The role of trust and e-WOM in the crowdfunding participation: the case of equity crowdfunding platforms in financial services in Iran

Mehri Dehghani, Katarzyna Piwowar-Sulej, Ebrahim Salari, Daniele Leone and Fatemeh Habibollah

International Journal of Emerging Markets, 2023, vol. 19, issue 10, 2577-2596

Abstract: Purpose - The aim of this research is to examine the roles of trust and electronic word-of-mouth (e-WOM) in crowdfunding (CF) participation for equity CF by taking into account the following antecedents of trust and e-WOM: intrinsic motivation (IM), extrinsic motivation (EM), deterrents, venture quality (VQ), third-party seal (TPS), value congruence (VC) and perceived accreditation (PA). Design/methodology/approach - In this research, a survey among 408 active and potential funders in Iran was conducted. The statistical analysis used partial least squares structural equation modeling (PLS-SEM). Findings - The results of this research revealed a significant influence of trust and e-WOM on participation in CF for equity CF. Extrinsic motivation had the greatest impact on trust and VC had the greatest impact on e-WOM. Originality/value - This research extends the equity CF research area to CF success and considers the effects of some parameters on CF participation. This research provides many theoretical and practical implications.

Keywords: Equity crowdfunding platform; Trust; Electronic word-of-mouth; Crowdfunding participation; Crowdfunding campaign management (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijoemp:ijoem-09-2021-1358

DOI: 10.1108/IJOEM-09-2021-1358

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