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Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage

Elena Borin, Giulia Fantini Orcid Logo

Journal of Risk and Financial Management, Volume: 16, Issue: 3, Start page: 172

Swansea University Author: Giulia Fantini Orcid Logo

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DOI (Published version): 10.3390/jrfm16030172

Abstract

This study seeks to address a research gap about the role of participatory governance as a success factor in successful equity crowdfunding (ECF) campaigns in the cultural heritage sector. The research stems from calls coming from both equity crowdfunding and cultural heritage research. Concerning e...

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Published in: Journal of Risk and Financial Management
ISSN: 1911-8074
Published: MDPI AG 2023
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URI: https://cronfa.swan.ac.uk/Record/cronfa67594
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first_indexed 2024-09-05T12:11:21Z
last_indexed 2024-09-05T12:11:21Z
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spelling v2 67594 2024-09-05 Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage 290e83934e79a0a29aec6575e0f82262 0000-0001-6923-0929 Giulia Fantini Giulia Fantini true false 2024-09-05 CBAE This study seeks to address a research gap about the role of participatory governance as a success factor in successful equity crowdfunding (ECF) campaigns in the cultural heritage sector. The research stems from calls coming from both equity crowdfunding and cultural heritage research. Concerning equity crowdfunding research, academics have pointed out the need for more research on specific economic sectors and topics related to governance. Concerning cultural heritage and equity crowdfunding, our investigation is in line both with the calls for differentiation of funding schemes that could increase the financial resilience of cultural heritage organizations and with the academic and policy debate on the need to promote engagement and participation, also through participatory governance. Via QCA (Qualitative Comparative Analysis), this research investigates the peculiarities and success factors of equity crowdfunding for cultural heritage, with a special focus on participatory governance. The results indicate that ECF campaigns in this field can raise more funds than the targeted ones if they propose participatory governance schemes and enhance emotional and cultural heritage-related signals, thus differentiating ECF in cultural heritage from ECF in other sectors. Journal Article Journal of Risk and Financial Management 16 3 172 MDPI AG 1911-8074 Equity crowdfunding, business financing models, participatory governance, cultural heritage governance, QCA (Qualitative Comparative Analysis) 3 3 2023 2023-03-03 10.3390/jrfm16030172 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University Another institution paid the OA fee 2024-09-06T13:22:43.1583823 2024-09-05T13:07:11.2184111 School of Management Accounting and Finance Elena Borin 1 Giulia Fantini 0000-0001-6923-0929 2 67594__31273__f032ee4be29341b585f54e83d097784f.pdf 67594.VoR.pdf 2024-09-06T13:12:17.9197242 Output 417254 application/pdf Version of Record true © 2023 by the authors. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license. true eng https:// creativecommons.org/licenses/by/ 4.0/
title Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage
spellingShingle Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage
Giulia Fantini
title_short Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage
title_full Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage
title_fullStr Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage
title_full_unstemmed Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage
title_sort Participatory Governance as a Success Factor in Equity Crowdfunding Campaigns for Cultural Heritage
author_id_str_mv 290e83934e79a0a29aec6575e0f82262
author_id_fullname_str_mv 290e83934e79a0a29aec6575e0f82262_***_Giulia Fantini
author Giulia Fantini
author2 Elena Borin
Giulia Fantini
format Journal article
container_title Journal of Risk and Financial Management
container_volume 16
container_issue 3
container_start_page 172
publishDate 2023
institution Swansea University
issn 1911-8074
doi_str_mv 10.3390/jrfm16030172
publisher MDPI AG
college_str School of Management
hierarchytype
hierarchy_top_id schoolofmanagement
hierarchy_top_title School of Management
hierarchy_parent_id schoolofmanagement
hierarchy_parent_title School of Management
department_str Accounting and Finance{{{_:::_}}}School of Management{{{_:::_}}}Accounting and Finance
document_store_str 1
active_str 0
description This study seeks to address a research gap about the role of participatory governance as a success factor in successful equity crowdfunding (ECF) campaigns in the cultural heritage sector. The research stems from calls coming from both equity crowdfunding and cultural heritage research. Concerning equity crowdfunding research, academics have pointed out the need for more research on specific economic sectors and topics related to governance. Concerning cultural heritage and equity crowdfunding, our investigation is in line both with the calls for differentiation of funding schemes that could increase the financial resilience of cultural heritage organizations and with the academic and policy debate on the need to promote engagement and participation, also through participatory governance. Via QCA (Qualitative Comparative Analysis), this research investigates the peculiarities and success factors of equity crowdfunding for cultural heritage, with a special focus on participatory governance. The results indicate that ECF campaigns in this field can raise more funds than the targeted ones if they propose participatory governance schemes and enhance emotional and cultural heritage-related signals, thus differentiating ECF in cultural heritage from ECF in other sectors.
published_date 2023-03-03T13:22:41Z
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score 11.028798

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