Fighting for Funds: An Exploratory Study into the Field of Crowdfunding

Sammanfattning: Thesis Purpose: This thesis investigates users of crowdfunding platforms in order to further the insight into understanding what affects their motives and behaviour. The relationship between intrinsic and extrinsic motivation as well as peer influence is investigated. Theoretical Perspective: This study is grounded on the limited theories surrounding crowdfunding and crowdsourcing, as well as relevant theories in the neighbouring fields of intrinsic and extrinsic motivation, investment decision-making, early stage-investment, informal investing, informal venture capitalists, online collaboration, and business angels. Methodology: Exploration of the predicted relationships was tested in a quantitative cross-sectional design. Data was gathered by means of a web-based Likert scale questionnaire, which was distributed to crowdfunders primarily by crowdfunding platform administrators, and through the use of Facebook, Linkedin, and Twitter. Analysis: This study relies on quantitative data analysis. As part of this analysis, the authors made use of correlation, regression and factor analyses in order to find patterns in the data that resemble and contradict findings in the theoretical framework. Conclusions: The findings confirm that: there are two major groups of individuals that crowdfund; more people engage for intrinsic reasons than might be expected; frequency and amount are reflected in motivational reasons for engagement; age does influence funding behaviours; and crowdfunders share similarities and differences with individuals in related fields.