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Cultural entrepreneurship and legitimate distinctiveness in international prosocial crowdfunding

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  • Jancenelle, Vivien E.
  • Javalgi, Rajshekhar (Raj) G.
  • Cavusgil, Erin

Abstract

Prosocial crowdfunding is a recent international business phenomenon which allows entrepreneurs from emerging nations to post microloan requests online for fundraising. While the crowdfunding topic has attracted much academic interest in recent years, little is known about the effect of cultural differences on crowdfunding dynamics. This study draws on the cultural entrepreneurship literature to assess whether a borrower’s cultural alignment with his or her own country increases or decreases funding speed. We investigate whether prosocial lenders reward borrower profiles that cue cultural distinctiveness through a Computer-Aided-Text-Analysis (CATA) of 127,597 profile loan descriptions and observations nested within 37 countries. It is found that cultural alignment on two dimensions—temporal awareness and commonality—is positively related to funding time, thus suggesting that a cultural misalignment is preferred by lenders. Our discussion highlights why nonconformity to local culture may be interpreted as legitimate distinctiveness in the prosocial crowdfunding context.

Suggested Citation

  • Jancenelle, Vivien E. & Javalgi, Rajshekhar (Raj) G. & Cavusgil, Erin, 2019. "Cultural entrepreneurship and legitimate distinctiveness in international prosocial crowdfunding," International Business Review, Elsevier, vol. 28(4), pages 802-810.
    • Handle: RePEc:eee:iburev:v:28:y:2019:i:4:p:802-810
    DOI: 10.1016/j.ibusrev.2019.04.002
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    Cited by:

    1. Emanuel-Correia, Ricardo & Duarte, Fábio & Gama, Ana Paula Matias & Augusto, Mário, 2022. "Does peer-to-peer crowdfunding boost refugee entrepreneurs?," Finance Research Letters, Elsevier, vol. 46(PA).
    2. Srivastava, Saurabh & Singh, Shiwangi & Dhir, Sanjay, 2020. "Culture and International business research: A review and research agenda," International Business Review, Elsevier, vol. 29(4).
    3. Williamson, Amanda J. & Short, Jeremy C. & Wolfe, Marcus T., 2021. "Standing out in crowdfunded microfinance: A topic modeling approach examining campaign distinctiveness and prosocial performance," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    4. Douglas Cumming & Sofia Johan & Zaheer Khan & Martin Meyer, 2023. "E-Commerce Policy and International Business," Management International Review, Springer, vol. 63(1), pages 3-25, February.
    5. Riviere, Monica & Romero-Martínez, Ana M., 2021. "Network embeddedness, headquarters entrepreneurial orientation, and MNE international performance," International Business Review, Elsevier, vol. 30(3).
    6. Ana Paula Matias Gama & Ricardo Emanuel Correia & Mário Augusto & Fábio Duarte, 2023. "Third-party signals in crowdfunded microfinance: which microfinance institutions boost crowdfunding among refugee entrepreneurs?," Small Business Economics, Springer, vol. 61(2), pages 559-586, August.
    7. Hartwell, Christopher A. & Devinney, Timothy M., 2024. "The demands of populism on business and the creation of “corporate political obligations”," International Business Review, Elsevier, vol. 33(2).

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