Two acts, one stage: Crowdfunding and the power of self-presentation in times of crisis
研究了COVID-19疫情期间，生存驱动型与价值驱动型众筹项目如何通过不同的自我呈现策略吸引支持者，发现自夸对生存型项目适得其反，而示弱则对价值型项目有害。
The Corona Virus Disease 2019 (COVID-19) pandemic transformed reward-based crowdfunding into a dual-purpose space, as struggling businesses seeking financial relief entered a domain traditionally dominated by aspirational campaigns. This shift introduced new competitive dynamics, bringing value- and survival-driven campaigns into direct coexistence. Yet, little is known about how these campaign types attract support when sharing the same “stage,” or whether they require distinct self-presentation strategies. Drawing on impression management (IM) theory, we examine how a campaign’s functional purpose interacts with specific IM techniques to shape patterns of backer engagement. Analyzing 3,477 campaigns on Startnext, we find that survival-driven campaigns generally attract more support than value-driven ones, with IM strategies moderating this effect. While self-promotion enhances value-driven campaigns, it backfires for survival-driven ones, whereas supplication strengthens survival-driven campaigns but harms value-driven ones. Our findings underscore the importance of strategic self-presentation, offering theoretical and practical insights for building a more inclusive and resilient crowdfunding ecosystem.