Wer investiert warum? Eine Analyse von Investmententscheidungen bei Crowdfunding-Projekten

Translated title of the contribution: Who is investing why?: An analysis of investment decisions in crowdfunding projects

Alexander Brem, N. Wassong

Research output: Contribution to journalJournal articleResearchpeer-review

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Abstract

Crowdfunding is gaining importance as an interesting option for financing of start-ups, not only in Germany, but also in other countries. In this context, the question arises which factors determine individual crowdfunding investment decisions, which is also the research subject of this article. To answer this question, two hypothetical case examples of German start-ups were used to create a questionnaire of individual crowdfunding investment decisions. Based on the conceptual model of rational and emotional factors, the quantitative study contains 221 responses. The results show that the product plays an important role in investment decisions, especially when it comes to gender differences. Moreover, personal relationships to the start-up positively influence the investment decision. Limitations as well as implications and further research suggestions are discussed.
Original languageGerman
JournalZfKE - Zeitschrift fur KMU und Entrepreneurship
Volume62
Issue number1
Pages (from-to)31-55
ISSN1860-4633
Publication statusPublished - 2014

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Investing
Investment decision
Start-ups
Financing
Start-up
Conceptual model
Individual factors
Gender differences
Questionnaire
Emotion
Germany
Personal relationships
Factors

Cite this

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Wer investiert warum? Eine Analyse von Investmententscheidungen bei Crowdfunding-Projekten. / Brem, Alexander; Wassong, N.

In: ZfKE - Zeitschrift fur KMU und Entrepreneurship, Vol. 62, No. 1, 2014, p. 31-55.

Research output: Contribution to journalJournal articleResearchpeer-review

TY - JOUR

T1 - Wer investiert warum?

T2 - Eine Analyse von Investmententscheidungen bei Crowdfunding-Projekten

AU - Brem, Alexander

AU - Wassong, N.

PY - 2014

Y1 - 2014

N2 - Crowdfunding is gaining importance as an interesting option for financing of start-ups, not only in Germany, but also in other countries. In this context, the question arises which factors determine individual crowdfunding investment decisions, which is also the research subject of this article. To answer this question, two hypothetical case examples of German start-ups were used to create a questionnaire of individual crowdfunding investment decisions. Based on the conceptual model of rational and emotional factors, the quantitative study contains 221 responses. The results show that the product plays an important role in investment decisions, especially when it comes to gender differences. Moreover, personal relationships to the start-up positively influence the investment decision. Limitations as well as implications and further research suggestions are discussed.

AB - Crowdfunding is gaining importance as an interesting option for financing of start-ups, not only in Germany, but also in other countries. In this context, the question arises which factors determine individual crowdfunding investment decisions, which is also the research subject of this article. To answer this question, two hypothetical case examples of German start-ups were used to create a questionnaire of individual crowdfunding investment decisions. Based on the conceptual model of rational and emotional factors, the quantitative study contains 221 responses. The results show that the product plays an important role in investment decisions, especially when it comes to gender differences. Moreover, personal relationships to the start-up positively influence the investment decision. Limitations as well as implications and further research suggestions are discussed.

M3 - Tidsskriftartikel

VL - 62

SP - 31

EP - 55

JO - Z f K E - Zeitschrift fuer K M U und Entrepreneurship

JF - Z f K E - Zeitschrift fuer K M U und Entrepreneurship

SN - 1860-4633

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ER -