Crowdfunding for sustainability: How environmental activism moderates support for B2B and B2C campaigns

Riccardo Maiolini and Luigi Nasta

Finance Research Letters, 2024, vol. 69, issue PB

Abstract: This study explores the influence of customer investors' perceptions on their willingness to invest in sustainable crowdfunding campaigns. Specifically, it examines whether emphasizing a product's direct impact on consumers (B2C) or its broader industrial impact (B2B) affects investment decisions. Using a between-subjects experiment with 304 participants, the research investigates how environmental sustainability activism moderates investment behavior. The study found that higher levels of environmental activism decrease support for B2C campaigns compared to B2B campaigns. These results suggest that sustainability-focused backers prefer projects due to perceived greater systemic impact.

Keywords: Crowdfunding; Sustainability; Environmental activism; Investment behavior; B2B vs B2C campaigns (search for similar items in EconPapers)
JEL-codes: C90 G41 O3 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:69:y:2024:i:pb:s1544612324012364

DOI: 10.1016/j.frl.2024.106207

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