创新项目大众筹资:资助人公民行为的价值

The crowdfunding of innovation projects: The value of sponsors' citizenship behaviors

互联网与民间资本的结合产生了大众筹资模式(简称众筹),资助人不仅在众筹网站为创新项目提供资金,而且主动辅助项目的执行。如何利用资助人的公民行为提高项目实施绩效是一个重要的学术问题。本文基于价值共创、价值与满意度方面理论,采用问卷调查法研究资助人公民行为对满意度的作用,以及公民行为的影响因素。主要有三点贡献:1首次从价值共创角度分析众筹项目的执行过程;2揭示了资助人公民行为、社区收益与满意度的关系;3验证了感知的项目风险、项目新颖度、社会责任感对资助人公民行为的影响。

The combination of Internet with private capital,especially the online social network,generates a new financing channel of crowdfunding,in which the sponsors not only invest in crowdfunding projects,but also voluntarily help the entrepreneurs implement the projects. Therefore,how to improve project implementation performance with the sponsor citizenship behaviors is an important academic question. Based on the value co- creation theory and the research in value and satisfaction,this paper investigated the antecedents of sponsor citizenship behaviors and their effects on his / her satisfaction. We made three theoretical contributions as follows. First,we are one of the first to analyze crowdfunding project implementation from the value co- creation perspective. Second,this paper uncovered the relationships among sponsor citizenship behaviors,community benefits and sponsor satisfaction. Finally,we identified the antecedents of sponsor citizenship behaviors as perceived project risk,project novelty,and project social responsibility.