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Published in:
2021 | OriginalPaper | Chapter
On the Motivation of Funders When Financing Firms with Social Goals Through Crowdfunding Platforms
Authors : J. M. Fernández-Angulo, G. Morales-Alonso, Y. Núñez, A. Hidalgo
Published in: Organizational Engineering in Industry 4.0
Publisher: Springer International Publishing
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Abstract
The world is currently governed by the economic principles of capitalism, free trade economy, and private property. However, a new economic paradigm is shaking the foundations of the capitalist model: The Sharing Economy. An individual can now act as a funds provider through crowdfunding platforms, which he can do for extrinsic motivation (i.e. in exchange for equity or an interest rate). But intrinsic motivations can also be present through reward-based crowdfunding and crowdonation, in which the incentives for funding go beyond the extrinsic. A survey on 123 individuals who have acted as crowdfunders has been conducted. The results highlight the existence and importance of intrinsic motivators for crowdfunding with social goals.
