Maiolini, RiccardoNasta, Luigi2024-10-012024-10-012024Maiolini, Riccardo, and Luigi Nasta. “Crowdfunding for Sustainability: How Environmental Activism Moderates Support for b2b and b2c Campaigns.” Finance Research Letters. 2024.https://doi.org/10.1016/j.frl.2024.106207https://hdl.handle.net/20.500.14490/393This study explores the influence of customer investors' perceptions on their willingness to invest in sustainable crowdfunding campaigns. Specifically, it examines whether emphasizing a product's direct impact on consumers (B2C) or its broader industrial impact (B2B) affects investment decisions. Using a between-subjects experiment with 304 participants, the research investigates how environmental sustainability activism moderates investment behavior. The study found that higher levels of environmental activism decrease support for B2C campaigns compared to B2B campaigns. These results suggest that sustainability-focused backers prefer projects due to perceived greater systemic impact.enAttribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/CrowdfundingSustainabilityEnvironmental activismInvestment behaviorB2B vs B2C campaignsArticle