Crowdfunding through a partial organization lens – The co-dependent organization

Nielsen, Kristian Roed

doi:10.1016/j.emj.2018.01.006

Cited by 36 publications

(26 citation statements)

References 55 publications

(90 reference statements)

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“…In contrast, the table shows a negative relationship of APR, the cost of a loan, with SCORE and TERM, as well as between LEV with SOLV and ROA, and, finally, K I with ROE. Nevertheless, in the different models proposed, Equations (4), (5), and (6), we have observed in them a level of variance inflation factor: VIF (the index that measures how much the variance of an estimated regression coefficient is increased because of collinearity) of equal or less than 5, ensuring an acceptable level of it to avoid multicollinearity in each combination of these variables.…”

Section: Descriptive Analysismentioning

confidence: 94%

“…Equations (5) and (6) incorporate ROA and ROE as independent variables to contrast Hypotheses 3 and 4, and, unlike the previous equation, the financial and loan characteristics play the role of control variables:…”

Section: Community (Social Action and Social Impacts)mentioning

confidence: 99%

“…Therefore, crowdfunding consists of obtaining capital resources, generally in small amounts and through a group of investors [3,4]. It is characterized "by the successful interaction between a facilitating organization (or platform), a variety of business founders seeking financial support for their ideas and ventures, and a large dispersed "crowd" of individuals ("crowdfunders") who are invited to invest, pledge, lend or donate money for these ideas and ventures" [5].…”

Section: Introductionmentioning

confidence: 99%

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Corporate Social Responsibility and Crowdfunding: The Experience of the Colectual Platform in Empowering Economic and Sustainable Projects

2020

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In recent years, sustainable crowdfunding has been one of the key elements in the search for new sources of financing. This has involved eliminating financial barriers and intermediaries, bringing entrepreneurs’ projects closer to fund providers, and thus instigating changes in traditional investment and profitability parameters. Among these indicators, the sustainable business return and its relationship with Corporate Social Responsibility (CSR) could be a relevant factor to improve the cost of funding, to explain the return on assets (ROA), and, consequently, impacting on the return on equity (ROE). In this context, this paper takes as a reference 101 projects that are part of Colectual’s lending. We analyze factors such as sustainability—the application of CSR across a social responsibility index; the financial characteristics of the company—liquidity, leverage, and solvency; and the characteristics of the loans related to crowdfunding—amount, maturity, and charge rate of the loan. Our study provides empirical evidence that, besides financial characteristics, the commitment to CSR can improve collective lending and the management of resources, as well as enhance the capital wealth of companies, by improving shareholder profitability or ROE. Investors consider not only financial risk but also sustainability factors.

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Section: Descriptive Analysismentioning

confidence: 94%

Section: Community (Social Action and Social Impacts)mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Corporate Social Responsibility and Crowdfunding: The Experience of the Colectual Platform in Empowering Economic and Sustainable Projects

2020

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“…It excludes campaigns for public events, festivals, or civic activism as not being part of civCF in the narrow sense. In this definition, collaboration distinguishes civic crowdfunding from other forms of public fundraising for infrastructure (such as municipals bonds, social impact bonds), supporters can observe each other's actions on the crowdfunding platform and thus coordinate their behaviour indirectly (Nielsen 2018).…”

Section: Definition and Perspectives Of Civic Crowdfundingmentioning

confidence: 99%

“…The last perspective to be considered is the functionalities and constraints of the civic crowdfunding platform. The intermediation of platforms is the predominant form of crowdfunding across the globe (Nielsen 2018). Platforms curate and select projects.…”

Section: Perspective 4: Platformmentioning

confidence: 99%

Civic Crowdfunding: Four Perspectives on the Definition of Civic Crowdfunding

Wenzlaff¹

2020

Advances in Crowdfunding

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Campaigns are also hosted on few equity-based CFPs and lendingbased CFPs (Assenmacher 2017; Catapult 2018; Wenzlaff et al. 2015; Old et al. 2019). The civic equity-based crowdfunding platform "Leih-Deiner-Stadt-Geld" (Lend money to your city) is facilitating equity investments in city property, such as an investment into firearms equipment at the city of Oestrich-Winkel (LeihDeinerStadtGeld GmbH 2012). Civic crowdfunding campaigns can be found on special-purpose CFPs, with Spacehive being the most prominent international example. Italy, France, the Netherlands, the UK, Germany, and many other countries have seen platforms dedicated to civic crowdfunding, with a majority of platforms offering donations and pre-sales of rewards. Almost all major international reward-based platforms (like Kickstarter, Indiegogo, GoFundme) and many local reward-based platforms have introduced project categories focussing on civil purposes (Davies 2014). The German platform 'startnext', in its category called 'Community', featured projects such as the funding of a fountain in a Berlin Park or the Pacific Garbage Screening Project (Förderkreis des FEZ-Berlin e.V. 2018; PGS-Team 2018). The Italian platform Produzioni Dal Basso is an all-purpose CFP which features the category of 'Social and Community', making up 1145 projects (of 5771 projects in total) and EUR 3.6m (of 11.4m in total) and thus constituting the biggest category on the platform. It is interesting to reflect on the interaction between all-purpose CFPs and special-purpose CFPs. The history of platform-based crowdfunding cannot be summarized in this chapter, but with regard to civCF, it should be noted that the first reward-based platforms were special-purpose CFPs dedicated to music and film (Sellaband, Artistshare) which gave rise to all-purpose platforms (Kickstarter, Indiegogo). The success of platforms like Kickstarter and Indiegogo influenced the founding of special-purpose civCF platforms, which in turn motivated the large all-purpose platforms to introduce civCF categories. In equity-based and lending-based crowdfunding, the special-purpose CFPs developed alongside special-purpose CFPs for start-ups, energy projects, or real estate projects. However, international equity-based crowdfunding platforms like OurCrowd do not have a dedicated category to civCF campaigns. Analysing the interaction between civCF platforms and civCF categories on all-purpose CFPs merits further research since it would provide a K. Wenzlaff

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The Role of Crowdfunding in Cultural Entrepreneurship: A Business Network Perspective

Bocconcelli

Fortezza

Petrucci

et al. 2020

Management, Participation and Entrepreneurship in the Cultural and Creative Sector

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Crowdfunding through a partial organization lens – The co-dependent organization

Cited by 36 publications

References 55 publications

Corporate Social Responsibility and Crowdfunding: The Experience of the Colectual Platform in Empowering Economic and Sustainable Projects

Corporate Social Responsibility and Crowdfunding: The Experience of the Colectual Platform in Empowering Economic and Sustainable Projects

Civic Crowdfunding: Four Perspectives on the Definition of Civic Crowdfunding

The Role of Crowdfunding in Cultural Entrepreneurship: A Business Network Perspective

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