Top

Review of Managerial Science

Published in:

08-02-2019 | Original Paper

Participation in crowdfunding among users of collaborative platforms: the role of innovativeness and social capital

Authors: Cayetano Medina-Molina, Manuel Rey-Moreno, J. Augusto Felício, Inmaculada Romano Paguillo

Published in: Review of Managerial Science | Issue 3/2019

Activate our intelligent search to find suitable subject content or patents.

search-config

AI-assisted search

Off

Abstract

This work aims to elucidate the profile of participants in crowdfunding initiatives among users of collaborative platforms, considering them as agents with a high likelihood of taking part in these initiatives due to being users of digital services. This delimitation is performed by investigating the link between two intrinsic factors (innovativeness and social capital) and participation in crowdfunding initiatives. After the analysis of a sample generated by the Sociological Research Centre (CIS) of 422 users of collaborative platforms, it is found that the two intrinsic factors analyzed are linked with participation in crowdfunding initiatives. Moreover, differentiation in participation among users of collaborative platforms corresponds to the adoption of new services (higher for crowdfunding participants) and bridging social capital (lower for crowdfunding participants). The results obtained suggest incorporation of crowdfunding projects in vertical thematic financial platforms to take advantage of the effect of social capital and innovative capacity to increase participation and maintain diversity of effective financing formulas.

previous article Digital innovation and venturing: an introduction into the digitalization of entrepreneurship

next article Of early birds and phantoms: how sold-out discounts impact entrepreneurial success in reward-based crowdfunding

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Ahlers GK, Cumming D, Günther C, Schweizer D (2015) Signaling in equity crowdfunding. Entrep Theory Pract 39(4):955–980CrossRef

Akgün AE, Keskin H, Kırcovali SY (2018) Organizational wisdom practices and firm product innovation. Rev Manag Sci. https://doi.org/10.1007/s11846-017-0243-2 CrossRef

Belleflamme P, Lambert T, Schwienbacher A (2014) Crowdfunding: tapping the right crowd. J Bus Ventur 29(5):585–609CrossRef

Bi S, Liu Z, Usman K (2017) The influence of online information on investing decisions of reward-based crowdfunding. J Bus Res 71:10–18CrossRef

Bouncken RB, Reuschl AJ (2018) Coworking-spaces: how a phenomenon of the sharing economy builds a novel trend for the workplace and for entrepreneurship. Rev Manag Sci. https://doi.org/10.1007/s11846-016-025-y CrossRef

Butticè V, Colombo MG, Wright M (2017) Serial crowdfunding, social capital, and project success. Entrep Theory Pract 41(2):183–207. https://doi.org/10.1111/etap.12271 CrossRef

Cennamo C, Santaló J (2015) How to avoid platform traps. MIT Sloan Rev 57(1):12–15

Centro de Investigaciones Sociológicas (2015) Actitudes y Comportamientos Innovadores en la Sociedad Española. http://www.cis.es/cis/opencm/ES/2_bancodatos/estudios/listaEstudiosYear.jsp?year=2015. Accessed 14 Jan 2018

Centro de Investigaciones Sociológicas (2018) Memoria de actividades 2017. http://www.cis.es/cis/export/sites/default/-Archivos/Memorias/MEMORIA_CIS_2017.pdf. Accessed 14 Jan 2018

Chen Y, Zhang W, Yan X, Jin J (2018) The life-cycle influence mechanism of the determinants of financing performance: an empirical study of a Chinese crowdfunding platform. Rev Manag Sci. https://doi.org/10.1007/s11846-018-0295-y CrossRef

Cho M, Kim G (2017) A cross-cultural comparative analysis of crowdfunding projects in the United States and South Korea. Comput Hum Behav 72:312–320CrossRef

Clauss T, Breitenecker RJ, Kraus S, Brem A, Richter C (2017) Directing the wisdom of the crowd: the importance of social interaction among founders and the crowd during crowdfunding campaigns. Econ Innov New Technol 8:1–21

Dapp TF (2017) Fintech: the digital transformation in the financial sector. In: Osburg T, Lohrmann C (eds) Sustainability in a digital world. CSR, sustainability, ethics & governance. Springer, Berlin, pp 189–199CrossRef

Davis BC, Hmieleski KM, Webb JW, Coombs JE (2017) Funders’ positive affective reactions to entrepreneurs’ crowdfunding pitches: the influence of perceived product creativity and entrepreneurial passion. J Bus Ventur 32(1):90–106CrossRef

European Commission (2017) Crowdfunding. Reshaping the crowd’s engagement in culture

Evans DS, Schmalensee R (2016) Matchmakers: the new economics of multisided platforms. Harvard Business Review Press, Watertown

Feng Y, Ye HJ, Yu Y, Yang C, Cui T (2018) Gamification artifacts and crowdsourcing participation: examining the mediating role of intrinsic motivations. Comput Hum Behav 81:124–136CrossRef

Ferreira JJM, Fernandes CI, Kraus S (2018) Entrepreneurship research: mapping intellectual structures and research trends. Rev Manag Sci. https://doi.org/10.1007/s11846-017-0242-3 CrossRef

García-Villaverde PM, Rodrigo-Alarcón J, Parra-Requena G, Ruiz-Ortega MJ (2018) Technological dynamism and entrepreneurial orientation: the heterogeneous effects of social capital. J Bus Res 83:51–64CrossRef

Gedda D, Nilsson B, Såthén Z, Solberg Søilen K (2016) Crowdfunding: finding the optimal platform for funders and entrepreneurs. Technol Innov Manag Rev 6(3):31–40CrossRef

Heinze KL, Heinze JE (2018) Individual innovation adoption and the role of organizational culture. Rev Manag Sci. https://doi.org/10.1007/s11846-018-0300-5 CrossRef

Helm R, Landschulze S (2009) Optimal stimulation level theory, exploratory consumer behaviour and product adoption: an analysis of underlying structures across product categories. Rev Manag Sci 3:41–73CrossRef

Herzberg F (1968) One more time: how do you motivate employees? Harvard Bus Rev 46:53–62

Kang L, Jiang Q, Tan C-H (2016) Remarkable advocates: an investigation of geographic distance and social capital for crowdfunding. Inf Manag 54(3):336–348CrossRef

Klimas P, Czakon W (2018) Organizational innovativeness and coopetition: a study of video game developers. Rev Manag Sci. https://doi.org/10.1007/s11846-017-0269-5 CrossRef

Kraus S, Meier F, Niemand T (2016a) Experimental methods in entrepreneurship research: the status quo. Int J Entrep Behav Res 22(6):958–983CrossRef

Kraus S, Richter C, Brem A, Cheng CF, Chang ML (2016b) Strategies for reward-based crowdfunding campaigns. J Innov Knowl 1(1):13–23CrossRef

Liang H, Wang M-M, Wang J-J, Xue Y (2018) How intrinsic motivation and extrinsic incentives affect task effort in crowdsourcing contests: a mediated moderation model. Comput Hum Behav 81:168–176CrossRef

Martínez-Román JA, Romero I (2017) Determinants of innovativeness in SMEs: disentangling core innovation and technology adoption capabilities. Rev Manag Sci 11:543–596CrossRef

McIntyre DP, Srinivasan A (2017) Networks, platforms, and strategies, emergent views and next steps. Strateg Manag J 38(1):141–160CrossRef

Mollick E (2014) The dynamics of crowdfunding: an exploratory study. J Bus Ventur 29(1):1–16CrossRef

Niemand T, Angerer M, Thies F, Kraus S, Hebenstreit R (2018) Equity crowdfunding across borders: a conjoint experiment. Int J Entrep Behav Res 24(4):911–932CrossRef

Nucciarelli A, Li F, Fernandes KJ, Goumagias N, Cabras I, Devlin S, Kudenko D, Cowling P (2017) From value chains to technological platforms: the effects of crowdfunding in the digital game industry. J Bus Res 78:341–352CrossRef

Ordanini A, Miceli L, Pizzetti M, Parasuraman A (2011) Crowd-funding: transforming customers into investors through innovative service platforms. J Serv Manag 22(4):443–470CrossRef

Parker GG, Van Alstyne MW, Choudary SP (2016) Platform revolution: how networked markets are transforming the economy—and how to make them work for you. WW Norton & Company, New York

Qin Z, Deng X (2016) Government and family Guanxi in Chinese private firms: perceptions and preference. Rev Manag Sci 10(1):35–60CrossRef

Rey-Moreno M, Medina-Molina C (2016) Social capital in E-services adoption. Psychol Mark 33(12):1151–1158CrossRef

Rochet J-C, Tirole J (2003) Platform competition in two-sided markets. J Eur Econ Assoc 1(4):990–1029CrossRef

Rogers E (1995) Diffusion of innovation. Free, New York

Roig-Tierno N, Kraus S, Cruz S (2018) The relation between coopetition and innovation/entrepreneurship. Rev Manag Sci 12(2):379–383CrossRef

Ryan RM, Deci EL (2000) Self-determination theory and the facilitation of intrinsic motivation, social development, and well-being. Am Psychol 55:68–78CrossRef

Shibchurn J, Yan X (2015) Information disclosure on social networking sites: an intrinsic–extrinsic motivation perspective. Comput Hum Behav 44:103–117CrossRef

Skirnevskiy V, Bendig D, Brettel M (2017) The influence of internal social capital on serial creators’ success in crowdfunding. Entrep Theory Pract 41(2):209–236CrossRef

Taüscher K (2018) When is business model innovation an effective platform strategy? Academy of management annual meeting

Thies F, Huber A, Bock C, Benlian A, Kraus S (2018) Following the crowd—does crowdfunding affect venture capitalists’ selection of entrepreneurial ventures? J Small Bus Manag. https://doi.org/10.1111/jsbm.12447) (in print) CrossRef

Turi AN, Domingo-Ferrer J, Sánchez D, Osmani D (2017) A co-utility approach to the mesh economy: the crowd-based business model. Rev Manag Sci 11:411–442CrossRef

Vilnai-Yavetz I, Levina O (2018) Motivating social sharing of e-business content: intrinsic motivation, extrinsic motivation, or crowding-out effect? Comput Hum Behav 79:181–191CrossRef

Zhang Y, Sun Y, Kim Y (2017) The influence of individual differences on consumer’s selection of online sources for health information. Comput Hum Behav 67:303–312CrossRef

Zhao Y, Zhu Q (2014) Evaluation on crowdsourcing research: current status and future direction. Inf Syst Front 16(3):417–434CrossRef

Title: Participation in crowdfunding among users of collaborative platforms: the role of innovativeness and social capital
Authors: Cayetano Medina-Molina
Manuel Rey-Moreno
J. Augusto Felício
Inmaculada Romano Paguillo
Publication date: 08-02-2019
Publisher: Springer Berlin Heidelberg
Published in: Review of Managerial Science / Issue 3/2019
Print ISSN: 1863-6683
Electronic ISSN: 1863-6691
DOI: https://doi.org/10.1007/s11846-019-00329-4

Springer Professional

Abstract

Please log in to get access to your license.

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Wirtschaft"

Other articles of this Issue 3/2019

Understanding the influence of digitalization on service firm business model design: a qualitative-empirical analysis

Customer satisfaction and repurchase intention theory for the online sharing economy

The perception of value of platform-based business models in the sharing economy: determining the drivers of user loyalty

Predicting customer quality in e-commerce social networks: a machine learning approach

Of early birds and phantoms: how sold-out discounts impact entrepreneurial success in reward-based crowdfunding

Fostering entrepreneurship: an innovative business model to link innovation and new venture creation