Supported by a silver spoon matter? An empirical study shows the performance of venture capital investment on reward-based crowdfunding
| Autor: | Han-Kun Tien, 田翰昆 |
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| Rok vydání: | 2019 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 107 A growing number of start-ups secure the seed round or series A fundings through crowdfunding to facilitate the product development and marketing nowadays. By observing projects that were funded through crowdfunding, we can find that some of the startups which propose crowdfunding campaigns are funded by Venture Capitals (VCs) before obtaining funds through crowdfunding, that is, startups born with silver spoons. Comparing startups without being invested by Venture Capitals (VC) with the startups funded by VCs, the funded startups are equipped with more plentiful pitch experiences. In addition, to receive funds from VCs, VCs can leverage their distinct “network” to provide start-ups assistance in the production and marketing. Therefore, in this project, we want to discuss that whether the startups born with silver spoons are likely to get success in crowdfunding. In light of these concerns, there are three issues which will be discussed by comparing the crowdfunding performance of projects that received funds from VCs with the crowdfunding performance of projects without VCs support: (1) Whether the crowdfunding projects supported by VCs are more successful in crowdfunding? (2) Whether the crowdfunding projects supported by VCs attract more backers? (3) Whether the crowdfunding projects supported by VCs secure more funds? In addition, on account of inconsistent result of factors which have an impact on crowdfunding success according to past researches, we will re-examine these factors by analyzing the data we collect. These issues make us better at understanding the effect of resources provided by VCs on crowdfunding performance of startups. The result shows that VCs do not have significant impact on startups success in crowdfunding; however, the result also supports that the impact of network and market experience provided by VCs make startups successful not only in the initial investment but in the crowdfunding. Beside, we also find that, mastery of market demand and Matthew effect has a vital impact on crowdfunding success. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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