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Le crowdfunding est aujourd’hui perçu comme un mode de financement socialement bénéfique. Mais la question de cette bienveillance sociale n’est en fait que rarement posée. Par l’étude de quatre campagnes de crowdfunding très différentes, cet article offre une discussion des déterminants fondamentaux relatifs à l’instrumentalisation du crowdfunding au travers de sa gouvernance.

Crowdfunding is considered as a naturally prosocial mean of financing. This prosocial and benevolent side of crowdfunding is in fact never questioned. Through the study of four very different campaigns, this article offers a discussion of the drivers of instrumentality in crowdfunding governance. The authors aim at determining which arrangement of crowdfunding benefits to which actor in terms of governance, and by what mean.