Catching fire and spreading it: A glimpse into displayed entrepreneurial passion in crowdfunding campaigns.

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ID: 51136
2017
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Abstract
Crowdfunding is an emerging phenomenon that enables entrepreneurs to solicit financial contributions for new projects from mass audiences. Drawing on the elaboration likelihood model of persuasion and emotional contagion theory, the authors examined the importance of displayed entrepreneurial passion when seeking resources in a crowdfunding context. They proposed that entrepreneurs' displayed passion in the introductory video for a crowdfunding project increases viewers' experienced enthusiasm about the project (i.e., passion contagion), which then prompts them to contribute financially and to share campaign information via social-media channels. Such sharing further facilitates campaign success. In addition, the authors proposed that perceived project innovativeness strengthens the positive effect of displayed passion on social-media exposure and the funding amount a project garners. They first tested their hypotheses in 2 studies using a combination of survey and archival data from the world's 2 most popular crowdfunding platforms: Indiegogo (Study 1) and Kickstarter (Study 2). They then conducted an experiment (Study 3) to validate the proposed passion contagion process, and the effect of displayed entrepreneurial passion at the individual level. Findings from these 3 studies significantly supported their hypotheses. The authors discuss the theoretical and practical implications of their findings. (PsycINFO Database Record
Reference Key
li2017catchingthe Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Li, Junchao Jason;Chen, Xiao-Ping;Kotha, Suresh;Fisher, Greg;
Journal the journal of applied psychology
Year 2017
DOI
10.1037/apl0000217
URL
Keywords
authoring tools and methods computer-mediated communication cross-cultural projects interdisciplinary project multimedia/hypermedia system

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