Crowdfunding in the Digital Era: the Determinants of Social Program Success in Indonesia Listiono
Syariah Economics, Faculty of Islamic Studies, Universitas Muhammadiyah Yogyakarta
In recent years, crowdfunding activity has become an interesting phenomenon. This is inseparable from crowdfunding digitalization. Traditionally, crowdfunding is an alternative for society to fund various programs, from charity, empowerment, to providing public facilities. Although relatively new in the digital era, crowdfunding platforms is one of the peoples choices that is quite popular in donation activities. It is indicating by the emergence of various types of platforms and the amount of funds collected. Kitabisa.com, one of the providers of the crwodfunding platform, and perhaps the most popular in Indonesia, has currently funded more than 20,000 programs and more than 500 billion Rupiah successfully collected. However, research related to the crowdfunding industry in Indonesia has not been widely studied. This paper aim to investigate the determinant of program crowdfunding success in Indonesia. We use data from crowdfunding platform such as Kitabisa.com and Ayopeduli.id, then estimated by Probit model. The model in this study is based on a model that has been built in several previous studies in developed countries. This research is expected to contribute to the study of the phenomenon of crowdfunding platforms in Indonesia.
Keywords: crowdfunding, philanthropy, social movement, probit
Topic: International Conference on Islamic Studies in the Digital Era