Changes in the Reward-based Crowdfunding Project by COVID-19 Pandemic
##article.authors##
-
Yoshihiro Uchida
Rikkyo University Graduate School of Business Administration
https://researchmap.jp/yoshihiro_uchida
DOI:
https://doi.org/10.51094/jxiv.697Keywords:
Empirical analysis, Propensity score, Fundraiser, Market expansion, Project tendenciesAbstract
The Japanese Reward-based crowdfunding market expanded significantly with the COVID-19 pandemic. This market expansion potentially altered the profile of fundraisers and project tendencies. This study empirically analyzed changes in fundraisers and projects associated with the COVID-19 pandemic, utilizing data from the Japanese crowdfunding platform, propensity score, and logistic regression models. The results suggest that there are changes in project tendencies, notwithstanding the changes in funders due to the COVID-19 pandemic. Specifically, there are indications that crowdfunding is increasingly being utilized as a means for general business development, with new fundraisers entering with established recognition and brand that are independent of crowdfunding platforms. Additionally, the results suggest that the impacts of the COVID-19 pandemic differed by project category.
Conflicts of Interest Disclosure
The author declares no conflicts of interest associated with this manuscript.Downloads *Displays the aggregated results up to the previous day.
References
Allison, T. H., Davis, B. C., Webb, J. W., & Short, J. C. (2017). Persuasion in crowdfunding: An elaboration likelihood model of crowdfunding performance. Journal of Business Venturing, 32(6), 707–725. https://doi.org/10.1016/j.jbusvent.2017.09.002
Anglin, A. H., Short, J. C., Drover, W., Stevenson, R. M., McKenny, A. F., & Allison, T. H. (2018). The power of positivity? The influence of positive psychological capital language on crowdfunding performance. Journal of Business Venturing, 33(4), 470–492. https://doi.org/10.1016/j.jbusvent.2018.03.003
Butticè, V., Colombo, M. G., & Wright, M. (2017). Serial crowdfunding, social capital, and project success. Entrepreneurship Theory and Practice, 41(2), 183–207. https://doi.org/10.1111/etap.12271
Cappa, F., Pinelli, M., Maiolini, R., & Leone, M. I. (2020). “Pledge” me your ears! The role of narratives and narrator experience in explaining crowdfunding success. Small Business Economics, 57, 953–973. https://doi.org/10.1007/s11187-020-00334-y
Courtney, C., Dutta, S., & Li, Y. (2017). Resolving information asymmetry: Signaling, endorsement, and crowdfunding success. Entrepreneurship Theory and Practice, 41(2), 265–290. https://doi.org/10.1111/etap.12267
Davis, B. C., Hmieleski, K. M., Webb, J. W., & Coombs, J. E. (2017). Funders’ positive affective reactions to entrepreneurs’ crowdfunding pitches: The influence of perceived product creativity and entrepreneurial passion. Journal of Business Venturing, 32(1), 90–106. https://doi.org/10.1016/j.jbusvent.2016.10.006
Marom, D., Robb, A., & Sade, O. (2016). Gender dynamics in crowdfunding (kickstarter): Evidence on entrepreneurs, investors, deals and taste based discrimination. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2442954
Shneor, R., & Vik, A. A. (2020). Crowdfunding success: A systematic literature review 2010–2017. Baltic Journal of Management, 15(2), 149–182. https://doi.org/10.1108/BJM-04-2019-0148
Skirnevskiy, V., Bendig, D., & Brettel, M. (2017). The Influence of internal social capital on serial creators’ success in crowdfunding. Entrepreneurship Theory and Practice, 41(2), 209–236. https://doi.org/10.1111/etap.12272
Uchida, Y. (2024). Konyugata kuraudofuandeingu ni okeru COVID-19 pandemikku no shusshisha kodo he no eikyo ―keiko sukoa matchingu wo mochiita jissho bunseki― [Impacts of COVID-19 Pandemic on Funder Behavior in Reward-based Crowdfunding ―An Empirical Analysis Using Propensity Score Matching―]. Soshiki kagaku [Organizational science], 57(3), 4–17 (in Japanese).
Zhou, M., Lu, B., Fan, W., & Wang, G. A. (2018). Project description and crowdfunding success: An exploratory study. Information Systems Frontiers, 20(2), 259–274. https://doi.org/10.1007/s10796-016-9723-1
Yano Research Institute. (2021). 2021 nen ban kokunai kuraudofuandeingu no shijo doko [Domestic crowdfunding market trends 2021 edition]. Yano Keizai Kenkyujo (in Japanese).
Yoshioka-kobayashi, T. (2021). Inobeshon kenkyu ni okeru teiryo bunseki no deta gen no shin choryu [New trends in data sources for quantitative analysis in innovation research]. Soshiki kagaku [Organizational science], 55(1), 31–40 (in Japanese). https://doi.org/10.11207/soshikikagaku.20211015-3
Zhou, M., Lu, B., Fan, W., & Wang, G. A. (2018). Project description and crowdfunding success: An exploratory study. Information Systems Frontiers, 20(2), 259–274. https://doi.org/10.1007/s10796-016-9723-1
Downloads
Posted
Submitted: 2024-05-02 05:55:37 UTC
Published: 2024-05-09 10:08:16 UTC
License
Copyright (c) 2024
Yoshihiro Uchida
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
