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How social movements influence crowdfunding success

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  • Hsieh, Hui-Ching
  • Hsieh, Ying-Che
  • Vu, Thi Huyen Chi

Abstract

We examine the effectiveness of crowdfunding ventures related to social movements. We document that social-movement-related projects exhibit significantly greater crowdfunding success than general projects. Further tests reveal that projects with a public orientation also exhibit high crowdfunding success. During periods of pronounced social movements, we document a lower success rate for general projects but an even more pronounced impact on crowdfunding success for social movement related ventures. Our study centers on crowdfunding success and failure in Asia, demonstrating the importance of environmental elements and social context in funding new ventures.

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  • Hsieh, Hui-Ching & Hsieh, Ying-Che & Vu, Thi Huyen Chi, 2019. "How social movements influence crowdfunding success," Pacific-Basin Finance Journal, Elsevier, vol. 53(C), pages 308-320.
    • Handle: RePEc:eee:pacfin:v:53:y:2019:i:c:p:308-320
    DOI: 10.1016/j.pacfin.2018.11.008
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    Cited by:

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    2. Xiaohong Huang & Rezaul Kabir & Thuy Ngoc Nguyen, 2024. "Do project quality and founder information signals always matter? Evidence from equity and reward crowdfunding," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(3), pages 3309-3325, July.
    3. González-Cacheda, Bruno & Outeda, Celso Cancela, 2021. "Political crowdfunding and resource mobilization for collective action: The keys to success," Technology in Society, Elsevier, vol. 67(C).
    4. Chandna, Vallari, 2022. "Social entrepreneurship and digital platforms: Crowdfunding in the sharing-economy era," Business Horizons, Elsevier, vol. 65(1), pages 21-31.
    5. Chen, Xue & Ma, Le, 2023. "Lead investors' insider ownership and crowd investors' agency concerns in investor-led equity crowdfunding," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
    6. Hsieh, Hui-Ching & Vu, Thi Huyen Chi, 2021. "The impact of economic policy uncertainty on crowdfunding success," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    7. Jiang, Cuixia & Zhou, Li & Xu, Qifa & Liu, Yezheng, 2022. "Home bias in reward-based crowdfunding and its impact on financing performance: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 76(C).

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