-177	559	6	b.	b.	PROPN
faba-177	559	7	w.	w.	PROPN
faba-177	559	8	sutrisno	sutrisno	PROPN
faba-177	559	9	.	.	PROPN
faba-177	560	1	2021	2021	NUM
faba-177	560	2	.	.	PUNCT
faba-177	561	1	financial	financial	ADJ
faba-177	561	2	literacy	literacy	NOUN
faba-177	561	3	in	in	ADP
faba-177	561	4	indonesia	indonesia	PROPN
faba-177	561	5	.	.	PUNCT
faba-177	562	1	ojk	ojk	NOUN
faba-177	562	2	bulletin	bulletin	NOUN
faba-177	562	3	of	of	ADP
faba-177	562	4	financial	financial	ADJ
faba-177	562	5	services	service	NOUN
faba-177	562	6	authority	authority	PROPN
faba-177	562	7	research	research	NOUN
faba-177	562	8	,	,	PUNCT
faba-177	562	9	43(3	43(3	NUM
faba-177	562	10	):	):	PUNCT
faba-177	562	11	383	383	NUM
faba-177	562	12	-	-	SYM
faba-177	562	13	412	412	NUM
faba-177	562	14	.	.	PUNCT
faba-177	563	1	schwienbacher	schwienbacher	PROPN
faba-177	563	2	,	,	PUNCT
faba-177	563	3	a.	a.	PROPN
faba-177	563	4	,	,	PUNCT
faba-177	563	5	and	and	CCONJ
faba-177	563	6	b.	b.	PROPN
faba-177	563	7	larralde	larralde	PROPN
faba-177	563	8	.	.	PUNCT
faba-177	564	1	2012	2012	NUM
faba-177	564	2	.	.	PUNCT
faba-177	565	1	crowdfunding	crowdfunding	NOUN
faba-177	565	2	of	of	ADP
faba-177	565	3	entrepreneurial	entrepreneurial	ADJ
faba-177	565	4	ventures	venture	NOUN
faba-177	565	5	.	.	PUNCT
faba-177	566	1	in	in	ADP
faba-177	566	2	the	the	DET
faba-177	566	3	oxford	oxford	PROPN
faba-177	566	4	handbook	handbook	NOUN
faba-177	566	5	of	of	ADP
faba-177	566	6	entrepreneurial	entrepreneurial	ADJ
faba-177	566	7	finance	finance	NOUN
faba-177	566	8	,	,	PUNCT
faba-177	566	9	edited	edit	VERB
faba-177	566	10	by	by	ADP
faba-177	566	11	d.	d.	PROPN
faba-177	566	12	cumming	cumming	PROPN
faba-177	566	13	,	,	PUNCT
faba-177	566	14	369	369	NUM
faba-177	566	15	-	-	SYM
faba-177	566	16	91	91	NUM
faba-177	566	17	.	.	PUNCT
faba-177	567	1	oxford	oxford	NOUN
faba-177	567	2	:	:	PUNCT
faba-177	567	3	oxford	oxford	PROPN
faba-177	567	4	university	university	PROPN
faba-177	567	5	press	press	NOUN
faba-177	567	6	.	.	PUNCT
faba-177	568	1	setiawan	setiawan	PROPN
faba-177	568	2	,	,	PUNCT
faba-177	568	3	a.	a.	NOUN
faba-177	568	4	p.	p.	NOUN
faba-177	568	5	2018	2018	NUM
faba-177	568	6	.	.	PUNCT
faba-177	569	1	equity	equity	NOUN
faba-177	569	2	crowdfunding	crowdfunding	NOUN
faba-177	569	3	regulation	regulation	NOUN
faba-177	569	4	in	in	ADP
faba-177	569	5	indonesia	indonesia	PROPN
faba-177	569	6	:	:	PUNCT
faba-177	569	7	between	between	ADP
faba-177	569	8	flexibility	flexibility	NOUN
faba-177	569	9	and	and	CCONJ
faba-177	569	10	investor	investor	NOUN
faba-177	569	11	protection	protection	NOUN
faba-177	569	12	.	.	PUNCT
faba-177	570	1	indonesian	indonesian	ADJ
faba-177	570	2	law	law	PROPN
faba-177	570	3	review	review	PROPN
faba-177	570	4	,	,	PUNCT
faba-177	570	5	8(1	8(1	NOUN
faba-177	570	6	):	):	PUNCT
faba-177	570	7	15	15	NUM
faba-177	570	8	-	-	SYM
faba-177	570	9	36	36	NUM
faba-177	570	10	.	.	PUNCT
faba-177	571	1	short	short	ADJ
faba-177	571	2	,	,	PUNCT
faba-177	571	3	j.	j.	PROPN
faba-177	571	4	c.	c.	PROPN
faba-177	571	5	,	,	PUNCT
faba-177	571	6	d.	d.	PROPN
faba-177	571	7	j.	j.	PROPN
faba-177	571	8	ketchen	ketchen	PROPN
faba-177	571	9	,	,	PUNCT
faba-177	571	10	c.	c.	PROPN
faba-177	571	11	l.	l.	PROPN
faba-177	571	12	shook	shake	VERB
faba-177	571	13	,	,	PUNCT
faba-177	571	14	and	and	CCONJ
faba-177	571	15	r.	r.	PROPN
faba-177	571	16	d.	d.	PROPN
faba-177	571	17	ireland	ireland	PROPN
faba-177	571	18	.	.	PUNCT
faba-177	572	1	2010	2010	NUM
faba-177	572	2	.	.	PUNCT
faba-177	573	1	the	the	DET
faba-177	573	2	concept	concept	NOUN
faba-177	573	3	of	of	ADP
faba-177	573	4	‘	'	PUNCT
faba-177	573	5	opportunity	opportunity	NOUN
faba-177	573	6	’	'	PUNCT
faba-177	573	7	in	in	ADP
faba-177	573	8	sanjaya	sanjaya	PROPN
faba-177	573	9	and	and	CCONJ
faba-177	573	10	koesrindartoto	koesrindartoto	PROPN
faba-177	573	11	/	/	SYM
faba-177	573	12	finance	finance	NOUN
faba-177	573	13	,	,	PUNCT
faba-177	573	14	accounting	accounting	NOUN
faba-177	573	15	and	and	CCONJ
faba-177	573	16	business	business	NOUN
faba-177	573	17	analysis	analysis	NOUN
faba-177	573	18	,	,	PUNCT
faba-177	573	19	volume	volume	NOUN
faba-177	573	20	5	5	NUM
faba-177	573	21	,	,	PUNCT
faba-177	573	22	issue	issue	NOUN
faba-177	573	23	2	2	NUM
faba-177	573	24	,	,	PUNCT
faba-177	573	25	2023	2023	NUM
faba-177	573	26	187	187	NUM
faba-177	573	27	entrepreneurship	entrepreneurship	NOUN
faba-177	573	28	research	research	NOUN
faba-177	573	29	:	:	PUNCT
faba-177	573	30	past	past	ADJ
faba-177	573	31	accomplishments	accomplishment	NOUN
faba-177	573	32	and	and	CCONJ
faba-177	573	33	future	future	ADJ
faba-177	573	34	challenges	challenge	NOUN
faba-177	573	35	.	.	PUNCT
faba-177	574	1	journal	journal	NOUN
faba-177	574	2	of	of	ADP
faba-177	574	3	management	management	NOUN
faba-177	574	4	,	,	PUNCT
faba-177	574	5	36(1	36(1	NUM
faba-177	574	6	):	):	PUNCT
faba-177	574	7	40–65	40–65	NUM
faba-177	574	8	.	.	PUNCT
faba-177	575	1	siering	siere	VERB
faba-177	575	2	,	,	PUNCT
faba-177	575	3	m.	m.	NOUN
faba-177	575	4	,	,	PUNCT
faba-177	575	5	j.	j.	PROPN
faba-177	575	6	h.	h.	PROPN
faba-177	575	7	block	block	PROPN
faba-177	575	8	,	,	PUNCT
faba-177	575	9	and	and	CCONJ
faba-177	575	10	p.	p.	PROPN
faba-177	575	11	sandner	sandner	NOUN
faba-177	575	12	.	.	PUNCT
faba-177	576	1	2022	2022	NUM
faba-177	576	2	.	.	PUNCT
faba-177	577	1	what	what	PRON
faba-177	577	2	drives	drive	VERB
faba-177	577	3	the	the	DET
faba-177	577	4	crowd	crowd	NOUN
faba-177	577	5	?	?	PUNCT
faba-177	578	1	a	a	DET
faba-177	578	2	meta	meta	ADJ
faba-177	578	3	-	-	PUNCT
faba-177	578	4	review	review	NOUN
faba-177	578	5	of	of	ADP
faba-177	578	6	motivations	motivation	NOUN
faba-177	578	7	to	to	PART
faba-177	578	8	participate	participate	VERB
faba-177	578	9	in	in	ADP
faba-177	578	10	crowdfunding	crowdfunde	VERB
faba-177	578	11	.	.	PUNCT
faba-177	579	1	international	international	ADJ
faba-177	579	2	review	review	NOUN
faba-177	579	3	of	of	ADP
faba-177	579	4	financial	financial	ADJ
faba-177	579	5	analysis	analysis	NOUN
faba-177	579	6	80	80	NUM
faba-177	579	7	(	(	PUNCT
faba-177	579	8	c	c	NOUN
faba-177	579	9	)	)	PUNCT
faba-177	579	10	.	.	PUNCT
faba-177	580	1	signori	signori	PROPN
faba-177	580	2	,	,	PUNCT
faba-177	580	3	a.	a.	NOUN
faba-177	580	4	,	,	PUNCT
faba-177	580	5	and	and	CCONJ
faba-177	580	6	s.	s.	PROPN
faba-177	580	7	vismara	vismara	PROPN
faba-177	580	8	.	.	PUNCT
faba-177	581	1	2018	2018	NUM
faba-177	581	2	.	.	PUNCT
faba-177	582	1	does	do	AUX
faba-177	582	2	success	success	NOUN
faba-177	582	3	bring	bring	VERB
faba-177	582	4	success	success	NOUN
faba-177	582	5	?	?	PUNCT
faba-177	583	1	the	the	DET
faba-177	583	2	post	post	ADJ
faba-177	583	3	-	-	ADJ
faba-177	583	4	offering	offering	ADJ
faba-177	583	5	lives	life	NOUN
faba-177	583	6	of	of	ADP
faba-177	583	7	equity	equity	NOUN
faba-177	583	8	crowdfunded	crowdfunde	VERB
faba-177	583	9	firms	firm	NOUN
faba-177	583	10	.	.	PUNCT
faba-177	584	1	journal	journal	NOUN
faba-177	584	2	of	of	ADP
faba-177	584	3	corporate	corporate	ADJ
faba-177	584	4	finance	finance	NOUN
faba-177	584	5	50	50	NUM
faba-177	584	6	(	(	PUNCT
faba-177	584	7	june	june	PROPN
faba-177	584	8	):	):	PUNCT
faba-177	584	9	575–91	575–91	NUM
faba-177	584	10	.	.	PUNCT
faba-177	585	1	smith	smith	PROPN
faba-177	585	2	,	,	PUNCT
faba-177	585	3	c.	c.	PROPN
faba-177	585	4	2021	2021	NUM
faba-177	585	5	.	.	PUNCT
faba-177	586	1	optimizing	optimize	VERB
faba-177	586	2	equity	equity	NOUN
faba-177	586	3	crowdfunding	crowdfunding	NOUN
faba-177	586	4	platform	platform	NOUN
faba-177	586	5	due	due	ADJ
faba-177	586	6	diligence	diligence	NOUN
faba-177	586	7	criteria	criterion	NOUN
faba-177	586	8	through	through	ADP
faba-177	586	9	delphi	delphi	NOUN
faba-177	586	10	method	method	NOUN
faba-177	586	11	expert	expert	NOUN
faba-177	586	12	elicitation	elicitation	NOUN
faba-177	586	13	.	.	PUNCT
faba-177	587	1	master	master	NOUN
faba-177	587	2	's	's	PART
faba-177	587	3	thesis	thesis	NOUN
faba-177	587	4	,	,	PUNCT
faba-177	587	5	the	the	DET
faba-177	587	6	university	university	NOUN
faba-177	587	7	of	of	ADP
faba-177	587	8	vermont	vermont	PROPN
faba-177	587	9	.	.	PUNCT
faba-177	588	1	song	song	PROPN
faba-177	588	2	,	,	PUNCT
faba-177	588	3	m.	m.	NOUN
faba-177	588	4	,	,	PUNCT
faba-177	588	5	k.	k.	PROPN
faba-177	588	6	f.	f.	PROPN
faba-177	588	7	m.	m.	PROPN
faba-177	588	8	au	au	PROPN
faba-177	588	9	,	,	PUNCT
faba-177	588	10	c.-m	c.-m	PROPN
faba-177	588	11	.	.	PUNCT
faba-177	589	1	lau	lau	PROPN
faba-177	589	2	,	,	PUNCT
faba-177	589	3	and	and	CCONJ
faba-177	589	4	y.-d	y.-d	NOUN
faba-177	589	5	.	.	PUNCT
faba-177	590	1	ding	ding	NOUN
faba-177	590	2	.	.	PUNCT
faba-177	591	1	2008	2008	NUM
faba-177	591	2	.	.	PUNCT
faba-177	592	1	consideration	consideration	NOUN
faba-177	592	2	of	of	ADP
faba-177	592	3	venture	venture	NOUN
faba-177	592	4	capitalists	capitalist	NOUN
faba-177	592	5	’	'	PUNCT
faba-177	592	6	exit	exit	NOUN
faba-177	592	7	strategies	strategy	NOUN
faba-177	592	8	from	from	ADP
faba-177	592	9	start	start	NOUN
faba-177	592	10	-	-	PUNCT
faba-177	592	11	up	up	ADP
faba-177	592	12	companies	company	NOUN
faba-177	592	13	.	.	PUNCT
faba-177	593	1	the	the	DET
faba-177	593	2	journal	journal	NOUN
faba-177	593	3	of	of	ADP
faba-177	593	4	entrepreneurial	entrepreneurial	ADJ
faba-177	593	5	finance	finance	NOUN
faba-177	593	6	,	,	PUNCT
faba-177	593	7	12(3	12(3	NUM
faba-177	593	8	):	):	PUNCT
faba-177	593	9	51–68	51–68	NUM
faba-177	593	10	.	.	PUNCT
faba-177	593	11	strangler	strangler	NOUN
faba-177	593	12	,	,	PUNCT
faba-177	593	13	d.	d.	PROPN
faba-177	593	14	,	,	PUNCT
faba-177	593	15	and	and	CCONJ
faba-177	593	16	e.	e.	PROPN
faba-177	593	17	jackson	jackson	PROPN
faba-177	593	18	.	.	PROPN
faba-177	593	19	2012	2012	NUM
faba-177	593	20	.	.	PUNCT
faba-177	594	1	accelerating	accelerate	VERB
faba-177	594	2	growth	growth	NOUN
faba-177	594	3	:	:	PUNCT
faba-177	594	4	startup	startup	NOUN
faba-177	594	5	accelerator	accelerator	NOUN
faba-177	594	6	programs	program	NOUN
faba-177	594	7	in	in	ADP
faba-177	594	8	the	the	DET
faba-177	594	9	united	united	PROPN
faba-177	594	10	states	states	PROPN
faba-177	594	11	.	.	PUNCT
faba-177	595	1	ewing	ewing	PROPN
faba-177	595	2	marion	marion	PROPN
faba-177	595	3	kauffman	kauffman	PROPN
faba-177	595	4	foundation	foundation	PROPN
faba-177	595	5	.	.	PUNCT
faba-177	596	1	sudek	sudek	NOUN
faba-177	596	2	,	,	PUNCT
faba-177	596	3	r.	r.	PROPN
faba-177	596	4	2006	2006	NUM
faba-177	596	5	.	.	PUNCT
faba-177	597	1	angel	angel	NOUN
faba-177	597	2	investment	investment	NOUN
faba-177	597	3	criteria	criterion	NOUN
faba-177	597	4	.	.	PUNCT
faba-177	598	1	journal	journal	NOUN
faba-177	598	2	of	of	ADP
faba-177	598	3	small	small	ADJ
faba-177	598	4	business	business	NOUN
faba-177	598	5	strategy	strategy	NOUN
faba-177	598	6	,	,	PUNCT
faba-177	598	7	17(2	17(2	NUM
faba-177	598	8	):	):	PUNCT
faba-177	598	9	89	89	NUM
faba-177	598	10	-	-	SYM
faba-177	598	11	103	103	NUM
faba-177	598	12	.	.	PUNCT
faba-177	599	1	taylor	taylor	PROPN
faba-177	599	2	,	,	PUNCT
faba-177	599	3	n.	n.	PROPN
faba-177	599	4	s.	s.	PROPN
faba-177	599	5	2021	2021	NUM
faba-177	599	6	.	.	PUNCT
faba-177	600	1	designing	design	VERB
faba-177	600	2	the	the	DET
faba-177	600	3	equity	equity	NOUN
faba-177	600	4	crowdfunding	crowdfunding	NOUN
faba-177	600	5	data	datum	NOUN
faba-177	600	6	engine	engine	NOUN
faba-177	600	7	:	:	PUNCT
faba-177	600	8	improving	improve	VERB
faba-177	600	9	platform	platform	NOUN
faba-177	600	10	due	due	ADJ
faba-177	600	11	diligence	diligence	NOUN
faba-177	600	12	,	,	PUNCT
faba-177	600	13	investment	investment	NOUN
faba-177	600	14	decisions	decision	NOUN
faba-177	600	15	and	and	CCONJ
faba-177	600	16	post	post	ADJ
faba-177	600	17	-	-	ADJ
faba-177	600	18	raise	raise	ADJ
faba-177	600	19	engagement	engagement	NOUN
faba-177	600	20	.	.	PUNCT
faba-177	601	1	bachelor	bachelor	NOUN
faba-177	601	2	's	's	PART
faba-177	601	3	thesis	thesis	NOUN
faba-177	601	4	,	,	PUNCT
faba-177	601	5	the	the	DET
faba-177	601	6	university	university	NOUN
faba-177	601	7	of	of	ADP
faba-177	601	8	pennsylvania	pennsylvania	PROPN
faba-177	601	9	.	.	PUNCT
faba-177	602	1	vismara	vismara	PROPN
faba-177	602	2	,	,	PUNCT
faba-177	602	3	s.	s.	PROPN
faba-177	602	4	2018	2018	NUM
faba-177	602	5	.	.	PUNCT
faba-177	603	1	information	information	NOUN
faba-177	603	2	cascades	cascade	VERB
faba-177	603	3	among	among	ADP
faba-177	603	4	investors	investor	NOUN
faba-177	603	5	in	in	ADP
faba-177	603	6	equity	equity	NOUN
faba-177	603	7	crowdfunding	crowdfunding	NOUN
faba-177	603	8	.	.	PUNCT
faba-177	604	1	entrepreneurship	entrepreneurship	NOUN
faba-177	604	2	theory	theory	NOUN
faba-177	604	3	and	and	CCONJ
faba-177	604	4	practice	practice	NOUN
faba-177	604	5	,	,	PUNCT
faba-177	604	6	42(3	42(3	NUM
faba-177	604	7	):	):	PUNCT
faba-177	604	8	467	467	NUM
faba-177	604	9	-	-	SYM
faba-177	604	10	497	497	NUM
faba-177	604	11	.	.	PUNCT
faba-177	605	1	vismara	vismara	NOUN
faba-177	605	2	,	,	PUNCT
faba-177	605	3	s.	s.	PROPN
faba-177	605	4	2021	2021	NUM
faba-177	605	5	.	.	PUNCT
faba-177	606	1	equity	equity	NOUN
faba-177	606	2	crowdfunding	crowdfunding	NOUN
faba-177	606	3	and	and	CCONJ
faba-177	606	4	early	early	ADJ
faba-177	606	5	stage	stage	NOUN
faba-177	606	6	venture	venture	NOUN
faba-177	606	7	performance	performance	NOUN
faba-177	606	8	.	.	PUNCT
faba-177	607	1	the	the	DET
faba-177	607	2	review	review	NOUN
faba-177	607	3	of	of	ADP
faba-177	607	4	financial	financial	ADJ
faba-177	607	5	studies	study	NOUN
faba-177	607	6	,	,	PUNCT
faba-177	607	7	34(4	34(4	NUM
faba-177	607	8	):	):	PUNCT
faba-177	607	9	1608–46	1608–46	PROPN
faba-177	607	10	.	.	PUNCT
faba-177	608	1	vulkan	vulkan	PROPN
faba-177	608	2	,	,	PUNCT
faba-177	608	3	n.	n.	NOUN
faba-177	608	4	,	,	PUNCT
faba-177	608	5	t.	t.	NOUN
faba-177	608	6	åstebro	åstebro	NOUN
faba-177	608	7	,	,	PUNCT
faba-177	608	8	and	and	CCONJ
faba-177	608	9	m.	m.	PROPN
faba-177	608	10	fernandez	fernandez	PROPN
faba-177	608	11	sierra	sierra	PROPN
faba-177	608	12	.	.	PUNCT
faba-177	609	1	2016	2016	NUM
faba-177	609	2	.	.	PUNCT
faba-177	610	1	equity	equity	NOUN
faba-177	610	2	crowdfunding	crowdfunding	PROPN
faba-177	610	3	:	:	PUNCT
faba-177	610	4	a	a	DET
faba-177	610	5	new	new	ADJ
faba-177	610	6	phenomena	phenomenon	NOUN
faba-177	610	7	.	.	PUNCT
faba-177	611	1	journal	journal	PROPN
faba-177	611	2	of	of	ADP
faba-177	611	3	business	business	NOUN
faba-177	611	4	venturing	venture	VERB
faba-177	611	5	insights	insight	NOUN
faba-177	611	6	,	,	PUNCT
faba-177	611	7	5	5	NUM
faba-177	611	8	:	:	SYM
faba-177	611	9	37	37	NUM
faba-177	611	10	-	-	SYM
faba-177	611	11	49	49	NUM
faba-177	611	12	.	.	PUNCT
faba-177	612	1	wilson	wilson	PROPN
faba-177	612	2	,	,	PUNCT
faba-177	612	3	c.	c.	PROPN
faba-177	612	4	2022	2022	NUM
faba-177	612	5	.	.	PUNCT
faba-177	613	1	a	a	DET
faba-177	613	2	comparative	comparative	ADJ
faba-177	613	3	analysis	analysis	NOUN
faba-177	613	4	of	of	ADP
faba-177	613	5	equity	equity	NOUN
faba-177	613	6	crowdfunding	crowdfunding	NOUN
faba-177	613	7	platform	platform	NOUN
faba-177	613	8	due	due	ADJ
faba-177	613	9	diligence	diligence	NOUN
faba-177	613	10	processes	process	NOUN
faba-177	613	11	.	.	PUNCT
faba-177	614	1	doctoral	doctoral	ADJ
faba-177	614	2	dissertation	dissertation	NOUN
faba-177	614	3	,	,	PUNCT
faba-177	614	4	northcentral	northcentral	ADJ
faba-177	614	5	university	university	NOUN
faba-177	614	6	.	.	PUNCT
faba-177	615	1	wilson	wilson	PROPN
faba-177	615	2	,	,	PUNCT
faba-177	615	3	k.	k.	PROPN
faba-177	615	4	e.	e.	PROPN
faba-177	615	5	,	,	PUNCT
faba-177	615	6	and	and	CCONJ
faba-177	615	7	m.	m.	NOUN
faba-177	615	8	testoni	testoni	NOUN
faba-177	615	9	.	.	PUNCT
faba-177	616	1	2014	2014	NUM
faba-177	616	2	.	.	PUNCT
faba-177	617	1	improving	improve	VERB
faba-177	617	2	the	the	DET
faba-177	617	3	role	role	NOUN
faba-177	617	4	of	of	ADP
faba-177	617	5	equity	equity	NOUN
faba-177	617	6	crowdfunding	crowdfunding	NOUN
faba-177	617	7	in	in	ADP
faba-177	617	8	europe	europe	PROPN
faba-177	617	9	's	's	PART
faba-177	617	10	capital	capital	NOUN
faba-177	617	11	markets	market	NOUN
faba-177	617	12	.	.	PUNCT
faba-177	618	1	bruegel	bruegel	NOUN
faba-177	618	2	policy	policy	NOUN
faba-177	618	3	contribution	contribution	NOUN
faba-177	618	4	,	,	PUNCT
faba-177	618	5	issue	issue	NOUN
faba-177	618	6	2014/09	2014/09	NUM
faba-177	618	7	.	.	PUNCT
faba-177	618	8	yin	yin	PROPN
faba-177	618	9	,	,	PUNCT
faba-177	618	10	r.	r.	PROPN
faba-177	618	11	2018	2018	NUM
faba-177	618	12	.	.	PUNCT
faba-177	619	1	case	case	NOUN
faba-177	619	2	study	study	NOUN
faba-177	619	3	research	research	NOUN
faba-177	619	4	and	and	CCONJ
faba-177	619	5	applications	application	NOUN
faba-177	619	6	:	:	PUNCT
faba-177	619	7	design	design	NOUN
faba-177	619	8	and	and	CCONJ
faba-177	619	9	methods	method	NOUN
faba-177	619	10	.	.	PUNCT
faba-177	620	1	6th	6th	ADJ
faba-177	620	2	ed	ed	NOUN
faba-177	620	3	.	.	PROPN
faba-177	621	1	thousand	thousand	NUM
faba-177	621	2	oaks	oak	NOUN
faba-177	621	3	,	,	PUNCT
faba-177	621	4	ca	can	AUX
faba-177	621	5	:	:	PUNCT
faba-177	621	6	sage	sage	NOUN
faba-177	621	7	publications	publication	NOUN
faba-177	621	8	.	.	PUNCT
faba-177	622	1	yong	yong	PROPN
faba-177	622	2	,	,	PUNCT
faba-177	622	3	h.	h.	PROPN
faba-177	622	4	b.	b.	PROPN
faba-177	622	5	d.	d.	PROPN
faba-177	622	6	s.	s.	PROPN
faba-177	622	7	u.	u.	PROPN
faba-177	622	8	arshad	arshad	PROPN
faba-177	622	9	.	.	PROPN
faba-177	623	1	2020	2020	NUM
faba-177	623	2	.	.	PUNCT
faba-177	624	1	investor	investor	NOUN
faba-177	624	2	protection	protection	NOUN
faba-177	624	3	mechanisms	mechanism	NOUN
faba-177	624	4	for	for	ADP
faba-177	624	5	the	the	DET
faba-177	624	6	malaysian	malaysian	ADJ
faba-177	624	7	equity	equity	NOUN
faba-177	624	8	crowdfunding	crowdfunding	NOUN
faba-177	624	9	framework	framework	NOUN
faba-177	624	10	.	.	PUNCT
faba-177	625	1	malaysian	malaysian	PROPN
faba-177	625	2	reserve	reserve	PROPN
faba-177	625	3	,	,	PUNCT
faba-177	625	4	february	february	PROPN
faba-177	625	5	12	12	NUM
faba-177	625	6	.	.	PUNCT
faba-177	626	1	ziegler	ziegler	NOUN
faba-177	626	2	,	,	PUNCT
faba-177	626	3	t.	t.	PROPN
faba-177	626	4	,	,	PUNCT
faba-177	626	5	b.	b.	PROPN
faba-177	626	6	zhang	zhang	PROPN
faba-177	626	7	,	,	PUNCT
faba-177	626	8	k.	k.	PROPN
faba-177	626	9	wenzlaff	wenzlaff	PROPN
faba-177	626	10	,	,	PUNCT
faba-177	626	11	r.	r.	PROPN
faba-177	626	12	hao	hao	PROPN
faba-177	626	13	,	,	PUNCT
faba-177	626	14	and	and	CCONJ
faba-177	626	15	r.	r.	PROPN
faba-177	626	16	shneor	shneor	PROPN
faba-177	626	17	.	.	PUNCT
faba-177	627	1	2022	2022	NUM
faba-177	627	2	.	.	PUNCT
faba-177	628	1	shifting	shift	VERB
faba-177	628	2	paradigms	paradigm	VERB
faba-177	628	3	the	the	DET
faba-177	628	4	5th	5th	ADJ
faba-177	628	5	global	global	ADJ
faba-177	628	6	alternative	alternative	ADJ
faba-177	628	7	finance	finance	NOUN
faba-177	628	8	market	market	NOUN
faba-177	628	9	benchmarking	benchmarke	VERB
faba-177	628	10	report	report	NOUN
faba-177	628	11	.	.	PUNCT
faba-177	629	1	cambridge	cambridge	PROPN
faba-177	629	2	centre	centre	PROPN
faba-177	629	3	for	for	ADP
faba-177	629	4	alternative	alternative	ADJ
faba-177	629	5	finance	finance	NOUN
faba-177	629	6	.	.	PUNCT
faba-177	630	1	https://www.jbs.cam.ac.uk/faculty-research/centres/alternative-finance/publications/shiftingparadigms/.	https://www.jbs.cam.ac.uk/faculty-research/centres/alternative-finance/publications/shiftingparadigms/.	PROPN
faba-177	630	2	zvilichovsky	zvilichovsky	PROPN
faba-177	630	3	,	,	PUNCT
faba-177	630	4	d.	d.	PROPN
faba-177	630	5	,	,	PUNCT
faba-177	630	6	y.	y.	NOUN
faba-177	630	7	inbar	inbar	NOUN
faba-177	630	8	,	,	PUNCT
faba-177	630	9	and	and	CCONJ
faba-177	630	10	o.	o.	PROPN
faba-177	630	11	barzilay	barzilay	NOUN
faba-177	630	12	.	.	PUNCT
faba-177	631	1	2018	2018	NUM
faba-177	631	2	.	.	PUNCT
faba-177	632	1	motivations	motivation	NOUN
faba-177	632	2	and	and	CCONJ
faba-177	632	3	barriers	barrier	NOUN
faba-177	632	4	to	to	ADP
faba-177	632	5	crowdfunding	crowdfunde	VERB
faba-177	632	6	:	:	PUNCT
faba-177	632	7	the	the	DET
faba-177	632	8	backer	backer	NOUN
faba-177	632	9	's	's	PART
faba-177	632	10	perspective	perspective	NOUN
faba-177	632	11	.	.	PUNCT
faba-177	633	1	in	in	ADP
faba-177	633	2	crowdfunding	crowdfunde	VERB
faba-177	633	3	for	for	ADP
faba-177	633	4	sustainability	sustainability	NOUN
faba-177	633	5	,	,	PUNCT
faba-177	633	6	edited	edit	VERB
faba-177	633	7	by	by	ADP
faba-177	633	8	r.	r.	PROPN
faba-177	633	9	wicks	wick	NOUN
faba-177	633	10	and	and	CCONJ
faba-177	633	11	z.	z.	PROPN
faba-177	633	12	bar	bar	PROPN
faba-177	633	13	-	-	PUNCT
faba-177	633	14	el	el	PROPN
faba-177	633	15	,	,	PUNCT
faba-177	633	16	107	107	NUM
faba-177	633	17	-	-	SYM
faba-177	633	18	123	123	NUM
faba-177	633	19	.	.	PUNCT
faba-177	634	1	cham	cham	PROPN
faba-177	634	2	,	,	PUNCT
faba-177	634	3	switzerland	switzerland	PROPN
faba-177	634	4	:	:	PUNCT
faba-177	634	5	palgrave	palgrave	PROPN
faba-177	634	6	macmillan	macmillan	PROPN
faba-177	634	7	.	.	PUNCT