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Open Innovation in Crowdfunding Context: Diversity, Knowledge, and Networks

Author

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  • Chien-Chi Chu

    (Department of Finance, Business School of Shantou University, Guangdong 528400, China)

  • Ya-Fang Cheng

    (Department of Business Administration, Cheng Shiu University, Kaohsiung 83347, Taiwan)

  • Fu-Sheng Tsai

    (Department of Business Administration, Cheng Shiu University, Kaohsiung 83347, Taiwan
    Center for Environmental Toxin and Emerging-Contaminant Research, Cheng Shiu University, Kaohsiung 83347, Taiwan
    Super Micro Mass Research and Technology Center, Cheng Shiu University, Kaohsiung 83347, Taiwan)

  • Sang-Bing Tsai

    (Zhongshan Institute, University of Electronic Science and Technology of China, Guangdong 528400, China
    School of Business, Wuyi University, Wuyishan 354300, China)

  • Kun-Hwa Lu

    (Department of Business Administration, Cheng Shiu University, Kaohsiung 83347, Taiwan)

Abstract

Open innovation is an essential phenomenon in the crowdfunding context. This conceptual piece tends to offer an integrative discussion of three important mechanisms upon which stakeholders of a crowdfunding platform conduct open innovation and value co-creation in crowdfunding sites. These mechanisms include: diversity, knowing, and networking. We argued that: 1. diverse demographic attributes facilitate multiple-party value co-creation; 2. knowledge of platform stakeholders improves quality of ideas; 3. networking positively impacts on open innovation performance. With such discussions, a theoretical foundation for future research is built and more research issues are stimulated.

Suggested Citation

  • Chien-Chi Chu & Ya-Fang Cheng & Fu-Sheng Tsai & Sang-Bing Tsai & Kun-Hwa Lu, 2019. "Open Innovation in Crowdfunding Context: Diversity, Knowledge, and Networks," Sustainability, MDPI, vol. 11(1), pages 1-11, January.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:1:p:180-:d:194212
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    References listed on IDEAS

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    Cited by:

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    3. Myung Ja Kim & C. Michael Hall, 2019. "Can Co-Creation and Crowdfunding Types Predict Funder Behavior? An Extended Model of Goal-Directed Behavior," Sustainability, MDPI, vol. 11(24), pages 1-23, December.
    4. Ruo-Yu Liang & Wei Guo & Ling-Hao Zhang & Lei Wang, 2019. "Investigating Sustained Participation in Open Design Community in China: The Antecedents of User Loyalty," Sustainability, MDPI, vol. 11(8), pages 1-19, April.
    5. Maria Kukurba & Mariusz Salwin & Aneta Ewa Waszkiewicz, 2023. "Model of Value Transfer in Crowdfunding and Sustainable Development of Small and Medium-Sized Enterprises in Poland—Based on Survey Research," Sustainability, MDPI, vol. 15(16), pages 1-55, August.
    6. Peter Konhäusner & Marius Thielmann & Veronica Câmpian & Dan-Cristian Dabija, 2021. "Crowdfunding for Independent Print Media: E-Commerce, Marketing, and Business Development," Sustainability, MDPI, vol. 13(19), pages 1-17, October.
    7. Yan Song & Xin Tian, 2020. "Managerial Responses and Customer Engagement in Crowdfunding," Sustainability, MDPI, vol. 12(8), pages 1-13, April.
    8. Eleni N. Arvaniti & Agapi Dima & Chrysostomos D. Stylios & Vagelis G. Papadakis, 2022. "A New Step-by-Step Model for Implementing Open Innovation," Sustainability, MDPI, vol. 14(10), pages 1-17, May.

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