• The Journal of the Korea Contents Association
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• v.20 no.12
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• pp.13-22
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• 2020

This study aims to find out success factors of crowdfunding on movie projects. For empirical analysis, we collected 583 data of the movie projects from the crowdfunding platform 'Tumblbug'. To figure out the success factors, we examined effects of 10 independent variables on 1 dependent variable. The independent variable includes target amount, project information, reward options, creator funding power, editor recommendation, creator contents power, movie type, number of comments, number of replies, and number of SNS information. The final achievement rate of crowdfunding was set as dependent variable. This study found that the target amount, number of text information, number of video information, editor recommendation, number of backers' reply, and number of SNS information had a significant impact on the achievement rate of the movie crowdfunding project. This study has implications in that it has discovered a variable of editor recommendation and the number of SNS information, and both of them have a positive effect on crowdfunding achievement.

• The Journal of the Korea Contents Association
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• v.16 no.1
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• pp.204-213
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• 2016

Crowd funding can be understood that consumers are participated in production process before real commercialization. These days there are some expectancy and worry about foreign capital influence to Korea Wave. This study is to find out the possibility that Korea Wave can lead to investment to make new cultural contents and find possibility as new investment funding source. Expecially this research did survey at Gwangjou in China with 20s and find their possibility to invest money for crowd funding related to Korea Wave and we evaluate consumer's Korea Wave preference. The results showed that with more preference of Korea Wave decrease consumer's perceived risk and increase consumer's perceived benefit. With this research we can find some possibility of motive for consumer's direct investment to Korea Wave project in Korea.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.17 no.2
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• pp.99-114
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• 2022

Crowdfunding is one of new financing alternatives and is innovative and creative. In order to proceed with crowdfunding, various functions are required, such as design for screen composition, marketing and promotion for the public, accounting to manage the collected funds, and product production and purchase for reward. In addition, since it is a project that must be completed in a short period of time, cooperation between team members is important. This paper studied how the characteristics of the team conducting crowdfunding affect the team performance in crowdfunding. In this study, we set functional background diversity and shared leadership necessary for crowdfunding as team characteristic variables and crowdfunding amount, completion of work and team innovation as team performance variables. This study tests the hypotheses from 220 university students in 79 teams. The findings suggest that functional diversity and shared leadership are positively related to the completion of work and team innovation but not related to crowdfunding amount. To date, few studies have studied the relationship between characteristics of the crowdfunding team and performance. Therefore, the study on functional diversity and shared leadership in crowdfunding can expand existing crowdfunding study area.

• The Journal of Information Systems
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• v.25 no.4
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• pp.141-161
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• 2016

Purpose As crowdfunding is a relatively recent phenomenon, determinants of successful crowdfunding with empirical data have been under-researched. Consequently, we examine the role of information- and behavior-based social interaction on the performance of crowdfunding projects, while investigating the motivational factor of goal achievement. Design/methodology/approach From February to August 2016, we collected panel data on 154 crowdfunding projects, which completed fundraising successfully on Tumblbug, a reward-based crowdfunding platform in Korea. In this study, we examine the roles of information-based social interaction (e.g., sharing information on a crowdfunding project) and behavior-based social interaction (e.g., following other investors' behavior) on successful crowdfunding. Additionally, we investigate whether the motivation of goal achievement moderates the relationship between social interaction and performance of crowdfunding projects or not. Findings We find that the number of times a crowdfunding project is shared has a positive influence on its performance, as does the number of project backers. Furthermore, we confirm that goal achievement motivation moderates the effects of information- and behavior-based social interaction on the performance of crowdfunding projects.

• The Journal of the Korea Contents Association
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• v.13 no.12
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• pp.81-91
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• 2013

Social Media has been vitalized according to development of technology, it make the crowd-funding which have a form of new donation culture. The crowd-funding has been known as form that is supported for getting investments of ongoing or new project by much public in area of cultural art. Nowadays it receive attention from the movie content production. There are so many successful case such as , in abroad while it is hard to find distinct case in Korea' the movie content production market. Since the movie <26 years> informed public of 'the crowd-funding', recently was successfully complete first and second fund-raising and third fund-raising is in progress. It is upraised as a representative successful case.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.1
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• pp.97-105
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• 2014

This study attempts to review the theories and related literatures on crowd funding and build the framework to understand the core concepts of crowd funding. In addition, I explore the applicability of crowd funding platforms for start-ups. For this purpose, I analyze the framework based on the life cycles of projects on crowd funding with the components of stake-holders. Furthermore, I review the results of previous outstanding literature on pros and cons of crowd funding to identify the applicability of crowd funding for start-ups. The results show that the use of crowd funding platform alleviates the risks involved with the information goods which occupy major portion of the projects listed on crowd funding have unique cost structure with high fixed cost and very low variable cost. Consequently, crowd funding is identified as a platform for start-ups of information goods by leveraging the wisdom of crowd. However, crowd funding may not work as an effective platform for start-ups if group thinking emerges. The study provides an implication that it provides a framework for understanding crowd funding and its applicability for start-ups, which can support government's policy for creative economy. Additional empirical research analyzing the data on the projects listed on crowd funding platforms in Korea will be performed in the succeeding study.

• The Journal of the Korea Contents Association
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• v.14 no.6
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• pp.54-62
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• 2014

Crowdfunding, a way of raising small size investments or donations from numerous individuals, mostly through internet to fund a project, has attracted global interests. The growth of the social network platform has made crowdfunding easier especially for those in the arts and culture sector. Despite the growth of such vehicle, there has been not much empirical research on the subject. We investigated the relationships between the information in the web sites and its contribution to the success in fundraising. We have sampled 161 projects that were uploaded on Tumblbug.com and studied the type of information that lead to a successful fund raise. As a result, we fould that the contents characteristics including motion-pictures, images, and lengthy texts have positive impacts on the success of fundraising. Fundraising rewards did not show any impacts.

• Journal of Intelligence and Information Systems
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• v.24 no.3
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• pp.45-66
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• 2018

Crowdfunding has become more popular than angel funding for fundraising by venture companies. Identification of success factors may be useful for fundraisers and investors to make decisions related to crowdfunding projects and predict a priori whether they will be successful or not. Recent studies have suggested several numeric factors, such as project goals and the number of associated SNS, studying how these affect the success of crowdfunding campaigns. However, prediction of the success of crowdfunding campaigns via non-numeric and unstructured data is not yet possible, especially through analysis of structural characteristics of documents introducing projects in need of funding. Analysis of these documents is promising because they are open and inexpensive to obtain. We propose a novel method to predict the success of a crowdfunding project based on the introductory text. To test the performance of the proposed method, in our study, texts related to 1,980 actual crowdfunding projects were collected and empirically analyzed. From the text data set, the following details about the projects were collected: category, number of replies, funding goal, fundraising method, reward, number of SNS followers, number of images and videos, and miscellaneous numeric data. These factors were identified as significant input features to be used in classification algorithms. The results suggest that the proposed method outperforms other recently proposed, non-text-based methods in terms of accuracy, F-score, and elapsed time.

• The Journal of the Convergence on Culture Technology
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• v.7 no.4
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• pp.397-404
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• 2021

The web-based crowdfunding platform provides small-cap companies the opportunity to reduce financial risks and to reliably produce new products through pre-orders. Meanwhile, crowdfunding projects are also helping companies as a channel to test new products before mass production. Despite these advantages, from the point of view of businesses and consumers, it is true that web-based crowdfunding platforms have limitations in the retail environment. For example, the limited social elements of a web-based platform are somewhat in conflict with the basic characteristics of crowdfunding projects - which inevitably demand high social influences for the success. As such, understanding the mechanisms of social factors of crowdfunding platforms from the consumers' perspective is important. Therefore, in this study, we empirically tested the effect of social factors of crowdfunding platform on consumer participation and evaluation. Based on the Social Influence Theory and Social Presence Theory, we developed a conceptual framework where the social group size and social presence of other backers were the independent variables and the purchaser's intention to participate as the dependent variable. In the results, the size of the social group size and the perceived social presence have a significant positive effect on purchaser's participation intent. In addition, the social presence had a greater influence on the purchaser's intention to participate than the size of the sponsor's social group. We believe that our findings contribute to the extant literature by empirically demonstrating the valid effect of social factors of crowdfunding platforms on consumer evaluations.

• Proceedings of the Korean Institute of Navigation and Port Research Conference
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• 2021.11a
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• pp.164-166
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• 2021

크라우드 펀딩 방식을 통한, 해양 산업/교육 분야, 특화된 사업을 위한 플랫폼으로써 해양분야에서 특화된 사업 개척하기 위한 시스템이다. RND 공동 개발, 투자자 유치를 공동 목표하고 (연결/소통)제안자와 참여자간의 연결 및 소통 플랫폼, (발굴/지원) 아이디어 발굴과 사업화를 위한 지원 플랫폼, (교육/협력) 창업을 위한 교육 및 기술개발 협력 플랫폼이용하여 스마트취업·창업을 위한 해양크라우드 펀딩 플랫폼을 활용할수 있게 시스템을 제공한다.