The Second Round Resource Acquisition of Entrepreneurial Crowdfunded Ventures: The Relevance of Campaign and Project Implementation Performance Outcomes

Tuo, Gladys; Feng, Yi; Sarpong, Solomon; Wang, Wenxin

doi:10.1515/erj-2018-0123

Cited by 3 publications

(1 citation statement)

References 55 publications

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“…Formal calculations are omitted for brevity. 34 See, e.g., Tuo et al (2019) for a related discussion. optimal crowdfunding price is often p c = a h 3 etc.…”

Section: Model Extensions and Robustnessmentioning

confidence: 99%

Crowdfunding and bank financing: substitutes or complements?

Miglo

2022

Small Bus Econ

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In this paper, we analyze a firm choice between crowdfunding and bank financing. For many entrepreneurs, it is an important issue. We analyze a model where the choice of financing is affected by moral hazard problem regarding the choice of production scale that favors bank financing, and by the uncertainty about market demand that favors crowdfunding. We argue that long crowdfunding campaigns or campaigns with large targets usually are less efficient in mitigating moral hazard problem than small/short campaigns. We also argue that high-quality firms and firms with potentially large markets will tend to select bank financing while projects with largest amount of investment should select mixed financing where the firm uses a short crowdfunding campaign and a bank loan. Most of our model empirical predictions have not been directly tested so far while they are indirectly consistent with available evidence.

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“…Formal calculations are omitted for brevity. 34 See, e.g., Tuo et al (2019) for a related discussion. optimal crowdfunding price is often p c = a h 3 etc.…”

Section: Model Extensions and Robustnessmentioning

confidence: 99%

Crowdfunding and bank financing: substitutes or complements?

Miglo

2022

Small Bus Econ

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What factor is essential in successful crowdfunding: a MULTIMOORA-EDAS approach to explore factors that influence the success of crowdfunding campaigns

Djimesah,

Zhao,

Okine

et al. 2023

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PurposeDue to the high rate of failure of most crowdfunding projects, knowing the most essential factor to obtain funding success on the crowdfunding platform is of great importance for fund seekers on the crowdfunding platform. The purpose of this study is to explore crowdfunding success factors to know the most essential success factor for stakeholders of the crowdfunding platform to make the best decision when seeking funds on the crowdfunding platform. This study identified and ranked crowdfunding success factors for stakeholders of crowdfunding platforms. Sixteen factors were identified and categorized under five broad headings. These were; project ideas, target capital, track records, geographical proximity and equity.Design/methodology/approachTo rank the identified crowdfunding success factors and subfactors, this study used the Multi-Objective Optimization Based on Ratio Analysis (MULTIMOORA) integrated with the Evaluation based on Distance from Average Solutions (EDAS).FindingsTarget capital ranked first among the five categories—while duration involved in raising funds ranked first among the sixteen subfactors. An approach for analyzing how each success factor enhances a crowdfunding campaign was developed in this study. This study provides valuable insight to fund seekers on the crowdfunding platform on how funding success can be achieved by knowing which factor to consider essential when seeking funds on the crowdfunding platform.Originality/valueThis is the first study to explore crowdfunding success factors using the MULTIMOORA-EDAS method. The use of this method will help fund seekers on the crowdfunding platform to know which crowdfunding success factor is essential, thereby aiding fund seekers to make the best decision when seeking funds on the crowdfunding platform. Also, this study is particularly helpful for business owners, platform operators and policymakers when deciding how to allocate resources, plan campaigns and implement regulations.

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Theories of Crowdfunding and Token Issues: A Review

Miglo

2022

JRFM

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Entrepreneurial, innovative and small- and medium-sized firms experience difficulties with raising funds using traditional debt and equity. Consequently, they are constantly looking for new strategies of financing. The latest inventions are crowdfunding and token issues. In contrast to traditional ways of raising funds these innovations: (1) use modern technology (online transactions, blockchain, etc.) much more actively; (2) are usually quicker in reaching potential investors/funders; (3) use more active network benefits such as, for example, a large number of interactions between investors/funders and between funders and firms. These changes are so significant that some experts list them among the top business inventions of the 21st century. This article provides a review of the growing number of theoretical papers in the areas of crowdfunding and token issues, compares their findings with empirical evidence and discusses directions for future research. The research shows that a large gap exists between the theoretical literature and empirical literature.

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The Second Round Resource Acquisition of Entrepreneurial Crowdfunded Ventures: The Relevance of Campaign and Project Implementation Performance Outcomes

Cited by 3 publications

References 55 publications

Crowdfunding and bank financing: substitutes or complements?

Crowdfunding and bank financing: substitutes or complements?

What factor is essential in successful crowdfunding: a MULTIMOORA-EDAS approach to explore factors that influence the success of crowdfunding campaigns

Theories of Crowdfunding and Token Issues: A Review

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