What drives crowdfunding participation? The influence of personal and social traits

Abstract

Purpose - Crowdfunding has become a popular and achievable means of funding projects worldwide. The purpose of this study is to determine which personal and social traits can increase individuals’ intention to participate in crowdfunding. Design/methodology/approach - This study examines innovativeness, attitudes toward helping others and interpersonal connectivity as determinants of consumers’ intention to participate in crowdfunding. Social identification with the crowdfunding community is proposed as amediator in the model. Findings - The results show that both social identification with the crowdfunding community and innovativeness have a positive effect on intention to participate. In addition, attitudes toward helping others and interpersonal connectivity indirectly affect intention to participate in crowdfunding through social identification with the crowdfunding community. Research limitations/implications - This study analyzes a general audience of potential crowdfunders; therefore, the results identify just the indications for potential intentions to participate in crowdfunding activities. Practical implications - Companies or fund-seekers currently using or expecting to use crowdfunding have to develop strategies focused on promoting social identification with the crowdfunding community. More effort should be devoted for developing consumers’ social relationships and ties within the crowdfunding community. Originality/value - This study contributes to the literature by clarifying the characteristics that potential crowdfunders should have to be more prone to participate in these types of projects.