Borrowing or crowdfunding: a comparison of poverty alleviation participation modes considering altruistic preferences

Zhou, Yanju; Zhang, Jie; Zeng, Yimeng

doi:10.1080/00207543.2020.1821117

Cited by 17 publications

(10 citation statements)

References 26 publications

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“…Many small entrepreneurs seek traditional financing without success due to the large number of requirements requested by banks (Zhou et al, 2021) and, on the other hand, many people with large incomes seek to find investments that provide attractive returns (Kollenda, 2022). LCFP lending crowdfunding platforms are also known as Peer to Peer (P2P) platforms that allow interaction between lenders and entrepreneurs thanks to the use of financial technology (Demir et al, 2021;Nisar et al, 2020).…”

Section: Lending Crowdfunding Platformsmentioning

confidence: 99%

Crowdfunding platforms: a systematic literature review and a bibliometric analysis

Mora-Cruz

Palos-Sánchez

2023

Int Entrep Manag J

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Due to the financial crisis caused by the COVID-19 pandemic, entrepreneurs and small businesses have had multiple difficulties accessing conventional types of financing. Crowdfunding platforms have gained popularity as an alternative means of online financing. The main objective of this research is to analyze the most important articles that may influence future studies on crowdfunding platforms in Latin America. This article analyzes the Scopus and Web of Science databases considering three of the four categories of crowdfunding based on capital flows: Reward, Equity, and Lending, using a systematic review of the literature and bibliometric analysis. This research resulted in a total of 1032 articles which, after applying the appropriate criteria, resulted in 55 selected articles. The results show that the number of studies conducted in the field of crowdfunding platforms is increasing. Crowdfunding platforms provide a great opportunity for entrepreneurs to obtain alternative financing and a new way for investors to invest their capital. Future lines of research include conducting studies that involve a stronger focus on the technology used in crowdfunding platforms. With systematized access to information, the different actors can understand how the dynamics of crowdfunding platforms can stimulate the development of business projects, as well as the decision-making factor when investing. This document is of great interest to researchers and professionals who wish to increase their knowledge of crowdfunding platforms, especially those of Reward, Equity, and Lending, in addition to gaining knowledge on relevant conclusions and suggestions for future research.

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Section: Lending Crowdfunding Platformsmentioning

confidence: 99%

Crowdfunding platforms: a systematic literature review and a bibliometric analysis

Mora-Cruz

Palos-Sánchez

2023

Int Entrep Manag J

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“…Hua et al [19] extend their work by taking uncertain demand and capital-constrained retailers into consideration and identify when the supplier's relationship concern can improve the supply chain's efficiency. As to altruistic consumers, Zhou et al [20] investigate how poor farmers choose the traditional mode or the crowd-funding mode for poverty alleviation. They discover that the optimal mode is determined by the scale of altruistic consumers.…”

Section: The Operational Decisions With Altruistic Preferencementioning

confidence: 99%

“…Thus, it is quite natural that the platforms exhibit altruistic preference. Altruistic preference has been investigated in a large amount of literature on operational decisions [17][18][19][20], but relatively little work has been done to examine the platform-retailer systems with logistics constraints during an epidemic. Our study fills this gap by explaining the role of logistic constraints in the platforms' behavior of subsidizing the retailers.…”

Section: Introductionmentioning

confidence: 99%

How Should E-Commerce Platforms Subsidize Retailers with Logistics Constraints during an Epidemic Scenario? Considering Power Structure and Altruistic Preference

Zhang

2021

JTAER

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To maintain the sustainable development of a platform’s economy, e-commerce platforms put forward various subsidy programs to retailers selling on them during COVID-19. This paper investigates an e-commerce platform’s decision on subsidizing a retailer selling on it with logistics constraints during an epidemic scenario, with a focus on the role of power structure and altruistic preference. By constructing two Stackelberg game models, the research obtains the optimal subsidy under two power structures (i.e., the dominant platform and the weaker platform), respectively. The comparison between them shows that the conditions of the dominant platform giving subsidies (both altruistic preference and logistics constraints should be higher enough) are stricter than the weaker platform. Considering the same altruistic preference and logistics constraints, the optimal subsidy provided by the weaker platform should always be not less than the dominant platform. However, the weaker platform, surprisingly, can get more utility by lowering its altruistic preference voluntarily when the commission fee is low. No matter what the power structure is, the optimal subsidy increases with the logistics service coefficient and altruistic preference, and the dominant member’s profit/utility is not less than the weaker one, which confirms “the first mover advantage”. Finally, more managerial implications to the platform-retailer systems are discussed.

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“…They find that crowdfunding platforms should recommend crowdfunding activities to most part of platform users in early period. [48] and [51] studies two new types of crowdfunding: flight crowdfunding and agricultural crowdfunding. [48] proves that crowdfunding model is optimal for airlines in a competitive market.…”

mentioning

confidence: 99%

“…However, this may be not that case in a monopolistic market. [51] compares agricultural crowdfunding model and traditional sales model, and find that which model is optimal is affected by the degree of risk aversion, loan interest rate, demand uncertainty and crowdfunding risk.…”

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confidence: 99%

Platform contract selection and coordination contract design in reward-based crowdfunding

Zhou

Wang

et al. 2023

JIMO

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<p style='text-indent:20px;'>As a new financing method, crowdfunding has alleviated the capital pressure for start-ups, and has attracted extensive attention of scholars. As an intermediary, crowdfunding platforms obtain benefits from providing services. However, the way of charging commission fees still remains a problem for platforms. This paper investigates the impacts of three service contracts, i.e., revenue sharing contract, per-unit fee contract, and fixed fee contract on the creator and platform. Using backward induction, we derive equilibrium results and get some conclusions. First, we find that under fixed fee contract, due to the trade-off between commission fee and crowdfunding success probability, the platform can only make decisions according to first-order conditions, and get partial profits from the creator. This contradicts the traditional view that the fixed fee contract allows leaders to get all the follower's profits in a stackelberg game. Further, we find that compared with revenue sharing contract and per-unit fee contract, the fixed fee contract is mostly although, not always worse (better) for the platform and system (the creator). Third, in the case of consumer homogeneity, we prove the equivalence of revenue sharing contract and per unit fee contract. However, we find that the efficiency of revenue sharing contract decreases when quality is endogenous, while when consumers are heterogeneous, the advantage of per unit fee contract for the platform decreases. In addition, we design a two-part tariff contract and prove that it can achieve coordination when the platform bears partial fixed cost. The two-part tariff contract can simultaneously improve the benefits of all parties with the appropriate parameters.</p>

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Borrowing or crowdfunding: a comparison of poverty alleviation participation modes considering altruistic preferences

Cited by 17 publications

References 26 publications

Crowdfunding platforms: a systematic literature review and a bibliometric analysis

Crowdfunding platforms: a systematic literature review and a bibliometric analysis

How Should E-Commerce Platforms Subsidize Retailers with Logistics Constraints during an Epidemic Scenario? Considering Power Structure and Altruistic Preference

Platform contract selection and coordination contract design in reward-based crowdfunding

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