Donation-Based Crowdfunding: Converting Financial Capital Into Symbolic Capital

Abstract

This article contributes to the existing donation literature by addressing the knowledge gap in the impact of the symbolic capital of charity endorsers on the intention to donate. It explores the interplay between the symbolic capital of the endorser, donor intentions, and social media self-disclosure in the context of charitable giving via crowdfunding platforms. Drawing on Bourdieu’s theory of capital conversion and social exchange theory, the study examines how the symbolic capital of the endorsers of charitable organizations influences donation behavior. A PLS-SEM analysis of the data obtained via a representative survey of 976 respondents suggests that donors exchange financial capital for symbolic capital of charity endorser to enhance their social recognition (i.e., symbolic capital), a process facilitated by self-disclosure on social media. This study confirms the presence of a generalized social exchange mechanism and highlights the critical roles of symbolic capital and social media in shaping charitable intentions.