Social Ties among Fundraisers and Crowdfunding Performance: The Impact of Tie Strength and Network Closure
研究了筹款人与同行之间的社会关系强度（关系亲密度和偏好相似性）如何与同行间的网络结构（网络封闭性）相互作用，影响众筹绩效。发现关系强度与绩效呈倒U型关系，且网络封闭性削弱了关系强度的效果。
This study examines how the strength of social ties between focal and peer fundraisers interacts with the network structure generated by these social ties to determine crowdfunding performance. With relationship intensity and preference similarity between focal and peer fundraisers as the two dimensions of tie strength, our study discloses how the benefits and costs associated with these tie strength dimensions are affected by network closure, the degree to which peer fundraisers are connected to each other. Our estimation results indicate that (1) relationship intensity and preference similarity exhibit inverted U-shaped relationships with crowdfunding performance, and (2) network closure attenuates the effectiveness of tie strength dimensions. Together, our study findings reveal an important interplay between indirect and direct social ties. In essence, social ties among peer fundraisers facilitate a group identity that reduces the returns of time and resources a fundraiser spends on strengthening ties with these peer fundraisers.