Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 15, 2021 erstellt
Beschreibung:
Crowdfunding refers to the process of gathering small sums of money from the general public to finance the donation, charity, development of goods or services and start-up entrepreneurs, the adoption of crowdfunding for funding different types of projects is widespread, but in developing countries, its adoption among the startups' entrepreneurs is significantly low. The aim of this study is to identify the motivational factors that influence the intentions of entrepreneurs to adopt crowdfunding and to establish the usefulness of crowdfunding as a viable new funding alternative in Pakistan. The Unified Theory of Acceptance and Use of Technology (UTAUT) model with extensions is used in the study. Motivation Factors identified included Performance Expectancy (PE), Effort Expectancy (EE), Social Influence (SI), Facilitating Condition (FC), Hedonic Motivation (HM). The Effect of these factors on crowdfunding intentions (BI) was mediated by Perceived Risk (PR), Perceived Benefits (PB), and Perceived Trust (PT). The data was collected from 309 respondents and analyzed using Partial Least Squares-based Structural Equation Modeling (PLS-SEM). Results indicate that the performance expectancy, social influence, Hedonic motivation, and perceived trust seem to be significantly and positively affecting the entrepreneurs’ behavior intention to adopt crowdfunding. In contrast effort expectancy, facilitating condition, perceived risk, and perceived benefits were not found to be significant determinants. Furthermore, a significant relationship has been identified between behavioral intention and use behavior. Finally, this paper presents suggestions for how to increase users’ intention to adopt crowdfunding platforms for financing their start-ups. The research also provided useful insights to crowdfunding platforms, incubation centers, entrepreneurship clubs, universities that foster startups and policymakers to use the identified motivators and demotivators as a tool to develop strategies and change existing policies to encourage start-ups to use crowdfunding