The More Enthusiastic, the Better? Unveiling a Negative Pathway From Entrepreneurs’ Displayed Enthusiasm to Funders’ Funding Intentions

Displaying enthusiasm (an emotional manifestation of passion) is a common practice for entrepreneurs to attract crowdfunding. However, we propose that funders may attribute an entrepreneur’s displayed enthusiasm to impression management motives, which can in turn reduce their funding intentions. Mor...

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Bibliographic Details
Published in:Entrepreneurship theory and practice 2023-07, Vol.47 (4), p.1356-1388
Main Authors: Jiang, Lin, Yin, Dezhi, Liu, Dong, Johnson, Richard
Format: Article
Language:English
Subjects:
Crowdfunding
Entrepreneurial finance
Entrepreneurs
Entrepreneurship
Impression management
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Summary:Displaying enthusiasm (an emotional manifestation of passion) is a common practice for entrepreneurs to attract crowdfunding. However, we propose that funders may attribute an entrepreneur’s displayed enthusiasm to impression management motives, which can in turn reduce their funding intentions. Moreover, this negative pathway is more likely to occur when the entrepreneur is perceived to have lower domain expertise. We found consistent support for these hypotheses from a survey and an experiment. Our findings suggest that displaying enthusiasm may not always be effective for entrepreneurs because there are both positive and negative pathways underlying the influence of displayed enthusiasm on funders.
ISSN:1042-2587
1540-6520
DOI:10.1177/10422587221076391