Backer funding intention in reward-based crowdfunding: service-dominant logic and stimulus-organism-response perspectives
International Journal of Bank Marketing
ISSN: 0265-2323
Article publication date: 24 November 2022
Issue publication date: 17 March 2023
Abstract
Purpose
The new age of entrepreneurs recognizes crowdfunding as an innovative and effective means of obtaining funding from backers. However, attracting backers is challenging and related scholarly knowledge lacking. Therefore, this study investigates the diverse factors influencing backer funding intention in reward-based crowdfunding.
Design/methodology/approach
This study conducted an online survey of 401 registered backers from two reward-based crowdfunding platforms in Taiwan. Data were analyzed using covariance-based structural equation modeling.
Findings
Results show that entrepreneur activeness has a negative effect on perceived risk but positively, while entrepreneur activeness and platform interactivity have a positive effect on backer engagement and backer value creation. Although it had no significant impact on backer engagement, project novelty positively influenced backer value creation. Perceived risk had no influence on either backer engagement or backer value creation. Backer engagement positively influenced backer value creation and backer funding intention, with the former having a positive impact on the latter.
Originality/value
This study provides a multi-perceptual lens by proposing an integration of diverse factors such as entrepreneurial- (entrepreneur activeness), project- (project novelty and perceived risk) and platform-related characteristics (platform interactivity) as antecedents to backer funding intention. By integrating a service-dominant logic perspective into the stimulus-organism-response model, this study highlights the essence of value creation by perceiving backers as value co-creators.
Keywords
Acknowledgements
The authors would like to acknowledge the contribution of two anonymous reviewers by providing constructive comments and valuable suggestions.
Funding: The authors would like to declare this research did not receive any specific grant from funding agencies in the public, commercial, or not-for-profit sectors.
Citation
Wu, C.H.-J., Atmaja, F.T., Ko, Y.-C. and Guttena, R.K. (2023), "Backer funding intention in reward-based crowdfunding: service-dominant logic and stimulus-organism-response perspectives", International Journal of Bank Marketing, Vol. 41 No. 2, pp. 289-311. https://doi.org/10.1108/IJBM-03-2022-0127
Publisher
:Emerald Publishing Limited
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