Abstract
Purpose: The paper aims to examine the unique nature of crowdfunding and its association with supporters' well-being, measured by Seligman's (2011) well-being theory and its five elements of PERMA: positive emotions, engagement, relationships, meaning and accomplishment. Design/methodology/approach: 22 structured interviews were conducted with supporters of crowdfunding projects. The interviews were analyzed using deduction, generating themes and assigning them to the relevant PERMA elements. Findings: Almost all interviews included five or four PERMA elements, supporting the hypothesis about crowdfunding as a form of economic behavior that is triggered by the desire for fulfillment in life. The authors found that the tendency to become a serial crowdfunder is triggered by PERMA and a sense of trust. Originality/value: This is the first study that presents a well-being theory of non-investment crowdfunding contributions. Based on the interviews, we suggest a theory linking the motivation for backing current and future projects with PERMA elements, sense of trust and the nature of adaption to activities with intrinsic attributes.
Original language | English |
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Pages (from-to) | 97-112 |
Number of pages | 16 |
Journal | Baltic Journal of Management |
Volume | 16 |
Issue number | 1 |
DOIs | |
State | Published - 4 Jan 2021 |
Externally published | Yes |
Keywords
- Crowdfunding
- PERMA
- Serial funding
- Trust
- Well-being
ASJC Scopus subject areas
- Business and International Management
- Strategy and Management
- Organizational Behavior and Human Resource Management
- Marketing
- Management of Technology and Innovation