CROWDFUNDING SYSTEMS: evaluation and government regulation in the conditions of reengineering

Table 2.3 Checking basic and modified models for adequacy Dependent variable Numerical model Coefficients of determination Calculation criterion F Adequacy of models according to the F-criterion Number of crowdfunding platforms. ܻ ௧ ௤ = െͲǡͲͷͶ͸ ൅ Ͳǡʹ͸͸͸ ݐ כ ൅ ݁ ܴ ଶ ൌ 0,9932 F = 438,17 Confirmed Ž ܻ ௧ ௤ = ͷǡͲͻ ൅ ͲǡͶͶ͹ͷ ݐ כ ൅ ݁ ܴ ଶ ൌ 0,9172 F = 33,07 Confirmed ܻ ௧ ௤ = 1,2901 – 1,1932 ݔ כ ൅ ݁ ܴ ଶ ൌ 0,837 F = 15,45 Confirmed ܻ ௧ ௤ = –0,7055 + 0,8653 ݖ כ ൅ ݁ ܴ ଶ ൌ 0,9912 F = 337,9 Confirmed Amount of funds raised through crowdfunding ($) ܻ ௧ ௩ = െͳͳǡͷ͵ ൅ ͹ǡͺ͹ ݐ כ ൅ ݁ ܴ ଶ ൌ 0,8424 F = 16,63 Confirmed Ž ܻ ௧ ௩ = ͸ǡ͵Ͷ͸ ൅ Ͳǡͺͳ͹ʹ ݐ כ ൅ ݁ ܴ ଶ ൌ 0,9962 F = 786,47 Confirmed ܻ ௧ ௩ = 25,045 – 28,391 ݔ כ ൅ ݁ ܴ ଶ ൌ 0,461 F = 2,56 Not confirmed ܻ ௧ ௩ = — 28,538 + 24,228 כ ݖ ൅ ݁ ܴ ଶ ൌ 0,7563 F = 9,31 Not confirmed Amount of funds raised through 1 crowdfunding platform ($) ܻ ௧ ௠ = െʹǡ͵͹͵ͷ ൅ ͷǡͲ͵͵ͷ ݐ כ ൅ ݁ ܴ ଶ ൌ 0,781 F = 10,69 Confirmed Ž ܻ ௧ ௠ = ͳǡʹͷ͸ ൅ Ͳǡ͵͸ͻ͹ ݐ כ ൅ ݁ ܴ ଶ ൌ 0,8195 F = 13,62 Confirmed ܻ ௧ ௠ = 20,475 – 16,966 ݔ כ ൅ ݁ ܴ ଶ ൌ 0,373 F = 1,78 Not confirmed ܻ ௧ ௠ = –12,912 + 15,293 ݖ כ ൅ ݁ ܴ ଶ ൌ 0,683 F = 6,46 Not confirmed Note: formed and calculated by the authors To evaluate crowdfunding systems, it is also appropriate to quantify crowdfunding platforms. There is a significant number of them, each year there new ones appear when the others disappear. It is important to analyze them not only by geography but also by the type of crowdfunding projects (Table 2.4). According to studies conducted by American and English scientists, all the data first were gathered by country and grouped to the following regions: Africa, Asia (except China), China, Australia, and New Zealand, Eastern Europe, Western Europe (except the UK), the UK, the Middle East, North America (except the USA), the USA and South America. All data were averaged for 2015 and 2016 based on the results of global research on crowdfunding activities. 57