How alternative finance informs central themes in corporate finance

Hisham Farag, Sofia Johan*

*Corresponding author for this work

Research output: Contribution to journalEditorialpeer-review


This paper investigates three areas of corporate finance, and the role of alternative finance in contributing to our understanding of these areas. First, we look at disclosure, information asymmetry, and adverse selection, and how different alternative finance solutions are used to mitigate these issues. Second, we examine moral hazard and risk taking and how these behaviours are shaped by new types of alternative finance. Third, we consider the role of control rights, and show how their importance varies by context including types of alternative finance and the country-level institutional setting.

Original languageEnglish
Article number102318
Number of pages8
JournalJournal of Corporate Finance
Early online date20 Nov 2022
Publication statusPublished - 1 Dec 2022

Bibliographical note

Funding Information:
We are grateful to the Editors of the Journal of Corporate Finance, Raghavendra Rau and the participants of the Birmingham Business School and the Journal of Corporate Finance Co-sponsored Conference Developments in Alternative Finance hosted by Birmingham Business School for helpful comments and suggestions.


  • Alternative finance
  • Cryptocurrencies
  • Digital finance
  • Fintech
  • ICOs
  • Peer-to-peer lending


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