Equity Crowdfunding and the Online Investors’ Risk Perception: A Co-created List of Web Design Guidelines for Optimizing the User Experience

Sandrine Prom Tep (), Sylvain Sénécal (), François Courtemanche () and Valerie Gohier ()
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Sandrine Prom Tep: ESG, University of Quebec in Montréal
Sylvain Sénécal: RBC Financial Group Chair of E-commerce, HEC Montréal
François Courtemanche: Tech3lab, HEC Montreal
Valerie Gohier: Imarklab

Chapter Chapter 24 in Managing Complexity, 2017, pp 301-311 from Springer

Abstract: Abstract Equity crowdfunding is a new venue for businesses in search of investment money. It consists of funding within reach through dedicated online marketplaces, connecting angel investors and startups. It implies investment for partial ownership and is subject to securities and financial regulations. As the practices emerge, we need to better understand investors’ perception of the risk level associated with this type of investment. Our study evaluates how design and interface elements influence these perceptions. An experiment was conducted with potential investors (N = 30), who went through the investment process on a Web prototype mirroring Seedrs.com. Using eyetracking and facial emotion measures, cognitive attention processes were observed and triangulated with investors’ risk perception evaluations. The study identifies semantics and presentation sequence as prohibitive usability issues linked to risk perception.

Keywords: Equity crowdfunding; Online investment; Consumers’ risk perception; Web usability; Co-design; Co-creation (search for similar items in EconPapers)
Date: 2017
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DOI: 10.1007/978-3-319-29058-4_24

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