Deriving Execution Effectiveness of Crowdfunding Projects from the Fundraiser Network

Reward-based crowdfunding has become a popular fundraising marketspace for entrepreneurs. However, few studies take a process perspective and examine how fundraiser network influences the execution effectiveness of crowdfunding projects. Collecting the funding activities of all fundraisers on Kickst...

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Bibliographic Details
Published in:Journal of management information systems 2022-01, Vol.39 (1), p.276-301
Main Authors: Kao, Ta-Wei (Daniel), Hsiao, Shih-Hui (Steven), Su, Hung-Chung, Ku, Chih-Hao (Justin)
Format: Article
Language:English
Subjects:
Access
Campaigns
Crowdfunding
crowdfunding effectiveness
Endogenous
Entrepreneurs
Fund raising
Funding
fundraiser network
Morality
Reciprocity
reward-based crowdfunding
social network
stochastic frontier analysis
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Summary:Reward-based crowdfunding has become a popular fundraising marketspace for entrepreneurs. However, few studies take a process perspective and examine how fundraiser network influences the execution effectiveness of crowdfunding projects. Collecting the funding activities of all fundraisers on Kickstarter in 2017, we construct a fundraiser network and examine the effects of fundraiser network structural characteristics on project execution effectiveness. Employing endogenous stochastic frontier analysis, we show that reciprocity and accessibility in the fundraiser network increase project execution effectiveness. We also demonstrate that gaining network status by virtue of being an authoritative figure in the fundraiser network increases project execution effectiveness. In sum, our study identifies the effects of the fundraiser network characteristics on project execution effectiveness and introduces a process perspective for evaluating crowdfunding campaigns.
ISSN:0742-1222
1557-928X
DOI:10.1080/07421222.2021.2023404