DETERMINANTS OF CROWDFUNDING SUCCESS IN CENTRAL AND EASTERN EUROPEAN COUNTRIES

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 Ea...

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Bibliographic Details
Published in:Management 2021-12, Vol.26 (2), p.99-113
Main Author: Saric, Marija Simic
Format: Article
Language:English
Subjects:
Business Economy / Management
Campaigns
Cellular telephones
Central and Eastern Europe
Crowdfunding
crowdfunding campaign
determinants of success
Economic crisis
Economic history
Entrepreneurial finance
Financial Markets
International finance
Literature reviews
Methodology and research technology
Present Times (2010 - today)
Success
Venture capital
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Summary: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.
ISSN:1331-0194
1846-3363
DOI:10.30924/MJCMI.26.2.6