涨潮，资金上涨：股权众筹中的洪水和气候缓解运动

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-01-07 DOI:10.1016/j.frl.2025.106747

Monica Billio, Vincenzo Butticè, Francesca Di Pietro, Francesca Tenca, Silvio Vismara

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引用次数: 0

摘要

气候变化是一个紧迫的全球挑战，增加了极端天气事件的频率。本文通过考察2014年至2023年意大利洪水对当地股权众筹活动的影响，为可持续性研究做出贡献。我们的研究结果表明，洪水显著增加了在受影响地区发起以气候缓解举措为重点的众筹活动的可能性。与未受影响地区的活动相比，这些活动筹集的资金数额更高。CEM匹配证实了这些发现的有效性。总体而言，本研究强调了与气候相关的局部冲击如何影响企业家和投资者的行为，揭示了股权众筹在支持可持续发展和气候适应能力方面的潜力。

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Rising tides, rising funds: Floods and climate mitigation campaigns in equity crowdfunding

Climate change presents an urgent global challenge, increasing the frequency of extreme weather events. This paper contributes to sustainability research by examining the impact of floods on local equity crowdfunding activity in Italy from 2014 to 2023. Our findings reveal that floods significantly increase the probability of launching crowdfunding campaigns focused on climate mitigation initiatives in affected areas. These campaigns raise higher amounts of capital compared to those in unaffected regions. CEM matching confirms the validity of these findings. Overall, this study highlights how localized climate-related shocks influence entrepreneurial and investor behavior, shedding light on the potential of equity crowdfunding to support sustainability and climate resilience efforts.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance