Persuasion in crowdfunding: An elaboration likelihood model of crowdfunding performance

Allison, Thomas H.; Davis, Blakley C.; Webb, Justin W.; Short, Jeremy C.

doi:10.1016/j.jbusvent.2017.09.002

Cited by 345 publications

(271 citation statements)

References 113 publications

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“…Related studies also find a positive correlation between project success and the dialogue between fundraisers and pledgers(Beaulieu and Sarker 2013;Kromidha and Robson 2016;Allison et al 2017;Clauss et al 2018;Wang et al 2018), project descriptions' language(Frydrych et al 2016;Yuan et al 2016;Gafni et al 2019;Parhankangas and Renko 2017), or social media usage(Borst et al 2017). …”

mentioning

confidence: 88%

Crowdfunding a monthly income: an analysis of the membership platform Patreon

Regner¹

2020

J Cult Econ

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Membership platforms allow creators to crowdfund a monthly income, while campaigns on conventional reward crowdfunding portals aim to reach a specified funding target within a preset period. We study transaction-level data from Patreon, the biggest membership platform, to gain insights about behavioral patterns at this emerging type of crowdfunding. Our analysis shows that hundreds of creators crowdfund a sizable income (more than $2500 monthly). We also find that measures of communication quality are determinants of project success, in line with the related literature. Funding dynamics-pledges as well as deletions-are heterogeneous across campaigns. Our analysis suggests that the option to delete the monthly pledge to a creator at any time serves as a feedback mechanism. We conclude that crowdfunding a monthly income offers the creative class a viable alternative to advertising-based business models.

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mentioning

confidence: 88%

Crowdfunding a monthly income: an analysis of the membership platform Patreon

Regner¹

2020

J Cult Econ

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“…Similarly, authors need to carefully consider how to provide evidence that relationships found in an experiment can generalize to field contexts. Here, often experiments are combined with field data to achieve both high internal validity and high external validity (e.g., Allison et al, 2017;Greenberg & Mollick, 2017;Oo, Allison, Sahaym, & Juasrikul, 2019). Second, there is the risk that experiments will become expected and taken-for-granted.…”

Section: Cross-disciplinary Workmentioning

confidence: 99%

Making a Contribution to Entrepreneurship Research by Studying Crowd-Funded Entrepreneurial Opportunities

Pollack¹,

Maula

Allison

et al. 2019

Entrepreneurship Theory and Practice

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This editorial outlines our perspective on the state of literature as well as suggestions for new contributions to entrepreneurship research in the area of crowd-funded opportunities. Our aim is, first, to outline what we see as best practices for research on crowd-funded entrepreneurial opportunities. Second, we aim to solicit additional articles for the Virtual Special Issue (VSI) on “Crowd-Funded Entrepreneurial Opportunities” in Entrepreneurship Theory and Practice. In contrast to typical editorial articles associated with special issues, we take a prospective approach and outline what we hope (and expect) to see in the literature in the future. Put differently, we are not going to summarize a subset of articles that have been accepted for publication—rather, we are going to delineate the subset of articles to be written that we would, ideally, like to see submitted to top-tier entrepreneurship journals in order to advance the literature. Along the way, we will describe best practices that we anticipate can elevate research in this burgeoning area of inquiry.

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“…In this context, social and psychological factors may be equally or more important than strictly financial returns. This suggests that narrative may play a significant role in successful CF activities by establishing a convincing and compelling investment story (Allison, Davis, Webb, & Short, ; Manning & Bejarano, ). According to Lindenberg and Steg (), crowd investors may be moved by altruistic or normative reasons, that is, reasons meeting their (or their community's) moral or ethical norms and select social ideas they deem worthy and needed (Lehner, ).…”

Section: The Role Of Cf In Promoting Sustainability‐oriented Initiatimentioning

confidence: 99%

“…This suggests that narrative may play a significant role in successful CF activities by establishing a convincing and compelling investment story (Allison, Davis, Webb, & Short, 2017;Manning & Bejarano, 2017).…”

Section: The Role Of Cf In Promoting Sustainability-oriented Initiamentioning

confidence: 99%

Crowdfunding as a tool to support sustainability‐oriented initiatives: Preliminary insights into the role of product/service attributes

et al. 2019

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A common goal of current research seems to uncover whether crowdfunding (CF) could be considered an effective way to support sustainability-oriented initiatives in securing funding, due to diverging results emerging from literature. We claim that the objective of proving whether CF may benefit sustainability-oriented initiatives could be misplaced; rather, we deem more fruitful to understand how critical are some attributes of products/services pursued within CF campaigns to benefiting sustainability-oriented initiatives and increasing their odds of success in CF. We focus on food-related projects as in this sector, sustainability issues apply more than to any other human activities and construct a unique sample of food CF campaigns launched and ended in the European Economic Area countries on the world's most popular reward-based CF platform, that is, Kickstarter. We identify campaigns with a sustainability orientation and perform an in-depth qualitative analysis, which allows us to classify them into meaningful clusters and subclusters. Our research suggests that the emphasis on egoistic/self-centered product attributes, rather than on altruistic/society-centered attributes, is generally more crucial to facilitate CF support to sustainability-oriented projects. However, the emphasis on altruistic/society-centered attributes emerges to be more beneficial for initiatives specifically supporting local products. Our results also suggest that rewardbased CF is not suitable for sustainability-oriented projects targeting disadvantaged individuals/groups. These results offer both theoretical and empirical contributions to the literature as well as practical implications.

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Persuasion in crowdfunding: An elaboration likelihood model of crowdfunding performance

Cited by 345 publications

References 113 publications

Crowdfunding a monthly income: an analysis of the membership platform Patreon

Crowdfunding a monthly income: an analysis of the membership platform Patreon

Making a Contribution to Entrepreneurship Research by Studying Crowd-Funded Entrepreneurial Opportunities

Crowdfunding as a tool to support sustainability‐oriented initiatives: Preliminary insights into the role of product/service attributes

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