In crowdfunding we trust? Investigating crowdfunding success as a signal for enhancing trust in sustainable product features

Wehnert, Peter; Baccarella, Christian V.; Beckmann, Markus

doi:10.1016/j.techfore.2018.06.036

Cited by 79 publications

(55 citation statements)

References 58 publications

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“…Comparing the two definitions, we can conclude that Mollick [1] has defined crowdfunding from an academic point of view, which is narrower. Moreover, as a new Internet-based financing model for microfinance [3,29,45], crowdfunding can be divided into four categories. The first is patronage-based crowdfunding, where supporters do not expect direct return from their contributions or donations.…”

Section: Crowdfunding and Reward-based Crowdfundingmentioning

confidence: 99%

Research on the Effects of Information Description on Crowdfunding Success within a Sustainable Economy—The Perspective of Information Communication

Liang¹,

Hu²,

Jiang³

2020

Sustainability

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Crowdfunding has been widely used by small and micro enterprises, which can raise funds through launching a project in crowdfunding platform. It is also beneficial to sustainable financing. What is more, the success of crowdfunding projects facilitates the sustainable development of those growing enterprises. In this study, from the perspective of information communication and based on information asymmetry and signaling theory, we identify three dimensions of information description, including information quantity (word count, picture count and video count), information attitude (as measured by comment), and information quality (readability and update). We empirically examine their direct effects on crowdfunding success and the moderating effect of information attitude using binary logistic regression. Data (N = 7207) is collected from Kickstarter, a popular crowdfunding platform. The results reveal that when considering these three dimensions of information description together, word count is associated with crowdfunding success in an inverted-U shape. Picture count, video count, comment, and update have positive effects on crowdfunding success. In contrast, readability is negatively related to crowdfunding success. In addition, we find that comment negatively moderates the effect of picture count on crowdfunding success. These findings show the significance of information description on crowdfunding success, bringing theoretical and practical insights for project creators.

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Section: Crowdfunding and Reward-based Crowdfundingmentioning

confidence: 99%

Research on the Effects of Information Description on Crowdfunding Success within a Sustainable Economy—The Perspective of Information Communication

Liang¹,

Hu²,

Jiang³

2020

Sustainability

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“…About the research background in the previous discussion, the hypotheses are formulated as the following: H1: Crowdfunding perception has a positive and significant relationship toward the Successful of implementation crowdfunding as an alternative way. This hypothesis base on Wehnert et al [20]. In this variable we know the respondents' answers about Crowdfunding is about selling products and services through social media and networks, Crowdfunding exists based on funds only from a charity, there is no major difference between crowdfunding and another funding sourcing, Crowdfunding occupy intermediate positions between business and non-profit organization H2: Social Norms have a positive and significant relationship with the Implementation of crowdfunding as an alternative way.…”

Section: Hypo-thesesmentioning

confidence: 99%

Crowdfunding as a Business Innovation to Finance SMEs for Sustainable Development Goals to Anticipating the Impact of Corona Virus Pandemic Disease (Covid-19) in Indonesia

Wahjono¹,

Marina²,

Fam³

et al. 2021

Proceedings of the 4th International Conference on Sustainable Innovation 2020-Accounting and Management (ICoSIAMS 2020)

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The purpose of this research is to see the potential for crowdfunding in financing SMEs and startup businesses during the Corona Virus Pandemic (Covid19) in Indonesia in the context of Sustainable Development Goals as a Business Innovation. The questionnaire was taken to SME owners who have seen crowdfunding domiciled in Indonesia, to see the effect of crowdfunding perceptions, social norms, regulations, entrepreneurship and technology, and the market on crowdfunding supported capital. Four variables (social norms, regulation, employers, and technology) studied showed a positive and significant effect, except for the perception of crowdfunding variable which showed a weak and insignificant effect. The limitation of this research was carried out in Indonesia during the Covid 19 period with a policy of social distancing and working from home.

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“…Since prior research found some implications from crowdfunding and sustainable development [74], future research on the crowdfunding of projects designed to promote sustainability, such as low-carbon developments, would be valuable to shed light on the risks and constraints of using crowdfunding to achieve finance solutions for the visitor economy and the sustainable development goals. Furthermore, because platform crowdfunding models (e.g., keep it all versus all or nothing) have a big impact on meeting fundraising goals [75], further multi-group analysis on different funding models could identify specific implications for successful projects.…”

Section: Limitations and Future Study Directionsmentioning

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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In crowdfunding we trust? Investigating crowdfunding success as a signal for enhancing trust in sustainable product features

Cited by 79 publications

References 58 publications

Research on the Effects of Information Description on Crowdfunding Success within a Sustainable Economy—The Perspective of Information Communication

Research on the Effects of Information Description on Crowdfunding Success within a Sustainable Economy—The Perspective of Information Communication

Crowdfunding as a Business Innovation to Finance SMEs for Sustainable Development Goals to Anticipating the Impact of Corona Virus Pandemic Disease (Covid-19) in Indonesia

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

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