Research on the Interaction Mechanism of Reward Business Model: Based on Panel VAR Model

Abstract

Abstract:

Reward model as an emerging business model has been adopted by many platforms, while the interactive relationship of the key factors within this model lacks in-depth theory elaboration and empirical examination. To make up the research gap, this paper, taking the reward model of WeChat platform as the research object, establishes empirical models to analyze the interaction of the influence of we-media, the quality of User-Generated Content (UGC) and the number of rewarders. The results show that, firstly, in the static relationship, the quality of UGC and the influence of we-media both have significant positive effect on the number of rewarders; secondly, in the dynamic relationship, while the influence of we-media has positive lagged impact on the number of rewarders and the number of rewarders has positive feedback effect on the influence of we-media, the quality of UGC has negative lagged impact on the number of rewarders and the number of rewarders has no significant feedback effect on the quality of UGC. This research is the first one to deeply investigate the dynamic interaction of key factors in the reward business model based on empirical models, and expands the incentive effect research of uncertain monetary reward, possessing important practical significance for the implication and sustainable development of reward business model.

Key words: reward, the quality of UGC, the influence of we-media, business model, panel VAR model

Lei Yushang, Yang Hailong. Research on the Interaction Mechanism of Reward Business Model: Based on Panel VAR Model[J]. , 2019, 31(9): 169-183.

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