Economics at your fingertips  

Million dollar personality: a systematic literature review on personality in crowdfunding

Julia Neuhaus (), Andrew Isaak and Denefa Bostandzic
Additional contact information
Julia Neuhaus: Heinrich-Heine-University of Düsseldorf
Andrew Isaak: Heinrich-Heine-University of Düsseldorf
Denefa Bostandzic: Heinrich-Heine-University of Düsseldorf

Management Review Quarterly, 2022, vol. 72, issue 2, No 3, 309-345

Abstract: Abstract Expressed personality traits can play a pivotal role in convincing investors in crowdfunding. Our study answers the research question: What is the current body of knowledge regarding the relationship between personality factors and crowdfunding success and where are knowledge gaps where the literature is silent? In our literature review, we therefore analyze and categorize (1) the results provided by quantitative studies on the relationship between the personality of entrepreneurs and crowdfunding success and (2) the research gaps identified by the authors investigating personality in crowdfunding. We find that studies investigating the entrepreneur's personality, i.e. the Big Five, other baseline personality traits (self-efficacy, innovativeness, locus of control, and need for achievement) and the Dark Triad, find positive relationships between openness and crowdfunding success, while narcissism shows an inverted u-shaped relationship with crowdfunding success across articles. However, the effects of other personality traits on crowdfunding success are largely inconclusive. Further, we identify four main gaps in the literature. First, future studies should examine non-linear relationships between expressed personality traits and crowdfunding success. Second, there is a need for more studies that employ different methods like qualitative or mixed-method approaches. Third, replication studies in similar and different contexts are urgently needed. Fourth, a plurality of personality perspectives would strengthen future research (e.g., investor perspective, third party perspective). To our knowledge this is the first literature review of personality traits in crowdfunding. Our work aims to enrich our understanding of individual-level components in the underexplored alternative finance market.

Keywords: Literature review; Personality; Crowdfunding; Five-factor model; Dark triad (search for similar items in EconPapers)
JEL-codes: D80 D91 G30 G41 L14 L26 O30 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) Abstract (text/html)
Access to the full text of the articles in this series is restricted.

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:

Ordering information: This journal article can be ordered from

DOI: 10.1007/s11301-021-00242-9

Access Statistics for this article

Management Review Quarterly is currently edited by Thomas Reutterer, Jonas F. Puck, Engelbert Dockner and Anne d'Arcy

More articles in Management Review Quarterly from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2022-07-09
Handle: RePEc:spr:manrev:v:72:y:2022:i:2:d:10.1007_s11301-021-00242-9