Sustainability and Real Estate Crowdfunding: Success Factors

被引：9

作者：

Borrero-Dominguez, Cinta ^{[1
,2
]}

Cordon-Lagares, Encarnacion ^{[3
]}

Hernandez-Garrido, Rocio ^{[4
]}

机构：

[1] Univ Seville, Fac Ciencias Econ & Empresariales, Dept Econ Financiera, Ave Ramon y Cajal 1, Seville 41018, Spain

[2] Univ Seville, Fac Ciencias Econ & Empresariales, Direcc Operac, Ave Ramon y Cajal 1, Seville 41018, Spain

[3] Univ Huelva, Fac Ciencias Empresariales & Turismo, Dept Econ, Plaza Merced 11, Huelva 21002, Spain

[4] Univ Huelva, Fac Ciencias Empresariales & Turismo, Dept Direcc Empresas & Mkt, Plaza Merced 11, Huelva 21002, Spain

来源：

SUSTAINABILITY | 2020年 / 12卷 / 12期

关键词：

real estate crowdfunding; sustainable development; investment crowdfunding; EQUITY; MARKET; MODEL;

D O I：

10.3390/su12125136

中图分类号：

X [环境科学、安全科学];

学科分类号：

08 ; 0830 ;

摘要：

The objective of this paper is to analyze the factors influencing the success of real estate crowdfunding projects in Spain. This type of crowdfunding invests in real estate assets. We analyzed 60 projects published on the Housers platform, a kind of participative platform that uses the lending and equity crowdfunding modalities. These projects have involved around 36,623 investment decisions and have raised a total amount of almost 26 million euros. The empirical analysis is based on ordinary least squares and negative binomial regression. Our main findings reveal that success differs depending on the type of project; in fact, buy-to-sell projects are less successful than development loan projects. In addition, while total return has a positive impact on project success, in the case of risk level and project term, the impact is negative.

引用

页数：13

共 46 条

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