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Crowdfunding in Vietnam : the impact of project and founder quality on funding success

Nguyen, T. (2017) Crowdfunding in Vietnam : the impact of project and founder quality on funding success.

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Abstract:This study seeks to give an analytical understanding of crowdfunding in Vietnam by examining the impact of project quality and founder quality on the success of crowdfunding. Based on a sample of 122 crowdfunding projects on Vietnamese platforms, three factors are found to drive successful fundraising. In particular, the presence of more quality signals and provision of additional founder information are associated with a higher probability of success. These findings confirm the role of quality in project outcomes. By having more project and founder quality indicators, the information asymmetry problem becomes less severe and investors have more trust to invest in a project. Further analyses conducted separately for two types of crowdfunding show that the main results hold for the equity-based subsample. Meanwhile, in reward-based crowdfunding, the impact on success becomes weaker for project quality signals and insignificant for founder quality signals. The explanation for this difference lies in both the average amount of investment involved and the degree of riskiness of the specific crowdfunding type.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/73270
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