IDEAS home Printed from https://ideas.repec.org/a/spr/elcore/v24y2024i2d10.1007_s10660-024-09815-8.html
   My bibliography  Save this article

The impact of past fundraising experiences on the fundraising performance of equity crowdfunding projects

Author

Listed:
  • Xue Yang

    (Nanjing University)

  • Huiling Wang

    (Shenzhen Institute of Information Technology)

  • Fangyue Li

    (Home Link Shanghai)

Abstract

Currently, small and medium-sized enterprises (SMEs) have been the mainstay of technological innovation. Given the paucity of financial support, equity crowdfunding has become a popular way for SMEs to obtain project funds in recent years. Based on all successful crowdfunding projects on Seedrs, an equity crowdfunding platform, we delved into the impact of the content not displayed on project’s presentation page, particularly past fundraising experiences, on fundraising performance. Additionally, we empirically explored the influence of three dimensions, namely whether there was past fundraising experience, the number of past fundraising experience(s), and the amount of the last fundraising, on the fundraising ratio and the number of investors. The research results indicate that (1) the fundraising ratio is not significantly related to whether there was past fundraising experience and the number of past fundraising experience(s), but positively related to the amount of the last fundraising; (2) the number of investors is not significantly related to whether there was past fundraising experience, but positively related to the number of past fundraising experience(s) and negatively related to the amount of the last fundraising. Theoretically, we explored the relations between the information not displayed and fundraising performance from the perspective of past fundraising experience, supplementing and enriching the related research. Practically, we revealed the information searching behaviors of investors and guided the crowdfunding platforms in the information display.

Suggested Citation

  • Xue Yang & Huiling Wang & Fangyue Li, 2024. "The impact of past fundraising experiences on the fundraising performance of equity crowdfunding projects," Electronic Commerce Research, Springer, vol. 24(2), pages 1385-1405, June.
    • Handle: RePEc:spr:elcore:v:24:y:2024:i:2:d:10.1007_s10660-024-09815-8
    DOI: 10.1007/s10660-024-09815-8
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10660-024-09815-8
    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/s10660-024-09815-8?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.

    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:elcore:v:24:y:2024:i:2:d:10.1007_s10660-024-09815-8. 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.

    We have no bibliographic references for this item. You can help adding them by using 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.