Sustainability-oriented projects are prevalent on crowdfunding platforms nowadays. The relationship between crowdfunding and sustainability has attracted the attention of many scholars. This study aims to examine the effects of perceived sustainability orientation on value-co-creation behavior from the perspective of backers and explore the mediation effects of three psychological factors: perceived affective reaction, perceived self-effectiveness and perceived risk.
The study recruits 455 backers to evaluate 100 projects on a crowdfunding platform. Structural equation modeling based on partial least squares is used to analyze data and test the hypotheses.
The results show that perceived sustainability orientation influences value-co-creation behavior through perceived affective reaction and self-effectiveness. Furthermore, perceived sustainability orientation impacts participation behavior through perceived risk.
Our study mainly focuses on sustainability-oriented and reward-based crowdfunding projects. Future research can examine other types of projects and other crowdfunding platforms.
These findings can provide implications for project creators to improve the values co-created with backers in future sustainability-oriented projects. Furthermore, the findings can provide implications for backers and help them evaluate crowdfunding projects.
The existing studies are mostly concerned with project creators’ perspectives. This paper is one of the few to investigate how a project’s sustainability orientation influences backers’ psychological factors and value-co-creation behavior.
This research was partially supported by the National Social Science Fund of China (Grant No. 20AZD059) and the Ministry of Science and Technology in Taiwan (Grant No. 111-2410-H-194–029 -MY2). In addition, the authors thank the editors and anonymous reviewers for their constructive comments to enhance the paper’s quality.
Submission declaration and verification: The authors formally declare that this paper’s content is the original work. It has not been published previously in any media, including journals, conferences, or websites. It is not being reviewed by any editorial office of publishers. All cited materials have been properly credited with citations in the contexts and the References section.
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CRediT authorship contribution statement: Xiaojuan Hu: Conceptualization, Methodology, Investigation, Formal analysis, Visualization, Writing - original draft. Xiaobei Liang: Supervision, Project administration, Resources. Eldon Y. Li: Methodology, Supervision, Visualization, Writing - review and editing. Hu Meng: Data curation.
Submission declaration and verification: The authors formally declare that the content of this paper is their original work. It has not been published previously in any media, including journals, conferences, or websites. It is not being reviewed by any editorial office of publishers. All cited materials have been properly credited with citations in the contexts and the References section.
Ethics statement: Not required for this study.
Declarations of interest: No competing interest exists in funding, employment, financial or non-financial interests.
Liang, X., Hu, X., Li, E.Y. and Meng, H. (2023), "Untangling the influence of perceived sustainability orientation on value-co-creation behavior in crowdfunding process: investigating a mediation model", Internet Research, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/INTR-12-2021-0921
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