Participation in sustainability-oriented crowdfunding: unravelling the effects of big five personality traits and social network-based word of mouth

Purpose

This study aims to shed light on the burgeoning significance of crowdfunding as an innovative financial mechanism for sustainability initiatives, underscoring the need for enhanced scholarly attention, particularly towards sustainability-oriented crowdfunding (SOC).

Design/methodology/approach

This study introduces an integrated model of value-attitude-behaviour and risk perception theory to scrutinize the crowdfunding behaviours of Indian consumers with respect to sustainability initiatives. The model evaluates the influence of big five personality traits, perceived value, performance risk and social network-based word of mouth (SNB-WOM) on funders’ engagement in SOC.

Findings

The findings reveal that these factors serve as potent catalysts for participation, with the big five personality traits playing a critical moderating role. Notably, the impact of performance risk on SOC participation is vsignificantly moderated by these personality traits. In addition, the relationship between financial risk and SOC is found to be markedly dependent on the big five traits. Furthermore, a robust connection between SNB-WOM and SOC emerges under the influence of the big five’s moderating effects.

Originality/value

The study enriches the limited literature by emphasizing the profound role of personality traits and social dynamics in shaping crowdfunding behaviours for sustainability. These insights provide a deeper understanding of the factors that drive or inhibit funders’ participation in SOC initiatives.