“…It is a well-established topic of interest in several fields, particularly management, but there is still a paucity of studies on entrepreneurial decision-making (EDM) (Shepherd et al , 2015), although EDM is deeply influenced by the evolution and turbulence of the modern global landscape (e.g. new ideas coming out of Fintech, digital platforms, iot or AI) (Cohen et al , 2017; Li et al , 2018; Agostini and Nosella, 2019; Balodi, 2019; Bullini Orlandi and Pierce, 2020). Given the emphasis on making decisions in uncertain contexts (Pellegrini and Ciappei, 2015), such as crowdfunding (Xu et al , 2015), equity crowdfunding (ECF) is emerging as an intriguing research area within the sphere of entrepreneurship (Cholakova and Clarysse, 2015; McKenny et al , 2017) and in particular EDM (Bruton et al , 2015; Shepherd and Patzelt, 2017).…”