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100 _aGallemore, Caleb
_944943
245 _a Uneven geography of crowdfunding success: Spatial capital on Indiegogo
260 _bSage,
_c2019.
300 _aVol 51, Issue 6, 2019,(1389-1406 p.)
520 _aOptimists contend that crowdfunding, in which project backers use online campaigns to assemble numerous small donations, can democratize access to finance, but there are legitimate concerns that this funding approach remains discriminatory. Drawing on recent readings emphasizing the geographic components of Bourdieu’s field theory, we argue the relationship between crowdfunding teams’ resources and crowdfunding success is mediated by spatial capital—the ability to draw capital from other social spaces due to geographic context. We use logistic regressions predicting success rates for 134,098 campaigns launched in the USA on the Indiegogo platform between 2009 and 2015, combined with other spatial data, to model the relationship between spatial capital and other success predictors. Our models suggest spatial context mediates the relationship between resources and success. Rural areas, in particular, have lower success rates than urban areas, and affluent areas have the highest success rates. Given that only around 10% of Indiegogo campaigns are fully funded, spatial inequalities place significant limits on who can benefit from crowdfunding campaigns, suggesting crowdfunding may not democratize access to finance, as optimists hope.
650 _aBourdieu,
_944944
650 _acrowdfunding,
_944945
650 _afield theory,
_935418
650 _afinancial geography,
_944946
650 _a spatial capital
_944947
700 _a Nielsen, Kristian Roed
_944948
700 _aJespersen, Kristjan
_944949
773 0 _011325
_915507
_dSage, 2019.
_tEnvironmental and planning A: Economy and space
856 _uhttps://doi.org/10.1177/0308518X19843925
942 _2ddc
_cART