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Crowdfunding for sustainability: How environmental activism moderates support for B2B and B2C campaigns

Author

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  • Maiolini, Riccardo
  • Nasta, Luigi

Abstract

This study explores the influence of customer investors' perceptions on their willingness to invest in sustainable crowdfunding campaigns. Specifically, it examines whether emphasizing a product's direct impact on consumers (B2C) or its broader industrial impact (B2B) affects investment decisions. Using a between-subjects experiment with 304 participants, the research investigates how environmental sustainability activism moderates investment behavior. The study found that higher levels of environmental activism decrease support for B2C campaigns compared to B2B campaigns. These results suggest that sustainability-focused backers prefer projects due to perceived greater systemic impact.

Suggested Citation

  • Maiolini, Riccardo & Nasta, Luigi, 2024. "Crowdfunding for sustainability: How environmental activism moderates support for B2B and B2C campaigns," Finance Research Letters, Elsevier, vol. 69(PB).
    • Handle: RePEc:eee:finlet:v:69:y:2024:i:pb:s1544612324012364
    DOI: 10.1016/j.frl.2024.106207
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    More about this item

    Keywords

    Crowdfunding; Sustainability; Environmental activism; Investment behavior; B2B vs B2C campaigns;
    All these keywords.

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

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