Original scientific paper
https://doi.org/10.18045/zbefri.2022.1.6
The dynamics of crowdfunding campaigns in the Middle East: Does social capital matter?
Marwan Mohamed Abdeldayem
orcid.org/0000-0002-9103-9802
Saeed Hameed Al Dulaimi
Abstract
The purpose of this study is to analyze the dynamics of crowdfunding campaigns in
the Middle East and raise the question of “does social capital matter” in this
respect? The study uses the Zoomaal.com platform as a case study for 2019 and
2020. Required data was collected from Zoomaal.com and conducted online semistructured interviews with key people in control to further explore the crowdfunding
practice in the selected Middle Eastern countries (i.e., Turkey, Egypt, Oman, Saudi
Arabia, Bahrain, Kuwait, and UAE). The OLS robust standard error regression
and logistic regression techniques were both utilized to test the study model. The
findings reveal that social capital in the Middle East countries is very coherent and
both structural dimension (DS) as measured by entrepreneurs’ interaction with the
social media (such as Facebook and Instagram) and cognitive dimension (DC) as
measured by the number of words that are composed by entrepreneurs in the
Zoomaal.com platform has significant positive impacts on the crowdfunding
campaign success. Moreover, we confirm our results to Zoomaal.com and conclude
the main factors that influence the success or failure of a crowdfunding campaign
in the Middle East.
Keywords
Social capital; crowdfunding; crowdfunding campaign; social capital theory; Middle East
Hrčak ID:
279905
URI
Publication date:
30.6.2022.
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