![]() In a disaster that affects a wide range of areas and a large number of people, people can share experience messages online and quickly allocate social resources through online crowdfunding donations, which is especially important and effective. Our research demonstrates the role of the message, atmosphere, donation amounts (descriptive social norm), and anonymity behaviors of previous donors in subsequent donors' behaviors. In addition, we study how historical donation information affects the anonymous selection of subsequent donors, which is another topic not considered in the previous empirical literature. To analyze the impact factors in the process of online crowdfunding donations, this paper includes historical donation amounts and the lengths and sentiments of messages in econometric models. The length of the single donation sequence in this study is close to 1,500, and half of the donors left a message, which allows us to use linguistic sentiment analysis 3 for the sequence. ![]() 2 The crowdfunding campaign used the WeChat public platform to openly collect donations and opinions from a large number of alumni. The Wuhan University Alumni Association launched the “Donate Masks for North American Alumni” donation campaign in March 2020 to purchase epidemic prevention materials to assist alumni overseas. This paper uses data from online crowdfunding donations by Wuhan University alumni during the COVID-19 pandemic to study the factors affecting crowdfunding donations. It is of great theoretical and practical significance for researchers, fundraisers, and charity platforms to address whether several common types of information and the basic design of many online charity platforms positively impact individuals' donation behaviors. With the development of the internet and the changes in charity crowdfunding channels, online charity platforms offer opportunities for fundraisers to provide potential donors with information that could influence their behaviors. Many studies have been conducted to explore what kinds of information and the extent to which the information can mediate individuals' intrinsic determinants and further nudge individuals' donation behaviors. Lee and Chang (2008) point out the intrinsic determinants of charity behaviors, including psychographic, and attitudinal factors, such as general perceptions of charities, a sense of social responsibility, familiarity with a charity, and empathy. (2019) explore the motivations of donors to fund projects on charity crowdfunding platforms and suggest a set of intrinsic individual motivations, including shared problems, values, thoughts, and beliefs, helping a minority, technical knowledge, and the capacity of the project to learn from and help to realize ideas and create value, that lead to donations on charity crowdfunding platforms. Exploring donors' motivations and identifying the determinants that affect donation behaviors are essential and practical for fundraisers to increase the donation amount. In economics, people are often assumed to be self-interested, but in reality, human is not entirely driven by material interests. ![]() Online crowdfunding is an important fundraising tool launched on an online platform within a certain period of time to obtain small donations from a group of people who mostly do not know each other ( Mollick, 2014). ![]() In 2020, 12.9% of total fundraising came from online giving worldwide, and the growing trend of online donations was clear 1. Online public welfare fundraising, in which donors are purely donating and asking for nothing in return, is gradually replacing on-site fundraising because of its advantages of faster dissemination, its ability to reach a larger audience, and its greater pertinence. Third, anonymous donations are much smaller than non-anonymous donations. Second, the donor's positive sentiment in the message that he or she leaves, as measured by either natural language processing or a manual rating, can affect the subsequent anonymity and messages but not the subsequent donation amount. First, our results show that one's donation amount is positively affected by the previous donation amount. This paper studies online crowdfunding donations from the Alumni Association of Wuhan University to North American alumni donation data are used to investigate how individuals' donation behavior is affected by the previous donation amount and information provided by the fundraising platform. Public welfare fundraising has been used to collect donations for medical supplies and has played an important role in the fight against the COVID-19 pandemic.
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