Crowdfunding, a globally expanding phenomenon, is a collaborative process by which a group of people put their money together on dedicated web platforms, to sustain the economic efforts of privates and organizations. This dissertation aims at analyzing this bottom-up financing method in the renewable energy field, by focusing on specific “business” projects. The purpose of collecting these financial resources is to subsidize plants and machinery that use renewable energy sources, to then generate a financial return for their investors. After giving an overview on crowdfunding in general, and then specifically in relation to renewable energy, this dissertation will focus on the empirical analysis of a sample consisting of 84 projects, published by 13 specialized platforms and proposed by 52 proponents. The objective of this study is to research significant relations existing between the percentage of progress against target (ratio of capital raised and collection objective), which is considered as the key metric of a project’s success, and some variables related to projects, proponents and platforms. From a linear regression analysis on ad hoc created models, it has been found that a project’s success is influenced by a few factors. These include the loan repayment terms, the degree of financial incentive, the offered expected interest rate and the benefits to the community. The weight of this last variable proves that the financial side of the project is not the only focus in this kind of investments. Instead, it shows how the social and ecological components also play a key role.
Il crowdfunding, fenomeno in continua espansione a livello mondiale, è un processo collaborativo di un gruppo di persone che utilizza il proprio denaro in comune per sostenere gli sforzi di privati ed organizzazioni, utilizzando piattaforme web dedicate. Questa tesi si propone di analizzare tale pratica di finanziamento dal basso nell’ambito delle energie rinnovabili, concentrandosi sui progetti definiti “business”, per i quali lo scopo della raccolta di denaro è il finanziamento di impianti che sfruttino fonti rinnovabili in cambio di un ritorno economico per gli investitori. Dopo aver approfondito il tema del crowdfunding in generale e nel campo delle energie rinnovabili, la tesi si concentra sull’analisi empirica di un campione formato da 84 progetti pubblicati da 13 piattaforme specializzate e proposti da 52 committenti. Lo scopo di tale studio è la ricerca di relazioni significative tra la percentuale di avanzamento sul target (rapporto tra capitale raccolto e obiettivo di raccolta), considerata come misura del successo del progetto, e alcune variabili riferite ai progetti, ai proponenti ed alle piattaforme. Dalle regressioni lineari applicate a modelli creati ad hoc è emerso come il successo di un progetto sia influenzato da diversi elementi quali la modalità di restituzione del capitale prestato, il grado di leva finanziaria, il tasso d’interesse atteso offerto e i benefici arrecati alla comunità. La significatività di quest’ultima variabile evidenzia come, in questo tipo di investimento, non siano fondamentali soltanto le caratteristiche finanziarie del progetto ma anche la componente sociale e quella ecologica.
Analisi empirica delle determinanti di successo del crowdfunding nell'ambito delle energie rinnovabili per i progetti business oriented
PATRUCCO, ANDREA;BONZANINI, DAVIDE
2013/2014
Abstract
Crowdfunding, a globally expanding phenomenon, is a collaborative process by which a group of people put their money together on dedicated web platforms, to sustain the economic efforts of privates and organizations. This dissertation aims at analyzing this bottom-up financing method in the renewable energy field, by focusing on specific “business” projects. The purpose of collecting these financial resources is to subsidize plants and machinery that use renewable energy sources, to then generate a financial return for their investors. After giving an overview on crowdfunding in general, and then specifically in relation to renewable energy, this dissertation will focus on the empirical analysis of a sample consisting of 84 projects, published by 13 specialized platforms and proposed by 52 proponents. The objective of this study is to research significant relations existing between the percentage of progress against target (ratio of capital raised and collection objective), which is considered as the key metric of a project’s success, and some variables related to projects, proponents and platforms. From a linear regression analysis on ad hoc created models, it has been found that a project’s success is influenced by a few factors. These include the loan repayment terms, the degree of financial incentive, the offered expected interest rate and the benefits to the community. The weight of this last variable proves that the financial side of the project is not the only focus in this kind of investments. Instead, it shows how the social and ecological components also play a key role.File | Dimensione | Formato | |
---|---|---|---|
2014_10_Bonzanini_Patrucco.pdf
accessibile in internet solo dagli utenti autorizzati
Descrizione: Testo tesi Bonzanini Patrucco
Dimensione
8.81 MB
Formato
Adobe PDF
|
8.81 MB | Adobe PDF | Visualizza/Apri |
I documenti in POLITesi sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
https://hdl.handle.net/10589/96045