The purpose of this paper is to examine how the crowdfunding campaigns success and long-term corporate failure are affected by the campaigns and firms’ environmental orientation, as well as by the regional innovation level. This study reveals that environmental orientations (of both campaigns and firms) are linked with higher campaign success, while only firm environmental orientation is linked with a lower probability of long-term corporate failure. Additionally, we find that regional levels of innovation are negatively linked with the probability of campaign success.

中文翻译：

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环境导向、区域创新和公平众筹活动的结果：来自两个意大利平台的证据


本文的目的是研究众筹活动的成功和企业的长期失败如何受到活动和公司的环境导向以及区域创新水平的影响。这项研究表明，（活动和企业的）环境取向与较高的活动成功率有关，而只有坚定的环境取向与较低的企业长期失败的可能性有关。此外，我们发现区域创新水平与活动成功的可能性呈负相关。