Seminar by Luis Martinez Chafer

SALA SEMINARI – I° PIANO, PALAZZO LEVI CASES, VIA DEL SANTO 33 - ORE 12.30

17.05.2018

Seminar by Luis Martinez Chafer, Assistant Professor, University Jaume I, Spain

Title: Reward-Based crowdfunding. Determinants of success

Abstract: This seminar is focused on the determinants of successful crowdfunding initiatives. The presentation will show the results obtained through the analysis of a sample of 5,251 projects from the Spanish platform Verkami. This platform is specialized in reward-based crowdfunding projects that are often related with cultural activities. Our approach to measure the success of crowdfunding projects is two-fold. On the one hand, success is measured using a dichotomous variable (success vs. failure) that stablishes if the minimum financing target has been achieved. On the other hand, we also measured the ratio between resources obtained and requested, which in the end can be translated into a continuous indicator of success. The potential determinants of these two success indicators cover a variety of spheres related to project features. We applied different methodologies, including probit GLM, OLS and quantile regressions. Results suggest that most of the potential candidates are indeed significant, although results can hardly be generalized, as the size of the effects differs for low and high ratios of success.