连续发起人的经验对众筹成功的影响:经验相关性的调节效应分析  

Serial creator’s experience and crowdfunding success:Moderating effects of experience relevance

作　　者：王念新[1] 吕爽 周园 葛世伦[1] WANG Nianxin;LV Shuang;ZHOU Yuan;GE Shilun(School of Economics and Management,Jiangsu University of Science and Technology,Zhenjiang 212003,China;School of Management,Jiangsu University,Zhenjiang 212013,China)

机构地区：[1]江苏科技大学经济管理学院,江苏镇江212003 [2]江苏大学管理学院,江苏镇江212013

出　　处：《管理工程学报》2020年第4期89-100,共12页Journal of Industrial Engineering and Engineering Management

基　　金：国家自然科学基金资助项目(71471079、71331003);江苏高校青蓝工程资助项目;江苏省研究生科技创新计划(KYCX18_2297)。

摘　　要：发起人经验是影响众筹成功的关键因素之一,但已有研究仅关注发起人经验对众筹成功的直接影响,忽略了经验相关性在发起人经验影响众筹成功过程中的重要作用。为了明确不同经验相关性水平下发起人经验对众筹成功影响的差异,本文以连续发起人为研究对象,将经验分为直接经验和间接经验,分析了直接经验相关性(发起项目类别数、发起项目成功率、前一发起项目规模和前一发起项目成功性)和间接经验相关性(支持项目类别数、支持项目成功率、前一支持项目规模和前一支持项目成功性)对经验与众筹成功之间关系的调节效应。利用Indiegogo众筹平台3,399位连续发起人共计7,472个项目进行了实证分析。研究结果表明,发起项目成功率、前一发起项目规模和前一发起项目成功性均正向调节直接经验与众筹成功之间的关系,只有支持项目成功率正向调节间接经验与众筹成功之间的关系。As an emerging financing model,the crowdfunding market has been developing rapidly in recent years.In their exploration of the mysteries of successful crowdfunding,some scholars have analyzed determinants of crowdfunding success,and found that creator characteristics,project information,and online interactions between creators and backers may influence crowdfunding performance.However,these studies employ a static perspective,and assume that crowdfunding projects are independent of each other,even if initiated by one same creator.In fact,creators in a crowdfunding platform can accumulate the necessary knowledge,skills,and experience through launching or supporting projects.Therefore,the crowdfunding activities and success rate of experienced creators will change accordingly.It is difficult to reveal the dynamics of crowdfunding activities and their impacts on crowdfunding success from a static perspective.Currently,some scholars have begun to focus on special crowdfunding creator groups such as serial creators,and examined effects of the direct experience(number of initiated projects)and indirect experience(number of backed projects)of serial creators on crowdfunding success.Although current studies have demonstrated the importance of experiences of serial creators in crowdfunding success from a dynamic perspective,these studies focus primarily on the direct impacts of serial creator's experience on crowdfunding success,but ignore the important roles of experience relevance in crowdfunding success.In order to identify the impacts of creator's experience on crowdfunding success in the context of different experience relevance,this paper uses the 3,399 serial creators of the Indiegogo crowdfunding platform,and conducts a binary logistic regression analysis on a total of 7,472 projects.Creator experience is divided into direct and indirect experience.Direct experience relevance includes number of initiated project categories,success rate for currently initiated projects,size of previously initiated projects,and succ

关 键 词：众筹 经验 连续发起人 经验相关性 

分 类 号：C931.6[经济管理—管理学]