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Restaurant entrepreneurs are increasingly leveraging crowdfunding as an alternative financing mechanism. In the context of restaurant crowdfunding, studies have identified factors related to campaign communication that affect crowdfunding success from the entrepreneurs’ perspective. Integrating a funder perspective, this study aims to investigate the role of the consumption value offered by rewards and builds a value-based understanding of restaurant crowdfunding.

This study uses a sample of 3,134 restaurant campaigns launched on the Kickstarter crowdfunding platform, and texts of 34,128 rewards were analyzed using a Python program. A hierarchical linear regression approach with a generalized logistic regression model was adopted to test hypothesized relationships.

Drawing upon consumption value theory (CVT), this study finds that in restaurant crowdfunding, utilitarian value holds a strong inverted-U relationship and participatory value holds a strong linear relationship with crowdfunding success. However, socioemotional value does not have a significant effect on outcomes. This study also finds evidence for positive effects of greater variety, higher number of rewards and lower average pledge level on restaurant crowdfunding success.

This study extends the literature on restaurant crowdfunding by integrating insights on the effects of value offered through rewards. Primarily, this study finds evidence for distinct effects of consumption values for restaurant crowdfunding audience. Practically, this study holds implications for reward menu design and value offering design for restaurant entrepreneurs seeking crowdfunding.

Restaurant crowdfunding has been studied to a limited extent, with extant literature focusing on characteristics of campaign descriptions. The role of rewards is uncovered using CVT and thus a value-based understanding of restaurant crowdfunding is presented.

Crowdfunding can be an effective fundraising vehicle to independent restaurants to overcome fundraising limitations due to its small-size and high risk. A few studies have identified contents of communication for successful crowdfunding, yet missing is on how to say. The purpose of this paper is to investigate linguistics styles that are effective in pitches in restaurant crowdfunding.

The study analyzed 500 restaurant crowdfunding projects listed on Kickstarter.com that is one of the most popular crowdfunding platforms with sizable restaurant projects. By text analysis, this study identifies four linguistic categories – concrete, precise, interactive and language with low psychological distancing – from the project descriptions. A binominal linear regression analysis identified effective language styles that increases success of restaurant crowdfunding.

Drawing on the language expectancy theory and uncertainty reduction theory, this study found that project descriptions that are concrete and delivering stories with fewer usage of first person pronouns are likely to succeed in restaurant fundraising. Interactive style was counter-effective while preciseness of language did not affect funding success significantly. Findings further reveal the roles of non-linguistic attributes shown in the project pitches.

Despite the increasing practice of restaurant crowdfunding and good matches with small- and medium-sized restaurants’ needs, scant research has been conducted. Notably absent from the research is work on linguistic styles that are effective in restaurant crowdfunding. This study extends the prior literature by investigating how restaurant entrepreneurs should communicate with potential crowdfunders to make crowdfunding successful in the restaurant context. Simply knowing what are important does not provide holistic help to restaurant entrepreneurs; they also should know how to communicate well.

The findings of this study are important for restaurant entrepreneurs who need to present their projects and communicate effectively with potential investors online. Based on the study’s findings, crowdfunding platforms could enhance their project posting systems by developing algorithm that automatically measures language cues embedded in a project description and providing suggestions to improve persuasiveness of languages to maximize funding success for restaurant projects.

Scant research has been conducted in the restaurant crowdfunding; prior crowdfunding literature has focused on the projects other than restaurants such as technology, design and film. This study is the first that uncovers the role of the linguistic styles for the specific context of restaurant crowdfunding. This study sheds the light on the critical communication strategies used by small-sized restaurant entrepreneurs on crowdfunding platform.

In recent years, crowdfunding is assuming an increasingly central role in the development of business projects as an alternative financing tool to traditional sources. This study analyses the role of communication in the success of crowdfunding campaigns in the restaurant sector in the European context.

This study conducts a regression analysis on a sample of 442 European restaurant crowdfunding projects launched on the Kickstarter platform in a time period spanning from 2014 to 2021. More specifically, this study uses a logistic regression model to test the impact of communication on the success of restaurant crowdfunding projects.

Empirical results suggest a strong impact of communication, declined in its different forms, on the success of restaurant crowdfunding campaigns. More specifically, they highlight a positive impact of the number of images, number of videos, readability and community orientation of the project description, number of comments and number of updates on the success of restaurant crowdfunding projects.

To the best of the authors’ knowledge, this study represents the first research that examines the effect of the communication on the success of restaurant crowdfunding projects conducted in the European context.

In 2020, the COVID-19 pandemic had a devastating impact on global health care and the economy. The restaurant industry has been especially hit hard by the statewide “stay-at-home” orders. To get back on track, many of these businesses need capital. A new and effective form of fundraising for business startups is crowdfunding (CF). However, there has been little research on the pandemic impact on CF. This study aims to fill this gap by investigating the pandemic-related impact on restaurant CF.

This study extracted all 2,686 restaurant CF projects in the USA from the Kickstarter platform from April 2010 to January 2021. By conducting descriptive analyses and multiple logistic regression models, this study examined the pandemic impact on CF success.

This study finds that, while controlling the effects of other determinants, businesses in the midst of the pandemic are more likely to be successfully funded than businesses unaffected by the pandemic. Findings also reveal that restaurant startups lowered their funding goals and posted more updates/comments/pledge levels during the pandemic, which made projects more likely to be selected as a “Project We Love” and increased the odds of funding success. However, mentioning COVID-19-related information or locating projects in “red zones” are not found to have any significant direct or moderating impact on the funding success.

This study pioneers the research topic restaurant CF and attempts to raise the research attention of small- and medium-sized enterprises and entrepreneurial financing. Using quantitative methods, it provides a new perspective on pandemic-impact research. Social exchange theory is extended to the context of reward-based CF under crisis. Finally, to the best of the authors’ knowledge, this is the first investigation of the possible moderating effect of project location on the relationship between restaurant CF characteristics and success.

The findings of this study suggest restaurateurs to be confident about the fundraising of their startup business through reward-based CF, even when located within so-called pandemic red zones, and perform appropriate communication strategies while using the reward-based CF.

This study is one of the earliest to examine the main and moderating effects of the pandemic-related factors on business CF in the hospitality realm. The findings are reference for researchers and restaurateurs on fundraising in a crisis context.

Prior research treated entrepreneurs’ actions as purely opportunistic and voluntary, excluding social and economic systems’ influence on entrepreneurial actions. However, the applications of communication strategies, project management and social network are anchored in socioeconomic systems in which the entrepreneurs are rooted. To address the gap, this study aims to articulate – through the prism of institutional theory – how restaurant crowdfunding (CF) success is affected by socioeconomic prosperity according to entrepreneurs’ race and geographic area.

The current study analyzed 2,008 restaurant CF projects launched in the USA through the Kickstarter platform from 2010 to 2020. By conducting one-way analysis of variance and multilevel mixed-effect logistic regression models, this study examined the relative socioeconomic prosperity and CF success according to the race of the restaurant entrepreneurs. The study also examined how socioeconomic prosperity affected CF success and how that relationship was moderated by the entrepreneurs’ level of restaurant experience.

This study finds that relative socioeconomic prosperity and CF success does differ according to race. Also in the CF context, lower socioeconomic prosperity does impede fundraising success. While the level of restaurant experience significantly increased an entrepreneur’s CF success, the impact was not so significant as to overcome the impact of socioeconomic prosperity.

Drawing on institutional theory, this study examines the impact of socioeconomic prosperity on CF project outcomes. By uncovering the significant impact of socioeconomic systems on CF success, this study fills the research gap. Previous studies have generally treated minority entrepreneurs as an aggregated form. The authors’ results extend the literature by including major ethnic groups – whites, African Americans and Asians.

The findings of the current study show restaurant entrepreneurs can raise the likelihood of CF success by doing two things: first, accumulate experience in the restaurant industry; second, use their CF websites to highlight testimonials about the value of that experience. Federal, state and local governments can institute policies to help improve racial minorities’ socioeconomic conditions and thereby promote startups’ fundraising success.

To the best of the authors’ knowledge, this study is one of the first to examine unexplored institutional effect on CF outcomes. It examines how and why socioeconomic factors affect minority entrepreneurs’ funding success. It compares the prosperity and CF success of white, African American and Asian entrepreneurs.

Building a cycling route is an interesting example of sustainable, environmentally friendly leisure and tourism project and this also fosters innovation in eco-friendly transport options. Financial resources must be found to achieve these ambitious goals and crowdfunding could be the answer. The study analyses the factors that influence potential backers' decisions to contribute to the fundraising campaign.

A Fuzzy-set Qualitative Comparative Analysis (FsQCA) was applied to elaborate a map of factors that could influence the process of the crowd's contribution to a crowdfunding round for supporting the enhancement of a cycling route. The factors taken into account were the motivations to contribute, the crowdfunder's features and the dynamics of the fundraising campaign.

The results demonstrate the strategic role played by rewards in the design of a crowdfunding round for a sustainable tourism and leisure project. The results also add more insights by considering backers' attitudes to rewards.

Understanding the factors that can influence the decision to pledge in the tourism and leisure context has extremely valuable implications for tourism businesses developing the business idea and associated capital raising strategies. The study also has practical implications for all institutions trying to foster innovation in eco-friendly transport, particularly in promoting more cycling and improving the image of cycling in the culture.

The study is a step forward in understanding the factors that lead backers to support a sustainable project in the tourism and leisure context and the related dynamics of the crowdfunding round.

The economic crisis triggered by the COVID-19 pandemic seriously jeopardized small businesses. To survive, many small businesses turned to their networks by launching crowdfunding “rescue” campaigns, which were very successful in eliciting both funding and community support. This study aims to explain this success from the backers' perspective by addressing support intentions in uncertain times. The authors examine backers' paradoxical behavior by investigating the influence of ambiguity aversion (individual uncertainty), business-level uncertainty and environmental uncertainty on backers' intentions to support small businesses and the interaction of uncertainty with backers' well-being.

Survey data from 230 backers of small business rescue campaigns were analyzed using structural equation modeling.

The findings indicate that ambiguity aversion negatively dominates backers' support intentions. However, under the mediating effect of well-being, business-level and environmental uncertainties positively impact backers' intentions, whereas ambiguity aversion becomes non-significant.

Uncertainties are supposed to have a negative influence on individual well-being. By contrast, this study shows that backers' well-being is influenced by the context of the crowdfunding campaign. Uncertain conditions can provide value in addition to the benefits gained by backers from supporting crowdfunding campaigns.

This study investigates the relationship between the individual’s levels of innovativeness (ILI) and the individual’s intention to finance (IIF) an equity crowdfunding campaign to understand whether and to what extent individuals' personalities (IP) can foster crowdfunding success.

OLS models are applied based on survey data collected from 385 US and UK citizen respondents. Further, the baseline relationship between ILI and IIF is broken down on the basis of the interactions with two behavioral characteristics: proactive personality (PP) and openness to experience (OE).

Results show a positive relationship between individual’s levels of innovativeness and the individual’s intention to finance an equity crowdfunding campaign. Furthermore, this relationship continues to be positive when moderators are introduced in the models, demonstrating that PP and OE are personal traits that strengthen the main relationship.

Our findings contribute to enriching the stream of literature according to which equity crowdfunding is a helpful tool not only able to bridge the financial gap of companies during the first phase of their life cycle. The findings also contribute to the development of the innovation process, creating also a social identity within the crowdfunding community.

The aim of the study is to examine the role of crowdfunding in entrepreneurial development with the help of a systematic review of the literature and bibliometric analysis.

The present research employed bibliometric analysis to study collected data from the database. Using proper keywords, data was retrieved from Scopus. With the scaler and analytical method of bibliometric analysis, the research attempts to answer the following questions, including prominent journals, authors, keywords and cluster analysis based on keyword occurrence. The mapping/networking chart is created using the VOSviewer software.

The result of the study suggests that it is an attractive and emerging phenomenon for academicians. The most papers were published in 2021, Small Business Economics and California Management Review are the most prolific journals, while Vismara S is the most significant author with 4 publications and 488 citations. Short JC, School of Management, Royal Holland and USA collaborate most. Cluster analysis of the study will help the future researcher to broaden the existing literature utilising the distinct topics.

This research aids entrepreneurs, academia, crowdfunding practitioners and policymakers in identifying application areas for crowdfunding. In conclusion, crowdfunding will enhance the entrepreneurial ecosystem.

This study elaborates the significance of crowdfunding in the development of entrepreneurship, using SLR and bibliometric analysis. The study findings identified crowdfunding's usage, applications and potential future research areas, as well as evaluated, reviewed and assessed their significance in entrepreneurial development. The theme-based cluster was determined based on the frequency of occurrence of the keywords.

Crowdfunding is a relatively new alternative method of raising capital for new ventures. In recent years, crowdfunding has also gained prominence within the food industry. On the basis of signaling theory, this study aims to analyze the success factors of vegan crowdfunding campaigns, which remains unexplored in academia.

This study employs a logistic regression analysis on a sample of 200 vegan crowdfunding campaigns launched in Europe between 2014 and 2021 on the popular crowdfunding platform Kickstarter.

The results show that the number of images, comments and updates as well as the readability of project descriptions positively impact the success rate of vegan crowdfunding campaigns. Furthermore, the length of the project description has a negative effect, whereas the number of videos has no bearing on the success of vegan crowdfunding campaigns.

To the best of the authors' knowledge, this study pioneers examining the success factors of vegan crowdfunding campaigns. This study enriches the literature in several ways. First, this study contributes to an open debate on the success factors of crowdfunding. Second, this study provides knowledge about the factors that can favor the success of vegan initiatives. Third, this study confirms the usefulness of signaling theory as a theoretical framework for understanding vegan crowdfunding.