A Recombinant Framework of Technological Information Disclosure and Reward-Based Crowdfunding Performance of Technology Projects

Abstract

We develop a recombinant framework of technological information disclosure by integrating the insights of the recombinant innovation perspective and the crowdfunding literature. We propose that the technological information disclosed in a technology project’s crowdfunding description can boil down to two recombinant features, that is, the number of disclosed technological domains (N) and the interdependence thereof (K). We further posit that the N and K of disclosed technological information about a project have distinct implications for crowdfunders’ perceived usefulness and complexity of the project’s rewards, thus affecting crowdfunding performance in distinct ways. That is, N has an inverted U-shaped effect on crowdfunding performance, while K has a monotonically negative effect on crowdfunding performance. Such effects of N and K of disclosed technological domains are further moderated by crowdfunders’ knowledge about the disclosed technological domains. Evidence from the field data from Kickstarters.com and a scenario-based study support our predictions.