Compared with traditional charities, donation-based crowdfunding has many novel characteristics. Among the variety of factors that influence potential donors before they develop a donation intention, which are the main ones influencing the intention to donate online? The purpose of this paper is to investigate the key potential determinants of both time and money donations. This study attempts to combine the theory of planned behavior and norm activation theory with social presence theory to conceptualize and develop an integration framework to measure the donation intention. The results of the structural equation modeling, based on 350 valid questionnaire responses received from November 19 to December 19, 2018, suggest that the dependent variable of time donations is significantly affected by social presence, trust, and perceived behavioral control. As for the dependent variable of money donations, only subjective norm has an insignificant effect. The study results offer practical guidelines about the unique aspects of donation to managers of crowdfunding platform and fundraisers.

PurposeThis study adopts self-determination theory and stimulus-organism-response framework to develop a model that explores the motivations of such donors by considering their self-determination needs and extrinsic and intrinsic motivations.Design/methodology/approachBased on online survey data collected from 436 crowdfunding donors in China, this study follows a structural equation modeling analysis to test hypotheses.FindingsThe results indicate that perceived ease of use, perceived self-efficacy and social connection have positive effects on the donation intentions of backers through a combination of extrinsic and intrinsic motivations.Originality/valueThe findings shed light on various extrinsic and intrinsic motivations advancing knowledge of individual fund motivation in donation-based crowdfunding and provide guidelines for the development of donation-based crowdfunding theory and practice.

ABSTRAKPenelitian ini bertujuan untuk mengetahui pengaruh financial levarage terhadap profitabilitas pada perusahaan sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode 2010-2014 baik secara simultan maupun secara parsial. Financial leverage dapat dilihat melalui debt ratio dan debt to equity ratio, sedangkan profitabilitas dapat dilihat melalui return on equity.Hasil penelitian menunjukkan bahwa secara simultan kedua variabel independen, yaitu debt ratio dan debt to equity ratio secara bersama-sama berpengaruh terhadap profitabilitas. Untuk pengaruh secara parsial, hasil penelitian menunjukkan bahwa debt ratio tidak berpengaruh positif terhadap profitabilitas, sedangkan debt to equity ratio berpengaruh positif terhadap profitabilitas.Kata kunci : financial leverage, debt ratio, debt to equity ratio, profitabilitas, return on equity.

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