CROWDFUNDING PROCESS AS AN INNOVATION IN PROJECT FINANCING
Journal Title: Сталий розвиток економіки - Year 2018, Vol 40, Issue 3
Abstract
Purpose. The purpose of the article is to research the theoretical aspects of the phenomenon of crowdfunding as innovations in the financing of projects, outline the range of goals and tasks that help to solve the crowdfunding for various groups of its participants, systematization of advantages and disadvantages of crowdfunding, researching the process of crowdfunding in section of stages, phases and meaning of works for the initiator of the project. Methodology of research. The research uses general scientific and special methods, in particular: analysis and synthesis, theoretical generalization, abstract and logical – in the study of the spectrum of goals and objectives of the crowdfunding, its advantages and disadvantages; structural and logical – in substantiating the stages and phases of the crowdfunding process. Findings. The possibilities of crowdfunding are characterized by a number of goals and objectives that it helps to solve for different groups of participants: project developers, investors, and the crowdfunding platform. The advantages and disadvantages of crowdfunding are systematized in comparison with traditional sources of financing, which will help more balanced use of this method of financing by project developers. The structure of the crowdfunding process is grounded in sections of stages, phases and content of works, which gives the methodical basis of its organization in practice by the authors of the projects. Originality. The spectrum of goals and objectives of crowdfunding for various groups of its participants, its advantages and disadvantages are systematized. The process of crowdfunding is presented in sections of stages, phases and meaning of works. Practical value. The obtained results of the research are aimed at solving the problem of organizing the process of crowdfunding by project developers. They can be used to manage the project financing process at different levels.
Authors and Affiliations
Lyudmyla Kuts
Keywords
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