Effect of Product Value Cues on Crowdfunding Performance—Moderation Effect of Entrepreneur Cues
It is key for crowdfunding projects to attract consumers'investment by enhancing their perceived value.Based on the cue theory,it examined how low-range product cues,which directly affect consumers'perceived value,influence crowdfunding performance,and how the influence is moderated by high-range entrepreneur cues.The sample of 2 895 crowdfunding projects was used for the empirical analysis.The results show that product observability,scarcity,and experiential cue that elicit consumers'functional,symbolic,and experiential values inferences promote crowdfunding performance.Entrepreneurial passion strengthens the positive relationship between product observability,scarcity and crowdfunding performance.Entrepreneurial experience weakens the positive relationship between product scarcity and crowdfunding performance,and strengthens the positive relationship between product experiential cue and crowdfunding performance.In the crowdfunding context,it distinguishes between cue types and contents,reveals that the effect of product value cues on crowdfunding performance and the moderating effect of high-range cues on the effectiveness of low-range cues,and explores the optimal combination of observational indicators of crowdfunding performance.It offers practical implications for entrepreneurs to improve their crowdfunding performance.
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