Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/137280
|
| Title: | 群眾募資成效分析 配音、信號交乘效果之影響
An Analysis of Crowdfunding Effectiveness: the Influence of Voice Acting and Interaction Effects between Different Signals |
| Authors: | 關貫中
Kuan, Kuan-Chung |
| Contributors: | 簡睿哲
Jean, Ruey-Jer
關貫中
Kuan, Kuan-Chung |
| Keywords: | 群眾募資
信號理論
配音
交互作用
Crowdfunding
Signal theory
Voice acting
Interaction effects |
| Date: | 2020 |
| Issue Date: | 2021-10-01 10:02:19 (UTC+8) |
| Abstract: | 群眾募資(Crowdfunding)指的是透過在網路公開發佈，並以捐贈、交換未來產品或其他形式的獎勵方式獲取資金來支持特定的計畫。而在群眾募資的市場當中，集資者(即為提案者)與潛在贊助者存在嚴重的資訊不對稱，而信號理論專門用於這樣具有資訊不對稱的市場，集資者藉由各種有質量的訊號來減少潛在贊助者資訊上的落差。
本研究即是透過信號理論的基礎來對群眾募資市場進行實務上的研究，然而，除了訊號帶來的影響，訊號間的交互作用在信號理論的架構下也是值得探討的議題，內文中參考過去文獻，針對「影片品質」、「贊助者評論」、以及「集資者過去經驗」三者個別的作用，以及其兩兩間的交互作用進行分析。特別是影片品質，在過去文獻當中被視為是重要卻鮮少拿來著重討論的。因此，本文透過配音與否以及配音的語言進行進一步分析影片的品質對於群眾募資成效所帶來的影響。透過分析得出以下結論
1. 當信號來源皆出自於集資者，例如集資者過去經驗和影片品質，這些訊號被認為都是屬於集資者可控制的因素，這樣的信號在潛在贊助者的一方被認為有一定的替代效果，因此兩兩間的交互作用為負。
2. 配音與否以及配音語言的差異確實能成為衡量影片品質的新的衡量方式，國外配音語言相較於國內配音與無配音能夠更有效降低潛在贊助者與集資者間的資訊不對稱。
The term “crowdfunding” refers to the practice of raising funds for a specific project publicly via the internet. Whilst it may be donation-based, it may also involve the pre-selling of products or other forms of rewards. In markets for crowdfunding, the severe information asymmetry persists between fundraisers (i.e. project initiators) and potential funders. The signal theory, which is specifically applied to such markets with severe information asymmetry, indicated that fundraisers tend to utilize diversified high-quality signals to reduce the information gap between them and potential funders.
This article empirically studied the markets for crowdfunding based on the signal theory. In addition to the influence of signals, however, the interaction effects between different signals under the framework of the signal theory is an issue required further discussions.
Extending from previous research, this article focused on the effect of “the quality of videos”, “comments from funders”, and “fundraisers’ previous experiences” respectively, and analyze the interaction effects between each pair of three variables. Although previous literature has noted that the quality of videos is important, the exact effect if less discussed. Thus, by examine whether a project adopted voice acting and the language of voice acting, this article went further to understand the influence of the quality of videos on the crowdfunding effectiveness. After analysis, the conclusion is made as below:
1. When two signals are from fundraisers, such as fundraisers’ previous experience and the quality of videos, the interaction effect between them is negative because two signals are substitutable for potential fundraisers.
2. Whether the voice acting is adopted and which language is used are indeed new ways to evaluate the quality of videos. Compared with videos acted in foreign languages, those videos acted in local language or without voice acting can reduce the information asymmetry between funders and fundraisers more efficiently. |
| Reference: | Ahlers, G. K., Cumming, D., Günther, C., & Schweizer, D. (2015). Signaling in equity crowdfunding. Entrepreneurship Theory and Practice, 39(4), 955-980.
Akerlof, G. A. (1978). The market for “lemons”: Quality uncertainty and the market mechanism Uncertainty in economics (pp. 235-251): Elsevier.
Allison, T. H., Davis, B. C., Webb, J. W., & Short, J. C. (2017). Persuasion in crowdfunding: An elaboration likelihood model of crowdfunding performance. Journal of business venturing, 32(6), 707-725.
Anglin, A. H., Short, J. C., Drover, W., Stevenson, R. M., McKenny, A. F., & Allison, T. H. (2018). The power of positivity? The influence of positive psychological capital language on crowdfunding performance. Journal of business venturing, 33(4), 470-492.
Baum, J. A., & Silverman, B. S. (2004). Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups. Journal of business venturing, 19(3), 411-436.
Belleflamme, P., Lambert, T., & Schwienbacher, A. (2010). Crowdfunding: An industrial organization perspective. Paper presented at the Prepared for the workshop Digital Business Models: Understanding Strategies’, held in Paris on June.
Bi, S., Liu, Z., & Usman, K. (2017). The influence of online information on investing decisions of reward-based crowdfunding. Journal of Business Research, 71, 10-18.
Chan, C. R., & Parhankangas, A. (2017). Crowdfunding innovative ideas: How incremental and radical innovativeness influence funding outcomes. Entrepreneurship Theory and Practice, 41(2), 237-263.
Chen, S., Thomas, S., & Kohli, C. (2016). What Really Makes a Promotional Campaign Succeed on a Crowdfunding Platform?: Guilt, Utilitarian Products, Emotional Messaging, And Fewer But Meaningful Rewards Drive Donations. Journal of Advertising Research, 56(1), 81-94.
Chen, Y., & Xie, J. (2005). Third-party product review and firm marketing strategy. Marketing Science, 24(2), 218-240.
Connelly, B. L., Certo, S. T., Ireland, R. D., & Reutzel, C. R. (2011). Signaling theory: A review and assessment. Journal of management, 37(1), 39-67.
Courtney, C., Dutta, S., & Li, Y. (2017). Resolving information asymmetry: Signaling, endorsement, and crowdfunding success. Entrepreneurship Theory and Practice, 41(2), 265-290.
Danilov, A., & Sliwka, D. (2017). Can contracts signal social norms? experimental evidence. Management Science, 63(2), 459-476.
Estellés-Arolas, E., & González-Ladrón-De-Guevara, F. (2012). Towards an integrated crowdsourcing definition. Journal of Information science, 38(2), 189-200.
Fischer, E., & Reuber, R. (2007). The good, the bad, and the unfamiliar: The challenges of reputation formation facing new firms. Entrepreneurship Theory and Practice, 31(1), 53-75.
Gafni, H., Marom, D., & Sade, O. (2019). Are the life and death of an early‐stage venture indeed in the power of the tongue? Lessons from online crowdfunding pitches. Strategic Entrepreneurship Journal, 13(1), 3-23.
Giudici, G., Guerini, M., & Rossi-Lamastra, C. (2018). Reward-based crowdfunding of entrepreneurial projects: the effect of local altruism and localized social capital on proponents’ success. Small Business Economics, 50(2), 307-324.
Hsu, D. H. (2007). Experienced entrepreneurial founders, organizational capital, and venture capital funding. Research policy, 36(5), 722-741.
Jancenelle, V. E., Javalgi, R. R. G., & Cavusgil, E. (2018). The role of economic and normative signals in international prosocial crowdfunding: An illustration using market orientation and psychological capital. International Business Review, 27(1), 208-217.
Klein, M. C. (2016). Hacking AngelList: Third Party Signaling in Equity Crowdfunding.
Kleinert, S., Volkmann, C., & Grünhagen, M. (2018). Third-party signals in equity crowdfunding: the role of prior financing. Small Business Economics, 1-25.
Lin, M., Lucas Jr, H. C., & Shmueli, G. (2013). Research commentary—too big to fail: large samples and the p-value problem. Information Systems Research, 24(4), 906-917.
Lin, M., Prabhala, N. R., & Viswanathan, S. (2013). Judging borrowers by the company they keep: Friendship networks and information asymmetry in online peer-to-peer lending. Management Science, 59(1), 17-35.
Loewenstein, G., Sunstein, C. R., & Golman, R. (2014). Disclosure: Psychology changes everything. Annu. Rev. Econ., 6(1), 391-419.
Mollick, E. (2014). The dynamics of crowdfunding: An exploratory study. Journal of business venturing, 29(1), 1-16.
Piva, E., & Rossi-Lamastra, C. (2018). Human capital signals and entrepreneurs’ success in equity crowdfunding. Small Business Economics, 51(3), 667-686.
Schwienbacher, A., & Larralde, B. (2010). Crowdfunding of small entrepreneurial ventures. Handbook of entrepreneurial finance, Oxford University Press, Forthcoming.
Shane, S., & Cable, D. (2002). Network ties, reputation, and the financing of new ventures. Management Science, 48(3), 364-381.
Vismara, S. (2018). Signaling to overcome inefficiencies in crowdfunding markets The economics of crowdfunding (pp. 29-56): Springer.
Xu, L. Z. (2018). Will a digital camera cure your sick puppy? Modality and category effects in donation-based crowdfunding. Telematics and Informatics, 35(7), 1914-1924.
Zhu, F., & Zhang, X. (2010). Impact of online consumer reviews on sales: The moderating role of product and consumer characteristics. Journal of marketing, 74(2), 133-148.
朱文儀, & 林亭佑. (2016). 群眾募資專案成效之影響因素-台灣 flyingV 群眾募資平台之實證研究. |
| Description: | 碩士
國立政治大學
國際經營與貿易學系
107351035 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0107351035 |
| Data Type: | thesis |
| DOI: | 10.6814/NCCU202101607 |
| Appears in Collections: | [國際經營與貿易學系 ] 學位論文
|
Files in This Item:
| File |
Description |
Size | Format | |
|---|
| 103501.pdf | | 1011Kb | Adobe PDF2 | 0 | View/Open |
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|
