160
Views
1
CrossRef citations to date
0
Altmetric
Research Articles

When personality pays: observer rating of personality and financial success of equity crowdfunded startups

, &
Pages 131-161 | Received 30 Nov 2023, Accepted 02 Jan 2024, Published online: 15 Jan 2024

References

  • Agrawal, Ajay, Christian Catalini, and Avi Goldfarb. 2014. “Some Simple Economics of Crowdfunding.” Innovation Policy and the Economy 14:63–97. https://doi.org/10.1086/674021.
  • Ahlers, Gerrit K., Douglas Cumming, Christina Günther, and Denis Schweizer. 2015. “Signaling in Equity Crowdfunding.” Entrepreneurship Theory and Practice 39 (4): 955–980. https://doi.org/10.1111/etap.12157.
  • Ahrens, Jan-Philipp, Andrew Isaak, Baris Istipliler, and Dennis M. Steininger. 2019. “The Star Citizen Phenomenon & the “Ultimate Dream Management” Technique in Crowdfunding.” In Proceedings of the International Conference on Information Systems - ICIS 2019, Munich, Germany, December 15-18, 2019. Atlanta, GA: AISeL.
  • Akerlof, George A. 1970. “The Market for “Lemons”: Quality Uncertainty and the Market Mechanism.” The Quarterly Journal of Economics 84 (3): 488. https://doi.org/10.2307/1879431.
  • Alkire, Linda, Christine Mooney, Furkan A. Gur, Sertan Kabadayi, Maija Renko, and Josina Vink. 2020. “Transformative Service Research, Service Design, and Social Entrepreneurship.” Journal of Service Management 31 (1): 24–50. https://doi.org/10.1108/JOSM-05-2019-0139.
  • Allison, Thomas H., Blakley C. Davis, Jeremy C. Short, and Justin W. Webb. 2015. “Crowdfunding in a Prosocial Microlending Environment: Examining the Role of Intrinsic versus Extrinsic Cues.” Entrepreneurship Theory and Practice 39 (1): 53–73. https://doi.org/10.1111/etap.12108.
  • Allison, Thomas H., Blakley C. Davis, Justin W. Webb, and Jeremy C. Short. 2017. “Persuasion in Crowdfunding: An Elaboration Likelihood Model of Crowdfunding Performance.” Journal of Business Venturing 32 (6): 707–725. https://doi.org/10.1016/j.jbusvent.2017.09.002.
  • Almlund, Mathilde, Angela L. Duckworth, James Heckman, and Tim Kautz. 2011. “Personality Psychology and Economics.” In Vol. 4 Handbook of the Economics of Education, edited by Eric A. Ha­nu­s­hek, Ste­phen Ma­chin, and Lud­ger Woess­mann, 1–181. Amsterdam: Elsevier. https://doi.org/10.1016/B978-0-444-53444-6.00001-8.
  • Anglin, Aaron H., Jeremy C. Short, Will Drover, Regan M. Stevenson, Aaron F. McKenny, and Thomas H. Allison. 2018. “The Power of Positivity? The Influence of Positive Psychological Capital Language on Crowdfunding Performance.” Journal of Business Venturing 33 (4): 470–492. https://doi.org/10.1016/j.jbusvent.2018.03.003.
  • Anglin, Aaron H., Jeremy C. Short, David J. Ketchen, Thomas H. Allison, and Aaron F. McKenny. 2020. “Third-Party Signals in Crowdfunded Microfinance: The Role of Microfinance Institutions.” Entrepreneurship Theory and Practice 44 (4): 623–644. https://doi.org/10.1177/1042258719839709.
  • Anglin, Aaron H., Marcus T. Wolfe, Jeremy C. Short, Aaron F. McKenny, and Robert J. Pidduck. 2018. “Narcissistic Rhetoric and Crowdfunding Performance: A Social Role Theory Perspective.” Journal of Business Venturing 33 (6): 780–812. https://doi.org/10.1016/j.jbusvent.2018.04.004.
  • Asch, S. E. 1946. “Forming Impressions of Personality.” Journal of Abnormal Psychology 41 (3): 258–290. https://doi.org/10.1037/h0055756.
  • Bapna, Sofia. 2019. “Complementarity of Signals in Early-Stage Equity Investment Decisions: Evidence from a Randomized Field Experiment.” Management Science 65 (2): 933–952. https://doi.org/10.1287/mnsc.2017.2833.
  • Barbi, Massimiliano, and Sara Mattioli. 2019. “Human Capital, Investor Trust, and Equity Crowdfunding.” Research in International Business and Finance 49:1–12. https://doi.org/10.1016/j.ribaf.2019.02.005.
  • Barrick, Murray R., Michael K. Mount, and Timothy A. Judge. 2001. “Personality and Performance at the Beginning of the New Millennium: What Do We Know and Where Do We Go Next?” International Journal of Selection and Assessment 9 (1&2): 9–30. https://doi.org/10.1111/1468-2389.00160.
  • Benjamin, Daniel J., and Jesse M. Shapiro. 2009. “Thin-Slice Forecasts of Gubernatorial Elections.” The Review of Economics and Statistics 91 (33): 523–536. https://doi.org/10.1162/rest.91.3.523.
  • Bernardino, Susana, and J. F. Santos. 2016. “Financing Social Ventures by Crowdfunding.” The International Journal of Entrepreneurship and Innovation 17 (3): 173–183. https://doi.org/10.1177/1465750316655903.
  • Bhagwat, Vineet. 2011. “Manager Networks and Investment Syndication: Evidence from Venture Capital.” SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1962146.
  • Bi, Sheng, Zhiying Liu, and Khalid Usman. 2017. “The Influence of Online Information on Investing Decisions of Reward-Based Crowdfunding.” Journal of Business Research 71:10–18. https://doi.org/10.1016/j.jbusres.2016.10.001.
  • Biswas, Dipayan, and Abhijit Biswas. 2004. “The Diagnostic Role of Signals in the Context of Perceived Risks in Online Shopping: Do Signals Matter More on the Web?” Journal of Interactive Marketing 18 (3): 30–45. https://doi.org/10.1002/dir.20010.
  • Blankespoor, Elizabeth, Bradley E. Hendricks, and Gregory S. Miller. 2017. “Perceptions and Price: Evidence from CEO Presentations at IPO Roadshows.” Journal of Accounting Research 55 (2): 275–327. https://doi.org/10.1111/1475-679X.12164.
  • Block, Jorn, Lars Hornuf, and Alexandra Moritz. 2018. “Which Updates During an Equity Crowdfunding Campaign Increase Crowd Participation?” Small Business Economics 50 (1): 3–27. https://doi.org/10.1007/s11187-017-9876-4.
  • Bollaert, Helen, Gaël Leboeuf, and Armin Schwienbacher. 2019. “The Narcissism of Crowdfunding Entrepreneurs.” Small Business Economics 47 (4): 819. https://doi.org/10.1007/s11187-019-00145-w.
  • Bozionelos, Nikos. 2004. “The Big Five of Personality and Work Involvement.” Journal of Managerial Psychology 19 (1): 69–81. https://doi.org/10.1108/02683940410520664.
  • Bretschneider, Ulrich, and Jan M. Leimeister. 2017. “Not Just an Ego-Trip: Exploring backers’ Motivation for Funding in Incentive-Based Crowdfunding.” Journal of Strategic Information Systems 26 (4): 246–260. https://doi.org/10.1016/j.jsis.2017.02.002.
  • Chan, C. S. R., and Annaleena Parhankangas. 2017. “Crowdfunding Innovative Ideas: How Incremental and Radical Innovativeness Influence Funding Outcomes.” Entrepreneurship Theory and Practice 41 (2): 237–263. https://doi.org/10.1111/etap.12268.
  • Chan, C.S. Richard, Annaleena Parhankangas, Arvin Sahaym, and Pyayt Oo. 2020. “Bellwether and the Herd? Unpacking the U-Shaped Relationship Between Prior Funding and Subsequent Contributions in Reward-Based Crowdfunding.” Journal of Business Venturing 35 (2): 105934. https://doi.org/10.1016/j.jbusvent.2019.04.002.
  • Chen, Xiao-Ping, Xin Yao, and Suresh Kotha. 2009. “Entrepreneur Passion and Preparedness in Business Plan Presentations: A Persuasion Analysis of Venture Capitalists’ Funding Decisions.” Academy of Management Journal 52 (1): 199–214. https://doi.org/10.5465/amj.2009.36462018.
  • Cholakova, Magdalena, and Bart Clarysse. 2015. “Does the Possibility to Make Equity Investments in Crowdfunding Projects Crowd Out Reward–Based Investments?” Entrepreneurship Theory and Practice 39 (1): 145–172. https://doi.org/10.1111/etap.12139.
  • Ciavarella, Mark A., Ann K. Buchholtz, Christine M. Riordan, Robert D. Gatewood, and Garnett S. Stokes. 2004. “The Big Five and Venture Survival: Is There a Linkage?” Journal of Business Venturing 19 (4): 465–483. https://doi.org/10.1016/j.jbusvent.2003.03.001.
  • Cicchiello, A. Francesca, and Kazemikhasragh, A. (2022). Tackling gender bias in equity crowdfunding: an exploratory study of investment behaviour of Latin American investors. EBR, 34(3), 370–395. https://doi.org/10.1108/EBR-08-2021-0187.
  • Colombo, Oskar. 2020. “The Use of Signals in New-Venture Financing: A Review and Research Agenda.” Journal of Management 38:014920632091109. https://doi.org/10.1177/0149206320911090.
  • Connelly, Brian L., S. T. Certo, R. D. Ireland, and Christopher R. Reutzel. 2011. “Signaling Theory: A Review and Assessment.” Journal of Management 37 (1): 39–67. https://doi.org/10.1177/0149206310388419.
  • Connelly, Brian S., and Ute R. Hülsheger. 2012. “A Narrower Scope or a Clearer Lens for Personality? Examining Sources of Observers’ Advantages Over Self-Reports for Predicting Performance.” Journal of Personality 80 (3): 603–631. https://doi.org/10.1111/j.1467-6494.2011.00744.x.
  • Costa, Paul T., and Robert R. McCrae. 1988. “Personality in Adulthood: A Six-Year Longitudinal Study of Self-Reports and Spouse Ratings on the NEO Personality Inventory.” Journal of Personality and Social Psychology 54 (5): 853–863. https://doi.org/10.1037/0022-3514.54.5.853.
  • Costa P. T., Jr, and Robert R. McCrae. 1995. “Domains and Facets: Hierarchical Personality Assessment Using the Revised NEO Personality Inventory.” Journal of Personality Assessment 64 (1): 21–50. https://doi.org/10.1207/s15327752jpa6401_2.
  • Courtney, Christopher, Supradeep Dutta, and Yong Li. 2017. “Resolving Information Asymmetry: Signaling, Endorsement, and Crowdfunding Success.” Entrepreneurship Theory and Practice 41 (2): 265–290. https://doi.org/10.1111/etap.12267.
  • Cumming, Douglas, Fabrice Hervé, Elodie Manthé, and Armin Schwienbacher. 2020. “Testing-The-Waters Policy with Hypothetical Investment: Evidence from Equity Crowdfunding.” Entrepreneurship Theory and Practice 49 (3): 104225872093252. https://doi.org/10.1177/1042258720932522.
  • Davis, Blakley C., Keith M. Hmieleski, Justin W. Webb, and Joseph E. Coombs. 2017. “Funders’ Positive Affective Reactions to Entrepreneurs’ Crowdfunding Pitches: The Influence of Perceived Product Creativity and Entrepreneurial Passion.” Journal of Business Venturing 32 (1): 90–106. https://doi.org/10.1016/j.jbusvent.2016.10.006.
  • Epstein, Larry G., and Martin Schneider. 2008. “Ambiguity, Information Quality, and Asset Pricing.” The Journal of Finance 63 (1): 197–228. https://doi.org/10.1111/j.1540-6261.2008.01314.x.
  • Ericsson, Karl A., and Herbert A. Simon. 1993. Protocol Analysis: Verbal Reports as Data. Rev. ed. Cambridge, Mass: MIT Press. http://cognet.mit.edu/library/books/book.tcl?isbn=0262050471.
  • Fama, Eugene F. 1970. “Efficient Capital Markets: A Review of Theory and Empirical Work.” The Journal of Finance 25 (2): 383. https://doi.org/10.2307/2325486.
  • Gera, Jaya, and Harmeet Kaur. 2018. “Influence of Personality Traits on Campaign Success.” In 8th International Conference on Cloud Computing, Data Science & Engineering (Confluence), Noida, India. 14–15. IEEE. https://doi.org/10.1109/CONFLUENCE.2018.8442496.
  • Gerber, Elizabeth M., and Julie Hui. 2013. “Crowdfunding: Motivations and Deterrents for Participation.” ACM Transactions on Computer-Human Interaction 20 (6): 1–32. https://doi.org/10.1145/2530540.
  • Göritz, Anja S. 2010. “Using Lotteries, Loyalty Points, and Other Incentives to Increase Participant Response and Completion.” In Advanced Methods for Conducting Online Behavioral Research, edited by Samuel D. Gosling and John A. Johnson, 219–233. Washington: American Psychological Association. https://doi.org/10.1037/12076-014.
  • Gosling, Samuel D., Peter J. Rentfrow, and William B. Swann. 2003. “A Very Brief Measure of the Big-Five Personality Domains.” Journal of Research in Personality 37 (6): 504–528. https://doi.org/10.1016/S0092-6566(03)00046-1.
  • Granovetter, Mark 2018. “The Impact of Social Structure on Economic Outcomes.” The Sociology of Economic Life, edited by M. Granovetter and R. Swedberg, 46–61. New York: Routledge. https://doi.org/10.4324/9780429494338-4.
  • Greenberg, Jason, and Ethan Mollick. 2017. “Activist Choice Homophily and the Crowdfunding of Female Founders.” Administrative Science Quarterly 62 (2): 341–374. https://doi.org/10.1177/0001839216678847.
  • Gupta, Abhinav, Sucheta Nadkarni, and Misha Mariam. 2019. “Dispositional Sources of Managerial Discretion: CEO Ideology, CEO Personality, and Firm Strategies.” Administrative Science Quarterly 64 (4): 855–893. https://doi.org/10.1177/0001839218793128.
  • Hegde, Deepak, and Justin Tumlinson. 2014. “Does Social Proximity Enhance Business Partnerships? Theory and Evidence from Ethnicity’s Role in U.S. Venture Capital.” Management Science 60 (9): 2355–2380. https://doi.org/10.1287/mnsc.2013.1878.
  • Herzenstein, Michal, Scott Sonenshein, and Utpal M. Dholakia. 2011. “Tell Me a Good Story and I May Lend You Money: The Role of Narratives in Peer-To-Peer Lending Decisions.” Journal of Marketing Research 48 (SPL): S138–S149. https://doi.org/10.1509/jmkr.48.SPL.S138.
  • Hill, Aaron D., Oleg V. Petrenko, Jason W. Ridge, and Federico Aime. 2019. “Videometric Measurement of Individual Characteristics in Difficult to Access Subject Pools: Demonstrating with Ceos.” In Vol. 11 Standing on the Shoulders of Giants, edited by Brian Boyd, T. R. Crook, Jane K. Lê, and Anne D. Smith, 39–61. Research Methodology in Strategy and Management. Bingley: Emerald Publishing Limited. https://doi.org/10.1108/S1479-838720190000011005.
  • Hogan, Joyce, and Deniz S. Ones. 1997. “Conscientiousness and Integrity at Work.” In Handbook of personality psychology, edited by Briggs, Hogan and Johnson, 849–870. Amsterdam: Elsevier. https://doi.org/10.1016/B978-012134645-4/50033-0.
  • Hogan, Robert, and Dana Shelton. 1998. “A Socioanalytic Perspective on Job Performance.” Human Performance 11 (2–3): 129–144. https://doi.org/10.1080/08959285.1998.9668028.
  • Isaak, Andrew J., Julia Neuhaus, and Denefa Bostandzic. 2021. “Success Lies in the Eye of the Beholder: Personality Traits, Negativity Bias and Equity Crowdfunding.” Academy of Management Proceedings 2021 (1): 11151. https://doi.org/10.5465/AMBPP.2021.164.
  • Jensen, Michael C., and William H. Meckling. 1979. “Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure.” In Vol. 1 Economics Social Institutions, edited by Karl Brunner, 163–231. Rochester Studies in Economics and Policy Issues. Dordrecht: Springer Netherlands. https://doi.org/10.4324/9781315191157-9.
  • Johnson, Michael A., Regan M. Stevenson, and Chaim R. Letwin. 2018. “A Woman’s Place is in the … Startup! Crowdfunder Judgments, Implicit Bias, and the Stereotype Content Model.” Journal of Business Venturing 33 (6): 813–831. https://doi.org/10.1016/j.jbusvent.2018.04.003.
  • Judge, Timothy A., Chad A. Higgins, Carl J. Thoresen, and Murray R. Barrick. 1999. “The Big Five Personality Traits, General Mental Ability, and Career Success Across the Life Span.” Personnel Psychology 52 (3): 621–652. https://doi.org/10.1111/j.1744-6570.1999.tb00174.x.
  • Judge, Timothy A., and Remus Ilies. 2002. “Relationship of Personality to Performance Motivation: A Meta-Analytic Review.” Journal of Applied Psychology 87 (4): 797–807. https://doi.org/10.1037/0021-9010.87.4.797.
  • Kang, Minghui, Yiwen Gao, Tao Wang, and Haichao Zheng. 2016. “Understanding the Determinants of funders’ Investment Intentions on Crowdfunding Platforms.” Industrial Management & Data Systems 116 (8): 1800–1819. https://doi.org/10.1108/IMDS-07-2015-0312.
  • Kim, Myung J., and C. M. Hall. 2021. “Do Value-Attitude-Behavior and Personality Affect Sustainability Crowdfunding Initiatives?” Journal of Environmental Management 280:111827. https://doi.org/10.1016/j.jenvman.2020.111827.
  • Le Pendeven, Benjamin, and Armin Schwienbacher. 2023. “Equity Crowdfunding: The Influence of Perceived Innovativeness on Campaign Success.” British Journal of Management 34 (1): 280–298. https://doi.org/10.1111/1467-8551.12585.
  • Liu, Lili, Ayoung Suh, and Christian Wagner. 2018. “Empathy or Perceived Credibility? An Empirical Study on Individual Donation Behavior in Charitable Crowdfunding.” Internet Research 28 (3): 623–651. https://doi.org/10.1108/IntR-06-2017-0240.
  • Loewenstein, George, Cass R. Sunstein, and Russell Golman. 2014. “Disclosure: Psychology Changes Everything.” Annual Review of Economics 6 (1): 391–419. https://doi.org/10.1146/annurev-economics-080213-041341.
  • McAdams, Dan P., and Jennifer L. Pals. 2006. “A New Big Five: Fundamental Principles for an Integrative Science of Personality.” The American Psychologist 61 (3): 204–217. https://doi.org/10.1037/0003-066X.61.3.204.
  • McCrae, Robert R., and Paul T. Costa. 1987. “Validation of the Five-Factor Model of Personality Across Instruments and Observers.” Journal of Personality and Social Psychology 52 (1): 81–90. https://doi.org/10.1037/0022-3514.52.1.81.
  • McKenny, Aaron F., Herman Aguinis, Jeremy C. Short, and Aaron H. Anglin. 2018. “What Doesn’t Get Measured Does Exist: Improving the Accuracy of Computer-Aided Text Analysis.” Journal of Management 44 (7): 2909–2933. https://doi.org/10.1177/0149206316657594.
  • McPherson, Miller, Lynn Smith-Lovin, and James M. Cook. 2001. “Birds of a Feather: Homophily in Social Networks.” Annual Review of Sociology 27 (1): 415–444. https://doi.org/10.1146/annurev.soc.27.1.415.
  • Mitteness, Cheryl, Richard Sudek, and Melissa S. Cardon. 2012. “Angel Investor Characteristics That Determine Whether Perceived Passion Leads to Higher Evaluations of Funding Potential.” Journal of Business Venturing 27 (5): 592–606. https://doi.org/10.1016/j.jbusvent.2011.11.003.
  • Mollick, Ethan. 2014. “The Dynamics of Crowdfunding: An Exploratory Study.” Journal of Business Venturing 29 (1): 1–16. https://doi.org/10.1016/j.jbusvent.2013.06.005.
  • Morgan, Robert M., and Shelby D. Hunt. 1994. “The Commitment-Trust Theory of Relationship Marketing.” Journal of Marketing 58 (3): 20–38. https://doi.org/10.1177/002224299405800302.
  • Moritz, Alexandra, Joern Block, and Eva Lutz. 2015. “Investor Communication in Equity-Based Crowdfunding: A Qualitative-Empirical Study.” Qualitative Research in Financial Markets 7 (3): 309–342. https://doi.org/10.1108/QRFM-07-2014-0021.
  • Mount, Michael K., Murray R. Barrick, and J. P. Strauss. 1994. “Validity of Observer Ratings of the Big Five Personality Factors.” Journal of Applied Psychology 79 (2): 272–280. https://doi.org/10.1037/0021-9010.79.2.272.
  • Muck, Peter M., Benedikt Hell, and Samuel D. Gosling. 2007. “Construct Validation of a Short Five-Factor Model Instrument.” European Journal of Psychological Assessment 23 (3): 166–175. https://doi.org/10.1027/1015-5759.23.3.166.
  • Munim, Z. Haque, R. Shneor, O. Michael Adewumi, and M. Hassan Shakil. (2021). Determinants of crowdfunding intention in a developing economy: ex-ante evidence from Bangladesh. IJOEM, 16(6), 1105–1125. https://doi.org/10.1108/IJOEM-08-2019-0657.
  • Murnieks, Charles, Richard Sudek, and Robert Wiltbank. 2015. “The Role of Personality in Angel Investing.” The International Journal of Entrepreneurship and Innovation 16 (1): 19–31. https://doi.org/10.5367/ijei.2015.0171.
  • Mutschmann, Martin, Tim Hasso, and Matthias Pelster. 2022. “Dark Triad Managerial Personality and Financial Reporting Manipulation.” Journal of Business Ethics: JBE 181 (3): 763–788. https://doi.org/10.1007/s10551-021-04959-1.
  • Myszkowski, Nils, Martin Storme, and Jean-Louis Tavani. 2019. “Are Reflective Models Appropriate for Very Short Scales? Proofs of Concept of Formative Models Using the Ten-Item Personality Inventory.” Journal of Personality 87 (2): 363–372. https://doi.org/10.1111/jopy.12395.
  • Nevin, Sean, Rob Gleasure, Philip O’Reilly, Joseph Feller, Shanping Li, and Jerry Cristoforo. 2017. “Social Identity and Social Media Activities in Equity Crowdfunding.” In Proceedings of the 13th International Symposium on Open Collaboration - OpenSym ’17, edited by Lorraine Morgan, 1–8. New York, New York, USA: ACM Press. https://doi.org/10.1145/3125433.3125461.
  • Obschonka, Martin, and Michael Stuetzer. 2017. “Integrating Psychological Approaches to Entrepreneurship: The Entrepreneurial Personality System (EPS).” Small Business Economics 49 (1): 203–231. https://doi.org/10.1007/s11187-016-9821-y.
  • Oh, In-Sue, Gang Wang, and Michael K. Mount. 2011. “Validity of Observer Ratings of the Five-Factor Model of Personality Traits: A Meta-Analysis.” Journal of Applied Psychology 96 (4): 762–773. https://doi.org/10.1037/a0021832.
  • Perry, John, Masud Chand, and Kirk Ring. 2015. “Cultural Influences in the Decision to Invest in New Ventures: An Exploratory Study.” Venture Capital 17 (3): 237–262. https://doi.org/10.1080/13691066.2015.1051738.
  • Petrenko, Oleg V., Federico Aime, Jason Ridge, and Aaron Hill. 2016. “Corporate Social Responsibility or CEO Narcissism? CSR Motivations and Organizational Performance.” Strategic Management Journal 37 (2): 262–279. https://doi.org/10.1002/smj.2348.
  • Piva, Evila, and Cristina Rossi-Lamastra. 2018. “Human Capital Signals and entrepreneurs’ Success in Equity Crowdfunding.” Small Business Economics 51 (3): 667–686. https://doi.org/10.1007/s11187-017-9950-y.
  • Podsakoff, Philip M., Scott B. MacKenzie, Jeong-Yeon Lee, and Nathan P. Podsakoff. 2003. “Common Method Biases in Behavioral Research: A Critical Review of the Literature and Recommended Remedies.” The Journal of Applied Psychology 88 (5): 879–903. https://doi.org/10.1037/0021-9010.88.5.879.
  • Prodromos, Kontogiannidis, Georgios Theriou, and Lazaros Sarigiannidis. 2014. “Crowdfunding: The Factors That Affect the Intention of Users/Consumers to Participate Financially at Crowdfunding Projects.” Practical Issues in Management and Economics 7 (1): 49–70. https://doi.org/10.1504/IJWBC.2017.082721.
  • Rauch, Andreas, and Michael Frese. 2014. “Born to Be an Entrepreneur? Revisiting the Personality Approach to Entrepreneurship.” In The Psychology of Entrepreneurship, edited by J. R. Baum, Michael Frese, and Robert A. Baron, 73–98. SIOP organizational frontier series. East Sussex [England]: Psychology Press. https://doi.org/10.4324/9781315750989-11/.
  • Romero, Estrella, Paula Villar, J. A. Gómez-Fraguela, and Laura López-Romero. 2012. “Measuring Personality Traits with Ultra-Short Scales: A Study of the Ten Item Personality Inventory (TIPI) in a Spanish Sample.” Personality and Individual Differences 53 (3): 289–293. https://doi.org/10.1016/j.paid.2012.03.035.
  • Rule, Nicholas, and Nalini Ambady. 2010. “First Impressions of the Face: Predicting Success.” Social and Personality Psychology Compass 4 (8): 506–516. https://doi.org/10.1111/j.1751-9004.2010.00282.x.
  • Sellen, Abigail J. 1992. “Speech Patterns in Video-Mediated Conversations.” In Proceedings of the SIGCHI conference on Human factors in computing systems - CHI ’92, edited by Penny Bauersfeld, John Bennett, and Gene Lynch, 49–59. New York, New York, USA: ACM Press. https://doi.org/10.1145/142750.142756.
  • Simon, Mark, Steven J. Stanton, Janell D. Townsend, and John Kim. 2019. “A Multi-Method Study of Social Ties and Crowdfunding Success: Opening the Black Box to Get the Cash Inside.” Journal of Business Research 104:206–214. https://doi.org/10.1016/j.jbusres.2019.07.010.
  • Spence, Michael. 1978. “Job Marketing Signaling.” In Uncertainty in Economics, edited by Peter Diamond and Michael Rothschild, 281–306. Cambridge, MA: Elsevier. https://doi.org/10.1016/B978-0-12-214850-7.50025-5.
  • Strohmaier, David, Jianqiu Zeng, and Muhammad Hafeez. 2019. “Trust, Distrust, and Crowdfunding: A Study on Perceptions of Institutional Mechanisms.” Telematics and Informatics 43:101252. https://doi.org/10.1016/j.tele.2019.101252.
  • Sundermeier, Janina, and Tyge Kummer. 2019. “Startup Founders’ Personality Attributes in Crowdfunding Campaigns: The Relevance of Hubris and Charisma in Raising Seed Funding Online.” In Proceedings of the 52nd Hawaii International Conference on System Sciences, edited by Tung Bui. Grand Wailea, Hawaii.
  • Thies, Ferdinand, Michael Wessel, Jan Rudolph, and Alexander Benlian. 2016. “Personality Matters: How Signaling Personality Traits Can Influence the Adoption and Diffusion of Crowdfunding Campaigns.” Research Papers 36. https://aisel.aisnet.org/ecis2016_rp/36.
  • Vismara, Silvio. 2016. “Equity Retention and Social Network Theory in Equity Crowdfunding.” Small Business Economics 46 (4): 579–590. https://doi.org/10.1007/s11187-016-9710-4.
  • von Selasinsky, Constantin, and Andrew J. Isaak. 2020. “It’s All in the (Sub-)Title? Expanding Signal Evaluation in Crowdfunding Research.” In 28th European Conference on Information Systems , edited by Frantz Rowe, Redouane E. Amrani, Moez Limayem, Sue Newell, Nancy Pouloudi, Eric van Heck, and Ali E. Quammah, 56:1–10. Marrakech, Morocco. https://aisel.aisnet.org/ecis2020_rip/56.
  • Vulkan, Nir, Thomas Åstebro, and Manuel F. Sierra. 2016. “Equity Crowdfunding: A New Phenomena.” Journal of Business Venturing Insights 5:37–49. https://doi.org/10.1016/j.jbvi.2016.02.001.
  • Wang, Tao, Yalan Li, Minghui Kang, and Haichao Zheng. 2019. “Exploring individuals’ Behavioral Intentions Toward Donation Crowdfunding: Evidence from China.” Industrial Management & Data Systems 119 (7): 1515–1534. https://doi.org/10.1108/IMDS-10-2018-0451.
  • Watson, David, and Lee A. Clark. 1997. “Extraversion and Its Positive Emotional Core.” In Handbook of Personality Psychology, edited by Briggs, Hogan, John Johnson, and Stephan, Briggs, 767–793. Amsterdam: Elsevier. https://doi.org/10.1016/B978-012134645-4/50030-5.
  • Younkin, Peter, and Venkat Kuppuswamy. 2018. “The Colorblind Crowd? Founder Race and Performance in Crowdfunding.” Management Science 64 (7): 3269–3287. https://doi.org/10.1287/mnsc.2017.2774.
  • Zhang, Chan, Steven Lonn, and Stephanie D. Teasley. 2017. “Understanding the Impact of Lottery Incentives on Web Survey Participation and Response Quality.” Field Methods 29 (1): 42–60. https://doi.org/10.1177/1525822X16647932.
  • Zhao, Hao, Scott E. Seibert, and G. T. Lumpkin. 2010. “The Relationship of Personality to Entrepreneurial Intentions and Performance: A Meta-Analytic Review.” Journal of Management 36 (2): 381–404. https://doi.org/10.1177/0149206309335187.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.