Dissertation
Instinct, personality and acquaintances: Expanding our understanding of crowdfunding success
Doctor of Philosophy (PhD), Washington State University
01/2018
Handle:
https://hdl.handle.net/2376/107814
Abstract
Entrepreneurs are continuing to use alternative means to traditional funding (e.g., venture capital). Rewards based crowdfunding, an alternative mean, has been gaining momentum. Although crowdfunding research has emphasized the importance of systematic processing of entrepreneurs by funders, I examine both the automatic processing of entrepreneurs by funders (instinct and first impressions) and systematic processing (identified signals received by funders about entrepreneurs). This examination is necessary given the large number of investment opportunities that necessitates investors to quickly and efficiently short-list potential investment options. Despite the fact they view the new ventures with uncertainty and there exists rampant information asymmetry. With limited information and trust it is difficult to differentiate between the entrepreneurs that will develop a product or create a successful new venture and those which will ultimately fail to do so. To this end, this manuscript examines factors that increase the willingness of funders to invest in new ventures despite a lack of trust and information asymmetry. More specifically, I examine how (1) The funders’ instincts about the entrepreneur (2) The funders’ first impressions of the entrepreneur and (3) The funders’ view of the entrepreneur’s affiliations determine funding in a crowdfunding context. Together, they argue that a funders evolutionary based instinct, first impressions of personality and the reputation of an entrepreneur’s affiliates play a role in crowdfunding success. Together the three papers find that funders use automatic and systematic processes in determining funding decisions. Indeed, favorable views of entrepreneurs based on evolutionary instincts, first impressions of personality and legitimacy gained from external entities effect the funders decision making process and positively influences new venture funding.
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Details
- Title
- Instinct, personality and acquaintances: Expanding our understanding of crowdfunding success
- Creators
- Joshua Douglas Maurer
- Contributors
- Arvin Sahaym (Advisor)John B Cullen (Committee Member)Thomas Allison (Committee Member)
- Awarding Institution
- Washington State University
- Academic Unit
- Carson College of Business
- Theses and Dissertations
- Doctor of Philosophy (PhD), Washington State University
- Number of pages
- 183
- Identifiers
- 99900581712801842
- Language
- English
- Resource Type
- Dissertation