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The Dynamics of Funding Behaviors in Reward-Based Crowdfunding Projects

By Zhuolan Bao, Yuxing Yang and Michael Chau


With the growing popularity of crowd-funded markets, smaller manufactories and entrepreneurs are regarding crowdfunding as their main venue of financing. To better understand the dynamic behaviors of participants (i.e. backers) and supplement existing works in crowdfunding research, the paper studies how early backers’ funding decisions influence the later participants in a special reward-based crowdfunding projects. By using vector autoregressive models, we plan to find empirical evidence for the existence of herding and bystander effects in our research context while controlling for strong signals of founders’ quality. With this research-in-progress, preliminary results and discussion are provided

Topics: Crowdfunding, reward-based, herding effect, bystander effect, vector autoregressive models, E-Commerce, Management Information Systems
Publisher: AIS Electronic Library (AISeL)
Year: 2019
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