Startseite Wirtschaftswissenschaften The Second Round Resource Acquisition of Entrepreneurial Crowdfunded Ventures: The Relevance of Campaign and Project Implementation Performance Outcomes
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The Second Round Resource Acquisition of Entrepreneurial Crowdfunded Ventures: The Relevance of Campaign and Project Implementation Performance Outcomes

  • Gladys Tuo , Feng Yi EMAIL logo , Solomon Sarpong und Wenxin Wang
Veröffentlicht/Copyright: 28. Mai 2019

Abstract

This study focused on crowdfunded ventures in the reward-based model and explored the relevance of their essential campaign and project implementation performance outcomes on the second round of resource acquisition. This research considered funding from accredited and unaccredited investors, additional crowd capital, and other forms of resources from other business investors. Results from sampled crowdfunded ventures on the Kickstarter and projects official websites revealed that the determinants of first round crowdfunding project campaign traction, reward delivery scheduled date, campaign duration, and reward delivery performance outcomes predict the second round of resource acquisition. Furthermore, the results suggest that project creators’ crowdfunding risk awareness is a relevant determinant of reward delivery performance outcome and access to the second round of resource. The findings are significant for the decision-making of entrepreneurs, investors, and crowdfunding platforms, as these parties benefit from the informational value of campaign and project implementation performance outcomes.

Acknowledgments

The authors thank the two anonymous referees for their constructive comments. This research was supported by the National Natural Science Foundation of China (Nos.71432003, 71871045), National Social Science Foundation of China (No 18BGL108), and the Fundamental Research Funds for the Central Universities (No. ZYGX2018003FRJH).

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Published Online: 2019-05-28

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