2014/10/21 by Magdalena Cholakova, Bart Clarysse · 2 citations
Business, Management and Accounting · Economics, Econometrics and Finance · #FinTech, Crowdfunding, Digital Finance #Microfinance and Financial Inclusion #Sharing Economy and Platforms
paper · doi:10.1111/etap.12139
openalex publication_date 2014/10/21 · openalex created_date 2016/06/24 · openalex updated_date 2026/08/01
Despite crowdfunding's increasing popularity as a vehicle for financing early–stage ventures, we still know relatively little about the mechanisms that drive individuals to pledge and invest via such online platforms. We explored the extent to which financial or nonfinancial motivations determine the decision to invest for equity or to pledge. In addition, we also looked at whether having invested for equity can crowd out individuals’ motivation to keep a pledge into the same project. Our results show that nonfinancial motives play no significant role. Furthermore, we find that having invested for equity is a positive predictor of keeping a pledge.