The crowdfunding of innovation projects: The value of sponsors' citizenship behaviors

Abstract

Abstract: The combination of Internet with private capital, especially the online social network, generates a new financing channel of crowdfunding, in which the sponsors not only invest in crowdfunding projects, but also voluntarily help the entrepreneurs implement the projects. Therefore, how to improve project implementation performance with the sponsor citizenship behaviors is an important academic question. Based on the value co-creation theory and the research in value and satisfaction, this paper investigated the antecedents of sponsor citizenship behaviors and their effects on his/her satisfaction. We made three theoretical contributions as follows. First, we are one of the first to analyze crowdfunding project implementation from the value co-creation perspective. Second, this paper uncovered the relationships among sponsor citizenship behaviors, community benefits and sponsor satisfaction. Finally, we identified the antecedents of sponsor citizenship behaviors as perceived project risk, project novelty, and project social responsibility.

Key words: crowdfunding, citizenship behavior, satisfaction, community benefit, value co-creation

CLC Number:

F832.48

Zheng Haichao, Yang Tingting, Chen Dongyu, Wan Neng. The crowdfunding of innovation projects: The value of sponsors' citizenship behaviors[J]. Science Research Management, 2015, 36(11): 37-46.

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