New “A-Paper” Published in Entrepreneurship Theory and Practice

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Christmas came early this year! We are very happy that our paper entitled “The Legitimization Effect of Crowdfunding Success: A Consumer Perspective” is now available online in Entrepreneurship Theory and Practice (ETP). ETP is a leading scholarly journal in entrepreneurship and is consistently ranked as one of the most influential business journals worldwide (Impact factor: 10.075, listed “A” in the VHB-JOURQUAL3 ranking, and part of the Financial Times Top 50 Journal List).

In their paper, the authors Lukas Maier, Christian Baccarella, Jörn Block, Timm Wagner and Kai-Ingo Voigt explore when, how, and why past crowdfunding success influences the perceptions and behaviors of consumers. Across five studies, the findings show that a young venture’s past crowdfunding success enhances consumers’ perceptions of its cognitive legitimacy. This “legitimization effect of crowdfunding success” leads to positive outcomes with respect to purchase intentions, brand attitudes, and consumers’ willingness to recommend young ventures to others. These effects are robust across different product categories. However, the findings also reveal that these positive effects occur exclusively for young ventures, whereas they disappear or even reverse for established ones.

In a nutshell, the authors provide a novel perspective on the role of past crowdfunding success from a consumer perspective. In that way, the paper offers valuable implications for theory and practice.

You can find the paper here