Startup Founders’ Personality Attributes in Crowdfunding Campaigns: The Relevance of Hubris and Charisma in Raising Seed Funding Online
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2019-01-08
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Startup founders often display personality traits associated with charisma and hubris. Existing literature contains rich evidence on the relevance of these traits for traditional investments settings that involve a personal interaction between the entrepreneur and the investor. However, the state of theory development on how hubris and charisma also influence the outcomes of raising seed funding online from non-professional investors can still be considered as nascent as a result of missing empirical evidence. We draw upon dual-process theory and argue that hubris and charisma are of particular relevance as they trigger intuitive decision-making processes of non-traditional investors. Our empirical setting involves a true experiment based on three versions of a crowdfunding pitch video that was recorded in collaboration with a professional actor. The primary outcomes suggest that both hubristic and charismatic entrepreneurs are more successful in sourcing capital from the crowd as they are perceived as more trustworthy and passionate.
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Crowd-based Platforms, Internet and the Digital Economy, Personality Traits, Crowdfunding, Hubris, Charisma, Startup
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7 pages
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Proceedings of the 52nd Hawaii International Conference on System Sciences
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Attribution-NonCommercial-NoDerivatives 4.0 International
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