Author(s)

Chang Liu, Jinshan Liu

School of Economics, Jinan University, Guangzhou, China.

Based on the previous studies, this paper applied the theoretical elaboration likelihood model to the in-depth analysis of psychological path of the investors when they made a final investment decision after browsing and screening relative information of award-based crowdfunding projects. Then this paper studied the influence of various factors on the success rate of the crowdfunding projects. Logistics method was chosen for empirical verification based on selected detailed data on 300 Chinese items on Kickstarter platform; the results showed that the central clue: the ambiguous degree of the description, the key word of risk, the update, and the peripheral clue: initiator’s social capital, the duration of the project were positively related to the success rate of crowdfunding. It was proved that investors would make rational investment decisions when facing high uncertainty characteristics of the target projects.

Component, Award-Based Crowdfunding, Success Rate of Financing, Theoretical Elaboration, Likelihood Model

Liu, C. and Liu, J. (2016) Antecedents of Success Rate of Award-Based Crowdfunding: The Case of the “Kickstarter”. Modern Economy, 7, 250-261. doi: 10.4236/me.2016.73027.