• Journal of Distribution Science
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• v.18 no.10
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• pp.15-23
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• 2020

Purpose: Crowdfunding can be a complementary channel in which start-ups or small companies can obtain financial help and take advantage of exploiting the online potential. To activate crowdfunding, it is necessary to consider a consumer's empathic responses. This article examines the role of empathy in the crowdfunding channel platform. We adopted the identification-commitment model to prove the role of empathy. Research design, data, and methodology: Participants were asked to read the charitable crowdfunding campaign. More than 300 young adults completed an online questionnaire and we analyzed it with structural equation modeling (SEM). To find out the role of empathy, we postulate several models which use empathy variable for different purposes. Results: We conclude that empathy has the role of moderator in the identification-commitment model. This means the high empathic response helped the relationship between identification and commitment. However, low empathic response can negatively influence the process of identification to commitment. Conclusions: This study found that virtual empathy is positively related to crowdfunding participation if we can elevate empathy in the crowdfunding channel platform. The findings also show that we need to consider empathic response when we want to raise funds for specific projects such as protecting the natural environment.

• Journal of Information Technology Services
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• v.18 no.1
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• pp.13-26
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• 2019

This study analyzes the characteristics of lending-based crowdfunding of various crowdfunding models, identifies the factors affecting the use of the general public, and provides suggestions for the policies set by real estate crowdfunding businesses and related authorities. To analyze the service's adoption from a cognitive perspective, this study developed a new model that combined the Value-based Adoption Model (VAM), motivation theory, and a set of variables that take into account the characteristics of the real estate industry. For empirical analysis, survey was conducted from the general investors of real estate and valid 252 data were utilized by R 3.2.2. The results of this study showed that both government regulation and the perceived risk are hindering the perceived values and intention to use crowdfunding for real estate. In contrast, this research found that among the intrinsic motivation, enjoyment had a significant impact on the perceived value. In addition, it turned out that among the extrinsic motivation, market attractiveness, brand credibility, expected return, and safety and protection had significant impacts on the perceived value. Finally, it showed the perceived value of real estate crowdfunding had a positive impact on the intention to use.

• Human Ecology Research
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• v.61 no.3
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• pp.281-295
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• 2023

This study examined consumer attitudes and intentions to participate in reward-based crowdfunding projects for fashion products. We focused on consumer innovation, price sensitivity, conformity, and consumer values as factors that might influence such attitudes and intentions. A survey was conducted with 228 individuals aged 18 years and older who are aware of or have had experience using crowdfunding. Respondents were asked to answer questions based on the example of actual fashion crowdfunding projects. To analyze the data, reliability tests, the generation of descriptive statistics, factor analysis, and multiple regression were performed using SPSS 25.0. The results revealed that consumer innovativeness, non-conforming tendency, and emotional, quality, social, and ethnical consumer values had a significant influence on attitudes, which in turn affected intentions to participate in crowdfunding. Consumer innovativeness, price sensitivity, emotional value, and social value also had a direct influence on intentions to participate. In addition to its academic contribution, this study has important marketing implications for project initiators striving to identify and understand consumers who are willing to participate in reward-based crowdfunding for fashion products.

• The Journal of Information Systems
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• v.26 no.1
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• pp.1-19
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• 2017

Purpose This study examines the roles of individual- and country-level social capital in entrepreneurial activities from the context of crowdfunding. Design/methodology/approach Two primary sources were used for data collection. From Kickstarter, the largest U.S.-based crowdfunding platform, this study obtained 15,716 crowdfunding projects and individual-level social capital. For country-level social capital, the social capital index from the 2016 Legatum Prosperity Index was utilized. By matching individual- and country-level social capital for each crowdfunding project, this research estimates the role of social capital in entrepreneurial activities at the individual and country level using the Poisson regression and the negative binomial regression. Findings Individual-level social capital measured by the number of Facebook friends, the number of other crowdfunding projects that a crowdfunding project founder invested in, and the word count of the description of a crowdfunding project are positively associated with the number of crowdfunding projects created by founders. The country-level social capital measured by aggregated social capital index is also positively associated with the number of crowdfunding projects created by founders. Both individual- and country-level social capital have a positive impact on entrepreneurial activities in terms of the creation of new crowdfunding projects.

• 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.

• 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.

• Journal of the Korea Society of Computer and Information
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• v.23 no.3
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• pp.55-62
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• 2018

In this paper, we propose a model to detect crowdfunding scams, which have been reportedly occurring over the last several years, based on their project information and linguistic features. To this end, we first collect and analyze crowdfunding scam projects, and then reveal which specific project-related information and linguistic features are particularly useful in distinguishing scam projects from non-scams. Our proposed model built with the selected features and Random Forest machine learning algorithm can successfully detect scam campaigns with 84.46% accuracy.

• Soft Computing and Machine Intelligence
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• v.1 no.1
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• pp.24-30
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• 2021

The accelerated growth of the internet and the enormous amount of data availability has become the primary reason for machine learning applications for data analysis and, more specifically, pattern recognition and decision making. In this paper, we focused on the crowdfunding site Kickstarter and collected the comments in order to apply neural networks to classify the projects based on the sentiments of backers. The power of customer reviews and sentiment analysis has motivated us to apply this technique in crowdfunding to find timely indications and identify suspicious activities and mitigate the risk of money loss.

• Asia pacific journal of information systems
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• v.31 no.4
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• pp.575-581
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• 2021

In this opinion article, we review the current streams of the information systems (IS) literature on crowdfunding and discuss how the literature has contributed to expanding our understanding of crowdfunding. Reflecting on the review, we propose avenues for future research to expand the existing knowledge on this impactful topic for the benefit of researchers and practitioners.

• Journal of Digital Convergence
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• v.20 no.3
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• pp.251-264
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• 2022

The purpose of this study is to present factors and strategies for successful rewarded-crowdfunding of companies. For this, rewarded-crowdfunding based on the extended theory of planned behavior(E-TPB) by adding individual innovation and risk preference as extended variables, in addition to the basic variables of the theory of planned behavior(TPB), including attitude, subjective norm, and perceived behavior control. In addition, the moderating effect of rewarded-crowdfunding experience was confirmed. In addition, the moderating effect of the rewarded-crowdfunding experience was confirmed, and exploratory factor analysis and multiple regression analysis were conducted for questionnaires who were aware of the concept of rewarded-crowdfunding. As a result of testing the hypothesis, it was found that attitude, subjective norm, perceived behavioral control, and risk preference affect the intention to invest in rewarded-crowdfunding. Also, we could find that perceived behavior control and risk preference were moderately influenced by investor who had experience in rewarded-crowdfunding. Based on the research results, it has academic and practical value by presenting the direction of enhancing the success of rewarded-crowdfunding that companies can use as a way to raise funds and boost sales.