信号组合如何影响股权众筹的成功:来自中国酒店业的证据

IF 11.3 1区 化学 Q1 CHEMISTRY, PHYSICAL
Liqing La , Seongsoo (Simon) Jang
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引用次数: 0

摘要

大多数众筹研究主要探讨基于奖励的众筹的成功因素,而本研究则研究复合信号组合的功效。具体而言,我们研究了由产品和公司相关信息组成的实质性信号组合和以语言信息为基础的修辞性信号组合如何影响基于股权的酒店众筹的绩效。通过分析中国酒店业 512 个股权众筹项目的客观数据,我们的研究结果表明,与产品和公司相关的实质性信号(如价格和团队规模)的组合提高了股权众筹的金额和比例。此外,我们的研究结果还揭示出,与产品相关的实质性信号(价格)和修辞性信号(情感诉求)的结合大大有助于股权众筹的成功。这些发现不仅为现有的酒店众筹文献做出了贡献,还为酒店业的股权众筹管理者提供了战略启示。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
How signal portfolios affect success in equity-based crowdfunding: Evidence from the Chinese hotel industry
While most crowdfunding studies predominantly explore the success factors of reward-based crowdfunding, this research studies the efficacy of composite signal portfolios. Specifically, we investigate how bundles of substantive signals—comprising product- and firm-relevant information—and rhetorical signals—grounded in language-based information—affect the performance of equity-based hotel crowdfunding. By analyzing objective data from 512 equity crowdfunding projects within the Chinese hotel industry, our findings indicate that the combination of product- and firm-related substantive signals, such as price and team size, enhances both the amount and percentage of equity-based crowdfunding. Furthermore, our results unveil that the combination of product-related substantive (price) and rhetorical (emotional appeal) signals significantly contributes to equity-based crowdfunding success. These findings not only contribute to the existing literature on hotel crowdfunding but also offer strategic implications for equity-based crowdfunding managers in the hotel industry.
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来源期刊
ACS Catalysis
ACS Catalysis CHEMISTRY, PHYSICAL-
CiteScore
20.80
自引率
6.20%
发文量
1253
审稿时长
1.5 months
期刊介绍: ACS Catalysis is an esteemed journal that publishes original research in the fields of heterogeneous catalysis, molecular catalysis, and biocatalysis. It offers broad coverage across diverse areas such as life sciences, organometallics and synthesis, photochemistry and electrochemistry, drug discovery and synthesis, materials science, environmental protection, polymer discovery and synthesis, and energy and fuels. The scope of the journal is to showcase innovative work in various aspects of catalysis. This includes new reactions and novel synthetic approaches utilizing known catalysts, the discovery or modification of new catalysts, elucidation of catalytic mechanisms through cutting-edge investigations, practical enhancements of existing processes, as well as conceptual advances in the field. Contributions to ACS Catalysis can encompass both experimental and theoretical research focused on catalytic molecules, macromolecules, and materials that exhibit catalytic turnover.
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