Crowdfunding performance, market performance, and the moderating roles of product innovativeness and experts' judgment: Evidence from the movie industry.
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| Title: | Crowdfunding performance, market performance, and the moderating roles of product innovativeness and experts' judgment: Evidence from the movie industry. |
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| Authors: | Roma, Paolo1 (AUTHOR), Natalicchio, Angelo2 (AUTHOR), Panniello, Umberto2 (AUTHOR), Vasi, Maria1 (AUTHOR), Messeni Petruzzelli, Antonio2 (AUTHOR) antonio.messenipetruzzelli@poliba.it |
| Source: | Journal of Product Innovation Management. May2023, Vol. 40 Issue 3, p297-339. 43p. 15 Charts, 2 Graphs. |
| Subjects: | Judgment (Psychology), Crowd funding, Campaign funds, Consumers, Motion picture theaters |
| Abstract: | Reward‐based crowdfunding (CF) has emerged as a method to solicit funds for innovative projects. Yet, little is still known about the ability of reward‐based CF to act as a signal in the eyes of future consumers, and thus boost the future market performance of new products that innovators intend to commercialize using the campaign funds. In addition, scant research has clarified the boundary conditions that can magnify or weaken the efficacy of this CF signal. Given the relevance of reward‐based CF for supporting innovation, understanding when the CF campaign performance works as an effective signal is of great interest, especially in business settings characterized by high product quality uncertainty. By using the movie industry as a setting, we contribute to fill this gap. Specifically, we argue that the positive effect of the reward‐based CF performance is moderated by two important factors influencing consumers' purchase decisions: the degree of product innovativeness and the expert judgment about the product. Elaborating on the effects of product innovativeness, we posit that this product feature should moderate the positive relationship between CF and subsequent market performances in an inverted U‐shaped fashion. Favorable expert recommendations, on the other hand, should weaken the efficacy of the CF performance as a signal. Results from a sample of 1059 new movies (of which 152 released in theaters) confirm these predictions and offer several remarkable implications for innovators. [ABSTRACT FROM AUTHOR] |
| Copyright of Journal of Product Innovation Management is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Engineering Source |
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| Header | DbId: egs DbLabel: Engineering Source An: 163097527 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Crowdfunding performance, market performance, and the moderating roles of product innovativeness and experts' judgment: Evidence from the movie industry. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Roma%2C+Paolo%22">Roma, Paolo</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Natalicchio%2C+Angelo%22">Natalicchio, Angelo</searchLink><relatesTo>2</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Panniello%2C+Umberto%22">Panniello, Umberto</searchLink><relatesTo>2</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Vasi%2C+Maria%22">Vasi, Maria</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Messeni+Petruzzelli%2C+Antonio%22">Messeni Petruzzelli, Antonio</searchLink><relatesTo>2</relatesTo> (AUTHOR)<i> antonio.messenipetruzzelli@poliba.it</i> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Journal+of+Product+Innovation+Management%22">Journal of Product Innovation Management</searchLink>. May2023, Vol. 40 Issue 3, p297-339. 43p. 15 Charts, 2 Graphs. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Judgment+%28Psychology%29%22">Judgment (Psychology)</searchLink><br /><searchLink fieldCode="DE" term="%22Crowd+funding%22">Crowd funding</searchLink><br /><searchLink fieldCode="DE" term="%22Campaign+funds%22">Campaign funds</searchLink><br /><searchLink fieldCode="DE" term="%22Consumers%22">Consumers</searchLink><br /><searchLink fieldCode="DE" term="%22Motion+picture+theaters%22">Motion picture theaters</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Reward‐based crowdfunding (CF) has emerged as a method to solicit funds for innovative projects. Yet, little is still known about the ability of reward‐based CF to act as a signal in the eyes of future consumers, and thus boost the future market performance of new products that innovators intend to commercialize using the campaign funds. In addition, scant research has clarified the boundary conditions that can magnify or weaken the efficacy of this CF signal. Given the relevance of reward‐based CF for supporting innovation, understanding when the CF campaign performance works as an effective signal is of great interest, especially in business settings characterized by high product quality uncertainty. By using the movie industry as a setting, we contribute to fill this gap. Specifically, we argue that the positive effect of the reward‐based CF performance is moderated by two important factors influencing consumers' purchase decisions: the degree of product innovativeness and the expert judgment about the product. Elaborating on the effects of product innovativeness, we posit that this product feature should moderate the positive relationship between CF and subsequent market performances in an inverted U‐shaped fashion. Favorable expert recommendations, on the other hand, should weaken the efficacy of the CF performance as a signal. Results from a sample of 1059 new movies (of which 152 released in theaters) confirm these predictions and offer several remarkable implications for innovators. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Journal of Product Innovation Management is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1111/jpim.12660 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 43 StartPage: 297 Subjects: – SubjectFull: Judgment (Psychology) Type: general – SubjectFull: Crowd funding Type: general – SubjectFull: Campaign funds Type: general – SubjectFull: Consumers Type: general – SubjectFull: Motion picture theaters Type: general Titles: – TitleFull: Crowdfunding performance, market performance, and the moderating roles of product innovativeness and experts' judgment: Evidence from the movie industry. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Roma, Paolo – PersonEntity: Name: NameFull: Natalicchio, Angelo – PersonEntity: Name: NameFull: Panniello, Umberto – PersonEntity: Name: NameFull: Vasi, Maria – PersonEntity: Name: NameFull: Messeni Petruzzelli, Antonio IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 05 Text: May2023 Type: published Y: 2023 Identifiers: – Type: issn-print Value: 07376782 Numbering: – Type: volume Value: 40 – Type: issue Value: 3 Titles: – TitleFull: Journal of Product Innovation Management Type: main |
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