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http://dx.doi.org/10.7838/jsebs.2015.20.1.137

Factor Analysis of the Motivation on Crowdfunding Participants : An Empirical Study of Funder Centered Reward-type Platform  

Lee, Chae Rin (Graduate School of Information, Yonsei University)
Lee, Jung Hoon (Graduate School of Information, Yonsei University)
Shin, Dong Young (Graduate School of Information, Yonsei University)
Publication Information
The Journal of Society for e-Business Studies / v.20, no.1, 2015 , pp. 137-151 More about this Journal
Abstract
Crowdfunding is a novel method for funding from many individuals using web based platform often in return for products or equity. It allows individual entrepreneurs to create diverse products and services. This thesis elaborates a theoretical foundation for identifying the factors that must have motivated the funders in sponsoring crowdfunding projects. Based on the motivation theory, the proposed research model is constructed with intrinsic and extrinsic motivations from relevant literatures. We also examined how different crowdfunding modes ('Keeping It All' and 'All or Nothing') moderate the proposed research model. Based on the survey from various crowdfunding service providers in Korea, this empirical study found that continuous participation in crowdfunding is positively correlated with factors such as enjoyment, familiarity, agency credibility and reward, while peer-influence shows negative correlation. Furthermore, moderating effects of funding modes significantly affect continuous participation. These empirical results contribute insights on the emerging phenomenon of crowdfunding from funders' perspectives and shed lights more on the ways that the actions of platform providers may affect their ability to receive entrepreneurial financing.
Keywords
Crowdfunding; Crowdsourcing; Platform; Funding; Motivation Theory; Reward;
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Times Cited By KSCI : 1  (Citation Analysis)
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