Potential funders’ motivations in reward-based crowdfunding. The influence of project attachment and business viability

Herrero, Ángel; Ortega, Blanca Hernández; Martín, Héctor San

doi:10.1016/j.chb.2019.106240

Cited by 38 publications

(58 citation statements)

References 94 publications

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“…A search on Google Scholar found five such publications, among which four are on reward-based crowdfunding (Herrero et al, 2020;Shneor & Munim, 2019;Strohmaier et al, 2019; and the other one on entrepreneur-oriented crowdfunding (Sahaym, Datta, & Brooks, 2019). This study attempts to fill in the research gap by conducting a multi-nation survey of user participation in donation-based crowdfunding.…”

Section: Research Backgroundmentioning

confidence: 99%

“…Experiencing rapid growth in recent years, in particular, crowdfunding has emerged as a new form of micro-financing on the Internet (Massolution, 2015). Popular crowdfunding sites such as Kickstarter and Indiegogo mainly concern with equity-based or reward-based fundraising projects (Cho & Kim, 2017;Herrero, Hernández-Ortega, & San Martín, 2020;Vulkan, Åstebro, & Sierra, 2016). As an online philanthropy innovation, charitable crowdfunding gain popularity with more and more donationbased projects (Cox et al, 2018;D.…”

Section: Introductionmentioning

confidence: 99%

“…Compared with traditional fundraising methods, crowdfunding reaches out to a broader range of people for their donation. Despite the rising popularity of such donation-based crowdfunding, most researchers focus on equity-based or reward-based crowdfunding (Herrero et al, 2020;Shneor & Munim, 2019;Strohmaier, Zeng, & Hafeez, 2019;Vulkan et al, 2016;).…”

Section: Introductionmentioning

confidence: 99%

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Why do people patronize donation-based crowdfunding platforms? An activity perspective of critical success factors

Zhang

Tan

Sun

et al. 2020

Computers in Human Behavior

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As a special type of social information systems, crowdfunding platforms draw researchers' attention in recent years for their increasing popularity. In supplement to big-data analyses on usergenerated content, behavioral research using survey and interview observations provide insights on why people like or hesitate to use such platforms. Nevertheless, extant studies focus on user intention and equity/reward-based projects, leaving the knowledge body on why people actually engage in donation-based crowdfunding underdeveloped. Based on Activity Theory, this study explores the critical success factors of crowdfunding in terms of website acceptance, crowd familiarity, and donation reciprocity. It then develops a research model that adapts relevant constructs from e-commerce and charitable behavior literature to predict user trust and readiness leading to actual donation. To test the hypothesized relationships, a structural equation modeling analysis was performed on 744 survey responses collected from crowdfunding platform users in multiple countries. Results provide supporting evidence to most hypotheses and confirm the importance of factors related to the technological system as well as social collaboration in the crowdfunding activity.

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Section: Research Backgroundmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Why do people patronize donation-based crowdfunding platforms? An activity perspective of critical success factors

Zhang

Tan

Sun

et al. 2020

Computers in Human Behavior

View full text Add to dashboard Cite

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“…In addition, platform display the current funding rate in a significant place on the webpage, which will inevitably impact on the decision-making behavior of potential backers when they browse the webpage of the project. Second, the existing empirical research have come to a conclusion that the funding goal has an important influence on the project result and backers' decision-making behavior [ 4 , 40 ]; Third, for each project, funding goal is unchanged during the funding period, so it cannot be adopted as a variable in the Fixed effect panel data model regression, but Increased funding rate can.…”

Section: Methodsmentioning

confidence: 99%

“…webpage of the project. Second, the existing empirical research have come to a conclusion that the funding goal has an important influence on the project result and backers' decision-making behavior [4,40]; Third, for each project, funding goal is unchanged during the funding period, so it cannot be adopted as a variable in the Fixed effect panel data model regression, but Increased funding rate can.…”

Section: Plos Onementioning

confidence: 99%

Backers investment behavior on explicit and implicit factors in reward-based crowdfunding based on ELM theory

2020

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The aim of this study is to identify the dynamic explicit and implicit information factors which displayed on the webpage of platforms that influence backers' investment decision-making behavior. We analyze the connections among these factors by collecting the longitudinal dataset from reward-based crowdfunding platform. Based on ELM model, we establish Fixed Estimation Panel Data Model respectively according to explicit and implicit factors and take Funding Status (crowdfunding results) as the moderating variable to observe the goal gradient effect. Results indicate that most variables in the central route affect backers' investment behavior positively, while most variables in the periphery route have a negative impact on backers' investment behavior. The Funding Status has a significant negative moderating effect on the explicit variables, and has no significant moderating effect on the implicit information variables of the project. In addition, we upgrade the econometric method used by previous scholars, which could improve the accuracy of the FE model. Furthermore, we find strong support for the herding effect in reward-based crowdfunding and the intensity tends to decrease before the funding goal draws near.

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Antecedents of intentions to crowdfund luxury brands and projects: Evidence from French consumers

2022

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Luxury firms, including high-end watch manufacturers, use crowdfunding as an alternative source of entrepreneurial finance. Respondents indicated that intention to crowdfund luxury brand start-ups have both external and internal antecedents with the slight majority focusing on the extrinsic factors. The "luxury" proposition exhibits integrated motivation, which is conceptualized and personalized to the tastes of each investor.

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Potential funders’ motivations in reward-based crowdfunding. The influence of project attachment and business viability

Cited by 38 publications

References 94 publications

Why do people patronize donation-based crowdfunding platforms? An activity perspective of critical success factors

Why do people patronize donation-based crowdfunding platforms? An activity perspective of critical success factors

Backers investment behavior on explicit and implicit factors in reward-based crowdfunding based on ELM theory

Antecedents of intentions to crowdfund luxury brands and projects: Evidence from French consumers

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