A typology of crowdfunding sponsors: Birds of a feather flock together?

Ryu, Sunghan; Kim, Young‐Gul

doi:10.1016/j.elerap.2016.01.006

Cited by 141 publications

(174 citation statements)

References 62 publications

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“…Currently, the research on reward‐based crowdfunding focused on the following aspects: participants' motivations and investment behaviour (Belleflamme et al, ; Ryu & Kim, ), factors that contribute to the performance of fundraising (Balboni, Kocollari, & Pais, ; Mollick, ), project filtering (Mollick & Nanda, ; Wessel, Thies, & Benlian, ), fraud detection (Siering, Koch, & Deokar, ), information control (Burtch, Ghose, & Wattal, ), and regulation issues (Bradford, ; Stemler, ) on crowdfunding platforms.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In addition, helping others and being part of a community for supporting creative projects also motivates sponsors in crowdfunding (Gerber & Hui, ; Kuppuswamy & Bayus, ; Ordanini et al, ). On the basis of their motivations, sponsors were classified as 4 categories: angelic backer, reward hunter, avid fan, and tasteful hermit (Ryu & Kim, ).…”

Section: Literature Reviewmentioning

confidence: 99%

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Sponsor's cocreation and psychological ownership in reward‐based crowdfunding

Zheng

Zhang

et al. 2018

Information Systems Journal

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Crowdfunding is a new financing channel for small and mediumsized enterprises and individual entrepreneurs to raise funds for innovation projects online. In reward-based crowdfunding, project sponsors invest money and receive rewards as a return. They may also participate in product development and project implementation as value cocreators. This paper investigates how sponsors' cocreation behaviours lead to their generation of psychological ownership in the crowdfunding projects. The research model was developed, and data were collected from sponsors on Zhongchou (www.zhongchou.com), a well-known crowdfunding platform in China. The results indicated that psychological ownership is an important mental state for sponsors in crowdfunding, which significantly affects their commitment to projects. We also identified the important routes to sponsor psychological ownership in crowdfunding: perceived control and intimate knowing, through which sponsors' cocreation significantly influences the emergence of psychological ownership. The effects of cocreation process are moderated by 2 important factors: entrepreneur activeness, and sponsor's social connection, in the crowdfunding projects. This paper contributes to crowdfunding research and has practical implications for crowdfunding projects and platforms.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Sponsor's cocreation and psychological ownership in reward‐based crowdfunding

Zheng

Zhang

et al. 2018

Information Systems Journal

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“…Bidding small amounts and investing in a loan part -like betting in gambling such as lottery -can produce fun, excitement, and thrill. Prior studies that have surveyed crowdfunders about their motivations point to the relevance of "having fun" (Berglin and Strandberg, 2013;Ryu and Kim, 2016;Daskalakis and Yue, 2017), among others; however, survey methods are introspectively derived, and intentional self-assessments and thus, suffer from methodological issues (Nosek, Hawkins, and Frazier, 2011). 1 Therefore, to empirically identify the variation in pledging activity across individuals explained by the entertainment and fun motivation, we employ the setting of lottery as a form of gambling.…”

Section: Introductionmentioning

confidence: 99%

Crowdfunding as Gambling: Evidence from Repeated Natural Experiments

2019

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We explore whether sensation-seeking, a personality trait that involves risk-taking for novelty and thrill, is one of the underlying motivations for participating in peer-to-peer lending crowdfunding markets. To empirically substantiate this argument, we test whether individuals participating in Prosper, one of the largest lending markets in the U.S., reduce their lending activity when gambling in the form of playing the multistate lotteries Powerball and Mega Millions becomes more attractive. Lottery is a repeated natural experiment: lottery jackpots are randomly won and a series of draws with no winners form large jackpots. We find that the thrill of winning a large jackpot lottery, perhaps intensified by advertising and media coverage around this event, fulfills some lenders' desire of sensation-seeking and substitutes participating in Prosper, decreasing their lending activity. We discuss implications for lenders and borrowers, as well as platform organizers and policy makers.JEL Classification: G23, G41.

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“…The adequacy or inadequacy of the resources used in interpersonal interactions is decisive in the interactive value formation (Plé, & Cáceres, 2010). Using varying approaches, the literature discusses characteristics of the process of value creation in crowdfunding and its positive consequences (Ordanini et al, Lu et al, 2014;Meyskens, & Bird, 2015;Ryu, & Kim, 2016;Xu et al, 2016), as well as revealing the potential risks of co-created services (Heidenreich et al, 2015).…”

Section: Introductionmentioning

confidence: 99%

Interactive Value Formation: Types of Crowdfunding and Exchanged Resources’ Characteristics

Inácio

Botelho

et al. 2019

RAD

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Crowdfunding é uma forma de interação entre pessoas que desenvolvem projetos e aqueles que querem apoiar tais iniciativas. Este artigo estabelece uma relação entre os tipos de crowdfunding e as características dos recursos utilizados para a formação de valores interativos na interface torcedor-criador de projetos de crowdfunding. A perspectiva da Teoria dos Recursos Sociais é usada para definir e classificar recursos (amor, status, informação, dinheiro, bens e serviços) e tipos de crowdfunding (recompensa, doação, capital e dívida). No crowdfunding de doação, os recursos trocados têm significados mais particularistas e simbólicos; recompensa, mais concreta e não-particularista; dívida, mais particularista e concreta; e equidade, mais não-particularista e simbólica. O referencial teórico proposto auxilia na seleção dos recursos adequados para favorecer o alcance das metas do projeto.

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A typology of crowdfunding sponsors: Birds of a feather flock together?

Cited by 141 publications

References 62 publications

Sponsor's cocreation and psychological ownership in reward‐based crowdfunding

Sponsor's cocreation and psychological ownership in reward‐based crowdfunding

Crowdfunding as Gambling: Evidence from Repeated Natural Experiments

Interactive Value Formation: Types of Crowdfunding and Exchanged Resources’ Characteristics

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