Backer funding intention in reward-based crowdfunding: service-dominant logic and stimulus-organism-response perspectives

Abstract

PurposeThe new age of entrepreneurs recognizes crowdfunding as an innovative and effective means of obtaining funding from backers. However, attracting backers is challenging and related scholarly knowledge lacking. Therefore, this study investigates the diverse factors influencing backer funding intention in reward-based crowdfunding.Design/methodology/approachThis study conducted an online survey of 401 registered backers from two reward-based crowdfunding platforms in Taiwan. Data were analyzed using covariance-based structural equation modeling.FindingsResults show that entrepreneur activeness has a negative effect on perceived risk but positively, while entrepreneur activeness and platform interactivity have a positive effect on backer engagement and backer value creation. Although it had no significant impact on backer engagement, project novelty positively influenced backer value creation. Perceived risk had no influence on either backer engagement or backer value creation. Backer engagement positively influenced backer value creation and backer funding intention, with the former having a positive impact on the latter.Originality/valueThis study provides a multi-perceptual lens by proposing an integration of diverse factors such as entrepreneurial- (entrepreneur activeness), project- (project novelty and perceived risk) and platform-related characteristics (platform interactivity) as antecedents to backer funding intention. By integrating a service-dominant logic perspective into the stimulus-organism-response model, this study highlights the essence of value creation by perceiving backers as value co-creators.

Brand crowdfunding using followers boosted through gamification affordances: insights from two emerging markets

“…First, it contributes to resource-based theory, service-dominant logic and the theory of planned behavior by expanding their boundaries to a novel context of BCF. Whereas previous studies used these theories to support their general crowdfunding frameworks (Wu et al, 2023;Fortezza et al, 2021), the research findings strengthen the argument that a robust framework integrating several theories may provide comprehensive and valuable insights about SMBE, gamification and brand loyalty under the BCF context. Second, this study identifies SMBE as a solid phenomenon for backers' engagement in BCF and brand loyalty, thus highlighting the importance of SMBE and its relevance to relationship and service marketing literature.…”

Understanding Crowdfunding via Social Media: A Review of the Relevancy of Previous Studies

“…Age, gender, familiarity with crowdfunding, and risk attitudes were identified as significant predictors of fundraising for start-ups (Sathirakul, 2022;Park & Loo, 2022). Lastly, Wu et al (2022) found that entrepreneur activeness and platform interactivity impact backer involvement and perceived risk.…”