Narcissism, Machiavellianism and Psychopathy: How Do Displayed Entrepreneurs’ Personality Dark Traits Influence Crowdfunding Success?

Abstract

Crowdfunding campaigns reflect the personality traits of the entrepreneur, influencing the chances of a successful fundraising. In this study, the authors focus on three different entrepreneurs’ personality dark traits: narcissism, Machiavellianism and psychopathy. Through a text analysis of 338 equity-crowdfunding campaigns in the UK, the authors identified narcissistic expressions used by entrepreneurs in their pitches, and their impact on funding success. The authors found an inverted U-shape relationship between entrepreneurs’ narcissism and the crowdfunding success. On the other hand, entrepreneurs’ psychopathy has a negative linear relationship with crowdfunding success. This study contributes to the entrepreneurship literature, highlighting the importance of displayed entrepreneurs’ personality traits in engaging with crowd investors.

Citation

Leonelli, S., Pietro, F.D. and Masciarelli, F. (2020), "Narcissism, Machiavellianism and Psychopathy: How Do Displayed Entrepreneurs’ Personality Dark Traits Influence Crowdfunding Success?", Caputo, A. and Pellegrini, M.M. (Ed.) The Entrepreneurial Behaviour: Unveiling the cognitive and emotional aspect of entrepreneurship (Entrepreneurial Behaviour Series), Emerald Publishing Limited, Leeds, pp. 41-65. https://doi.org/10.1108/978-1-78973-507-920201007