• Journal of Distribution Science
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• v.21 no.1
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• pp.33-43
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• 2023

Purpose: The present study demonstrates the netnography technique to explore and understand crowds' perceptions on the donation distribution by charitable crowdfunding platform official social media, Facebook. Research design, data and methodology: This paper conducts a netnography design to examine the perceptions of online communities on four prominent charitable crowdfunding platforms' Facebook. A total of 93 comments are studied by collecting and analyzing their comments thematically. Results: This study illustrates two main themes which are 'Recommended Review' and 'Non-Recommended Review'. 'Recommended Review' can be explained into six sub-themes which are 'Role of Religion', 'Encouragement to Donate', 'Platform Reliability', 'Volunteering Value', 'Platform Support', and 'Donation Convenience'. While 'Non-Recommended Review' reveals that 'Rejected Donation Amounts', 'Rejection of Advertisements', and 'Review by Authorities'. Conclusion: Online community comments play an important role in providing input to the experience of donating through charitable crowdfunding. The crowdfunding platform can make a benchmark for the services offered. The comments are needed to be given attention by maintaining the interaction between the platform and donors to recruit new donors and maintain existing donors. This study provides better understanding on online community perception towards charitable crowdfunding platforms. This study also contributes the discussion on charitable crowdfunding and online marketing literatures.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.16 no.3
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• pp.1006-1027
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• 2022

In the crowdfunding market, various crowdfunding platforms can offer founders the possibilities to collect funding and launch someone's next campaign, project or events. Especially, healthcare crowdfunding is a field that is growing rapidly on health-related problems based on online platforms. One of the largest platforms, GoFundMe, has raised US$ 5 billion since 2010. Unfortunately, while providing crucial help to care for many people, it is also increasing risk of fraud. Using the largest platform of crowdfunding market, GoFundMe, we conduct an exhaustive search of detection on fraud from October 2016 to September 2019. Data sets are based on 6 main types of medical focused crowdfunding campaigns or events, such as cancer, in vitro fertilization (IVF), leukemia, health insurance, lymphoma and, surgery type. This study evaluated a detect of fraud process to identify fraud from non-fraud healthcare crowdfunding campaigns using various machine learning technics.

• 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.

• Journal of the Korea Society of Computer and Information
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• v.28 no.7
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• pp.155-164
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• 2023

In this paper, we examine the influence of Environmental, Social, and Governance (ESG)-related content on the success of online crowdfunding proposals. Along with the increasing significance of ESG standards in business, investment proposals incorporating ESG concepts are now commonplace. Due to the ESG trend, conventional wisdom holds that the majority of proposals with ESG concepts will have a higher rate of success. We investigate by analyzing over 9000 online business presentations found in a Kickstarter dataset to determine which characteristics of these proposals led to increased investment. We first utilized lexicon-based measurement and Feature Engineering to determine the relationship between environment and society scores and financial indicators. Next, Logistic Regression is utilized to determine the effect of including environmental and social terms in a project's description on its ability to obtain funding. Contrary to popular belief, our research found that microentrepreneurs were less likely to succeed with proposals that focused on ESG issues. Our research will generate new opportunities for research in the disciplines of information science and crowdfunding by shedding new light on the environment of online micro-entrepreneurship.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.9 no.4
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• pp.1-12
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• 2014

It is essential factor for business operation to raise funds effectively. However, in Korea, many start-ups and small businesses have difficulties in fund-raising. In recent years, crowdfunding, a new method for funding a project of individuals or organizations by raising monetary contributions from a large number of people, has been growing up simultaneously with diffusion of social media. Crowdfunding is on early stage in Korea, and the majority of projects are focused on cultural or art categories. There is high proportion of projects that have social value in start-up sector. Crowdfunding in Korea has great potential because success rate of it is much higher than its of advanced countries, although market size is much smaller than them. The purpose of this paper is to propose success strategies of crowdfunding for start-up through case study. 5 crowdfunding platforms of Korea and Kickstarter, the platform of United States were investigated. Then we checked the figures related to the operation of the whole Korean projects on start-up. Finally, we made comparison between the cases of success and failure by analyzing 8 project characteristics. The study shows that it were the differences in trustworthiness and activeness of project creator, value of reward and efforts for interactivity that have great effects on success of the project. Whereas there was no significant influence of societal contribution and sponsor engagement. The thesis provides success strategies of crowdfunding for start-up as follows. Firstly, creator of the project should make support base by enthusiastic activites before launching funding project. Secondly, there should be contents that can easily show the process of business development in the project information. Thirdly, there must be appropriate design of rewards for each amounts of support money. Finally, efforts for interactivity, such as frequent updates, response for comments and SNS posting, should be followed after the launch of the project.

• Information Systems Review
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• v.25 no.4
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• pp.265-290
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• 2023

Even though crowdfunding has become popular as a novel means of raising capital for early-stage ventures and startups through an Internet-based platform, it is unclear how a funder's characteristics, such as motivation and ability, influence their information processing and pledging decision. This study aims to propose and test a research model for determining the relationships between a funder's personal attributes, information processing style, and funding intention. To test the research model, we collected data from 139 Amazon Mechanical Turk participants through an online questionnaire survey. The findings indicate that a funder's self-efficacy has a positive effect on heuristic processing but has no significant effect on systematic processing. By contrast, a funder's personal relevance positively influences both systematic and heuristic processing. Furthermore, heuristic processing, as well as perceived value and perceived risk, influence pledging intentions positively. Our findings potentially contribute to improving the design of crowdfunding platforms to better support a funder's information needs. Based on our findings, we discuss the implications of our study as well as the directions for future research.