3. Juni 2020
Karsten Wenzlaff, PhD student in the team of Prof. Dr. Sebastian Späth, and Ana Odorovic, Phd student in Law & Economics at University of Hamburg, have published the first study on self-regulation regimes of European crowdfunding associations. The paper “The joint production of confidence – self-regulation in European crowdfunding markets.“ is part of a Special Issue entitles “Advancing Crowdfunding Research - What do we know and what should we look for?“ published in the Baltic Journal of Management.
The paper “The joint production of confidence – self-regulation in European crowdfunding markets“ is published under Open Access, thanks to the support of the Chair for Digital Markets at University of Hamburg
The paper discusses the rationale for a widespread reliance on Codes of Conduct (CoC) in European crowdfunding through the lenses of economic theories of self-regulation. By analyzing the institutional design of CoCs in crowdfunding, the paper illustrates the differences in their regulatory context, inclusiveness, monitoring and enforcement. It offers the first systematic overview of substantial rules of CoCs in crowdfunding.
A comparative case study of nine CoCs in Europe is used to illustrate differences in their institutional design and discern the economic purpose of the CoC. The institutional design of different CoCs in Europe mainly supports voluntary theories of self-regulation. In particular, the theory of reputation commons has the most explanatory power. The substantial rules of CoC in different markets show the potential sources of market failure through the perspectives of platforms.
The link to this paper and all other papers of the special issue can be found below.
Editorial: Advancing Crowdfunding Research: New Insights and Future Research Agenda
Shneor, Rotem and Maehle, Natalia
Crowdfunding success: a systematic literature review 2010–2017
Shneor, Rotem and Vik, Amy Ann
Elective affinities: exploring the matching between entrepreneurs and investors in equity crowdfunding
Giudici, Giancarlo; Guerini, Massimiliano; and Rossi-Lamastra, Cristina
The role of supporter engagement in enhancing crowdfunding success
Efrat, Kalanit; Gilboa, Shaked; and Sherman, Arie
The effects of creator credibility and backer endorsement in donation crowdfunding campaigns success
Bukhari, Farasat Ali Shah; Usman, Sardar Muhammad; Usman, Muhammad; and Hussain, Khalid
Pure donation or hybrid donation crowdfunding: Which model is more conducive to prosocial campaign success?
Liang, Zhao and Sun, Zhe
Varieties of cultural crowdfunding: The relationship between cultural production types and platform choice
Rykkja, Anders; Munim, Ziaul Haque; and Bonet, Lluis
Sustainable crowdfunding: insights from the project perspective
The joint production of confidence – self-regulation in European crowdfunding markets
Odorović, Ana and Wenzlaff, Karsten