Distance diffusion of home bias for crowdfunding campaigns between categories: Insights from data analytics

Lihuan Guo, Dongqiang Guo, Wei Wang, Hongwei Wang, Yenchun Jim Wu*

*此作品的通信作者

研究成果: 雜誌貢獻期刊論文同行評審

20 引文 斯高帕斯(Scopus)

摘要

As the information communication and investment of crowdfunding campaigns are usually accomplished online, online crowdfunding theoretically breaks the limitation of space. However, investors' behaviors still show significant home bias; furthermore, from a dynamic view, the changes in home bias during the funding duration reflect the investment preference. This paper studies the dynamics of home bias in crowdfunding investment as well as the distance diffusion of home bias in the crowdfunding market through data mining and econometric models. The distance between investors and founders gradually increases from 3605 km to 4229 km as the funding progresses, and home bias shows different diffusion patterns between categories. For most of the campaigns, the distance between backers and founders of the successful campaigns is always greater than that of the failed ones; thus, the distance diffusion impacts the pledge results. However, the study also finds that for some categories, home bias does not play a positive role in investment or that it even shows negative impacts, among which food and technology are two extreme categories. The study provides a theoretical basis from the perspective of user behavior to analyze online investment and to improve the promotion of crowdfunding campaigns.

原文英語
文章編號1251
期刊Sustainability (Switzerland)
10
發行號4
DOIs
出版狀態已發佈 - 2018 4月 19

ASJC Scopus subject areas

  • 地理、規劃與發展
  • 可再生能源、永續發展與環境
  • 環境科學(雜項)
  • 能源工程與電力技術
  • 管理、監督、政策法律

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