{"title":"Product Commercialization through Crowdfunding Websites: A Consumer-Centric Approach","authors":"Fan-Chuan Tseng","doi":"10.1080/15332861.2020.1870341","DOIUrl":null,"url":null,"abstract":"Abstract Crowdfunding websites have emerged as a novel financing channel to promote new ideas and facilitate innovative product development. The crowd can examine the project online and provide their support in the form of a donation or in exchange for reward. The study argues that the success of crowdfunding refers not only to financial resources but also to the connection among individuals on the crowdsourcing website. Considering the characteristics of online funders and product development, this study proposes an integrative model to examine the relationships among individuals’ traits, affordance of website design, individual cognition, and funding intention. A survey was conducted to collect and analyze empirical data from the largest Taiwanese crowdfunding website. The research results demonstrate that individuals’ altruism and innovativeness significantly affect their trusting belief in the crowdfunding proposer; design affordance is also an important antecedent of trust and risk perception. Moreover, trust and risk perception significantly affect individuals’ attitude and further intention to donate the crowdfunding project. This study suggests both practical and theoretical views for elucidating and enhancing the effectiveness of crowdfunding.","PeriodicalId":46488,"journal":{"name":"Journal of Internet Commerce","volume":null,"pages":null},"PeriodicalIF":4.1000,"publicationDate":"2021-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/15332861.2020.1870341","citationCount":"5","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Internet Commerce","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/15332861.2020.1870341","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 5
Abstract
Abstract Crowdfunding websites have emerged as a novel financing channel to promote new ideas and facilitate innovative product development. The crowd can examine the project online and provide their support in the form of a donation or in exchange for reward. The study argues that the success of crowdfunding refers not only to financial resources but also to the connection among individuals on the crowdsourcing website. Considering the characteristics of online funders and product development, this study proposes an integrative model to examine the relationships among individuals’ traits, affordance of website design, individual cognition, and funding intention. A survey was conducted to collect and analyze empirical data from the largest Taiwanese crowdfunding website. The research results demonstrate that individuals’ altruism and innovativeness significantly affect their trusting belief in the crowdfunding proposer; design affordance is also an important antecedent of trust and risk perception. Moreover, trust and risk perception significantly affect individuals’ attitude and further intention to donate the crowdfunding project. This study suggests both practical and theoretical views for elucidating and enhancing the effectiveness of crowdfunding.
期刊介绍:
The business world has undergone many changes because of information technology, and the impact of the Internet may cause one of the biggest yet. While many people use the Internet for educational and entertainment purposes, organizations and companies are looking for ways to tie their internal networks to this global network to conduct electronic commerce. While companies have been conducting business electronically with suppliers and customers for many years, conducting online commerce via the Internet offers even greater opportunities for multinational, national, and even small businesses to cut costs, improve efficiency, and reach a global market.