The Role of Entrepreneurial Intentions, Perceived Risk and Perceived Trust in Crowdfunding Intentions

Mina Fanea-Ivanovici; Hasnan Baber

doi:10.5755/j01.ee.32.5.29300

Authors

Mina Fanea-Ivanovici Department of Economics and Economic Policies, Bucharest University of Economic Studies, Romania
Hasnan Baber Endicott College of International Studies, Woosong University, South Korea

DOI:

https://doi.org/10.5755/j01.ee.32.5.29300

Keywords:

crowdfunding, entrepreneurial intentions, theory of planned behavior, entrepreneurship education, perceived risk, perceived trust, Romania, South Korea

Abstract

Crowdfunding is a new financial and marketing tool, which is used to raise money for new projects and to promote innovative products. The aim of this paper is to investigate the influencing factors of crowdfunding intentions among students as future or current entrepreneurs. Drawing from the Theory of Planned Behaviour and the Unified Theory of Acceptance and Use of Technology, we analyse the data from two culturally and entrepreneurship-wise different countries, Romania and South Korea using PLS-SEM (N=441). Entrepreneurial intentions, perceived risk and perceived trust are found to positively influence crowdfunding intentions among business, economics and management students in both countries. We further check the influence of attitude towards entreprenurship, social norms and perceived behavioural control, entrepreneurial education and desire for success on entre-preneurial intentions, and report positive correlations for the whole analyzed sample. Moreover, social influence and facilitating conditions positively influence the entrepreneurs’ perceived risk, and effort expectancy and performance expectancy positively influence perceived trust. Whereas the Romanian sample does not exhibit any influence of social norms on entrepreneurial intentions, entrepreneurial education is not correlated with entrepreneurial intentions in South Korea.

Author Biographies

Mina Fanea-Ivanovici, Department of Economics and Economic Policies, Bucharest University of Economic Studies, Romania

Mina Fanea-Ivanovici received a PhD in Economics in 2010. She is currently an Associate Professor at the Department of Economics and Economic Policies at the Bucharest University of Economic Studies. Her main research interests revolve around areas such as creative economy, creative industries, cultural economy, crowdfunding, digitalization, knowledge management, intercultural dialogue and intercultural competencies. She has published numerous articles and books and was a member of five research projects and director of one research grant. In 2016 she worked as an independent expert in charge of drafting and revisiting Romania’s Strategy for Culture and National Heritage.

Hasnan Baber, Endicott College of International Studies, Woosong University, South Korea

Hasnan Baber is currently working as an Assistant Professor in Endicott College of International Studies, Woosong University, South Korea. He has published numerous research papers through reputed publishers like Elsevier, Springer, Emerald, Sage, etc. His areas of research are Crowdfunding, FinTech, Behavioral Finance, Islamic Finance, and Service Quality. He has presented research papers and articles at various international conferences. He is also serving as an advisory and editorial board member of different reputed publishing houses.