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Sustainable aim and personal gain? How sustainable value affects the relation between personal value and crowdfunding success

Author

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  • Siebeneicher, Sven
  • Bock, Carolin

Abstract

We extend the entrepreneurship literature by investigating how the relation between sustainable values and personal value affects crowdfunding success. Therefore, according to the triple bottom line, we disaggregate sustainable values into ecologic, economic, and social value. Relying on the blended value proposition and signaling theory, we identify the value proposed in campaign teasers and descriptions by deriving and employing reliable word lists for text analysis. Our findings suggest that sustainable and personal values positively affect crowdfunding success. The marginal effect of sustainable on personal values increases for teasers but decreases for descriptions. We consider a sample of 45,608 Kickstarter campaigns.

Suggested Citation

  • Siebeneicher, Sven & Bock, Carolin, 2022. "Sustainable aim and personal gain? How sustainable value affects the relation between personal value and crowdfunding success," Technological Forecasting and Social Change, Elsevier, vol. 183(C).
    • Handle: RePEc:eee:tefoso:v:183:y:2022:i:c:s0040162522004590
    DOI: 10.1016/j.techfore.2022.121938
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    Cited by:

    1. Skare, Marinko & Gavurova, Beata & Polishchuk, Volodymyr, 2023. "A decision-making support model for financing start-up projects by venture capital funds on a crowdfunding platform," Journal of Business Research, Elsevier, vol. 158(C).
    2. Sven Siebeneicher & Ilker Yenice & Carolin Bock, 2022. "Financial-Return Crowdfunding for Energy and Sustainability in the German-Speaking Realm," Sustainability, MDPI, vol. 14(19), pages 1-23, September.

    More about this item

    Keywords

    Crowdfunding; Sustainability; Blended value proposition; Signaling theory; Triple bottom line;
    All these keywords.

    JEL classification:

    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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