Empirical Evidence on Crowdfunding

Student: Konkina Irina

Educational Programme: Economics (Bachelor)

Year of Graduation: 2019

The main goal of this research is to study how factors affecting the results of crowdfunding campaigns on platforms based on rewards. Using a unique data set of 61997 crowdfunding projects launched on the Kickstarter crowdfunding platform over an 8-year period, the dependence of campaign success on project information, social interaction between platform users and local social capital were empirically investigated and estimated using logistic regressions. In addition, the study assesses the unobservable influence of the country of origin and the year the project was launched by applying a unique approach based on multi-level modeling. This research is based on the largest and most diversified data set ever used to study crowdfunding. Consequently, this paper gives the most accurate picture of the success of crowdfunding projects. The results of the study can be useful for initiators of crowdfunding projects and systematization of a common understanding of crowdfunding.

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