DETERMINANTS OF CROWDFUNDING SUCCESS IN CENTRAL AND EASTERN EUROPEAN COUNTRIES
DETERMINANTS OF CROWDFUNDING SUCCESS IN CENTRAL AND EASTERN EUROPEAN COUNTRIES
Author(s): Marija Šimić ŠarićSubject(s): Business Economy / Management, Economic history, Methodology and research technology, Present Times (2010 - today), Financial Markets
Published by: Ekonomski fakultet Sveučilišta u Splitu
Keywords: crowdfunding; crowdfunding campaign; determinants of success; Central and Eastern Europe;
Summary/Abstract: As an alternative way of financing, crowdfunding has been growing rapidly since the last financial crisis in 2008. The number of launched projects has increased, but the number of successful projects remains low. Little is known about what leads to success in this field, especially in Central and Eastern European (CEE) countries where the determinants of crowdfunding campaign success for projects are not identified. Therefore, the article focuses on identifying determinants of crowdfunding campaign success for projects from CEE countries. Based on the dataset from Kickstarter, consisting of 473 projects from CEE countries, I examine factors influencing the probability of project success. The analyzed sample of projects shows that the number of backers and mean contribution are positively correlated with the probability of campaign success, while a higher project goal lowers the probability of success. Project duration is not a statistically significant success factor.
Journal: Management - Journal of Contemporary Management Issues
- Issue Year: 26/2021
- Issue No: 2
- Page Range: 99-113
- Page Count: 15
- Language: English