Search results

There have been many innovations in public finance in the 21st century to address increasing budget constraints and increasing demands from government. One innovation has been civic crowd-funding which began in 2009. This is predicated on the voluntary commitment of funds by individual and institutional donors and investors for specific projects. This paper explores this new approach to funding capital projects and grounds it within a discussion of the Voluntary Theory of Public Finance. There is a lack of research on civic crowd-funding and a lack of theoretical approaches to it. This paper draws these connections and develops future directions of research that includes the continuing application of this approach, the increasing engagement of citizens in the administrative process of government and increasing budget constraints.

The purpose of this paper is to analyze the emerging crowd‐funding phenomenon, that is a collective effort by consumers who network and pool their money together, usually via the internet, in order to invest in and support efforts initiated by other people or organizations. Successful service businesses that organize crowd‐funding and act as intermediaries are emerging, attesting to the viability of this means of attracting investment.

The research employs a “grounded theory” approach, performing an in‐depth qualitative analysis of three cases involving crowd‐funding initiatives: SellaBand in the music business, Trampoline in financial services, and Kapipal in non‐profit services. These cases were selected to represent a diverse set of crowd‐funding operations that vary in terms of risk/return for the investor and the type of payoff associated to the investment.

The research addresses two research questions: how and why do consumers turn into crowd‐funding participants? and how and why do service providers set up a crowd‐funding initiative? Concerning the first research question, the authors' findings reveal purposes, characteristics, roles and tasks, and investment size of crowd‐funding activity from the consumer's point of view. Regarding the second research question, the authors' analysis reveals purposes, service roles, and network effects of crowd‐funding activity investigated from the point of view of the service organization that set up the initiative.

The findings also have implications for service managers interested in launching and/or managing crowd‐funding initiatives.

The paper addresses an emerging phenomenon and contributes to service theory in terms of extending the consumer's role from co‐production and co‐creation to investment.

This paper aims to explain the architecture and design choices of the exchange. Lykke is a FinTech company based in Zurich that has launched the global marketplace for all asset classes and instruments digitized on the blockchain. The authors discuss how the exchange will evolve over time. They explore the macroeconomic benefits of the new blockchain technology. The Lykke exchange is compatible with any type of public blockchain.

The authors present the architecture of an exchange for colored coins. By colored coins, they mean issuer-backed securities on the Bitcoin blockchain. Orders are collected and matched by a semi-trusted exchange. Matched orders are settled on the Bitcoin blockchain, where each successful trade between parties appears as a set atomic-colored coins swap transactions. Unfilled and expired orders are discarded. The exchange does not take possession of the traded coins, but needs to be trusted to match trades correctly.

Lykke has launched the exchange initially for the main currencies, cryptocurrencies and Lykke coin (entitlement to the shares of Lykke company). Perspective asset classes include futures and options on digital assets, crowd-funded loans for retail and private equity financing for small and medium-sized enterprises, contracts for difference, zero coupon bonds and other fixed income and natural capital bonds.

Lykke exchange and all its tools and services are open source; the transparency of technology is ideal for research. The paper provides a high-level overview of the exchange and concludes with a research agenda.

Australians consume twice the global average of textiles and are deeply engaged in a linear take/make/waste fashion model. Furthermore the Australian fashion sector has some unique supply chain complications of geographical distances, sparse population and fragmentation in processing and manufacturing. This research aims to examine how Australian fashion small to medium enterprises (SMEs) are overcoming these challenges to run fashion businesses built around core principles of product stewardship (PS) and circularity.

SMEs make up 88% of the Australian apparel manufacturing sector. This qualitative exploratory study included in-depth interviews with three Australian fashion SMEs engaged in circular design practice, and a focus group of 10 Western Australian fashion advocates of sustainability. Analytic coding and analysis of the data developed eight distinct themes.

This study examines the barriers to circular economy (CE) that exist in the Australian fashion sector, and maps the practice of Australian SMEs with circular business models in overcoming these barriers. In CE innovation, Australian SMEs may have an advantage over larger fashion companies with more unwieldy structures. Employing design-thinking strategies, Australian SMEs with a foundation of PS and circular purpose are creating new systems of viable closed-loop business models and design processes.

The themes from this research contribute to the limited literature on circular innovation examples that link CE theory with practice in the fashion sector. The model for circularity maps the practice of three SMEs built around core principles of PS and circularity in overcoming the barriers to CE in an Australian context, and may be used as a visual tool in education and understanding.

Crowd funding is a method to raise funds for a specific cause or project by asking a large number of people to donate money, usually in small amounts, and usually during a relatively short period, such as a few months. This paper aims to explore the global as well as Indian crowd funding platforms and literature as well to find out the success stories of crowd funding.

General literature was reviewed. Various crowd funding platforms were scanned, especially Indian, to find the successful crowd funding stories.

It was found that plenty of crowd funding initiatives have been taken in India, especially to build libraries, to decorate libraries, for collection development, to provide services, etc. Nongovernmental organizations/trusts are the ones who are undertaking these initiatives. There is a need to create awareness of such activities by experienced library professionals/nonprofessionals who have done crowd funding and for them to share their experiences and practices of crowd funding among other professionals, so that others can also explore such methods.

This paper promptly presents the Indian crowd funding initiatives and the success stories.

The purpose of this paper is to analyse the structures of the relationships between actors in the creative industries sector using crowd-funding, and how co-creation is the basis for reaching balanced centricity in the creative industries.

The Many-to-Many Marketing Theory, Service-Dominant Logic and Service Logic are the theoretical bases for explaining how the changing roles of the actors in the creative industries sector have given the crowd a great capacity for deciding in the value-creation process. A qualitative, case-based approach is used, given the complexity of the phenomenon to be analysed.

The findings of the empirical approach have important theoretical and practical implications. On the theoretical side, it analyses the importance of balanced centricity instead of customer centricity as the basis for system stability. Findings also have implications for service managers, as this can be considered an alternative for certain business projects, especially in the creative industries sector, where a growing demand is identified, not only as a method of financing, but also as a strategy for strengthening the bond with customers.

The study has implications for practitioners and scholars. With respect to managers, the “balanced centricity in cultural crowd-funding” model constitutes a significant contribution, because it replaces the prominent position which until now has been enjoyed by the consumer, with the overall balance of the system, in other words, with aiming to benefit all agents. This translates into a change in how strategies are understood and applied in organisations, as in every decision organisations will have to keep in mind the implications that their decisions and actions have on the rest of the agents, with the objective of managing to exploit their “strategic potential”. Strategic planning actions are identified.

This paper is the first to analyse balanced centricity as the basis for system stability in the creative industries. The new tasks of the customer as a selector and financer of projects increase the roles assigned to the co-creation concept and improve the knowledge of Network Theory for the creative industries.

The purpose of this paper is to design a qualitative model of crowdfunding dynamics through the document model building (DMB).

Methodology in this paper is the qualitative system dynamics through DMB. In DMB, the authors identify the variables that are drivers of its growth and collapse, and the model will be developed by using the systematic review of the literature.

Designing of the dynamics of crowdfunding model through DMB. Identifying variables that are drivers of crowdfunding growth and collapse. Determining leverage points in crowdfunding diffusion.

This paper, for the first time, with the aim of identifying and explaining the efficient positive and negative dynamics in this method, examines crowdfunding systematically and structurally.

Crowdfunding (CF) has become an increasingly popular means of financing for entrepreneurs and has attracted significant attention from both researchers and practitioners in recent years. The purpose of this study is to investigate the core content and knowledge diffusion paths in the CF field. Specifically, we aim to identify the main topics and themes that have emerged in this field and to trace the evolution of CF knowledge over time.

This study employs co-word clustering and main path analysis (MPA) to examine the historical development of CF research based on 1,528 journal articles retrieved from the Web of Science Core Collection database.

The results of the analysis reveal that CF research focuses on seven themes: sustainability, entrepreneurial finance, entrepreneurship, fintech, social entrepreneurship, social capital, and microcredits. The analysis of the four main paths reveals that equity CF has been the dominant topic in the past years. Recently, CF research has tended to focus on topics such as fintech, the COVID-19 pandemic, competition, Brexit, and policy response.

To the authors' best knowledge, this is the first attempt to explore knowledge diffusion dynamics in the CF field. Overall, the study offers a structure for analyzing the paths through which knowledge is diffused, enabling scholars to effectively manage a large volume of research papers and gain a deeper understanding of the historical, current, and future trends in the development of CF.

This paper aims to examine how metadata taxonomies in embodied computing databases indicate context (e.g. a marketing context or an ethical context) and describe ways to track the evolution of the embodied computing industry over time through digital media archiving.

The authors compare the metadata taxonomies of two embodied computing databases by providing a narrative of their top-level categories. After identifying these categories, they describe how they structure the databases around specific themes.

The growing wearables market often hides complex sociotechnical tradeoffs. Marketing products like Vandrico Inc.’s Wearables Database frame wearables as business solutions without conveying information about the various concessions users make (about giving up their data, for example). Potential solutions to this problem include enhancing embodied computing literacy through the construction of databases that track media about embodied computing technologies using customized metadata categories. Databases such as FABRIC contain multimedia related to the emerging embodied computing market – including patents, interviews, promotional videos and news articles – and can be archived through user-curated collections and tagged according to specific themes (privacy, policing, labor, etc.). One of the benefits of this approach is that users can use the rich metadata fields to search for terms and create curated collections that focus on tradeoffs related to embodied computing technologies.

This paper describes the importance of metadata for framing the orientation of embodied computing databases and describes one of the first attempts to comprehensively track the evolution of embodied computing technologies, their developers and their diverse applications in various social contexts through media archiving.

This paper aims to investigate how a small business is able to continually use entrepreneurial financial sources (i.e. crowdfunding) within and after a successful transformation from an entrepreneur. It additionally investigates how a market incumbent is able to successfully join the market of entrepreneurial financial resources.

Therefore, a comparative case study using qualitative and quantitative data as well as triangulation technique is conducted within the international board game (or tabletop) market at the crowdfunding platform Kickstarter. The US company CMON, which has developed from an entrepreneur to a small business and beyond, is compared with the German incumbent Pegasus. Based on an analysis of a set of key performance indicators suggested in the literature, qualitative and quantitative variables are deductively derived to measure their impact on the financial goal achievement, thereby showing their impact on the goal achievement. During the analysis, additional variables are identified inductively.

As a result, several qualitative components are found to be crucial, including oral storytelling and computer animated videos/images, a perfect multilingual product language, prototyped components, an active community and a depth and regularity in campaign updates. In quantitative terms, important components include having more product images than longer project descriptions, more optional buys than different but fixed project rewards, a big social network (on Twitter and Facebook), and the number of updates.

Based upon the data and findings, this study invites for more research, especially in conducting a larger scale quantitative analysis using the developed framework to compare more cases within a branch, cases across branches and cases with different background stories.

But to successfully run a crowdfunding campaign, entrepreneurs and incumbents can use the provided measures as a first design- and decision-roadmap, as well as copying the new business strategy of continually practicing crowdfunding for new products.

Despite its limits, this paper offers the first in-depth qualitative and quantitative crowdfunding case study showing on the one hand a new business strategy about crowdfunding as well as providing a structured measure to compare crowdfunding project performance.