Open Innovation in Crowdfunding Context: Diversity, Knowledge, and Networks

Chien-Chi Chu, Ya-Fang Cheng, Fu-Sheng Tsai, Sang-Bing Tsai and Kun-Hwa Lu
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Chien-Chi Chu: Department of Finance, Business School of Shantou University, Guangdong 528400, China
Ya-Fang Cheng: Department of Business Administration, Cheng Shiu University, Kaohsiung 83347, Taiwan
Fu-Sheng Tsai: Department of Business Administration, Cheng Shiu University, Kaohsiung 83347, Taiwan
Sang-Bing Tsai: Zhongshan Institute, University of Electronic Science and Technology of China, Guangdong 528400, China
Kun-Hwa Lu: Department of Business Administration, Cheng Shiu University, Kaohsiung 83347, Taiwan

Sustainability, 2019, vol. 11, issue 1, 1-11

Abstract: Open innovation is an essential phenomenon in the crowdfunding context. This conceptual piece tends to offer an integrative discussion of three important mechanisms upon which stakeholders of a crowdfunding platform conduct open innovation and value co-creation in crowdfunding sites. These mechanisms include: diversity, knowing, and networking. We argued that: 1. diverse demographic attributes facilitate multiple-party value co-creation; 2. knowledge of platform stakeholders improves quality of ideas; 3. networking positively impacts on open innovation performance. With such discussions, a theoretical foundation for future research is built and more research issues are stimulated.

Keywords: open innovation; crowdfunding; knowledge; diversity; networking (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

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