Determinants of the intention to use Crowdfunding among project leaders in Morocco

Abstract

In a context where access to financing is a major obstacle for many project developers, and given the limitations of traditional banking systems, which are often considered inaccessible, participatory financing appears to be a relevant lever or even an alternative solution, although it is still not widely used. The aim of our study is to identify the variables that influence the intention to use this mode of financing, by building a conceptual model integrating individual, contextual and perceptual factors. To this end, a survey was carried out among 184 project owners throughout Morocco. The data were collected via google form and analyzed using SmartPLS software, enabling us to test the validity and reliability of the measurement scales, giving credibility to our results, as well as testing the relationships between the different dimensions of the model. The results of our study reveal the significant effect of platform trust, cultural context, perceived usefulness of crowdfunding and level of financial education on intention to crowdfund. However, neither entrepreneurial experience nor perceived ease of use proved to be determinants. These findings suggest that decisions to adopt this type of financing are not based solely on technical skills, but are also strongly influenced by logics of trust, shared values and representation of the tool. Our study thus proposes a number of recommendations for players in the sector, with a view to fostering wider, more targeted adoption of crowdfunding in Morocco.

Classification JEL: G23

Paper type: Empirical Research