Model Types of Crowdfunding: a Comparative Analysis of the Russian and European Experience

The article is devoted to the analysis of modern European model types of crowdfunding and the Russian practice of crowdfunding. The methodological component of the work was made up of general scientific and special methods, which include statistical and comparative analysis. The purpose of this study is to compare the modern European crowdfunding market with the Russian alternative finance market. At the first stage, the process of transformation of model types of crowdfunding in the European region and the UK from 2015 to the present has been studied. At the second stage, the situation on the Russian crowdfunding market is considered. As a result of the comparison of the European and Russian alternative finance markets, the latter has revealed a huge lag in terms of the variety of model types of crowdfunding offered, available and used on the market, as well as the volume of resources attracted through crowdfunding platforms.

Crowdfunding, gender and the promise of financial democracy: a systematic review

PurposeThe purpose of this study is to review the literature at the intersection of crowdfunding and gender, while examining the extent to which crowdfunding has enhanced female financial inclusion and participation.Design/methodology/approachA systematic literature review was conducted across 47 studies from 2011 to April 2021.FindingsMost studies suggest that the likelihood of success or failure of female-led campaigns depends on external factors associated with opportunities. The study points to a general trend where although female participation has not achieved its full potential, it is greater than in other channels, while enjoying higher chances of success for female fundraisers. The study highlights gaps in the literature and the associated opportunities for future research emerging from them.Originality/valueThis study is the first attempt to summarise and sensitise the literature on crowdfunding and gender. The study highlights the importance of analysing the impact of context on the conceptualisation of gender in alternative finance.

Tokenomics: A new opportunity in the Real Estate business? A qualitative approach to crowdfunding and blockchain interaction

The article discuss how platforms administrators operating within the ecosystem of real estate crowdfunding could implement technology innovations such as blockchains or the use of digital tokens, and list the benefits that could be obtained by real estate sector. We introduce an exploratory analysis of multiple case-studies, consisting of twelve businesses that manage real estate crowdfunding platforms. The information gathered through interviews gives an idea of how the shared opinion of professionals in the trade is identified with factors and variables that impact on the opening of this alternative finance segment towards technology innovations that may bring radical changes to the real estate industry. In terms of implications, this is one of the first studies exploring the adoption of innovative technologies by real estate crowdfunding platforms and, as far as we know, it is the first to analyse the impact of tokenization.

Islamic Banking opportunities Across small and Medium Enterprises in Africa

After a first part dedicated to the presentation of the Islamic financial landscape, through its history, the different products offered and its mode of operation, the present work addresses the financing issues of small and medium enterprises in Africa. Our study focuses more specifically on identifying the financing of small and medium-sized companies in Africa, what contribution can alternative finance play in terms of diversification of funding sources. The motive of this research is that the reader will find the elements likely to nurture and enrich a very relevant debate in these times of turbulence where the system that made the heyday of the financial world lacks solutions.

Crowdfunding Prospects in Nepal

Graduation of Nepal from Least Developed Country (LDC) by achieving remaining criteria of Gross National Income (GNI) per capita threshold of US $1230 from the status of US $1,196 is urging for huge investments in Nepal. The study helps to analyze the potentiality of crowd funding in Nepal with the due consideration of its financial development, technological advancement and regulatory requirements & legislations. Government of Nepal and Nepal Rastra Bank are contributing towards Digital Nepal under the Digital Nepal Framework-2019. The conglomeration of Financial Technology (FIN-Tech), and Information and Communication Technology (ICT) in Nepalese financial system is facilitating the implementation of crowdfunding. Similarly, the study reveals that crowdfunding has potentiality of becoming the pillar of alternative finance source in Nepal. However, lack of regulatory guidances is the major barrier for the establishment, operation and growth of crowdfunding, which requires a rigorous study on it scope, viability and regulation.

Technology Acceptance In Crowdfunding Among Retailers

Crowdfunding is currently Malaysia's fastest growing source of alternative finance for companies. It is an enticing opportunity for entrepreneurs with innovative ideas who would not otherwise have found capital to leverage the power of the audience to bring goods and projects from the ground. Crowdfunding has traditionally been the go-to funding solution for individuals, startups and entrepreneurs. But more recently, retailers and larger companies have been using crowdfunding as an investment route, market research tool or promotional technique. The obvious attraction of crowdfunding for retailers is that it sidesteps the need to convince a bank or investor you can make their investment worthwhile. But the rewards of the crowdfunding model are not just financial. A crowdfunding campaign can raise awareness of a brand or product, deliver valuable information about demand for a product or service, and create an already established customer base once a campaign is complete. Hence, this research focused on determining the factors that could influence the prospective retailers' intention to collect fund from crowdfunding platform. The research selected the UTAUT model to determine the prospective retailer's intention toward collecting fund to the crowdfunding project. There were four independent variables, namely performance expectancy, effort expectancy, social influence, and reliability. The intention of the prospective retailer was selected as the dependent variable. With respect to the literature review, four hypotheses were developed in this study. To test the developed hypothesis in this study, descriptive research was adopted by applying a self-administered questionnaire distributed to respondents. For this study, convenience sampling was selected, whereby 379 respondents responded and answered the questions. All the independent variables have shown that they were positively significant to the intention of the prospective retailer. Hence, the intention of prospective retailer is influenced by performance expectancy, effort expectancy, social influence, and reliability. This research successfully contributed to the knowledge in this field by applying the UTAUT factor in the context of crowdfunding for expanding retail business. Regarding practitioners in this field, this research could act as a guideline or reference to enhance the retailer's intention to collect fund in a crowdfunding project. Lastly, for policymakers, it is hoped that this research could be used as a standard and reference for future crowdfunding initiatives by the government.

Financing Protected Areas: The Social and Environmental Impact Bond's Role in Terrestrial Protected Area Sustainability

Insufficient funding for terrestrial protected areas is a global challenge, and the ability of a protected area management agency to secure sustainable financing is an obstacle in the effective management of these important areas. While the role of public sector agencies in establishing, financing, and managing protected areas, and in providing a supportive legislative and policy environment will remain essential into the future; the International Union for the Conservation of Nature (IUCN) recommends that alternative finance mechanisms be adopted to help achieve financial sustainability. With this recommendation in mind, one approach is to look to other policy areas which traditionally rely on governments as their primary funding source, to understand the alternative finance mechanisms they have adopted and appraise the suitability of these mechanisms for terrestrial protected areas. One alternative finance mechanism is the social and environmental impact bond which is a subset of impact investment and an example of a pay for success or results-based contract. This paper reviews literature on the social and environmental impact bond with a view to assessing its potential applicability to assist in the effective management of terrestrial protected areas that fall within the management categories defined by the IUCN. Three examples of existing and proposed impact bonds with an environment focus are explored, including the world’s first environmental impact bond in Washington D.C., the publicly offered Atlanta environmental impact bond and the proposed wildlife conservation bond in South Africa. The selected impact bonds will help to illustrate the establishment, operation, and evaluation of impact bonds in a real-world context. It will be argued that the social and environmental impact bond can be a useful finance model for a range of uses in a variety of social sectors and conservation settings, including terrestrial protected areas. The paper further considers how the impact bond might result in both improved social and/or environmental outcomes as well as the perceived challenges associated with this alternative finance mechanism. While the focus of this paper is on terrestrial protected areas, the lessons discussed may also be applicable to marine protected areas.