Do project quality and founder information signals always matter? Evidence from equity and reward crowdfunding

Xiaohong Huang*, Rezaul Kabir, Ngoc Thuy Nguyen

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

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Abstract

This study provides a comparative analysis of the success factors of equity and reward-based crowdfunding. We find that information signals related to venture/project quality are important determinants of both equity-based and reward-based crowdfunding success. However, signals on founder information matter only for equity-based but not for reward-based crowdfunding. Our study exemplifies the varying role of success factors that depend on the type of crowdfunding projects and provides a basis for further research to compare different forms of crowdfunding.
Original languageEnglish
Pages (from-to)1-17
Number of pages17
JournalInternational Journal of Finance and Economics
Early online date22 May 2023
DOIs
Publication statusE-pub ahead of print/First online - 22 May 2023

Keywords

  • Crowdfunding
  • Success factors
  • Project quality
  • Founder information
  • Vietnam
  • UT-Hybrid-D

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