On the drivers of successful crowdfundingThe case of the platform verkami

  1. Luis Martínez-Cháfer 1
  2. Francesc Xavier Molina-Morales 1
  3. Jesús Peiró-Palomino 2
  1. 1 University Jaume I, Castellón de la Plana, Spain
  2. 2 University of Valencia, Valencia, Spain
Revista:
Business Research Quarterly

ISSN: 2340-9444,  2340-9436

Año de publicación: 2023

Volumen: 26

Número: 3

Páginas: 182-195

Tipo: Artículo

DOI: 10.1177/2340944420985862 DIALNET GOOGLE SCHOLAR lock_openAcceso abierto editor

Otras publicaciones en: Business Research Quarterly

Resumen

This article analyzes the determinants of successful crowdfunding initiatives using a sample of 5,251 projects from the reward-based Spanish platform Verkami. In contrast to most of the literature that has measured success with a dichotomous variable, we approach success with a continuous one, namely the ratio of achievement, which is measured as the obtained resources over the total amount requested by the promoter. We consider a set of potential determinants of success, which are theoretically well-grounded and cover a variety of spheres related to project features. Results suggest that factors related to the signaling theories such as partnership, having previous experience and interaction with backers are positively associated with the achievement ratio, whereas no significant impact is found for the number of rewards. In addition, we find uneven effects for low and high ratios of achievement, identifying the key determinants in different project stages.

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