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- Financing social ventures by crowdfunding: The influence of entrepreneurs’ personality traitsPublication . Bernardino, Susana; Freitas, J. R.Studies on the profile of the social entrepreneurs that use crowdfunding (CF) for financing social projects are relatively rare, specifically in the context of Social Stock Exchange platforms. This research aims to understand the role played by social entrepreneurs’ personality traits on the choice between the traditional donation model and social CF to finance social projects. The particular case of the Portuguese Social Stock Exchange (PSSE) is presented and a quantitative and exploratory approach is used. The data were collected through a questionnaire that was emailed to non-governmental organizations in Portugal and founders of the projects listed on PSSE. Logistic regression is employed to predict the probability that a social entrepreneur would use PSSE rather than traditional financing. The predictor variables are based on the Big Five personality traits. Our investigation reveals that the conscientiousness personality trait is the only factor that might explain the use of the PSSE platform.
- Motivations for using CF: a study among portuguese entrepreneursPublication . Bernardino, Susana; Freitas, J. R.; Silva, RitaThe research aims to identify the motivations for using crowdfunding (CF) as it becomes a significant way of funding new ventures. The study adopts a quantitative approach, based on an online survey sent to the entrepreneurs who have used the largest and oldest Portuguese CF platform (PPL) for funding. The data were analysed in relation to frequency and use of platforms, typology of projects, level of success and satisfaction with the campaigns, and the motivations for using CF. The results indicate that the main motivations that lead promoters to use CF are the lack of financial resources to launch/develop the venture, the possibility of increasing the project's visibility online and the easy access to funding with less bureaucracy. The study provides insight to platform managers to better promote the advantages of using CF among potential entrepreneurs according to its main motivations. At the same time, the findings offer knowledge that could help interested entrepreneurs avoid costly mistakes. Further, the research reveals that developing a CF campaign is not an easy task as it demands a considerable investment in time and resources to be successful. The analysis of the motivations and satisfaction of entrepreneurs regarding CF allows for recommendations into the contributory or inhibiting factors of CF. On the positive side of the balance are the online visibility of the project (through social media) and the low bureaucracy to get the money. On the negative side, the investment in time and resources needed to perform the campaign.