The Dynamics of Investor Sentiment Impacts in Equity Crowdfunding: Unveiling the When

Thang Nguyen; Jiaqi Guo; Daniel Dao; Frank Nguyen; Bao To

doi:10.1111/1467-8551.12854

The Dynamics of Investor Sentiment Impacts in Equity Crowdfunding: Unveiling the When

Thang Nguyen
, Jiaqi Guo
, Daniel Dao
, Frank Nguyen
, Bao To

Research output: Contribution to journal › Article › peer-review

4 Citations (Scopus)

32 Downloads (Pure)

Abstract

Expanding upon the known impact of investor sentiment on crowdfunding contributions, we delve deeper to pinpoint specific conditions under which sentiment influences investor choices. Grounded in psychological theory, we assert that sentiment's influence thrives at the peak of investor attention, primarily on a campaign's first day and among projects with greater uncertainty. Our empirical study, based on 447 campaigns with 17,244 daily observations from the United Kingdom's Crowdcube platform, substantiates our claim. Our research enhances the comprehension of equity crowdfunding investors and provides practical insights for its proponents.

Original language	English
Pages (from-to)	423-442
Number of pages	20
Journal	British Journal of Management
Volume	36
Issue number	1
Early online date	16 Jul 2024
DOIs	https://doi.org/10.1111/1467-8551.12854
Publication status	Published - Jan 2025

Bibliographical note

© 2024 The Author(s). British Journal of Management published by John Wiley & Sons Ltd on behalf of British Academy of Management. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

Funder

This research is partly funded by the University of Economics Ho Chi Minh City (UEH) under the grant number. Grant Number: 2024-01-09-2048.

Funding

This research is partly funded by the University of Economics Ho Chi Minh City (UEH) under the grant number. Grant Number: 2024-01-09-2048.

Funders	Funder number
University of Economics HCMC	2024‐01‐09‐2048

Keywords

Equity Crowdfunding
Investor Sentiment
Investor Attention
Firm Uncertainty

ASJC Scopus subject areas

General Business,Management and Accounting
Management of Technology and Innovation
Strategy and Management

Access to Document

10.1111/1467-8551.12854Licence: CC BY

Nguyen2024VoRFinal published version, 741 KBLicence: CC BY

Cite this

@article{0e5432ce939940aa847b413dbf38eb70,

title = "The Dynamics of Investor Sentiment Impacts in Equity Crowdfunding: Unveiling the When",

abstract = "Expanding upon the known impact of investor sentiment on crowdfunding contributions, we delve deeper to pinpoint specific conditions under which sentiment influences investor choices. Grounded in psychological theory, we assert that sentiment's influence thrives at the peak of investor attention, primarily on a campaign's first day and among projects with greater uncertainty. Our empirical study, based on 447 campaigns with 17,244 daily observations from the United Kingdom's Crowdcube platform, substantiates our claim. Our research enhances the comprehension of equity crowdfunding investors and provides practical insights for its proponents.",

keywords = "Equity Crowdfunding, Investor Sentiment, Investor Attention, Firm Uncertainty",

author = "Thang Nguyen and Jiaqi Guo and Daniel Dao and Frank Nguyen and Bao To",

note = "{\textcopyright} 2024 The Author(s). British Journal of Management published by John Wiley \& Sons Ltd on behalf of British Academy of Management. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.",

year = "2025",

month = jan,

doi = "10.1111/1467-8551.12854",

language = "English",

volume = "36",

pages = "423--442",

journal = "British Journal of Management",

issn = "1045-3172",

publisher = "Wiley-Blackwell Publishing Ltd",

number = "1",

}

TY - JOUR

T1 - The Dynamics of Investor Sentiment Impacts in Equity Crowdfunding

T2 - Unveiling the When

AU - Nguyen, Thang

AU - Guo, Jiaqi

AU - Dao, Daniel

AU - Nguyen, Frank

AU - To, Bao

N1 - © 2024 The Author(s). British Journal of Management published by John Wiley & Sons Ltd on behalf of British Academy of Management. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

PY - 2025/1

Y1 - 2025/1

N2 - Expanding upon the known impact of investor sentiment on crowdfunding contributions, we delve deeper to pinpoint specific conditions under which sentiment influences investor choices. Grounded in psychological theory, we assert that sentiment's influence thrives at the peak of investor attention, primarily on a campaign's first day and among projects with greater uncertainty. Our empirical study, based on 447 campaigns with 17,244 daily observations from the United Kingdom's Crowdcube platform, substantiates our claim. Our research enhances the comprehension of equity crowdfunding investors and provides practical insights for its proponents.

AB - Expanding upon the known impact of investor sentiment on crowdfunding contributions, we delve deeper to pinpoint specific conditions under which sentiment influences investor choices. Grounded in psychological theory, we assert that sentiment's influence thrives at the peak of investor attention, primarily on a campaign's first day and among projects with greater uncertainty. Our empirical study, based on 447 campaigns with 17,244 daily observations from the United Kingdom's Crowdcube platform, substantiates our claim. Our research enhances the comprehension of equity crowdfunding investors and provides practical insights for its proponents.

KW - Equity Crowdfunding

KW - Investor Sentiment

KW - Investor Attention

KW - Firm Uncertainty

UR - https://www.scopus.com/pages/publications/85198632041

U2 - 10.1111/1467-8551.12854

DO - 10.1111/1467-8551.12854

M3 - Article

SN - 1045-3172

VL - 36

SP - 423

EP - 442

JO - British Journal of Management

JF - British Journal of Management

IS - 1

ER -

The Dynamics of Investor Sentiment Impacts in Equity Crowdfunding: Unveiling the When

Abstract

Bibliographical note

Funder

Funding

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this