Crowdfunding: the moderating role of the funding goal on factors influencing project success

dc.contributor.authorPinkow, Felix
dc.contributor.authorEmmerich, Philip
dc.date.accessioned2020-06-30T09:44:32Z
dc.date.available2020-06-30T09:44:32Z
dc.date.issued2020
dc.description.abstractPurpose: The factors determining the success of crowdfunding projects is one of the central aspects for crowdfunding researchers. Most quantitative approaches recognize the amount of funds targeted as an important control. However, little is known about the impact of the funding goal on other factors that impact crowdfunding success. We hypothesize that the effect of crowdfunding success factors might vary dependent on funding goal level. Design/methodology/approach: A dataset of 338 crowdfunding projects on the German crowdfunding platform StartNext, with a vast majority of projects founded in Germany and a few projects from international European founders, 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, number of project supporters and the average contribution per supporter and control whether the effect of independent variables such as comments, updates and social media depend on different funding goals. Findings: Our study indicates that the impact of the investigated success factors in fact strongly depends on the goal sizes of crowdfunding projects. By grouping projects into clusters of varying funding goal sizes, we find that the impact of individual success factors changes and that the funding goal plays a moderating role for factors impacting project success. Research/practical implications: These results help both researchers and future entrepreneurs to better understand supporter behaviour. First, we suggest researchers to include the projects’ funding goals as moderators in most cases especially when assessing success factors for crowdfunding projects. Second, future entrepreneurs should be aware that factors influencing the success of a crowdfunding project strongly depend on the set funding goal. Depending on funding goal, some factors become less relevant whilst other factors’ importance is increasing. Originality/value: The funding goal of a crowdfunding project determines whether instruments used by project founders have an impact on their project’s success. Although the funding goal is a central issue in crowdfunding research, it is often used as independent variable, in contrast we suggest incorporating it as a moderator for other success factors.en
dc.identifier.isbn978-80-245-2378-1
dc.identifier.urihttps://depositonce.tu-berlin.de/handle/11303/11472
dc.identifier.urihttp://dx.doi.org/10.14279/depositonce-10354
dc.language.isoenen
dc.relation.ispartof10.18267/pr.2020.dvo.2378.0
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/en
dc.subject.ddc330 Wirtschaftde
dc.subject.othercrowdfundingen
dc.subject.othersuccess factorsen
dc.subject.otherreward-baseden
dc.subject.otherstart-upen
dc.subject.otherentrepreneurial financingen
dc.titleCrowdfunding: the moderating role of the funding goal on factors influencing project successen
dc.typeConference Objecten
dc.type.versionpublishedVersionen
dcterms.bibliographicCitation.editorDvouletý, Ondřej
dcterms.bibliographicCitation.editorLukeš, Martin
dcterms.bibliographicCitation.editorMísař, Jan
dcterms.bibliographicCitation.originalpublishernameUniversity of Economicsen
dcterms.bibliographicCitation.originalpublisherplacePragen
dcterms.bibliographicCitation.pageend520en
dcterms.bibliographicCitation.pagestart506en
dcterms.bibliographicCitation.proceedingstitleProceedings of the 8th International Conference Innovation Management, Entrepreneurship and Sustainabilityen
tub.accessrights.dnbfreeen
tub.affiliationFak. 7 Wirtschaft und Management::Inst. Technologie und Management (ITM)::FG Technologie- und Innovationsmanagementde
tub.affiliation.facultyFak. 7 Wirtschaft und Managementde
tub.affiliation.groupFG Technologie- und Innovationsmanagementde
tub.affiliation.instituteInst. Technologie und Management (ITM)de
tub.publisher.universityorinstitutionTechnische Universität Berlinen

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