Fintech Achieving Sustainable Development: The Side Perspective of Crowdfunding Platform
Crowdfunding has gradually been an emerging financing model of raising small amounts of money from a large number of people, mostly by means of optimizing certain website. The article proposes to explore the development of crowdfunding platform and the prospective of Islamic crowdfunding as the financial solution. The data has been gathered from certain website, under five standards: social network, event, user motivation, incentive versioning, and critical mass. The article reveals that along with other types of crowdfunding platforms, Islamic crowdfunding have disrupted sharia financing in Indonesia, yet the relate rule of financing have not accommodated this great development.
Keywords: crowdfunding, Islamic crowdfunding, micro financing
Abdullah, S., & Oseni, U. A. (2017). Towards a sharī’ah compliant equity-based crowdfunding for the halal industry in Malaysia. International Journal of Business and Society, 18(S1), 223–240.
Adiansah, W., Mulyana, N., & Fedryansah, M. (2016). Potensi crowdfunding di Indonesia dalam praktik pekerjaan sosial. In Prosiding Penelitian & Pengabdian Kepada Masyarakat (Vol. 3, pp. 230–236). Retrieved from https://doi.org/10.24198/jppm.v3i2.13655.
Agrawal, A. ., Catalini, C., & Goldfarb, A. (2011). The geography of crowdfunding.
Alexakis, C., & Pappas, V. (2018). Sectoral dynamics of financial contagion in Europe - The cases of the recent crises episodes. Economic Modelling, 73, 222–239. https://doi.org/10.1016/j.econmod.2018.03.018.
Alqahtani, F., & Mayes, D. G. (2018). Financial stability of Islamic banking and the global financial crisis: Evidence from the Gulf Cooperation Council. Economic Systems, 42(2), 346–360. https://doi.org/10.1016/j.ecosys.2017.09.001.
Benna, U. G., & Benna, A. U. (2018). Crowdfunding and sustainable urban development in emerging economies. https://doi.org/10.4018/978-1-5225-3952-0.
Blowfield, M. (2012). Business and development: Making sense of business as a development agent. Corporate Governance (Bingley), 12(4), 414–426. https://doi.org/10.1108/14720701211267775.
Boldea, M., & Sirghi, N. (2011). Institutions and growth: Where do innovation and the people component of a process stand? (Vol. 3, pp. 1721–1728). Presented at the Innovation and Knowledge Management: A Global Competitive Advantage - Proceedings of the 16th International Business Information Management Association Conference, IBIMA 2011.
Budisantoso, T., & Nuritomo. (2016). Bank dan Lembaga Keuangan Lain. Jakarta: Salemba Empat.
Chaney, D. (2018). A principal–agent perspective on consumer co-production: Crowdfunding and the redefinition of consumer power. https://doi.org/10.1016/j.techfore.2018.06.013.
Chepurenko, A. (2015). Entrepreneurship Theory: New challenges and future prospects. Foresight Russia, 9(2), 44–57. https://doi.org/10.17323/1995-459X.2015.2.44.57.
Chirisa, I., & Mukarwi, L. (2018). A comparative analysis of Africa and Chinese crowdfunding markets. In Crowdfunding and Sustainable Urban Development in Emerging Economies (pp. 147–163). https://doi.org/10.4018/978-1-5225-3952-0.ch008.
Danmayr, F. (2014). Archetypes of Crowdfunding Platforms. Springer Gabler. Steyr: Springer Fachmedien Wiesbaden. Retrieved from https://doi.org/10.1017/CBO9781107410.1007/978-3-658-04559-315324.004.
Departemen Koperasi. (2015). Data UMKM di Indonesia. Retrieved from http://www.depkop.go.id/berita-informasi/data-informasi/data-
Freedman, D. ., & Nutting, M. . (2014). A brief history of crowdfunding. Retrieved from https://doi.org/10.1016/j.cell.2015.03.044.
Gerber, E. ., Hui, J. ., & Kuo, P. . (2012). Crowdfunding: Why people are motivated to post and fund projects on crowdfunding platforms. Proc. of the International Workshop on …, 10. Retrieved from https://doi.org/http://dx.doi.org/10.1145/2530540.
Gray, M., & Zhang, B. (2017). Crowdfunding: Understanding diversity. In Handbook on the Geographies of Money and Finance (pp. 580–609). https://doi.org/10.4337/9781784719005.
Harris, M. D., Edmunds, P. K., & Chen, J. (2011). Concerns and expectations of African American entrepreneurship students. Journal of Entrepreneurship Education, 14, 39–48.
Hemer, J. (2011). A snapshot on crowdfunding. Retrieved from https://doi.org/10.1227/01.NEU.0000349921.14519.2A.
Irfan, M. (2016). Crowdfunding sebagai pemaknaan energi gotong royong terbarukan. Share: Social Work Jurnal, 6(1), 30–42.
Kanani, M., & Goodarzi, M. (2016). Fostering new technology-based firms in Iran: Inspiration of world models in solving domestic challenges. In The Development of Science and Technology in Iran: Policies and Learning Frameworks (pp. 29–43). https://doi.org/10.1057/978-1-137-57257-8_3.
Kim, H., & De Moor, L. (2017). The Case of Crowdfunding in Financial Inclusion: A Survey. Strategic Change, 26(2), 193–212. https://doi.org/10.1002/jsc.2120.
Lawton, K., & Marom, D. (2010). The Crowdfunding Revolution; Social Networking Meets Venture Financing. USA: Amazon Digital Service.
Messeni Petruzzelli, A., Natalicchio, A., Panniello, U., & Roma, P. (2018). Understanding the crowdfunding phenomenon and its implications for sustainability. Article in Press. https://doi.org/10.1016/j.techfore.2018.10.002.
Mohd Thas Thaker, M. A. B., & Allah Pitchay, A. (2018). Developing waqf land through crowdfunding-waqf model (CWM): the case of Malaysia. Journal of Islamic Accounting and Business Research, 9(3), 448–456. https://doi.org/10.1108/JIABR-05-2016-0062.
Mohd Thas Thaker, M. A., Mohd Thas Thaker, H., & Allah Pitchay, A. (2018). Modeling crowdfunders’ behavioral intention to adopt the crowdfunding-waqf model (CWM) in Malaysia: The theory of the technology acceptance model. International Journal of Islamic and Middle Eastern Finance and Management, 11(2), 231–249. https://doi.org/10.1108/IMEFM-06-2017-0157.
Mollick, E. (2014). The Dynamics of Crowdfunding: An Exploratory Study. Journal of Business Venturing, 29(1), 1–16.
Ng, A., Ibrahim, M., & Mirakhor, A. (2015). On building social capital for Islamic finance. International Journal of Islamic and Middle Eastern Finance and Management, 8(1), 2–19. https://doi.org/10.1108/IMEFM-04-2014-0040.
Pereira, et.al, V. (2015). Crowdfunding: an integrative analysis. Proceedings International Marketing Trends Conference.
Pitluck, A. Z. (2016). The convergence paradox of islamic finance: A sociological reinterpretation, with insights for proponents of social finance. In Routledge Handbook of Social and Sustainable Finance (pp. 364–380). https://doi.org/10.4324/9781315772578.
Sulaiman, M. A. (2018). A comparative analysis of online crowdfunding platforms in Africa and the Middle East. In Crowdfunding and Sustainable Urban Development in Emerging Economies (pp. 98–124). https://doi.org/10.4018/978-1-5225-3952-0.ch006.
Testa, S., Nielsen, K. R., Bogers, M., & Cincotti, S. (2018). The role of crowdfunding in moving towards a sustainable society. Article in Press. https://doi.org/10.1016/j.techfore.2018.12.011.
Article StatisticAbstract view : 13 times
PDF views : 4 times
How To Cite This :
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.