Dynamics of success of non-financial crowdfunding in an emerging context: The case of Colombia
DOI:
https://doi.org/10.18046/j.estger.2021.161.4306Keywords:
non-financial crowdfunding, Fintech, donation-based crowdfunding, reward-based crowdfundingAbstract
This research aimed to analyze factors associated with the success of non-financial crowdfunding campaigns in emerging economies through the study of 372 projects published from 2012 to 2017 in five Colombian crowdfunding platforms. A generalized multiple linear regression model and a logistic regression model were used to evaluate the dependent variable financing success, both from the quantitative and qualitative points of view. The characteristics of the projects were also used as explanatory variables. The findings show that the platform, the location of the creator, the number of funders, and the number of updates are factors associated with success. Specifically, in contexts with limited development of financing technologies, the role of the platform as an intermediary between creator and funder is very important.
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