Journal article
Herding behavior in supplier innovation crowdfunding: Evidence from Kickstarter
International journal of production economics, v 239, p108184
01 Sep 2021
Featured in Collection : UN Sustainable Development Goals @ Drexel
Abstract
Despite a growing body of research that has investigated the impacts of social effect on the amount pledged in crowdfunding, some questions remain unclear. How does herding behavior influence the performance in supplier innovation crowdfunding, and is such behavior rational? What are the primary mechanisms of herding behavior? Based on a panel data set from Kickstarter, we find that it is rational herding rather than information cascade that has a positive effect on the performance in supplier innovation crowdfunding, that is, later backers will combine their private information about projects with others' contributions to make decisions. Prior contribution acts as the quality signal and affects the later crowdfunding performance. The empirical studies also testify that information asymmetries, word of mouth effect, network effect, and rational behavior are the primary mechanisms of herding in supplier innovation crowdfunding.
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Details
- Title
- Herding behavior in supplier innovation crowdfunding: Evidence from Kickstarter
- Creators
- Xin Tian - University of Chinese Academy of SciencesYan Song - University of Chinese Academy of SciencesChunlin Luo - Jiangxi University of Finance and EconomicsXiaoyang Zhou - Academy of Mathematics and Systems ScienceBenjamin Lev - Drexel University
- Publication Details
- International journal of production economics, v 239, p108184
- Publisher
- Elsevier
- Number of pages
- 14
- Grant note
- Fundamental Research Funds for the Central Universities, China; Fundamental Research Funds for the Central Universities 20202BABL201012 / Natural Science Foundation of Jiangxi Province 9212020 / Beijing Natural Science Foundation 71932002; 71862014; 71871175 / National Natural Science Foundation of China; National Natural Science Foundation of China (NSFC)
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Decision Sciences (and Management Information Systems)
- Web of Science ID
- WOS:000672719200004
- Scopus ID
- 2-s2.0-85107663643
- Other Identifier
- 991019168725104721
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Engineering, Industrial
- Engineering, Manufacturing
- Operations Research & Management Science