Factors Influencing Award-based Crowdfunding Users’ Continuous Participation Intention: A Study Based on Stickiness

The crowdfunding industry is facing the problems of decreasing the number of platforms and increasing the competitive pressure. How to improve the supporters' continuous participation intention is the focus of the award-based crowdfunding platform. Therefore, this paper intends to explore the influencing factors of continuous participation willingness. On the one hand, it extracts the influencing factors based on the characteristics of award-based crowdfunding; on the other hand, it introduces user stickiness based on the commonness of award-based crowdfunding and transactional virtual community. Then, on the basis of expectation-confirmation model, we build a research model of willingness to participate in award-based crowdfunding. Based on the data of 380 supporters, the empirical study finds that: (1) Satisfaction, perceived usefulness and stickiness can significantly improve the continuous participation willingness of award-based crowdfunding supporters. (2) Perceived usefulness and Expectation Confirmation can improve supporter satisfaction, while perceived risk can reduce supporter satisfaction. (3) Crowdfunding quality and supporters' trust have a significant positive effect on stickiness, while supporters' identity has no significant effect on stickiness.