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Unpeel the layers of trust! A comparative analysis of crowdfunding platforms and what they do to generate trust

  • Identification data

    Identifier: imarina:9242225
    Authors:
    Ferreira VPapaoikonomou ETerceño A
    Abstract:
    Crowdfunding can prove to be a crucial alternative financing method, especially for microentrepreneurs, new ventures, and nonprofit associations. But trust needs to be built before prospective users decide to use crowdfunding, and we still lack an in-depth understanding of how crowdfunding platforms make users trust them. We analyzed 50 crowdfunding platforms of different types, from investment and lending platforms to reward and donation platforms. Within the sample, we included successful and consolidated platforms, such as Kickstarter, Crowdcube, and Indiegogo, as well as lesser-known and less active platforms, such as Crowdence, Zank, and Fundeen. A comparative analysis of these platforms reveals a diversity of organizational practices that aim to generate trust on four levels: trust toward the platform, toward the project, toward the users, and toward the notion of crowdfunding overall. We suggest guidelines for best practices for crowdfunding platforms and a checklist of points for prospective users searching for the right crowdfunding platform. © 2021 Kelley School of Business, Indiana University
  • Others:

    Author, as appears in the article.: Ferreira V; Papaoikonomou E; Terceño A
    Department: Gestió d'Empreses
    URV's Author/s: Ferreira Gregorio, Valeria Soledad / Papaoikonomou, Eleni / Terceño Gómez, Antonio
    Keywords: User trust Reputation management Reputation Entrepreneurship Cybersecurity Crowdfunding user trust reputation management model entrepreneurship cybersecurity
    Abstract: Crowdfunding can prove to be a crucial alternative financing method, especially for microentrepreneurs, new ventures, and nonprofit associations. But trust needs to be built before prospective users decide to use crowdfunding, and we still lack an in-depth understanding of how crowdfunding platforms make users trust them. We analyzed 50 crowdfunding platforms of different types, from investment and lending platforms to reward and donation platforms. Within the sample, we included successful and consolidated platforms, such as Kickstarter, Crowdcube, and Indiegogo, as well as lesser-known and less active platforms, such as Crowdence, Zank, and Fundeen. A comparative analysis of these platforms reveals a diversity of organizational practices that aim to generate trust on four levels: trust toward the platform, toward the project, toward the users, and toward the notion of crowdfunding overall. We suggest guidelines for best practices for crowdfunding platforms and a checklist of points for prospective users searching for the right crowdfunding platform. © 2021 Kelley School of Business, Indiana University
    Thematic Areas: Marketing Economia Ciencias sociales Business and international management Business Administração pública e de empresas, ciências contábeis e turismo
    licence for use: https://creativecommons.org/licenses/by/3.0/es/
    Author's mail: valeria.ferreira@urv.cat valeria.ferreira@urv.cat eleni.papaoikonomou@urv.cat antonio.terceno@urv.cat antonio.terceno@urv.cat
    Author identifier: 0000-0003-1050-1979 0000-0003-1050-1979 0000-0003-0198-2926 0000-0001-5348-8837 0000-0001-5348-8837
    Record's date: 2024-09-07
    Papper version: info:eu-repo/semantics/publishedVersion
    Licence document URL: https://repositori.urv.cat/ca/proteccio-de-dades/
    Papper original source: Business Horizons. 65 (1): 7-19
    APA: Ferreira V; Papaoikonomou E; Terceño A (2022). Unpeel the layers of trust! A comparative analysis of crowdfunding platforms and what they do to generate trust. Business Horizons, 65(1), 7-19. DOI: 10.1016/j.bushor.2021.08.004
    Entity: Universitat Rovira i Virgili
    Journal publication year: 2022
    Publication Type: Journal Publications
  • Keywords:

    Business,Business and International Management,Marketing
    User trust
    Reputation management
    Reputation
    Entrepreneurship
    Cybersecurity
    Crowdfunding
    user trust
    reputation management
    model
    entrepreneurship
    cybersecurity
    Marketing
    Economia
    Ciencias sociales
    Business and international management
    Business
    Administração pública e de empresas, ciências contábeis e turismo
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