Crowdfunding Awareness in Turkey

Sirma, I Nyoman; Ekici, Oya; Aytürk, Yusuf

doi:10.1016/j.procs.2019.09.080

Cited by 7 publications

(8 citation statements)

References 6 publications

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“…However, Nigerians are more found to be interested to participate in the crowdfunding campaigns. In Turkey, Sirma et al (2019) find that 54% of the youth from a university in Istanbul do not understand the terms of crowdfunding, but their awareness is still relatively high compared to youths from a university in Spain. In Malaysia, Salim and Kassim (2019) find that 62% of youth entrepreneurs have a low level of awareness of crowdfunding while Wasiuzzaman et al (2021) find that only 49.1% of their respondents have experience in crowdfunding.…”

Section: Literature Review and Hypothesis Formulationmentioning

confidence: 95%

“…This is further supported in the study by Salim and Kassim (2019) who find that Malaysian youth entrepreneurs prefer donation-based crowdfunding. Moon and Hwang (2018) suggest that the most appropriate crowdfunding model for technology projects in Korea is the donation-based model while in Turkey, the most preferred crowdfunding model from the point of view of the fundraiser is the reward-based model but backers prefer to use the equity-based model (Sirma et al , 2019). For renewable energy projects, the most preferred crowdfunding model is the equity-based model, as found by the CrowdFundRES Survey (Bergmann et al , 2016).…”

Section: Literature Review and Hypothesis Formulationmentioning

confidence: 99%

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Crowdfunding green projects in Brunei: awareness and investing preferences

Wasiuzzaman

Pungut

Don

2021

MEQ

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PurposeThe objectives of this study are to determine the level of awareness of crowdfunding and green projects among Bruneians, to investigate the preference of Bruneians regarding funding through crowdfunding as well as to evaluate the willingness of Bruneians to use crowdfunding as a funding alternative for green projects in Brunei. In addition to that, this study aims to identify the effects of environmental awareness and environmental concern on the willingness to crowdfund green projects.Design/methodology/approachA total of 177 responses from an online questionnaire distributed via convenience and snowball sampling was used for data analysis. Frequency, descriptive, correlation and regression analyses are used to achieve the aims of this study.FindingsThe study finds that the awareness of the concepts of crowdfunding and green project is high among Bruneians, but the level of their familiarity of crowdfunding platforms and climate change issues is very low. Regression analysis carried out to test the effects of awareness and concern on willingness indicates that while environmental concern has a significant positive effect on the willingness to support crowdfunded green projects, environmental awareness is insignificant.Originality/valueThe study highlights that government policy should be aimed at not just increasing awareness but at increasing the knowledge of the impacts of climate change issue that will raise concern and improve participation of residents in green projects. The study focuses on a rarely studied population, the people of Brunei.

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Section: Literature Review and Hypothesis Formulationmentioning

confidence: 95%

Section: Literature Review and Hypothesis Formulationmentioning

confidence: 99%

Crowdfunding green projects in Brunei: awareness and investing preferences

Wasiuzzaman

Pungut

Don

2021

MEQ

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“…Accordingly, two sections in the questionnaire discriminated broader, social reasons, and personal motivation. The 7item section on entrepreneurs' motivation to pursue CF was adapted from previous research, namely the qualitative investigation of Vergara (2015) that produced insight on motivations for CF in the Philippines; the quantitative study of Sırma et al (2019) conducted in Turkey, focusing on entrepreneurs' motivation to rely on CF; and the study of De León and Mora (2017) that compared people's motivation for participation in CF in Trinidad and Tobago, and Jamaica, based on successes across various industries.…”

Section: Methodsmentioning

confidence: 99%

The potential of crowdfunding to promote business in the context of an emerging economy

2022

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Crowdfunding has the potential to change the historic standards of the financial services industry and reduce gaps between supply and demand economics. Over the past ten years, it has received increasing attention. However, the potential that crowdfunding holds in less fortunate economic contexts where SMEs are probably needed the most has not yet attracted the attention that it deserves. Acknowledging the influence of knowledge about crowdfunding, this research explores the viability of crowdfunding as a source of capital for SMEs, in a developing country. The research aimed to determine the difference in alignment that may exist from both the perspective of the investor and entrepreneur on the most suitable type of crowdfunding and motivations for venturing into a crowdfunding initiative. Empirical evidence was gathered through an electronic, quantitative survey. Statistical procedures included exploratory factor analysis, specifically Principal Axis Factoring, using Varimax rotation with Kaiser Normalization. Two-tailed t-tests were used to distinguish the preferences and anticipated behaviour of investors and entrepreneurs distinguishing respondents in terms of their knowledge about crowdfunding. Results indicate that it is crucial to create an increased awareness of crowdfunding among the broader public, amid evidence of empathy towards new businesses and willingness to support even up-starts, also indicating that investors' and entrepreneurs' motivation to participate in crowdfunding is not necessarily financially driven.

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“…But unfortunately, many of them are unaware of this method or find it difficult or too risky. According to Sırma, Ekici, and Aytürk (2019), the awareness level of university youth in Turkey is still low. Still, most of them are willing to use it as fundraisers or even as investors.…”

Section: Introductionmentioning

confidence: 99%

Why crowdfunding? Understanding crowdfunding and the marketing roots of this fundraising model in Turkey

Debbabi

Kaplan

2022

bmij

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The widespread use of the Internet and Web 2.0 emergence have promoted crowdfunding worldwide. In particular, crowdfunding exhibits significant growth potential in developing countries. It also constitutes a novel investment and financing mode that overtakes funding institution capabilities by providing practical marketing tools. Despite its considerable progress reported in developed countries, the deployment of this multidisciplinary economic model remains limited and restricted in developing countries. Turkey represents a promising emerging market for crowdfunding activities with its recent regulations. The potential of such an economic model is subject to further awareness of the crowd and investors (especially entrepreneurs) of crowdfunding concepts. This paper provides a narrative review where the authors aim to survey, synthesize, and discuss crowdfunding as a marketing tool and its relevant principles. Specifically, it depicts the bases and objectives of crowdfunding activities. Moreover, it introduces the marketing foundations relevant to this funding model to motivate the use of crowdfunding in developing countries such as Turkey.

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Crowdfunding Awareness in Turkey

Cited by 7 publications

References 6 publications

Crowdfunding green projects in Brunei: awareness and investing preferences

Crowdfunding green projects in Brunei: awareness and investing preferences

The potential of crowdfunding to promote business in the context of an emerging economy

Why crowdfunding? Understanding crowdfunding and the marketing roots of this fundraising model in Turkey

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