Deriving Execution Effectiveness of Crowdfunding Projects from the Fundraiser Network

• 成果类型: Article
• 署名作者: Kao, Ta-Wei (Daniel); Hsiao, Shih-Hui (Steven); Su, Hung-Chung; Ku, Chih-Hao (Justin)
• 署名单位: University of Michigan System; University of Michigan; Rowan University; University System of Ohio; Cleveland State University
• 刊物名称: JOURNAL OF MANAGEMENT INFORMATION SYSTEMS
• ISSN/ISSBN: 0742-1222
• DOI: 10.1080/07421222.2021.2023404
• 发表日期: 2022
• 页码: 276-301
• 关键词: success; performance; Embeddedness; EFFICIENCY; DYNAMICS

摘要

Reward-based crowdfunding has become a popular fundraising marketspace for entrepreneurs. However, few studies take a process perspective and examine how fundraiser network influences the execution effectiveness of crowdfunding projects. Collecting the funding activities of all fundraisers on Kickstarter in 2017, we construct a fundraiser network and examine the effects of fundraiser network structural characteristics on project execution effectiveness. Employing endogenous stochastic frontier analysis, we show that reciprocity and accessibility in the fundraiser network increase project execution effectiveness. We also demonstrate that gaining network status by virtue of being an authoritative figure in the fundraiser network increases project execution effectiveness. In sum, our study identifies the effects of the fundraiser network characteristics on project execution effectiveness and introduces a process perspective for evaluating crowdfunding campaigns.