Evaluating the Impact of Social Capital on Crowdfunding Performance in Investment Funds

Ghasemi, Mohammad; Hajiha, Zohreh; Shahverdiani, Shadi

doi:10.22059/ijms.2026.398677.677806

Evaluating the Impact of Social Capital on Crowdfunding Performance in Investment Funds

Articles in Press

Document Type : Research Paper

Authors

Mohammad Ghasemi ¹

Zohreh Hajiha ²

Shadi Shahverdiani ³

¹ Department of Accounting, Ki.C., Islamic Azad University, Kish, Iran

² Department of Accounting, ST.C., Islamic Azad University, Tehran, Iran

³ Department of financial Management, Shahr-e- Qods Branch, Islamic Azad University, Tehran, Iran

10.22059/ijms.2026.398677.677806

Abstract

In the context of crowdfunding, it is posited that enhanced transparency and communication by financial institutions, such as banks and mutual funds, via detailed disclosures of managerial performance, articulated corporate objectives, and responsiveness to investor inquiries, significantly improve the comprehension of potential investors. This enhanced understanding positively influences their financial participation. The effect of social capital on the function of investment fund crowdfunding is examined through this study. Social capital is divided into three main types (structural, relational and cognitive) and the relationships between each type and crowdfunding performance are assessed by applying linear regression analysis to panel data of 50 investment funds from 2018-2022 (1397-1401 in the Iranian calendar). It is found that three types of social capital-structural (defined as the number of supporters), relational (defined as the fulfillment of commitments) and cognitive (measured by shared understanding) are all significant and positive to crowdfunding performance.

Keywords

Social capital

Crowdfunding performance

Structural dimension

Relational dimension

Cognitive dimension

Subjects