Essays on Crowdfunding Adoption and Behavior

The aim of this dissertation is to examine aspects of crowdfunding adoption and behavior. Accordingly, the overarching research question answered by this dissertation is: what influences crowdfunding backers’ contribution intentions and behaviors? The dissertation answers this question while focusing on dimensions of trust, community, and technological acceptance. The dissertation is made up of three studies with one conceptual article (study 1), and two empirical studies (study 2 and 3). The conceptual study marries marketing and trust literatures and contextualizes their implications for the crowdfunding context. The result is the development of a framework of trust-based marketing strategies for crowdfunding campaigns, building on the understanding of the critical role played by trust in crowdfunding adoption by prospective backers. The empirical studies (i.e., study 2 and 3), are based on the analyses of empirical data collected from actual platform users, while using Structural Equation Model techniques. These studies examine the antecedents of backers’ contribution intentions and behavior, specifically in the context of reward crowdfunding in Finland. Study 2 explains backers’ intention and behavior by testing the extensive version of the technology acceptance model (TAM). It confirms the relevance of the TAM model for properly capturing influential antecedents of backers’ financial contribution intentions and behavior and further elaborates on the specific influences of backers’ experiences and voluntariness, which challenge existing conceptualizations from other information and communication technology -related contexts. Study 3 builds on the view of crowdfunding as an embedded phenomenon in online communities, to develop a community-based crowdfunding framework for explaining backers’ contribution intentions and behaviors, while highlighting the roles of community identification and community trust.publishedVersio

Collaborative-demographic hybrid for financial: product recommendation

Internship Report presented as the partial requirement for obtaining a Master's degree in Data Science and Advanced AnalyticsDue to the increased availability of mature data mining and analysis technologies supporting CRM processes, several financial institutions are striving to leverage customer data and integrate insights regarding customer behaviour, needs, and preferences into their marketing approach. As decision support systems assisting marketing and commercial efforts, Recommender Systems applied to the financial domain have been gaining increased attention. This thesis studies a Collaborative- Demographic Hybrid Recommendation System, applied to the financial services sector, based on real data provided by a Portuguese private commercial bank. This work establishes a framework to support account managers’ advice on which financial product is most suitable for each of the bank’s corporate clients. The recommendation problem is further developed by conducting a performance comparison for both multi-output regression and multiclass classification prediction approaches. Experimental results indicate that multiclass architectures are better suited for the prediction task, outperforming alternative multi-output regression models on the evaluation metrics considered. Withal, multiclass Feed-Forward Neural Networks, combined with Recursive Feature Elimination, is identified as the topperforming algorithm, yielding a 10-fold cross-validated F1 Measure of 83.16%, and achieving corresponding values of Precision and Recall of 84.34%, and 85.29%, respectively. Overall, this study provides important contributions for positioning the bank’s commercial efforts around customers’ future requirements. By allowing for a better understanding of customers’ needs and preferences, the proposed Recommender allows for more personalized and targeted marketing contacts, leading to higher conversion rates, corporate profitability, and customer satisfaction and loyalty

Measurement of Visual Cues and Their Effects on Online Users: An Image Mining Approach

Textual marketing communication is effective in various contexts such as print advertising, user-generated content, and social media (Diamond 1968; Ludwig et al. 2013; Nam and Kannan 2014). However, visual marketing communication studies are limited in the context of print advertising (e.g., Hagtvedt and Brasel 2017). This dissertation includes two essays to examine the visual communication effectiveness online. Essay 1 develops a conceptual framework to examine the visual-based brand perception (VBBP) and related concepts on social media. We propose that the VBBP is a co-creational process between a company and its consumers and exhibits three characteristics: i) a two-way communication that both a company and its consumers are pivotal authors of brand stories, ii) a dynamic process that the brand meaning keeps evolving, and iii) a dyadic process between a company and its consumers. In the conceptual model development, we identify six visual attributes as measures of VBBP and adopt a machine learning-based image mining technique to quantify the measures on a large scale. We empirically validate the conceptual model and find that during the co-creational process, both the company and consumer visual-based brand perception information richness (VBBP_R) increase over time. Moreover, in examining the difference between a company and its consumers, we find that there is a visual-based brand perception gap (VBBP_G) between a company and its consumers. From these findings, we advise three marketing communication strategies to help companies manage their VBBP_G. Essay 2 examines a related research question: the joint effects of visual and textual communication on crowdfunding success. Essay 2 extends Essay 1 in three ways: i) we consider both textual and visual marketing communication on another online platform, ii) beyond the concept of perception, we emphasize examining how marketing communication influences a marketing outcome: duration of crowdfunding success, iii) we investigate not only how visual and textual communication influence crowdfunding success individually but also how they influence the outcome jointly. We empirically validate visual communication is more effective than textual communication on a crowdfunding platform. Our findings support an integrated marketing communication strategy that marketers should implement using multiple communication tools in a harmonic way. We demonstrate that the synergistic effect of visual and textual communication has a positive effect on crowdfunding outcome

Can Upward Brand Extensions be an Opportunity for Marketing Managers During the Covid-19 Pandemic and Beyond?

Early COVID-19 research has guided current managerial practice by introducing more products across different product categories as consumers tried to avoid perceived health risks from food shortages, i.e. horizontal brand extensions. For example, Leon, a fast-food restaurant in the UK, introduced a new range of ready meal products. However, when the food supply stabilised, availability may no longer be a concern for consumers. Instead, job losses could be a driver of higher perceived financial risks. Meanwhile, it remains unknown whether the perceived health or financial risks play a more significant role on consumers’ consumptions. Our preliminary survey shows perceived health risks outperform perceived financial risks to positively influence purchase intention during COVID-19. We suggest such a result indicates an opportunity for marketers to consider introducing premium priced products, i.e. upward brand extensions. The risk-as�feelings and signalling theories were used to explain consumer choice under risk may adopt affective heuristic processing, using minimal cognitive efforts to evaluate products. Based on this, consumers are likely to be affected by the salient high-quality and reliable product cue of upward extension signalled by its premium price level, which may attract consumers to purchase when they have high perceived health risks associated with COVID-19. Addressing this, a series of experimental studies confirm that upward brand extensions (versus normal new product introductions) can positively moderate the positive effect between perceived health risks associated with COVID-19 and purchase intention. Such an effect can be mediated by affective heuristic information processing. The results contribute to emergent COVID-19 literature and managerial practice during the pandemic but could also inform post-pandemic thinking around vertical brand extensions

CORPORATE SOCIAL RESPONSIBILITY IN ROMANIA

The purpose of this paper is to identify the main opportunities and limitations of corporate social responsibility (CSR). The survey was defined with the aim to involve the highest possible number of relevant CSR topics and give the issue a more wholesome perspective. It provides a basis for further comprehension and deeper analyses of specific CSR areas. The conditions determining the success of CSR in Romania have been defined in the paper on the basis of the previously cumulative knowledge as well as the results of various researches. This paper provides knowledge which may be useful in the programs promoting CSR.Corporate social responsibility, Supportive policies, Romania

Promotional Ubiquitous Musics: New Identities and Emerging Markets in the Digitalizing Music Industry

This dissertation examines the intensifying relationship between the digitalizing music industry and corporate brands. It analyzes the ‘crisis’ and recuperation of popular music’s commodity form in the digital era; in an increasingly post-CD music marketplace, it argues, ‘artist-brands’ tied to multiple revenue streams and licensed to brand partners constitute the foundation of music’s capitalization. Contemporaneous with key shifts in music marketing and monetization strategies, advertising firms have taken increased interest in branded entertainment strategies that employ popular music. These colliding commercial dynamics have produced a proliferation of what I term ‘promotional ubiquitous musics’: original music by recording artists used by consumer and media brands with the intent of promoting something other than the featured artist or music. The attendant collapse of popular music into marketing is interpreted through a neo-Adornian theoretical frame: it is argued that the ‘culture industry’ thesis assumes new and important relevance in the digital era, even as the ubiquitous circulation of diverse musics exemplifies post-Fordist flexibility. The instrumentalization of music under this branding paradigm has produced new levels of recording artist subordination and stratification, and has placed firm limits on popular musical expression. Deploying cultural and social theory and political economy, this critical analysis also draws on an interview program with executives at record labels, music publishers, advertising firms, and music supervision companies based in Toronto, New York City, and Los Angeles; rigorous tracking of trade press; and attendance at industry conferences

Competition Law and Economic Regulation

Shaping markets through competition and economic regulation is at the heart of addressing the development challenges facing countries in southern Africa. The contributors to 'Competition Law And Economic Regulation: Addressing Market Power In Southern Africa' critically assess the efficacy of the competition and economic regulation frameworks, including the impact of a number of the regional competition authorities in a range of sectors throughout southern Africa. Featuring academics as well as practitioners in the field, the book addresses issues common to southern African countries, where markets are small and concentrated, with particularly high barriers to entry, and where the resources to enforce legislation against anti-competitive conduct are limited. What is needed, the contributors argue, is an understanding of competition and regional integration as part of an inclusive growth agenda for Africa. By examining competition and regulation in a single framework, and viewing this within the southern African experience, this volume adds new perspectives to the global competition literature. It is an essential reference tool and will be of great interest to policymakers and regulators, as well as the rapidly growing ecosystem of legal practitioners and economists engaged in the field

New Fundamental Technologies in Data Mining

The progress of data mining technology and large public popularity establish a need for a comprehensive text on the subject. The series of books entitled by "Data Mining" address the need by presenting in-depth description of novel mining algorithms and many useful applications. In addition to understanding each section deeply, the two books present useful hints and strategies to solving problems in the following chapters. The contributing authors have highlighted many future research directions that will foster multi-disciplinary collaborations and hence will lead to significant development in the field of data mining

Glitched Rhetorics: Online Deliberation of New Technology

This dissertation examines public deliberation on the social media site reddit regarding two controversial technologies: Alexa and Bitcoin. Such vernacular deliberation of prominent new technologies is widespread online and increasingly significant—with Alexa and Bitcoin generating numerous controversies throughout the 2010s & early 2020s—yet understudied by rhetoric and media scholars. Arguments for and against the technologies consistently emerge, and so I ask: What are the terms, patterns, and logics in the binarized reddit deliberations of emergent technology? There is also an alternative rhetorical practice of those conflicted and ambivalent, yet not absent from the deliberations. I name it glitching, a paleologism used to describe a digital version of a transhistorical and transgressive anti-idealism (i.e., kynicism). My second question is: In what way do redditors glitch the deliberation of emergent technology? Rhetorical-archaeological analysis and digital rhetorical ethnography are the methods I utilize to answer the first and second questions, respectively. Arguments for Alexa employ terms “connect,” “work,” and “convenience,” in patterns emphasizing expertise and rationality, toward a logic of technological progress. “Listening” and “labor” are the terms which appear throughout anti-Alexa posts and comments, in patterns resembling investigative journalism, to advance a logic of economic justice. Pro-Bitcoin arguments employ terms “buy” and “celebration,” in a pattern resembling that of speculative finance, undergirding a logic of prosperity technology. “Privacy” and “scam” are the terms which appear throughout anti-Bitcoin posts and comments, in a pattern of technical expertise which supports logics of technological and financial skepticism. Glitched rhetorics are ambivalent and irreverent interruptions in the binary oscillation of vernacular deliberation about technology which frequently appear in online fora, and closely resemble the kynicism of Diogenes of Sinope. The glitched rhetorics about Alexa and Bitcoin diverge in extremeness, but share embrace of risk and use of sexual vulgarity to challenge customs and interrupt sober deliberations which otherwise lead to the synthesis of managed decline. Glitched rhetorics are not the collective action necessary for systemic change in the matter of society’s relationship to technology, but as a kynical signal not unlike the barking of a dog they persistently reveal that such action is necessary

Determining key drivers of crowdfunding success and exploring the social nature of crowdfunding

Initially seen as a way for individuals to raise money for causes or projects through the collective effort of friends and family, crowdfunding provides start-ups the opportunity to bypass traditional financing methods, and instead raise capital for their venture from customers and investors. Unlike traditional investing, crowdfunding success relies on a large number of individuals giving small amounts of money. This means crowdfunding campaigns are constantly looking to increase their chances of success, and stand out from other campaigns. In order to do this, crowdfunding campaigns are increasingly using social media to convey their message and project across to potential backers. Therefore, the objective of this thesis is to identify key drivers that impact crowdfunding success and explore the social nature of crowdfunding. This thesis was initiated by a literature review that examined factors that impact the success of crowdfunding campaigns. While providing a comprehensive background on the determinants of success, this study also illustrates several potential avenues for future research. First, it highlights the lack of research surrounding discussion around the campaign outside of the crowdfunding platform, particularly with equity crowdfunding. This study also shows the need for more research exploring how successful campaigns were after the crowdfunding campaign. After this literature review, the first quantitative study analyses how campaigns use social media to communicate with the crowd outside of the crowdfunding platform. Findings show that engagement with the crowd on social media positively impacted the success of crowdfunding campaigns. This study also suggests that, while within-platform information sharing influences the overall funding, it is the multi-platform information sharing across social media that allows fundraising to exceed initial targets and tap into different social bonding behaviours (hedonic funding). Building on research into social media and equity crowdfunding, the third study examines rewards-based crowdfunding, analysing how the fundraiser’s social network changes over the course of the campaign. Findings from this paper show that the strength and breadth of the social network can impact whether the campaign reaches its funding goal. The final study explores the second gap found in the literature; the lack of research surrounding the success of crowdfunding campaigns post-fundraising. This research paper examines the impact a crowdfunding campaign has on public sentiment, analysing how sentiment changes in the six months after the campaign. This thesis has implications for theory, practice, and future research. First, I provide a novel perspective on crowdfunding success, showing it is not only reaching a funding target, but should be measured across different stages of the campaign. This thesis also introduces the idea that crowdfunding is a social collaboration. Through unique analysis of these campaigns and backers, along with the relationship between social media and crowdfunding, I find several factors that influence the success of campaigns. Finally, this thesis also highlights a number of interdependencies that exist, which can also impact the success of campaigns. These findings and implications are discussed at length in the final chapter