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http://dx.doi.org/10.5859/KAIS.2021.30.2.1

Empirical Analysis of Participation and Word of Mouth Intention of Reward-based Crowdfunding: Focusing on Platform Trust  

Kim, Bo Ra (경북대학교 경영학부)
Park, Hyun Sun (경북대학교 경영학부 4단계 BK21사업)
Kim, Sang Hyun (경북대학교 경영학부)
Publication Information
The Journal of Information Systems / v.30, no.2, 2021 , pp. 1-27 More about this Journal
Abstract
Purpose Even if many startups firms have developed innovative items and a potential for success, they often have a limited financial resources, which makes them difficult to do business. To overcome this financial difficulty, startups have used one of fintech services, called crowdfunding that can be a good alternative to solving the difficulty of financing. The purpose of this study is to empirically validate the proposed research model that investigates the reasons of trusting crowdfunding platform, which positively leads to two outcomes - intention to participate and word-of-mouth for reward-based crowdfunding project. Design/methodology/approach We proposed several factors categorized as trust, information quality, and platform traits that have a positive impact on trust of crowdfunding platform, which positively leads to intention to participate and word-of-mouth of crowdfunding. The collected(n=285) from individuals who have participated in crowdfunding project was analyzed with SmartPLS 3.0 to test proposed hypotheses. Findings The results showed that all proposed variables (website reputation, crowdfunding familiarity, digital storytelling, information quality, and interaction) had a significant impact on crowfunding platform trust with exception of product differentiation. In addition, crowfunding platform trust was positively associated with participating intention and word-of-mouth. Based on findings, we discussed the research results and implication alone with a direction for future studies.
Keywords
Reward-based Crowdfunding; Trust; Information Characteristic; Platform Characteristic; Participation Intention; Word of Mouth;
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