IDEAS home Printed from https://ideas.repec.org/a/spr/annopr/v333y2024i2d10.1007_s10479-023-05290-w.html
   My bibliography  Save this article

Investigating the role of data-driven innovation and information quality on the adoption of blockchain technology on crowdfunding platforms

Author

Listed:
  • Abhishek Behl

    (Management Development Institute)

  • Brinda Sampat

    (NMIMS University)

  • Vijay Pereira

    (NEOMA Business School)

  • Nirma Sadamali Jayawardena

    (O P Jindal Global University)

  • Benjamin Laker

    (University of Reading)

Abstract

The purpose of this study is to investigate the role of data-driven innovation and information quality on the adoption of blockchain technology on crowdfunding platforms through adopting a mono method quantitativae approach. Micro-level theoretical perspectives have been less explored in studies of successful crowdfunding innovation than macro-level theoretical perspectives. Furthermore, crowdfunding platforms’ performance varies because of issues like trust, information asymmetry, and transparency of funds flow, among others. There is a solution to these issues in the form of Blockchain Technology (BCT). While BCT has been adopted and used by other businesses, its adoption and usefulness for crowdfunding platforms have not been studied. We investigate crowdfunding platform success using the “task-technology fit theory” and “resource-based view theory”. Authors collected primary level data from task owners of crowdfunding platforms to test the hypotheses. The proposed theoretical model is tested with a sample size of 314 business units, and the proposed hypotheses are tested using Warp PLS 7.0. We also control for the type of crowdfunding activities for our study. The study will help in understanding and improving the success of crowdfunding tasks on crowdfunding platforms. Additionally, it will contribute to TTF and RBV theory as well.

Suggested Citation

  • Abhishek Behl & Brinda Sampat & Vijay Pereira & Nirma Sadamali Jayawardena & Benjamin Laker, 2024. "Investigating the role of data-driven innovation and information quality on the adoption of blockchain technology on crowdfunding platforms," Annals of Operations Research, Springer, vol. 333(2), pages 1103-1132, February.
    • Handle: RePEc:spr:annopr:v:333:y:2024:i:2:d:10.1007_s10479-023-05290-w
    DOI: 10.1007/s10479-023-05290-w
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10479-023-05290-w
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10479-023-05290-w?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Fosso Wamba, Samuel & Queiroz, Maciel M. & Trinchera, Laura, 2020. "Dynamics between blockchain adoption determinants and supply chain performance: An empirical investigation," International Journal of Production Economics, Elsevier, vol. 229(C).
    2. Mi (Jamie) Zhou & Baozhou Lu & Weiguo (Patrick) Fan & G. Alan Wang, 2018. "Project description and crowdfunding success: an exploratory study," Information Systems Frontiers, Springer, vol. 20(2), pages 259-274, April.
    3. Rameshwar Dubey & Angappa Gunasekaran & David J. Bryde & Yogesh K. Dwivedi & Thanos Papadopoulos, 2020. "Blockchain technology for enhancing swift-trust, collaboration and resilience within a humanitarian supply chain setting," International Journal of Production Research, Taylor & Francis Journals, vol. 58(11), pages 3381-3398, June.
    4. Ryu, Sann & Park, JungKun, 2020. "The effects of benefit-driven commitment on usage of social media for shopping and positive word-of-mouth," Journal of Retailing and Consumer Services, Elsevier, vol. 55(C).
    5. Rameshwar Dubey & David J. Bryde & Cyril Foropon & Manisha Tiwari & Yogesh Dwivedi & Sarah Schiffling, 2021. "An investigation of information alignment and collaboration as complements to supply chain agility in humanitarian supply chain," International Journal of Production Research, Taylor & Francis Journals, vol. 59(5), pages 1586-1605, March.
    6. Jiang Duan & Chen Zhang & Yu Gong & Steve Brown & Zhi Li, 2020. "A Content-Analysis Based Literature Review in Blockchain Adoption within Food Supply Chain," IJERPH, MDPI, vol. 17(5), pages 1-17, March.
    7. Sasaki, Shusaku, 2019. "Majority size and conformity behavior in charitable giving: Field evidence from a donation-based crowdfunding platform in Japan," Journal of Economic Psychology, Elsevier, vol. 70(C), pages 36-51.
    8. Cynthia Weiyi Cai, 2018. "Disruption of financial intermediation by FinTech: a review on crowdfunding and blockchain," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 58(4), pages 965-992, December.
    9. Huasheng Zhu & Zach Zhizhong Zhou, 2016. "Analysis and outlook of applications of blockchain technology to equity crowdfunding in China," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 2(1), pages 1-11, December.
    10. Schuetz, Sebastian & Venkatesh, Viswanath, 2020. "Blockchain, adoption, and financial inclusion in India: Research opportunities," International Journal of Information Management, Elsevier, vol. 52(C).
    11. Duarte, Paulo & Costa e Silva, Susana & Ferreira, Margarida Bernardo, 2018. "How convenient is it? Delivering online shopping convenience to enhance customer satisfaction and encourage e-WOM," Journal of Retailing and Consumer Services, Elsevier, vol. 44(C), pages 161-169.
    12. Mollick, Ethan, 2014. "The dynamics of crowdfunding: An exploratory study," Journal of Business Venturing, Elsevier, vol. 29(1), pages 1-16.
    13. Lin William Cong & Zhiguo He, 2019. "Blockchain Disruption and Smart Contracts," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1754-1797.
    14. 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.
    15. Stefan Seebacher & Ronny Schüritz & Gerhard Satzger, 2021. "Towards an understanding of technology fit and appropriation in business networks: evidence from blockchain implementations," Information Systems and e-Business Management, Springer, vol. 19(1), pages 183-204, March.
    16. Kshetri, Nir, 2018. "1 Blockchain’s roles in meeting key supply chain management objectives," International Journal of Information Management, Elsevier, vol. 39(C), pages 80-89.
    17. Schlecht, Laura & Schneider, Sabrina & Buchwald, Arne, 2021. "The prospective value creation potential of Blockchain in business models: A delphi study," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    18. Silvana Secinaro & Davide Calandra & Paolo Biancone, 2021. "Blockchain, trust, and trust accounting: can blockchain technology substitute trust created by intermediaries in trust accounting? A theoretical examination," International Journal of Management Practice, Inderscience Enterprises Ltd, vol. 14(2), pages 129-145.
    19. Jiani Wu & Nguyen Khoi Tran, 2018. "Application of Blockchain Technology in Sustainable Energy Systems: An Overview," Sustainability, MDPI, vol. 10(9), pages 1-22, August.
    20. Kumar, V. & Ramachandran, Divya & Kumar, Binay, 2021. "Influence of new-age technologies on marketing: A research agenda," Journal of Business Research, Elsevier, vol. 125(C), pages 864-877.
    21. Dale L. Goodhue, 1995. "Understanding User Evaluations of Information Systems," Management Science, INFORMS, vol. 41(12), pages 1827-1844, December.
    22. Fisch, Christian, 2019. "Initial coin offerings (ICOs) to finance new ventures," Journal of Business Venturing, Elsevier, vol. 34(1), pages 1-22.
    23. Krystallia Moysidou & J. Piet Hausberg, 2020. "In crowdfunding we trust: A trust-building model in lending crowdfunding," Journal of Small Business Management, Taylor & Francis Journals, vol. 58(3), pages 511-543, May.
    24. Yen, Kuang-Chieh & Cheng, Hui-Pei, 2021. "Economic policy uncertainty and cryptocurrency volatility," Finance Research Letters, Elsevier, vol. 38(C).
    25. Behl, Abhishek & Dutta, Pankaj, 2020. "Engaging donors on crowdfunding platform in Disaster Relief Operations (DRO) using gamification: A Civic Voluntary Model (CVM) approach," International Journal of Information Management, Elsevier, vol. 54(C).
    26. K. T. Shibin & Rameshwar Dubey & Angappa Gunasekaran & Benjamin Hazen & David Roubaud & Shivam Gupta & Cyril Foropon, 2020. "Examining sustainable supply chain management of SMEs using resource based view and institutional theory," Annals of Operations Research, Springer, vol. 290(1), pages 301-326, July.
    27. Queiroz, Maciel M. & Fosso Wamba, Samuel, 2019. "Blockchain adoption challenges in supply chain: An empirical investigation of the main drivers in India and the USA," International Journal of Information Management, Elsevier, vol. 46(C), pages 70-82.
    28. Akash Sinha & Prabhat Kumar & Nripendra P. Rana & Rubina Islam & Yogesh K. Dwivedi, 2019. "Impact of internet of things (IoT) in disaster management: a task-technology fit perspective," Annals of Operations Research, Springer, vol. 283(1), pages 759-794, December.
    29. Kowalski, Michał & Lee, Zach W.Y. & Chan, Tommy K.H., 2021. "Blockchain technology and trust relationships in trade finance," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    30. Na Liu & Zuoliang Ye, 2021. "Empirical research on the blockchain adoption – based on TAM," Applied Economics, Taylor & Francis Journals, vol. 53(37), pages 4263-4275, August.
    31. Tanja Jovanović, 2019. "Crowdfunding: What Do We Know So Far?," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 16(01), pages 1-25, February.
    32. Saura, Jose Ramon & Ribeiro-Soriano, Domingo & Palacios-Marqués, Daniel, 2021. "From user-generated data to data-driven innovation: A research agenda to understand user privacy in digital markets," International Journal of Information Management, Elsevier, vol. 60(C).
    33. Maxime C. Cohen & Ruben Lobel & Georgia Perakis, 2016. "The Impact of Demand Uncertainty on Consumer Subsidies for Green Technology Adoption," Management Science, INFORMS, vol. 62(5), pages 1235-1258, May.
    34. Lu, Liyan & Liang, Changyong & Gu, Dongxiao & Ma, Yiming & Xie, Yuguang & Zhao, Shuping, 2021. "What advantages of blockchain affect its adoption in the elderly care industry? A study based on the technology–organisation–environment framework," Technology in Society, Elsevier, vol. 67(C).
    35. Korzynski, Pawel & Haenlein, Michael & Rautiainen, Mika, 2021. "Impression management techniques in crowdfunding: An analysis of Kickstarter videos using artificial intelligence," European Management Journal, Elsevier, vol. 39(5), pages 675-684.
    36. Joon-Seok Kim & Nina Shin, 2019. "The Impact of Blockchain Technology Application on Supply Chain Partnership and Performance," Sustainability, MDPI, vol. 11(21), pages 1-17, November.
    37. Aydiner, Arafat Salih & Tatoglu, Ekrem & Bayraktar, Erkan & Zaim, Selim, 2019. "Information system capabilities and firm performance: Opening the black box through decision-making performance and business-process performance," International Journal of Information Management, Elsevier, vol. 47(C), pages 168-182.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Pattanayak, Sirsha & Ramkumar, M. & Goswami, Mohit & Rana, Nripendra P., 2024. "Blockchain technology and supply chain performance: The role of trust and relational capabilities," International Journal of Production Economics, Elsevier, vol. 271(C).
    2. Kumar, Sourabh & Barua, Mukesh Kumar, 2023. "Exploring the hyperledger blockchain technology disruption and barriers of blockchain adoption in petroleum supply chain," Resources Policy, Elsevier, vol. 81(C).
    3. Soumyadeb Chowdhury & Oscar Rodriguez-Espindola & Prasanta Dey & Pawan Budhwar, 2023. "Blockchain technology adoption for managing risks in operations and supply chain management: evidence from the UK," Annals of Operations Research, Springer, vol. 327(1), pages 539-574, August.
    4. Kaustov Chakraborty & Arindam Ghosh & Saurabh Pratap, 2023. "Adoption of blockchain technology in supply chain operations: a comprehensive literature study analysis," Operations Management Research, Springer, vol. 16(4), pages 1989-2007, December.
    5. Nguyen, Loan T.Q. & Hoang, Thinh G. & Do, Linh H. & Ngo, Xuan T. & Nguyen, Phuong H.T. & Nguyen, Giang D.L. & Nguyen, Giang N.T., 2021. "The role of blockchain technology-based social crowdfunding in advancing social value creation," Technological Forecasting and Social Change, Elsevier, vol. 170(C).
    6. Teck Ming Tan & Jari Salo, 2023. "Ethical Marketing in the Blockchain-Based Sharing Economy: Theoretical Integration and Guiding Insights," Journal of Business Ethics, Springer, vol. 183(4), pages 1113-1140, April.
    7. Patel, Ritesh & Migliavacca, Milena & Oriani, Marco E., 2022. "Blockchain in banking and finance: A bibliometric review," Research in International Business and Finance, Elsevier, vol. 62(C).
    8. Rodríguez-Espíndola, Oscar & Chowdhury, Soumyadeb & Dey, Prasanta Kumar & Albores, Pavel & Emrouznejad, Ali, 2022. "Analysis of the adoption of emergent technologies for risk management in the era of digital manufacturing," Technological Forecasting and Social Change, Elsevier, vol. 178(C).
    9. Kirti Nayal & Rakesh D. Raut & Balkrishna E. Narkhede & Pragati Priyadarshinee & Gajanan B. Panchal & Vidyadhar V. Gedam, 2023. "Antecedents for blockchain technology-enabled sustainable agriculture supply chain," Annals of Operations Research, Springer, vol. 327(1), pages 293-337, August.
    10. Agi, Maher A.N. & Jha, Ashish Kumar, 2022. "Blockchain technology in the supply chain: An integrated theoretical perspective of organizational adoption," International Journal of Production Economics, Elsevier, vol. 247(C).
    11. Chen, R. & Chen, K. & Ou, Carol, 2023. "Facilitating interorganizational trust in strategic alliances by leveraging blockchain-based systems: Case studies of two eastern banks," Other publications TiSEM 85ecf99c-76f0-416e-9604-d, Tilburg University, School of Economics and Management.
    12. Qingyu Zhang & Salman Khan & Safeer Ullah Khan & Ikram Ullah Khan, 2023. "Understanding Blockchain Technology Adoption in Operation and Supply Chain Management of Pakistan: Extending UTAUT Model With Technology Readiness, Technology Affinity and Trust," SAGE Open, , vol. 13(4), pages 21582440231, October.
    13. Dal Mas, F. & Massaro, M. & Ndou, V. & Raguseo, E., 2023. "Blockchain technologies for sustainability in the agrifood sector: A literature review of academic research and business perspectives," Technological Forecasting and Social Change, Elsevier, vol. 187(C).
    14. Abhishek Behl & Pankaj Dutta & Zongwei Luo & Pratima Sheorey, 2022. "Enabling artificial intelligence on a donation-based crowdfunding platform: a theoretical approach," Annals of Operations Research, Springer, vol. 319(1), pages 761-789, December.
    15. Venkataiah Chittipaka & Satish Kumar & Uthayasankar Sivarajah & Jana Lay-Hwa Bowden & Manish Mohan Baral, 2023. "Blockchain Technology for Supply Chains operating in emerging markets: an empirical examination of technology-organization-environment (TOE) framework," Annals of Operations Research, Springer, vol. 327(1), pages 465-492, August.
    16. Carolin Bock & Sven Siebeneicher & Jens Rockel, 2022. "The “C” in crowdfunding is for co-financing: exploring participative co-financing, a complement of novel and traditional bank financing," Journal of Business Economics, Springer, vol. 92(9), pages 1559-1602, November.
    17. Sahebi, Iman Ghasemian & Mosayebi, Alireza & Masoomi, Behzad & Marandi, Fatemeh, 2022. "Modeling the enablers for blockchain technology adoption in renewable energy supply chain," Technology in Society, Elsevier, vol. 68(C).
    18. Archana A Mukherjee & Rajesh Kumar Singh & Ruchi Mishra & Surajit Bag, 2022. "Application of blockchain technology for sustainability development in agricultural supply chain: justification framework," Operations Management Research, Springer, vol. 15(1), pages 46-61, June.
    19. Lenny Phulong Mamaro & Athenia Bongani Sibindi, 2022. "Financial Sustainability of African Small-to-Medium Enterprises during the COVID-19 Pandemic: Determinants of Crowdfunding Success," Sustainability, MDPI, vol. 14(23), pages 1-14, November.
    20. Simon Albrecht & Bernhard Lutz & Dirk Neumann, 2020. "The behavior of blockchain ventures on Twitter as a determinant for funding success," Electronic Markets, Springer;IIM University of St. Gallen, vol. 30(2), pages 241-257, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:annopr:v:333:y:2024:i:2:d:10.1007_s10479-023-05290-w. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.