Huo, H. and Wang, C. and Han, Chunjia and Yang, Mu and Shang, W.-l. (2024) Risk disclosure and entrepreneurial resource acquisition in crowdfunding digital platforms: evidence from digital technology ventures. Information Processing & Management 61 (3), p. 103655. ISSN 0306-4573. (In Press)
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Abstract
The widespread development of digital technology facilitates the emergence of new entrepreneurial modes, of which crowdfunding digital platforms are one. In the digital environment of crowdfunding platforms, digital entrepreneurs can acquire the key resources they need to develop their startups in a fast and cost-effective way. However, the information asymmetry derived from the digital nature of crowdfunding platforms leads to a lower chance of success for entrepreneurial ventures in this market, especially those in digital technology, limiting the important role that crowdfunding platforms can play in digital entrepreneurship. To this end, we focus on the risk disclosure section introduced by crowdfunding platforms to alleviate information asymmetry and explore the influence mechanism of the content of risk disclosure on entrepreneurial resource acquisition in crowdfunding digital platforms. By employing a novel text mining technique, structural topic modelling, we analyse the risk disclosure texts of 4,284 digital technology crowdfunding projects and successfully identify a range of factors that constrain the development of digital technology ventures in crowdfunding platforms. Furthermore, we find that the risk topics disclosed by digital entrepreneurs negatively affect entrepreneurial resource acquisition, but that this relationship is moderated by the reward structure setting in the context of reward-based crowdfunding. The findings of this study not only enrich the literature on crowdfunding and digital entrepreneurship, but also provide valuable practical implications on how crowdfunding digital platforms can be used to promote the development of digital entrepreneurship.
Metadata
| Item Type: | Article |
|---|---|
| Keyword(s) / Subject(s): | Crowdfunding, Digital entrepreneurship, Risk disclosure, Text mining, Digital technology ventures |
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Depositing User: | Chunjia Han |
| Date Deposited: | 05 Dec 2024 11:32 |
| Last Modified: | 05 Dec 2024 13:40 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/54646 |
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