Internal social capital and the attraction of early contributions in crowdfunding

• Autores: Massimo G. Colombo, Chiara Franzoni, Cristina Rossi-Lamastra
• Localización: Entrepreneurship: Theory & Practice, ISSN-e 1540-6520, Vol. 39, Nº. 1, 2015, págs. 75-100
• Idioma: inglés
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• Dialnet Métricas: 11 Citas
• Resumen

  • The nascent crowdfunding literature has highlighted the existence of a self-reinforcing pattern whereby contributions received in the early days of a campaign accelerate its success. After discussing what sustains this pattern, we maintain that the internal social capital that proponents may develop inside the crowdfunding community provides crucial assistance in igniting a self-reinforcing mechanism. Results of an econometric analysis of a sample of 669 Kickstarter projects are consistent with this view. Moreover, the effect of internal social capital on the success of a campaign is fully mediated by the capital and backers collected in the campaign's early days.