Reward versus Altruistic Motivations in Reward-Based Crowdfunding

Ryu, Sunghan; Park, Jooyoung; Kim, Keongtae; Kim, Young‐Gul

doi:10.1080/10864415.2020.1715531

Cited by 45 publications

(37 citation statements)

References 74 publications

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“…Some studies offer contradictory findings about the relationship between intrinsic motivations and investment decisions in the case of different projects. For example, Bretschneider and Leimeister (2017) found that altruism is not significantly related to funding intention, but Ryu et al (2020) offered contrary results. A possible explanation might be the different characteristics of the different projects examined.…”

Section: Previous Research On Charitable Crowdfundingmentioning

confidence: 96%

Why Do People Support Online Crowdfunding Charities? A Case Study From China

et al. 2021

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Whereas the effect of people’s motivations to give to traditional, off-line charities has been extensively investigated, their motivations to support online charitable crowdfunding projects are largely unexplored. The present study examines the influences of extrinsic motivations (such as reputation, the wish to signal a certain image; and reciprocity, the expectation on future return for their present contribution), intrinsic motivations (such as a sense of belonging, the feeling of belonging to an integral part of a positive community; joy of giving, the anticipated positive emotions experienced by helping others; altruism, intrinsic desire to help others without expectation of a return; and financial constraints, individuals’ personally felt financial stresses induced by donations), and social interactions (such as social influence, people’s perception of how their close acquaintances believe they should support the project; and social ties, the strength of the relationship between the individual and the project initiator) on intentions to support charitable crowdfunding behaviors, namely, the willingness to share (WTS) project information and the intention to donate (ITD) money. Hierarchical multiple regression analyses on self-reported survey data from 617 respondents in China reveal support for the hypotheses. The results show that intrinsic motivations and social ties are predictors for both supporting behaviors. Reputation and social influence motivate people to share projects, but have no significant effects on their ITD. Reciprocity is positively, and financial constraints are negatively, related to ITD but have no significant effects on WTS. These findings offer insights into the motivations driving individuals’ participation in charitable crowdfunding. The implications for both platforms and fundraisers are discussed.

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Section: Previous Research On Charitable Crowdfundingmentioning

confidence: 96%

Why Do People Support Online Crowdfunding Charities? A Case Study From China

et al. 2021

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“…Broadly speaking, supporters of crowdfunding campaigns can be both intrinsically and extrinsically motivated [27,19,28].…”

Section: Motivation For Supporting Crowdfunding Campaignsmentioning

confidence: 99%

Appreciating Support – Antecedents of Subscription-Based Crowdfunding Campaign Success

Jöntgen¹

2022

Proceedings of the Annual Hawaii International Conference on System Sciences

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Using subscription-based crowdfunding platforms, content creators can transform their social embeddedness from social media websites into financial support and subsequently gain independence from advertisers. This study examines the antecedents of campaign success for subscription-based crowdfunding campaigns and how content creators can use them to run successful campaigns. For this, we crawled a comprehensive data set from the largest and most universally used subscription-based crowdfunding platform Patreon. Our results show that campaign creators should write an extensive campaign description, offer multiple reward levels with a wide span of costs, lividly engage with their community while focusing on postings with a high level of media richness, and use their social media followers to bring their campaign to success. We contribute to previous research by evaluating the effects of crowdfunding campaign characteristics that previous research only hypothesized and by focusing on the novel concept of subscription-based crowdfunding.

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“…In a review, Stephan (2018) discussed the role of well-being as both a facilitator of entrepreneurial action and a consequence of it, concluding that well-being is relevant in explaining entrepreneurs’ goal achievement. While well-being has hardly been addressed in the context of crowdfunding, several studies have hinted at its presence in the reasons for crowdfunders’ and backers’ actions (Gerber and Hui, 2013; Giudici et al , 2018; Gleasure and Feller, 2016; Hui et al , 2014; Ryu et al , 2020). Recently, Efrat et al (2021) presented the first empirical study showing that the interaction between crowdfunders and their backers is crucial for crowdfunders’ well-being.…”

Section: Research Backgroundmentioning

confidence: 99%

The transition from novice to serial crowdfunders: behavioral antecedents and well-being drivers

Efrat

Wald

Gilboa

2021

INTR

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PurposeSerial crowdfunders are vital to the advancement of crowdfunding, either by launching subsequent campaigns or by mentoring novice (first-time) crowdfunders. However, research on crowdfunders’ drivers has focused on either novice crowdfunders’ motivations or the factors contributing to serial crowdfunders’ success. The present study aims to complement existing knowledge on serial crowdfunders by exploring behavioral and well-being aspects that drive novice crowdfunders to become serial crowdfunders.Design/methodology/approachData on crowdfunders were retrieved through in-depth interviews with 42 novice and 17 serial crowdfunders on a list provided by the largest crowdfunding platform in Israel. Complementary data were collected from interviews with the chief executive officers (CEOs) of two leading rewards and donations platforms in Israel and from the contents of the pages of crowdfunding campaigns. A four-stage process of content analysis was applied.FindingsNovice and serial crowdfunders follow different logics. While novice crowdfunders’ motivations and behavior can mostly be explained by the theory of planned behavior (TPB) and follow a more rational process, serial crowdfunders’ motivations and behavior are guided by aspects of well-being.Originality/valueThe findings show that the more rational process described by the TPB and the dimensions of well-being interacts in a circular way to motivate serial operations by crowdfunders. Well-being is also manifested in the maintenance of social ties and the development of social capital, which are crucial for serial entrepreneurs.

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Reward versus Altruistic Motivations in Reward-Based Crowdfunding

Cited by 45 publications

References 74 publications

Why Do People Support Online Crowdfunding Charities? A Case Study From China

Why Do People Support Online Crowdfunding Charities? A Case Study From China

Appreciating Support – Antecedents of Subscription-Based Crowdfunding Campaign Success

The transition from novice to serial crowdfunders: behavioral antecedents and well-being drivers

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