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This article explores the impact of different types of products and rewards on the amount of funds raised in reward-based crowdfunding (RBCF). Specifically, we have analyzed two different product types, i.e., based on individual ownership or temporary use, and four types of rewards, i.e., prototype, branded promotional item, special edition, and discount. Results of a within-subject survey-based experiment indicate that individual ownership products obtain more funds than temporary use products. In addition, depending on the product type, some rewards are more effective in attracting funds from backers. These outcomes extend the application of Signaling Theory in the context of RBCF, as backers respond to multiple signals connected to both product and reward types because they are related to the likelihood of project realization, and of Self-Determination Theory, as backers are nonprofessionals and contribute their money mainly for the satisfaction of supporting what they consider valuable entrepreneurial projects. The findings of this article advance the scientific understanding of RBCF and provide advice for entrepreneurs on how to properly craft their call for money depending on the type of product proposed to the crowd.
Francesco Cappa; Stefano Franco; Edoardo Ferrucci; Riccardo Maiolini. The Impact of Product and Reward Types in Reward-Based Crowdfunding. IEEE Transactions on Engineering Management 2021, PP, 1 -12.
AMA StyleFrancesco Cappa, Stefano Franco, Edoardo Ferrucci, Riccardo Maiolini. The Impact of Product and Reward Types in Reward-Based Crowdfunding. IEEE Transactions on Engineering Management. 2021; PP (99):1-12.
Chicago/Turabian StyleFrancesco Cappa; Stefano Franco; Edoardo Ferrucci; Riccardo Maiolini. 2021. "The Impact of Product and Reward Types in Reward-Based Crowdfunding." IEEE Transactions on Engineering Management PP, no. 99: 1-12.
This study examines how the success of reward-based crowdfunding (RBCF) is affected by two narrative styles—namely “results in progress” (RIP) and “ongoing journey” (OJ)—and by the entrepreneur’s RBCF experience. Our findings reveal that greater success in collecting funds is achieved by RBCF campaigns that are communicated through RIP narrative styles rather than OJ styles. Moreover, we have underscored the positive effect brought about by an entrepreneur’s RBCF experience. In addition, we highlight how these two factors interact with each other in their overall effect on successful fundraising through RBFC, showing that entrepreneurs with extensive experience in RBCF attract more pledges by adopting OJ narratives rather than RIP narratives. The outcomes of this study advance the theoretical understanding of success factors in RBCF and provide RBCF entrepreneurs with suggestions regarding the most appropriate narrative style to adopt, depending on their level of experience.
Francesco Cappa; Michele Pinelli; Riccardo Maiolini; Maria Isabella Leone. “Pledge” me your ears! The role of narratives and narrator experience in explaining crowdfunding success. Small Business Economics 2020, 57, 953 -973.
AMA StyleFrancesco Cappa, Michele Pinelli, Riccardo Maiolini, Maria Isabella Leone. “Pledge” me your ears! The role of narratives and narrator experience in explaining crowdfunding success. Small Business Economics. 2020; 57 (2):953-973.
Chicago/Turabian StyleFrancesco Cappa; Michele Pinelli; Riccardo Maiolini; Maria Isabella Leone. 2020. "“Pledge” me your ears! The role of narratives and narrator experience in explaining crowdfunding success." Small Business Economics 57, no. 2: 953-973.
Social entrepreneurship (third sector) is an increasingly important global economic phenomenon that is squarely under the academic lens. Social entrepreneurship represents an interesting opportunity for policy makers to explore new frontiers of economic growth and implement innovation in a potentially growing services sector with possible job opportunities coming from new job creation in the upcoming decades. Based on evidence from Italy, this paper considers the broader picture of this phenomenon. Addressing the need to better understand the drivers of social entrepreneurship policy, we propose a model for interpreting the impact of the recent Italian reform of the third sector at various levels of the ecosystem, which favors innovation, technology adaptation, and greater employability. The presented results contribute to laying the foundation for the further development of a theory of entrepreneurship policy.
Silvia Carnini Pulino; John Cabot University; Riccardo Maiolini; Paolo Venturi; University of Bologna. Social Entrepreneurship Policy: Evidences from the Italian Reform. Foresight and STI Governance 2019, 13, 77 -88.
AMA StyleSilvia Carnini Pulino, John Cabot University, Riccardo Maiolini, Paolo Venturi, University of Bologna. Social Entrepreneurship Policy: Evidences from the Italian Reform. Foresight and STI Governance. 2019; 13 (3):77-88.
Chicago/Turabian StyleSilvia Carnini Pulino; John Cabot University; Riccardo Maiolini; Paolo Venturi; University of Bologna. 2019. "Social Entrepreneurship Policy: Evidences from the Italian Reform." Foresight and STI Governance 13, no. 3: 77-88.
Previous research suggests that the body of Social Innovation literature is increasing in terms of scholarly contributions. The field is described as phenomenally based and hypothetically fragmented, with a set of emerging theoretical contributions filling the gaps. This article explores the domain of Social Innovation identifying its principal characteristics through a taxonomy proposal.
Matteo Giuliano Caroli; Eleonora Fracassi; Riccardo Maiolini; Silvia Carnini Pulino. Exploring Social Innovation Components and Attributes: A Taxonomy Proposal. Journal of Social Entrepreneurship 2018, 9, 94 -109.
AMA StyleMatteo Giuliano Caroli, Eleonora Fracassi, Riccardo Maiolini, Silvia Carnini Pulino. Exploring Social Innovation Components and Attributes: A Taxonomy Proposal. Journal of Social Entrepreneurship. 2018; 9 (2):94-109.
Chicago/Turabian StyleMatteo Giuliano Caroli; Eleonora Fracassi; Riccardo Maiolini; Silvia Carnini Pulino. 2018. "Exploring Social Innovation Components and Attributes: A Taxonomy Proposal." Journal of Social Entrepreneurship 9, no. 2: 94-109.
Riccardo Maiolini; Alessandro Marra; Cristiano Baldassarri; Vittorio Carlei. Digital Technologies for Social Innovation: An Empirical Recognition on the New Enablers. Journal of technology management & innovation 2016, 11, 22 -28.
AMA StyleRiccardo Maiolini, Alessandro Marra, Cristiano Baldassarri, Vittorio Carlei. Digital Technologies for Social Innovation: An Empirical Recognition on the New Enablers. Journal of technology management & innovation. 2016; 11 (4):22-28.
Chicago/Turabian StyleRiccardo Maiolini; Alessandro Marra; Cristiano Baldassarri; Vittorio Carlei. 2016. "Digital Technologies for Social Innovation: An Empirical Recognition on the New Enablers." Journal of technology management & innovation 11, no. 4: 22-28.