Persuasion in crowdfunding: An elaboration likelihood model of crowdfunding performance

Thomas H. Allison, Blakley C. Davis, Justin W. Webb and Jeremy C. Short

Journal of Business Venturing, 2017, vol. 32, issue 6, 707-725

Abstract: This study draws upon the elaboration likelihood model of persuasion (ELM) to develop and test a model of persuasive influence in crowdfunding. To test our hypothesized relationships, we drew upon a sample of 383 ventures taken directly from Kickstarter, coupled with a decision experiment conducted in a simulated crowdfunding context. Results suggest that issue-relevant information, such as entrepreneurs' education, matters most when funders possess greater ability and motivation to make careful evaluations. In contrast, cues, such as adopting a group identity, have their strongest influence among inexperienced, first-time funders, and when requested funding amounts are smaller.

Keywords: Crowdfunding; Persuasion; Elaboration likelihood model; ELM; Funder differences (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (130)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbvent:v:32:y:2017:i:6:p:707-725

DOI: 10.1016/j.jbusvent.2017.09.002

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