THE ROLE OF VOLUNTARILY DISCLOSED INFORMATION ON CROWDFUNDING SUCCESS: EVIDENCE FROM KICKSTARTER

Ashley Gangloff, Karen Schnatterly, Neal M. Snow, Patrick Wheeler and James Whitworth

Accounting & Taxation, 2023, vol. 15, issue 2, 31-54

Abstract: Information crowdfunding discloses deviates from mainstream business disclosures in several important ways. In this study, we examine one aspect of this information phenomenon, i.e., the textual, nonmonetary, nonfinancial content of voluntary crowdfunding disclosures. We build on literature on voluntary disclosure, crowdfunding, and content analysis by examining how voluntary disclosure impacts funding success on one of the most successful crowdfunding websites, Kickstarter. Using a large sample of over two years of projects (102,967 projects), we find that the volume and content of voluntary disclosure impact funding success, and that those main effects differ based on discloser credibility and market competition in ways consistent with prior voluntary disclosure literature. Our results have implications for crowdfunding and regulators by providing new insight into crowdfunding stakeholder decision-making.

Keywords: Agency Theory; Crowdfunding; Content Analysis; Voluntary Disclosure (search for similar items in EconPapers)
JEL-codes: G29 M13 M41 M48 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.theibfr2.com/RePEc/ibf/acttax/at-v15n2-2023/AT-V15N2-2023-3.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ibf:acttax:v:15:y:2023:i:1:p:31-54

Access Statistics for this article

Accounting & Taxation is currently edited by Terrance Jalbert

More articles in Accounting & Taxation from The Institute for Business and Finance Research
Bibliographic data for series maintained by Mercedes Jalbert ( this e-mail address is bad, please contact ).