Unlocking the secrets of crowdfunding success: a comprehensive analysis of key determinants Cover Image

Unlocking the secrets of crowdfunding success: a comprehensive analysis of key determinants
Unlocking the secrets of crowdfunding success: a comprehensive analysis of key determinants

Author(s): Matus SENCI, Vytautas Snieška
Subject(s): Business Economy / Management, Economic policy
Published by: Žilinska univerzita v Žiline, Fakulta prevádzky a ekonomiky dopravy a spojov, Katedra ekonomiky
Keywords: crowdfunding; fundraising; campaign; business;

Summary/Abstract: Research background: Nowadays, crowdfunding is becoming more and more popular. It is one of the alternative funding options that, when used effectively, may guarantee that firms obtain a competitive advantage. Purpose of the article: The goal of this work is to find the determinants that condition the success of crowdfunding campaigns and then to evaluate the influence of individual determinants. Methods: Our database contained 224,180 projects from 2009 to 2021 exclusively from the Kickstarter platform. The data was used to search for determinants, based on which graphs and tables were created. The projects in our database were divided into 4 basic groups: successfully funded projects, unsuccessfully funded projects, projects whose campaign is currently ongoing and projects whose funding has been cancelled. In order to evaluate the dependence between the selected factors and the success of the projects we have excluded from our database all projects whose campaign is currently ongoing, as well as projects that have been cancelled. For verification we used Chi-square tests and two-sample t-test of independent samples and descriptive indicators. Findings & Value added: The determinants were: the project category, the target amount and the country from which the campaign was launched. The influence of the discovered determinants was not strong, though it was statistically significant. The goal of the thesis was fulfilled, and the reader will be familiar with the influence of factors on the success of crowdfunding campaigns. This study's limitations include its focus on only one platform, Kickstarter, which also implies that the majority of the projects are based in the United States. Another drawback is that we are unsure of the precise ways in which different elements will influence the likelihood of success.

  • Issue Year: 17/2023
  • Issue No: 2
  • Page Range: 65-75
  • Page Count: 11
  • Language: English
Toggle Accessibility Mode