TY - JOUR

T1 - Crowdfunding for environmental ventures

T2 - an empirical analysis of the influence of environmental orientation on the success of crowdfunding initiatives

AU - Hörisch, Jacob

PY - 2015/11/16

Y1 - 2015/11/16

N2 - The realisation of many environmental ventures requires funding from external parties, which is not always easy to obtain. Crowdfunding offers a new potential source of financing, which is frequently expected to favor environmentally oriented ventures. However, little is known if and how crowdfunding can be effectively used for such ventures. The article empirically examines this phenomenon by analysing how the environmental orientation of crowdfunding projects influences their likelihood of successful funding. Surprisingly, no positive connection between environmental orientation and crowdfunding success can be observed in the dataset used. Therefore, reasons for the relatively low rate of success of environmentally oriented crowdfunding projects are discussed and potential measures to assist in the more effective use of crowdfunding in the context of sustainability are suggested.

AB - The realisation of many environmental ventures requires funding from external parties, which is not always easy to obtain. Crowdfunding offers a new potential source of financing, which is frequently expected to favor environmentally oriented ventures. However, little is known if and how crowdfunding can be effectively used for such ventures. The article empirically examines this phenomenon by analysing how the environmental orientation of crowdfunding projects influences their likelihood of successful funding. Surprisingly, no positive connection between environmental orientation and crowdfunding success can be observed in the dataset used. Therefore, reasons for the relatively low rate of success of environmentally oriented crowdfunding projects are discussed and potential measures to assist in the more effective use of crowdfunding in the context of sustainability are suggested.

KW - Sustainability sciences, Management & Economics

KW - Crowdfunding

KW - environmental ventures

KW - sustainable entrepreneurship

KW - financing entrepreneurship

KW - Investment

KW - sustainability

KW - Crowfunding

KW - Environmental ventures

KW - sustainable entrepreneurship

KW - financing entrepreneurship

KW - Investment

KW - sustainability

UR - http://www.scopus.com/inward/record.url?scp=84942984640&partnerID=8YFLogxK

U2 - 10.1016/j.jclepro.2015.05.046

DO - 10.1016/j.jclepro.2015.05.046

M3 - Journal articles

VL - 107

SP - 636

EP - 645

JO - Journal of Cleaner Production

JF - Journal of Cleaner Production

SN - 0959-6526

ER -