Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0

Wei Wang; Haiwang Liu; Yenchun Jim Wu

doi:10.1007/978-3-031-44721-1_45

Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0

Wei Wang, Haiwang Liu, Yenchun Jim Wu^*

^*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

In Industry 5.0, public personalization needs and personalized satisfaction are emphasized. The reward-based crowdfunding model satisfies the public’s need for large-scale personalized customization, and the satisfaction of personalized needs is prerequisite for successful project financing. Based on expectation theory, this study uses 218,822 crowdfunding projects from Kickstarter and 1,276,786 reward options as the corpus to analyze the impact of reward personalization on investors’ willingness to participate. Text mining techniques are used to measure reward personalization from two perspectives: quantitative and qualitative. The empirical results show that, in valence, reward personalization has an inverted U-shaped effect on investors’ willingness to participate. This study shows the personalized preferences of investors, which provides a theoretical basis and practical reference for realizing Innovation 5.0 to promote sustainable crowdfunding.

Original language	English
Title of host publication	Research and Innovation Forum 2023 - Navigating Shocks and Crises in Uncertain Times—Technology, Business, Society
Editors	Anna Visvizi, Anna Visvizi, Orlando Troisi, Vincenzo Corvello
Publisher	Springer Science and Business Media B.V.
Pages	607-616
Number of pages	10
ISBN (Print)	9783031447204
DOIs	https://doi.org/10.1007/978-3-031-44721-1_45
Publication status	Published - 2024
Event	International Research and Innovation Forum, RIIFORUM 2023 - Krakowa, Poland Duration: 2023 Apr 12 → 2023 Apr 14

Publication series

Name	Springer Proceedings in Complexity
ISSN (Print)	2213-8684
ISSN (Electronic)	2213-8692

Conference

Conference	International Research and Innovation Forum, RIIFORUM 2023
Country/Territory	Poland
City	Krakowa
Period	2023/04/12 → 2023/04/14

Keywords

Crowdfunding projects
Industry 5.0
Innovation 5.0
Reward personalization
Text mining

ASJC Scopus subject areas

Applied Mathematics
Modelling and Simulation
Computer Science Applications

Access to Document

10.1007/978-3-031-44721-1_45

Cite this

Wang, W., Liu, H., & Wu, Y. J. (2024). Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0. In A. Visvizi, A. Visvizi, O. Troisi, & V. Corvello (Eds.), Research and Innovation Forum 2023 - Navigating Shocks and Crises in Uncertain Times—Technology, Business, Society (pp. 607-616). (Springer Proceedings in Complexity). Springer Science and Business Media B.V.. https://doi.org/10.1007/978-3-031-44721-1_45

Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0. / Wang, Wei; Liu, Haiwang; Wu, Yenchun Jim.
Research and Innovation Forum 2023 - Navigating Shocks and Crises in Uncertain Times—Technology, Business, Society. ed. / Anna Visvizi; Anna Visvizi; Orlando Troisi; Vincenzo Corvello. Springer Science and Business Media B.V., 2024. p. 607-616 (Springer Proceedings in Complexity).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Wang, W, Liu, H & Wu, YJ 2024, Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0. in A Visvizi, A Visvizi, O Troisi & V Corvello (eds), Research and Innovation Forum 2023 - Navigating Shocks and Crises in Uncertain Times—Technology, Business, Society. Springer Proceedings in Complexity, Springer Science and Business Media B.V., pp. 607-616, International Research and Innovation Forum, RIIFORUM 2023, Krakowa, Poland, 2023/04/12. https://doi.org/10.1007/978-3-031-44721-1_45

Wang W, Liu H, Wu YJ. Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0. In Visvizi A, Visvizi A, Troisi O, Corvello V, editors, Research and Innovation Forum 2023 - Navigating Shocks and Crises in Uncertain Times—Technology, Business, Society. Springer Science and Business Media B.V. 2024. p. 607-616. (Springer Proceedings in Complexity). doi: 10.1007/978-3-031-44721-1_45

Wang, Wei ; Liu, Haiwang ; Wu, Yenchun Jim. / Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0. Research and Innovation Forum 2023 - Navigating Shocks and Crises in Uncertain Times—Technology, Business, Society. editor / Anna Visvizi ; Anna Visvizi ; Orlando Troisi ; Vincenzo Corvello. Springer Science and Business Media B.V., 2024. pp. 607-616 (Springer Proceedings in Complexity).

@inproceedings{ddb78501bd624f8193e06b5443293ac0,

title = "Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0",

abstract = "In Industry 5.0, public personalization needs and personalized satisfaction are emphasized. The reward-based crowdfunding model satisfies the public{\textquoteright}s need for large-scale personalized customization, and the satisfaction of personalized needs is prerequisite for successful project financing. Based on expectation theory, this study uses 218,822 crowdfunding projects from Kickstarter and 1,276,786 reward options as the corpus to analyze the impact of reward personalization on investors{\textquoteright} willingness to participate. Text mining techniques are used to measure reward personalization from two perspectives: quantitative and qualitative. The empirical results show that, in valence, reward personalization has an inverted U-shaped effect on investors{\textquoteright} willingness to participate. This study shows the personalized preferences of investors, which provides a theoretical basis and practical reference for realizing Innovation 5.0 to promote sustainable crowdfunding.",

keywords = "Crowdfunding projects, Industry 5.0, Innovation 5.0, Reward personalization, Text mining",

author = "Wei Wang and Haiwang Liu and Wu, {Yenchun Jim}",

note = "Publisher Copyright: {\textcopyright} The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.; International Research and Innovation Forum, RIIFORUM 2023 ; Conference date: 12-04-2023 Through 14-04-2023",

year = "2024",

doi = "10.1007/978-3-031-44721-1_45",

language = "English",

isbn = "9783031447204",

series = "Springer Proceedings in Complexity",

publisher = "Springer Science and Business Media B.V.",

pages = "607--616",

editor = "Anna Visvizi and Anna Visvizi and Orlando Troisi and Vincenzo Corvello",

booktitle = "Research and Innovation Forum 2023 - Navigating Shocks and Crises in Uncertain Times—Technology, Business, Society",

}

TY - GEN

T1 - Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0

AU - Wang, Wei

AU - Liu, Haiwang

AU - Wu, Yenchun Jim

N1 - Publisher Copyright: © The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.

PY - 2024

Y1 - 2024

N2 - In Industry 5.0, public personalization needs and personalized satisfaction are emphasized. The reward-based crowdfunding model satisfies the public’s need for large-scale personalized customization, and the satisfaction of personalized needs is prerequisite for successful project financing. Based on expectation theory, this study uses 218,822 crowdfunding projects from Kickstarter and 1,276,786 reward options as the corpus to analyze the impact of reward personalization on investors’ willingness to participate. Text mining techniques are used to measure reward personalization from two perspectives: quantitative and qualitative. The empirical results show that, in valence, reward personalization has an inverted U-shaped effect on investors’ willingness to participate. This study shows the personalized preferences of investors, which provides a theoretical basis and practical reference for realizing Innovation 5.0 to promote sustainable crowdfunding.

AB - In Industry 5.0, public personalization needs and personalized satisfaction are emphasized. The reward-based crowdfunding model satisfies the public’s need for large-scale personalized customization, and the satisfaction of personalized needs is prerequisite for successful project financing. Based on expectation theory, this study uses 218,822 crowdfunding projects from Kickstarter and 1,276,786 reward options as the corpus to analyze the impact of reward personalization on investors’ willingness to participate. Text mining techniques are used to measure reward personalization from two perspectives: quantitative and qualitative. The empirical results show that, in valence, reward personalization has an inverted U-shaped effect on investors’ willingness to participate. This study shows the personalized preferences of investors, which provides a theoretical basis and practical reference for realizing Innovation 5.0 to promote sustainable crowdfunding.

KW - Crowdfunding projects

KW - Industry 5.0

KW - Innovation 5.0

KW - Reward personalization

KW - Text mining

UR - http://www.scopus.com/inward/record.url?scp=85182004486&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=85182004486&partnerID=8YFLogxK

U2 - 10.1007/978-3-031-44721-1_45

DO - 10.1007/978-3-031-44721-1_45

M3 - Conference contribution

AN - SCOPUS:85182004486

SN - 9783031447204

T3 - Springer Proceedings in Complexity

SP - 607

EP - 616

BT - Research and Innovation Forum 2023 - Navigating Shocks and Crises in Uncertain Times—Technology, Business, Society

A2 - Visvizi, Anna

A2 - Troisi, Orlando

A2 - Corvello, Vincenzo

PB - Springer Science and Business Media B.V.

T2 - International Research and Innovation Forum, RIIFORUM 2023

Y2 - 12 April 2023 through 14 April 2023

ER -

Impact of Personalized Reward Options on Crowdfunding Financing Performance in Industry 5.0

Abstract

Publication series

Conference

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this