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The Second Round Resource Acquisition of Entrepreneurial Crowdfunded Ventures: The Relevance of Campaign and Project Implementation Performance Outcomes

Author

Listed:
  • Tuo Gladys
  • Yi Feng
  • Wang Wenxin

    (School of Management and Economics, University of Electronic Science and Technology of China, Chengdu, 610054, China)

  • Sarpong Solomon

    (Department of Statistics, University for Development Studies, Navrongo Campus, Tamale, Ghana)

Abstract

This study focused on crowdfunded ventures in the reward-based model and explored the relevance of their essential campaign and project implementation performance outcomes on the second round of resource acquisition. This research considered funding from accredited and unaccredited investors, additional crowd capital, and other forms of resources from other business investors. Results from sampled crowdfunded ventures on the Kickstarter and projects official websites revealed that the determinants of first round crowdfunding project campaign traction, reward delivery scheduled date, campaign duration, and reward delivery performance outcomes predict the second round of resource acquisition. Furthermore, the results suggest that project creators’ crowdfunding risk awareness is a relevant determinant of reward delivery performance outcome and access to the second round of resource. The findings are significant for the decision-making of entrepreneurs, investors, and crowdfunding platforms, as these parties benefit from the informational value of campaign and project implementation performance outcomes.

Suggested Citation

  • Tuo Gladys & Yi Feng & Wang Wenxin & Sarpong Solomon, 2020. "The Second Round Resource Acquisition of Entrepreneurial Crowdfunded Ventures: The Relevance of Campaign and Project Implementation Performance Outcomes," Entrepreneurship Research Journal, De Gruyter, vol. 10(3), pages 1-21, July.
    • Handle: RePEc:bpj:erjour:v:10:y:2020:i:3:p:21:n:4
    DOI: 10.1515/erj-2018-0123
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    Cited by:

    1. Anton Miglo, 2022. "Theories of Crowdfunding and Token Issues: A Review," JRFM, MDPI, vol. 15(5), pages 1-28, May.

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