Dissertation
Crowdfunding – Exploring the Role of Firm and Platform Attributes on Funding and Firm Success
Washington State University
Doctor of Philosophy (PhD), Washington State University
2020
DOI:
https://doi.org/10.7273/000005522
Abstract
Crowdfunding has evolved at a rapid pace over the last decade and has established itself as an alternate source of finance. Though young and nascent venture are increasingly using crowdfunding to finance their ventures, majority of them fail to raise the required funds. Research has started to examine antecedents of successful crowdfunding campaign, yet there is gap in our understanding of why some campaigns succeed but others fail to raise required finance. More importantly, we know very little about how crowdfunded ventures are utilizing raised funds to create value from themselves and their stakeholders. I examine these two important and timely questions in my dissertations. First, I expand the crowdfunding research on determinants of funding success to include firm and platform attributes. For firm attribute, I examine the role of a firm’s entrepreneurial orientation on campaign’s funding success. For platform attribute, I focus on the resource exchange pattern on crowdfunding platforms and examine the role of reciprocity as a determinant of funding success. Second, I expand crowdfunding research to include additional outcomes pertinent to crowdfunding. Crowdfunding platforms are self-sustaining communities of entrepreneurs and funders. For the long-term survival of the community, it is important to understand how much satisfaction funders derive from their involvement with crowdfunded firms. I use data from a Kickstarter, a leading rewards-based crowdfunding, to test my propositions. Results from empirical analysis provide strong support to my argument that firm as well as crowdfunding platform attributes are important predictors of funding success. I found that dimensions of entrepreneurial orientation have differential influence on funding success. I also found that norms of reciprocity exist in community of entrepreneurs on crowdfunding platform and that it mediates the effect of an entrepreneur’s social capital on campaign’s funding success. Finally, and most notably, I also found empirical support for my argument that crowdfunded firms can negatively affect the satisfaction derived by funders from their involvement with crowdfunded firms and can threaten long term survival of funding community. I conclude by discussing the implications of my research for theory and practice.
Metrics
5 File views/ downloads
18 Record Views
Details
- Title
- Crowdfunding – Exploring the Role of Firm and Platform Attributes on Funding and Firm Success
- Creators
- Chandresh Baid
- Contributors
- Arrvvind Sahaym (Advisor)Thomas H Allison (Committee Member)Amrita Lahiri (Committee Member)
- Awarding Institution
- Washington State University
- Academic Unit
- Carson College of Business
- Theses and Dissertations
- Doctor of Philosophy (PhD), Washington State University
- Publisher
- Washington State University
- Number of pages
- 135
- Identifiers
- 99901052238001842
- Language
- English
- Resource Type
- Dissertation