Crowdfunding business models through the lens of sustainable development: A taxonomy for backers and funders

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE Finance Research Letters Pub Date : 2025-03-03 DOI:10.1016/j.frl.2025.107084

Roberto Cerchione, Giuseppe Liccardo, Renato Passaro

引用次数: 0

Abstract

Sustainable entrepreneurship has emerged as a key driver in addressing environmental and societal challenges through innovation. However, sustainable ventures often struggle to secure funding due to the perceived trade-off between financial returns and sustainability goals. This paper, through a systematic literature review, proposes a taxonomy of crowdfunding (CF) business models linking backers' motivations to the environmental, social and governance (ESG) dimensions of the projects. This taxonomy, highlighting the importance of aligning CF business model with the specific sustainable project objectives, offers entrepreneurs the opportunity to effectively support their innovative and sustainable ideas through a strategically appropriate approach.

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可持续发展视角下的众筹商业模式：支持者和资助者的分类

可持续创业已成为通过创新应对环境和社会挑战的关键驱动力。然而，由于财务回报和可持续发展目标之间的权衡，可持续企业往往难以获得资金。本文通过系统的文献回顾，提出了众筹（CF）商业模式的分类，将支持者的动机与项目的环境、社会和治理（ESG）维度联系起来。这种分类法强调了将CF商业模式与特定可持续项目目标相结合的重要性，为企业家提供了通过战略上适当的方法有效支持其创新和可持续理念的机会。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance