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Explaining Crowdfunding Success : The Influence of Platform Features on Funding Goal Achievement in Technology Campaigns
Brinkert, Julian (2025) Explaining Crowdfunding Success : The Influence of Platform Features on Funding Goal Achievement in Technology Campaigns.
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| Abstract: | This research investigates whether and how platform design influences the likelihood that technology crowdfunding campaigns succeed on reward-based platforms. It draws on signalling theory, social-capital theory and two-sided-market theory as a conceptual foundation. The analysis uses data from 739 campaigns across 12 major crowdfunding platforms; all launched between June 2023 and May 2025. A novel index-based framework categorizes platform design into four dimensions: Visibility & Promotion (VP), Trust & Quality Control (TQC), Interaction & Virality (IV), and Accessibility & Friction (AF). The empirical strategy applies cluster-robust logistic regression to estimate the relationship between platform features and campaign success, controlling for key campaign characteristics. The study finds that campaign fundamentals dominate and platform indexes provide mixed effects. The VP and IV indexes have a mild positive effect which is not statistically significant while the TQC and AF indexes are negatively associated with funding success and are statistically significant. This could indicate adverse self-selection, meaning that riskier, capital-intensive projects are attracted by these platforms and drive down success rates. The study provides the first cross-platform evidence of self-selection effects in reward-based technology crowdfunding and offers actionable guidance for entrepreneurs and operators. |
| Item Type: | Essay (Bachelor) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | International Business Administration BSc (50952) |
| Link to this item: | https://purl.utwente.nl/essays/106811 |
| Export this item as: | BibTeX EndNote HTML Citation Reference Manager |
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