Empirical Analysis of Business Model and Operation Mechanisms of Crowdfunding: The Case of Kickstarter

Abstract

Abstract:

Crowdfunding plays an important role in promoting regional economic development, labor, innovation and entrepreneurship. Today, huge gaps and differences exist in crowdfunding industry between China and USA. This paper proposes a brand new business model for crowdfunding, especially for the donation-based crowdfunding such as Kickstarter, examines the correlation mechanism between market behavior and social effect, and their impact on crowdfunding performance. Additionally, we conduct an empirical test for these effects with a unique Kickstarter crowdfunding panel data set. The empirical study shows that market behavior and social effect have a significant effect on crowdfunding practical application.

Key words: crowdfunding, business model, Kickstarter, market behavior, social effect

Tian Xin, Song Yan, Cao Shasha, Wu Tian. Empirical Analysis of Business Model and Operation Mechanisms of Crowdfunding: The Case of Kickstarter[J]. , 2019, 31(7): 210-224.

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