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The determinants and development of crowdfunding in the Central and Eastern Europe countries

Ekonomia i Prawo. Economics and Law

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Title Statement The determinants and development of crowdfunding in the Central and Eastern Europe countries
 
Added Entry - Uncontrolled Name Bednarz, Joanna; University of Gdańsk
Markiewicz, Magdalena; University of Gdańsk
Płoska, Agnieszka; self-employed, a company owner
Funding: this research was fully funded by the University of Gdansk, Faculty of Economics Institute of International Business statutory sources.
 
Uncontrolled Index Term crowdfunding; social funding; innovation; financing; Central and Eastern Europe
G24; L26; M13; O16; O52
 
Summary, etc. <p class="Abstract">Motivation: Crowdfunding (CF) is a method of raising money for projects and enterprises by online platforms. Since 2003 it is expanding and becoming a natural method of pre-financing for start-ups before reaching out to investors. The estimations gave the picture of fundraising worldwide at the level of 35 bln USD via CF platforms in 2015. Nevertheless, this method does not progress equally worldwide and it is essential to find what results in the difference in CF development among the countries.</p><p class="Abstract">Aim: The aim of the article is to examine the relation between: (1) the welfare of countries, (2) structure of population and (3) availability of crowdfunding. The paper examines the countries of Central and Eastern Europe (CEE) for the period 2005–2015.</p><p class="Abstract">Results: There is no direct correlation between GDP per capita of a country with it online per capita investments. The richness of a country does not influence people willingness to invest through online methods. In the countries of average level of welfare, alternative financing sources are used more widely. Moreover, there is a significant impact of the age structure of the population on crowdfunding development. Estonia has the youngest structure of population. Although there are not many inhabitants and the GDP per capita is average, the country has the most willing online crowd investors.</p>
 
Publication, Distribution, Etc. Uniwersytet Mikołaja Kopernika w Toruniu
2017-09-30 00:00:00
 
Electronic Location and Access application/pdf
http://apcz.umk.pl/czasopisma/index.php/EiP/article/view/EiP.2017.019
 
Data Source Entry Ekonomia i Prawo. Economics and Law; Vol 16, No 3 (2017)
 
Language Note en
 
Terms Governing Use and Reproduction Note Copyright (c) 2017 Ekonomia i Prawo. Economics and Law