Crowdfunding for Creating Value: Stakeholder Approach

Valančienė, Loreta; Jegelevičiūtė, Sima

doi:10.1016/j.sbspro.2014.11.248

Cited by 65 publications

(65 citation statements)

References 8 publications

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“…In comparison, the positive effect of commitment on enhancing crowdfunding intention is significant. These findings are consistent with other studies on the specific effects of intangible factors, such as communication [65], shared values [66], or commitment [67]. However, the present study is one of few studies to interpret the structural and progressive relationships among these factors in a crowdfunding context.…”

Section: Discussionsupporting

confidence: 92%

Developing and Validating a Theory-Based Model of Crowdfunding Investment Intention—Perspectives from Social Exchange Theory and Customer Value Perspective

et al. 2019

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In order to improve public financing sustainability in China, the Chinese government has announced several administrative policies on crowdfunding, concerning platform construction and operation, in recent years. However, the existing policy scope rarely mentions the importance of social psychology, which also plays a decisive role in determining the participation and success rates of crowdfunding. Therefore, this study uses the knowledge from social exchange theory (SET) and customer value perspective (CVP) to develop and validate a conceptual model of the key determinants of the public’s intention in investing in crowdfunded projects in China. Based on the primary survey data, the SEM (structural equation modeling) estimations suggest that: (1) communication, shared values, investors’ perceived benefits, and perceived risk have significant effects on crowdfunding investors’ trust in fundraisers of a particular crowdfunding project, which in turn act on their commitment and intentions to invest in the project; (2) trust strengthens funding intentions through fulfilling commitments, whereas its direct effect on funding intentions is insignificant; (3) commitment has a direct and significant positive effect on the enhancement of funding intentions. These findings propose a new perspective of improving public policies to support small and micro enterprises (SMEs) and individual innovative projects in China.

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Section: Discussionsupporting

confidence: 92%

Developing and Validating a Theory-Based Model of Crowdfunding Investment Intention—Perspectives from Social Exchange Theory and Customer Value Perspective

et al. 2019

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“… Belleflame et al (2014) acknowledge these legacies, but emphasise the participative online foundation of modern practices, arguing that the main objective of crowdfunding in the digital age is to: “collect money for investment, generally by using online social networks,” permitting fundraising spread across large crowds, rather than requiring tapping of: “a small group of sophisticated investors” (p. 586). Indeed, virtually all modern formulations of the crowdfunding notion emphasise the digital context; for example, Valančienė and Jegelevičiūtė (2014) suggest that it facilitates: “connection between entrepreneurs, who aim to raise capital, and novel investors, who form an emerging source of capital and are willing to invest small amounts, through internet-based intermediaries” (p. 601).…”

Section: Prior Literaturementioning

confidence: 99%

European perceptions on crowdfunding for renewables: Positivity and pragmatism

Bergmann

Burton

Klaes

2021

Ecological Economics

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Highlights Funding for renewables has been cut across Europe in the years since the financial crisis. Crowdfunding models share a societal ethos with proponents of investment in renewables. Positive attitudes are shown to be widespread regarding crowdfunding's potential to support renewables. The evidence suggests that both emotional and pragmatic (experiential) factors underpin this pattern.

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“…However, little is known how collaboration informs and influences opportunity recognition and exploitation and thus ultimately innovation and value propositions [25]. Valančienė and Jegelevičiūtė [26] specifically look at the role of stakeholders and how they influence the processes in which value is created. In addition, they see the dual identities of customers and suppliers as users and backers and discuss the shifting role of financial institutions and their influence on value creation.…”

Section: State Of the Art In Cf Researchmentioning

confidence: 99%

Crowdfunding Platforms as Focal Actors in an Entrepreneurial Ecosystem: An Interdisciplinary Value Perspective

Lehner¹,

Harrer²

2019

Proceedings of the Annual Hawaii International Conference on System Sciences

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Research into Crowdfunding (CF) rarely uses a holistic view on the role of relevant actors and their activities. We thus demonstrate this gap and need from literature and apply an ecosystem perspective to study the influence of crowdfunding platforms (CFPs) as focal actors on the field from a neo-institutional perspective. We look at the structure (focus on interaction through activities) and affiliation (focus on interconnectedness of actors) of multiple case studies of CFPs and ventures to develop five propositions that enable us to build early theory on CF as an entrepreneurial ecosystem that includes an apt conceptualization of the interconnectedness between actors and activities, positions and links in order to create value-with CFPs as powerful central actors.

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Crowdfunding for Creating Value: Stakeholder Approach

Cited by 65 publications

References 8 publications

Developing and Validating a Theory-Based Model of Crowdfunding Investment Intention—Perspectives from Social Exchange Theory and Customer Value Perspective

Developing and Validating a Theory-Based Model of Crowdfunding Investment Intention—Perspectives from Social Exchange Theory and Customer Value Perspective

European perceptions on crowdfunding for renewables: Positivity and pragmatism

Crowdfunding Platforms as Focal Actors in an Entrepreneurial Ecosystem: An Interdisciplinary Value Perspective

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