How environmental and social orientations influence the funding success of investment-based crowdfunding: The mediating role of the number of funders and the average funding amount

Hörisch, Jacob; Tenner, Isabell

doi:10.1016/j.techfore.2020.120311

Cited by 55 publications

(35 citation statements)

References 60 publications

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“…Expectations are that crowdfunding will be able to unleash the great potential for contributing to sustainable development by providing financial resources for financing environmen-tally and socially oriented ventures (Hörisch and Tenner, 2020). As Hörisch (2015) states, crowdfunding offers a new potential source of financing, which is frequently expected to favour environmentally oriented ventures.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Jovanović (2019) also states that crowdfunding has proven to be a good financial source for social or sustainability projects as several researchers found. Hörisch and Tenner (2020) found evidence that environmental orientation increases funding success. By analyzing crowdfunding oriented to activities with a positive impact on social and ecological issues in Spain, Rubio Martin (2020) concludes that crowdfunding turns out to be a very useful tool to achieve growth based on sustainability.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Hörisch (2015) concluded that this influence could not be generalized because the study only showed a positive relationship between the success of crowdfunding campaigns and proposals that generate tangible products (Martínez-Climent et al, 2019). Hörisch and Tenner (2020) argue that the influence of environmental orientation on funding success is found to be particularly strong in the USA. Prędkiewicz and Kalinowska-Beszczyńska (2020) found that eco-projects treated as a homogenous group are no different than other types of projects present on a crowdfunding platform and that motional narratives do not increase chances of success for crowdfunding of eco-projects.…”

Section: Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

Financing agri-food business in the Mediterranean area through crowdfunding: Do environmental issues matter?

2021

New Medit

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Global expectations are that crowdfunding will be able to unleash the great potential for contributing to sustainable development by providing financial resources for environmentally and socially oriented ven-tures. The purpose of this paper is to estimate which factors, including the orientation to sustainability, foster the likelihood of crowdfunding success in agri-food campaigns. Using a sample of crowdfunding campaigns launched in the Kickstarter platform, this paper employs a binary logistic regression model to investigate factors that motivate investment decisions. The results demonstrate that the campaigns that are rated as sustainable show a positive, statistically relevant relation to the success. In addition, improv-ing the quality and complexity of the project, together with the realistic setting of goal increase the odds of success. In the era of innovative finance, this paper contributes to the growing literature and initiatives to promote and develop crowdfunding in the agri-food industry.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

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Financing agri-food business in the Mediterranean area through crowdfunding: Do environmental issues matter?

2021

New Medit

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“…Including ventures that make use of crowdfunding as a database helps to overcome this obstacle of lacking data in entrepreneurship research. Therefore, we use the database also described by Hörisch and Tenner (2020). For this dataset, data on 320 ventures was collected during April 2018 by manually screening content from the US platforms First Democracy VC and Start Engine, as well as the German platforms Seedmatch and Companisto.…”

Section: Data Collectionmentioning

confidence: 99%

Diversity matters: the influence of gender diversity on the environmental orientation of entrepreneurial ventures

Tenner

Hörisch

2021

J Bus Econ

Self Cite

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Environmental entrepreneurship bears great potential to promote sustainable development. Several influencing factors on the level of environmental orientation have been identified by past literature. In this respect, mixed results occur with regard to the influence of gender on environmental entrepreneurship. However, these studies simply investigated the level of a single entrepreneur by distinguishing between male and female individuals, although ventures are increasingly founded by entrepreneurial teams. Consequently, this study quantitatively addresses the research question how the gender of founding teams influences the environmental orientation of entrepreneurial ventures. Based on a dataset of entrepreneurial ventures from the US and Germany, our results indicate that the level of environmental orientation is not dependent on the share of female members, but rather on the gender diversity of the founding team. We conclude that gender diversity within the entrepreneurial team is necessary to address both ecological and economic goals of environmental entrepreneurship. Based on this finding, theoretical and practical implications are drawn, in particular for policy, entrepreneurial teams and entrepreneurship training.

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“…However, since 2006, there has been a notable increase in incorporating these fundamental criteria and some new ones such as venture capital. Horisch and Tenner (2020) specifically mention that one of the sustainability factors in entrepreneurship refers to the availability of non-traditional sources of financing, focussing their study on crowdfunding. Ivari et al (2021) also highlight cooperatives and rural associations as alternative financing methods for entrepreneurship.…”

Section: Introductionmentioning

confidence: 99%

Bibliometric analysis of alternative financing for entrepreneurship

Coronel-Pangol¹,

Orden‐Cruz²,

Paule-Vianez³

2022

cuadernosgestion

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One of the main limitations of entrepreneurship is access to finance, especially in the early stages. Over the years, new sources of finance have evolved to respond to this need and provide new options for entrepreneurs. Using a bibliometric analysis, this paper examines the evolution of the academic literature and analyses the relationship between entrepreneurship and alternative financing over three periods of time (1975-1999, 2000-2010, and 2011-2020). This work aims to provide a clearer view of the evolution of this relationship and identifies current trends and future lines of research. The data were obtained from the Web of Science (WOS) database and systematized using SciMAT software. Results show that venture capital and business angels have become the main financing sources for entrepreneurs, being the most studied from different approaches, especially since 2000. Incubators in universities and research centers, corporate governance, and development of this type of financing in emerging countries are emerging as potential areas for further research in this field.

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How environmental and social orientations influence the funding success of investment-based crowdfunding: The mediating role of the number of funders and the average funding amount

Cited by 55 publications

References 60 publications

Financing agri-food business in the Mediterranean area through crowdfunding: Do environmental issues matter?

Financing agri-food business in the Mediterranean area through crowdfunding: Do environmental issues matter?

Diversity matters: the influence of gender diversity on the environmental orientation of entrepreneurial ventures

Bibliometric analysis of alternative financing for entrepreneurship

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