The Pervasive Role of Campaign and Product-Related Uncertainties in Inhibiting Crowdfunding Success

Christian Hopp, Stefan Rose and Jermain Kaminski ()
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Christian Hopp: Institute for Applied Data Science and Finance, Bern University of Applied Sciences, Brückenstrasse 73, 3005 Bern, Switzerland
Stefan Rose: Institute for Marketing and Global Management, Bern University of Applied Sciences, Brückenstrasse 73, 3005 Bern, Switzerland
Jermain Kaminski: Department of Organisation, Strategy & Entrepreneurship, School of Business and Economics, Maastricht University, Tongersestraat 53, 6211 LM Maastricht, The Netherlands

JRFM, 2022, vol. 15, issue 8, 1-17

Abstract: In this research, we study the funding decision in crowdfunding from the perspective of potential backers. We assess whether perceived uncertainty affects the decision to contribute to crowdfunding campaigns. For this purpose, we conduct a 2 × 2 between-subjects experiment with different stages of product development and the perceived innovativeness of products depicted in campaigns. Our findings show that an early development stage positively affects perceived uncertainty, adversely affecting the willingness to contribute. Simultaneously, higher perceived innovativeness elicits higher uncertainty perceptions, negatively influencing the willingness to contribute. Our research furthers an understanding of entrepreneur perspective taking to overcome uncertainty perceptions from the indeterminacy of crowdfunding campaigns.

Keywords: crowdfunding; new product development; entrepreneurial financing; uncertainty; psychology of innovation; experimentation (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2022
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