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Analyzing crowdfunding adoption from a technology acceptance perspective

Author

Listed:
  • Okine, Agnes Naa Dedei
  • Li, Yao
  • Djimesah, Isaac Edem
  • Zhao, Hongjiang
  • Adjei Budu, Kenneth Wilson
  • Duah, Elijah
  • Kissi Mireku, Kingsford

Abstract

The adoption of crowdfunding technology has not been successful on the African continent as compared to the developed continent. This problem has called for investigations into some factors that can promote the adoption of crowdfunding on the African continent. An extended technology and acceptance model was proposed to empirically test how crowdfunding can be adopted. Data was collected empirically using a questionnaire from 542 stakeholders of the crowdfunding platform, mostly SME and Startup business owners, to seek their opinion on how the adoption of this financial technology can be feasible. The outcome of the data analysis revealed that all the identified factors positively influence the adoption of crowdfunding based on the intention to use crowdfunding platform, with R2 values of 93% and 73.8% for intention to use crowdfunding and crowdfunding adoption, respectively. The outcome of the research model proposes that crowdfunding adoption is influenced by factors such as perceived ease of use and perceived usefulness of crowdfunding, smart device usage readiness, technology readiness and adoption, and intention to use crowdfunding platform. This study offers valuable insight into the extended technology acceptance model and how crowdfunding can be adopted.

Suggested Citation

  • Okine, Agnes Naa Dedei & Li, Yao & Djimesah, Isaac Edem & Zhao, Hongjiang & Adjei Budu, Kenneth Wilson & Duah, Elijah & Kissi Mireku, Kingsford, 2023. "Analyzing crowdfunding adoption from a technology acceptance perspective," Technological Forecasting and Social Change, Elsevier, vol. 192(C).
    • Handle: RePEc:eee:tefoso:v:192:y:2023:i:c:s0040162523002676
    DOI: 10.1016/j.techfore.2023.122582
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