Technology Entrepreneurs' Environmental Commitments and Crowdfunding Outcomes

Vesa Pursiainen, Meichen Qian and Dragon Yongjun Tang
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Vesa Pursiainen: University of St. Gallen; Swiss Finance Institute
Meichen Qian: University of Chicago Booth School of Business
Dragon Yongjun Tang: The University of Hong Kong - Faculty of Business and Economics

No 24-25, Swiss Finance Institute Research Paper Series from Swiss Finance Institute

Abstract: We study the role of environmental commitments by technology entrepreneurs in their reward-based crowdfunding campaigns. Technology projects with public environmental commitments are significantly less likely to receive funding, but this varies depending on local climate opinions and political views. Backers in areas less concerned about climate change and more Republican areas are significantly less likely to fund campaigns with environmental commitments. The negative relationship between campaign outcomes and environmental commitments is stronger in cases where such commitments might be assumed more costly, suggesting that at least some backers interpret there to be a trade-off between sustainability and other product features.

Keywords: Sustainability; entrepreneurship; crowdfunding; environmental attitudes (search for similar items in EconPapers)
JEL-codes: G11 M13 Q55 Q56 (search for similar items in EconPapers)
Pages: 72 pages
Date: 2024-04
New Economics Papers: this item is included in nep-ene, nep-env, nep-ppm and nep-res
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Persistent link: https://EconPapers.repec.org/RePEc:chf:rpseri:rp2425

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