Review of Managerial Science

, Volume 13, Issue 3, pp 529–543 | Cite as

Participation in crowdfunding among users of collaborative platforms: the role of innovativeness and social capital

  • Cayetano Medina-MolinaEmail author
  • Manuel Rey-Moreno
  • J. Augusto Felício
  • Inmaculada Romano Paguillo
Original Paper


This work aims to elucidate the profile of participants in crowdfunding initiatives among users of collaborative platforms, considering them as agents with a high likelihood of taking part in these initiatives due to being users of digital services. This delimitation is performed by investigating the link between two intrinsic factors (innovativeness and social capital) and participation in crowdfunding initiatives. After the analysis of a sample generated by the Sociological Research Centre (CIS) of 422 users of collaborative platforms, it is found that the two intrinsic factors analyzed are linked with participation in crowdfunding initiatives. Moreover, differentiation in participation among users of collaborative platforms corresponds to the adoption of new services (higher for crowdfunding participants) and bridging social capital (lower for crowdfunding participants). The results obtained suggest incorporation of crowdfunding projects in vertical thematic financial platforms to take advantage of the effect of social capital and innovative capacity to increase participation and maintain diversity of effective financing formulas.


Multi-sided platform Crowdfunding Intrinsic factors Innovativeness Social capital 

JEL Classification

M13 M31 O33 



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Copyright information

© Springer-Verlag GmbH Germany, part of Springer Nature 2019

Authors and Affiliations

  1. 1.Centro Universitario San IsidoroSevilleSpain
  2. 2.Facultad Turismo y FinanzasUniversidad SevillaSevilleSpain
  3. 3.School of Economics and ManagementUniversity of LisbonLisbonPortugal

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