Success determinants of funding projects via crowdfunding

• Grant number: 17/09306-6
• Support Opportunities: Scholarships abroad - Research
• Start date: October 16, 2017
• End date: March 15, 2018
• Field of knowledge: Applied Social Sciences - Administration - Business Administration
• Principal Investigator: Wesley Mendes-Da-Silva
• Grantee: Wesley Mendes-Da-Silva
• Host Investigator: David Vandyke Gibson
• Host Institution: Escola de Administração de Empresas de São Paulo (EAESP). Fundação Getúlio Vargas (FGV). São Paulo , SP, Brazil
• Institution abroad: University of Texas at Austin (UT), United States

Abstract

One of the biggest challenges faced by nascent businesses is the difficulty to access capital at costs that allow the viability of the business. In addition, the difficulty of financing startups induces negative effects on society, such as: unemployment, reduced rates of business innovation, and the predominance of low productivity. In this regard, the search for alternative forms of financing, and the emergence of new technologies have led to the development of the crowdfunding industry. However, even in the developed economies, understanding the determinants of successful fundraising campaigns via crowdfunding is still an open question. In the context of the emerging economies there is an aggravation of the absence of regulation of the market composed by the operations carried out by this means. In view of this finding, this project proposes to verify associations between attributes of the projects, as well as their location of origin, and the success of the fundraising campaign via crowdfunding. This research will use data from projects funded in Sao Paulo, or in the United States, between 2013 and 2017. OLS and binary response regression models will be used (to test the determinants of the success of financing campaigns), and duration analysis models (to test the determinants of exposure time on the platform until the funding goal is met). The results of this project, in conjunction with the regulation of crowdfunding activity, may be relevant to investors, policy makers, and researchers. The high potential of social impact of this proposal is also highlighted. (AU)

Scientific publications

(5)

(References retrieved automatically from Web of Science and SciELO through information on FAPESP grants and their corresponding numbers as mentioned in the publications by the authors)

FELIPS, ISRAEL JOSE DOS SANTOS; MENDES-DA-SILVA, WESLEY; LEAL, CRISTIANA CERQUEIRA; SANTOS, DANILO BRAUN. Reward crowdfunding campaigns: Time-to-success analysis. JOURNAL OF BUSINESS RESEARCH, v. 138, p. 214-228, JAN 2022. (17/09306-6)

ROSSONI, LUCIANO; ARANHA, CEZAR EDUARDO; MENDES-DA-SILVA, WESLEY. The Complexity of Social Capital: The Influence of Board and Ownership Interlocks on Implied Cost of Capital in an Emerging Market. COMPLEXITY, 2018. (14/26003-9, 17/09306-6)

MENDES-DA-SILVA, WESLEY; FELIPE, ISRAEL; LEAL, CRISTIANA CERQUEIRA; AGUIAR, MARCELO OTONE. How the tone of mass media news affects pledge amounts in reward crowdfunding campaigns. JOURNAL OF SMALL BUSINESS MANAGEMENT, v. N/A, p. 29-pg., 2022-04-15. (17/09306-6)

ROSSONI, LUCIANO; ARANHA, CEZAR EDUARDO; MENDES-DA-SILVA, WESLEY. The Complexity of Social Capital: The Influence of Board and Ownership Interlocks on Implied Cost of Capital in an Emerging Market. COMPLEXITY, v. N/A, p. 12-pg., 2018-01-01. (14/26003-9, 17/09306-6)

ISRAEL JOSÉ DOS SANTOS FELIPE; WESLEY MENDES-DA-SILVA; ISMAEL ALI; EDUARDO DE REZENDE FRANCISCO. Good News from Mass Media Induces More Investments in the Equity Crowdfunding Market. BAR, Braz. Adm. Rev., v. 20, n. 1, 2023-02-17. (17/09306-6)