Sustainable aim and personal gain? How sustainable value affects the relation between personal value and crowdfunding success

Siebeneicher, Sven; Bock, Carolin

doi:10.1016/j.techfore.2022.121938

Cited by 12 publications

(6 citation statements)

References 83 publications

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“…According to the literature, in the non-financial-return CF context, for example, Hörisch [4] finds a negative effect of environmental orientation. Meanwhile, other publications indicate positive relations between sustainable orientation and campaign success since investors tend to focus on ideas and values rather than on collaterals and business plans [7,92]. Similarly, Pitschner and Pitschner-Finn [93] find a higher success rate for non-profit donation-based campaigns.…”

Section: How Sustainability Affects Crowdfunding Successmentioning

confidence: 98%

“…CF might have the potential to promote sustainable development and innovation [2,7,8], such as financing renewable energies [6,9]. In general, sustainable actions require considering future generations to ensure that todays' actions do not compromise the actions of future generations [63].…”

Section: Financial-return Crowdfunding For Sustainabilitymentioning

confidence: 99%

“…This growth is observable across platforms, which differ in terms of their orientation (e.g., towards real estate or energy and sustainability) [2]. Many scholars expect CF to have the potential to contribute significantly to sustainable development [2][3][4][5][6][7]. Therefore, CF is suitable for promoting sustainable innovation [2,5,8] or financing renewable energies [6,9,10].…”

Section: Introductionmentioning

confidence: 99%

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Financial-Return Crowdfunding for Energy and Sustainability in the German-Speaking Realm

Siebeneicher¹,

Yenice²,

Bock³

2022

Sustainability

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The transformation of the energy system is among the most relevant topics of the current public debate in the German-speaking realm. Crowdfunding is suitable for promoting sustainable development, such as financing renewable energies. We investigate success determinants of financial-return crowdfunding to understand how this financing technique can contribute to realizing sustainable development, such as the energy transition. We conduct a cross-platform study and consider sustainably oriented campaigns to answer two research questions: First, what determinants influence financial-return crowdfunding success? Second, how does a sustainable orientation affect these success determinants? We rely on signaling theory to investigate the effect of quality signals. We consider four meta-platforms that aggregate campaigns with sustainable and other funding purposes, obtaining a dataset of 434 financial-return crowdfunding campaigns, mainly from Austria and Germany. We use hierarchical linear regression models for our statistical analysis. Our findings indicate that sustainable orientation alone does not significantly affect crowdfunding success. Entrepreneurs can increase their chances of campaign success by raising the interest rate unless their campaign has a sustainable orientation. In sustainably oriented campaigns, the effect of the interest rate is compensated. Finally, we find no significant evidence suggesting that the campaign duration affects sustainable or non-sustainable crowdfunding success.

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Section: How Sustainability Affects Crowdfunding Successmentioning

confidence: 98%

Section: Financial-return Crowdfunding For Sustainabilitymentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Financial-Return Crowdfunding for Energy and Sustainability in the German-Speaking Realm

Siebeneicher¹,

Yenice²,

Bock³

2022

Sustainability

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“…Existing research predominantly focuses on the role of comments from backers and potential backers in green crowdfunding [30,33,34]. However, the utilization and operationalization of these comments in managing a green crowdfunding campaign, and their contribution to its success, remain underexplored.…”

Section: Theoretical Background and Hypotheses Developmentmentioning

confidence: 99%

“…To begin, we decided to focus on projects made available on Kickstarter and Indiegogo as those platforms are the most globally known regarding reward-based crowdfunding [77] and also because they served in many types of research as a common data source for this type of crowdfunding [34,78]. For the identification of green crowdfunding initiatives, we utilized data assembled by a web scraping enterprise [79] that possesses collections of Kickstarter and Indiegogo projects.…”

Section: A Data Collectionmentioning

confidence: 99%

Green Crowdfunding: An Empirical Study of Success Factors

Corsini,

Appio,

Frey

2024

IEEE Trans. Eng. Manage.

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Despite the growing body of research on crowdfunding, there is still a critical need to clarify the essential elements of its connection to sustainability. This study explores how various constructs, such as green product co-design, green market insight, environmental legitimacy, and the stage of product development, bear on the success of crowdfunding endeavors intended to finance eco-friendly products. We employed a questionnaire to gather insights from 113 campaign initiators, deviating from the predominant focus on web-based data collection found in much of the existing literature. The collected data were then examined through the application of structural equation modeling techniques. The findings indicate that, with the exception of environmental legitimacy, all the examined constructs exhibited a positive effect on the campaign's success. Furthermore, it was observed that the stage of development subtly diminishes the positive relationship between green product co-design practices and the success of a crowdfunding campaign. Our study offers valuable theoretical insights in light of these findings. Additionally, the paper proffers pragmatic suggestions for more effective crowdfunding of sustainable products.

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Success Factors in Sustainability and Circularity-Oriented Crowdfunding Campaigns

Corsini,

Frey

2024

Crowdfunding for Environmental Sustainability and the Circular Economy

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Sustainable aim and personal gain? How sustainable value affects the relation between personal value and crowdfunding success

Cited by 12 publications

References 83 publications

Financial-Return Crowdfunding for Energy and Sustainability in the German-Speaking Realm

Financial-Return Crowdfunding for Energy and Sustainability in the German-Speaking Realm

Green Crowdfunding: An Empirical Study of Success Factors

Success Factors in Sustainability and Circularity-Oriented Crowdfunding Campaigns

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