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Social crowdfunding: A new model for financing regional development?
[journal article]
Abstract Crowdfunding is an increasingly attractive source to fund social projects.
However, to our best knowledge, the study of crowdfunding for social purposes has
remained largely unexplored in the literature. This research envisages a detailed
examination of the role of crowdfunding on the early-stage... view more
Crowdfunding is an increasingly attractive source to fund social projects.
However, to our best knowledge, the study of crowdfunding for social purposes has
remained largely unexplored in the literature. This research envisages a detailed
examination of the role of crowdfunding on the early-stage of the social projects at regional
level. By comparing the characteristics of the projects available in the Portuguese Social
Stock Exchange platform with others that did not use this source of financial support, we
envisage to show the critical role of crowdfunding on regional development. The use of
inferential techniques (Chi-square test, the Cramer’s V statistic, the Goodman and Kruskal
λ and the odds ratio) demonstrates that the use of the Portuguese Social Stock Exchange
platform was linked to the geographical location of the social venture as well as its
geographical scope. Also, social ventures located on rural regions are more likely to use
social crowdfunding platforms than social ventures located in urban areas. Further, the
circumstance of having the social ventures acting at a local or regional level seems to be
strongly associated with the possibility of using crowdfunding for financing social projects.... view less
Keywords
regional development; funding; enterprise
Classification
Area Development Planning, Regional Research
Free Keywords
social entrepreneurship; crowdfunding; social crowdfunding; regional development
Document language
English
Publication Year
2016
Page/Pages
p. 97-115
Journal
Journal of Urban and Regional Analysis, 8 (2016) 2
ISSN
2067-4082
Status
Published Version; peer reviewed