Journal
INTERNATIONAL JOURNAL OF INNOVATION AND TECHNOLOGY MANAGEMENT
Volume 19, Issue 1, Pages -Publisher
WORLD SCIENTIFIC PUBL CO PTE LTD
DOI: 10.1142/S0219877021400071
Keywords
Innovative finance; sharing economy; materialism; entrepreneurial finance; informal sources of finance; alternative financing; platform economy
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The study findings indicate that extrinsic motivators are the primary driver for participants in crowdfunding campaigns across different platform types.
Innovation permeates the financial sector by means of collaborative finance. Crowdfunding, as an activity based on peer-to-peer lending through a platform, is an innovative way to finance start-ups. A better understanding is needed of the motivational factors of backers to participate in crowdfunding campaigns. This study used the empirical data to investigate this issue, paying attention to the participation in four platform types (reward-based, lending-based, equity-based, and donation-based crowdfunding). Results indicate that the extrinsic and intrinsic motivators are constructs that drive actual behaviors. Extrinsic motivators are the prevalent driver of participants in crowdfunding, regardless of which platform type is used.
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