The Recipe of Successful Crowdfunding Campaigns: An Analysis of Crowdfunding Success Factors and Their Interrelations

Electronic Markets, Forthcoming

44 Pages Posted: 23 Aug 2019

See all articles by Jascha-Alexander Koch

Jascha-Alexander Koch

Goethe University Frankfurt - Faculty of Economics and Business Administration

Michael Siering

Goethe University Frankfurt Faculty of Economics and Business Administration

Date Written: August 12, 2019

Abstract

Online crowdfunding websites are multi-sided platforms that offer project founders the possibility to publish their project ideas, to address potential investors, and to ask for funding. The successful funding of crowdfunding campaigns is important for founders, investors, platform operators, and diverse interest groups as well. As a consequence, research has already shed light on some success factors of crowdfunding campaigns, but the interrelations between the success factors have been neglected so far. Building upon previous research in the field of crowdfunding, investment decision making, and signaling theory, we propose a research model to explain crowdfunding success considering success factors and their interrelations. Our findings reveal that not only the factors themselves but also their interrelations are important to explain funding success. Our results are highly relevant for the stakeholders on crowdfunding platforms in order to prepare and identify successful project proposals.

Keywords: Crowdfunding, Funding Success Factors, InvestmentDecision Making, Signaling Theory, Information Disclosure

JEL Classification: D26, D9, D90, D91, G11, G23, G4, G40, G41

Suggested Citation

Koch, Jascha-Alexander and Siering, Michael, The Recipe of Successful Crowdfunding Campaigns: An Analysis of Crowdfunding Success Factors and Their Interrelations (August 12, 2019). Electronic Markets, Forthcoming . Available at SSRN: https://ssrn.com/abstract=3439202 or http://dx.doi.org/10.2139/ssrn.3439202

Jascha-Alexander Koch (Contact Author)

Goethe University Frankfurt - Faculty of Economics and Business Administration ( email )

Theodor-W.-Adorno-Platz 4
Hauspostfach 69
Frankfurt, 60629
Germany

Michael Siering

Goethe University Frankfurt Faculty of Economics and Business Administration ( email )

Grueneburgplatz 1
Frankfurt am Main, 60323
Germany

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