The Emerging Crowdfunding Market in Italy: Are “the Crowd” Friends of Mine?

Marco Guerzoni, Dario Peirone, Ivana Pais and Angelo Miglietta
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Marco Guerzoni: University of Turin
Ivana Pais: Università Cattolica del Sacro Cuore
Angelo Miglietta: IULM University

A chapter in Crowdfunding in Europe, 2016, pp 87-96 from Springer

Abstract: Abstract Emerging literature on crowdfunding, until now, is missing detailed empirical analyses on profiles of “crowdfunders”. Our paper aims to address this shortage, analyzing geographical and socio-economic characteristics of crowdfunders, looking at how crowdfunding influences the nature of geography and social contacts in new ventures. Our analysis concentrates on Italy, a country suffering for a huge economic crisis but that, at the same time, is showing a strong dynamism in crowdfunding. We collect data on donors of about 350 projects, estimating with a micro-econometric model not only which donors’ characteristics increase the likelihood of an investment, but also the role played by social media in the crowdfunding process. Our results give some remarkable indications about crowdfunding in different countries and cultural contexts.

Keywords: Crowdfunding; Social network; Non-monetary rewards (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/978-3-319-18017-5_6

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