Skip to main content

Table 4 Willingness to fund a crowdfunding project

From: Determinants and preferences for a crowdfunding project

 

(1)

(2)

Perceived attractiveness of lending in crowdfunding (Ref: Advantage of a new form of investment)

  

 Higher financial return

0.063

(0.030)

0.017

(0.002)

 Interest about specific companies or start-ups

0.028

(0.007)

0.015

(0.001)

 Disappointment of traditional finance

0.097

(0.068)

− 0.117

(0.079)

Perceived development and innovation of crowdfunding (Ref: Offer better interest rate compare to the existing financing)

  

 Become an alternative source of financing for start-ups and SME in various sectors

0.259

(0.487)

− 0.063

(0.024)

 Islamic-compliant financing option

0.767

(2.006)

− 0.107

(0.031)

 An easy investment process

1.060***

(6.962)

1.019**

(5.218)

 A strong investor protection

0.647 *

(2.892)

0.680

(2.620)

Perceived risk of crowdfunding

− 0.479***

(17.125)

− 0.633***

(21.768)

Financial training

2.439***

(29.988)

2.507***

(23.349)

Managing a bank account

0.580

(1.203)

0.029

(0.002)

Demographic controls

  

 Gender

 

0.048

(0.030)

 Age

 

1.384***

(54.590)

 Ethnicity

  

  Malay

 

− 0.723*

(3.036)

  Chinese

 

0.004

(0.000)

 Education level

 

0.552**

(4.386)

 Regional residence

  

  A city

 

1.026*

(3.659)

  A town

 

0.907

(2.474)

 − 2 Log likelihood

413.493

381.018

 R-square

0.24

0.54

 Observations

297

297

  1. Wald t-statistics are given in parentheses
  2. ***, **, and * denote statistical significance at the 1%, 5%, and 10% level, respectively