Jianwei Hu , Xiuping Hua , Haolin Li , Agyenim Boateng
{"title":"Home region orientation, international intensity, and funding performance of international crowdfunding projects","authors":"Jianwei Hu , Xiuping Hua , Haolin Li , Agyenim Boateng","doi":"10.1016/j.technovation.2024.103164","DOIUrl":null,"url":null,"abstract":"<div><div>This paper investigates whether international reward crowdfunding campaigns effectively attract global backers by testing the global market penetration level and explores the impact of home region orientation and international intensity on crowdfunding performance. Utilising 24,100 Kickstarter reward crowdfunding campaigns in the technology sector across the triad from 2009 to 2019, we find that home-region-specific advantages are important determinants of fundraising success. Our evidence also indicates that home region orientation positively moderates the multi-nationality-crowdfunding performance relationship. Lastly, cross-sectional tests reveal heterogeneous impacts of home-region advantages across backers’ home-country levels of financial inclusion and investor protection.</div></div>","PeriodicalId":49444,"journal":{"name":"Technovation","volume":"140 ","pages":"Article 103164"},"PeriodicalIF":10.9000,"publicationDate":"2025-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Technovation","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0166497224002141","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"2024/12/30 0:00:00","PubModel":"Epub","JCR":"Q1","JCRName":"ENGINEERING, INDUSTRIAL","Score":null,"Total":0}
引用次数: 0
Abstract
This paper investigates whether international reward crowdfunding campaigns effectively attract global backers by testing the global market penetration level and explores the impact of home region orientation and international intensity on crowdfunding performance. Utilising 24,100 Kickstarter reward crowdfunding campaigns in the technology sector across the triad from 2009 to 2019, we find that home-region-specific advantages are important determinants of fundraising success. Our evidence also indicates that home region orientation positively moderates the multi-nationality-crowdfunding performance relationship. Lastly, cross-sectional tests reveal heterogeneous impacts of home-region advantages across backers’ home-country levels of financial inclusion and investor protection.
期刊介绍：
The interdisciplinary journal Technovation covers various aspects of technological innovation, exploring processes, products, and social impacts. It examines innovation in both process and product realms, including social innovations like regulatory frameworks and non-economic benefits. Topics range from emerging trends and capital for development to managing technology-intensive ventures and innovation in organizations of different sizes. It also discusses organizational structures, investment strategies for science and technology enterprises, and the roles of technological innovators. Additionally, it addresses technology transfer between developing countries and innovation across enterprise, political, and economic systems.
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