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The inability to secure funding is a common problem for entrepreneurs. Crowdlending can help overcome this problem. But what motivates crowdlenders? The aim of this paper is to provide empirical evidence of two forms of investor motivation (intrinsic and extrinsic) in crowdlending in Spain by exploring the elements that affect the low percentage of equity invested.

The study is based on fuzzy-set qualitative comparative analysis (fsQCA) of 206 investors in projects posted on the crowdlending platform Colectual. FsQCA enables the identification of causal configurations that lead to a low percentage of equity invested in crowdlending. The extrinsic motivation conditions are economic return and perceived risk. For intrinsic motivation, the conditions are the corporate social responsibility (CSR) characteristics of the project and CSR reporting by the platform. The age of the investor is also considered to study whether behaviour differs across age groups.

When investors attach high importance to economic returns (extrinsic motivation), the percentage of wealth allocated to their investment is low. In relation to intrinsic motivation, investors who attach little importance to CSR invest a low percentage of their wealth. The same is true of those who feel that Colectual's risk management is weak and those aged approximately 26 years old.

Understanding the motivations of investors can give platforms insight into the expectations of one of its main stakeholders: the backers themselves. The study also sheds light on business models where CSR is the core element. This paper thus describes a new paradigm to which other platforms can relate. It can prove useful as an incentive to integrate stakeholder concerns in other business models to create not only economic but also social value.

Investors' motivation is shown to be both intrinsic and extrinsic. Until now, there has been little evidence of the motivation of crowdlending investors. Methodologically, this study is also valuable. The use of fsQCA reveals the combinations of conditions that lead to the outcome (i.e. the reasons for low investment in crowdlending). Moreover, the analysis provides insight into the situation in Spain and the reasons why crowdfunding is less developed in Spain than in other European countries.

The primary objective of this study is to understand how gamification elements, perceived teacher support and boredom relate to academic performance and how these relationships are mediated by perceived enjoyment while pointing out such influence on educational outcomes.

A quantitative survey methodology was conducted with 350 Lebanese university students specializing in digital marketing. This study used structural equation modeling (SEM) to analyze the data and provide exciting insights into the complex ties between variables.

The results indicate that well-implemented gamification elements significantly increased perceived enjoyment and positively influenced academic performance. Furthermore, perceived teacher support enhanced the effectiveness of gamification by increasing student engagement and enjoyment. Conversely, boredom negatively affects perceived enjoyment and academic performance, underscoring the need for well-designed gamification strategies that sustain interest and motivation.

Structural equation modeling and other quantitative tools excel at discovering connections but may not reveal the origins of the patterns they uncover. Given the complexity of causation, quantitative studies examining the mediating role of subjective satisfaction may gain more insight using a mixed or qualitative approach. Although the data supplied by the 350 responders were interesting, the sample size was insufficient to make any definitive conclusions. These findings may not be generalizable because Lebanon’s student bodies are diverse. The ability to detect tiny changes in the target variables requires researchers to consider how much time and energy they can dedicate to gathering data while structuring their investigations.

This study contributes to understanding gamification as a powerful tool for innovation in education and reshaping learning into motivating, engaging and sustaining productive experiences to improve educational quality. Therefore, our recommendations shed light on such improvements' impact on society. In this vein, we enrich this path by highlighting the crucial role of teachers and decision-makers in developing new professional programs.

This study demonstrates the importance of perceived enjoyment in the transformative gamification process in education. This study emphasizes the value of effective gamification implementation supported by teachers as a powerful tool for enhancing learning experiences and improving the quality of education.