Drawing from expectancy violations theory, we examine the effect of entrepreneurs’ claims about their ventures’ capability reputation and character reputation on crowdfunding performance. We propose that capability reputation and character reputation claims benefit crowdfunding performance—but only up to a point—until crowdfunding backers begin to perceive it as over-claiming (inverted-U relationship). We also suggest the effect of entrepreneurs’ capability and character reputation claims are highly contingent upon whether the entrepreneur has launched a commercial or social campaign. Our analysis of 68,899 crowdfunding campaigns strongly supports our theoretical predictions.

中文翻译：

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取得平衡：能力和品格声誉对众筹绩效的影响


借鉴预期违背理论，我们研究了企业家对其企业能力声誉和品格声誉的主张对众筹绩效的影响。我们认为，能力声誉和角色声誉主张有利于众筹绩效，但仅限于一定程度，直到众筹支持者开始认为其过度主张（倒 U 关系）。我们还认为，企业家能力和品格声誉主张的影响在很大程度上取决于企业家是否发起了商业活动或社会活动。我们对 68,899 次众筹活动的分析有力地支持了我们的理论预测。