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http://dx.doi.org/10.15813/kmr.2019.20.3.011

Goal Gradient Effect in Reward-based Crowdfunding; Difference in Project Category  

Hwang, Ji Hyeon (연세대학교 경영학과)
Choi, Kang Jun (연세대학교 경영학과)
Lee, Jae Young (연세대학교 경영학과)
Soh, Seung Bum (연세대학교 경영학과)
Publication Information
Knowledge Management Research / v.20, no.3, 2019 , pp. 173-193 More about this Journal
Abstract
Reward-based crowdfunding is a funding platform that allows funds to be raised to early operators who have lack of funds, and is seen as an outstanding infrastructure that is going to lead the fourth industrial revolution in that it is a field of realization of new technologies and creative ideas by start-ups. Reward-based crowdfunding has grown in line with the trend of the fourth industrial revolution, and funding success cases are taking place in various industries that culture/art to technology/IT, including as a new means of knowledge management in a rapidly changing industrial environment. The study focused on the fact that consumer's donation purposes may also vary depending on the category of projects classified as reward-based crowdfunding. Because consumer payment decisions and motivation of consumer purchasing behavior are classified according to the purpose of purchase, the previous papers that the goal gradient effect that the main motivation of consumer donation for reward-based crowdfunding introduced vary depending on project category of utilitarian and hedonic. In this study, consumer's daily donation data is collected by Indiegogo which is a leading reward-based crowdfunding company using web-crawling and the model was defined as propensity score matching (PSM) and random effect model. The results showed that the goal gradient effect occurred in utilitarian project category, but no goal gradient effect for the hedonic project category. Furthermore, this paper developed the study of motivation of consumer donation and contributes theoretical foundation by the results consumer donation may vary depending on the project category; also, this paper has implications for an effective marketing strategy depending on the project category leaves real meaning to the projector.
Keywords
Reward-based crowdfunding; Goal gradient effect; Project category; Utilitarian/Hedonic project category; Knowledge managements;
Citations & Related Records
Times Cited By KSCI : 3  (Citation Analysis)
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