Zmeny determinantov úspešnosti crowdfundingových projektov
Shifting Determinants of Crowdfunding Project Success

Summary/Abstract: This paper investigates the evolution of the determinants of crowdfunding success over time in the Czech and Slovak Republics. Based on data from 2,578 crowdfunding campaigns launched between 2013 and 2024, the study applies logistic regression across four distinct periods to identify shifting predictors of project outcomes. Results reveal a gradual decline in the predictive strength of campaign features such as multimedia content and frequent updates, which have become standard across platforms. In contrast, factors related to social capital, engagement, and community interaction have gained importance, showing that the crowdfunding ecosystem has matured. The COVID period showed pandemic-related shifts with reduced social capital impact and increased importance of frequent, transparent updates. The findings highlight a transition from feature-based to relationship-driven dynamics of success and provide insights for entrepreneurs, platform operators, and policymakers seeking to design more transparent and sustainable crowdfunding environments.

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