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Community activism, Social ties and ESG campaign success

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  • Raju, Akhil
  • Marisetty, Vijaya B.

Abstract

ESG campaigns on rewards-based crowdfunding platforms face challenges due to their immeasurable rewards to investors. In this study, we examine the role of community activism and social ties in campaign success. Using community activism and social ties at county-level data in the US, we show that, those ESG campaigns (compared to propensity score matched non-ESG campaigns) launched in the counties with strong social ties and counties where there is higher civic engagement, show higher success rate. Our results highlight the role of quality of community engagement and the strength of social ties in ESG campaign success.

Suggested Citation

  • Raju, Akhil & Marisetty, Vijaya B., 2025. "Community activism, Social ties and ESG campaign success," Finance Research Letters, Elsevier, vol. 73(C).
    • Handle: RePEc:eee:finlet:v:73:y:2025:i:c:s1544612324016362
    DOI: 10.1016/j.frl.2024.106607
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    References listed on IDEAS

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    More about this item

    Keywords

    Crowdfunding; ESG; Sustainability orientation; Civic engagement; Social ties; Machine learning; Text analysis;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • 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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