Impact of Crowdfunding on Sustainable Value Creation in the Context of CSR

Abstract

In today's digital landscape, crowdfunding has emerged as an alternative financing tool for small and medium-sized enterprises (SMEs) experiencing financial constraints. However, financial valuation generated post-crowdfunding has received little attention from both theoretical and practical perspectives. Thus, through a case study, this chapter examines the comparative advantages of the two crowdfunding mechanisms, crowdlending and equity crowdfunding, assessing equity value as a key evaluation criterion. The latest analysis aims to guide SMEs in identifying the form of crowdfunding that guarantees an optimal capital structure. The results demonstrate that equity crowdfunding proved more advantageous for the studied SME, as it generated a greater increase in its equity value. From a policy perspective, these results underscore the importance of promoting equity crowdfunding through appropriate regulatory frameworks, investor protection policies, and targeted support mechanisms to strengthen SMEs' access to sustainable digital finance.