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Serial crowdfunding, social capital, and project success

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Title: Serial crowdfunding, social capital, and project success
Authors: Buttice, V
Colombo, MG
Wright, M
Item Type: Journal Article
Abstract: In this paper, we focus attention on serial crowdfunders, that is, entrepreneurs who repeatedly turn to crowdfunding to finance their projects. We argue that serial crowdfunders take advantage of the social contacts with those that backed their previous campaigns. This internal social capital developed within the platform, which is not available to “normal” serial entrepreneurs, makes serial crowdfunders' campaigns more successful than those launched by novice crowdfunders. However, this type of social capital is a substitute for the internal social capital built by backing other campaigns, and has a limited lifespan. Econometric results on a sample of 31,389 Kickstarter campaigns confirm our contentions. Implications for research, practice, and policy are discussed.
Issue Date: 1-Mar-2017
Date of Acceptance: 1-Mar-2017
URI: http://hdl.handle.net/10044/1/50875
DOI: https://dx.doi.org/10.1111/etap.12271
ISSN: 1042-2587
Publisher: Wiley
Start Page: 183
End Page: 207
Journal / Book Title: Entrepreneurship Theory and Practice
Volume: 41
Issue: 2
Copyright Statement: © 2017 SAGE Publications Inc.
Keywords: Social Sciences
Business
Business & Economics
PORTFOLIO ENTREPRENEURS
STRATEGIC PERSISTENCE
PERFORMANCE
NETWORKS
TIES
DISSOLUTION
FOUNDERS
DYNAMICS
NOVICE
EMBEDDEDNESS
1503 Business And Management
1505 Marketing
Business & Management
Publication Status: Published
Appears in Collections:Imperial College Business School



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