Crowdfunding Success of Tourism Projects - Evidence from Switzerland.

Beier, Michael; Wagner, Kerstin

doi:10.2139/ssrn.2520925

Cited by 23 publications

(19 citation statements)

References 16 publications

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“…Reward-based crowdfunding is the model most employed in tourism, comprising the largest number of online platforms that post this kind of projects (Bao and Huang 2017; Beier and Wagner 2015; Z. Wang, Li, and Law 2015). These platforms facilitate access to an internal social capital made up of thousands of potential crowdfunders and encourage the generation of social awareness related to the project.…”

Section: Theoretical Background On Crowdfundingmentioning

confidence: 99%

Social Consciousness and Perceived Risk as Drivers of Crowdfunding as a Socially Responsible Investment in Tourism

Martín

Hernández

Herrero

2020

Journal of Travel Research

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This article is a first step in examining reward-based crowdfunding in tourism as a socially responsible investment where individuals collaborate with projects that contribute to the development of their communities in economic, environmental, and/or sociocultural terms. Thus, the present study develops a model where social consciousness and perceived risk are postulated to influence individuals’ attitudes toward and intentions to participate in a project of crowdfunding. Based on a simulated crowdfunding project of “enotourism” that contributes to the development of a region in Spain, results reflect that the main drivers of individuals’ overall attitude toward crowdfunding are social consciousness and platform risk. Additionally, individuals’ intentions to fund the tourism project are influenced by their specific attitude toward the project and their overall attitude toward crowdfunding.

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Section: Theoretical Background On Crowdfundingmentioning

confidence: 99%

Social Consciousness and Perceived Risk as Drivers of Crowdfunding as a Socially Responsible Investment in Tourism

Martín

Hernández

Herrero

2020

Journal of Travel Research

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“…One more project characteristic, which could lead to success in financing is described as national proximity. Beier and Wagner (2014) confirms that specific project characteristics such national proximity leverage fundraising success.…”

Section: Literature Reviewmentioning

confidence: 55%

“…Cordova et al (2011) analyzed technological projects and the factors they have been financed while Koch and Siering (2016) worked on it overall, without any classification. Further researches were split into geographical locations by Beier and Wagner (2014) and Barasinska and Schlafer (2014), crowdfunding platforms by Rhue and Clark (2016), Zvilichovsky et al (2013), Kuppuswamy and Bayus (2015). The motivation and deterrents for participation were an interest of research by Gerber and Hui (2013).…”

Section: Introductionmentioning

confidence: 99%

An analysis of crowdfunded projects: KPI’s to success

Astrauskaitė¹,

Paškevičius²

2018

JESI

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The perception of alternative finances is stimulating the global financial markets and competition between banking funding and non-banking one. In order to encourage the demand of alternative funding the overall studies and researches concentrate on different relationships of economic indicators, describing lending, savings, prosperity, GDP per capita, etc. However, there is still a lack of encouragement to the market participants to provide the market with ideas and projects, which could be crowdfunded. In order to put the efforts for the better acknowledgement and demand incentives this paper was worked up. With the aim to introduce the key performing indicators (KPI's) for successful projects, which were financed through crowdfunding platforms, the comparative analysis was made, using Pearson correlation. It has been found, that narrative of the project and visualization are among the successful factors for crowdfunding. However, the requested amount of money, location or category of the project seemed to have lesser effect to success of crowdfunding. The results of the research are adoptable for initial offerings in crowdfunding platforms, potential projects owners, as well as the further researchers developing the topic of crowdfunding. With the strong novelty and broad (regionally) sample, the research represents its value and contributes to the theoretical and empirical background of crowdfunding.

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“…Scholars from leisure and tourism-related fields have started to develop substantial interest in crowdfunding [31][32][33][34][35]. Crowdfunding is used for marketing implements for advertising as well as progress for tourism-related innovative ventures [31,32].…”

Section: Visitor Economy Crowdfundingmentioning

confidence: 99%

“…Crowdfunding is used for marketing implements for advertising as well as progress for tourism-related innovative ventures [31,32]. The use of Twitter for the crowdfunding campaigns of tourism projects has been examined in terms of the number of different rewards and the relationship to the chance of tourism crowdfunding success [33]. Leisure and cultural projects in a touristic location have been found to have the best funding success rate [34].…”

Section: Visitor Economy Crowdfundingmentioning

confidence: 99%

Can Co-Creation and Crowdfunding Types Predict Funder Behavior? An Extended Model of Goal-Directed Behavior

Kim

Hall

2019

Sustainability

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Crowdfunding is an emerging means for financing by small and medium-sized enterprises or individuals to attract capital from investors who look to obtain products, services, and/or equity in the future. Co-creation in crowdfunding projects substantially influences sponsors’ behavior, playing a critical role in crowdfunding performance. Despite the significance of co-creation in crowdfunding, research from the leisure and tourism fields has been largely neglected in terms of theory-based models of co-creation. To address this gap, the goal of this work is to study the effects of co-creation on the extended model of goal-directed behavior, along with the moderator of crowdfunding types. To do this, an online survey was conducted on crowdfunders in South Korea and partial least squares (PLS)-structural equation modeling (SEM) was applied to analyze the collected data. Results reveal that co-creation considerably leads to attitude towards, as well as behavior in relation to, crowdfunding participation. Funders’ attitude and positive and negative anticipated emotion also significantly influence desire to participate in crowdfunding. Behavioral intention is highly affected by perceived behavioral control as well as desire. Reward and investment types significantly moderate eight relationships in the research model. Hence, this study contributes to crowdfunding research and stakeholders in the visitor economy sectors.

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Crowdfunding Success of Tourism Projects - Evidence from Switzerland.

Cited by 23 publications

References 16 publications

Social Consciousness and Perceived Risk as Drivers of Crowdfunding as a Socially Responsible Investment in Tourism

Social Consciousness and Perceived Risk as Drivers of Crowdfunding as a Socially Responsible Investment in Tourism

An analysis of crowdfunded projects: KPI’s to success

Can Co-Creation and Crowdfunding Types Predict Funder Behavior? An Extended Model of Goal-Directed Behavior

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