crowdfunding has become an increasingly common source of financing for entrepreneurs, yet it entails fierce competition among campaigns on crowdfunding platforms. Previous research has investigated how crowdfunding success is affected by factors such as the campaign attributes creator information and online communication between creators and backers. Yet little work has addressed the effect of campaign titles on backers’ financial commitment and crowdfunding success. This study focuses on four textual characteristics (length, innovativeness, person deixis, and expression tone) of campaign titles and their influence on crowdfunding outcomes. The empirical analysis of 73,581 Indiegogo campaigns shows that title length has an inverted U-shaped effect on crowdfunding success. Words related to innovativeness and second person deixis in campaign titles increase the likelihood of crowdfunding success, while the expression of a pleading tone has a negative effect. Findings demonstrate the importance of campaign title and specific textual characteristics in attracting the attention of potential funders, providing theoretical and practical implications.

中文翻译：

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一见钟情：活动标题对众筹成功影响的文本分析研究


众筹已成为企业家越来越普遍的融资来源，但众筹平台上的众筹活动也面临着激烈的竞争。之前的研究调查了众筹成功如何受到活动属性创建者信息以及创建者和支持者之间的在线沟通等因素的影响。然而，很少有人研究竞选标题对支持者的财务承诺和众筹成功的影响。本研究重点关注活动标题的四个文本特征（长度、创新性、人称指示和表达语气）及其对众筹结果的影响。对 73,581 个 Indiegogo 活动的实证分析表明，标题长度对众筹成功具有倒 U 形效应。活动标题中与创新和第二人称指示相关的词语会增加众筹成功的可能性，而恳求语气的表达则会产生负面影响。研究结果证明了活动标题和具体文本特征在吸引潜在资助者注意力方面的重要性，并提供了理论和实践意义。