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Published in: Journal of Business Ethics 2/2022

20-04-2021 | Original Paper

The Effect of Local Religiosity on Financing Cross-Regional Entrepreneurial Projects Via Crowdfunding (Local Religiosity and Crowdfinancing)

Authors: Francesca Di Pietro, Francesca Masciarelli

Published in: Journal of Business Ethics | Issue 2/2022

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Abstract

This paper aims to develop a better understanding of the influence of the social environment in which entrepreneurs reside on the success of the crowdfunding projects they propose. Specifically, this study investigates on the importance of local religiosity on the propensity to support cross-regional crowdfunding projects. We theoretically discuss and empirically document, using a dataset of 5841 contributions on three Swiss reward-based and donation-based platforms, that local religiosity affects cross-regional resource flows by creating social interactions and enhancing trust. Furthermore, we find that cross-regional resource flows are more likely between regions sharing the same primary religion—whether Protestant or Catholic.
Footnotes
1
See Vitell (2009) for a review of the empirical literature.
 
4
The three NUTS levels in Switzerland: NUTS1: Switzerland; NUTS2: 7 Regions; NUTS3: 26 Cantons.
 
7
It has been recognized that the multinomial logit model should be used only when interdependence, or statistical correlation, between the utility functions of competing alternatives is not expected (Hausman and Wise, 1978; Williams, 1977). The nested logit model has been developed to accommodate varying degrees of similarity, or correlation, between alternatives (Williams, 1977).
 
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Metadata
Title
The Effect of Local Religiosity on Financing Cross-Regional Entrepreneurial Projects Via Crowdfunding (Local Religiosity and Crowdfinancing)
Authors
Francesca Di Pietro
Francesca Masciarelli
Publication date
20-04-2021
Publisher
Springer Netherlands
Published in
Journal of Business Ethics / Issue 2/2022
Print ISSN: 0167-4544
Electronic ISSN: 1573-0697
DOI
https://doi.org/10.1007/s10551-021-04805-4

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