Crowdfunding: Antecedents of Number of Backers and Success of a Project (Published)
This paper offers a discussion of the projects of a crowdfunding platform and exposes the determinants of the success and failure dynamics of crowdfunding projects. We have shown with two different models’ estimation that the probability of success comes through attracting a greater number of backers and demonstrated the antecedents of attracting sufficient number of backers. Drawing around 303,582 projects from an artistic crowdfunding platform this paper attempts to show that number of backers of a project depend on factors such as goal amount, time between project start and end date, amount pledged by backers, and the main category of the project. The project success ultimately comes through the accomplishment of being able to bring adequate number of backers. We have contributed to the crowdfunding projects’ success-failure dynamics research by offering important insights with two different models and discussing options that can still be explored in this area
Keywords: Entrepreneurship, alternative financing, backers., crowdfunding, new venture financing