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The concept of donation crowdfunding has been drawing enormous attention as it connects donors worldwide in a shorter time at a relatively lower cost. This paper aims to integrate two unified theories, namely, behavioral finance and unified theory of acceptance and use of technology model, to investigate on the motivators and deterrents that influence prospective donors to adopt and use donation crowdfunding. The study also substantiates the significance of donors’ behavioral biases through the moderating effect in the crowdfunding adoption process.Design/methodology/approachThe study used survey method for data collection and the data set was obtained from the sample of respondents belonging to India and Bangladesh. The proposed structural equation modeling is tested using SPSS 23.0 and AMOS 23.0.FindingsThe study reveals that performance expectancy, effort expectancy, facilitating conditions and trust significantly enhance the intention to adopt donation crowdfunding. Also, biases including overconfidence bias, herding bias and regret aversion bias are found to have significant moderating effects on the relationship between the behavioral intention to adopt donation crowdfunding and use behavior.Practical implicationsBy investigating motivators and deterrents of the adoption of donation crowdfunding, the study renders lucrative insights for the donation crowdfunders in devising a donation fundraising campaign that motivates the prospective donors to provide financial contribution.Originality/valueThe study establishes its novelty in explaining the adoption behavior of donation crowdfunding with behavioral bias moderators as a theoretical paradigm. Furthermore, the unified theory of acceptance and use of technology model is extended by introducing, the variable “trust,” while studying the adoption behavior of donation crowdfunding.
Journal of Research in Interactive Marketing – Emerald Publishing
Published: Jun 21, 2021
Keywords: Internet marketing; E-commerce; Consumer behavior internet; Human–computer interaction; Donation crowdfunding; Regret aversion bias; Herding bias; Optimum bias; Overconfidence bias
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