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Publication Detailed Description
Journal Title
Emerging Markets Finance and Trade
Year (definitive publication)
2024
Language
English
Country
United Kingdom
More Information
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Abstract
Prosocial crowdfunding has achieved a growing audience by providing a financing source for entrepreneurs in the microfinance space. Using data from Kiva, a leading prosocial crowdfunding platform, we examined whether there is a right time to launch a crowdfunding campaign. This is the first study to unravel the role of temporal patterns in securing funds in emerging markets. Our results indicate a reverse turn-of-the-month effect on the fully funded campaigns. We further identified a “positive winter prosocial effect” and a “positive first-half-of-the-week effect” on successful fundraising. As such, our study highlights relevant similarities between financial markets and crowdfunding.
Acknowledgements
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Keywords
Microfinance,Prosocial lending crowdfunding,Time effects,Calendar anomalies,Kiva
Fields of Science and Technology Classification
- Economics and Business - Social Sciences
Funding Records
| Funding Reference | Funding Entity |
|---|---|
| PTDC/EGE/OGE/31246/2017 | Fundação para a Ciência e a Tecnologia |
| UIDB/04630/2020 | Fundação para a Ciência e a Tecnologia |
| UIDB/04105/2020 | Fundação para a Ciência e a Tecnologia |
| UIDB/00315/2020 | Fundação para a Ciência e a Tecnologia |
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