Skip to main content
Fachgebiete
Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko
DE
EN
Bücher
Zeitschriften
Weitere Formate
Webinare Technik
Webinare Wirtschaft
Kongresse
Veranstaltungskalender
Podcasts
Awards
Jetzt Einzelzugang starten
Zugang für Unternehmen
Erweiterte Suche
Anmelden
nach oben

Tipp

Weitere Kapitel dieses Buchs durch Wischen aufrufen

Erschienen in:
Introduction Kapitel lesen Erstes Kapitel lesen

2023 | OriginalPaper | Buchkapitel

9. Collaboration or Community? The Impact of the Institutional Forces in Promoting Social Crowdfunding

verfasst von : Antonio Minguzzi, Michele Modina, Stefano Filomeni, Marilena Bredice

Erschienen in: Contemporary Issues in Sustainable Finance

Verlag: Springer International Publishing

Einloggen

Abstract

Our paper explores whether social crowdfunding triggers the success of social projects by focusing on the role of the Italian platform Meridonare. By examining 140 projects between 2016 and 2018, our study analyzes how the platform acts in facilitating the interaction between non-profit organizations and private investors willing to participate in the financing of social projects. Our results support the relevant role a social crowdfunding platform has on the success of a campaign. The involvement of the population through actions that leverage the human-touch relationship, and the social nature of the project increases the propensity to achieve the funding objectives.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Jetzt informieren
Vorheriges Kapitel Catastrophe Bonds: A Mitigation Opportunity in Turmoil Period
Nächstes Kapitel Financial Inclusion and the Gender Gap Across Islamic and Non-Islamic Countries
Fußnoten
1
Crowdfunding could be classified into two macro-areas: donation crowdfunding and investing crowdfunding (Belleflamme et al., 2010). The first one encompasses the donation-based model, i.e., charity online fundraising campaign from companies structured as a non-profit organization; the second, instead, can be distinguished in active and passive investing crowdfunding. Passive investing crowdfunding encloses the lending-based and reward-based models, which differ from each other for the type of return provided to the investors, both of them, however, do not offer any possibilities for investors to become actively involved in the initiative. Active investing crowdfunding defines the equity-based model, that could be easily named crowd investing, and offers investors the opportunity to be actively involved in the initiative, in addition to offering rewards to them. This allows the investor base to actively contribute to covering the financial needs of small entrepreneurial ventures (Schwienbacher & Larralde, 2010).
 
Literatur
Ahlers, G. K., Cumming, D., Geunther, C., & Schweizer, D. (2015). Signaling in equity crowdfunding. Entrepreneurship Theory and Practice, 955–980.
Austin, J., Stevenson, H., & Wei-Skillern, J. (2006). Social and commercial entrepreneurship: Same different or both? Entrepreneurship Theory & Practice, 30(1), 1–22. CrossRef
Azemati, H., Belinsky, M., Gillette, R., Liebman, J., Selman, A., & Wyse, A. (2013). Social impact bonds: Lessons learned so far. Community Investment Review, 23–33.
Belleflamme, P., Lambert, A., & Schwienbacher, T., (2010). Crowdfunding: An industrial organization perspective.
Belleflamme, P., Lambert, A., & Schwienbacher, T. (2014). Crowdfunding: Tapping the right crowd. Journal of Business Venturing, 29(5), 585–609. CrossRef
Bruton, G., Khavul, S., Siegel, D., & Wright, M. (2015). New financial alternatives in seeding entrepreneurship: Microfinance, crowdfunding, and peer-to-peer innovations. Entrepreneurship Theory and Practice, 9–26.
Bugg-Levine, A., Kogut, B., & Kulatilaka, N. (2012). A new approach to funding social enterprises. Harvard Business Review, 118–123.
Calderini, M., Chiodo, V., & Michelucci, F. V. (2018). The social impact investment race: Toward an interpretative framework. European Business Review, 66–81.
Caroli, M., Fracassi, E., Maiolini, R., & Carnini, P. S. (2018). Exploring social innovation components and attributes: A taxonomy proposal. Journal of Social Entrepreneurship, 9(2), 94–109. CrossRef
Cash, D. (2018). Sustainable finance ratings as the latest symptom of ‘rating addiction.’ Journal of Sustainable Finance & Investment, 8(3), 242–258. CrossRef
Chan, C. S. R., & Parhankangas, A. (2017). Crowdfunding innovative ideas: How incremental and radical innovativeness influence funding outcomes. Entrepreneurship Theory and Practice, 237–262.
Chiappini, H. (2017). An introduction to social impact investing. In Social impact funds. Definition, assessment and performance (pp. 7–50). Palgrave Macmillan.
Cholakova, M., & Clarysse, B. (2015). Does the possibility to make equity investments in crowdfunding projects crowd out reward-based investments? Entrepreneurship Theory and Practice, 145–172.
Clarkin, J. E. (2014). Crowdfunding, foundations, and impact investors as sources of financial capital for social entrepreneurs. In P.P. Phan, S. Bacq, & M. Nordqvist (Eds.), Theory and empirical research in social entrepreneurship (pp. 191–219). Edward Elgar.
Clarkin, J. E., & Cangioni, C. (2016). Impact investing: A primer and review of the literature. Entrepreneurship Research Journal, 135–173.
Colombo, M. G., Franzoni, C., & Rossi-Lamastra, C. (2015). Internal social capital and the attraction of early contributions in crowdfunding. Entrepreneurship Theory and Practice, 75–100.
Coombes, S. M. T., Morris, M. H., Allen, J. A., & Webb, J. W. (2011). Behavioral orientations of nonprofit boards as a factor in entrepreneurial performance: Does governance matter? Journal of Management Studies.
Cornelius, N., Todres, M., Janiuha-Jivraj, S., Woods, A., & Wallace, J. (2008). Corporate social responsibility and the social enterprise. Journal of Business Ethics, 81, 355–370. CrossRef
Dart, R. (2004). The legitimacy of social enterprise. Nonprofit Management & Leadership, 14(4), 363–468. CrossRef
Desa, G., & Koch, J. L. (2014). Scaling social impact: Building sustainable social ventures at the base-of-the-pyramid. Journal of Social Entrepreneurship, 146–174.
Doherty, B., Haugh, H., & Lyon, F. (2014). Social enterprises as hybrid organizations: A review and research agenda. International Journal of Management Reviews, 417–436.
Dorado, S. (2006). Social entrepreneurial ventures: Different values so different process of creations. Journal of Developmental Entrepreneurship, 11(4), 319–343. CrossRef
Drover, W., Wood, M. S., & Zacharakis, A. (2015). Attributes of angel and crowdfunded investments as determinants of VC screening decisions. Entrepreneurship Theory and Practice.
Eisenhardt, K. M. (1989). Building theories from case study research. The Academy of Management Review, 14(4), 532–550. CrossRef
Emerson, J. (2003). The blended value proposition: Integrating social and financial returns. California Management Review, 45(4), 35–51. CrossRef
Emerson, J., & Twersky, F. (1996). New social entrepreneurs: The success, challenge, and lessons of non-profit enterprise creation. The Roberts Foundation.
Gallucci, C., Modina, M., & Minguzzi, A. (2018). The evolution of a social service crowdfunding platform toward an investing logic: The Meridonare case study. In M. La Torre & M. Calderini (Eds.), Social impact investing beyond the SIB—evidence from the market (pp. 141–175). Springer International Publishing. CrossRef
Geobey, S., Westley, F. R., & Weber, O. (2012). Enabling social innovation through developmental social finance. Journal of Social Entrepreneurship, 3(2), 151–165. CrossRef
Gleasure, R., & Feller, J. (2016). Does heart or head rule donor behaviors in charitable crowdfunding markets? International Journal of Electronic Commerce, 499–524.
Griffiths, M. D., Gundry, L. K., & Kickul, J. R. (2013). The socio-political, economic, and cultural determinants of social entrepreneurship activity: An empirical examination. Journal of Small Business and Enterprise Development, 20(2), 341–357. CrossRef
Henriques, A., & Richarson, J. (2004). The triple bottom line: Does it all add up? Earthscan.
Howe, J. (2006). The rise of crowdsourcing. Wired Magazine, 14(6), 1–4.
Jackson, E. T. (2013). Evaluating social impact bonds: Questions, challenges, innovations, and possibilities in measuring outcomes in impact investing. Community Development, 44(5), 608–616. CrossRef
Josefy, M., Dean, T. J., Albert, L. S., & Fitza, M. A. (2017). The role of community in crowdfunding success: Evidence on cultural attributes in funding campaigns to ‘save the local theater.’ Entrepreneurship Theory and Practice, 41(2), 161–182. CrossRef
Kickul, J., & Lyons, T. S. (2015). Financing social enterprises. Entrepreneurship Research Journal, 5(2), 83–85. CrossRef
Lagoarde-Segot, T. (2019). Sustainable finance. A critical realistic perspective. Research in International Business and Finance, 47(C), 1–9.
Landes Foster, W., Kim, P., & Christiansen, B. (2009). Ten nonprofit funding models. In Stanford social innovation review (pp. 31–39), Spring.
Lappi, T., Lee, T. R., & Aaltonen, K. (2017). Assessing the health of a business ecosystem: The contribution of the anchoring actor in the formation phase. International Journal of Management, Knowledge and Learning, 6(1), 27–51.
Lehener, O. M. (2013). Crowdfunding social ventures: A model and research agenda. Venture Capital, 15(4), 289–311. CrossRef
Lehener, O. M., & Nicholls, A. (2014). Social finance and crowdfunding for social enterprises: A public-private case study providing legitimacy and leverage. Venture Capital, 16(3), 271–286. CrossRef
Liu, G., Takeda, S., & Ko, W. W. (2014). Strategic orientation and social enterprise performance. Nonprofit and Voluntary Sector Quarterly, 43(3), 480–501. CrossRef
Macleod Hamingway, J. (2017). Financing social entreprise: Is the crowd the answer? Cambridge Handbook of Social Entreprise Law. Research Paper #327.
Margolis, J. D., & Walsh, J. P. (2003). Misery loves companies: Rethinking social initiatives by business. Administrative Science Quarterly, 48, 268–305. CrossRef
Mcintyre, D. P., & Srinivasan, A. (2017). Networks, platforms, and strategy: Emerging views and next steps. Strategic Management Journal, 38(1), 141–160. CrossRef
Minguzzi, A., Modina, M., & Gallucci, C. (2019). Foundations of banking origin and social rating philosophy. A new proposal for an evaluation system. Sustainability.
Mollick, E. (2014). The dynamics of crowdfunding: An exploratory study. Journal of Business Venturing, 1–16.
Moore, M., Westley, F. R., & Brodhead, T. (2012a). Social finance intermediaries and social innovation. Journal of Social Entrepreneurship, 184–205.
Moore, M., Westley, F. R., & Nicholls, A. (2012b). The social finance and social innovation nexus. Journal of Social Entrepreneurship, 3(2), 115–132. CrossRef
Nel, E. L., & McQuaid, R. W. (2002). The evolution of local economic development in South Africa: The case of stutterheim and social capital. Economic Development Quarterly, 1(16), 60–74. CrossRef
Nussens, M., Adam, S., & Johnson, T. (2006). Social enterprise: At the crossroads of market (pp. 3–26). Public Policies and Civil Society. Routledge.
Okten, C., & Weisbrod, B. A. (2000). Determinants of donations in private nonprofit markets. Journal of Public Economics, 75(2), 255–272. CrossRef
Ordanini, A., Miceli, L., Pizzetti, M., & Parasuraman, A. (2011). Crowdfunding: Transforming customers into investors through innovative service platforms. Journal of Service Management, 22(4), 443–470. CrossRef
Parhankangas, A., & Renko, M. (2017). Linguistic style and crowdfunding success among social and commercial entrepreneurs. Journal of Business Venturing, 215–236.
Peredo, A. M., & Mclean, M. (2006). Social Entrepreneurship: A critical review of the concept. Journal of World Business, 41(1), 56–65. CrossRef
Pollack, J. M., Maula, M., Alisson, T. H., Renko, M., & Gunther, C. C. (2021). Making a contribution to entrepreneurship research by studying crowd-funded entrepreneurial opportunities. Entrepreneurship Theory and Practice, 45(2), 247–262. CrossRef
Presenza, A., Abbate, T., Cesaroni, F., & Appio, F. P. (2019). Enacting social crowdfunding business ecosystems: The case of the platform Meridonare. Technological Forecasting & Social Change, 190–201.
Renko, M., Moss, T. D., & Lloyd, A. (2019). Crowdfunding by non-profit and social ventures. Handbook of Research on Crowdfunding (pp. 249–268). Elgar online.
Reid, K., & Griffith, J. (2006). Social enterprise mythology: Critiquing some of the assumptions. Social Enterprise Journal, 2, 1–10. CrossRef
Rey-Martí, A., Mohedano-Suanes, A., & Simón-Moya, V. (2019). Crowdfunding and social entrepreneurship: Spotlight on intermediaries. Sustainability, 11, 1–23. CrossRef
Rizzi, F., Pellegrini, C., & Battaglia, M. (2018). The structuring of social finance: emerging approaches for supporting environmentally and socially impactful projects. Journal of Cleaner Production, 805–817.
Roman, R. M., Hayibor, S., & Agle, B. R. (1999). The relationship between social and financial performance. Business & Society, 109–125.
Santos Barbosa, A., Alves Moraes, E., & Romani-Dias, M. (2017). The social and the economic in social business: Proposition of a conceptual model. Revista Capital Cientifico, 1–15.
Shepherd, D. A., & Wiklund, J. (2020). Simple rules, templates, and heuristics! An attempt to deconstruct the craft of writing an entrepreneurship paper. Entrepreneurship Theory and Practice, 44(3), 371–390. CrossRef
Schneider, B. (1987). The people make the place. Personnel Psychology, 437–453.
Schneider, B., Goldstein, H. W., & Smith, D. B. (1995). The ASA framework: An update. Personnel Psychology, 747–773.
Schwienbacher, A., & Larralde, B. (2010). Crowdfunding of small entrepreneurial ventures. SSRN Electronic Journal.
Sparviero, S. (2019). The case for a socially oriented business model canvas: The social enterprise model canvas. Journal of Social Entrepreneurship, 10(2), 232–251. CrossRef
Spear, R. (2006). Social entrepreneurship: A different model? International Journal of Social Economics, 33(5/6), 399–410. CrossRef
Walthoff-Borma, X., Schwienbacherb, A., & Vanackera, T. (2018), Equity crowdfunding: First resort or last resort? Journal of Business Venturing, 513–533.
Yin, R. K. (2014). Case study research: Design and methods . In Revised edition applied social research methods series (5th ed.). SAGE Publications, Inc.
Zahra, S. A., Gedajlovic, E., Neubaum, D. O., & Shulman, J. M. (2009). A typology of social entrepreneurs: Motives, search processes and ethical challenges. Journal of Business Venturing, 24, 519–532. CrossRef
Metadaten
Titel
Collaboration or Community? The Impact of the Institutional Forces in Promoting Social Crowdfunding
verfasst von
Antonio Minguzzi
Michele Modina
Stefano Filomeni
Marilena Bredice
Copyright-Jahr
2023
Buch
Contemporary Issues in Sustainable Finance

Print ISBN: 978-3-031-22538-3

Electronic ISBN: 978-3-031-22539-0

Copyright-Jahr: 2023

DOI
https://doi.org/10.1007/978-3-031-22539-0_9

Premium Partner