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What explains the success of reward-based crowdfunding campaigns as they unfold? Evidence from the French crowdfunding platform KissKissBankBank

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  • Mikael Petitjean

    (LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

Abstract

Using hand-collected data from a French crowdfunding platform, we identify several success factors that backers value when they decide to support reward-based campaigns. We show that these success factors evolve as the campaign unfolds. The first week of the campaign is of particular interest. We validate most of the conclusions drawn for reward-based crowdfunding in the US and we argue that reward-based and equity-based crowdfunding campaigns seem to driven by similar success factors.

Suggested Citation

  • Mikael Petitjean, 2018. "What explains the success of reward-based crowdfunding campaigns as they unfold? Evidence from the French crowdfunding platform KissKissBankBank," Post-Print hal-01916371, HAL.
    • Handle: RePEc:hal:journl:hal-01916371
    DOI: 10.1016/j.frl.2017.11.005
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    References listed on IDEAS

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    1. Massimo G. Colombo & Chiara Franzoni & Cristina Rossi–Lamastra, 2015. "Internal Social Capital and the Attraction of Early Contributions in Crowdfunding," Entrepreneurship Theory and Practice, , vol. 39(1), pages 75-100, January.
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    Cited by:

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    2. Hsieh, Hui-Ching & Hsieh, Ying-Che & Vu, Thi Huyen Chi, 2019. "How social movements influence crowdfunding success," Pacific-Basin Finance Journal, Elsevier, vol. 53(C), pages 308-320.
    3. Shuangfa Huang & David Pickernell & Martina Battisti & Thang Nguyen, 2022. "Signalling entrepreneurs’ credibility and project quality for crowdfunding success: cases from the Kickstarter and Indiegogo environments," Small Business Economics, Springer, vol. 58(4), pages 1801-1821, April.
    4. Xiaobei Liang & Xiaojuan Hu & Jiang Jiang, 2020. "Research on the Effects of Information Description on Crowdfunding Success within a Sustainable Economy—The Perspective of Information Communication," Sustainability, MDPI, vol. 12(2), pages 1-36, January.
    5. Han-Chiang Ho & Candy Lim Chiu & Somkiat Mansumitrchai & Zhengqing Yuan & Nan Zhao & Jiajie Zou, 2021. "The Influence of Signals on Donation Crowdfunding Campaign Success during COVID-19 Crisis," IJERPH, MDPI, vol. 18(14), pages 1-25, July.
    6. Nguyen, Thang & Cox, Joe & Rich, Judy, 2019. "Invest or regret? An empirical investigation into funding dynamics during the final days of equity crowdfunding campaigns," Journal of Corporate Finance, Elsevier, vol. 58(C), pages 784-803.
    7. Veronica Crescenzo & Angelo Bonfanti & Paola Castellani & Alfonso Vargas-Sánchez, 2022. "Effective entrepreneurial narrative design in reward crowdfunding campaigns for social ventures," International Entrepreneurship and Management Journal, Springer, vol. 18(2), pages 773-800, June.
    8. Peter Konhäusner & Marius Thielmann & Veronica Câmpian & Dan-Cristian Dabija, 2021. "Crowdfunding for Independent Print Media: E-Commerce, Marketing, and Business Development," Sustainability, MDPI, vol. 13(19), pages 1-17, October.
    9. Salahaldin, Linda & Varma, Vineeth S. & Elayoubi, Salah Eddine, 2022. "When and how to intervene for saving an entrepreneur’s crowdfunding campaign," Finance Research Letters, Elsevier, vol. 50(C).
    10. Nevena Dobreva, 2019. "The Characteristics of Bulgarian Reward-Based Crowdfunding Campaigns," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 8(1), pages 174-182, April.
    11. Anna Prisco & Valerio Muto & Ciro Troise & Mario Tani, 2022. "How to Engage the Crowds to Create Value? Evidence from the Pathfinder Arena Case," Sustainability, MDPI, vol. 14(7), pages 1-22, April.

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