A quantitative study on crowdfunders' motivations, their sense of meaning and social welfare

Abstract

Purpose In recent years, crowdfunding has developed as a new fundraising alternative. Yet, the effects of the backing experience in reward and donation-based crowdfunding (DBCF) on well-being were researched only through qualitative practices. The current study offers a novel quantitative inquiry of the association between backing motivation and backers' well-being. Design/methodology/approach The study is based on a uniform questionnaire distributed among 700 Israeli adults, which included questions about backing experience, sense of meaning and social welfare. Findings The results indicate that only intrinsic backing motivation is associated with the sense of meaning in life. Non-investment crowdfunding offers a platform for people who are intrinsically motivated to increase their sense of meaning in life. Moreover, the authors find that the tendency to back further projects is associated with backers' sense of meaning in life. Social implications The findings can promote a better matching between backers' desire for living the good life and entrepreneurs' desire to reach their funding targets. Social welfare implications are discussed. Originality/value The linkage between backers' well-being and crowdfunding has not been explored in quantitative studies. Hence, the study offers a novel approach and some new insights on this linkage.

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