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Geographic Distance and Reward Crowdfunding Donation

In: Individual Behaviors and Technologies for Financial Innovations

Author

Listed:
  • Wesley Mendes-Da-Silva

    (Sao Paulo School of Business Administration (FGV/EAESP)
    University of Texas at Austin)

  • Luciano Rossoni

    (UniGranRio)

  • Eduardo Francisco

    (Fundação Getulio Vargas at São Paulo (FGV/EAESP))

  • Cristiane C. Gattaz

    (IC² Institute/University of Texas at Austin)

Abstract

This chapter describes the analysis of a large crowdfunding platform to examine pledges to music production projects and assess the relation between the fundraising accumulation period, the donor-entrepreneur distance, and the donors’ propensity to back projects. Our results suggest a significantly negative association between distance and the value of capital pledged to projects, which is consistent with the notion that the entrepreneur’s network of close contacts might play a central role in funding. Furthermore, our results contradict the idea that crowdfunding reduces the inhibiting effect of donor-entrepreneur distance. In addition, the results show that a long project exposure is associated with higher values of pledges. These results suggest practical implications for the study of crowdfunding as a financing platform. This study contributes to the literature on the use of crowdfunding as an alternative funding source in a major emerging market.

Suggested Citation

  • Wesley Mendes-Da-Silva & Luciano Rossoni & Eduardo Francisco & Cristiane C. Gattaz, 2019. "Geographic Distance and Reward Crowdfunding Donation," Springer Books, in: Wesley Mendes-Da-Silva (ed.), Individual Behaviors and Technologies for Financial Innovations, chapter 0, pages 189-214, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-91911-9_9
    DOI: 10.1007/978-3-319-91911-9_9
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