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Investigating the role of data-driven innovation and information quality on the adoption of blockchain technology on crowdfunding platforms

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Abstract

The purpose of this study is to investigate the role of data-driven innovation and information quality on the adoption of blockchain technology on crowdfunding platforms through adopting a mono method quantitativae approach. Micro-level theoretical perspectives have been less explored in studies of successful crowdfunding innovation than macro-level theoretical perspectives. Furthermore, crowdfunding platforms’ performance varies because of issues like trust, information asymmetry, and transparency of funds flow, among others. There is a solution to these issues in the form of Blockchain Technology (BCT). While BCT has been adopted and used by other businesses, its adoption and usefulness for crowdfunding platforms have not been studied. We investigate crowdfunding platform success using the “task-technology fit theory” and “resource-based view theory”. Authors collected primary level data from task owners of crowdfunding platforms to test the hypotheses. The proposed theoretical model is tested with a sample size of 314 business units, and the proposed hypotheses are tested using Warp PLS 7.0. We also control for the type of crowdfunding activities for our study. The study will help in understanding and improving the success of crowdfunding tasks on crowdfunding platforms. Additionally, it will contribute to TTF and RBV theory as well.

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Authors and Affiliations

  1. Management Development Institute, Gurgaon, India

    Abhishek Behl

  2. NMIMS Global Access School for Continuing Education, NMIMS University, Mumbai, India

    Brinda Sampat

  3. NEOMA Business School, Mont-Saint-Aignan, France

    Vijay Pereira

  4. O P Jindal Global University, Jagdishpur, India

    Nirma Sadamali Jayawardena

  5. Henley Business School, University of Reading, Henley-on-Thames, UK

    Benjamin Laker

Authors
  1. Abhishek Behl
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  2. Brinda Sampat
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  3. Vijay Pereira
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  4. Nirma Sadamali Jayawardena
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  5. Benjamin Laker
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Corresponding author

Correspondence to Abhishek Behl.

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Appendix A

Appendix A

Construct

Operational Definition

References

Task-Technology Fit (TTF)

TTF refers to the fit between the tasks to be carried out on a crowdfunding platform and the role of blockchain technology in achieving them

(T.-P. Liang et al., 2021; McGill & Klobas, 2009)

Functional Benefits

The functional benefits of blockchain technology on crowdfunding platforms refer to meeting technology-related benefits such as transparency, anonymity, traceability, security, efficiency and speed

(Fleischmann & Ivens, 2019; Liang et al., 2021)

Social Value Creation Benefit

The social vaue creation beliefs relate to the characteristics social value is derived by resolving social problems obtained by using blockchain technology on crowdfunding platforms

(Meynhardt et al. 2017, 2018)

Blockchain adoption

Blockchain adoption refers to the use of blockchain technology on the crowdfunding platform due to the technological and organizational perception

(Fosso Wamba & Guthrie, 2020; Queiroz & Fosso Wamba, 2019)

Knowledge based Trust

knowledge-based trust is the idea that an algorithm can establish the level of trust a blockchain platform deserves based on its accuracy on the crowdfunding platform

(Hawlitschek et al., 2018)

Operational Performance

Operational performance is how the crowdfunding platform experiences cost, delivery speed, quality, and flexibility by using blockchain technology.

(Kim, 2014; Kim & Shin, 2019)

Data-driven Innovation

Data-driven innovation refers ot the use of advanced techniques such as blockchain, AI, analytics on crowdfunding platforms

(Sultana et al., 2022)

Information Quality

Information quality refers to the extent to which crowdfunding platform provides readable, updated opinions and comments, questions about the project on them

(Behl & Dutta, 2019, 2020)

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Behl, A., Sampat, B., Pereira, V. et al. Investigating the role of data-driven innovation and information quality on the adoption of blockchain technology on crowdfunding platforms. Ann Oper Res 333, 1103–1132 (2024). https://doi.org/10.1007/s10479-023-05290-w

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