DOES PROJECT FEATURE AFFECT PERCEIVED ATTRIBUTE AND CROWDFUNDING INTENTION IN DIFFERENT PROJECT TYPES? AN EMPIRICAL STUDY FROM CHINA

Author(s)

Cong Shen, Mingxia Wei*

Author affiliation

School of Management, Henan University of Technology, Zhengzhou 450001, China

Abstract

Although the crowdfunding industry has developed rapidly in China in recent years, the phenomenon of financing failure still occurs frequently, which is related to the lack of crowdfunding intention of supporters. By employing the structural equation modeling (SEM), this study constructed a research model of supporters’ crowdfunding intention, aiming to further explore the differences in the factors that influence supporters’ crowdfunding intention under donation-based and product-based crowdfunding types. Through a questionnaire survey of 449 respondents who have participated in crowdfunding projects, it was found that the project feature can exert a certain effect on crowdfunding intention by affecting the perceived attribute. On the one hand, project feature had different impact on perceived attribute in different crowdfunding types. It was found that project return and risk have significant effects on the perceived attribute in both crowdfunding types. Social network, however, showed different impacts on perceived attribute in two crowdfunding types. On the other hand, perceived attribute also had varying degrees of influence on crowdfunding intention. Perceived credibility had a significant positive influence on crowdfunding intention of supporters in both crowdfunding types, whereas the influence of perceived usefulness and perceived ease of use on different project types of crowdfunding intention were different. The results of this study are conducive to the better understanding the law of supporters’ crowdfunding intention in various project types, to provide some theoretical basis for the project sponsors to better design the project and for the platform to improve enthusiasm of potential supporters’ crowdfunding intention.

Keywords

Project Feature, Perceived Attribute, Crowdfunding Intention, Donation-based Crowdfunding, Product-based Crowdfunding.