Community activism, Social ties and ESG campaign success

Akhil Raju and Vijaya B. Marisetty

Finance Research Letters, 2025, vol. 73, issue C

Abstract: ESG campaigns on rewards-based crowdfunding platforms face challenges due to their immeasurable rewards to investors. In this study, we examine the role of community activism and social ties in campaign success. Using community activism and social ties at county-level data in the US, we show that, those ESG campaigns (compared to propensity score matched non-ESG campaigns) launched in the counties with strong social ties and counties where there is higher civic engagement, show higher success rate. Our results highlight the role of quality of community engagement and the strength of social ties in ESG campaign success.

Keywords: Crowdfunding; ESG; Sustainability orientation; Civic engagement; Social ties; Machine learning; Text analysis (search for similar items in EconPapers)
JEL-codes: L26 M13 Q01 Q56 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:73:y:2025:i:c:s1544612324016362

DOI: 10.1016/j.frl.2024.106607

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