2015 Fiscal Year Annual Research Report
Exploring Crowdfunding Potential for Promoting Regional Small Businesses in Japan
| Project/Area Number |
15H03378
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| Research Institution | Kobe University |
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Principal Investigator |
ADHIKARY B.K. 神戸大学, 経営学研究科, 准教授 (40512976)
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| Co-Investigator(Kenkyū-buntansha) |
忽那 憲治 神戸大学, 経営学研究科, 教授 (00275273)
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| Project Period (FY) |
2015-04-01 – 2018-03-31
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| Keywords | ベンチャー企業 / クラウドファンディング / 中小企業 / 家族経営 / 信用保証 |
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| Outline of Annual Research Achievements |
In the FY 2015-16 (first year), I reviewed theories of institutional and behavioral finance (incentives, transaction cost, legitimacy, etc.), relationship mode of finance, and informal governance mechanism that help the development of crowdfunding models. This was one of my first objectives in FY 2016, and I did it successfully. My second objective was to understand crowdfunding models practiced in the USA and the UK with a special focus on the Japan’s crowdfunding model and to visit local government and commercial banks. To this tune, I reviewed extant crowdfunding literature, designed a structured questionnaire, and visited local firms (SABAR restaurant, Ehime FC), Music Securities (crowdfunding platform), and commercial banks in Bangladesh. Besides, I conducted a primary survey in Bangladesh that includes small firms, and local bank officials to understand the applicability of Japan’s crowdfunding model in developing countries. I also presented my initial findings in different academic conferences and universities both in Japan and Bangladesh. I also published a paper titled “Small Business Finance in Bangladesh: Can Crowdfunding be an alternative?”, in Review of Integrative Business and Economics, Vol No. 4(4), 2015.
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| Current Status of Research Progress |
Current Status of Research Progress
2: Research has progressed on the whole more than it was originally planned.
Reason
In the FY 2015-16 (first year), my plan was to review theories of institutional and behavioral finance, relationship mode of finance, and informal governance mechanism that help the development of crowdfunding models. Besides, my plan was to understand crowdfunding models practiced in the USA, UK, and Japan and visit firms that received crowdfunds. Besides, I planned to interview commercial banks and small firms with a view to understanding their attitude towards crowdfunding. To this tune, I reviewed extant crowdfunding literature, designed a structured questionnaire, and visited local firms (SABAR restaurant, Ehime FC), Music Securities (crowdfunding platform), commercial banks and interviewed small firms in Bangladesh. As a whole, I carried out my plan smoothly in FY 2015-16.
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| Strategy for Future Research Activity |
In FY 2016-17, I have planned to write a book on “Understanding Crowdfunding: Concepts, Models, Trends, Cases, and Lessons with a Special Reference to Japan” and to publish a paper on Japan’s crowdfunding model in an international journal. To this tune, I have already collected some primary information. However, I need to collect more primary information by visiting different crowdfunding platforms and interviewing VC firms, small and innovative firms, and commercial banks both in Japan and developing countries such as Bangladesh. However, due to visa complexities, I planned to visit China, Malaysia, Thailand, Singapore, Bangladesh and India to interview crowdfunding platforms and collect primary data as well. I have also planned to present my findings in different universities in Japan and attending international conferences.
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