The Experts below are selected from a list of 15726 Experts worldwide ranked by ideXlab platform
Alexander Brem - One of the best experts on this subject based on the ideXlab platform.
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INCREASING Crowdfunding SUCCESS THROUGH SOCIAL MEDIA: THE IMPORTANCE OF REACH AND UTILISATION IN REWARD-BASED Crowdfunding
International Journal of Innovation Management, 2019Co-Authors: Thomas Clauss, Sascha Kraus, Thomas Niemand, Patrick Schnetzer, Alexander BremAbstract:The rising use of Crowdfunding makes it important for project initiators to know how they can increase the likelihood of success of their Crowdfunding campaign. The effects of using social media, although relatively easy to do via most Crowdfunding platforms, have not yet been analysed in greater detail in scientific research. We address this research gap by investigating the effects of social media reach and utilisation on measures of reward-based Crowdfunding success, based on an analysis of 230 projects from the Crowdfunding platform wemakeit. Our results show that social media reach via the number of social media accounts that belong to the project and the number of accounts that belong to the project initiator increases the number of investors and the percentage of the funding goal that is obtained. Furthermore, social media reach via the size of the projects’ and the individuals’ social networks has not been found to be important for Crowdfunding success. Social media utilisation in regard to the amount of content shared is found to be positively associated with Crowdfunding success.
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Strategies for reward-based Crowdfunding campaigns
Journal of Innovation & Knowledge, 2016Co-Authors: Sascha Kraus, Chris Richter, Alexander Brem, Cheng-feng Cheng, Man-ling ChangAbstract:Abstract Crowdfunding represents an alternative way of funding entrepreneurial ventures – and is attracting a high amount of interest in research as well as practice. Against this background, this paper analyzes reward-based Crowdfunding campaign strategies and their communication tools. To do this, 446 Crowdfunding projects were gathered and empirically analyzed. Three different paths of successful Crowdfunding projects could be identified and are described in detail. Practical implications of Crowdfunding strategies are derived, and are dependent on the required sales effort and the project added value. The terms communicator, networker and self-runner are created for this Crowdfunding strategy and filled with practical examples. This paper contributes to the literature in different ways: first, it sheds more light on the developing concept of Crowdfunding, with an overview of current academic discussions on Crowdfunding. Furthermore, the analysis of success factors for Crowdfunding initiatives adds to an emerging area of research and allows entrepreneurs to extract best practice examples for increasing the probability of successful Crowdfunding projects under consideration of the key influencing factors of communication.
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A conceptualized investment model of Crowdfunding
Venture Capital, 2013Co-Authors: Alan Tomczak, Alexander BremAbstract:Crowdfunding is growing in popularity as a new form of both investment opportunity and source of venture capital. This article takes a view on whether Crowdfunding is a replacement or an addition to traditional seed capital sources in the early stages of a new venture. With access to angel investment decreasing since the financial crisis of 2008, Crowdfunding is of great importance to start-ups seeking starting capital. However, little effort has been made to define the investment model of Crowdfunding with both crowdfunder and crowdfundee in mind. Drawing on an in-depth review of current literature on Crowdfunding, this article creates an investment model of Crowdfunding with various reward models available to investor and investee in mind. This article provides an extensive survey of the environment of Crowdfunding based on current literature. It offers a jumping off point and a thorough literature review for researchers of Crowdfunding, providing a detailed examination of the current landscape of crowd...
Thomas Clauss - One of the best experts on this subject based on the ideXlab platform.
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INCREASING Crowdfunding SUCCESS THROUGH SOCIAL MEDIA: THE IMPORTANCE OF REACH AND UTILISATION IN REWARD-BASED Crowdfunding
International Journal of Innovation Management, 2019Co-Authors: Thomas Clauss, Sascha Kraus, Thomas Niemand, Patrick Schnetzer, Alexander BremAbstract:The rising use of Crowdfunding makes it important for project initiators to know how they can increase the likelihood of success of their Crowdfunding campaign. The effects of using social media, although relatively easy to do via most Crowdfunding platforms, have not yet been analysed in greater detail in scientific research. We address this research gap by investigating the effects of social media reach and utilisation on measures of reward-based Crowdfunding success, based on an analysis of 230 projects from the Crowdfunding platform wemakeit. Our results show that social media reach via the number of social media accounts that belong to the project and the number of accounts that belong to the project initiator increases the number of investors and the percentage of the funding goal that is obtained. Furthermore, social media reach via the size of the projects’ and the individuals’ social networks has not been found to be important for Crowdfunding success. Social media utilisation in regard to the amount of content shared is found to be positively associated with Crowdfunding success.
Jungpil Hahn - One of the best experts on this subject based on the ideXlab platform.
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How Rewarding Are Your Rewards? A Value-Based View of Crowdfunding Rewards and Crowdfunding Performance:
Entrepreneurship Theory and Practice, 2020Co-Authors: Han Jiang, Zhiyi Wang, Lusi Yang, Jia Shen, Jungpil HahnAbstract:In this study, we integrate the insights of consumption value theory and the Crowdfunding literature to develop a value-based view of Crowdfunding rewards to systematically theorize and synthesize the underlying mechanisms through which the various rewards offered by Crowdfunding projects can incentivize crowdfunders’ backing decisions. Identifying three basic value dimensions carried by different Crowdfunding rewards, utilitarian value, socioemotional value, and participatory value, our value-based view posits that these three values satisfy crowdfunders’ different needs and thus motivate them to back a project on distinct grounds and considerations. Through this view, the performance of a Crowdfunding project can thus be shaped by the joint effects of the three values delivered by all of its offered rewards. Given their distinct incentivizing mechanisms, we further posit that socioemotional value and participatory value will potentially substitute the effects of utilitarian value, thus leading to an inverted U-shaped effect of the combination of the three values on Crowdfunding performance. Evidence from a novel multimethod design that integrates field data, topic modeling, and a survey with Crowdfunding professionals largely supports our theoretical predictions. Our theoretical framework and empirical findings have important implications for both theory and practice.
Philip Emmerich - One of the best experts on this subject based on the ideXlab platform.
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Re-Examining Crowdfunding Success: How the Crowdfunding Goal Moderates the Relationship of Success Factors and Crowdfunding Performance
Central European Business Review, 2021Co-Authors: Felix Pinkow, Philip EmmerichAbstract:The factors determining the success of Crowdfunding projects is one of the central issues for Crowdfunding researchers. Quantitative approaches recognise the number of funds targeted as an important control variable. However, little is known about the impact of the funding goal on other factors that impact Crowdfunding success. We hypothesise that the effect of Crowdfunding success factors varies contingent on the funding goal level. A dataset of 338 Crowdfunding projects from the largest German Crowdfunding platform StartNext in the years 2015 to 2016 is analysed by conducting regression analyses controlling for varying funding goal sizes. We use the dependent variables success, the degree of success and the number of project supporters and control whether the effect of independent variables such as comments, updates and social media depend on different funding goals. Our study indicates that the impact of the investigated success factors, in fact, strongly depends on the funding goal levels of Crowdfunding projects. By grouping projects into clusters of varying funding goals, we find that the impact of individual success factors changes and that the funding goal plays a moderating role for factors impacting project success. Implications for Central European audience: Many Crowdfunding studies focus on the most popular US-based platforms like Kickstarter or Indiegogo. We examined projects on the largest German reward-based Crowdfunding platform StartNext. These results help both researchers and future entrepreneurs in Europe to better understand supporter behaviour. We suggest that future entrepreneurs should be aware that factors influencing the success of a Crowdfunding project strongly depend on the set funding goal, which should be adequately considered in future Crowdfunding research.
Liang Zhao - One of the best experts on this subject based on the ideXlab platform.
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Reward-Based Crowdfunding Research and Practice
Advances in Crowdfunding, 2020Co-Authors: Liang Zhao, Sunghan RyuAbstract:This chapter offers a review of reward-based Crowdfunding. Based on a concrete framework, this chapter extensively explains the definition, mechanisms, and unique aspects of reward-based Crowdfunding. To better understand the status of reward-based Crowdfunding from a global perspective, the development and regional characteristics of it in different Crowdfunding markets are presented and discussed in this chapter. In addition, through a comprehensive literature review of key reward-based Crowdfunding research, two main research streams of reward-based Crowdfunding (success drivers and contributor behaviour) are summarized. Lastly, this chapter also sheds light on the implications of reward-based Crowdfunding for practice and research, as well as mentions its potential contributions and limitations.
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Crowdfunding in China: Turmoil of Global Leadership
Advances in Crowdfunding, 2020Co-Authors: Liang ZhaoAbstract:This chapter offers a comprehensive review and explanation of Crowdfunding in China. It first extensively describes the status of Crowdfunding in China by presenting the market facts, insights, and current regulations of the four main Crowdfunding models (reward-based, equity-based, loan-based, and donation-based) respectively. Next, through a detailed up-to-date literature review of the key literature of Chinese Crowdfunding, three main research streams are summarized and discussed covering success drivers, comparative studies of Chinese versus other contexts of Crowdfunding practice, and applications of Crowdfunding for creative and sustainability projects. Finally, both practical and research implications are presented together with the challenges and future research directions on Crowdfunding in China.
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The Future of Crowdfunding Research and Practice
Advances in Crowdfunding, 2020Co-Authors: Rotem Shneor, Bjørn-tore Flåten, Liang ZhaoAbstract:This chapter critically reflects on current Crowdfunding research and practice while highlighting eight dilemmas that are expected to shape the future of Crowdfunding. Each dilemma is critically discussed and is followed by relevant suggestions for future research. These dilemmas include: (1) the balance between idealism and pragmatism; (2) the extent of cooperation between Crowdfunding platforms and traditional financial institutions; (3) measurement of Crowdfunding success and performance in financial and socio-economic terms; (4) the balance between quantity and quality in campaigns approved for publication by platforms; (5) domestic versus international growth of Crowdfunding platforms; (6) manoeuvring between facilitation of collective decisions as crowd wisdom while avoiding crowd madness, as well as intentional and unintentional harmful crowd behaviour; (7) the focus of platforms’ technological developments in terms of efficiency gains versus community support; and (8) the balance between informing the public and constraining our understanding of Crowdfunding in educational efforts.
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Advances in Crowdfunding : Research and Practice
2020Co-Authors: Rotem Shneor, Liang Zhao, Bjørn-tore FlåtenAbstract:This open access book presents a comprehensive and up-to-date collection of knowledge on the state of Crowdfunding research and practice. It considers Crowdfunding models and their different manifestations across a variety of geographies and sectors, and explores the perspectives of fundraisers, backers, platforms, and regulators. Gathering insights from a wide range of influential researchers in the field, the book balances concepts, theory, and case studies. Going beyond previous research on Crowdfunding, the contributors also investigate issues of community, sustainability, education, and ethics. A vital resource for anyone researching Crowdfunding, this book offers readers a deep understanding of the characteristics, business models, user-relations, and behavioural patterns of Crowdfunding.