Green Crowdfunding: An Empirical Study of Success Factors
通过问卷调研113位发起人，发现绿色产品共同设计、绿色市场洞察和产品开发阶段对绿色众筹成功有正向影响，但环境合法性影响不显著，且开发阶段会削弱共同设计与成功的关系。
Despite the growing body of research on crowdfunding, there is still a critical need to clarify the essential elements of its connection to sustainability. This study explores how various constructs, such as green product co-design, green market insight, environmental legitimacy, and the stage of product development, bear on the success of crowdfunding endeavors intended to finance eco-friendly products. We employed a questionnaire to gather insights from 113 campaign initiators, deviating from the predominant focus on web-based data collection found in much of the existing literature. The collected data were then examined through the application of structural equation modeling techniques. The findings indicate that, with the exception of environmental legitimacy, all the examined constructs exhibited a positive effect on the campaign's success. Furthermore, it was observed that the stage of development subtly diminishes the positive relationship between green product co-design practices and the success of a crowdfunding campaign. Our study offers valuable theoretical insights in light of these findings. Additionally, the paper proffers pragmatic suggestions for more effective crowdfunding of sustainable products.