Abstract
Sustainable crowdfunding has emerged as a significant factor in the quest for alternative funding streams in recent times. The process has entailed the removal of financial obstacles and intermediaries, facilitating proximity between entrepreneurs’ initiatives and fund providers, thereby initiating modifications in conventional investment and profitability criteria. The correlation between corporate social responsibility (CSR) and sustainable business returns is a significant metric that may enhance funding costs. CSR initiatives and crowdfunding possess the potential for mutually beneficial outcomes in terms of fundraising. However, fundraisers encounter obstacles and competition in their efforts to attain their donation objectives. As an illustration, CSR endeavors may provide a chance to raise capital via crowdfunding. Conversely, crowdfunding has the potential to serve as a means of micro-funding various social initiatives that align with a corporation’s corporate social responsibility objectives. The present research investigates the correlation between efficacious donation fundraising campaigns in the context of crowdfunding endeavors that hold the possibility of transforming into corporate social responsibility initiatives. The present study investigates the correlation between the initial amount of funds raised on the first day of a fundraising campaign and the target amount of funds sought by the fundraiser, as well as the type of activities involved. The present study utilizes data derived from crowdfunding endeavors in Southeast Asian nations to scrutinize the funds amassed through donations by juxtaposing trends, cultures, and characteristics of fundraisers employing donation-based crowdfunding. The present investigation employs data collected between the period spanning from the beginning of September 2021 to the end of September 2021 in the economies of Southeast Asia, including Singapore, Indonesia, Malaysia, Thailand, and the Philippines. The present investigation utilizes the partial least squares structural equation modeling (PLS-SEM) approach for the estimation of the variables. The findings of the hypothesis indicate that there exists a positive correlation between crowdfunding, environmental nonprofit organizations, organizational profitability, and CSR.
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Funding
This study was supported by the Philosophy and Social Science Fund of China “Research on the Dynamic Mech anism and Path of High-Quality Development of New Urbanization under the New Pattern of Double Circulation” (22BSH019); Youth innovative talent project Harbin university of commerce “Research on the fiscal and taxation policy system and mechanism to promote the integrated development of ice and snow tourism and cultural industry in Heilongjiang Province” (2020CX21).
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Zheqing Tang: conceptualization, data curation, methodology, writing — original draft, data curation, Xiaofeng Zhang: visualization, supervision, editing, writing — review and editing, and software.
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Tang, Z., Zhang, X. Public welfare crowdfunding decision-making of environmental nonprofit organizations based on social responsibility. Environ Sci Pollut Res 30, 99992–100005 (2023). https://doi.org/10.1007/s11356-023-29114-3
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DOI: https://doi.org/10.1007/s11356-023-29114-3