Crowdfunding: exploring the factors associated with the users' intention to finance a project online Online publication date: Thu, 09-Mar-2017
by Prodromos Kontogiannidis; Georgios Theriou; Lazaros Sarigiannidis
International Journal of Web Based Communities (IJWBC), Vol. 13, No. 1, 2017
Abstract: This study seeks to empirically examine the factors that affect the intention of users to participate financially in crowdfunding projects. A structured questionnaire was designed and distributed to 339 individuals that had already participated in a crowdfunding process. Results indicate the factors which affect the intention of consumers/users to financially participate in crowdfunding projects include intrinsic and extrinsic motivations, the characteristics of the project initiator and some platform characteristics. The research findings clearly state that crowdfunding platforms should focus primarily on brand credibility, brand image, perceived risk reduction, gamefication techniques, implementation and social network usage to promote the entrepreneurial ideas of the project's initiators. With regard to project initiators, the findings indicate that the promoting video, the investor's perception on the entrepreneurs' integrity and claims related to their entrepreneurial idea, as well as specific rewards are considered crucial factors for the success of a campaign.
Online publication date: Thu, 09-Mar-2017
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