• The Journal of the Korea Contents Association
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• v.21 no.2
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• pp.1-14
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• 2021

Recently, crowdfunding platforms have received attention as one of the content investment platforms for the public. This research attempts to explore the influencing factors on the success of movie euqity crowdfunding project. We use 'number of texts', 'number of images', 'star influence power', 'IP-based movie project', 'movie production stage', 'box office prediction', 'investment capital ratio', 'amount of surplus available investment', 'profit calculation method' and 'minimum investment amount' as independent variables. And we examined how these factors affects the achievement rate of movie crowdfunding. As a result of multiple regression analysis, 'movie production stage', 'investment capital ratio', 'amount of surplus available investment' and 'profit calculation method' have a significant effect on the crowdfunding achievement rate. In addition, the results of this research can be used for reference when planning film crowdfunding projects.

• 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.

• Journal of Industrial Convergence
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• v.15 no.2
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• pp.45-56
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• 2017

The purpose of this study is to analyze the influence of the number of investors influencing the achievement rate of domestic securities type crowdfunding, to find out why the general investors need to participate and to suggest measures to increase the participation of general investors. The results of this study are as follows. First, the effect of the recruitment amount, the target amount, the recruitment period and the business training is confirmed as factors affecting the achievement rate of domestic securities type crowdfunding. And it was confirmed that the influence factors on achievement rate could have a greater effect as the number of general investors increased. Therefore, the government should make more effort to relax regulations on general investors, and the investor of capital should strengthen the public disclosure of KSM through the KSM market in order to recover the funds of general investors, Crowd funding will be able to attract enough funds.

• The Journal of Society for e-Business Studies
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• v.24 no.3
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• pp.35-51
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• 2019

The two main goals of this study are to derive independent factors affecting the success rate of crowdfunding and to empirically analyze the variation of independent factors' effects on the success of crowdfunding by industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). To identify the success factors of crowdfunding for invigoration and strategic utilization, first, several variables were refined after interviews with experts and platform operators with investment experiences in numerous crowdfunding projects. Then, independent factors affecting project involvement were categorized as follows: a characteristic of project, participant activity, and enterprise. Also, the results derived from the influence of independent variables on crowdfunding after moderating effects were driven. Selected independent factors in this study are as follows: crowdfunding period, target amount, visual contents, minimum account money, number of comments, number of SNS followers, level of interest, financial Statement disclosure, investment attraction, venture company, intellectual property rights disclosure, and business operation period. Selected moderating factors in this study are as follows: industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). In conclusion, a discussion of the academical and practical implications and a suggestion of directions for further research are explained.

• Information Systems Review
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• v.22 no.1
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• pp.125-146
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• 2020

With the penetration of the Internet and e-commerce, a 'crowdfunding' has emerged as a new way of financing. Crowdfunding has the advantage for a person to able to a simple way to finance her/his an innovative product or service from crowd. However, the success rate for crowdfunding projects is less than half. In this study, we introduce social exchange theory to explore the impact of trust and perceived psychological risk on the intention to participate in a crowdfunding website. Different from previous studies that have focused on a crowdfunding creator, we consider two different perspectives of a project creator and a project supporter. In addition, we compare perceptions of crowdfunding in different cultural contexts by conducting survey in two different countries Korea and Austria. Result shows that trust in recommendation and trust in website have different impacts on the intention to participate from two different perspectives. It also shows that perception of the quality and transparency of information provided by crowdfunding website has greater impact on trust in Korea than that in Austria. In case of perception of psychological risk, it has a negative impact on Austria's intention to create or support a project. On the other hand, it has relatively small impact on the intention to support and does not affect the intention to create a project in Korea.

• The Journal of Society for e-Business Studies
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• v.25 no.1
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• pp.65-82
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• 2020

Start-ups often use crowdfunding platforms such as Wadiz to get financing from corporate investors and general public. These platforms include functions to increase participant activity through the number of comments, interest and online word-of-mouth. This study aims to elucidate how these functions related to a participant activity exhibit mediating effects on a success of crowdfunding and an achievement rate of targeted investment amount. To this end, the individual variables such as progress period, target amount, venture company, experience of attracting investment, possession of intellectual property rights, a career of the representative and an award experience of the representative were classified into the project characteristics, the company characteristics and the representative characteristics through not only previous studies but also interviews with investment professionals and platform operators. Afterwards, this study went through an empirical verification process using a structural equation model that has both crowdfunding performance and participant activity, which is the independent and mediating factors of three perspectives, as well as the dependent variables. In other words, this study analyzes how the characteristics of three perspectives affect the participant activity and how the participant activity had the mediating effects on the crowdfunding performance. In addition, it derives how the analysis results mentioned above vary according to business types (internet services, culture/art, manufacturing/distribution) and investment styles (stock type and bond type). It is expected that this study will help not only in deriving the factors affecting the performance of an investment type crowdfunding but also in preparing the measures to increase a participant activity.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.12 no.2
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• pp.55-63
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• 2017

Crowdfunding recently receives a great deal of attentions as an alternative finance for small and medium-sized enterprises or business ventures that suffer from financial constraints. Crowdfunding is a new form of platform that enables a large number of people to invest a small amount of money for promising new business items directly. We analyzed the effect of type, period, method of projects on crowdfunding outcomes. We measure the outcome in terms of the ratio of the collected to the target amount. We collected data from three Korean crowdfunding platform companies, and the data consisted of 239 projects from 2012 to 2014. We use both logit and ordinary least square method for evaluation. Generally, the amount of target itself has no effect on the outcome. Equity crowdfunding shows higher success rate and better outcome than rewards crowdfunding. All or Nothing method leads to the higher ratio of the collected to the target amount than Keep It All. There is an inverted U-shape between the number of investors and the ratio of the collected to the target amount. Finally, the ratio of the collected to the target amount is decreasing in a crowdfunding period.