Reward crowdfunding contribution as planned behaviour: An extended framework

Rotem Shneor & Ziaul Haque Munim

School of Business and Law, University of Agder

& Department of Maritime Operations, University of South-Eastern Norway

Abstract

Reward crowdfunding is a popular channel for entrepreneurial fundraising, where backers receive non-monetary benefits in return for monetary contributions while accepting risks of non-delivery on campaign pitch promises.  To understand contribution behavior in this context, we apply the Theory of Planned Behavior (TPB) for analyzing contribution intentionality and behavior, as well as their antecedents. We use survey data from 560 users of Finland’s leading reward crowdfunding platform– Mesenaatti. Our findings show that an extended TPB model holds for reward crowdfunding and that both financial contribution and information sharing intentions predict behavior. This helps stress the dual nature of reward crowdfunding contribution intentions and behavior, where information sharing aids in reducing information asymmetry and serves as quality signal in support of financial contribution. Moreover, significant differences between high and low sum contributors are presented.

Key Words: Crowdfunding, Theory of Planned Behavior, Attitude, Self-efficacy, Perceived Behavioral Control, Subjective Norms

Cite as: Shneor, R., & Munim, Z. H. (2019). Reward crowdfunding contribution as planned behaviour: An extended framework. Journal of Business Research103, 56-70.

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