Crowdfunding in times of crisis – the interplay of uncertainty and backers' well-being in small business rescue campaigns

IF 2.4 4区管理学 Q3 MANAGEMENT

Baltic Journal of Management Pub Date : 2023-07-18 DOI:10.1108/bjm-11-2022-0416

Kalanit Efrat, Shaked Gilboa, A. Wald

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引用次数: 2

Abstract

PurposeThe economic crisis triggered by the COVID-19 pandemic seriously jeopardized small businesses. To survive, many small businesses turned to their networks by launching crowdfunding “rescue” campaigns, which were very successful in eliciting both funding and community support. This study aims to explain this success from the backers' perspective by addressing support intentions in uncertain times. The authors examine backers' paradoxical behavior by investigating the influence of ambiguity aversion (individual uncertainty), business-level uncertainty and environmental uncertainty on backers' intentions to support small businesses and the interaction of uncertainty with backers' well-being.Design/methodology/approachSurvey data from 230 backers of small business rescue campaigns were analyzed using structural equation modeling.FindingsThe findings indicate that ambiguity aversion negatively dominates backers' support intentions. However, under the mediating effect of well-being, business-level and environmental uncertainties positively impact backers' intentions, whereas ambiguity aversion becomes non-significant.Originality/valueUncertainties are supposed to have a negative influence on individual well-being. By contrast, this study shows that backers' well-being is influenced by the context of the crowdfunding campaign. Uncertain conditions can provide value in addition to the benefits gained by backers from supporting crowdfunding campaigns.

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危机时期的众筹——小企业救助活动中不确定性和支持者福祉的相互作用

目的新冠肺炎疫情引发的经济危机严重危害了小企业。为了生存，许多小企业通过发起众筹“救援”活动来求助于他们的网络，这些活动在获得资金和社区支持方面非常成功。本研究旨在通过解决不确定时期的支持意向，从支持者的角度解释这一成功。作者通过调查歧义厌恶（个体不确定性）的影响来检验支持者的悖论行为，商业层面的不确定性和环境不确定性对支持者支持小企业的意图以及不确定性与支持者幸福感的相互作用。设计/方法/方法使用结构方程模型分析了230名小企业救援活动支持者的调查数据。研究结果表明，歧义厌恶对支持者的支持意图具有负向支配作用。然而，在幸福感的中介作用下，商业水平和环境的不确定性对支持者的意图产生了积极影响，而模糊厌恶则变得不显著。原始性/价值不确定性被认为对个人幸福感产生了负面影响。相比之下，这项研究表明，支持者的幸福感受到众筹活动背景的影响。除了支持者通过支持众筹活动获得的好处外，不确定的条件还可以带来价值。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Baltic Journal of Management MANAGEMENT-

CiteScore

5.40

自引率

9.70%

发文量

期刊介绍： The Baltic region has experienced rapid political and economic change over recent years. The challenges to managers and management researchers operating within the area are often different to those experienced in other parts of the world. The Baltic Journal of Management contributes to an understanding of different management cultures and provides readers with a fresh look at emerging management practices and research in the countries of the Baltic region and beyond.