There is abundant research on the factors that influence backers’ decision to support a crowdfunding project. Yet work validating existing results and offering in a single study a direct comparison of those factors among crowdfunding types is needed. We draw upon the theory of perceived values and examine empirically which perceived values influence backers’ decision across equity, lending and reward-based crowdfunding. We employ a factorial survey that testes how changing the type of crowdfunding (ceteris paribus) alters the significance of the perceived values that a project must demonstrate in order to attract funding. A total of 337 participants evaluated one of the three variations of the same crowdfunding project with a manipulation of the type of reward that was offered (shares for equity, interest rate for lending and product for reward-based). Our findings validate and extend existing results, confirming the heterogeneity in backers’ decision-to support a project.

中文翻译：

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是什么影响我们支持众筹项目？用于验证和扩展现有知识的因子调查分析

关于影响支持者决定支持众筹项目的因素，已有大量研究。然而，需要验证现有结果并在一项研究中提供对众筹类型中这些因素的直接比较。我们借鉴感知价值理论，并根据经验检验哪些感知价值会影响支持者在股权、借贷和基于奖励的众筹方面的决策。我们采用因子调查来测试如何改变众筹的类型（在其他条件不变的情况下) 改变了项目为了吸引资金而必须展示的感知价值的重要性。共有 337 名参与者通过操纵所提供的奖励类型（股权份额、贷款利率和基于奖励的产品）对同一众筹项目的三个变体之一进行了评估。我们的研究结果验证并扩展了现有结果，证实了支持者决定支持项目的异质性。