Unpacking the Antecedents of Crowdfunding Campaign’s Success: The Effects of Social Media and Innovation Orientation
基于能力视角，研究创新导向和社交媒体战略使用如何共同影响企业众筹活动的成功，发现创新导向通过社交媒体使用间接发挥作用。
We applied a capabilities view as the theoretical underpinning to investigate the integrative role of orientation (IO) and the strategic use of social media (SSM) on a firm’s crowdfunding campaign success (CFS). We suggest that IO promotes a firm’s ability to succeed with crowdfunding campaigns, and that this relationship is mediated by the SSM. To check our contentions, we surveyed professionals from 322 firms that conducted crowdfunding campaigns. For IO and SSM, we used preexisting scales, while for CFS we created and validated our own seven‐item scale. We found that IO alone does not fully account for CFS, but rather its effect is based on a firm’s ability to SSM. Our findings contribute to the literature on strategic entrepreneurship, media strategy, and public policy.