Talk:Douglas Cumming

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* Specific text to be added or removed: After this sentence “His most recent work in this area shows how rumors surrounding M&As cause harm to deals and their values, which he published in 2021 in the Journal of Financial Economics.[33]”

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- “Law and entrepreneurship scholarship: Cumming has published a number of papers on how law affects entrepreneurs, including but not limited to incentives to become an entrepreneur and access to capital. He published the first paper on international differences in bankruptcy laws around the world and rates of entrepreneurial activity ; this work was featured in The New Yorker. Cumming published the first paper on how international differences in law and culture affect angel investment, which appeared in the Journal of International Business Studies, and showed that angel investment is more sensitive to stock market conditions, legal environments, and Hofstede’s cultural conditions than venture capital and private equity investment. Cumming’s most recent work on topic compares the impact of corporate and personal bankruptcy laws on angel investors around the world, which is forthcoming in the  Journal of International Business Studies.

* Reason for the change: New information found.

* References supporting change:

(a) https://papers.ssrn.com/sol3/papers.cfm?abstract_id=762144

(b) https://www.newyorker.com/magazine/2008/04/07/going-for-broke-2

(c) https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3226373

(d) https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4288104 Bmjc98 (talk) 22:55, 14 January 2023 (UTC)


 * Red information icon with gradient background.svg Not done: please provide reliable sources that support the change you want to be made.  The sources you have provided do not sufficiently establish the notability of these details. Additionally, the extensive use of primary sources is not appropriate for biographies of living persons, see WP:BLP. Be aware that Wikipedia is not built on original research (WP:OR). The article in the New Yorker only mentions the paper is passing; this does not sufficiently establish notability, nor is it adequate sourcing for the claims you want to add. Actualcpscm (talk) 20:20, 19 March 2023 (UTC)

Request to add a Category: Writers from Winnipeg
I would like to add the Category: Writers from Winnipeg for Douglas Cumming. He grew up in Winnipeg. Please review. Thank you.Bmjc98 (talk) 21:13, 15 January 2023 (UTC)
 * ✅. ––FormalDude (talk)  21:26, 15 January 2023 (UTC)
 * Thank you so much. Bmjc98 (talk) 13:15, 17 January 2023 (UTC)

Authored Books

 * Cumming, D.J., and S.A. Johan, 2019. Crowdfunding: Fundamental Cases, Facts, and Insights, Elsevier Science Academic Press. (506 pages) Course materials


 * Cumming, D.J., and S.A. Johan, 2014. Venture Capital and Private Equity Contracting: An International Perspective, 2nd Edition, Elsevier Science Academic Press. (756 pages)


 * Cumming, D.J., N. Dai, and S.A. Johan, 2013. Hedge Fund Structure, Regulation and Performance around the World. Oxford University Press. (300 pages)


 * Cumming, D.J., and S.A. Johan, 2009. Venture Capital and Private Equity Contracting: An International Perspective, Elsevier Science Academic Press. (778 pages)

Edited Books

 * Cumming, D.J., S.A. Johan, and G. Wood, 2021. The Oxford Handbook of Hedge Funds, Oxford University Press.
 * Alexander, C., and D.J. Cumming, 2020. Corruption and Fraud in Financial Markets: Malpractice, Misconduct, and Manipulation. Wiley Press.


 * Cumming, D.J., and L. Hornuf, 2018. The Economics of Crowdfunding: Startups, Portals and Investor Behavior. Palgrave Macmillan. (283 pages)


 * Cumming, D.J., and S.A. Johan, 2018. The Oxford Handbook of IPOs, Oxford University Press.


 * Cumming, D.J., G. Wood, I. Filatoctchev, and J. Reinecke, 2017. The Oxford Handbook of Sovereign Wealth Funds, Oxford University Press.


 * Boubaker, S., D.J. Cumming, D.K. Nguyen, 2017. Research Handbook of Investing in the Triple Bottom Line: Finance, Society and the Environment, Edgar Elgar.


 * Boubaker, S., D.J. Cumming, D.K. Nguyen, 2017. Research Handbook of Corporate Finance and Sustainability, Edgar Elgar.


 * Cumming, D.J., A. Guariglia (Change to: M. Firth), W. Hou and E. Lee, 2014. Developments in Chinese Entrepreneurship: Key Issues and Challenges, Palgrave MacMillan.


 * Cumming, D.J., A. Guariglia (Change to: M. Firth), W. Hou and E. Lee, 2014. Sustainable Entrepreneurship in China: Ethics, Corporate Governance, and Institutional Reforms, Palgrave MacMillan.


 * Cumming, D.J., A. Guariglia, W. Hou and E. Lee, 2013. Developing China’s Capital Market: Experiences and Challenges, Palgrave MacMillan. (224 pages)


 * Cressy, R., D.J. Cumming, and C. Malin, 2013. Entrepreneurship, Finance, Governance and Ethics, Springer Press. (455 pages)


 * Cumming, D.J., 2013. The Oxford Handbook of Entrepreneurial Finance, Oxford University Press. (930 pages)


 * Cumming, D.J., 2013. The Oxford Handbook of Venture Capital, Oxford University Press. (1050 pages)


 * Cumming, D.J., 2013. The Oxford Handbook of Private Equity, Oxford University Press. (850 pages)


 * Cressy, R., D.J. Cumming, and C. Malin, 2012. Entrepreneurship, Governance and Ethics, Springer Press. (250 pages)


 * Cumming, D.J., 2010. Venture Capital: Investment Strategies, Structures and Policies, Wiley Press. (592 pages)


 * Cumming, D.J., 2010. Private Equity: Fund Types, Risks and Returns, and Regulation, Wiley Press. (608 pages)

Selected Book Chapters

 * Cumming, D., R. Dannhauser, S. Johan, 2021. “Reputational Effects of Noncompliance with Financial Market Regulations.” In D. Daniel Sokol and B. van Rooij, eds., The Cambridge Handbook of Compliance, Cambridge University Press, Chapter 19, pp. 245–276.


 * Corbett, S., and D. Cumming, 2020. “The Wild West of ICOs” in Shaen Corbet, Andrew Urquhart and Larisa Yarovaya, Eds., Cryptocurrency and Blockchain Technology, De Gruyter, ch.7, pp. 113–130.


 * Cumming, D., S. Johan, 2020. “Securities Regulation” in H.K. Baker, ed. Equity Markets, Valuation, and Analysis, John Wiley & Sons, Inc., Chapter 4.


 * Cumming, D.J., 2019. “Publishing in Finance versus Entrepreneurship/Management Journals” in T. Clark, M. Wright, and D. Ketchen, eds., How to Get Published in Top Management Journals, Wiley, 2nd ed., Chapter 30, pp. 268–281.


 * Cumming, D., S. Johan, 2018. “Law, Culture and Innovation” in Bihong Huang and Xuan Tian, eds. Finance and Innovation: Inclusive and Sustainable Growth,(Add: Asia Pathways.)


 * Cumming, D.J., N. Dai, and S. Johan, 2017. “Hedge Fund Organization” in H. Kent Baker and G. Filbeck, eds., Hedge Funds: Structure, Strategy, and Performance, Oxford University Press, Chapter 5.


 * Cumming, D., and S. Vismara, 2016. “A Research Journey into Entrepreneurial Finance,” David B. Audretsch & Erik E. Lehmann, eds., Companion to Makers of Modern Entrepreneurship. Routledge, Chapter 7.

Selected Articles in Economics and Finance Journals

 * Cumming, D.J., H. Farag, S. Johan, and D. McGowan, 2022. “The Digital Credit Divide: Marketplace Lending and Entrepreneurship” Journal of Financial and Quantitative Analysis, 57 (7), 2659 - 2692.


 * Alperovych, Y., D. Cumming, V. Czellar, A. Groh, 2021. "M&A Rumors about Unlisted Firms" Journal of Financial Economics, 142(3), 1324-1339. Online Appendix to accompany paper.


 * Cumming, D.J., G. Leboeuf, and A. Schwienbacher, 2020. “Crowdfunding Models: Keep-it-All vs. All or Nothing”, Financial Management, 49(2) 331-360.


 * Cumming, D.J., B. Haslem, and A. Knill, 2017. “Entrepreneurial Litigation and Venture Capital Finance” Journal of Financial and Quantitative Analysis, 52(5), 2217-2250.


 * Cumming, D.J., S.A. Johan, and D. Li, 2011. “Exchange Trading Rules and Stock Market Liquidity” Journal of Financial Economics 99(3), 651-671.


 * Cosh, A., D.J. Cumming, and A. Hughes, 2009. “Outside Entrepreneurial Capital” Economic Journal 119, 1494-1533.


 * Cumming, D.J., 2008. “Contracts and Exits in Venture Capital Finance” Review of Financial Studies 21, 1947-1982.


 * Cumming, D.J., and S.A. Johan, 2008. “Preplanned Exit Strategies in Venture Capital” European Economic Review 52, 1209-1241.


 * Cumming, D.J., 2006. “The Determinants of Venture Capital Portfolio Size: Empirical Evidence” Journal of Business 79, 1083-1126.


 * Cumming, D.J., and J. MacIntosh, 2003. “A Cross-Country Comparison of Full and Partial Venture Capital Exits” Journal of Banking and Finance 27(3), 511-548. [Iddo Sarnat Award best paper published in the Journal of Banking and Finance]

Selected Articles in Management and International Business Journals

 * Cumming, D.J., M. Zhang, 2022. "Bankruptcy Law and Angel Investors around the World" Journal of International Business Studies, forthcoming.


 * Cumming, D.J., F. Lopez de Silanes, J. McCahery and A. Schwienbacher, 2020. “Tranching in the Syndicated Loan Market around the World” Journal of International Business Studies, 51, 95–120.


 * Cumming, D.J., S. Ji, S.A. Johan, M. Tarsalewska, 2020. “End-of-Day Price Manipulation and M&As” British Journal of Management, 31, 184–205. (and a video about the paper)


 * Cumming, D.J., R. Peter, M. Tarsalewska, 2020. “Public to Private Buyouts and Innovation” British Journal of Management, 31(4), 811-829. [ABS 4]


 * Cumming, D.J., and M. Zhang, 2019. “Angel Investors around the World” Journal of International Business Studies, 50, 692–719.


 * Cumming, D.J., I. Filatoctchev, A. Knill, D. Reeb, and L. Senbet, 2017. “Law, Finance, and the International Mobility of Corporate Governance” Journal of International Business Studies, 48(2), 123-147.


 * Cumming, D.J., A. Knill, and K. Syvrud, 2016. “Do International Investors Enhance Private Firm Value? Evidence from Venture Capital” Journal of International Business Studies, 47, 347–373.


 * Cumming, D.J., Tak Yan Leung, and O.M. Rui, 2015. “Gender Diversity and Securities Fraud” Academy of Management Journal, 58(5) 1572-1593. (Best Paper Award at EBES Conference, Featured by the New York Times in April 2014).


 * Cumming, D.J., and A. Knill, 2012. “Disclosure, Venture Capital, and Entrepreneurial Spawning” Journal of International Business Studies 43, 563-590. [ABS 4* FT]
 * Cumming, D.J., and U. Walz, 2010. “Private Equity Returns and Disclosure around the World” Journal of International Business Studies 41(4), 727-754.

Selected Papers in Entrepreneurship and Innovation Journals

 * Cumming, D.J., and L. Hornuf, 2022. "Marketplace Lending of Small and Medium Sized Enterprises" Strategic Entrepreneurship Journal, 16(1) 32-66.


 * Bellavitis, C., D.J. Cumming, and T. Vanacker, 2022. “Ban, Boom, and Echo! Entrepreneurship and Initial Coin Offerings” Entrepreneurship Theory and Practice, 46(5), 1136-1169.


 * Cumming, D.J., F. Hervé, E. Manthé and A. Schwienbacher, 2022. “Testing-the-Waters Policy with Hypothetical Investment: Evidence from Equity Crowdfunding” Entrepreneurship Theory and Practice, 46 (4), 1019-1053.


 * Blaseg, D., D.J. Cumming, and M. Koetter, 2021. "Equity Crowdfunding: High- or Low-Quality Entrepreneurs?" Entrepreneurship Theory and Practice, 45(3) 505–530.


 * Cumming, D.J., M. Meoli, S. Vismara, 2019. “Investors’ choices between cash and voting rights: Evidence from dual-class equity crowdfunding,” Research Policy, 48(8), Article 103740.


 * Cumming, D.J., and S. Johan, 2017. “The Problems with and Promise of Entrepreneurial Finance” Strategic Entrepreneurship Journal 11, 357-370.


 * Ahlers, G.K.C., D.J. Cumming, C. Guenther, and D. Schweizer, 2015. “Signaling in Equity Crowdfunding” Entrepreneurship Theory and Practice, 39, 955-980. (Australian Venture Capital and Private Equity Association Best Paper Award; 2021 Helena Yli-Renko Research Impact Award, sponsored by the Lloyd Greif Center for Entrepreneurial Studies at the USC Marshall School of Business).


 * Cumming, D.J., and N. Dai, 2013. “Why do Entrepreneurs Switch Lead Venture Capitalists?” Entrepreneurship Theory and Practice, 37, 999-1017. (Bank of Canada Best Paper Award on Canadian Financial Institutions, Northern Finance Association 2011).


 * Cumming, D.J., and E. Fischer, 2012. “Publicly Funded Business Advisory Services and Entrepreneurial Outcomes” Research Policy 41, 467-481.


 * Cumming, D.J., D. Schmidt and U. Walz, 2010. “Legality and Venture Capital Governance around the World” Journal of Business Venturing 25, 54-72.

Selected Articles in Law, Economics, and Policy Journals

 * Cumming, D.J., S. Johan, Y. Zhang, 2018. “Public Policy Towards Entrepreneurial Finance: Spillovers and the Scale-up Gap” Oxford Review of Economic Policy, 34, 652-675.


 * Carpentier, C., D.J. Cumming, and J.M. Suret, 2012. “The Value of Capital Market Regulation: IPOs versus Reverse Mergers” Journal of Empirical Legal Studies 9, 56-91.


 * Cumming, D.J., and N. Dai, 2009. “Capital Flows and Hedge Fund Regulation” Journal of Empirical Legal Studies 6, 848-873.


 * Cumming, D.J., and S. Johan, 2008 “Global Market Surveillance” American Law and Economics Review 10, 454-506.


 * Armour, J., and D.J. Cumming, 2008. “Bankruptcy Law and Entrepreneurship” American Law and Economics Review 10, 303-350. Reviewed in James Surowiecki, April 7, 2008, “Going for Broke” in The New Yorker.


 * Cumming, D.J., and S.A. Johan, 2008. “Hedge Fund Forum Shopping” University of Pennsylvania Journal of Business Law 10(4), 783-831. (Lead Article).


 * Armour, J., and D.J. Cumming, 2006. “The Legislative Road to Silicon Valley” Oxford Economic Papers 58, 596-635.


 * Cumming, D.J., and J. MacIntosh, 2003. “Venture Capital Exits in Canada and the United States” University of Toronto Law Journal 53, 101-200.


 * Cumming, D.J., and J. MacIntosh, 2002. "The Rationales Underlying Reincorporation and Implications for Canadian Corporations" International Review of Law and Economics 22(3), 277-330.


 * Cumming, D.J., and J. MacIntosh, 2000. "The Role of Interjurisdictional Competition in Shaping Canadian Corporate Law" International Review of Law and Economics 20(2): 141-186. (Lead Article)

Please review. Thank you. Bmjc98 (talk) 03:35, 18 January 2023 (UTC)


 * The maintenance banner was appropriate because none of the written works had proper citations. I added the citations per the edit request here, and then removed the maintenance banner. Now, with the writing section complete and citations added, other editors are encouraged to consider whether this Wikipedia biography should be slimmed down. I personally think it should be, and a maintenance banner could be added saying the article is written to much like a resume. I would not object if another editor removed the writing sections entirely, replacing them with perhaps a few of the most WP:Notable or influential examples, if any qualify. This article seems too long and too deep in the minutiae for this biography. Other editors are encouraged to consider these comments and review and edit the article accordingly. Go4thProsper (talk) 20:26, 5 March 2023 (UTC)


 * I agree per WP:NOTCV and the full list of books should be removed. Feel free to list to an actual CV or Google Scholar, but this article is supposed to be encyclopedic and a list of books / articles (even a selection) is not that. It is fine to discuss the number of articles published and their significance but there are better places for lists like this. --hroest 17:09, 27 March 2023 (UTC)

Update citations
In 2022, Cumming was listed as one of the top-92 cited scholars in the world in the area of business and economics.

Venture capital and private equity scholarship: Over 2001-2021, Cumming was the most frequently published academic author in the world in the area of venture capital and the third most cited author in the world on venture capital; also, he was the second most frequently published academic author in the world in the area of private equity and the most cited author in the world on private equity.

Cumming's 2010 research in the Journal of International Business Studies, first presented at the European Finance Association in 2004, was the first to show that private equity fund managers exaggerate their expected returns reported to institutional investors on investments that have not yet been exited.

Cumming’s work on government venture capital was influential in leading to a repeal of tax subsidies to labor-sponsored venture capital funds in Canada.

Cumming has worked as an expert witness on numerous litigation cases involving matters that include but are not limited to tax evasion, improper disclosure, financial accounting fraud, market manipulation (price manipulation, marking the close, layering, spoofing, wash trading, aggressive trading, pre-arranged trading, among others, using SMARTS computerized algorithmic technology/RegTech), hedge fund misconduct, mutual fund misconduct, valuation and disclosure in mergers and acquisitions, cancellation of dividends, market efficiency and damages, wrongful dismissal, and valuation of private enterprises backed by venture capital and private equity funds. Cumming has advised regulatory bodies in North America, Europe, and Australasia on financial market regulation, including matters pertaining to trading rules, surveillance, venture capital programs, taxation, and crowdfunding legislation.

FRL's cites/doc increased from 0.653 to 1.222 (87% increase) in the three years he was Managing Editor-in-Chief; JCF's impact factor increased from 2.394 to 4.308 (80% increase) in the three years he was Managing Editor-in-Chief; BJM's cites/doc increased from 3.023 to 6.567 (117% increase) after his first year as Managing Editor-in-Chief; JIBE's cites/doc increased from 0.720 to 1.824 (153% increase) after his first year as Editor-in-Chief.

Bmjc98 (talk) 16:17, 22 March 2023 (UTC)


 * Hello . I hope it is okay that I split your post into sub-sections (and copied your signature into each sub-section), to hopefully make it easier to follow.
 * Here are my comments on this first sub-section: The first two citations do not seem to support the proposed text. The sentence "...leading to a repeal of tax subsidies" is unsourced.
 * Regards, MrsSnoozyTurtle 21:40, 22 March 2023 (UTC)
 * Oh. Sorry about that. I will make sure to do sub-sections next time. By the way, I will add a source on that later. Thanks for the feedback. Bmjc98 (talk) 02:25, 23 March 2023 (UTC)
 * Hi again! I forgot to include the source for that text, which you can find on the subject's page. However, since you've mentioned it, I also added another one. I hope that works. Also, I've just added a few texts. Thank you.Bmjc98 (talk) 08:16, 23 March 2023 (UTC)

Remove text
Please remove this part, please:

Cumming has completed a number of marathons, including the 2001 Boston Marathon in a time of 3:05.[40][importance?] Cumming is an active skateboarder and snowboarder.[1][importance?] Cumming is married to Sofia Johan[41] and they have 2 children.[1][importance?]

Bmjc98 (talk) 16:17, 22 March 2023 (UTC)


 * I would say to leave the information in that he is married and has 2 children but remove the name of his wife and everything else:
 * Cumming is married and has 2 children.[1]
 * which seems information that is generally found in biographical articles of people that are semi-famous (while famous people would have names of wives and children public) see WP:BLPPRIVACY. --hroest 17:05, 27 March 2023 (UTC)

Add text
Under awards and honors, can you please add these two:

2022: Fellow, British Academy of Management

2019 Journal of International Business Studies, Silver Medal

Add the text after this:

Cumming is the Founding Managing Editor-in-Chief of the Review of Corporate Finance ("RCF") which started publishing papers in 2021.[2][7][8][45][66] As of December 2022, 33 papers were published by RCF which were cited over 500 times.


 * Reason for the change: To help improve the page.

I hope these update can help improve the page. Thank you. Bmjc98 (talk) 16:17, 22 March 2023 (UTC)


 * Red information icon with gradient background.svg Not done: Request seems largely mute. The article has significantly changed since this request was made;  has removed large portions of the same content that has been proposed here., when making a new request, please address Hannes Röst's concerns and clearly explain how the requested edit aims to improve the article. Throast  {  { ping }} me! (talk &#124; contribs) 21:01, 22 June 2023 (UTC)


 * Hi! I apologize for the late reply. This request to edit was long, long gone. There had been a significant cleanup to keep the page alive. It's all good now. Thanks for the update, and I will keep it in mind to explain why a requested edit is necessary. Thanks again. Bmjc98 (talk) 01:13, 30 June 2023 (UTC)