学会誌

Four points about selection criteria and project design in crowdfunding were clarified by some empirical analyses using data of “CAMPFIRE” which is Japanese reward-based crowdfunding platform. First, it is important to enhance presentations in text and videos for the success of the project if a crowdfunding platform eases the selection criteria of projects. Second, it cannot be said that duration is negatively associated with the success rate in the project of “All in” model, which is in contrast to the result in the project of “All or Nothing” model. Third, the project with low average funds and “All or Nothing” model have partly different success factors. Fourth, it cannot be said that the selection of “All in” model is negatively associated with the success rate in the project with low average funds. These results will contribute to the management decisions of crowdfunding platforms. Besides, a sign of the development of crowdfunding in outside of Tokyo was confirmed.