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Article
Publication date: 11 May 2021

Theerthaana P. and Hansa Lysander Manohar

The concept of donation crowdfunding has been drawing enormous attention as it connects donors worldwide in a shorter time at a relatively lower cost. This paper aims to integrate…

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Abstract

Purpose

The concept of donation crowdfunding has been drawing enormous attention as it connects donors worldwide in a shorter time at a relatively lower cost. This paper aims to integrate two unified theories, namely, behavioral finance and unified theory of acceptance and use of technology model, to investigate on the motivators and deterrents that influence prospective donors to adopt and use donation crowdfunding. The study also substantiates the significance of donors’ behavioral biases through the moderating effect in the crowdfunding adoption process.

Design/methodology/approach

The study used survey method for data collection and the data set was obtained from the sample of respondents belonging to India and Bangladesh. The proposed structural equation modeling is tested using SPSS 23.0 and AMOS 23.0.

Findings

The study reveals that performance expectancy, effort expectancy, facilitating conditions and trust significantly enhance the intention to adopt donation crowdfunding. Also, biases including overconfidence bias, herding bias and regret aversion bias are found to have significant moderating effects on the relationship between the behavioral intention to adopt donation crowdfunding and use behavior.

Practical implications

By investigating motivators and deterrents of the adoption of donation crowdfunding, the study renders lucrative insights for the donation crowdfunders in devising a donation fundraising campaign that motivates the prospective donors to provide financial contribution.

Originality/value

The study establishes its novelty in explaining the adoption behavior of donation crowdfunding with behavioral bias moderators as a theoretical paradigm. Furthermore, the unified theory of acceptance and use of technology model is extended by introducing, the variable “trust,” while studying the adoption behavior of donation crowdfunding.

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Article
Publication date: 16 January 2024

Jitender Kumar, Manju Rani, Garima Rani and Vinki Rani

Crowdfunding has emerged as an alternative financing tool and recently gained attention to foster entrepreneurial dynamism and innovation. The current research has identified the…

505

Abstract

Purpose

Crowdfunding has emerged as an alternative financing tool and recently gained attention to foster entrepreneurial dynamism and innovation. The current research has identified the determinants impacting the behavioral intentions of entrepreneurs to use crowdfunding for financing their small and medium-sized enterprises (SMEs).

Design/methodology/approach

The current article is based on a cross-sectional research design. This research collected the data of 422 owners and managers of SMEs through self-administered questionnaires in the Indian National Capital Region (NCR). The responses were collected from July 17 to October 27, 2022. This article used “partial least squares structural equation modeling” (PLS-SEM) for data analysis.

Findings

This article offered a robust model with a high explanatory value of 66% of behavioral intention and 62.1% variance in crowdfunding use behavior. The finding also highlighted that performance expectancy, social influence, facilitating conditions, trialability and perceived value significantly impact behavioral intention. However, effort expectancy and perceived risk insignificantly influence behavioral intention. Notably, facilitating conditions, trialability and behavioral intention positively impact use behavior.

Practical implications

The results of this study will bridge the gap in empirical research on crowdfunding adoption, shedding light on why entrepreneurs hesitate to adopt crowdfunding for financing. Moreover, these results will offer strategic insights for crowdfunding managers and policymakers, aiding them in making informed decisions.

Originality/value

To the best of the authors' knowledge, this pioneering study built the theoretical framework using three credible technology determinant models. The authors examined crowdfunding-specific contextual factors to improve understanding of the positive effect of technological orientation. This addition assists in strategically arranging entrepreneurs' fundraising conversations more efficiently.

Details

Journal of Small Business and Enterprise Development, vol. 31 no. 1
Type: Research Article
ISSN: 1462-6004

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Article
Publication date: 24 May 2022

Norbayah Mohd Suki, Norazah Mohd Suki and Muhammad Faiz Hussin Shokri

Muslims are obliged to make a contribution to the less fortunate through zakat, which is one of the means of wealth distribution. However, very few studies have investigated the…

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Abstract

Purpose

Muslims are obliged to make a contribution to the less fortunate through zakat, which is one of the means of wealth distribution. However, very few studies have investigated the behavioural intention of users toward social media networks that use creative animation for zakat online campaigns to promote zakat awareness in developing nations. The rich content of zakat in social media networks using creative animation could attract today’s youth to engage with zakat. This research aims to examine the factors that influence youths’ intention to use social media networks for understanding zakat online campaigns that use creative animation.

Design/methodology/approach

Data were analysed via Analysis of Moment Structures (AMOS) version 18 to test the covariance-based structural equation modelling technique.

Findings

The results reveal that social influence has the greatest significant impact on youths’ intention to use social media networks for understanding zakat online campaigns that use creative animation. Officers in zakat institutions are supportive of the use of zakat campaigns that use creative animation on social media networks to enhance zakat understanding of the youth. Besides, individuals who are important to them would recommend accepting zakat online campaigns that use creative animation on social media networks to enhance their zakat understanding.

Practical implications

The social media networks of the zakat institutions should be designed with more creative, interactive and animated content to improve the quality of communication about the importance and benefits of contributing zakat. The content creator should use an inspiring emotional marketing strategy in their social media postings, interactive infographics and interactive videos because informational posts and emotionally positive content travel quicker than any other sort of content on social media through social sharing.

Originality/value

This study is unique and is noticeable as very few studies have investigated youths’ behavioural intention after viewing zakat online campaigns with creative animation on social media networks in a developing nation to promote zakat awareness. This platform has great potential to increase the engagement of working youth as zakat payers.

Details

Journal of Islamic Marketing, vol. 14 no. 7
Type: Research Article
ISSN: 1759-0833

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Article
Publication date: 29 August 2022

Zecong Ma

While crowdfunding provides a novel method for entrepreneurs and startups to raise funding from consumers, a high percentage of crowdfunding projects fail to achieve their funding…

339

Abstract

Purpose

While crowdfunding provides a novel method for entrepreneurs and startups to raise funding from consumers, a high percentage of crowdfunding projects fail to achieve their funding goals. This study aims to investigate the impact of early backers on crowdfunding success (i.e. reaching funding goals) by considering their social and geographic peer influences.

Design/methodology/approach

The author constructed a social network and a geographic network of crowdfunding backers based on a data set from Kickstarter.com and used closeness centrality to quantify the network positions of early backers.

Findings

For project categories with low completion uncertainty, early backers who were socially closer to their peers led to a higher chance of success. However, such an impact declines for projects with higher uncertainty. On the other hand, for project categories with high completion uncertainty, early backers who were geographically closer to their peers led to a higher chance of success. Still, such an impact declines for projects with lower uncertainty.

Originality/value

This paper contributes to the literature by investigating the peer influence between socially and geographically related consumers on a crowdfunding platform. The findings provide managerial implications for crowdfunding project creators to target the right crowd.

Details

Journal of Research in Interactive Marketing, vol. 17 no. 4
Type: Research Article
ISSN: 2040-7122

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Article
Publication date: 9 February 2023

Alberto Lopez and Ricardo Garza

Will consumers accept artificial intelligence (AI) products that evaluate them? New consumer products offer AI evaluations. However, previous research has never investigated how…

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Abstract

Purpose

Will consumers accept artificial intelligence (AI) products that evaluate them? New consumer products offer AI evaluations. However, previous research has never investigated how consumers feel about being evaluated by AI instead of by a human. Furthermore, why do consumers experience being evaluated by an AI algorithm or by a human differently? This research aims to offer answers to these questions.

Design/methodology/approach

Three laboratory experiments were conducted. Experiments 1 and 2 test the main effect of evaluator (AI and human) and evaluations received (positive, neutral and negative) on fairness perception of the evaluation. Experiment 3 replicates previous findings and tests the mediation effect.

Findings

Building on previous research on consumer biases and lack of transparency anxiety, the authors present converging evidence that consumers who got positive evaluations reported nonsignificant difference on the level of fairness perception on the evaluation regardless of the evaluator (human or AI). Contrarily, consumers who got negative evaluations reported lower fairness perception when the evaluation was given by AI. Further moderated mediation analysis showed that consumers who get a negative evaluation by AI experience higher levels of lack of transparency anxiety, which in turn is an underlying mechanism driving this effect.

Originality/value

To the best of the authors' knowledge, no previous research has investigated how consumers feel about being evaluated by AI instead of by a human. This consumer bias against AI evaluations is a phenomenon previously overlooked in the marketing literature, with many implications for the development and adoption of new AI products, as well as theoretical contributions to the nascent literature on consumer experience and AI.

Details

Journal of Research in Interactive Marketing, vol. 17 no. 6
Type: Research Article
ISSN: 2040-7122

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Article
Publication date: 1 January 2025

Gargi Raj

This study aims to evaluate how biases among retail investors – such as mental accounting, overconfidence and herd behaviour – affect their investment choices, while also…

64

Abstract

Purpose

This study aims to evaluate how biases among retail investors – such as mental accounting, overconfidence and herd behaviour – affect their investment choices, while also examining how demographics, specifically, age, gender and income moderate these effects.

Design/methodology/approach

This paper uses quantitative method for collecting data through questionnaire from 385 Indian investors investing actively in stock market. The relationship was tested using partial least squares structural equation modelling through SmartPLS 4.0. To analyse the moderating role of demographics, multi-group analysis with percentile bootstrapping approach was performed.

Findings

The results reveal the varying effect of each bias on investment decision. The evidence proves the presence of herd behaviour, overconfidence and mental accounting while making investment decisions. Furthermore, age and gender was found to be moderating the effect of biases and investment decision of Indian investors. Also, the results imply that female investors are more prone to herd behaviour compared to their male counterparts.

Research limitations/implications

The study confirms that investors often deviate from complete rationality, with their investment decisions constrained by available resources, information and cognitive processing abilities, consistent with the theory of bounded rationality. The findings offer practical insights for financial advisors, educators, investors, government agencies and regulators to enhance investment decision-making practices.

Originality/value

This study offers new perspectives on the impact of behavioural biases on investment decisions. Particularly, the study enhances the understanding of investment patterns and contributes to the behavioural finance literature by addressing the interplay between demographics and investor behaviour in a rapidly growing economy.

Details

International Journal of Accounting & Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 30 September 2024

G.R. Swathi and V.R. Uma

This research aims to identify the factors that influence the investment intention of retail investors in Indian REITs. The study incorporates the theory of planned behavior and…

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Abstract

Purpose

This research aims to identify the factors that influence the investment intention of retail investors in Indian REITs. The study incorporates the theory of planned behavior and innovation diffusion theory as the research framework, with perceived risk and mass media influence as additional constructs.

Design/methodology/approach

Primary data were collected using self-administered questionnaires from 534 potential investors in India. The data were analyzed using partial least square structural equation modeling.

Findings

The study showed that factors such as relative advantage, compatibility, attitude, subjective norms, perceived behavioral control and mass media significantly and positively influence investment intention in Indian REITs. However, perceived risk was found to have a negative and significant influence, while complexity did not affect investment intention.

Originality/value

This is the first quantitative investigation into determining the factors influencing the investment intention of Indian retail investors on Indian REITs.

Details

Managerial Finance, vol. 51 no. 2
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 24 May 2024

Pranay Verma

This research was motivated by the recognition that the use of mobile-based agricultural extension services (AES) applications has become increasingly popular among the bottom of…

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Abstract

Purpose

This research was motivated by the recognition that the use of mobile-based agricultural extension services (AES) applications has become increasingly popular among the bottom of the pyramid segment in recent years. However, users’ adoption is determined not only by their perception of the technology but also by its perceived wealth. In other words, even though a technology may be perceived as advanced, if it does not fit users’ wealth perception benefits, they may not adopt it. Using an extended unified theory of acceptance and use of technology (UTAUT) perspective, this study aims to explore potential predictors of behavioral intention toward AES such as effort expectancy, performance expectancy, customer wealth (CW), social influence and perceived characteristics of innovation.

Design/methodology/approach

Potential causal connections between key UTAUT factors and users’ intentions to use the services are hypothesized. An integrated theoretical model was developed and tested against the empirical data collected from 336 AES users. A measurement model and structural equation model were tested using AMOS 22.0 and confirmed all 14 hypothesized relationships.

Findings

The results were consistent with the recent literature on mobile technology acceptance, confirming an unmoderated relationship between CW and the adoption of mobile-based AES. This research proposes a mobile AES user adoption model by integrating CW with the unified theory of acceptance and usage of technology (UTAUT).

Originality/value

This study establishes CW as an outcome of various relationships.

Details

Journal of Science and Technology Policy Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2053-4620

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Article
Publication date: 27 December 2021

Nianqi Deng, Xinyu Jiang and Xiaojun Fan

Limited research has explored why and how cause-related marketing on social media influences consumers' responses. Drawing upon balance theory and consistency theory, this study…

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Abstract

Purpose

Limited research has explored why and how cause-related marketing on social media influences consumers' responses. Drawing upon balance theory and consistency theory, this study aims to identify the mechanism of cause-related marketing on social media.

Design/methodology/approach

Data were collected from a sample of 360 users of cause-related marketing campaigns on social media and analyzed using structural equation modeling in Mplus 8.0.

Findings

The three types of congruence – self-image congruence, brand-image congruence and value congruence – can serve as sub-dimensions of perceived fit between a consumer, brand and cause of a cause-related marketing campaign on social media. Importantly, these perceived fit sub-dimensions positively influence community identification and, therefore, influence consumer citizenship behaviors.

Practical implications

The findings provide theoretical and practical contributions for a brand to undertake cause-related marketing on social media.

Originality/value

This study clarifies the myth of the perceived fit of cause-related marketing on social media and examines the perceived fit sub-dimensions’ mechanism of consumers' responses through community identification.

Details

Journal of Research in Interactive Marketing, vol. 17 no. 1
Type: Research Article
ISSN: 2040-7122

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Article
Publication date: 10 July 2023

Virgílio Vasconcelos Souza, Lucas Lopes Ferreira Souza, Oderlene Oliveira, Elnivan Moreira de Souza and Juliana Silva Costa

The purpose of this research is to analyze the influence of heuristics on Brazilian investors' behavior in the decision-making process.

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Abstract

Purpose

The purpose of this research is to analyze the influence of heuristics on Brazilian investors' behavior in the decision-making process.

Design/methodology/approach

The authors apply the partial least squares structural equation modeling methodology. This sample is composed of 220 investors.

Findings

The heuristics of overconfidence and anchoring positively influence investors' decision-making, while loss aversion negatively influences it. The herd effect exhibits no influence. The results also support the idea that decision-making positively influences investors' performance. Investors feel secure in their attitudes regarding financial decision-making, even if their decisions are not always rational as they are affected by biases.

Originality/value

This article explains the influence of heuristics on investors' decision-making and performance in the Brazilian context during the COVID-19 pandemic.

Details

Review of Behavioral Finance, vol. 16 no. 2
Type: Research Article
ISSN: 1940-5979

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