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Backers investment behavior on explicit and implicit factors in reward-based crowdfunding based on ELM theory.

ABSTRACT: The aim of this study is to identify the dynamic explicit and implicit information factors which displayed on the webpage of platforms that influence backers' investment decision-making behavior. We analyze the connections among these factors by collecting the longitudinal dataset from reward-based crowdfunding platform. Based on ELM model, we establish Fixed Estimation Panel Data Model respectively according to explicit and implicit factors and take Funding Status (crowdfunding results) as the moderating variable to observe the goal gradient effect. Results indicate that most variables in the central route affect backers' investment behavior positively, while most variables in the periphery route have a negative impact on backers' investment behavior. The Funding Status has a significant negative moderating effect on the explicit variables, and has no significant moderating effect on the implicit information variables of the project. In addition, we upgrade the econometric method used by previous scholars, which could improve the accuracy of the FE model. Furthermore, we find strong support for the herding effect in reward-based crowdfunding and the intensity tends to decrease before the funding goal draws near.

SUBMITTER: Hou R

PROVIDER: S-EPMC7410212 | biostudies-literature | 2020

REPOSITORIES: biostudies-literature

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Backers investment behavior on explicit and implicit factors in reward-based crowdfunding based on ELM theory.

Hou Rui R Li Leiming L Liu Bingquan B

PloS one 20200806 8

The aim of this study is to identify the dynamic explicit and implicit information factors which displayed on the webpage of platforms that influence backers' investment decision-making behavior. We analyze the connections among these factors by collecting the longitudinal dataset from reward-based crowdfunding platform. Based on ELM model, we establish Fixed Estimation Panel Data Model respectively according to explicit and implicit factors and take Funding Status (crowdfunding results) as the ...[more]

PMID: 32760110

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Project description:BackgroundStrategies to promote physical activity (PA) focus mainly on changing or fostering explicit cognitions and are only modestly effective. Contemporary studies suggest that, as well as explicit cognitions, implicit cognitions influence health behavior, such as PA, and that implicit processes interact with the intention to be active. Relatively little is known about whether implicit processes interact with other explicit cognitions which determine PA intention and behavior, i.e. self-efficacy. The aim of the current study was to investigate the direct effects of explicit cognitions and implicit attitudes on PA behavior as well as interactions between them regarding intention and behavior prediction.MethodsIn a longitudinal study, participants (N = 340) completed self-report measures of explicit cognitions (perceived pros, perceived cons, social norms, social modeling, self-efficacy, intention) and activity levels, as well as a Single-Category Implicit Association Task to measure implicit attitudes towards PA at baseline (T0), and at one (T1) and 3 months thereafter (T2).ResultsHierarchical multiple regressions revealed that T0-positive implicit attitudes moderated the relationship between T0 self-efficacy and T1 PA. Similarly, T0-neutral implicit attitudes were associated with the relationship between T0 intention and T1 PA. Negative implicit attitudes strengthened the negative relationship between perceived cons and intention at baseline; neutral or positive implicit attitudes strengthened the positive relationship between self-efficacy and intention. At the follow-ups, the relationship between social modeling and intention was strengthened by negative implicit attitudes.ConclusionThis study revealed important insights into how implicit attitudes and explicit cognitions synergistically predict PA intention and behavior. As well as targeting explicit cognitions, steering a person's implicit attitude towards a more positive one, i.e. by implicit cognitive trainings, could help to increase both PA intention and behavior.

Dataset Information

Backers investment behavior on explicit and implicit factors in reward-based crowdfunding based on ELM theory.

Publications

Backers investment behavior on explicit and implicit factors in reward-based crowdfunding based on ELM theory.

Similar Datasets

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