Start-ups often face the challenge of a shortage of capital, the so-called funding gap, which can be overcome by raising small amounts of money from a large number of individuals. As crowdfunding suffers from a continuous rise in failure rates, the aim of this article is to contribute to the research concerning success factors in reward-based crowdfunding campaigns by focusing on signaling theory. Based on data retrieved from the crowdfunding platform Kickstarter, our results indicate that social ties, investment preparation and presentation, the supply of multiple rewards as well as endeavors to communicate and interact with the crowd positively influence the probability of success of a reward-based crowdfunding campaign. In contrast, the funding goal, a campaign’s runtime and the estimated time of delivery for the rewards have a negative impact on the successful completion of a campaign.
%0 Journal Article
%1 ls_leimeister
%A Kunz, Michael Marcin
%A Bretschneider, Ulrich
%A Erler, Max
%A Leimeister, Jan Marco
%D 2017
%J Electronic Commerce Research
%K CrowdfundingCrowdfunding Data_analysis E-Commerce E-business Reward-based Reward-based_Crowdfunding Signaling Success_factors itegpub itimpub pub_jml pub_mgi pub_ubr
%N 3
%P 425-461
%R 10.1007/s10660-016-9249-0
%T An Empirical Investigation of Signaling in Reward-Based Crowdfunding
%U http://pubs.wi-kassel.de/wp-content/uploads/2017/06/JML_639-1.pdf
%V 17
%X Start-ups often face the challenge of a shortage of capital, the so-called funding gap, which can be overcome by raising small amounts of money from a large number of individuals. As crowdfunding suffers from a continuous rise in failure rates, the aim of this article is to contribute to the research concerning success factors in reward-based crowdfunding campaigns by focusing on signaling theory. Based on data retrieved from the crowdfunding platform Kickstarter, our results indicate that social ties, investment preparation and presentation, the supply of multiple rewards as well as endeavors to communicate and interact with the crowd positively influence the probability of success of a reward-based crowdfunding campaign. In contrast, the funding goal, a campaign’s runtime and the estimated time of delivery for the rewards have a negative impact on the successful completion of a campaign.
@article{ls_leimeister,
abstract = {Start-ups often face the challenge of a shortage of capital, the so-called funding gap, which can be overcome by raising small amounts of money from a large number of individuals. As crowdfunding suffers from a continuous rise in failure rates, the aim of this article is to contribute to the research concerning success factors in reward-based crowdfunding campaigns by focusing on signaling theory. Based on data retrieved from the crowdfunding platform Kickstarter, our results indicate that social ties, investment preparation and presentation, the supply of multiple rewards as well as endeavors to communicate and interact with the crowd positively influence the probability of success of a reward-based crowdfunding campaign. In contrast, the funding goal, a campaign’s runtime and the estimated time of delivery for the rewards have a negative impact on the successful completion of a campaign.},
added-at = {2016-12-07T20:44:48.000+0100},
author = {Kunz, Michael Marcin and Bretschneider, Ulrich and Erler, Max and Leimeister, Jan Marco},
biburl = {https://www.bibsonomy.org/bibtex/2c505ab10d92dc43db1cc038e19fe988e/ls_leimeister},
doi = {10.1007/s10660-016-9249-0},
interhash = {136aa4b6c2ffef9786cd8e532c111d77},
intrahash = {c505ab10d92dc43db1cc038e19fe988e},
issn = {1389-5753},
journal = {Electronic Commerce Research},
keywords = {CrowdfundingCrowdfunding Data_analysis E-Commerce E-business Reward-based Reward-based_Crowdfunding Signaling Success_factors itegpub itimpub pub_jml pub_mgi pub_ubr},
language = {english},
month = sep,
number = 3,
pages = {425-461},
timestamp = {2021-01-28T18:17:06.000+0100},
title = {An Empirical Investigation of Signaling in Reward-Based Crowdfunding},
url = {http://pubs.wi-kassel.de/wp-content/uploads/2017/06/JML_639-1.pdf},
volume = 17,
year = 2017
}