Using data from 1899 Kickstarter campaigns (2009–2019), we examine the impact of simultaneous emission of interdimensional signals of human capital and social causes on crowdfunding campaign success. We argue and demonstrate that backers respond positively to human capital signals, as reflected by prior work and entrepreneurial experiences, as they communicate the competencies of the entrepreneurs. Conversely, signaling a high level of commitment to social causes communicates competing demands, thereby reducing entrepreneurs' ability to secure funding. Moreover, when emitted jointly, interaction of these two signals negatively affects campaign success. Our theory and findings provide nuanced insights regarding simultaneously emitted interdimensional signals in crowdfunding context with a structured incentive system, thereby increasing our understanding about the ambiguous nature of bundling human capital with high social cause signals.

中文翻译：

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我们的波长相同吗？跨维度信号集和众筹成功


使用 1899 年 Kickstarter 活动（2009-2019）的数据，我们研究了同时发出人力资本和社会原因的跨维度信号对众筹活动成功的影响。我们论证并证明，支持者在传达企业家的能力时，会对人力资本信号做出积极的反应，正如之前的工作和创业经验所反映的那样。相反，表明对社会事业的高度承诺会传达相互竞争的需求，从而降低企业家获得资金的能力。此外，当联合发出时，这两个信号的相互作用会对活动的成功产生负面影响。我们的理论和研究结果提供了关于在具有结构化激励系统的众筹背景下同时发出的跨维度信号的细致入微的见解，从而增加了我们对将人力资本与高社会事业信号捆绑在一起的模糊性的理解。