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Article: Click to Success? The Temporal Effects of Facebook Likes on Crowdfunding

TitleClick to Success? The Temporal Effects of Facebook Likes on Crowdfunding
Authors
KeywordsHerding Effect
Quality-Signaling Effect
Social Media Activities
Temporal Effects
Crowdfunding
Facebook Like
Issue Date2020
PublisherAssociation for Information Systems. The Journal's web site is located at http://aisel.aisnet.org/jais/
Citation
Journal of the Association for Information Systems, 2020, v. 21 n. 5, p. 1191-1213 How to Cite?
AbstractSmall and medium-sized businesses as well as individuals are increasingly using online crowdfunding platforms to raise funds in the fintech world. Creators of crowdfunding projects depend heavily on social networks like Facebook to publicize their projects. Social media activities such as “liking” on Facebook bring massive traffic to crowdfunding projects and attract contributions. Using data collected from Facebook and Kickstarter, our empirical tests demonstrate that social media activities significantly and positively impact the likely success of crowdfunding. Our duration model analysis reveals that the impact of social media activities on crowdfunding outcomes follows a J-curve in the temporal space. We explain the J-curve by identifying two important effects of social media activities throughout the crowdfunding process: a quality-signaling effect in the opening period and a herding effect in the closing period. Especially in the “last mile,” there is a strong herding effect that helps crowdfunding projects reach their respective fundraising goals. Our results offer useful contributions to the literature and suggestions for practitioners.
Persistent Identifierhttp://hdl.handle.net/10722/286058
ISSN
2020 Impact Factor: 5.149
2020 SCImago Journal Rankings: 1.877
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorJin, Y-
dc.contributor.authorDing, C-
dc.contributor.authorDuan, Y-
dc.contributor.authorCheng, HK-
dc.date.accessioned2020-08-31T06:58:30Z-
dc.date.available2020-08-31T06:58:30Z-
dc.date.issued2020-
dc.identifier.citationJournal of the Association for Information Systems, 2020, v. 21 n. 5, p. 1191-1213-
dc.identifier.issn1536-9323-
dc.identifier.urihttp://hdl.handle.net/10722/286058-
dc.description.abstractSmall and medium-sized businesses as well as individuals are increasingly using online crowdfunding platforms to raise funds in the fintech world. Creators of crowdfunding projects depend heavily on social networks like Facebook to publicize their projects. Social media activities such as “liking” on Facebook bring massive traffic to crowdfunding projects and attract contributions. Using data collected from Facebook and Kickstarter, our empirical tests demonstrate that social media activities significantly and positively impact the likely success of crowdfunding. Our duration model analysis reveals that the impact of social media activities on crowdfunding outcomes follows a J-curve in the temporal space. We explain the J-curve by identifying two important effects of social media activities throughout the crowdfunding process: a quality-signaling effect in the opening period and a herding effect in the closing period. Especially in the “last mile,” there is a strong herding effect that helps crowdfunding projects reach their respective fundraising goals. Our results offer useful contributions to the literature and suggestions for practitioners.-
dc.languageeng-
dc.publisherAssociation for Information Systems. The Journal's web site is located at http://aisel.aisnet.org/jais/-
dc.relation.ispartofJournal of the Association for Information Systems-
dc.rightsCopyright © 2020 by the Association for Information Systems. Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and full citation on the first page. Copyright for components of this work owned by others than the Association for Information Systems must be honored. Abstracting with credit is permitted. To copy otherwise, to republish, to post on servers, or to redistribute to lists requires prior specific permission and/or fee. Request permission to publish from: AIS Administrative Office, P.O. Box 2712 Atlanta, GA, 30301-2712 Attn: Reprints, or via email from publications@aisnet.org.-
dc.subjectHerding Effect-
dc.subjectQuality-Signaling Effect-
dc.subjectSocial Media Activities-
dc.subjectTemporal Effects-
dc.subjectCrowdfunding-
dc.subjectFacebook Like-
dc.titleClick to Success? The Temporal Effects of Facebook Likes on Crowdfunding-
dc.typeArticle-
dc.identifier.emailDing, C: chaoding@hku.hk-
dc.identifier.authorityDing, C=rp01952-
dc.description.naturepublished_or_final_version-
dc.identifier.doi10.17705/1jais.00634-
dc.identifier.scopuseid_2-s2.0-85090509817-
dc.identifier.hkuros313395-
dc.identifier.volume21-
dc.identifier.issue5-
dc.identifier.spage1191-
dc.identifier.epage1213-
dc.identifier.isiWOS:000588316700005-
dc.publisher.placeUnited States-
dc.identifier.issnl1536-9323-

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