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Technology Entrepreneurs' Environmental Commitments and Crowdfunding Outcomes

Author

Listed:
  • Vesa Pursiainen

    (University of St. Gallen; Swiss Finance Institute)

  • Meichen Qian

    (University of Chicago Booth School of Business)

  • Dragon Yongjun Tang

    (The University of Hong Kong - Faculty of Business and Economics)

Abstract

We study the role of environmental commitments by technology entrepreneurs in their reward-based crowdfunding campaigns. Technology projects with public environmental commitments are significantly less likely to receive funding, but this varies depending on local climate opinions and political views. Backers in areas less concerned about climate change and more Republican areas are significantly less likely to fund campaigns with environmental commitments. The negative relationship between campaign outcomes and environmental commitments is stronger in cases where such commitments might be assumed more costly, suggesting that at least some backers interpret there to be a trade-off between sustainability and other product features.

Suggested Citation

  • Vesa Pursiainen & Meichen Qian & Dragon Yongjun Tang, 2024. "Technology Entrepreneurs' Environmental Commitments and Crowdfunding Outcomes," Swiss Finance Institute Research Paper Series 24-25, Swiss Finance Institute.
    • Handle: RePEc:chf:rpseri:rp2425
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    More about this item

    Keywords

    Sustainability; entrepreneurship; crowdfunding; environmental attitudes;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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