The Economics of Crowdfunding

2020 ◽  
Vol 12 (2) ◽  
pp. 257-280
Author(s):  
Jen-Wen Chang
Keyword(s):  
Funding Mechanism ◽  
Flexible Funding

An entrepreneur finances her project via crowdfunding. She chooses a funding mechanism ( fixed or flexible), a price, and a funding goal. Under fixed funding, money is refunded if the goal is not met; under flexible funding, there is no refund. Backers observe signals about project value and decide whether to contribute or postpone purchase to the retail stage. Using the linkage principle, we show that the optimal campaign uses fixed funding. Furthermore, we show that an entrepreneur who is not financially constrained can approximately extract full surplus using fixed funding. Therefore, crowdfunding is attractive to both small and large entrepreneurs. (JEL D26, D82, G32, L26)

scholarly journals Funding the Frontline: How an Oxfam Emergency Response Fund facilitated local humanitarian action

2021 ◽  
Author(s):  
Janice Ian Manlutac
Keyword(s):  
Emergency Response ◽  
Humanitarian Aid ◽  
Disaster Risk ◽  
Asia Pacific ◽  
Small Scale ◽  
Local Leadership ◽  
Humanitarian Action ◽  
Funding Mechanism ◽  
Local Actors ◽  
Flexible Funding

From 2014 to 2020 Oxfam embedded an Emergency Response Fund (ERF) in its multiyear disaster risk reduction programs in Asia-Pacific and Central America. The Oxfam ERF was designed as a flexible funding mechanism to prioritize small-scale, under-the-radar, and forgotten emergencies and help local actors respond to and mitigate the impacts of disasters in their communities. ERF grants totaling US$1.9 million were disbursed and supported 24 small-scale responses led by 15 local organizations in nine countries. The ERF, through the support of a donor who values local leadership, helped local actors shape humanitarian responses, and the simplicity of fund administration unlocked creativity and delivered speed without compromising the quality and accountability of humanitarian aid.

Britain's Channel 4: A TV Provider Caught Between Private Sector Funding and Its Cultural Mission

2014 ◽  
Vol 11 (4) ◽  
pp. 418-439 ◽  
Author(s):  
Gabriele Bock ◽  
Siegfried Zielinski
Keyword(s):  
Public Service ◽  
Risk Taking ◽  
Independent Film ◽  
Television Channel ◽  
Policy Context ◽  
Funding Mechanism ◽  
Contemporary Perspective ◽  
Hybrid Character ◽  
Commercial Station ◽  
First Time

This article, which first appeared in Media Perspektiven 1 (1987), is published here for the first time in English. It offers an enlightening contemporary perspective, from the then German Federal Republic, on the innovation in European broadcasting which Channel 4 represented. It outlines the policy context which gave rise to the UK's fourth television channel and describes its unique, hybrid character as a commercial station funded by advertising revenue with a public service remit. It assesses the strengths and weaknesses of Channel 4's commissioning structure and identifies significant examples of its innovative programming, paying particular attention to its support for independent film. That emphasis is noteworthy since it was West German television's film-funding mechanism that provided the model on which Film on Four was based. The article recognises Channel 4's commitment to catering for minority audiences, to enabling broader access to programme-making and to commissioning work that was experimental in form and content. It is generous in suggesting that such a risk-taking cultural enterprise was only possible within the UK's mature and highly developed broadcasting ecology, but it remains cautious (perhaps presciently) of its sustainability in the expanding commercial marketplace of multi-channel television.

scholarly journals Tarzan and chain: exploring the ICO jungle and evaluating design archetypes

2021 ◽  
Author(s):  
Nina M. Bachmann ◽  
Benedict Drasch ◽  
Gilbert Fridgen ◽  
Michael Miksch ◽  
Ferdinand Regner ◽  
...  
Keyword(s):  
Cluster Analysis ◽  
Market Performance ◽  
Peer To Peer ◽  
Secondary Market ◽  
Market Development ◽  
Use Case ◽  
Short Term ◽  
Funding Mechanism ◽  
Research Gap

AbstractThe phenomenon of a blockchain use case called initial coin offering (ICO) is drawing increasing attention as a novel funding mechanism. ICO is a crowdfunding type that utilizes blockchain tokens to allow for truly peer-to-peer investments. Although more than $7bn has been raised globally via ICOs as at 2018, the concept and its implications are not yet entirely understood. The research lags behind in providing in-depth analyses of ICO designs and their long-term success. We address this research gap by developing an ICO taxonomy, applying a cluster analysis to identify prevailing ICO archetypes, and providing an outlook on the token value market performance for individual archetypes. We identify five ICO design archetypes and display their secondary market development from both a short-term and a long-term perspective. We contribute to an in-depth understanding of ICOs and their implications. Further, we offer practitioners tangible design and success indications for future ICOs.

scholarly journals Minnesota—too late for a Sovereign Wealth Fund?

2021 ◽  
Author(s):  
Christopher R. McIntosh ◽  
Neil A. Wilmot ◽  
Adrienne Dinneen ◽  
Jason F. Shogren
Keyword(s):  
Renewable Resources ◽  
Iron Ore ◽  
Inflation Rate ◽  
Supply And Demand ◽  
Sovereign Wealth Funds ◽  
Funding Mechanism ◽  
Investment Return ◽  
Investment Returns ◽  
Fund Size ◽  
Forward Looking

AbstractTen states have created natural-resource-based Sovereign Wealth Funds (SWF) to allow a fraction of the wealth derived from the extraction of non-renewable resources to be available for future use. Minnesota does not have a SWF, even though companies have been mining in the state for over 100 years. Herein, we present backward and forward-looking scenarios to estimate the potential magnitude of a “what-if” extraction-based fund. A 1.5% of value tax is suggested as an SWF funding mechanism. Based on historical extraction, prices, and investment returns, a large SWF could already exist. In the forward-looking section, we begin by econometrically estimating the supply and demand of US iron ore production to better understand how an increase in mining taxes would likely effect mining output (i.e., the production effect). After accounting for an estimated 4% production loss, results suggest enough minerals could still be extracted to create a permanent fund with between $930 million (US) and $1.6 billion dollars (US) in direct contributions by 2050 (depending on price). Using reasonable assumptions of a 2% inflation rate and a 5% annual investment return, the fund size could range from $3 billion to $5 billion by 2050.

scholarly journals Cultural discourses and practices of institutionalised diversity in the UK film sector: ‘Just get something black made’

2018 ◽  
Vol 66 (6) ◽  
pp. 1111-1127 ◽  
Author(s):  
Clive James Nwonka ◽  
Sarita Malik
Keyword(s):  
Social Inclusion ◽  
Racial Diversity ◽  
Institutional Diversity ◽  
Cultural Discourses ◽  
Black British ◽  
Funding Mechanism ◽  
British Cinema ◽  
Diversity Agenda ◽  
New Cinema ◽  
The Uk

‘Diversity’ is an evolving dimension of discursive debates within publicly funded parts of the UK media. This article considers how representations of racial diversity in cinema were articulated in a particular moment in recent history. It traces the relationship between the broader New Labour neoliberal agenda of the late 1990s and the UK Film Council’s (UKFC) New Cinema Fund, the key funding mechanism for supporting black British cinema at the time. The authors suggest that the New Cinema Fund’s ‘institutional diversity’ agenda represented a symbolic effort by both the UKFC and UK public service broadcasters to redevelop black British film vis-a-vis a plethora of cultural imperatives oriented around the notion of ‘social inclusion’. The nature of this intervention, it is argued, was strongly influenced by the 1999 Macpherson Report, which identified ‘institutional racism’ within the fabric of the UK’s organisations. The article examines how such an ‘institutional diversity’ agenda emerged within the production context of a BBC Film/UKFC production, Bullet Boy (2005), thus generating a rearticulated black British cinema that was deeply imbricated in the highly politicised contexts outlined.

scholarly journals PROCESS OF MANAGEMENT DECISION-MAKING AT THE REGIONAL LEVEL ON THE BASIS OF INFORMATION ADVISING SYSTEM

2016 ◽  
Vol 2016 (5) ◽  
pp. 60-67
Author(s):  
Ирина Алешина ◽  
Irina Aleshina ◽  
Татьяна Геращенкова ◽  
Tatyana Gerashchenkova
Keyword(s):  
Human Life ◽  
The State ◽  
Transport Infrastructure ◽  
Management Decision ◽  
Capital Investments ◽  
Funding Mechanism ◽  
Russian Economy ◽  
Social And Economic Development ◽  
Management Decision Making

One of the important factors limiting social and economic development of Russia is considered to be the state and efficient functioning of transport and logistic infrastructure. The creation of a modern road and transport net-work is one of the factors providing sustainable eco-nomic growth, implementation of social programs and, eventually, improvement of the quality of human life. Interaction of financial state interests and private business through mechanisms of state-private partner-ship has to become the main objective of modern Rus-sian state policy in favor of intensification process of capital investments increase in transport infrastructure. The use of such mechanism will allow carrying out projects which the state and business cannot im-plement alone. It will help to reduce social problems, will become the driving force of Russian economy, will promote the establishment of the international financial center in the Russian Federation. The purpose of the study is to research compre-hensively the existing funding mechanism and distribu-tion of budget funds for creating transport infrastruc-ture with economic substantiation possibility of attract-ing and using non-budgetary sources.

scholarly journals GROWTH SUFFICIENCY OF THE INDUSTRIAL INVESTMENT FUND FOR LOCAL GOVERNMENT IN HENAN, CHINA

2020 ◽  
Vol 4 (1) ◽  
Author(s):  
Zhang Li ◽  
Jacquline Tham ◽  
S. M. Ferdous Azam
Keyword(s):  
Local Government ◽  
Local Governments ◽  
Survey Methods ◽  
Investment Fund ◽  
Government Investment ◽  
Investment Funds ◽  
Funding Mechanism ◽  
Overseas Investment ◽  
Industrial Investment Fund ◽  
Industrial Investment

This study aims to explore the determinants of sufficient growth of the Local Government Industrial Investment Fund in Henan, China. The industrial investment fund in China started with the development of an overseas investment fund. China has become the world’s second-biggest equity investment market. Industrial capital has thrived in recent years. In China, local government investment funds also have a broader role and importance and are becoming an important funding mechanism that local governments can function and encourage. This research methodologically constitutes a quantitative study. Another is the consequence, rather than explaining variables as a cause. Under the probability sampling design, the analysis uses the basic random sampling approach, using survey methods that include structured questionnaires. The result indicates that the local government’s industrial investment fund in Henan, China, would be an infrastructure for economic development. <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0720/a.php" alt="Hit counter" /></p>

E-Planning through the Wisconsin Land Information Program

2013 ◽  
pp. 1525-1540
Author(s):  
Patrice Day ◽  
Rina Ghose
Keyword(s):  
Land Use Planning ◽  
Records Management ◽  
Budget Deficits ◽  
State Budget ◽  
Grass Roots ◽  
Funding Mechanism ◽  
Information Program ◽  
History Of ◽  
Local Government Level

Through the lenses of Critical GIS and political economy, this paper examines the history of the Wisconsin Land Information Program (WLIP), which was created in 1989 and provides an early US example of the adoption of GIS at the local government level. Using a mixed methods approach and a case study design, the authors focus on the cooperation and conflicts among various actors and networks, at and between scales, during times of plentiful and lean resources. Catalyzed by the 1978 Larsen Report, the WLIP was unique in its inclusiveness of everyone involved in land records management. University academics brought together all the stakeholders to create a thematic and territorial network with political power and a unique funding mechanism. As land use planning and state budget deficits became prominent, the program became a target, leading to conflict and power struggles, particularly with the state Department of Administration (DOA). What began as an egalitarian, grass-roots, socially just, forward-thinking program has shape-shifted, and while the WLIP is still a viable and functioning program, its egalitarian goals have been subverted by economics.

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