Motivations for crowdfunding: What drives the crowd to invest in start-ups?

ECIS 2014 Proceedings - 22nd European Conference on Information Systems

Volumn , Issue , 2014, Pages

  Bretschneider, Ulrich ^a   Knaub, Katharina ^a   Wieck, Enrico ^a  

^a UNIVERSITY OF KASSEL   (Germany)

Author keywords

Crowdfunding; Entrepreneurship; Motivation; Start ups

Indexed keywords

INFORMATION SYSTEMS;

BODY OF KNOWLEDGE; CROWDFUNDING; EMPIRICAL SURVEYS; ENTREPRENEURSHIP; FINANCIAL RETURNS; RESEARCH MODELS; RESEARCH QUESTIONS; START-UPS;

MOTIVATION;

EID: 84905851921     PISSN: None     EISSN: None     Source Type: Conference Proceeding    
DOI: None     Document Type: Conference Paper

References (52)

1. Agrawal, A., C. Catalini, et al. (2011). "Offline Relationships, Distance, and the Internet:: The Geography of Crowdfunding." Retrieved 02.09.2013, from http://pages.stern.nyu.edu/~atakos/ResearchCamp/agoldfarbpaper. pdf.
2. Ahlers, G. K. C., D. J. Cumming, et al. (2012). "Signaling in Equity Crowdfunding" Available at SSRN: http://ssrn.com/abstract=2161587
3. Banerjee, A. V. (1992). "A Simple Model of Herd Behavior." The Quarterly Journal of Economics 107(3): 797-817.
4. Bollen, K. A. (1989). Structural Equations with Latent Variables. New York, Wiley-Interscience.
5. Brabham, D. C. (2008). "Moving the crowd at iStockphoto: The composition of the crowd and motivations for participation in a crowdsourcing application." First monday 13(6).
6. Brabham, D. C. (2010). "Moving the crowd at Threadless." Information, Communication & Society 13(8): 1122-1145.
7. Bretschneider, U. (2012). Die Ideen-Community zur Integration von Kunden in den Innovationsprozess: Empirische Analysen und Implikationen. Wiesbaden, Gabler Verlag.
8. Brettel, M. (2003). "Business angels in Germany: A research note." Venture Capital 5(3): 251-268.
9. Brettel, M., C. Jaugey, et al. (2000). Business angels: Der informelle Beteiligungskapitalmarkt in Deutschland. Wiesbaden, Gabler.
10. Burkett, E. (2011). "A Crowdfunding Exemption? Online Investment Crowdfunding and U.S. Securities Regulation." Transactions: The Tennessee Journal of Business Law, 13(1): 63-106.
11. Burtch, G., A. Ghose, et al. (2013). "An Empirical Examination of the Antecedents and Consequences of Contribution Patterns in Crowd-Funded Markets." Information Systems Research 24(3): 499-519.
12. Cialdini, R. B. (2010). Die Psychologie des Überzeugens: Ein Lehrbuch für alle, die ihren Mitmenschen und sich selbst auf die Schliche kommen wollen. Bern, Huber.
13. Cohn, S. R. (2012). "The New Crowdfunding Registration Exemption: Good Idea, Bad Execution." Florida Law Review, Forthcoming
14. Deci, E. L. and R. M. Ryan (1993). "Die Selbstbestimmungstheorie der Motivation und ihre Bedeutung für die Pädagogik." Zeitschrift für Pädagogik 39: 223-238.
15. Deci, E. L. and R. M. Ryan (2000). "Self-determination theory and the facilitation of intrinsic motivation, social development, and well-being." American Psychologist 55(1): 68-78.
16. Edelmann, W. (2000). Lernpsychologie. Weinheim, Beltz.
17. Feeney, L., G. H. Haines, et al. (1999). "Private investors' investment criteria: Insights from qualitative data." Venture Capital 1(2): 121-145.
18. Füller, J. (2006). "Why Consumers Engage in Virtual New Product Developments Initiated by Producers." Advances in Consumer Research 33: 639-646.
19. Gerber, E. M., J. S. Hui, et al. (2012). "Crowdfunding: Why People are Motivated to Participate." Technical Report(2).
20. Griffin, Z. J. (2012). "Crowdfunding: Fleecing the American Masses." Case Western Reserve Journal of Law, Technology & the Internet, Forthcoming.
21. Harms, M. (2007). "What Drives Motivation to Participate Financially in a Crowdfunding Community?" SSRN Electronic Journal(2269242).
22. Hars, A. and S. Ou (2002). "Working for Free? Motivations for participating in open source projects." International Journal of Electronic Commerce 6(3): 25-39.
23. Heckhausen, H. and J. Heckhausen (2010). Motivation und Handeln. Berlin u.a., Springer.
24. Hemer, J. (2011). "A snapshot on crowdfunding." Retrieved 11.10.2013, from http://www.isi.fraunhofer.de/isi-media/docs/p/de/arbpap- unternehmen-region/ap-r2-2011.pdf?WSESSIONID=4c22adac41eed808d14bd0627c860be6.
25. Hemer, J., U. Schneider, et al. (2011). Crowdfunding und andere Formen informeller Mikrofinanzierung in der Projekt- und Innovationsfinanzierung. Stuttgart, Fraunhofer Verlag.
26. Henseler, J. and C. M. Ringle (2009). The Use of Partial-Least-Squares Path Modeling in International Marketing. Advances in International Marketing. R. R. Sinkovics and P. N. Ghauri, Emerald Group Publishing: 277-319.
27. Herzenstein, M., U. M. Dholakia, et al. (2011). "Strategic Herding Behavior in Peer-to-Peer Loan Auctions." Journal of Interactive Marketing 25(1): 27-36.
28. Howe, J. (2006). "The Rise of Crowdsourcing." Wired Magazine 14(6).
29. Janzik, L. (2012). Motivanalyse zu Anwenderinnovationen in Online-Communities. Wiesbaden, Gabler.
30. Jöreskog, K. G. (1977). Structural equation models in social sciences: specification, estimation and testing. Applications of Statistics. Amsterdam, P. R. Krishnaiah.
31. Jost, P.-J. (2000). Organisation und Motivation: Eine ökonomisch-psychologische Einführung. Wiesbaden, Gabler.
32. Kappel, T. (2009). "Ex Ante Crowdfunding and the Recording Industry: A Model for the U.S." Loyola of Los Angeles Entertainment Law Review 29(3): 375-385.
33. Lakhani, K. R. and R. G. Wolf (2005). Why hackers do what they do: Understanding motivation and effort in free/open source software projects. Perspectives on free and open source software. J. Feller, B. Fitzgerald, S. Hissam and Lakhani. Cambridge, MIT Press: 3-22.
34. Lehner, O. M. (2012). Crowdfunding Social Ventures: A Model and Research Agenda. 2012 Research Colloquium on Social Entrepreneurship. University of Oxford, Skoll Center of SAID Business School UK., Available at SSRN: http://ssrn.com/abstract=2102525.
35. Lin, M. and S. Viswanathan (2013). "Home Bias in Online Investments: An Empirical Study of an Online Crowd Funding Market." SSRN Electronic Journal(2219546).
36. Lohmüller, J. B. (1989). Latent variable path modeling with partial least squares. Heidelberg, Physica Verlag.
37. Mason, C. and M. Stark (2004). "What do Investors Look for in a Business Plan?: A Comparison of the Investment Criteria of Bankers, Venture Capitalists and Business Angels." International Small Business Journal 22(3): 227-248.
38. Massolution (2013). "The Crowdfunding Industry Report."
39. Mollick, E. (2013). "The dynamics of crowdfunding: An exploratory study." Journal of Business Venturing.
40. Mollick, E. R. (2013). "Swept Away by the Crowd?: Crowdfunding, Venture Capital, and the Selection of Entrepreneurs." SSRN Electronic Journal(2239204).
41. Moritz, A. and J. H. Block (2013). "Crowdfunding und Crowdinvesting: State-of-the-Art der wissenschaftlichen Literatur (Crowdfunding and Crowdinvesting: A Review of the Literature)" Available at SSRN: http://ssrn.com/abstract=2274141.
42. Muhdi, L. and R. Boutellier (2011). "Motivational factors affecting participation and collaboration of members in two different Swiss Innovation communities." International Journal of Innovation Management 15(3): 543-562.
43. Nerdinger, F. W. (2006). Motivierung. Lehrbuch der Personalpsychologie. H. Schuler. Göttingen; Bern; Wien; Toronto; Seattle; Oxford; Prag, Hogrefe: 385-404.
44. Ordanini, A., L. Miceli, et al. (2011). "Crowd-funding: transforming customers into investors through innovative service platforms." Journal of Service Management 22(4): 443-470.
45. Ozinga, J. R. (1999). Altruism. Westport; Conn., Praeger.
46. Rheinberg, F. (2006). Motivation. Stuttgart, Kohlhammer.
47. Ringle, C. M. and S. Wende. (2005). "SmartPLS 2.0 (Beta)." from http://www.smartpls.de.
48. Schwienbacher, A. and B. Larralde (2012). Crowdfunding of small entrepreneurial ventures. The Oxford Handbook ENTREPRENEURIAL FINANCE. D. Cumming. New York, Oxford University Press.
49. Stedler, H. and H. H. Peters (2002). Business angels in Deutschland. Hannover; Bonn, tbg.
50. Sullivan, M. K. and A. Miller (1996). "Segmenting the informal venture capital market: Economic, hedonistic, and altruistic investors." Journal of Business Research 36(1): 25-35.
51. von Rosenstiel, L. (2007). Grundlagen der Organisationspsychologie: Basiswissen und Anwendungshinweise. Stuttgart, Schäffer-Poeschel.
52. Walcher, D. (2007). Der Ideenwettbewerb als Methode der aktiven Kundenintegration: Theorie, empirische Analyse und Implikationen für den Innovationsprozess. Wiesbaden, Deutscher Universitäts-Verlag.