Understanding the Effects of Crowdfunding on Entrepreneurial Self-Efficacy

Harburg, Emily; Hui, Julie; Greenberg, Michael D.; Gerber, Elizabeth M.

doi:10.1145/2675133.2675142

Cited by 17 publications

(11 citation statements)

References 34 publications

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“…They also perceive crowdfunding as a more accessible approach relative to traditional fundraising approaches, such as grant applications. Drawing on the social cognitive theory, Harburg et al (2015) showed that crowdsourcing has impact on the entrepreneurial self-efficacy through social validation, role modeling, mastery and physiological states supported by social technical features, such as displaying a concrete goals, examples of other’s work or public feedback.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…Existing crowdfunding literature has studied the paths leading to a project success, mainly focusing on the likelihood of success, that is, whether a crowdfunding project can achieve its initial funding goal (Beier and Wagner, 2014; Liu, Bhattacharya and Jiang, 2014; Xiao et al , 2014; Zhang et al , 2014; Zheng, Li, Wu and Xu, 2014; Du and Wang, 2017). Prior literature also investigated the crowdfunding process and identified the motivators and deterrents that influence participation on crowdfunding platforms, which inform design implications, targeted to improve the overall success rate of projects (Greenberg et al , 2013; Hui, Gerber and Gergle, 2014; Hui et al , 2012; Hui, Greenberg and Gerber, 2014; Gerber and Hui, 2013; Greenberg and Gerber, 2014; Harburg et al , 2015; Hui and Gerber, 2015). However, in reality, fundraisers not only expect to achieve their initial funding goals, but also exceed their initial goal, which might help risky, new ventures and startups to avoid financial losses and failures in the short to medium run.…”

Section: Introductionmentioning

confidence: 99%

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Does more crowd participation bring more value to crowdfunding projects? The perspective of crowd capital

Yin

Liu

Mirkovski

2019

INTR

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Purpose The purpose of this paper is to focus on investigating the impact of crowd participation on degree of project success, which is defined as the total amount of funds a project can obtain after it reaches its initial funding goal threshold. Design/methodology/approach Drawing on the theory of crowd capital, this study develops six hypotheses about the impact of crowd capability of a fundraiser (i.e. project updates, goal setting, reward levels and social media usage) and crowd participation (i.e. namely, funds pledge and on-site communication) on degree of project success. The hypotheses are tested using data sets of successful projects collected from two popular crowdfunding websites. Findings This study finds that funds pledge has an inverse U-shaped relationship with degree of project success. Project updates, reward levels and on-site communication positively influence degree of project success, while funding goal negatively affects degree of project success. Research limitations/implications This study contributes to prior literature by investigating the degree of project success determinants using the perspectives of both fundraisers and crowds, which provides a more comprehensive understanding of what makes a crowdfunded project a success. Practical implications The empirical results of this study provide fundraisers with guidelines about how to access more funds after achieving the initial funding goals. Originality/value This work is one of the first to investigate the degree of project success and its determinants from the perspectives of both fundraisers and crowds.

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Section: Theoretical Backgroundmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Does more crowd participation bring more value to crowdfunding projects? The perspective of crowd capital

Yin

Liu

Mirkovski

2019

INTR

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“…Friendsourcing has its costs (Rzeszotarski and Morris 2014), and student innovators may becomes less willing to spend social capital on their work, or those in their social networks may begin to be less willing to help. There are also different psychological costs to performing innovation online where people are made aware of the projects' shortcomings (Harburg et al 2015). It important to understand the balance between seeking large amounts of quick, honest feedback from social networks and the detriments of sharing early stage work publicly.…”

Section: Discussionmentioning

confidence: 99%

Using Anonymity and Communal Efforts to Improve Quality of Crowdsourced Feedback

Hui¹,

Glenn

Jue

et al. 2015

HCOMP

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Student entrepreneurs struggle to collect feedback on their product pitches in a classroom setting due to a lack of time, money, and access to motivated feedback providers. Online social networks present a unique opportunity for entrepreneurial students to quickly access feedback providers by leveraging their online social capital. In order to better understand how to improve crowdsourced online pitch feedback, we perform an experiment to test the effect of online anonymity on pitch feedback quality and quantity. We also test a communal feedback method—evenly distributing between teams feedback providers from the class’s collective online social networks—which would help all teams benefit from a useful amount of feedback rather than having some teams receive much more feedback than others. We found that feedback providers in the anonymous condition provided significantly more specific criticism and specific praise, which students rated as more useful. Furthermore, we found that the communal feedback method helped all teams receive sufficient feedback to edit their pitches. This research contributes an empirical investigation to the crowdsourcing community of how crowds through online social networks can help student entrepreneurs obtain authentic feedback to improve their work.

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“…Existing HCI research shows that "self-efficacy leads to better learning" [62]. While HCI research has explored the role of self-efficacy in contexts of community health workers [15], entrepreneurs [29] and makerspaces [33], it has received little attention in the context of training in general, and volunteer training in particular.…”

Section: Reclaiming Trainee Agency and Sense Of Authorshipmentioning

confidence: 99%

Utilizing Participant Voice in Volunteer Training

Varghese

Rainey

Montague

et al. 2020

Proceedings of the 2020 CHI Conference on Human Factors in Computing Systems

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Delivering training to volunteers is a huge challenge for nongovernmental organizations (NGOs). Traditional classroombased approaches that dominate training are problematic due to the limited participation they offer to trainees. Peer-led approaches however, have shown promise in helping NGOs utilize trainee experiences within training. Although technologies are playing an increasing role in training, their benefits are not well understood. We describe our experience of designing peer-led training for community volunteers in rural India. Working alongside an NGO involved in community regeneration and social action, we collaboratively delivered a ten-day training workshop, deploying audio technologies to engage the participants in sharing lived experiences. We draw on reflections from trainers and trainees on how utilizing participant voice can enhance training. We highlight opportunities around the usage of audio technologies for engaging with participant voice, including the ability to reclaim trainee agency within training and to work within cultural barriers.

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Understanding the Effects of Crowdfunding on Entrepreneurial Self-Efficacy

Cited by 17 publications

References 34 publications

Does more crowd participation bring more value to crowdfunding projects? The perspective of crowd capital

Does more crowd participation bring more value to crowdfunding projects? The perspective of crowd capital

Using Anonymity and Communal Efforts to Improve Quality of Crowdsourced Feedback

Utilizing Participant Voice in Volunteer Training

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