The Power of Electronic Media: Nexus of Digital Crowdfunding Platforms, Innovation Strategy, Technology Orientation and Crowdfunding Performance

Abstract

The transformation of technological orientation and crowdfunding as innovative concepts combined with cutting-edge digital tools provides the foundation for outstanding fundraising success. Therefore, this study aims to explore the relationship between technology orientation (TO) and crowdfunding performance. Additionally, this research also investigates how crowdfunding digital platform mediates and innovation strategy moderates in the linkage between crowdfunding performance and technology orientation. Data were collected through a questionnaire on the basis of cross-sectional research design. Structural econometric models for direct and indirect analyses were conducted to test hypotheses. The results confirmed the direct positive impact of technology orientation on crowdfunding performance. Moreover, the findings prove the mediating role of a crowdfunding digital platform and moderating role of innovation strategy between technology orientation and crowdfunding performance. Fundraisers are required to give attention to technology orientation for the acceptance and adoption of the latest advancements in technology. They must consider digital platforms for fundraising and pay proper attention to innovation strategy for achieving the needed crowdfunding performance. This research discusses how return base crowdfunding performance occurs; in future, other researchers may provide evidence on donations/charity campaign base crowdfunding. This is the first study in the context of digital transformation that explored the nexus of technology orientation, crowdfunding digital platform and innovation strategy for attaining crowdfunding performance.