Search results

1 – 10 of over 28000
Article
Publication date: 12 January 2023

Anastasia Giakoumelou, Nicola Raimo, Felice Petruzzella and Filippo Vitolla

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

British Food Journal, vol. 125 no. 7
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 16 January 2007

Susan H.C. Tai

This study aims to investigate the relationship between successful brand advertising campaigns in China and various factors such as message/creativity, media selection, market…

9616

Abstract

Purpose

This study aims to investigate the relationship between successful brand advertising campaigns in China and various factors such as message/creativity, media selection, market research, competition, market share, product uniqueness, and agency/client relationships.

Design/methodology/approach

The data for the study were collected by mailing a questionnaire to 283 advertising agencies executives who were selected from the All‐Asia Ad Agency Guide. A total of 1,086 questionnaires were sent out and 163 were returned for a response rate of 15 per cent. Factor analysis was first used to identify various success factors, and ANOVA was used to compare the means of each factor related to the degree of success of the campaign. Correlation analysis was then used to examine the relationship between successful brand advertising campaign and various success factors.

Findings

The results of the ANOVA indicate that there are significant relationships between some items in each factor and the degree of success of an advertising campaign. Correlation analysis further reveals that message/creativity, media selection, market research, market share, and product uniqueness are significantly related to the success of brand advertising in China. No significant relationship is found between brand success and competition or agency/client relationship.

Research limitations/implications

The respondents may have been biased about the extent to which their advertising campaigns are successful or how creative an advertisement should be. Their perceptions of successful or creative advertising could be very different, especially in relation to those questions that asked respondents to critique their own work. All of these affect the rigor of the study. Another limitation of the study is the low response rate. If the sample size had been large enough, comparisons could have been made concerning the correlates of successful brand advertising across different regions in China.

Originality/value

In addition to providing researchers with further understanding of brand advertising in China, this study provides some insights about the ways in which multinational advertising managers contribute to successful brand advertising.

Details

Asia Pacific Journal of Marketing and Logistics, vol. 19 no. 1
Type: Research Article
ISSN: 1355-5855

Keywords

Article
Publication date: 10 February 2021

Bree Dority, Sarah J. Borchers and Suzanne K. Hayes

This study aims to investigate how the language used in US Title II equity crowdfunding campaign descriptions relates to campaign success.

Abstract

Purpose

This study aims to investigate how the language used in US Title II equity crowdfunding campaign descriptions relates to campaign success.

Design/methodology/approach

Data on >3,200 equity offerings from 12 Title II platforms was obtained from 2013 to 2016. The aspects of the campaign descriptions that are focused on are tone and two measures of readability: information quantity – the amount of information available to the investor and information quality – the ease of understanding of the passage of text. Tobit regressions with sector-clustered standard errors are used for estimation while controlling for company-specific variables, market sentiment and platform, regional, sector and time effects. Results are robust to alternative estimation approaches.

Findings

Inverse U-shaped relationships exist between information quantity, information quality and tone and Title II equity crowdfunding campaign success. Overall, less is more as it appears that an intermediate level of information – quantity, quality and tone – is optimal in terms of being a factor that contributes to equity crowdfunding campaign success.

Originality/value

Extends the use of textual analysis to the equity crowdfunding environment in the USA where such analysis is lacking and provides empirical evidence that the language used (e.g. sentiment) in US Title II equity-based crowdfunding campaign descriptions does influence campaign success. It provides empirical evidence of and extends the concept of information overload to the entrepreneurial finance sub-field and indicates tone may be an additional information attribute to consider in this context as contributing to overload.

Details

Studies in Economics and Finance, vol. 38 no. 4
Type: Research Article
ISSN: 1086-7376

Keywords

Open Access
Article
Publication date: 16 July 2021

Monica Rossolini, Alessia Pedrazzoli and Alessandro Ronconi

Recognising the growing importance of environmental and sustainable activities and the role of communication strategies in soliciting their financing, this work investigates the…

3991

Abstract

Purpose

Recognising the growing importance of environmental and sustainable activities and the role of communication strategies in soliciting their financing, this work investigates the influence of message framing, green emphasis and quantitative information on the probability of green crowdfunding campaigns' success.

Design/methodology/approach

This analysis is based on crowdfunding campaigns published between 2015 and 2020 on the Indiegogo platform in the category “Community projects – Environment”. The study develops an in-depth qualitative content analysis of the projects before performing an empirical examination to determine funding causes.

Findings

Communication strategies (message framing, green emphasis and quantitative goals) affect funding success. However, project category moderates the impact of message framing and green emphasis on campaign success. While positive framing increases agri-food campaign success, negative framing is more effective for clean energy and climate preservation projects. Moreover, indication of a quantitative goal and a marked green emphasis in a project's presentation increase campaign success, but a too marked green emphasis is only effective for agri-food projects.

Practical implications

Green entrepreneurs and campaign managers must work carefully on their projects' communication, accounting for the type of product proposed, emphasising green components in its description and utilising quantitative information to present future goals. These strategies maximise backers' responses and enable entrepreneurs to obtain funding. The authors’ findings may be extended to other contexts, including the banking sector, to craft effective communication strategies for green financial products.

Originality/value

By applying framing theory in a new context (i.e. the online financing of green entrepreneurs), this study identifies new campaign success determinants and provides evidence for the moderating role of project category. Furthermore, the study highlights the need to develop different communication strategies for social and environmental-oriented projects.

Details

International Journal of Bank Marketing, vol. 39 no. 7
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 30 November 2021

Shaista Wasiuzzaman and Nur Firzanah Suhili

This study aims to investigate the drivers of successful equity crowdfunding campaigns in Malaysia.

Abstract

Purpose

This study aims to investigate the drivers of successful equity crowdfunding campaigns in Malaysia.

Design/methodology/approach

Data for this study are collected manually from 5 different equity crowdfunding platforms in Malaysia. A total of 101 campaigns are analyzed, out of which the final sample used for this study is 97. The relationships are analyzed via ordinary least squares multiple regression analysis.

Findings

The results of the analysis show that minimum funding target, minimum investment required, pre-money valuation and length of pitch video are highly significant in influencing the success of the campaign. Percentage of equity retained is only significant at the 10% level. The size of the project team and the text length of the pitch are found to be insignificant. In addition, all the variables, except for equity retained and the minimum investment required, are found to have a positive impact on the success of an equity crowdfunding campaign in Malaysia.

Originality/value

To the best of the authors’ knowledge, this is the first study that investigates the success factors of equity crowdfunding campaigns in a developing country such as Malaysia. In addition, this study contributes to the literature on equity crowdfunding success via the inclusion of less-studied variables such as pre-money valuation and minimum investment required.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 15 no. 2
Type: Research Article
ISSN: 2053-4604

Keywords

Article
Publication date: 17 January 2022

Antonio Salvi, Nicola Raimo, Felice Petruzzella and Filippo Vitolla

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…

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

British Food Journal, vol. 124 no. 12
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 14 July 2023

Xiaochen Liu, Yukuan Xu, Qiang Ye and Yu Jin

Fierce competition in the crowdfunding market has resulted in high failure rates. Owing to their dedication and efforts, many founders have relaunched failed campaigns as a…

Abstract

Purpose

Fierce competition in the crowdfunding market has resulted in high failure rates. Owing to their dedication and efforts, many founders have relaunched failed campaigns as a second attempt. Despite the need for a better understanding, the success of campaign relaunches has not been well-researched. To fill this research gap, this study first theorizes how founders’ learning may enhance their competencies and influence investors’ attribution of entrepreneurial failure. The study then empirically documents the extent and conditions under which such learning efforts impact campaign relaunch performance.

Design/methodology/approach

This study examines 5,798 Kickstarter-relaunched campaigns. The founders’ learning efforts are empirically captured by key changes in campaign design that deviate from past business practices. Word movers’ distances and perceptual hashing algorithms (pHash) are used separately to measure differences in campaign textual descriptions and pictorial designs.

Findings

Differences in textual descriptions and pictorial designs during campaign failure–relaunch are positively associated with campaign relaunch success. The impacts are further amplified when the previous failures are more severe.

Originality/value

This study is one of the first to examine the success of a campaign relaunch after an initial failure. This study contributes to a better understanding of founders’ learning in crowdfunding contexts and provides insights into the strategies founders can adopt to reap performance benefits.

Details

Internet Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1066-2243

Keywords

Article
Publication date: 13 July 2020

Demetris Vrontis, Michael Christofi, Enrico Battisti and Elvira Anna Graziano

This paper explores knowledge sharing (KS) and intellectual capital (IC) impacts on the success rate of equity crowdfunding (EC) campaigns in the Italian market, which represents…

1231

Abstract

Purpose

This paper explores knowledge sharing (KS) and intellectual capital (IC) impacts on the success rate of equity crowdfunding (EC) campaigns in the Italian market, which represents a new model for financing entrepreneurial initiatives.

Design/methodology/approach

The relation between KS, IC and the success rate of EC campaigns is analysed with a panel regression that measures IC through the value added intellectual coefficient. Social network analysis is used to measure KS in the users' network on Twitter for EC campaigning. Specifically, the authors consider the information users exchange on social networks as a proxy of KS and identify the hubs influencing information dissemination, the size and strength of networks for each EC campaign. Finally, the success rate of EC campaigns is a ratio of the number of positive campaigns to the total number of campaigns for each platform.

Findings

The success rate of EC campaigns is positively related to IC and significantly and positively related to the number of connections the EC platforms have.

Practical implications

The positive relationship between the hub role of social network platforms and the success of EC campaigns provides an important signal to crowdfunding operators. As more potential investors focus on an EC campaign, a bandwagon effect could involve uninformed investors. This result is crucial in order to better understand how social media activity affects crowdfunding success.

Originality/value

Although the literature has examined the impact of KS on general firm performance and the mediating role of intellectual capital, no prior studies have examined the impacts of KS and IC on the success rate of EC campaigns in a specific market.

Details

Journal of Intellectual Capital, vol. 22 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

Book part
Publication date: 28 August 2020

Simona Leonelli, Francesca Di Pietro and Francesca Masciarelli

Crowdfunding campaigns reflect the personality traits of the entrepreneur, influencing the chances of a successful fundraising. In this study, the authors focus on three different…

Abstract

Crowdfunding campaigns reflect the personality traits of the entrepreneur, influencing the chances of a successful fundraising. In this study, the authors focus on three different entrepreneurs’ personality dark traits: narcissism, Machiavellianism and psychopathy. Through a text analysis of 338 equity-crowdfunding campaigns in the UK, the authors identified narcissistic expressions used by entrepreneurs in their pitches, and their impact on funding success. The authors found an inverted U-shape relationship between entrepreneurs’ narcissism and the crowdfunding success. On the other hand, entrepreneurs’ psychopathy has a negative linear relationship with crowdfunding success. This study contributes to the entrepreneurship literature, highlighting the importance of displayed entrepreneurs’ personality traits in engaging with crowd investors.

Details

The Entrepreneurial Behaviour: Unveiling the cognitive and emotional aspect of entrepreneurship
Type: Book
ISBN: 978-1-78973-508-6

Keywords

Article
Publication date: 30 October 2023

Fereshteh Zihagh, Masoud Moradi and Vishag Badrinarayanan

Adopting a brand prominence perspective, this study aims to examine how textual and visual brand elements influence the success of crowdfunding campaigns for aftermarket offerings.

Abstract

Purpose

Adopting a brand prominence perspective, this study aims to examine how textual and visual brand elements influence the success of crowdfunding campaigns for aftermarket offerings.

Design/methodology/approach

A Python-based Web scraper was used to collect data from 620 crowdfunding campaigns for aftermarket offerings hosted on Kickstarter. The linguistic inquiry and word count application programing interface was then used to analyze the linguistic aspects of these campaigns. A fixed effects regression model was used to evaluate the hypotheses.

Findings

Textual and visual brand prominence are positively associated with campaign success. Further, with some variations, both types of brand prominence augment the positive effects of narrative and graphic design elements on campaign success.

Research limitations/implications

This study makes novel theoretical contributions to the literature on branding, crowdfunding and aftermarket products. The results also provide practical insights to aftermarket enterprises on creating compelling crowdfunding campaigns.

Originality/value

By analyzing the direct and synergistic effects of branding, narrative and graphic design elements on crowdfunding success, this study extends various literature streams and identifies several future research opportunities.

Details

Journal of Product & Brand Management, vol. 33 no. 1
Type: Research Article
ISSN: 1061-0421

Keywords

1 – 10 of over 28000