Crowdfunding has gained more importance in the entrepreneurial landscape of alternative finance. Most academic studies focused both on multi-sided platform strategies and crowdfunding industry peculiarities. In contrast, our dissertation provides insight into the by now emerged phenomenon of crowdfunding, figuring out the coexistence of many platforms in this market, theoretically winner take-all, and combining it to the MSPs theories. Drawing on a dataset of over 870 platforms, belonging to the heterogeneous 15EU countries, we shed light on the pricing and non- pricing strategies’ impact on the platforms’ survival, where the literature still lacks. Through a descriptive and econometric analysis, this work has the purpose to underline the network effect given by the implementation of individual and combined strategies, analysing their impact on the platforms’ survival. Eventually, this work represents an added value as an extended knowledge of crowdfunding literature, trying to fill in the gaps and being a good starting point for future partitioners’ works.
Il crowdfunding ha riscosso sempre più importanza nel panorama imprenditoriale della finanza alternativa. La maggior parte degli studi accademici si è concentrata sulle strategie delle piattaforme multi-sided e sulle peculiarità del crowdfunding. Al contrario, la nostra tesi fornisce una panoramica sul fenomeno del crowdfunding, studiando la coesistenza di più piattaforme in questo mercato, teoricamente winner-take-all, e combinandolo alle teorie delle piattaforme multi-sided. Costruendo un database di oltre 870 piattaforme appartenenti ai quindici eterogenei paesi europei, evidenziamo l'impatto che le strategie, sia di pricing che non, hanno sulla sopravvivenza delle piattaforme, su cui la letteratura non si è ancora focalizzata. Attraverso un'analisi sia descrittiva che econometria, questo lavoro ha lo scopo di sottolineare il network effect dato dall'implementazione di strategie sia singole che combinate, analizzando il loro impatto sulla sopravvivenza delle piattaforme. Questo lavoro rappresenta, infine, un valore aggiunto alla letteratura del crowdfunding, cercando di colmarne le lacune e di essere un buon punto di partenza per future ricerche.
The determinants of crowdfunding platforms' survival
TEDESCO, SIMONE;TRUOIOLO, DOMENICO
2017/2018
Abstract
Crowdfunding has gained more importance in the entrepreneurial landscape of alternative finance. Most academic studies focused both on multi-sided platform strategies and crowdfunding industry peculiarities. In contrast, our dissertation provides insight into the by now emerged phenomenon of crowdfunding, figuring out the coexistence of many platforms in this market, theoretically winner take-all, and combining it to the MSPs theories. Drawing on a dataset of over 870 platforms, belonging to the heterogeneous 15EU countries, we shed light on the pricing and non- pricing strategies’ impact on the platforms’ survival, where the literature still lacks. Through a descriptive and econometric analysis, this work has the purpose to underline the network effect given by the implementation of individual and combined strategies, analysing their impact on the platforms’ survival. Eventually, this work represents an added value as an extended knowledge of crowdfunding literature, trying to fill in the gaps and being a good starting point for future partitioners’ works.File | Dimensione | Formato | |
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2018_12_Tedesco_Truoiolo.pdf
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Descrizione: Testo della tesi
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https://hdl.handle.net/10589/145022