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The Emerging Crowdfunding Market in Italy: Are “the Crowd” Friends of Mine?

In: Crowdfunding in Europe

Author

Listed:
  • Marco Guerzoni

    (University of Turin)

  • Dario Peirone

    (University of Turin)

  • Ivana Pais

    (Università Cattolica del Sacro Cuore)

  • Angelo Miglietta

    (IULM University)

Abstract

Emerging literature on crowdfunding, until now, is missing detailed empirical analyses on profiles of “crowdfunders”. Our paper aims to address this shortage, analyzing geographical and socio-economic characteristics of crowdfunders, looking at how crowdfunding influences the nature of geography and social contacts in new ventures. Our analysis concentrates on Italy, a country suffering for a huge economic crisis but that, at the same time, is showing a strong dynamism in crowdfunding. We collect data on donors of about 350 projects, estimating with a micro-econometric model not only which donors’ characteristics increase the likelihood of an investment, but also the role played by social media in the crowdfunding process. Our results give some remarkable indications about crowdfunding in different countries and cultural contexts.

Suggested Citation

  • Marco Guerzoni & Dario Peirone & Ivana Pais & Angelo Miglietta, 2016. "The Emerging Crowdfunding Market in Italy: Are “the Crowd” Friends of Mine?," FGF Studies in Small Business and Entrepreneurship, in: Dennis Brüntje & Oliver Gajda (ed.), Crowdfunding in Europe, edition 1, pages 87-96, Springer.
  • Handle: RePEc:spr:fgfchp:978-3-319-18017-5_6
    DOI: 10.1007/978-3-319-18017-5_6
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    Cited by:

    1. Wu, Wenqing & Huang, Xuan & Wu, Chia-Huei & Tsai, Sang-Bing, 2022. "Pricing strategy and performance investment decisions in competitive crowdfunding markets," Journal of Business Research, Elsevier, vol. 140(C), pages 491-497.

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